Spencer, IA — An independent auditor has completed the yearly look at the City of Spencer’s books for the fiscal year ending June 30th, 2025. David Schmidt says income totaled 22 million 936 thousand, down 17.6 percent from the previous fiscal year. Property taxes were up 406 thousand dollars with revenue from the Hotel Motel Tax, Tax increment Financing, and fees for services all higher. Significant grants and contributions were down 2 million 355 thousand dollars.
City Manager Kevin Robinson – who was not the City Manager at the time – said the city was scrambling during the year to cover unforeseen emergencies created by the flood.
The Audit cited the city for a lack of consistency in financial reports. Robinson says that’s because the city had difficulty filling the Budget Director’s position.
The City of Spencer had a cash balance of 26 million 488 thousand dollars at the end of the 2025 fiscal year, actually 3 million 806 thousand dollars higher than the previous period.
