HomeMy WebLinkAbout2024ACFRCity of Oshkosh, Wisconsin
2024 Annual Comprehensive
Financial Report
for the fiscal year ended December 31, 2024
CITY OF OSHKOSH, WISCONSIN
ANNUAL COMPREHENSIVE FINANCIAL REPORT
FOR THE FISCAL YEAR ENDED DECEMBER 31, 2024
Submitted by:
City of Oshkosh Finance Department
Julie Calmes, CPA, Director of Finance
Hailey Palmquist, Assistant Finance Director
CITY OF OSHKOSH, WISCONSIN
Table of Contents
December 31, 2024
Page
INTRODUCTORY SECTION
Letter of Transmittal i - viii
Organizational Chart ix
The City x
FINANCIAL SECTION
INDEPENDENT AUDITORS’ REPORT 1 - 3
MANAGEMENT’S DISCUSSION AND ANALYSIS MD&A 1 –
MD&A 8
BASIC FINANCIAL STATEMENTS
Government - Wide Financial Statements
Statement of Net Position 4
Statement of Activities 5 - 6
Fund Financial Statements
Balance Sheet – Governmental Funds 7 - 8
Reconciliation of the Balance Sheet – Governmental Funds to the Statement
of Net Position 9
Statement of Revenues, Expenditures and Changes in Fund Balances (Deficit)
– Governmental Funds 10 -11
Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund
Balances (Deficit) – Governmental Funds to the Statement of Activities 12
Statement of Net Position – Proprietary Funds 13 - 14
Statement of Revenues, Expenses and Changes in Net Position – Proprietary Funds 15 - 16
Statement of Cash Flows – Proprietary Funds 17 - 18
Statement of Fiduciary Net Position – Fiduciary Fund 19
Statement of Changes in Net Position – Fiduciary Fund 20
Notes to Financial Statements 21 - 63
REQUIRED SUPPLEMENTARY INFORMATION
Schedules of Employer’s Proportionate Share of the Net Pension Liability (Asset) and
Employer Contributions – Wisconsin Retirement System 64
Schedules of Employer’s Proportionate Share of the Net OPEB Liability and Employer
Contributions – Local Retiree Life Insurance Plan 65
Schedule of Changes in Total OPEB Liability and Related Ratios 66
Schedule of Budgetary Comparison –
Budget and Actual – General Fund 67
Notes to Required Supplementary Information 68 - 69
CITY OF OSHKOSH, WISCONSIN
Table of Contents (Continued)
December 31, 2024
SUPPLEMENTARY INFORMATION
Combining Balance Sheet – Nonmajor Governmental Funds 70 - 77
Combining Statement of Revenues, Expenditures and Changes in Fund Balances –
Nonmajor Governmental Funds 78 - 85
Combining Statement of Net Position – Nonmajor Enterprise Funds
Combining Statement of Revenues, Expenses and Changes in Net Position – Nonmajor
Enterprise Funds
86 - 87
88 - 89
Combining Statement of Cash Flows – Nonmajor Enterprise Funds 90 - 91
Combining Statement of Net Position (Deficit) – Internal Service Funds 92
Combining Statement of Revenues, Expenses and Change in Net Position (Deficit) –
Internal Service Funds 93
Combining Statement of Cash Flows – Internal Service Funds 94
Schedules of Revenues, Expenditures and Changes in Fund Balances – Budget to Actual -
Debt Service
Equipment
95
96
Special Assessment Improvement 97
Senior Services 98
Business Improvement District 99
Recycling 100
Street Lighting 101
Library 102
Museum 103
Cemetery 104
Community Development Block Grant 105
Neighborhood Improvement Loan Program 106
Local Revolving Loan Program 107
Senior Services Revolving Loans 108
Police Special 109
Fire Special 110
Park Revenue Facilities 111
Leach Amphitheater 112
CITY OF OSHKOSH, WISCONSIN
Table of Contents (Continued)
December 31, 2024
SUPPLEMENTARY INFORMATION (Continued)
Public Works Special 113
Garbage Collection and Disposal 114
Pollock Water Park 115
Health Neighborhood Initiative 116
Street Tree Memorial 117
Senior Center 118
Grand Opera House 119
Parking Ramp Improvements 120
TIF No. 8 S Aviation Industrial 121
TIF No. 12 Division Street 122
TIF No. 13 Marion Road/Pearl Avenue 123
TIF No. 14 Mercy Medical Center 124
TIF No. 15 Park Plaza/Commerce Street 125
TIF No. 16 100 Block Redevelopment 126
TIF No. 17 City Center Redevelopment 127
TIF No. 18 SW Industrial Park Expansion 128
TIF No. 19 NW Industrial Expansion 129
TIF No. 20 South Shore Redevelopment 130
TIF No. 21 Fox River Corridor 131
TIF No. 23 SW Industrial Park Expansion 132
TIF No. 24 Oshkosh Corp E-COAT 133
TIF No. 25 City Center Hotel 134
TIF No. 26 Aviation Business Park 135
TIF No. 27 North Main Street Industrial Park 136
TIF No. 28 Beach Building Redevelopment 137
TIF No. 29 Morgan District 138
TIF No. 30 Washington Building 139
TIF No. 31 Buckstaff Redevelopment 140
TIF No. 32 Granary Redevelopment 141
TIF No. 33 Lamico Redevelopment 142
CITY OF OSHKOSH, WISCONSIN
Table of Contents (Continued)
December 31, 2024
SUPPLEMENTARY INFORMATION (Continued)
TIF No. 34 Oshkosh Corp Headquarters 143
TIF No. 35 Oshkosh Avenue Corridor 144
TIF No. 36 Merge Redevelopment 145
TIF No. 37 Aviation Plaza 146
TIF No. 38 Pioneer Redevelopment 147
TIF No. 39 Cabrini School Redevelopment 148
TIF No. 40 Miles Kimball Redevelopment
TIF No. 41 Smith School Redevelopment
TIF No. 42 Morgan Crossing
149
150
151
TIF No. 43 Mill on Main 152
Transit Utility 153
Water Utility 154
Sewer Utility 155
Stormwater Utility 156
Parking Utility 157
Oshkosh Convention Center 158
Industrial Park Land 159
Inspection Services 160
Health Insurance 161
Worker’s Compensation 162
Field Operations 163
STATISTICAL SECTION
Net Position 164
Changes in Net Position 165 - 166
Fund Balances, Governmental Funds 167
Changes in Fund Balances, Governmental Funds 168
Assessed and Estimated Actual Value of Taxable Property 169
Property Tax Rates – Direct and Overlapping Governments 170
Principal Taxpayers 171
Property Tax Levies and Collections 172
Outstanding Debt by Type 173
Ratios of Net General Bonded Debt Outstanding 174
Direct and Overlapping Governmental Activities Debt 175
CITY OF OSHKOSH, WISCONSIN
Table of Contents (Continued)
December 31, 2024
STATISTICAL SECTION (Continued)
Legal Debt Margin Information
Pledged-Revenue Coverage
Water Revenue Bonds
176
177
Sewer Revenue Bonds 177
Stormwater Revenue Bonds 177
Demographic an Economic Statistics 178
Principal Employers 179
Full-time Equivalent City Government Employees by Function / Program 180
Capital Asset Statistics by Function / Program 181
Operating Indicator by Function / Program 182
Economics – Population, Building Permits, and Utility Customers 183
New Dwelling Units Constructed 184
Utility Information 185 - 186
Budgeted Revenues 187
Operating Expenditure Budget by Function 188
Pie Charts -
Levy Rate 189
Source of Funds (Where the Money Comes From) 190
Use of Funds (Where the Money Goes) 191
Use of Funds by Function (How the Money Goes) 192
ADDITIONAL INDEPENDENT AUDITORS’ REPORT FOR BASIC FINANCIAL STATEMENTS
Independent Auditors’ Report on Internal Control Over Financial Reporting and on
Compliance and Other Matters Based on an Audit of Financial Statements Performed in
Accordance with Government Auditing Standards 193 - 194
July 28, 2025
Honorable Mayor, Members of the City Council, and the Citizens of Oshkosh:
The Annual Comprehensive Financial Report for the fiscal year ended December 31, 2024, has been
prepared to provide readers detailed information concerning the financial condition of the City of Oshkosh.
This report was prepared by the City’s Department of Finance. Responsibility for both the accuracy of the
data and the completeness and fairness of the presentation, including all disclosures, rests with the City.
We believe the information contained herein is accurate in all material respects. In addition, we believe the
information is presented in a manner designed to fairly set forth the financial activities of the City and its
various funds and account groups; and that all of the disclosures necessary to enable the reader to gain
the maximum understanding of the City’s financial activities have been included.
THE REPORTING ENTITY
The Governmental Accounting Standards Board (GASB) outlines criteria by which financial information
must be supplied by the primary government. Criteria include 1) the primary government’s finances; 2)
organizations for which the primary government is financially responsible; and 3) other organizations for
which the nature and significance of their relationship with the primary government are such that exclusion
would cause the reporting entity’s financial statement to be misleading or incomplete.
This report includes all of the funds and component units of the City of Oshkosh as defined by the criteria
for reporting units.
General Fund Accounts for the general operation of the City of Oshkosh
Special
Revenue Funds
Senior Services
Business Improvement District
Recycling
Street Lighting
Library
Police Special
Fire Special
Community Develop Special
Leach Amphitheater
Garbage Collection & Disposal
Public Works Special
Ambulance Services
Museum
Cemetery
Community Development Block Grant
Rental Rehab Loan Program
Senior Services Revolving Loans
Parks Revenue Facilities
Pollock Water Park
Healthy Neighborhood Initiative
Rental Inspections
Local Revolving Loan Program
Special Events
Neighborhood improvement Loan
Program
Debt Service This fund accounts for the resources accumulated and payments made for the principal
and interest on long-term debt
Capital Projects
Funds
Sidewalk Construction
Street Tree Memorial
Contract Control
Street Improvement
Special Assessments
Equipment
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Parks Improvement &
Acquisition
Mct Rochlin Park Smokestack
Grand Opera House
TIF # 8 – 44
TIF Reserve Fund
Park Subdivision Improvement
Senior Center Revolving
Parking Ramp Improvements
Advance Payments Special
Assessments
Special Assessments Replacement
Enterprise
Funds
Transit Utility
Water Utility
Parking Utility
Oshkosh Convention Center
Sanitary Sewer Utility
Stormwater Utility
Industrial Park Land
Inspection Services
Internal Service
Funds
Health Insurance
Worker’s Compensation
Custodial/
Permanent
Tax Collection
Investment/Trust Fund
The Redevelopment Authority is a component unit of the City, so this report includes a discrete presentation
of its financial data. The Redevelopment Authority was created by the City Council in 2003 for the purpose
of eliminating and preventing substandard, deteriorated and blighted area and encouraging urban renewal,
especially in the central city.
ECONOMIC CONDITIONS
Oshkosh is the perfect place for businesses to call home. With an impressive portfolio of top employers,
Oshkosh has the resources that businesses and entrepreneurs need to reach their goals and find success.
The top ten employers are as follows:
Firm Type of Business/Product Estimated
Oshkosh Corporation Specialized Trucks 7,500
Amcor Packaging 3,500
4imprint Advertising specialties 1,600
Oshkosh Area School District Elementary and secondary education 1,300
UW-Oshkosh College 1,200
Aurora Medical Center and Group Health care 1,200
US Bank Financial Institution 1,150
Winnebago County Government 1,000
Ascension Health Health care 675
Clarity Care Residential care 650
Rooted in manufacturing excellence, Oshkosh is committed to the continued diversification of our
manufacturing base in order to ensure and maintain a strong economic climate. Our focus for new growth
include:
Aviation
Aviation is a big part of our heritage and it’s something we’d like to build upon. The Oshkosh region is
uniquely positioned to cultivate business in this sector because of our incredible assets: the Experimental
Aircraft Association (EAA) world headquarters, the annual AirVenture fly-in, a network of four airports with
a wide array of services and facilities, aviation education programming at Fox Valley Technical College
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(FVTC), the University of Wisconsin Oshkosh (UW Oshkosh), a strong workforce, an established supply
chain and an already existing aviation business cluster.
Manufacturing
The Oshkosh-Neenah Metropolitan Statistical Area, (MSA) is home to over 300 manufacturing-related
businesses. As a result, as both a growth and maturing industry, Oshkosh is focused on helping our
employers through both opportunities and challenges related to workforce development, international
trade, supplier connections, innovation and assistance with regulatory issues.
Information Technology
Information Technology is such an integral part of business today. Amplify Oshkosh is working to foster
awareness and growth of IT in our community. A study completed by Oshkosh community partners called
for Oshkosh to continue to provide the necessary resources to existing IT companies and local
entrepreneurs that want to grow their businesses in Oshkosh and the New North region. The presence of
a strong educational system, including UW-Oshkosh and Fox Valley Technical College, provides a talent
base for future employees, as well as core degree programs that will help the IT sector grow. We have a
growing network of IT professionals that is being fostered by the growth of these companies and we have
the basic infrastructure network in place that has allowed these companies to locate and grow here.
MAJOR INITIATIVES
The City of Oshkosh has maintained a Strategic Plan since 2015.
A biannual process is conducted to update and refine the two-year
strategic plan, ensuring ongoing alignment with the City’s evolving
goals and priorities. The 2023-2024 Vision Statement for the City
was that Oshkosh is “A thriving and sustainable community
offering abundant opportunities for work and life.”
To reach that vision, the mission of the City was to “provide goods
and services in pursuit of a safe and vibrant community.”
The Strategic Plan was developed around six strategic goals:
support economic development; provide a safe, secure, and
healthy community; enhance the effectiveness of our city
government; improve and maintain our infrastructure; enhance our quality-of-life services and assets; and
strengthen our neighborhoods.
Economic Development
The strategic goal is to be recognized as a premier community in Wisconsin by fostering entrepreneurial
activity, developing and retaining a diverse mix of employees and employment opportunities, and
revitalizing the downtown/central city area and the greater Oshkosh area. To accomplish this goal the
City objectives include:
A) Continue to Support Business Retention and Expansion (BR&E), Attraction and
Entrepreneurship
B) Support Redevelopment Opportunities Throughout the City
C) Continue to Develop Infrastructure Needed to Support Business and Residential
Development
D) Work with Community Partners to Attract and Develop Our Workforce
Safe, Secure, and Healthy Community
The strategic goal is to create public safety officials who are trusted, efficient and effective professionals.
To accomplish this goal the City objectives include:
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A) Enhance Community Trust in Public Safety
B) Provide Well Trained, Effective and Equipped Public Safety Professionals
C) Enhance Crime Prevention, Community Policing, & Transportation Safety Strategies
D) Improve the Community’s Ability to Withstand & Recover from Disruptive Events
E) Implement Strategies & Solutions for Community Risk Reduction
F) Continue to Improve Strategies to Address Mental Health Crises and Substance Abuse in the
Community
G) Improve Transportation Safety within Community
Enhance the Effectiveness of City Government
The strategic goal is to maximize organizational efficiency by successfully achieving City initiatives. To
accomplish this goal the City objectives include:
A) Maximize our Financial Position
B) Recruit, Retain, Engage, and Recognize Employees
C) Improve our Performance and Outcome Measures Including Benchmarks
D) Align Employee Performance to Department Plans
E) Build Trust Through Communication, Education, and Relationship Building
Improve and Maintain Infrastructure
The strategic goal is that a safe and effective infrastructure that provides a framework for full scale
community enjoyment. To accomplish this goal the City objectives include:
A) Improve our Streets, Transit, Bicycle and Pedestrian Facilities
B) Update and Maintain City Technology
C) Improve our City Facilities
D) Improve Our Public Utilities
E) Update and Improve Our City Equipment
Enhance Our Quality of Life Services and Assets
The strategic goal is that natural, cultural and recreational assets of the city are recognized as a source of
pride for the community. To accomplish this goal the City objectives include:
A) Provide Improved Park and Senior Center Facilities
B) Analyze, Plan And Implement Strategies To Maximize Parks Department Operational
Efficiencies
C) Strengthen Museum Exhibitions To More Broadly Represent And Appeal To Educational
Entities In The Community
D) Better Utilize Museum Collections For The Public
E) Create Awareness Of and Participation For The Museum Through Brand Identity, Marketing,
And Expanded Programs
F) Encourage Giving, Partnerships, and Alternative Funding Sources For Quality Of Life
G) Continue To Make Progress Toward The Library’s Vision Of “A Library In Every Life”
Strengthen Our Neighborhoods
The strategic goal is that neighborhoods throughout the community are attractive, well maintained, and
desirable places to live that inspire positive social interactions among residents. To accomplish this goal
the City objectives include:
A) Enhance And Promote A Culture Of Neighborhood
B) Leverage City Resources and Incentives To Encourage Private Investment And Maintenance
In Neighborhoods
C) Implement Development & Redevelopment In Specific Neighborhoods And Surrounding
Commercial Corridors
D) Collaborate With Community Partners To Reduce Housing Instabilities
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ACCOUNTING SYSTEM AND BUDGETARY CONTROL
The City’s accounting records for general government operations are maintained on a modified accrual
basis, with the revenues being recorded when available and measurable and expenditures being
recorded when the services or goods are received and the liabilities are incurred. Accounting records for
the City’s utilities and other enterprise funds are maintained on an accrual basis.
In developing and modifying the City’s accounting system, consideration is given to the adequacy of
internal accounting controls. Internal accounting controls are designed to provide reasonable, but not
absolute, assurance regarding:
1) The safeguarding of assets against loss from unauthorized use or disposition and
2) The reliability of financial records for preparing financial statements and maintaining
accountability for assets.
The concept of reasonable assurance recognizes that:
1) The cost of a control should not exceed the benefits likely to be derived and
2) The evaluation of costs and benefits requires estimates and judgment by management.
All internal control evaluations occur within the above framework. We believe that the City's internal
accounting controls adequately safeguard assets and provide reasonable assurance of proper recording
of financial transactions. Budgetary control is maintained at the department level by the encumbrance of
estimated purchase amounts prior to the release of purchase orders to vendors. Purchase orders which
result in an overrun of the departmental balances are not released until additional appropriations are
made available. Open encumbrances are reported as assignments of fund balance as of December 31,
2024.
GENERAL GOVERNMENT FUNCTIONS
City Council
The City Council is the legislative and policy making body of the City and is composed of seven Council
Members, who are elected at large for two-year terms. The Mayor presides over Council meetings. The
Deputy Mayor presides at Council meetings in the Mayor’s absence. The responsibilities of the City
Council include: (i) enacting ordinances, resolutions and orders necessary for the proper governing of the
City’s affairs; (ii) reviewing and adopting the annual budget; (iii) reviewing and deciding on
recommendations from various boards and commissions; (iv) establishing policies and measures to
promote the general welfare of the City and safety and health of its citizens; and (v) representing the City
at official functions with other governmental agencies and organizations.
City Administration
The City Manager, Rebecca Grill, is the Chief Executive Officer for the City of Oshkosh and is responsible
for planning, organizing, and directing the activities of the City, with policy direction from the Common
Council.
The Finance Department is responsible for the following divisions: Finance, Collections, Accounting,
Payroll, Parking, and Water/Sewer/Storm Water Utilities. The department assists the City Manager in
preparing the City Budget and is responsible for the administration of budgeted funds. The Finance
department is led by Julie Calmes, CPA, who is assisted by the Assistant Director of Finance, Hailey
Palmquist, whose day-to-day responsibilities include supervising and participating in all general, utility,
and special accounting activities of the City.
Principal Governmental Services Performed by the City
Among the services it provides, the City maintains and oversees the capital budget operations of police
and fire departments, water and sewerage utilities, parking utility, a public library, a museum, mass
transit, planning and zoning, parks and recreation and public works departments. Brief descriptions of
these services are set forth below.
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POLICE DEPARTMENT – The Police Department, which is governed by a five member Police and Fire
Commission comprised of citizens appointed to five-year terms by the Mayor, includes sworn officers and
full and part-time civilian employees, community service officers, and school crossing guards. The full-
time mission of the Oshkosh Police Department is to promote public safety and to enhance the quality of
life in our community through innovative policing and community partnerships.
FIRE DEPARTMENT – The Fire Department provides fire protection to residents within the City and
paramedic ambulance service to the City and surrounding communities. The Fire Department, which is
governed by a five member Police and Fire Commission comprised of citizens appointed to five-year
terms by the Mayor, maintains six fire stations, which house the department’s fire, safety and rescue
equipment.
PUBLIC LIBRARY – The Oshkosh Public Library is a member of the Winnefox Library System and serves
approximately 34,000 cardholders from Oshkosh and surrounding towns through the main library, library
website, and deposit collections. Over 600,000 items in the collections are checked out in a year. Over
225,000 visits are made to the library with over 80,000 wireless connections. Pursuant to Ch. 43.54 of
the Wisconsin State Statutes, a Library Board of Trustees governs the Library. The mission of the
Oshkosh Public Library is, “To help people find knowledge resources; provide free access to information;
reserve local history; and create a vibrant community gathering place.”
MUSEUM – The Oshkosh Public Museum serves the community through permanent, traveling, and
virtual exhibitions, educational services and programs, publications, and research facilities. The Museum
is entrusted with the preservation, care, and documentation of 250,000 objects, as well as historic
photographs, film, and archival materials. The Museum, Arts and Culture Board provides strategic
direction on policies related to the care, maintenance, and acquisition/disposal of the Museum and
Museum property.
DEPARTMENT OF PARKS – The Department of Parks develops and maintains the City’s parks and
public areas including recreational facilities, urban forestry, Riverside Cemetery, Leach Amphitheater,
Pollock Community Water Park, Menominee Park Zoo, multi-purpose trail systems, river walk, round-a-
bouts, and senior services.
MASS TRANSIT – The Transit System (GO Transit), consists of 16 buses providing service over nine
fixed-routes in the City of Oshkosh. An additional intercity route provides service between Oshkosh and
Neenah, WI. The intercity route is provided by a contractor. The transit system also provides paratransit
programs for the community through a service contract.. A five-member Transportation Committee and
the Oshkosh Common council govern the activities of GO Transit.
PARKING UTILITY – The Parking Utility operates nineteen off-street parking lots that are located in the
central business district and in the Oregon Street business area.
PUBLIC WORKS DEPARTMENT – The Public Works Department consists of seven separate divisions
as follows:
The Engineering Division is responsible for the design and preparation of drawings and specifications for
street construction and maintenance, sidewalks, sanitary sewers, water mains, storm sewers, as well as
construction management for these projects.
The Street Division provides for maintenance of public roadways/alleys/parking lots, and storm/sanitary
sewers within those streets. Maintenance of storm sewer facilities includes ditching and drainage work.
The Central Garage Division is responsible for repair, maintenance, and service of City vehicles and
equipment.
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The Sanitation Division provides for collection of solid waste material from residential properties.
Disposal of this solid waste is governed by agreements with the Winnebago County Solid Waste
Management Board. The Sanitation Division is also responsible for the City’s recycling program.
The Water Utility operates a sixteen million gallon per day water filtration plant put into operation in 1999,
operating 24 hours a day, to provide potable water production and distribution for general public use,
industrial and firefighting purposes. The source of water supply is Lake Winnebago. Three underground
reservoirs provide 2,500,000 gallons of water storage. Elevated storage consists of two 750,000-gallon
tanks, a 1,250,000-gallon tank and a 1,500,000-gallon tank. The Water Distribution Division is in charge
of daily and emergency maintenance of all water mains, hydrants, services, and meters.
The Sewer Utility operates a 20 million gallon per day (MGD) Wastewater Treatment Facility that provides
secondary treatment and discharges the treated wastewater to the Fox River.
The Storm Water Utility is responsible for managing storm water runoff generated within the City of
Oshkosh. In addition to providing flood reduction benefits, the Storm Water Utility is required to comply
with the requirements of the Federal Clean Water Act, administered by the Wisconsin Department of
Natural Resources. These requirements include reducing the amount of pollution discharging into Lake
Winnebago from the storm water generated within the City of Oshkosh.
DEPARTMENT OF COMMUNITY DEVELOPMENT- The Department of Community Development plays a
variety of roles and carries out its responsibilities through four divisions; Assessment Services, Economic
Development, Inspection Services, and Planning.
DEPARTMENT OF TRANSPORTATION – The Department of Transportation maintains and installs all
signs, pavement markings, lighting systems, fiber optics, and traffic signals for public streets, parks and
city buildings.
City Employees
The City employs full-time, part-time, seasonal and poll worker employees, of which 17 are officials or
administrators, The individual departments are led by 12 department heads who are overseen by the City
Manager. Certain groups of employees of the City, including Fire, Police, and Transit are organized into
labor unions for purposes of conducting collective bargaining with the City. The police and transit
contracts are in effect through 2023. However, the Fire union and the City are continuing to work on the
subsequent contract. All eligible full-time and part-time City employees participate in the Wisconsin
Retirement System, with limited seasonal staff also eligible and enrolled. Pursuant to State Law, annual
contribution rates are set in June each year by an independent consulting actuary and approved by the
Employee Trust Funds Board. The rates based on assumptions concerning mortality, disability, interest
rates, retirement age, retirement formula factor and the earnings, age, number of people in each category
etc. The City’s total contribution to the Retirement Fund was approximately $4,804,500 for the year
ended December 31, 2024.
The accompanying financial statements include all significant operations of the City. A summary of this
year’s revenues and expenditures/expenses are included in the Management’s Discussion and Analysis
section, which is in the financial section of this audit report.
INDEPENDENT AUDIT
The City is required to have an annual audit of its financial statements by independent certified public
accountants selected by the City Council. All audit requirements have been complied with and the
auditor's opinions have been included in this report. The unmodified opinions expressed by the auditor,
on the City's financial statements, is an assertion that there have been no irresolvable restrictions on the
scope of the auditors’ examination and the auditors have no significant exceptions as to the accounting
principles reflected in the financial statements, the consistency of application of accounting principles, and
the adequacy of information disclosures in the financial statements.
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ACKNOWLEDGMENTS
The preparation of this report on a timely basis could not be accomplished without the efficient and
dedicated services of the entire staff of the Department of Finance. We would like to express our
appreciation to all members of the Department who assisted and contributed to its preparation. We would
also thank the members of the City Council for their interest and support in planning and conducting the
financial operations of the City of Oshkosh in a responsible and progressive manner.
Respectfully submitted,
CITY OF OSHKOSH
REBECCA GRILL, City Manager
JULIE CALMES, CPA, Director of Finance
HAILEY PALMQUIST, Assistant Director of Finance
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ORGANIZATIONAL CHART
The Voters
Mayor &
City Council
City Manager
Administrative
Services City Clerk
Community
Development Finance
Fire Legal
Library Museum
Parks Police
Public Works Transportation
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OSHKOSH, WISCONSIN
The City of Oshkosh was incorporated in 1853 and is the County seat of Winnebago County. It is located on
the western shore of Lake Winnebago in the Fox River Valley 173 miles north of the City of Chicago, Illinois,
and 275 miles east of the cities of Minneapolis and St. Paul, Minnesota. The corporate limits of the City
encompass approximately 24.24 square miles and the population is currently 65,216.
Oshkosh is the perfect place for businesses to call home. With an impressive
portfolio of top employers, Oshkosh has the resources that businesses and
entrepreneurs need to reach their goals and find success. Oshkosh is home to
many successful businesses that are powered by the area’s exceptional workforce.
The Oshkosh-Neenah Metropolitan Statistical Area (MSA) has a population of
173,307 according to the U.S. Census reports from 2024. The MSA also has a
civilian labor force size of 93,140, according to the U.S. Bureau of Labor Statistics.
The city plays host to hundreds of local, regional, national and international events each year—Oshkosh is,
after all, Wisconsin’s Event City.
GENERAL GOVERNMENT FUNCTIONS
The City's government consists of a City Manager who is employed by the Mayor and Council of 6 members
who are elected at large to a two term-year term.
The City provides a full range of municipal services contemplated by Statute or character. This includes
police, fire, streets and sanitation, social services, parks, public improvements, library and museum, mass
transit, planning and zoning, and general administrative services.
COUNCIL MEMBERS AND PRINCIPAL OFFICERS
COUNCIL MEMBERS
Name Title/Term Ending
Matt Mugerauer Mayor (2027)
Joseph Stephenson Deputy Mayor (2027)
PRINCIPAL OFFICERS
Name Title
Rebecca Grill City Manager
Hailey Palmquist Asst. Director of Finance
x
Brad Spanbauer Council Member (2027)
Karl Buelow Council Member (2027)
Jacob Floam Council Member (2026)
Kris Larson Council Member (2026)
DJ Nichols Council Member (2026)
INDEPENDENT AUDITORS’ REPORT
1
Independent Auditors’ Report
To the Common Council
City of Oshkosh
Oshkosh, Wisconsin
Report on the Audit of the Financial Statements
Opinions
We have audited the accompanying financial statements of the governmental activities, the business-type activities, the
discretely presented component unit, each major fund, and the aggregate remaining fund information of the City of
Oshkosh, Wisconsin, as of and for the year ended December 31, 2024, and the related notes to the financial statements,
which collectively comprise City of Oshkosh, Wisconsin’s basic financial statements as listed in the table of contents.
In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial
position of the governmental activities, the business-type activities, the discretely presented component unit, each major
fund, and the aggregate remaining fund information of the City of Oshkosh, Wisconsin, as of December 31, 2024, and
the respective changes in financial position and, where applicable, cash flows thereof for the year then ended in
accordance with accounting principles generally accepted in the United States of America.
Basis for Opinions
We conducted our audit in accordance with auditing standards generally accepted in the United States of America and
the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller
General of the United States. Our responsibilities under those standards are further described in the Auditors’
Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of
City of Oshkosh, Wisconsin, and to meet our other ethical responsibilities, in accordance with the relevant ethical
requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to
provide a basis for our audit opinions.
Responsibilities of Management for the Financial Statements
Management is responsible for the preparation and fair presentation of the financial statements in accordance with
accounting principles generally accepted in the United States of America, and for the design, implementation, and
maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from
material misstatement, whether due to fraud or error.
In preparing the financial statements, management is required to evaluate whether there are conditions or events,
considered in the aggregate, that raise substantial doubt about City of Oshkosh, Wisconsin’s ability to continue as a
going concern for twelve months beyond the financial statement date, including any currently known information that
may raise substantial doubt shortly thereafter.
Auditors’ Responsibilities for the Audit of the Financial Statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinions.
Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that
an audit conducted in accordance with generally accepted auditing standards and Government Auditing Standards will
always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from
fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions,
misrepresentations, or the override of internal control.
2
To the Common Council
City of Oshkosh, Wisconsin
Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would
influence the judgment made by a reasonable user based on the financial statements.
In performing an audit in accordance with generally accepted auditing standards and Government Auditing Standards,
we:
Exercise professional judgment and maintain professional skepticism throughout the audit.
Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and
design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis,
evidence regarding the amounts and disclosures in the financial statements.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of City of
Oshkosh, Wisconsin’s internal control. Accordingly, no such opinion is expressed.
Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting
estimates made by management, as well as evaluate the overall presentation of the financial statements.
Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise
substantial doubt about City of Oshkosh, Wisconsin’s ability to continue as a going concern for a reasonable period
of time.
We are required to communicate with those charged with governance regarding, among other matters, the planned
scope and timing of the audit, significant audit findings, and certain internal control-related matters that we identified
during the audit.
Required Supplementary Information
Accounting principles generally accepted in the United States of America require that the management’s discussion and
analysis, schedules of employer’s proportionate share of the net pension liability (asset) and employer contributions -
Wisconsin Retirement System, schedules of employer’s proportionate share of the net OPEB liability and employer
contributions – Local Retiree Life insurance Plan, schedule of changes in total OPEB liability and related ratios, and the
schedule of budgetary comparison – general fund as listed in the table of contents, be presented to supplement the
basic financial statements. Such information is the responsibility of management and, although not a part of the basic
financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential
part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical
context. We have applied certain limited procedures to the required supplementary information in accordance with
auditing standards generally accepted in the United States of America, which consisted of inquiries of management about
the methods of preparing the information and comparing the information for consistency with management’s responses
to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial
statements. We do not express an opinion or provide any assurance on the information because the limited procedures
do not provide us with sufficient evidence to express an opinion or provide any assurance.
Supplementary Information
Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the
City of Oshkosh, Wisconsin’s basic financial statements. The financial information listed in the table of contents as
supplementary information is presented for purposes of additional analysis is not a required part of the basic financial
statements. Such information is the responsibility of management and was derived from and relates directly to the
underlying accounting and other records used to prepare the basic financial statements.
3
To the Common Council
City of Oshkosh, Wisconsin
Supplementary Information (Continued)
The information has been subjected to the auditing procedures applied in the audit of the basic financial statements and
certain additional procedures, including comparing and reconciling such information directly to the underlying accounting
and other records used to prepare the basic financial statements or to the basic financial statements themselves, and
other additional procedures in accordance with auditing standards generally accepted in the United States of America. In
our opinion, the supplementary information is fairly stated, in all material respects, in relation to the basic financial
statements as a whole.
Other Information
Management is responsible for the other information included in the annual report. The other information comprises the
introductory and statistical sections but does not include the basic financial statements and our auditors’ report thereon.
Our opinions on the basic financial statements do not cover the other information, and we do not express an opinion or
any form of assurance thereon.
In connection with our audit of the basic financial statements, our responsibility is to read the other information and
consider whether a material inconsistency exists between the other information and the basic financial statements, or
the other information otherwise appears to be materially misstated. If, based on the work performed, we conclude that
an uncorrected material misstatement of the other information exists, we are required to describe it in our report.
Change in Accounting Principle
For the year ended December 31, 2024, the City adopted new accounting guidance, GASB Statement No. 101,
Compensated Absences. Our opinions are not modified with respect to this matter.
Prior Year Summarized Information
We have previously audited the City’s 2023 financial statements, and we expressed unmodified opinions on the
respective financial statements of the governmental activities, the business-type activities, the discretely presented
component unit, each major fund, and the aggregate remaining fund information in our report dated July 31, 2024. We
also expressed an unmodified opinion on the supplementary information in relation to those basic financial statements
as a whole. In our opinion, the summarized comparative information presented herein as of and for the year ended
December 31, 2023, is consistent, in all material respect, with the audited financial statements from which it has been
derived.
Other Reporting Required by Government Auditing Standards
In accordance with Government Auditing Standards, we have also issued our report dated July 28, 2025 on our
consideration of the City of Oshkosh, Wisconsin’s internal control over financial reporting and on our tests of its
compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The
purpose of that report is solely to describe the scope of our testing of internal control over financial reporting and
compliance and results of that testing, and not to provide an opinion on the effectiveness of the City of Oshkosh,
Wisconsin’s internal control over financial reporting or on compliance. That report is an integral part of an audit
performed in accordance with Government Auditing Standards in considering the City of Oshkosh, Wisconsin’s internal
control over financial reporting and compliance.
KerberRose SC
KerberRose SC
Certified Public Accountants
Oshkosh, Wisconsin
July 28, 2025
MANAGEMENT'S DISCUSSION AND ANALYSIS
CITY OF OSHKOSH, WISCONSIN
Management’s Discussion and Analysis
This discussion and analysis of the financial performance of the City of Oshkosh is intended to provide an
overview of the City’s financial activities for the fiscal year ended December 31, 2024. Readers are
encouraged to consider the information presented here in conjunction with the additional information as
furnished in the letter of transmittal and the financial statements which begin on page 1.
Financial Highlights
The assets and deferred outflows of resources of the governmental activities of the City exceeded
its liabilities and deferred inflows of resources by $204,255,063 (net position) as of December 31,
2024. Of this amount, $53,733,151 may be used to meet the City’s ongoing obligations to citizens
and creditors.
During 2024, the City’s governmental activities net position increased by $28,032,668 from 2023,
or approximately 15.77%.
As of December 31, 2024, the City’s governmental funds reported combined ending fund balances
of $112,718,955, an increase of $17,958,250. Approximately 54.38% of this total amount,
$61,291,911 is available for spending at the City’s discretion (assigned and unassigned fund
balance).
At the close of 2024, the unassigned fund balance for the general fund was $22,535,640, or
approximately 41.49% of total general fund expenditures. The general fund unassigned balance
increased by $4,712,994 from 2023.
The City’s total general-obligation debt increased by $2,163,910 (1.71%) during 2024.The key
factor in this increase was the issuance of $17,200,000 of general obligation debt and $15,036,090
of principal payments of general obligation debt.
Overview of the Basic Financial Statements
Management’s Discussion and Analysis serves as an introduction to the City’s basic financial statements.
The City’s basic financial statements are comprised of three components: 1) government-wide financial
statements, 2) fund financial statements, and 3) notes to the basic financial statements. This report also
contains required supplemental information and other supplemental information in addition to the basic
financial statements themselves.
Government-wide financial statements. The government-wide financial statements are designed to
provide readers with a broad overview of the City’s finances, in a manner similar to a private-sector
business. The government-wide statements are made up of the statement of net position and the statement
of activities.
The statement of net position presents information on all of the City’s assets, liabilities, and deferred
outflows and inflows of resources, with the difference being reported as net position. Over time, increases
or decreases in net position may serve as a useful indicator of whether the financial position of the City is
improving or deteriorating.
The statement of activities presents information showing how the City’s net position changed during the
most recent year. All changes in net position are reported as soon as the underlying event giving rise to
the change occurs, regardless of the timing of related cash flows. Thus, revenues and expenses are
reported in this statement for some items that will only result in cash flows in future fiscal periods.(e.g.,
uncollected taxes and earned but unused vacation leave.)
Both of the government-wide financial statements distinguish functions of the City that are principally
supported by taxes and intergovernmental revenues (governmental activities) from other functions that are
intended to recover all or a significant portion of their costs through user fees and charges (business-type
activities).The governmental activities of the City include: general government, public safety, public works,
health and welfare, parks and recreation, transportation, community development, and TIF districts. The
business-type activities of the City include mass transit services, water utility, sewer utility, parking utility,
Oshkosh redevelopment project, industrial park, stormwater utility and inspection services.
The government-wide financial statements include not only the City itself (known as the primary
government), but also a legally separate Redevelopment Authority (component unit) for which the City is
MDA 1
CITY OF OSHKOSH, WISCONSIN
Management’s Discussion and Analysis
financially accountable. Financial information for the component unit is reported separately from the
financial information presented for the primary government itself.
Fund financial statements. A fund is a grouping of related accounts that is used to maintain control over
resources that have been segregated for specific activities or objectives. The City, like other state and local
governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal
requirements. All of the funds of the City can be divided into three categories: governmental funds,
proprietary funds and fiduciary funds.
Governmental funds. Governmental funds are used to account for essentially the same functions reported
as governmental activities in the government-wide financial statements. However, unlike the government-
wide financial statements, governmental fund financial statements focus on near-term inflows and outflows
of spendable resources, as well as on balances of spendable resources available at the end of the fiscal
year. Such information may be useful in evaluating the City’s near-term financing requirements.
Because the focus of governmental funds is narrower than that of the government-wide financial
statements, it is useful to compare the information presented for governmental funds with similar information
presented for governmental activities in the government-wide financial statements. This comparison may
help readers better understand the long-term impact of the City’s near-term financing decisions. Both the
governmental fund balance sheet and the governmental fund statement of revenues, expenditures, and
changes in fund balances provide a reconciliation to facilitate this comparison between governmental funds
and governmental activities.
The City maintains 73 individual governmental funds. Information is presented separately in the
governmental fund balance sheet and in the governmental fund statement of revenues, expenditures and
changes in fund balances for the general fund, debt service fund, equipment fund, and special assessment
improvement funds which are considered to be major funds. Data from the other 69 governmental funds
are combined into a single, aggregated presentation. Individual fund data for each of these nonmajor
governmental funds is provided in the form of combining statements elsewhere in this report.
The City adopts an annual appropriated budget for the general fund, certain special revenue funds, and the
debt service fund. As part of the required supplementary information, budgetary comparison statements
have been provided for the general fund to demonstrate compliance with the budget.
Proprietary funds. The City maintains two different types of proprietary funds. Enterprise funds are used
to report the same functions presented as business-type activities in the government-wide financial
statements. The City maintains 8 individual enterprise funds. Internal service funds are an accounting
device used to accumulate and allocate costs internally among the City’s various functions. The City
maintains 5 individual internal service funds. Because these services predominantly benefit governmental
rather than business-type functions, they have been included within governmental activities in the
government-wide financial statements.
Proprietary funds provide the same type of information as the government-wide financial statements, only
in more detail. The proprietary fund financial statements provide separate information for the transit utility,
water utility, sewer utility, and stormwater utility, all of which are considered to be major funds of the City.
Data from the other 4 enterprise funds are combined into a single, aggregated presentation. Individual fund
data for each of these nonmajor enterprise funds is provided in the form of combining statements elsewhere
in this report. The 5 internal service funds are combined into a single, aggregated presentation in the
proprietary fund financial statements. Individual fund data for the internal service funds is provided in the
form of combining statements elsewhere in this report.
Fiduciary funds. Fiduciary funds are used to account for resources held for the benefit of parties outside
the government. Fiduciary funds are not reflected in the government-wide financial statements because
the resources of those funds are not available to support the City’s own programs. The accounting used
for fiduciary funds is much like that used for proprietary funds.
MDA 2
CITY OF OSHKOSH, WISCONSIN
Management’s Discussion and Analysis
Notes to the basic financial statements. The notes provide additional information that is essential to a
full understanding of the data provided in the government-wide and fund financial statements.
Required Supplementary Information. The required supplementary information provides information and
disclosures related to the City’s other post-employment benefits and pension plan, as well as budgetary
information for the general fund. The required supplementary information can be found immediately
following the footnotes.
Other information. The combining statements referred to earlier in connection with nonmajor
governmental funds, nonmajor enterprise funds and internal service funds are presented as supplementary
information immediately following the required supplementary information.
Government-wide Financial Analysis
Net position. As noted earlier, net position may serve over time as a useful indicator of a government’s
financial position. In the case of the City, assets and deferred outflows of resources exceeded liabilities
and deferred inflows of resources by $501,489,960 and $454,058,918 at the close of 2024 and 2023,
respectively.
By far the largest portion of the City’s net position (67.06%) and (65.92%) for 2024 and 2023, respectively,
reflects its investment in capital assets (e.g. land, buildings, machinery and equipment, infrastructure, etc.),
less any related debt used to acquire those assets that is still outstanding. The City uses these capital
assets to provide services to citizens; consequently, these assets are not available for future spending.
Although, the City’s investment in its capital assets is reported net of related debt, it should be noted that
the resources needed to repay this debt must be provided from other sources, since the capital assets
themselves cannot be used to liquidate these liabilities.
An additional portion of the City’s net position (12.31%) and (12.50%) for 2024 and 2023, respectively,
represents resources that are subject to external restrictions on how they may be used. The remaining
balance of unrestricted net position ($103,444,680) and ($96,734,083) for 2024 and 2023, respectively,
may be used to meet the City’s ongoing obligations to citizens and creditors.
2024 2023 2024 2023 2024 2023
Current and other assets 198,318,662$ 188,591,972$ 108,046,548$ 121,197,395$ 306,365,210$ 309,789,367$
Capital assets 213,868,437 199,940,196 437,254,091 411,597,207 651,122,528$ 611,537,403$
Total assets 412,187,099 388,532,168 545,300,639 532,794,602 957,487,738 921,326,770
Deferred outflows of resources 46,611,217 66,625,168 6,901,103 9,880,771 53,512,320 76,505,939
Long-term liabilities outstanding 146,569,659 153,595,016 243,174,893 252,584,478 389,744,552 406,179,494
Other liabilities 26,168,015 31,347,393 4,341,406 4,835,597 30,509,421 36,182,990
Total liabilities 172,737,674 184,942,409 247,516,299 257,420,075 420,253,973 442,362,484
Deferred inflows of resources 81,805,579 94,145,304 7,450,546 7,624,526 89,256,125 101,769,830
Net position:
Net investment in capital assets 113,700,586 100,609,781 222,608,218 199,594,366 336,308,804 300,204,147
Restricted 36,821,326 33,040,924 24,915,150 23,721,241 61,736,476 56,762,165
Unrestricted 53,733,151 42,418,918 49,711,529 54,315,165 103,444,680 96,734,083
Total net position 204,255,063$ 176,069,623$ 297,234,897$ 277,630,772$ 501,489,960$ 453,700,395$
City of Oshkosh's Net Position
December 31, 2024 and 2023
Governmental Activities Business-type Activities Total Primary Government
MDA 3
CITY OF OSHKOSH, WISCONSIN
Management’s Discussion and Analysis
Change in net position. Governmental activities increased the City’s net position by $28,032,668 in 2024
and increased by $3,812,067 in 2023. Business-type activities increased the City’s net position by
$19,756,897 in 2024 and by $18,335,256 in 2023. Total net position of the City increased in 2024 by
$47,789,565 and in 2023 by $22,280,007. Key elements of this change are as follows:
Revenues are categorized into program revenues and general revenues. In 2024, primary government
program revenues experienced a significant increase of 25.3% compared to 2023. When consolidating
operating and capital grants along with contributions pertaining to governmental activities, these elements
account for 55.5% of the governmental activities program revenues in 2024, thereby forming the bulk of the
revenue structure. This marks a notable rise from 2023, where these combined grants and contributions
comprised 27.8% of governmental activities program revenues. General revenues remained stable from
2023 to 2024, exhibiting a marginal rise in tax collections and other revenue streams.
Expenditure analysis reveals a categorical allocation by City function. Public safety constitutes the
predominant expenditure category for governmental activities, representing 37.1% of total outlays.
However, this category witnessed a reduction of $2,936,298, or roughly 8%, from the year 2023. Also on
the governmental activities side, Public works ranks as the second-largest expenditure function, accounting
for 18.9% of total expenditures, while general government functions comprise 13.4% of the expenditure
framework. Business-type activities experienced a modest rise in expenses, amounting to just 4.9%.
2024 2023 2024 2023 2024 2023
Revenues:
Program Revenues
Charges for Services 15,771,269$ 13,738,358$ 60,373,468$ 55,057,405$ 76,144,737$ 68,795,763$
Operating Grants and Contributions 5,191,913 3,716,565 4,497,871 6,067,361 9,689,784 9,783,926
Capital Grants and Contributions 14,488,597 1,576,661 139,206 9,485 14,627,803 1,586,146
General Revenues
Property and Other Taxes 52,708,284 49,671,659 856,600 809,500 53,564,884 50,481,159
Grants and Contributions Not -
Restricted to Specific Programs 18,206,706 18,368,054 - - 18,206,706 18,368,054
Other 9,529,221 6,578,696 4,335,529 4,547,105 13,864,750 11,125,801
Total Revenues 115,895,990 93,649,993 70,202,674 66,490,856 186,098,664 160,140,849
Expenses:
General Government 11,989,110 10,163,970 - - 11,989,110 10,163,970
Public Safety 33,178,831 36,115,129 - - 33,178,831 36,115,129
Public Works 16,898,339 14,935,074 - - 16,898,339 14,935,074
Transportation 928,144 940,189 - - 928,144 940,189
Health and Human Services 1,141,474 1,204,953 - - 1,141,474 1,204,953
Culture and Recreation 9,263,720 14,464,154 - - 9,263,720 14,464,154
Conservation and Development 10,669,512 9,021,225 - - 10,669,512 9,021,225
Unclassified 569,562 571,916 - - 569,562 571,916
Interest and Fiscal Charges 4,767,230 3,963,916 - - 4,767,230 3,963,916
Transit Utility - - 6,178,331 6,458,182 6,178,331 6,458,182
Water Utility - - 14,523,030 13,482,273 14,523,030 13,482,273
Sewer Utility - - 15,274,244 14,408,847 15,274,244 14,408,847
Stormwater Utility - - 9,402,907 8,633,769 9,402,907 8,633,769
Non Major Funds - - 3,524,665 3,497,245 3,524,665 3,497,245
Total Expenses 89,405,922 91,380,526 48,903,177 46,480,316 138,309,099 137,860,842
Transfers 1,542,600 1,542,600 (1,542,600) (1,542,600) - -
Total Expenses and Transfers 87,863,322 89,837,926 50,445,777 48,022,916 138,309,099 137,860,842
Change in Net Position 28,032,668 3,812,067 19,756,897 18,467,940 47,789,565 22,280,007
Net Position - January 1 176,222,395 172,101,980 277,478,000 259,295,516 453,700,395 431,397,496
Prior Period Adjustments - 22,892 - - - 22,892
Net Position - January 1, Restated 176,222,395 172,124,872 277,478,000 259,295,516 453,700,395 431,420,388
Net Position - December 31 204,255,063$ 175,936,939$ 297,234,897$ 277,763,456$ 501,489,960$ 453,700,395$
Governmental Activities Business-type Activities Total Primary Government
City of Oshkosh's Change in Net Position
For Years Ended December 31, 2024 and 2023
MDA 4
CITY OF OSHKOSH, WISCONSIN
Management’s Discussion and Analysis
Financial Analysis of the City’s Funds
As noted earlier, the City uses fund accounting to ensure and demonstrate compliance with finance-related
legal requirements.
Governmental funds. The focus of the City’s governmental funds is to provide information on near-term
inflows, outflows, and balances of spendable resources. Such information is useful in assessing the City’s
financing requirements. In particular, unassigned fund balance may serve as a useful measure of the City’s
net resources available for spending at the end of the fiscal year.
As of December 31, 2024 and 2023, the City’s governmental funds reported combined ending fund
balances of $112,718,955 and $94,760,705, an increase of $17,958,250 and a decrease of $-13,400,087
in 2023. Of the total fund balance, $8,867,500 constitutes unassigned fund balance, which is available for
spending at the City’s discretion. The remainder of fund balance is nonspendable, restricted, committed or
assigned to indicate that it is not available for new spending because it has already been committed as
follows:
Details of these fund balance categories can be found in Note 8 – Fund Equity.
The general fund is the chief operating fund of the City. At the end of 2024 and 2023, unassigned fund
balance of the general fund was $22,535,640 and $17,822,646, respectively, while total fund balance
reached $22,961,968 and $18,132,693 respectively. As a measure of the general fund’s liquidity, it is useful
to compare unassigned fund balance to total fund expenditures. Unassigned fund balance represents
41.49% and 34.68% of total general fund expenditures.
In 2024, the City's general fund balance rose by $4,829,275, attributed to higher-than-anticipated revenues
coupled with prudent spending efforts aimed at reducing expenditures.
The debt service fund has a total fund balance of $2,361,305 as of December 31, 2024, an increase of
$809,346 from December 31, 2023.
Proprietary funds. The City’s proprietary funds provide the same type of information found in the City’s
government-wide financial statements, but in more detail.
2024 2023
Nonspendable
Inventories and prepaid items 6,665,114$ 3,965,909$
Restricted for
Tax incremental district development 15,560,382$ 12,464,418$
Debt service 2,361,305 1,551,959
Special purposes 7,889,783 7,662,340
Trust agreements 9,699,044 10,497,200
Total restricted 35,510,514$ 32,175,917$
Committed to
Special purposes 9,251,416$ 9,024,540$
Assigned to
Subsequent year's budget
Special purposes 12,300,852$ -$
Construction of assets 40,123,559 45,035,992
Total assigned 52,424,411$ 45,035,992$
City of Oshkosh's Governmental Fund Balances
MDA 5
CITY OF OSHKOSH, WISCONSIN
Management’s Discussion and Analysis
Unrestricted net position of the enterprise funds at the end of 2024 and 2023 amounted to $49,183,226 and
$53,695,749, respectively. Net position increased $19,582,554 in 2024 and increased $18,183,226 in 2023.
Other factors concerning the finances of these funds have already been addressed in the discussion of the
City’s business-type activities.
General Fund Budgetary Highlights
Generally, the original budget is rarely modified.
During 2024 actual revenues were greater than budgeted revenues by $2,400,256. Actual expenditures
were less than budgeted by $2,571,143 which left a total budget surplus of $4,971,399. The largest
contributor to the excess revenues was investment earnings while the largest savings in expenditures came
from personnel expenses.
During 2023 actual revenues were greater than budgeted revenues by $2,359,396, primarily in investment
earnings. Actual expenditures were less than budgeted by $1,340,902, which left a total budget unspent
of $3,700,298.
Capital Asset and Debt Administration
Capital assets. The City’s investment in capital assets for its governmental and business-type activities
as of December 31, 2024 and 2023, amounted to $651,122,528 and $610,644,080 (net of accumulated
depreciation), respectively. This investment in capital assets includes land, land improvements, buildings,
machinery and equipment, vehicles, public domain infrastructure, and construction in progress. The City’s
capital assets increased by $40,478,448 or 6.63% for 2024 and increased by $35,756,755 or 6.22% for
2023.
The governmental activities encompassed street construction totaling $7,527,755 and $10,950,763, as well
as land purchases of $2,496,958 and $801,751. Vehicle acquisitions amounted to $4,710,393 and
$1,781,229, with approximately 70% of these funds allocated to purchasing emergency vehicles.
Additionally, there were building improvements and contents valued at $5,270,212 and $13,562,884,
respectively.
In 2024, business-type activities did not involve any land purchases or improvements, compared to
$990,365 spent in 2023. Enhancements to water, sewer, and stormwater utilities amounted to $27,623,597
and $17,387,752, respectively.
2024 2023 2024 2023 2024 2023
Land 26,737,371$ 24,240,413$ 15,226,133$ 15,226,133$ 41,963,504$ 39,466,546$
Construction in progress 787,140 1,058,587 29,184,387 19,118,483 29,971,527 20,177,070
Buildings & systems 62,096,213 58,717,885 327,369,643 313,632,723 389,465,856 372,350,608
Infrastructure 86,707,971 83,780,600 - - 86,707,971 83,780,600
Machinery and equipment 37,539,742 32,142,711 65,473,928 62,726,545 103,013,670 94,869,256
Total 213,868,437$ 199,940,196$ 437,254,091$ 410,703,884$ 651,122,528$ 610,644,080$
City of Oshkosh's Capital Assets
Governmental Activities Business-type Activities Total Primary Government
MDA 6
CITY OF OSHKOSH, WISCONSIN
Management’s Discussion and Analysis
Long-term Debt At the end of 2024 and 2023, the City had total bonded debt outstanding of $352,477,580
and $356,546,278, respectively. Of this amount, $128,697,152 and $126,533,242, respectively, comprises
debt backed by the full faith and credit of the government. The remainder of the City’s debt represents
bonds secured solely by specified revenue sources (i.e., revenue bonds).
The City’s total debt decreased by $-4,068,698 (-1.14%) in 2024 and decreased by $-11,974,375 (-3.25%)
in 2023. The City maintains an Aa3 rating from Moody’s Investors Service for its general obligation debt as
of December 31, 2024. The water utility and sewer utility both maintain an Aa3 rating, while the stormwater
utility maintains an A1 rating from Moody’s Investors Service for their respective revenue bonds as of
December 31, 2024. The City issued $17,200,000 in general obligation notes in 2024 for the purchase of
capital assets. The City also issued $5,290,000 in water utility revenue bonds and $3,975,000 in sewer
utility revenue bonds for the repair and construction of the City’s utility systems. In 2024, the City repaid
$15,036,090 in principal on general obligation debt and $15,497,608 in principal on revenue bonds.
State statutes limit the amount of general obligation debt the City may issue to 5% of its total equalized
valuation. The debt limitation for 2024 and 2023 for the City was $316,319,835 and $290,607,900,
respectively, which is significantly in excess of the City’s $128,697,152 and $126,533,242 outstanding
general obligation debt.
Economic Factors and Next Year’s Budgets and Rates
The City of Oshkosh is located in northeastern Wisconsin along the western shores of Lake Winnebago.
Oshkosh has the resources that business and entrepreneurs need to reach their goals and find success.
Oshkosh is home to many successful businesses that are powered by the area’s exceptional workforce.
The City plays host to hundreds of local, regional, national and international events each year.
The economic condition and outlook of the City has remained fairly stable based on a relatively healthy mix
of manufacturing, tourism, service industry and retail activities which support our tax base. Inflationary
trends in our region compare favorably to national indices.
The City adopts operating budgets for its governmental funds (General, Special Revenue, Debt Service,
and Capital Projects) and enterprise funds (Water, Sewer, and Stormwater Utilities). The 2025 fiscal year
combined operating budget includes $160 million in projected revenues and $164 million in projected
expenditures and transfers.
Funding for the operating budget of the City is provided from many sources, including property taxes, room
taxes, grants and aids from the State and County, user fees, permits and licenses, fines, and other
miscellaneous revenues. Several revenue sources are more sensitive to economic factors, in particular
building permits, room taxes and investment earnings. The 2025 budget was developed to consider then
current expectations for such revenue sources compared to 2024 actual results, reflecting the economic
outlook at that time coupled with known development projects. Comparatively strong new construction
values provided property tax levy flexibility, which is expected to continue for the 2026 budget.
Expenditures for salaries, which represent the single largest operating cost, continue to be moderate given
the inflationary economy and active labor relations efforts. An additional factor limiting such costs was the
passage of Wisconsin Act 10 in 2011 which mandated employee payment of pension contributions for most
employee groups. All eligible city employees contributed towards the pension program. The City’s ongoing
2024 2023 2024 2023 2024 2023
General obligation debt:
Bonds & notes 123,207,343$ 119,340,738$ 5,489,809$ 7,192,504$ 128,697,152$ 126,533,242$
Total general obligation debt 123,207,343 119,340,738 5,489,809 7,192,504 128,697,152 126,533,242
Revenue bonds - - 223,780,428 230,013,036 223,780,428 230,013,036
Total 123,207,343$ 119,340,738$ 229,270,237$ 237,205,540$ 352,477,580$ 356,546,278$
City of Oshkosh's Outstanding Debt
Governmental Activities Business-type Activities Total Primary Government
MDA 7
CITY OF OSHKOSH, WISCONSIN
Management’s Discussion and Analysis
cost control efforts towards management of health care costs resulted in no increase in budgeted health
care premium contributions charged to department budgets. The 2025 operating budget does not contain
significant major initiatives. Capital budgets maintained an emphasis on enhancing maintenance of City
facilities and infrastructure.
Contacting the City’s Financial Management
This financial report is designed to provide a general overview of the City’s finances for all those with an
interest in the City’s finances. Questions concerning any of the information provided in this report or
requests for additional financial information should be addressed to City of Oshkosh Finance Office, P. O.
Box 1130, Oshkosh, Wisconsin 54903-1130.
MDA 8
BASIC FINANCIAL STATEMENTS
ASSETS
Current Assets
Cash and Investments $ 106,696,749 $ 38,448,755 $ 145,145,504 $ 145,451,935 $347,157
Taxes Receivable 33,142,766 1,343,218 34,485,984 37,413,559 -
Due from Other Governments - 2,463,408 2,463,408 2,172,631 -
Accounts Receivable 6,690,700 10,219,060 16,909,760 14,235,585 600
Interest Receivable 387,907 - 387,907 11,392 -
Special Assessments 6,039,579 33,404 6,072,983 5,281,113 -
Other Receivables - - - 30,738 -
Loans Receivable 5,631,784 - 5,631,784 5,969,699 -
Lease Receivable - 93,917 93,917 91,711 -
Deposits with GO HNI 21,857 - 21,857 - -
Internal Balances (528,303) 528,303 - - -
Inventory and Prepaid Items 1,067,317 2,271,367 3,338,684 3,154,920 -
Total Current Assets 159,150,356 55,401,432 214,551,788 213,813,283 347,757
Noncurrent Assets
Restricted Cash and Investments 39,168,306 47,872,456 87,040,762 91,109,507 -
Asset Held for Resale - 4,447,936 4,447,936 4,447,936 8,018,709
Lease Receivable - 324,724 324,724 418,641 -
Capital Assets - Nondepreciable 27,524,511 44,410,520 71,935,031 59,643,616 -
Capital Assets - Depreciable, Net 186,343,926 392,843,571 579,187,497 551,893,787 -
Total Noncurrent Assets 253,036,743 489,899,207 742,935,950 707,513,487 8,018,709
TOTAL ASSETS 412,187,099 545,300,639 957,487,738 921,326,770 8,366,466
DEFERRED OUTFLOWS OF RESOURCES
Deferred Outflows of Resources Related to Pension 42,098,379 5,528,583 47,626,962 70,305,671 -
Deferred Outflows of Resources Related to
Other Post-Employment Benefits 4,512,838 1,333,761 5,846,599 6,126,088 -
Deferred Charge on Refunding - 38,759 38,759 74,180 -
Total Deferred Outflows of Resources 46,611,217 6,901,103 53,512,320 76,505,939 -
LIABILITIES
Current Liabilities
Accounts Payable 13,933,773 1,069,861 15,003,634 13,133,824 16,092
Accrued Liabilities 3,865,473 1,004,988 4,870,461 2,271,845 -
Accrued Interest Payable 1,332,946 1,868,898 3,201,844 2,761,670 -
Deposits from Others 1,899,161 20,894 1,920,055 1,941,066 25,000
Current Portion of Compensated Absences 548,253 229,130 777,383 691,079 -
Current Portion of Long-Term Obligations 13,507,644 17,255,636 30,763,280 30,533,698 -
Current Portion of Other Post-Employment Benefits Liability 195,594 59,223 254,817 227,980 -
Unearned Revenues:
Grants 18,786 88,412 107,198 90,589 -
American Rescue Plan Act Funds 4,374,029 - 4,374,029 15,064,937 -
Total Current Liabilities 39,675,659 21,597,042 61,272,701 66,716,688 41,092
Noncurrent Liabilities
Net Pension Liability 4,720,471 619,917 5,340,388 18,773,078 -
Other Post-Employment Benefits Liability 7,635,704 2,299,881 9,935,585 10,108,970 -
Compensated Absences 4,435,866 916,519 5,352,385 4,805,725 -
Noncurrent Portion of Long-Term Obligations 116,269,974 222,082,940 338,352,914 341,958,023 -
Total NonCurrent Liabilities 133,062,015 225,919,257 358,981,272 375,645,796 -
TOTAL LIABILITIES 172,737,674 247,516,299 420,253,973 442,362,484 41,092
DEFERRED INFLOWS OF RESOURCES
Taxes Levied for Subsequent Period 50,915,721 2,063,400 52,979,121 55,285,527 -
Lease Receivable - 418,641 418,641 510,352 -
Deferred Inflows of Resources Related to Pension 25,334,242 3,327,028 28,661,270 39,415,474 -
Deferred Inflows of Resources Related to
Other Post-Employment Benefits 5,555,616 1,641,477 7,197,093 6,558,477 -
Total Deferred Inflows of Resources 81,805,579 7,450,546 89,256,125 101,769,830 -
NET POSITION
Net Investment in Capital Assets 113,700,586 222,608,218 336,308,804 300,204,147 -
Restricted 36,821,326 24,915,150 61,736,476 56,762,165 -
Unrestricted 53,733,151 49,711,529 103,444,680 96,734,083 8,325,374
TOTAL NET POSITION $ 204,255,063 $ 297,234,897 $ 501,489,960 $ 453,700,395 $ 8,325,374
Redevelopment
Authority
CITY OF OSHKOSH, WISCONSIN
Statement of Net Position
As of December 31, 2024
With Summarized Information from December 31, 2023
Component Unit
2023
Type
Business -
Activities
Governmental
Activities
Totals
2024
See Accompanying Notes
4
GOVERNMENTAL ACTIVITIES
General Government $ 11,989,110 $ 991,983 $ 146,630 $ 2,619,053
Public Safety 33,178,831 5,370,872 1,873,705 3,053,393
Public Works 16,898,339 7,520,217 1,324,518 5,472,585
Transportation 928,144 - - -
Health and Human Services 1,141,474 62,976 93,746 -
Culture and Recreation 9,263,720 850,269 1,020,829 2,034,345
Conservation and Development 10,669,512 974,952 732,485 1,309,221
Unclassified 569,562 - - -
Interest and Fiscal Charges 4,767,230 - - -
Total Governmental Activities 89,405,922 15,771,269 5,191,913 14,488,597
BUSINESS-TYPE ACTIVITIES
Transit Utility 6,178,331 960,493 4,497,871 -
Water Utility 14,523,030 19,423,019 - 64,691
Sewer Utility 15,274,244 20,435,635 - 34,969
Stormwater Utility 9,402,907 15,300,907 - 39,546
Parking Utility 212,252 138,807 - -
Oshkosh Redevelopment Project 2,235,226 2,663,928 - -
Industrial Park 31,673 11,083 - -
Inspection Services 1,045,514 1,439,596 - -
Total Business-Type Activities 48,903,177 60,373,468 4,497,871 139,206
TOTAL CITY OF OSHKOSH $ 138,309,099 $ 76,144,737 $ 9,689,784 $ 14,627,803
COMPONENT UNIT
GENERAL REVENUES:
Taxes:
General Property Taxes
Tax Increments
Other Taxes
State and Federal Aids not Restricted to
Specific Functions
Interest and Investment Returns
Miscellaneous
Total General Revenues
TRANSFERS
CHANGE IN NET POSITION
NET POSITION - BEGINNING OF YEAR, AS PREVIOUSLY PRESENTED
Error Correction
Change in Accounting Principle
NET POSITION - BEGINNING OF YEAR, AS ADJUSTED
NET POSITION - END OF YEAR
CITY OF OSHKOSH, WISCONSIN
Statement of Activities
For the Year Ended December 31, 2024
Expenses Services Contributions
Grants and Charges for
Contributions
Grants and
With Summarized Information from December 31, 2023
Program Revenues
Operating Capital
See Accompanying Notes
5
$ (8,231,444) $- (8,231,444) (9,111,539) -
(22,880,861) - (22,880,861) (30,209,749) -
(2,581,019) - (2,581,019) (7,498,632) -
(928,144) - (928,144) (940,189) -
(984,752) - (984,752) (1,041,141) -
(5,358,277) - (5,358,277) (12,391,244) -
(7,652,854) - (7,652,854) (6,620,616) -
(569,562) - (569,562) (571,916) -
(4,767,230) - (4,767,230) (3,963,916) -
(53,954,143) - (53,954,143) (72,348,942) -
- (719,967) (719,967) 692,847 -
- 4,964,680 4,964,680 4,037,190 -
- 5,196,360 5,196,360 3,728,692 -
- 5,937,546 5,937,546 5,661,106 -
- (73,445) (73,445) (155,713) -
- 428,702 428,702 422,884 -
- (20,590) (20,590) (2,648) -
- 394,082 394,082 269,577 -
- 16,107,368 16,107,368 14,653,935 -
(53,954,143) 16,107,368 (37,846,775) (57,695,007) -
46,702,973 856,600 47,559,573 45,730,200 -
4,717,352 - 4,717,352 4,103,892 -
1,287,959 - 1,287,959 647,067 -
18,206,706 - 18,206,706 18,368,054 -
7,324,533 4,266,762 11,591,295 9,909,133 -
2,204,688 68,767 2,273,455 1,216,668 20,967
80,444,211 5,192,129 85,636,340 79,975,014 20,967
1,542,600 (1,542,600) - - -
28,032,668 19,756,897 47,789,565 22,280,007 78,669
176,222,395 277,345,316 453,567,711 431,911,595 8,246,705
- 132,684 132,684 760,639 -
- - - (1,251,846) -
176,222,395 277,478,000 453,700,395 431,420,388 8,246,705
$ 204,255,063 $ 297,234,897 $ 501,489,960 $ 453,700,395 8,325,374
Component
Unit
Redevelopment
Authority 2024ActivitiesActivities
Governmental Business-Type
Net (Expense) Revenue
2023
and Changes in Net Position
See Accompanying Notes
6
ASSETS
Cash and Investments $ 25,996,369 $ 7,039,265 $ 8,235,311
Receivables:
Accounts Receivable 5,487,524 - -
Property Taxes 13,267,762 8,723,040 498,320
Special Assessments - - -
Interest Receivable 357,930 - -
Loans Receivable - - -
Due from Other Governments - - -
Due from Other Funds 2,195,403 - 5,086,408
Inventory and Prepaid Items 426,328 - -
TOTAL ASSETS $ 47,731,316 $ 15,762,305 $ 13,820,039
LIABILITIES
Accounts Payable $ 479,520 $ 1,000 $ 753,687
Accrued Liabilities 3,865,473 - -
Due to Other Funds - - -
Deposits from Others 36,907 - -
Unearned Revenues:
Grant 2,948 - -
American Rescue Plan Act Funds - - -
Total Liabilities 4,384,848 1,000 753,687
DEFERRED INFLOWS OF RESOURCES
Taxes Levied for Subsequent Period 20,384,500 13,400,000 765,500
Special Assessments - - -
Total Deferred Inflows of Resources 20,384,500 13,400,000 765,500
FUND BALANCES
Nonspendable 426,328 - -
Restricted - 2,361,305 -
Committed ---
Assigned - - 12,300,852
Unassigned (Deficit)22,535,640 - -
Total Fund Balances 22,961,968 2,361,305 12,300,852
TOTAL LIABILITIES, DEFERRED INFLOWS
OF RESOURCES AND FUND BALANCES $ 47,731,316 $ 15,762,305 $ 13,820,039
CITY OF OSHKOSH, WISCONSIN
Balance Sheet
Governmental Funds
As of December 31, 2024
With Summarized Information from December 31, 2023
General Debt Service Equipment
See Accompanying Notes
7
$ 20,316,149 $ 77,535,610 $ 139,122,704 $ 128,915,211
- 1,033,397 6,520,921 5,141,672
- 10,653,644 33,142,766 36,833,920
6,024,405 15,174 6,039,579 5,281,113
29,092 885 387,907 11,392
- 5,631,784 5,631,784 5,969,699
- 21,857 21,857 -
- 8,167,691 15,449,502 14,727,770
310 78,002 504,640 319,608
$ 26,369,956 $ 103,138,044 $ 206,821,660 $ 197,200,385
$ 140 $ 10,261,350 $ 11,495,697 $ 9,629,066
- - 3,865,473 1,266,857
- 15,449,502 15,449,502 14,727,770
1,498,983 363,271 1,899,161 1,920,063
- 15,838 18,786 62,626
- 4,374,029 4,374,029 15,064,937
1,499,123 30,463,990 37,102,648 42,671,319
- 16,365,721 50,915,721 54,428,927
6,084,336 - 6,084,336 5,339,434
6,084,336 16,365,721 57,000,057 59,768,361
310 6,238,476 6,665,114 3,965,909
- 33,149,209 35,510,514 32,175,917
- 9,251,416 9,251,416 9,024,540
18,786,187 21,337,372 52,424,411 45,035,992
- (13,668,140) 8,867,500 4,558,347
18,786,497 56,308,333 112,718,955 94,760,705
$ 26,369,956 $ 103,138,044 $ 206,821,660 $ 197,200,385
Totals
2024 2023Funds
Special
Assessment
Improvement
Governmental
Nonmajor
See Accompanying Notes
8
2024 2023
Total Fund Balances - Governmental Funds 112,718,955$ 94,760,705$
Total net position reported for governmental activities in the statement
of net position is different from the amount reported above as total
governmental funds fund balance because:
Capital assets used in government activities are not financial resources and
therefore are not reported in the fund statements. Amounts reported for
governmental activities in the statement of net position:
Some receivables that are not currently available are reported as deferred
inflows of resources in the fund financial statements but are recognized as
revenue when earned in the government-wide statements.
position as governmental activities 4,508,428 3,665,042
Some deferred outflows and inflows of resources reflect changes in long-term
liabilities and are not reported in the funds.
the fund financial statements (4,720,471) (16,543,381)
not reported in the fund financial statements (7,831,298) (7,859,812)
current period and therefore not reported in the fund statements. Noncurrent
liabilities reported in the statement of net position that are not reported in the
funds balance sheet:
Total Net Position - Governmental Activities
CITY OF OSHKOSH, WISCONSIN
With Summarized Information from December 31, 2023
As of December 31, 2024
Governmental Funds to the Statement of Net Position
Reconciliation of the Balance Sheet
See Accompanying Notes
9
THIS PAGE LEFT BLANK INTENTIONALLY
REVENUES
Taxes $ 24,529,310 $ 13,897,400 $ 1,205,500
Special Assessments - - -
Intergovernmental 19,322,893 - -
Licenses and Permits 880,023 - -
Fines, Forfeitures and Penalties 695,492 - -
Charges for Services 5,088,863 - -
Intergovernmental Charges for Services 2,837,707 - -
Investment Earnings - 449,397 -
Donations - - -
Miscellaneous 4,108,725 - -
Total Revenues 57,463,013 14,346,797 1,205,500
EXPENDITURES
Current:
General Government 8,109,351 - 50,111
Public Safety 35,074,812 - 2,557
Public Works 4,523,027 - 813,846
Transportation 928,144 - -
Health and Human Services - - -
Culture and Recreation 3,099,578 - -
Conservation and Development 2,010,998 - 449,789
Unclassified 569,562 - -
Debt Service:
Principal - 11,008,527 -
Interest and Fiscal Charges - 3,954,061 -
Capital Outlay - - 8,218,270
Total Expenditures 54,315,472 14,962,588 9,534,573
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES 3,147,541 (615,791) (8,329,073)
OTHER FINANCING SOURCES (USE)
Proceeds of Long-Term Debt - - 4,884,400
Debt Premium - 1,425,137 -
Sale of Capital Assets 160,909 - 54,000
Transfers In 1,542,600 - -
Transfers Out (21,775) - -
Total Other Financing Sources (Use)1,681,734 1,425,137 4,938,400
NET CHANGE IN FUND BALANCES 4,829,275 809,346 (3,390,673)
FUND BALANCES - BEGINNING, AS PREVIOUSLY PRESENTED 18,132,693 1,551,959 15,691,525
Error Correction - - -
FUND BALANCES - BEGINNING, AS ADJUSTED 18,132,693 1,551,959 15,691,525
FUND BALANCES - ENDING $ 22,961,968 $ 2,361,305 $ 12,300,852
CITY OF OSHKOSH, WISCONSIN
Statement of Revenues, Expenditures and Changes in Fund Balances (Deficit)
Governmental Funds
For the Year Ended December 31, 2024
With Summarized Information from December 31, 2023
General
Debt Service
Fund Equipment
See Accompanying Notes
10
$- $ 13,076,074 $ 52,708,284 $ 49,671,659
4,209,262 194,508 4,403,770 4,353,907
- 13,750,480 33,073,373 22,930,193
- 76,235 956,258 869,481
- - 695,492 580,432
- 1,791,594 6,880,457 6,137,584
- - 2,837,707 3,377,008
- 2,972,950 3,422,347 5,062,288
- 1,697,759 1,697,759 763,009
- 4,152,007 8,260,732 1,343,949
4,209,262 37,711,607 114,936,179 95,089,510
- 1,522,598 9,682,060 7,521,449
- 3,472,905 38,550,274 33,503,060
214,696 5,208,954 10,760,523 10,506,334
- - 928,144 940,189
- 1,164,388 1,164,388 1,107,916
- 8,534,884 11,634,462 11,437,326
- 6,078,555 8,539,342 6,607,741
- - 569,562 571,916
1,050,000 1,274,868 13,333,395 14,294,902
214,275 298,931 4,467,267 4,758,064
- 9,512,888 17,731,158 25,689,308
1,478,971 37,068,971 117,360,575 116,938,205
2,730,291 642,636 (2,424,396) (21,848,695)
- 12,315,600 17,200,000 6,325,000
- - 1,425,137 453,969
- - 214,909 127,039
- 486,213 2,028,813 22,790,059
- (464,438) (486,213) (21,247,459)
- 12,337,375 20,382,646 8,448,608
2,730,291 12,980,011 17,958,250 (13,400,087)
16,056,206 43,328,322 94,760,705 107,400,153
- - - 760,639
16,056,206 43,328,322 94,760,705 108,160,792
$ 18,786,497 $ 56,308,333 $ 112,718,955 $ 94,760,705
Nonmajor
Governmental
Funds 2023
Totals
2024
Special
Assessment
Improvement
See Accompanying Notes
11
2024 2023
Net Changes in Fund Balances - Total Governmental Funds 17,958,250$ (13,400,087)$
activities are different because:
Governmental funds report capital outlays as expenditures. However, in the
statement of activities the cost of those assets is allocated over their estimated useful
lives and reported as depreciation expense.
The City disposed of assets resulting in a reduction of capital assets and recapture of
prior year depreciation expense reported on the statement of activities as a net loss
and has no affect on the governmental funds balance sheet.
current period (25,183) -
affect the fund financial statements.1,365,708 (3,880,420)
Amounts related to the other post-employment benefit that affect the statement of
(701,716) (1,019,101)
are not reported as revenue in the funds.
Vested employee benefits are reported in the government funds when amounts are
paid. The statement of activities reports the value of benefits earned during the year.
This year the accrual of these benefits was (more) less than the amount paid.(514,398) 634,092
Repayment of principal on long-term debt is reported in the governmental funds as an
expenditure, but is reported as a reduction in long-term debt in the statement of net
position and does not affect the statement of activities. The amount of long-term debt
principal payments in the current year is:13,333,395 14,294,902
Debt incurred in governmental funds is reported as an other financing source, but is
reported as an increase in outstanding long-term debt in the statement of net position,
and does not affect the statement of activities.
Long-term Debt Issued (17,200,000) (6,325,000)
Premium on Debt Issued (1,425,137) (453,969)
Interest payments on outstanding debt are reported in the governmental funds as an
expenditure when paid, in the statement of activities interest is reported as it accrues.(968,482) 222,385
Discounts, loss on advance refundings and premiums on debt issued are recorded
and are amortized over the life of the related debt issue in the governmental activties
financial statements.668,519 571,763
Internal service funds are used by management to charge the costs of certain
activities to individual funds. The net revenue (expense) of the internal service funds
is reported with governmental activities.843,386 1,231,047
Change in Net Position - Governmental Activities
CITY OF OSHKOSH, WISCONSIN
Amounts reported for governmental activities in the statement of
With Summarized Information from December 31, 2023
For the Year Ended December 31, 2024
Governmental Funds to the Statement of Activities
Reconciliation of the Statement of Revenues, Expenditures and Changes in Fund Balances (Deficit) -
See Accompanying Notes
12
THIS PAGE LEFT BLANK INTENTIONALLY
ASSETS
Current Assets:
Cash and Investments 3,384,513 11,901,578 10,986,523 8,878,510
Accounts Receivable 176,168 3,116,971 4,266,417 2,418,424
Property Taxes Levied for Subsequent Year 1,343,218 - - -
Other Receivables - - - -
Lease Receivable - 93,917 - -
Due from Other Funds - - - -
Due from Other Governments 2,463,408 - - -
Prepaid Items 250,736 316,310 336,891 101,589
Inventory 146,016 1,003,430 95,398 -
Total Current Assets 7,764,059 16,432,206 15,685,229 11,398,523
Noncurrent Assets:
Restricted Cash - 14,703,826 18,594,674 14,573,956
Asset Held for Resale - -- -
Lease Receivable - 324,724 - -
Land 367,811 141,277 301,288 9,381,340
Construction Work in Progress - 7,959,465 8,908,597 12,316,325
Buildings and Improvements 5,769,840 - - 13,163,381
Infrastructure 517,778 131,359,465 172,139,618 139,578,381
Machinery and Equipment 13,664,686 56,344,189 41,465,806 2,625,126
Accumulated Depreciation (12,762,858) (70,629,186) (77,133,609) (30,838,072)
Total Noncurrent Assets 7,557,257 140,203,760 164,276,374 160,800,437
TOTAL ASSETS 15,321,316 156,635,966 179,961,603 172,198,960
DEFERRED OUTFLOWS OF RESOURCES
Deferred Charge on Advance Refunding - 10,549 28,210 -
Deferred Outflows of Resources Related to Pension 1,353,039 1,718,473 1,531,564 456,645
Deferred Outflows of Resources Related to
Other Post-Employment Benefits 423,171 387,094 338,653 77,406
Total Deferred Outflows of Resources 1,776,210 2,116,116 1,898,427 534,051
CURRENT LIABILITIES
Accounts and Claims Payable 145,437 319,583 265,584 110,842
Accrued Liabilities - 1,004,988 - -
Accrued Interest 4,770 770,950 549,038 517,572
Due to Other Funds - - - -
Deposits from Others - 2,493 13,401 -
Unearned Revenue 87,572 - - -
Current Portion of Other Post-Employment Benefits Liability 19,055 16,544 14,199 4,067
Current Portion Compensated Absences 53,471 85,157 57,377 15,368
Current Portion of Long-Term Obligations 115,000 4,738,950 5,879,763 6,275,000
Total Current Liabilities 425,305 6,938,665 6,779,362 6,922,849
NONCURRENT LIABILITIES
Net Pension Liability 151,716 192,692 171,733 51,203
Noncurrent Portion of Other Post-Employment Benefits Liability 736,586 669,014 586,654 127,593
Noncurrent Compensated Absences 213,885 340,630 229,508 61,474
Noncurrent Portion of Long-Term Obligations 450,000 59,668,761 82,176,750 79,229,543
Total Noncurrent Liabilities 1,552,187 60,871,097 83,164,645 79,469,813
TOTAL LIABILITIES 1,977,492 67,809,762 89,944,007 86,392,662
DEFERRED INFLOWS OF RESOURCES
Total Deferred Inflows of Resources 3,398,366 1,929,188 1,338,439 370,123
NET POSITION
Net Investment in Capital Assets 6,992,257 68,738,979 67,998,513 66,954,835
Restricted 387,082 7,234,522 8,687,714 8,471,698
Unrestricted 4,342,329 13,039,631 13,891,357 10,543,693
TOTAL NET POSITION
Some amounts reported for business-type activities in the statement of net position are different because
certain internal service assets and liabilities are included with business-type activities.
Total Net Position of business-type activities as reported of the statement of net position (see page 4)
Transit Utility Water Utility Sewer Utility
Stormwater
Utility
CITY OF OSHKOSH, WISCONSIN
With Summarized Information from December 31, 2023
As of December 31, 2024
Proprietary Funds
Statement of Net Position
See Accompanying Notes
13
$3,297,631 38,448,755 44,384,906 6,742,351 5,736,256
241,080 10,219,060 9,081,867 169,779 12,046
- 1,343,218 579,639 - -
- - 30,738 - -
- 93,917 91,711 - -
1,430,771 1,430,771 1,341,845 1,735,830 1,668,399
- 2,463,408 2,172,631 - -
20,997 1,026,523 1,096,813 75,000 75,000
- 1,244,844 1,166,168 487,677 497,331
5,023,883 56,303,900 59,946,318 9,210,637 7,989,032
- 47,872,456 58,285,708 - -
4,447,936 4,447,936 4,447,936 - -
- 324,724 418,641 - -
5,034,417 15,226,133 15,226,133 - -
- 29,184,387 19,118,483 - -
8,914,150 27,847,371 27,250,927 - -
3,447,323 447,042,565 422,950,547 - -
1,725,057 115,824,864 112,889,729 - -
(6,507,504) (197,871,229) (186,599,251) - -
17,061,379 489,899,207 473,988,853 - -
22,085,262 546,203,107 533,935,171 9,210,637 7,989,032
- 38,759 74,180 - -
468,862 5,528,583 8,350,272 1,678,535 2,456,392
107,437 1,333,761 1,456,319 402,557 407,630
576,299 6,901,103 9,880,771 2,081,092 2,864,022
- 1,004,988 1,004,988 - -
26,568 1,868,898 2,397,206 - -
1,430,771 1,430,771 1,341,845 1,735,830 1,668,399
5,000 20,894 21,003 - -
840 88,412 27,963 - -
5,358 59,223 52,985 17,800 15,926
17,756 229,130 256,771 - -
246,923 17,255,636 17,200,303 - -
1,961,631 23,027,813 23,486,191 4,191,706 4,005,956
52,573 619,917 2,229,697 188,213 655,907
180,034 2,299,881 2,424,153 681,504 659,550
71,023 916,519 770,312 - -
557,886 222,082,940 230,137,023 - -
861,516 225,919,257 235,561,185 869,717 1,315,457
2,823,147 248,947,070 259,047,376 5,061,423 5,321,413
414,430 7,450,546 7,624,526 1,505,687 1,802,894
11,923,634 222,608,218 199,727,050 - -
134,134 24,915,150 23,721,241 - -
7,366,216 49,183,226 53,695,749 4,724,619 3,728,747
Totals
Governmental Activities - Internal
Service Funds
2024 202320242023Nonmajor Funds
See Accompanying Notes
14
OPERATING REVENUES
Charges for Services $ 918,564 $ 19,212,346 $ 20,431,633
Taxes - - -
Fines, Forfeitures and Penalties - - -
Other Operating Revenues 41,929 210,673 4,002
Total Operating Revenues 960,493 19,423,019 20,435,635
OPERATING EXPENSES
Operation and Maintenance 5,364,896 8,647,047 8,479,652
Depreciation 859,028 4,071,255 4,225,355
Taxes - 195,757 181,144
Claims and Administration - - -
Total Operating Expenses 6,223,924 12,914,059 12,886,151
OPERATING INCOME (LOSS)(5,263,431) 6,508,960 7,549,484
NONOPERATING REVENUES (EXPENSES)
General Property Taxes 856,600 - -
Sale of Capital Assets 526 15,474 22,074
Nonoperating Grants 4,497,871 - -
Investment Earnings (Loss)173,885 1,066,818 1,440,417
Interest Expense (42,882) (1,687,063) (2,401,818)
Miscellaneous Expense - - (28,923)
Miscellaneous Revenue - - -
Total Nonoperating Revenues (Expenses)5,486,000 (604,771) (968,250)
INCOME (LOSS) BEFORE
CONTRIBUTIONS AND TRANSFERS 222,569 5,904,189 6,581,234
TRANSFERS OUT - (1,502,835) (39,765)
CAPITAL CONTRIBUTIONS - 64,691 34,969
CHANGE IN NET POSITION 222,569 4,466,045 6,576,438
NET POSITION - BEGINNING, AS PREVIOUSLY PRESENTED 11,499,099 84,547,087 84,001,146
Error Correction - - -
Change in Accounting Principle - - -
NET POSITION - BEGINNING, AS ADJUSTED 11,499,099 84,547,087 84,001,146
NET POSITION - ENDING
Change in net position as shown above
Some amounts reported for business-type activities in the statement of activities are different because
the net revenue (expense) of certain internal service funds are reported with business-type activities.
CITY OF OSHKOSH, WISCONSIN
Water Utility
With Summarized Information from December 31, 2023
For the Year Ended December 31, 2024
Proprietary Funds
Statement of Revenues, Expenses and Changes in Net Position
Sewer UtilityTransit Utility
See Accompanying Notes
15
$ 15,300,557 $ 1,536,767 $ 57,399,867 $ 52,098,050 $ 18,251,472 $ 18,045,223
- 2,555,474 2,555,474 2,530,104 - -
- 41,636 41,636 7,355 - -
350 119,537 376,491 421,896 1,636,874 1,502,352
15,300,907 4,253,414 60,373,468 55,057,405 19,888,346 19,547,575
3,888,021 3,190,864 29,570,480 26,471,374 5,983,239 6,196,164
2,733,860 321,253 12,210,751 11,790,303 - -
54,909 - 431,810 383,200 - -
- - - - 12,909,235 12,056,659
6,676,790 3,512,117 42,213,041 38,644,877 18,892,474 18,252,823
8,624,117 741,297 18,160,427 16,412,528 995,872 1,294,752
- - 856,600 809,500 - -
693 25,000 63,767 55,801 - -
- - 4,497,871 6,067,361 - -
1,454,954 130,688 4,266,762 4,491,304 - -
(2,685,458) (38,335) (6,855,556) (8,166,184) - -
- - (28,923) (3,215) - -
- 5,000 5,000 - - -
(1,229,811) 122,353 2,805,521 3,254,567 - -
7,394,306 863,650 20,965,948 19,667,095 995,872 1,294,752
- - (1,542,600) (1,542,600) - -
39,546 - 139,206 9,485 - -
7,433,852 863,650 19,562,554 18,133,980 995,872 1,294,752
78,536,374 18,427,650 277,011,356 259,295,516 3,728,747 2,433,995
- 132,684 132,684 - - -
- - - (285,456) - -
78,536,374 18,560,334 277,144,040 259,010,060 3,728,747 2,433,995
$ 19,562,554
194,343
2024 2023 2024 2023
Service FundsStormwater
Utility Nonmajor Funds
Totals
See Accompanying Notes
16
CASH FLOWS FROM OPERATING ACTIVITIES
Cash Received from Customers $ 970,908 19,095,878 19,709,808 15,150,925
Cash Paid To Suppliers (2,067,380) (4,983,405) (5,330,952) (3,355,994)
Cash Paid to Employees For Wages and Benefits (3,188,210) (3,666,029) (3,408,694) (590,524)
Net Cash Flows From Operating Activities (4,284,682) 10,446,444 10,970,162 11,204,407
CASH FLOWS FROM NON-CAPITAL
FINANCING ACTIVITIES
General Property Taxes 93,021 - - -
Intergovernmental Revenues 4,207,094 - - -
Miscellaneous Expenses - - (28,923) -
Due To/Due From Other Funds - - - -
Net Cash Flows From Noncapital Financing Activities 4,300,115 (1,502,835) (68,688) -
CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES
Acquisition of Capital Assets (654,977) (10,061,073) (13,904,957) (13,919,203)
Capital Assets Salvaged - 45,064 - -
Sale of Capital Assets 526 15,474 22,074 693
Capital Contributions - 64,691 34,969
Principal Payments on Long-Term Debt (115,000) (4,888,809) (5,988,799) (5,970,000)
Proceeds from Long-Term Debt - 5,290,000 3,975,000 -
Premiums Received on Long-Term Debt - 407,214 302,445 -
Interest and Fiscal Charges 1,165,739 (2,123,499) (2,821,025) (3,092,555)
Net Cash Flows From Capital and
Related Financing Activities 396,288 (11,250,938) (18,380,293) (22,941,519)
CASH FLOWS FROM INVESTING ACTIVITIES
Investment Return 173,885 1,066,818 1,440,417 1,454,954
3,384,513 26,605,404 29,581,197 23,452,466
RECONCILIATION OF CASH ACCOUNTS
Cash and Investments $ 3,384,513 11,901,578 10,986,523 8,878,510
Restricted Cash and Investments - 14,703,826 18,594,674 14,573,956
Total Reconciliation of Cash Accounts 3,384,513 26,605,404 29,581,197 23,452,466
RECONCILIATION OF OPERATING INCOME (LOSS)
TO NET CASH FLOWS FROM OPERATING ACTIVITIES
Operating Income (Loss)$ (5,263,431) $ 6,508,960 $ 7,549,484 $ 8,624,117
Adjustments to Reconcile Operating Income (Loss)
to Net Cash Flows from Operating Activities:
Depreciation 859,028 4,071,255 4,225,355 2,733,860
Meter Depreciation Charged to Sewer - 161,755 (161,755) -
Changes in Assets and Liabilities:
Accounts Receivable 10,415 (327,141) (725,827) (149,982)
Other Receivables - - - -
Prepaid Items 19,982 23,760 26,328 5,934
Inventories (4,712) (58,898) (15,066) -
Accounts and Claims Payable 12,784 (19,576) 94,676 21,161
Unearned Revenue 60,137 - - -
Deposits from Others - (60) (49) -
Compensated Absences 47,392 77,208 (15,904) 2,253
Net Pension Asset - - - -
Deferred Outflows Related to Pension 652,744 896,102 823,387 293,331
Deferred Inflows Related to Pension (310,261) (431,656) (398,581) (145,656)
Net Pension Liability (383,870) (505,454) (457,088) (149,056)
OPEB Liability (43,372) (5,801) (17,776) (40,663)
Deferred Outflows Related to OPEB 46,270 19,459 21,278 23,564
Deferred Inflows Related to OPEB 12,212 36,531 21,700 (14,456)
Net Cash Flows From
$(4,284,682) $10,446,444 $10,970,162 $11,204,407
Sewer UtilityWater UtilityTransit Utility
CASH AND INVESTMENTS - ENDING
CHANGE IN CASH AND INVESTMENTS
Stormwater
Utility
CASH AND INVESTMENTS - BEGINNING
CITY OF OSHKOSH, WISCONSIN
Statement of Cash Flows
Proprietary Funds
For the Year Ended December 31, 2024
With Summarized Information from December 31, 2023
See Accompanying Notes
17
$ 4,306,090 59,233,609 53,225,435 19,730,613 19,560,290
(2,300,223) (18,037,954) (14,679,314) (15,051,528) (14,627,409)
(1,126,261) (11,979,718) (11,711,083) (3,672,990) (3,507,248)
879,606 29,215,937 26,835,038 1,006,095 1,425,633
- 93,021 750,274 -
- 4,207,094 6,025,477 -
- (28,923) (3,215) -
5,000 5,000 - -
5,000 2,733,592 5,229,936 -
(133,128) (38,673,338) (34,176,731) -
- 45,064 - -
25,000 63,767 55,801 -
- 139,206 9,485 -
(237,695) (17,200,303) (16,589,473) -
- 9,265,000 12,585,000 -
- 709,659 924,049 -
(43,409) (6,914,749) (8,419,941) -
(389,232) (52,565,694) (45,611,810) -
130,688 4,266,762 4,491,304 -
3,297,631 86,321,211 102,670,614 6,742,351 5,736,256
$ 3,297,631 38,448,755 44,384,906 6,742,351 5,736,256
- 47,872,456 58,285,708 -
3,297,631 86,321,211 102,670,614 6,742,351 5,736,256
$ 741,297
321,253
-
55,342
(2,666)
(5,714)
-
(222,311)
312
-
7,617
-
156,125
(68,232)
(114,312)
(10,422)
11,987
9,330
Totals
Funds 2024 2023
Nonmajor
Governmental Activities - Internal
Service Funds
2024 2023
See Accompanying Notes
18
ASSETS
Cash and Investments $ 29,989,395 $ 23,868,022
Taxes Receivable 42,536,130 65,238,108
Total Assets 72,525,525 89,106,130
LIABILITIES
Due to Other Taxing Entities 72,414,539 89,075,446
Accounts Payable 110,986 30,684
Total Liabilities 72,525,525 89,106,130
NET POSITION $- $-
CITY OF OSHKOSH, WISCONSIN
2024 2023
As of December 31, 2024
Fiduciary Fund
Statement of Fiduciary Net Position
With Summarized Information from December 31, 2023
Custodial Funds
See Accompanying Notes
19
ADDITIONS
Taxes Collected on Behalf of Other Taxing Entities $ 50,489,282 $ 49,909,205
DEDUCTIONS
Taxes Remitted to Other Taxing Entities 50,489,282 49,909,205
CHANGE IN NET POSITION - -
NET POSITION - BEGINNING - -
NET POSITION - ENDING
Statement of Changes in Fiduciary Net Position
CITY OF OSHKOSH, WISCONSIN
2024 2023
With Summarized Information from December 31, 2023
For the Year Ended December 31, 2024
Fiduciary Fund
Custodial Funds
See Accompanying Notes
20
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2024
21
Note 1 - Summary of Significant Accounting Policies
This summary of significant accounting policies of the City of Oshkosh, Wisconsin (City) is presented to assist in
understanding the City’s financial statements. The financial statements and notes are representations of the City’s
management who is responsible for the integrity and objectivity of the financial statements. These accounting policies
conform to generally accepted accounting principles (GAAP) and have been consistently applied in the preparation of
the financial statements. The Governmental Accounting Standards Board (GASB) is the accepted standards setting
body for establishing governmental accounting and financial reporting principles.
Reporting Entity
The City is a municipal corporation governed by an elected seven-member council. In accordance with generally
accepted accounting principles (GAAP), the financial statements are required to include the City (the primary
government) and any separate component units that have a significant operational or financial relationship with the City.
The City has identified the following component unit that is required to be included in the basic financial statements in
accordance with the standards.
Redevelopment Authority
The component unit column in the basic financial statements include the financial data of the City’s component unit, the
Redevelopment Authority of the City of Oshkosh. It is reported in a separate column to emphasize that it is legally
separate from the City. The Redevelopment Authority’s fiscal year end is December 31. Separate financial statements
are not issued for the Redevelopment Authority.
City officials are responsible for appointing the board members of an other organization of the City of Oshkosh, but the
City’s accountability of this organization does not extend beyond making the appointments. The City is not financially
accountable for this organizations as defined by standards in GASB Statement No. 61. Therefore, this organization is
not included in the City’s reporting entity. The City appoints some or all of the members of the following organization:
Oshkosh Housing Authority
Government-Wide and Fund Financial Statements
Government-Wide Financial Statements
The government-wide financial statements (i.e., the statement of net position and the statement of activities) report
information on all of the activities of the City except those that are fiduciary. Governmental activities, which normally
are supported by taxes and intergovernmental revenues, are reported separately from business-type activities, which
rely to a significant extent on fees and charges for services.
The statement of activities demonstrates the degree to which the direct expenses of a given function are offset by
program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. Program
revenues include 1) charges to customers or applicants who purchase, use, or directly benefit from goods, services, or
privileges provided by a given function or segment, 2) grants and contributions that are restricted to meeting the
operational requirements of a particular function, and 3) capital grants and contributions. Taxes and other items not
properly included among program revenues are reported instead as general revenues.
As a general rule the effect of interfund activity has been eliminated from the government-wide financial statements.
Exceptions to this general rule are other charges between the City’s enterprise funds and various other functions of the
City. Elimination of these charges would distort the direct costs and program revenues reported for the various functions
concerned.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2024
22
Note 1 - Summary of Significant Accounting Policies (Continued)
Government-Wide and Fund Financial Statements (Continued)
Fund Financial Statements
Separate financial statements are provided for governmental funds, proprietary funds and fiduciary funds.
Governmental funds include general, special revenue, capital projects and debt service funds. Proprietary funds include
enterprise funds and internal service funds. Major individual governmental funds and major individual enterprise funds
are reported as separate columns in the fund financial statements.
Fund financial statements of the reporting entity are organized into individual funds each of which are considered to be
separate accounting entities. Each fund is accounted for by providing a separate set of self-balancing accounts which
constitute its assets, deferred outflows of resources, liabilities, deferred inflows of resources, fund equity, revenues, and
expenditures/expenses.
Funds are organized as major funds or non-major funds within the governmental and proprietary statements. An
emphasis is placed on major funds within the governmental and proprietary categories. A fund is considered major if it
is the primary operating fund of the City or meets the following criteria:
a. Total assets plus deferred outflows of resources, liabilities plus deferred inflows of resources, revenues, or
expenditures/expenses of that individual governmental or proprietary fund are at least 10 percent of the
corresponding total for all funds of that category or type and
b. The same element that met the 10 percent criterion in (a) is at least 5 percent of the corresponding element total
for all governmental and proprietary funds combined.
c. In addition, any other governmental fund that the City believes is particularly important to financial statement
users may be reported as a major fund.
Proprietary funds distinguish operating revenues and expenses from nonoperating items. Operating revenues and
expenses generally result from providing services and producing and delivering goods in connection with a proprietary
fund’s principal ongoing operations. The principal operating revenues of the City’s enterprise funds are charges to
customers for services. Operating expenses for enterprise funds include the cost of services, administrative expenses,
and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as nonoperating
revenues and expenses.
Governmental Funds
Governmental funds are identified as either general, debt service, special revenue, capital projects or trust funds based
upon the following guidelines:
General Fund
The general fund is the primary operating fund of the City and is always classified as a major fund. It is used to
account for all financial resources except those required to be accounted for in another fund.
Special Revenue Funds
Special revenue funds are used to account for the specific revenue sources (other than major capital projects) that
are legally restricted to expenditures for specific purposes.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2024
23
Note 1 - Summary of Significant Accounting Policies (Continued)
Government-Wide and Fund Financial Statements (Continued)
Governmental Funds (Continued)
Permanent Funds
Permanent funds are used to account for the specific revenue sources (other than major capital projects) that are
legally restricted to expenditures for specific donor purposes.
Debt Service Funds
Debt service funds are used to account for the accumulation of resources for, and the payment of, general long-term
principal, interest, and related costs.
Capital Projects Funds
Capital projects funds are used to account for financial resources to be used for the acquisition or construction of
major capital facilities (other than those financed by proprietary funds).
The City reports the following major governmental funds:
General Fund
This is the City’s primary operating fund. It accounts for all financial resources of the general government, except
those required to be accounted for in another fund.
Debt Service Fund
This fund accounts for the resources accumulated and payments made for principal and interest on long-term
general obligation debt of governmental funds, except debt issued to finance project plan expenditures of the City’s
tax incremental financing districts.
Equipment Fund
This fund accounts for equipment purchases of the City by improving and maintaining infrastructure.
Special Assessment Improvement Capital Projects Fund
This fund accounts for the cost of capital projects and the special assessments and subsequent assessment
collections related to those projects.
Enterprise Funds
The City reports the following major enterprise funds:
Transit Utility
This is the City’s fund to account for operations of the City bus transit system. Financing is provided through user
fees, federal and state grants and general property taxes.
Water Utility
This is the City’s fund to account for the operations of the City-owned water facilities.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2024
24
Note 1 - Summary of Significant Accounting Policies (Continued)
Government-Wide and Fund Financial Statements (Continued)
Sewer Utility
This is the City’s fund to account for the operations of the City-owned sewage facilities.
Storm Water Utility
This is the City’s fund to account for the operations of the City-owned storm water services to City residents, business
entities and public authorities.
Additionally, the City reports the following fund type:
Internal service funds account for the financing of goods and services provided by one department to other
city departments or to other governments on a cost reimbursement basis. The City has created internal
service funds for health insurance, worker’s compensation and field operations.
Fiduciary Funds
The City follows the presentation requirements of accounting principles generally accepted in the United States of
America as prescribed by the Government Accounting Standards Board and GASB Statement No. 84, Fiduciary
Activities. This statement revised the criteria on whether the government is controlling the assets of the fiduciary
activity and the beneficiaries with whom a fiduciary relationship exists. An activity meeting the criteria should present
a statement of fiduciary net position and a statement of changes in fiduciary net position. Four types of fiduciary
funds that should be reported, if applicable, include pension (and other employee benefit) trust funds, investment
trust funds, private-purpose trust funds, and custodial funds.
The City reports the following custodial fund:
Tax Collection Fund
This fund accounts for taxes and deposits collected by the City, acting in the capacity of a custodian, for distribution
to other governmental units or designated beneficiaries.
Measurement Focus And Basis Accounting
The government-wide financial statements, proprietary fund statements and fiduciary fund statements are reported
using the economic resources measurement focus and the accrual basis of accounting. Revenues are recorded when
earned and expenses are recorded when a liability is incurred, regardless of the timing of related cash flows. Property
taxes are recognized as revenues in the year for which they are levied. Grants and similar items are recognized as
revenues as soon as all eligibility requirements imposed by the provider have been met.
Governmental fund financial statements are reported using the current financial resources measurement focus and the
modified accrual basis of accounting. Revenues are recognized as soon as they are both measurable and available.
Revenues are considered to be available when they are collectible within the current period or soon enough thereafter
to pay liabilities of the current period. For this purpose, the City considers revenues to be available if they are collected
within 60 days of the end of the current fiscal period. Expenditures generally are recorded when a liability is incurred,
as under accrual accounting. However, debt service expenditures, as well as expenditures related to compensated
absences and claims and judgments, are recorded only when payment is due.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2024
25
Note 1 - Summary of Significant Accounting Policies (Continued)
Assets, Liabilities and Net Position or Equity
Cash and Investments
Cash and investments are combined. Cash deposits consist of demand and time deposits with financial institutions
and are carried at cost. For purpose of the statement of cash flows, all cash deposits and highly liquid investments
(including restricted assets) with a maturity of three months or less from date of acquisition are considered to be
cash.
The City categories the fair value measurement of its investments based on the hierarchy established by generally
accepted accounting principles. The fair value hierarchy, which has three levels, is based on the valuation inputs
used to measure an asset’s fair value: Level 1 inputs are quoted prices in active markets for identical assets; Level
2 inputs are significant other observable inputs; Level 3 inputs are significant unobservable inputs.
Restricted Cash
Enterprise Funds - Cash has been set aside to provide for debt service of the water, sewer and stormwater utilities
and replacement of certain water and sewer utilities plant equipment.
Accounts Receivable
Accounts receivables are recorded at their gross amount with uncollectible amounts being recognized under the
direct write-off method. The receivable associated with ambulance billings has been shown net of an allowance of
$901,806.
Delinquent personal property taxes remain the collection responsibility of the City. The City is able to recover a
portion of these delinquent personal property taxes from other taxing jurisdictions.
The City has received federal and state grants for rehabilitation and business development loan programs provided
to area businesses and homeowners. A loan receivable is recorded when loan funds are disbursed to area
businesses or homeowners. No allowance for uncollectible accounts has been provided since it is believed that the
amount of such allowance would not be material to the basic financial statements.
Inventories
Inventories of governmental fund types are offset by a nonspendable fund balance to indicate they do not represent
spendable available financial resources.
Inventories of governmental and proprietary fund types are recorded at cost, which approximates market, using the
first-in, first-out method of valuation. The cost is recorded as an expenditure/expense at the time individual inventory
items are consumed rather than when purchased.
Prepaid Items
Payments made to vendors that will benefit periods beyond the end of the current fiscal year are recorded as prepaid
items.
Prepaid items of governmental fund types in the fund financial statements are offset by a nonspendable fund balance
to indicate that they do not represent spendable available financial resources.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2024
26
Note 1 - Summary of Significant Accounting Policies (Continued)
Assets, Liabilities and Net Position or Equity (Continued)
Capital Assets
Capital assets, which include property, plant, equipment, and infrastructure assets, are reported in the applicable
governmental or business-type activities columns in the government-wide financial statements. Capital assets are
defined by the City as assets with an initial, individual cost of $5,000 or more and an estimated useful life in excess
of one year. Such assets are recorded at historical cost or estimated historical cost if purchased or constructed.
Donated capital assets are recorded at estimated acquisition cost at the date of donation.
In the fund financial statements, capital assets used in governmental fund operations are accounted for as capital
outlay expenditures of the governmental fund upon acquisition. Capital assets used in proprietary fund operations
are accounted for the same as in the government-wide statements.
The costs of normal maintenance and repairs that do not add to the value of the assets or materially extend asset
lives are not capitalized.
Property, plant and equipment of the City is depreciated using the straight-line method over the following estimated
useful lives:
Years
Governmental Business-Type
Assets Activities Activities
Buildings and Improvements 30 – 80 25 – 88
Machinery and Equipment 5 – 16 5 – 25
Infrastructure 15 – 20 40 – 75
Compensated Absences
The City adopted GASB Statement No. 101 for the year ended December 31, 2024, which requires that liabilities
for compensated absences be recognized for (1) leave that has not been used and (2) leave that has been used
but not yet paid in cash or settled through noncash means. A liability should be recognized for leave that has not
been used if (a) the leave is attributable to services already rendered, (b) the leave accumulates, and (c) the leave
is more likely than not to be used for time off or otherwise paid in cash or settled through noncash means.
It is the City’s policy to permit employees to accumulate earned but unused vacation, sick leave, and other benefits
at various rates depending on classification and length of service. Terminated employees are paid their unused
balances based on their current salary rates. All vacation and sick leave is accrued when incurred in the
government-wide and proprietary fund financial statements. In the governmental funds, accrued vacation and sick
pay are recognized as expenditures when liquidated with expendable available financial resources.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2024
27
Note 1 - Summary of Significant Accounting Policies (Continued)
Assets, Liabilities and Net Position or Equity (Continued)
Deferred Outflows of Resources and Deferred Inflows of Resources
In addition to assets, the balance sheet and/or statement of net position will sometimes report a separate section
for deferred outflows of resources. This separate financial statement element, deferred outflows of resources,
represents a consumption of net position that applies to a future period(s) and so will not be recognized as an
outflow of resources (expense/expenditure) until then. The City has three items that qualify for reporting in this
category. Accordingly, deferred outflows of resources related to pension, deferred outflows are resources related
to other post-employment benefits and deferred charge on refunding are reported in the statement of net
position. In addition to liabilities, the balance sheet and/or statement of net position will sometimes report a
separate section for deferred inflows of resources. The separate financial statement element, deferred inflows
of resources, represents an acquisition of net position or fund balance that applies to a future period(s) and so
will not be recognized as an inflow of resources (revenue) until that time. The City has five types of deferred
inflows of resources, one which arises under both modified accrual and the full accrual basis of accounting, one
that only arises under the modified accrual basis of accounting on the governmental funds balance sheet and
two that arise under the full accrual basis of accounting.
Taxes levied for the subsequent period have not met the time requirement to be recognized as an acquisition of
resources and is therefore reported as deferred inflows of resources on both the governmental funds balance
sheet and the governmental activities statement of net position. The governmental funds report unavailable
revenues from special assessments. These amounts are deferred and recognized as an inflow of resources in
the period that the amounts become available. Deferred inflows of resources related to pension, OPEB and
leases are reported in the statement of net position.
Pensions
The fiduciary net position of the Wisconsin Retirement System (WRS) has been determined using the flow of economic
resources measurement focus and accrual basis of accounting. This includes for purposes of measuring the following:
Net Pension Liability (Asset)
Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions
Pension Expense
Information about the fiduciary net position of the WRS and additions to/deductions from WRS’ fiduciary net position
have been determined on the same basis as they are reported by the WRS. For this purpose, benefit payments
(including refunds of employee contributions) are recognized when due and payable in accordance with the benefit
terms. Investments are reported at fair value.
Other Post-Employment Benefits – Local Retiree Life Insurance Plan (OPEB)
The fiduciary net position of the Local Retiree Life Insurance Fund (LRLIF) has been determined using the flow of
economic resources measurement focus and the accrual basis of accounting. This includes for purposes of measuring
following:
Net OPEB Liability
Deferred Outflows of Resources and Deferred Inflows of Resources Related to Other Post-Employment
Benefits
OPEB Expense (Revenue)
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2024
28
Note 1 - Summary of Significant Accounting Policies (Continued)
Assets, Liabilities and Net Position or Equity (Continued)
Information about the fiduciary net position of the LRLIF and additions to/deductions from LRLIF's fiduciary net position
have been determined on the same basis as they are reported by LRLIF. For this purpose, benefit payments (including
refunds of member contributions) are recognized when due and payable in accordance with the benefit terms.
Investments are reported at fair value.
Other Post-Employment Benefits – Single-Employer Plan (OPEB)
For purposes of measuring the total OPEB liability, deferred outflows of resources and deferred inflows of resources
related to OPEB, and OPEB expense, information about the City’s Other Post-Employment Benefit Plan have been
determined on the same basis as they are reported by the Plan. For this purpose, the Plan recognizes benefit payments
when due and payable in accordance with benefit terms. The Plan has no assets accumulated to pay this liability.
Long-Term Obligations
In the government-wide financial statements and proprietary fund types fund financial statements, long-term debt
and other long-term obligations are reported as liabilities in the applicable governmental activities, business-type
activities, or proprietary fund type statement of net position. Bond premiums and discounts, are deferred and
amortized over the life of the bonds. Bonds payable are reported net of the applicable bond premium or discount.
In the fund financial statements, governmental fund types recognize bond premiums and discounts during the
current period. The face amount of debt issued is reported as other financing sources. Premiums received on debt
issuances are reported as other financing sources while discounts on debt issuances are reported as other financing
uses.
Lease Receivables
The government as a lessor recognizes lease receivables and deferred inflows of resources at the commencement
of the lease term, with certain exceptions for leases of assets held as investments, certain regulated leases; unless
the lease is short term, or ownership is transferred of the underlying asset. As the lessor, the government continues
to recognize assets underlying leases to others. The lease receivables are measured at the present value of lease
payments expected to be received during the lease term. The deferred inflow of resources should be measured at
the value of the lease receivable plus any payments received at or before the commencement of the lease term that
relate to future periods.
Interfund Receivables and Payables
During the course of operations, numerous transactions occur between individual funds for goods provided or
services rendered. These receivables and payables are classified as “due from other funds” and “due to other funds”
on the balance sheet.
Interfund Transactions
During the course of normal operations, the City has various transactions between funds, including expenditures
and transfers of resources to provide services, construct assets and service debt. The governmental funds generally
record such transactions as operating transfers if within governmental funds. Transactions between governmental
and proprietary funds are usually recorded as revenues and either expenditures or expenses of the respective funds.
Unearned Revenue
Revenue received that has not been earned, is recorded as a liability until a period of time or expenditures occur.
Once the funds are considered earned, at that point they are recognized as revenue.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2024
29
Note 1 - Summary of Significant Accounting Policies (Continued)
Assets, Liabilities and Net Position or Equity (Continued)
Equity Classifications
Government-Wide Statements
Equity is classified as net position and displayed in three components:
Net investment in capital assets – Amount of capital assets, net of accumulated depreciation, less outstanding
balances of any bonds, mortgages, notes or other borrowings that are attributable to the acquisition, construction,
or improvements of those assets.
Restricted net position – Amount of net position that is subject to restrictions that are imposed by 1) external
groups, such as creditors, contributors or laws or regulations of other governments or 2) law through constitutional
provisions or enabling legislation.
Unrestricted net position – Net position that is neither classified as restricted nor as net investment in capital
assets.
When both restricted and unrestricted resources are available for use, it is the City’s policy to use restricted resources
first, then unrestricted resources, as they are needed.
Fund Financial Statements
Fund balance is classified as either 1) nonspendable, 2) restricted, 3) committed, 4) assigned, or 5) unassigned.
Nonspendable fund balance represents amounts that cannot be spent due to form (such as inventories and prepaid
amounts), or amounts that must be maintained intact legally or contractually (such as the principal of a permanent fund).
Restricted fund balance represents amounts constrained for a specific purpose by external parties, constitutional
provision or enabling legislation.
Committed fund balance represents amounts constrained for a specific purpose by a government using its highest level
of decision-making authority. It would require action by the same group to remove or change the constraints placed on
the resources. The action to constrain resources must occur prior to year-end; however, the amount can be determined
in the subsequent period. The Common Council is the decision-making authority that can, by adoption of a resolution
prior to the end of the fiscal year, commit fund balance.
Assigned fund balance, in the general fund, represents amounts constrained by the Common Council for a specific
intended purpose. The City has not delegated that authority to others. Assigned fund balance in all other governmental
funds represents any positive remaining amount after classifying nonspendable, restricted or committed fund balance.
Unassigned fund balance, represents amounts not classified as nonspendable, restricted, committed or assigned. The
general fund is the only fund that would report a positive amount in the unassigned fund balance.
The City, unless otherwise required by law or agreements, spends funds in the following order: restricted first, then
committed, then assigned, and lastly unassigned.
The City has also adopted a minimum fund balance policy of 16% of subsequent year budgeted expenditures for the
general fund. The minimum fund balance is maintained for cash flow and working capital purposes.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2024
30
Note 1 - Summary of Significant Accounting Policies (Continued)
The minimum fund balance amount is calculated as follows:
Budgeted 2025 General Fund Expenditures 55,359,021$
Minimum Fund Balance 16% 8,857,443
Maximum Fund Balance 30% 16,607,706
Fund Balance Policy
The City’s unassigned fund balance of $22,571,640 is above both the minimum and targeted maximum fund
balance amount.
Claims and Judgments
Claims and judgments are recorded as liabilities if all the conditions of Governmental Accounting Standards Board
(GASB) pronouncements are met. Claims and judgments expected to be liquidated with expendable available financial
resources are recorded during the year as expenditures in the governmental funds. If they are not expected to be
liquidated with expendable available financial resources, no liability is recognized in the governmental fund financial
statements. Claims and judgments in the government-wide financial statements and proprietary funds are recorded as
expenses when the related liabilities are incurred. There were no significant claims or judgments at the end of the year.
Use of Estimates
The preparation of financial statements in conformity with generally accepted accounting principles requires
management to make estimates and assumptions that affect the reported amounts of assets, deferred outflows of
resources, liabilities and deferred inflows of resources and disclosure of contingent assets, deferred outflows of
resources, liabilities and deferred inflows of resources at the date of the financial statements and the reported amounts
of revenues and expenditures/expenses during the reporting period. Actual results may differ from those estimates.
Prior Year Information
Comparative amounts for the prior year have been presented in the basic financial statements to provide an
understanding of changes in the City’s financial position and operations. The comparative amounts are summarized
in total and not at the level of detail required for a presentation in conformity with generally accepted accounting
principles. Accordingly, such information should be read in conjunction with the government’s financial statements
for the year ended December 31, 2023, from which the summarized information was derived.
Reclassifications
Certain amounts in the prior year financial statements have been reclassified to conform to the presentation in the
current year financial statements.
Leases
The City follows GASB Statement No. 87 which requires recognition of certain lease assets and liabilities for leases
that previously were classified as operating leases and recognized as inflows of resources or outflows of resources
based on the payment provisions of the contract. This statement establishes a single model for lease accounting
based on the foundational principle that leases are financings of the right to use an underlying asset. A lessee is
required to recognize a lease liability and an intangible right-to-use lease asset, and a lessor is required to recognize
a lease receivable and a deferred inflow of resources. The City disclosed lease receivables in note 13 of the
footnotes.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2024
31
Note 1 - Summary of Significant Accounting Policies (Continued)
Subscription-Based Information Technology Agreements
The City adopted GASB Statement No. 96 for the year ended December 31, 2024, which requires recognition in the
financial statements of certain subscription-based information technology agreements (SBITAs). A SBITA is any
contract conveying control of the right to use another party’s information technology software. This statement requires
the City to report a right-to-use subscription asset and corresponding subscription liability for any SBITAs. The City had
no material SBITAs that were required to be disclosed.
Note 2 - Cash and Investments
The City is required to invest its funds in accordance with Wisconsin Statutes. Allowable investments are as follows:
Time deposits in any credit union, bank, savings bank or trust company maturing in three year or less.
Bonds or securities of any county, city, drainage district, technical college district, village, town, or school district
of the state. Also, bonds issued by a local exposition district, local professional baseball park district, or the
University of Wisconsin Hospitals and Clinics Authority.
Bonds or securities issued or guaranteed by the federal government.
The Wisconsin Local Government Investment Pool.
Any security maturing in seven year or less and having the highest or second highest rating category of a
nationally recognized rating.
Securities of an open-end management investment company or investment trust subject to various conditions
and investment options.
Repurchase agreements with public depositories, with certain conditions.
The carrying amount of the City’s cash and investments totaled $262,522,818 on December 31, 2024 are as follows:
Petty Cash and Cash on Hand $17,135
Deposits With Financial Institutions 178,868,778
Investments 83,636,905
Reconciliation to the Financial Statements
Government-Wide Statement of Net Position:
Cash and Investments $ 145,492,661
Restricted Cash 87,040,762
Fiduciary Funds Statement of Net Position:
Custodial Funds 29,989,395
Wisconsin statutes require repurchase agreements to be fully collateralized by bonds or securities issued or guaranteed
by the federal government or its instrumentalities. The City does not have an additional custodial credit policy.
Custodial Credit Risk
Custodial credit risk for deposits is the risk that, in the event of the failure of a depository financial institution, a
government will not be able to recover its deposits or will not be able to recover collateral securities that are in the
possession of an outside party. The custodial credit risk for investments is the risk that, in the event of failure of the
counterparty (e.g., broker-dealer) to a transaction, a government will not be able to recover the value of its investment
or collateral securities that are in the possession of another party.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2024
32
Note 2 - Cash and Investments (Continued)
At December 31, 2024, the City’s deposits had a bank balance of $179,263,320. The City maintains its cash accounts
at several financial institutions. Deposits in each bank are insured by the FDIC up to $250,000 for the combined
amounts of all time and savings accounts (including NOW accounts); up to $250,000 for the combined amount of all
interest and noninterest bearing demand deposit accounts. Deposits in credit unions are insured by the NCUA up to
$250,000 for all accounts.
The following represents a summary of deposits as of December 31, 2024:
Fully Insured Deposits 88,819,577$
Collateralized 74,174,657
Uninsured and Uncollateralized 16,269,086
Total 179,263,320$
The difference between the bank balance and carrying value is due to outstanding checks and/or deposits in transit at
December 31, 2024.
Credit Risk – State law limits investments in commercial paper, corporate bonds, and mutual bond funds to the top two
ratings issued by nationally recognized statistical rating organizations. The City’s investment policy does not further limit
its investment choices.
As of December 31, 2024, the City’s credit quality ratings are as follows:
U.S. Treasury Securities $ 25,414,085 $- $ 25,414,085 $- $- $- $-
Federal Home Loan Bank 6,001,384 - 6,001,384 - - - -
Federal Home Loan Mortgage 903,500 - 903,500 - - - -
Federal National Mortgage 27,647 - 27,647 - - - -
Money market mutual funds 1,310,667 - 1,310,667 - - - -
Municipal Bonds 7,688,538 - 856,728 3,770,312 2,749,839 276,837 34,822
Mutual funds 3,453,305 - - - - - 3,453,305
Negotiable Certificate of Deposits 4,531,250 - - - - - 4,531,250
Oshkosh Community Foundation 9,781,191 - - - - - 9,781,191
Corporate stocks / bonds 726,330 - - - - - 726,330
WI Local Government Investment Pool 28,309,149 - - - - - 28,309,149
Exempt
From Not
Investment Type Amount Disclosure AAA Aa1 Aa3 RatedAa2
Concentration of Credit Risk
The City’s investment policy states that it will diversify its investments by security type and institution. With the
exception of U.S. Treasury securities and authorized pools, no more than 50% of the City’s total investment portfolio
will be invested in a single type or with a single financial institution. Investments in any one issuer that represent
5% or more of City’s total investments are as follows:
Issuer Investment Type
Reported
Amount
Percent of
Total
Investments
Federal Home Loan Bank Federal Agency Security 6,001,384$ 6.81%
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2024
33
Note 2 - Cash and Investments (Continued)
Interest Rate Risk
Interest rate risk is the risk that changes in interest rates will adversely affect the fair value of an investment.
Generally, the longer the maturity of an investment, the greater the sensitivity of its fair value to changes in market
interest rates. One of the ways that the City manages its exposure to interest rate risk is by purchasing a combination
so that a portion of the portfolio is maturing or coming close to maturity evenly over time as necessary to provide
the cash flow and liquidity needed for operations.
As of December 31, 2024, the City’s investments were as follows:
Investment Type
U.S. Treasury Securities $ 25,414,085 $ 8,684,296 $ 4,086,414 $ 8,804,625 $ 3,838,750
Federal Home Loan Bank 6,001,384 1,502,012 4,499,372 - -
Federal Home Loan Mortgage 903,500 615,435 288,065 - -
Federal National Mortgage 27,647 - 27,647 - -
Money market mutual funds 1,310,667 1,310,667 - - -
Municipal Bonds 7,688,538 911,477 605,724 6,135,658 35,679
Mutual funds 3,453,305 3,453,305 - - -
Negotiable Certificate of Deposits 4,531,250 1,834,669 904,458 1,792,123 -
Oshkosh Community Foundation 9,781,191 9,781,191 - - -
Corporate stocks / bonds 726,330 726,330 - - -
WI Local Government Investment Pool 28,309,149 28,309,149 - - -
Remaining Maturity (in Months)
12 Months 13 to 24 25 to 60 More Than
Amount or Less Months Months 60 Months
Investments with Fair Values Highly Sensitive to Interest Rate Fluctuations
The City’s investments include the following investments that are highly sensitive to interest rate fluctuations (to a
greater degree than already indicated in the information provided above):
Highly Sensitive Investments Year End
Federal National Mortgage 27,647$
Federal Home Loan Bank 6,001,384
Federal Home Loan Mortgage 903,500
Fair Value
Investments are measured at fair value on a recurring basis. Recurring fair value measurements are those that
Governmental Accounting Standards Board (GASB) Statements require in the statement of net position at the end
of each reporting period. Fair value measurements are categorized based on the valuation inputs used to measure
an asset’s fair value.
Level 1 – Valuation for assets are from quoted prices in active markets. These valuations are obtained
from readily available pricing sources for market transactions involving identical assets.
Level 2 – Valuation for assets are from less active markets. These valuations are obtained from third
party pricing services for identical or similar assets.
Level 3 – Measurements that are least observable are estimated from related market data, determined
from sources with little or no market activity for comparable contracts, or are positions with longer durations.
These valuations incorporate certain assumptions and projections in determining fair value assigned to
such assets.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2024
34
Note 2 - Cash and Investments (Continued)
U.S. Treasury Securities $ 25,414,085 $- $-
Federal Home Loan Bank - 6,001,384 -
Federal Home Loan Mortgage - 903,500 -
Federal National Mortgage - 27,647 -
Money market mutual funds 1,310,667 - -
Municipal Bonds - 7,688,538 -
Mutual funds 3,453,305 - -
Negotiable Certificate of Deposits - 4,531,250 -
Oshkosh Community Foundation - - 9,781,191
Corporate stocks / bonds - 726,330 -
Fair Value Measurement Using
Level 1 Level 2 Level 3
The Wisconsin Local Government Investment Pool (LGIP) is part of the State Investment Fund (SIF) and is managed
by the State of Wisconsin Investment Board. The SIF is not registered with the Securities and Exchange Commission
but operates under the statutory authority of Wisconsin Chapter 25. Participants in the LGIP have the right to withdraw
their funds in total on one day’s notice. Investments in the local government investment pool are not insured.
Investments in the LGIP are valued at amortized cost. The balance in the local government investment pool at
December 31, 2024 was $28,309,149.
Beneficial interest in assets held by Oshkosh Community Foundation represents amounts held by Oshkosh Community
Foundation, Inc. (the “Foundation”). These amounts are legal assets of the Foundation with the restriction that the
Foundation makes distributions to the City as needed. The agreement governing the assets includes a variance power
allowing the Foundation to modify the restrictions on distributions from the funds.
Note 3 - Restricted Assets
Restricted assets on December 31, 2024 totaled $87,040,762 and consisted of cash and investments held for the
following purposes:
Governmental Activities:
Unspent Bond Proceeds 39,168,306$
Enterprise Funds:
Water Utility
Plant Replacement 1,275,226
Bond Reserve - To make up for potential future deficiencies in net revenues 5,302,035
Depreciation Fund - To replace certain assets for water distribution 165,634
Unspent Bond Proceeds 7,960,931
Total 14,703,826
Sewer Utility
Bond Reserve - To make up for potential future deficiencies in net revenues 6,879,286
DNR Infrastructure Plant Replacement 1,370,272
Unspent Bond Proceeds 10,345,116
Total 18,594,674
Stormwater Utility
Bond Reserve - To make up for potential future deficiencies in net revenues 8,341,059
Unspent Bond Proceeds 6,232,897
Total 14,573,956
Total Restricted Assets 87,040,762$
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2024
35
Note 4 - Property Taxes
Real estate property taxes are payable in full by January 31 or in four installments on or before January 31, March 31,
May 31, and July 31. Real estate taxes not paid by July 31 are submitted to Winnebago County for final collection as
part of the August tax settlement.
All delinquent real estate and personal property taxes are subject to interest of 1% per month (fraction of a month counts
as a whole month) from February 1 until paid and may be subject to an additional penalty (sec. 74.47, Wis. Stats.). The
payment must be received by the treasurer within 5 working days of the due date.
Under 2011 Wisconsin Act 32, a municipality is allowed to increase its levy over the amount it levied in the prior year
by the percentage increase in equalized value from net new construction or zero percent. Changes in debt service from
one year to the next are generally exempt from this limit.
Note 5 - Capital Assets
Capital asset activity for the year ended December 31, 2024 was as follows:
Governmental Activities
Capital Assets not Being Depreciated
Land $ 24,240,413 $ 2,496,958 $- 26,737,371
Construction in Progress 1,058,587 765,056 1,036,503 787,140
Total Capital Assets Not
Being Depreciated 25,299,000 3,262,014 1,036,503 27,524,511
Capital Assets Being Depreciated
Buildings and Improvements 86,729,298 5,270,212 - 91,999,510
Machinery and Equipment 76,473,806 9,297,445 2,525,958 83,245,293
Infrastructure 141,440,734 12,146,600 4,618,845 148,968,489
Total Capital Assets Being
Depreciated 304,643,838 26,714,257 7,144,803 324,213,292
Accumulated Depreciation
Buildings and Improvements (28,011,413) (1,891,884) - (29,903,297)
Machinery and Equipment (44,331,095) (3,900,414) (2,525,958) (45,705,551)
Infrastructure (57,660,134) (9,194,046) (4,593,662) (62,260,518)
Total Accumulated Depreciation (130,002,642) (14,986,344) (7,119,620) (137,869,366)
Total Capital Assets Being
Depreciated, Net of Depreciation 174,641,196 11,727,913 25,183 186,343,926
Governmental Activities Capital
Assets, Net of Accumulated
Depreciation $199,940,196 14,989,927 1,061,686 213,868,437
Beginning Increases Decreases Ending
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2024
36
Note 5 - Capital Assets (Continued)
Business-Type Activities
Capital Assets not Being Depreciated
Land 15,226,133 $- $- 15,226,133
Construction in Progress 19,118,483 22,099,128 12,033,224 29,184,387
Total Capital Assets Not Being 34,344,616 22,099,128 12,033,224 44,410,520
Depreciated
Capital Assets Being Depreciated
Buildings and Improvements 27,250,927 777,016 180,572 27,847,371
Machinery and Equipment 112,889,729 3,232,379 297,244 115,824,864
Infrastructure 422,950,547 24,598,039 506,021 447,042,565
Subtotal 563,091,203 28,607,434 983,837 590,714,800
Less Accumulated Depreciation (186,599,251) (12,210,751) (938,773) (197,871,229)
Total Capital Assets Being
Depreciated, Net of Depreciation 376,491,952 16,396,683 45,064 392,843,571
Business-Type Activities Capital
Assets, Net of Accumulated
Depreciation $410,836,568 38,495,811 12,078,288 437,254,091
Beginning Increases Decreases Ending
Depreciation expense was charged to functions of the City as follows:
Governmental Activities:
General Government 549,925
Public Safety 1,028,481
Public Works 9,516,458
Culture and Recreation 1,959,089
Conservation and Development 1,932,391
Business-Type Activities:
Transit 859,028
Storm Water Utility 2,733,860
Water Utility Depreciation Charged to Accumulated Depreciation 4,233,010
Less: Share of Meter Depreciation (161,755)
Water Utility Depreciation Expense 4,071,255
Sewer Utility Depreciation Charged to Accumulated Depreciation 4,063,600
Plus: Share of Meter Depreciation 161,755
Sewer Utility Depreciation Expense 4,225,355
Parking Utility 125,793
Oshkosh Convention Center 182,192
Inspection Services 13,268
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2024
37
Note 6 - Interfund Receivables, Payables and Transfers
Interfund transfers for the year ended December 31, 2024 were as follows:
Fund Transferred To Fund Transferred From Amount
General Fund Water Utility 1,542,600$
Business Improvement District Special Events 50,000
Museum Permanent Funds 89,166
Cemetery Permanent Funds 70,020
Equipment Special Events 211,099
EMS Fire Grant General Fund 21,775
EMS Fire Grant Permanent Funds 19,153
Leach Amphitheater Permanent Funds 25,000
2,028,813$
Transfers are used to: 1) move unrestricted revenues collected in the general fund to finance various programs
accounted for in other funds in accordance with budgetary authorizations; 2) move revenues from the fund that is
required to collect them to the fund that is required or allowed to expend them; 3) move receipts restricted to or allowed
for debt service from the funds collecting the receipts to the debt service funds as debt service payments become due;
and 4) move payment in lieu of taxes from the regulated utilities to the general fund.
The following is a schedule of interfund receivables and payables:
Receivable Fund Payable Fund Amount Purpose
Governmental Activities:
TIF No. 12 TIF No. 13 224,024$
Equipment Sidewalk Construction 4,965,560
Equipment Grand Opera House 89,337
Equipment Street Tree 31,511
Cemetery Permanent Funds 70,020
Cemetery Pollock Water Park 33,942
TIF No. 25 TIF No. 23 1,372,283
TIF No. 20 TIF No. 23 2,000,000
TIF No. 20 TIF No. 26 344,913
TIF No. 20 TIF No. 44 1,000
TIF No. 35 TIF No. 27 326,865
TIF No. 35 TIF No. 40 3,048
TIF No. 35 TIF No. 41 7,573
TIF No. 35 TIF No. 42 2,691
TIF No. 35 TIF No. 43 65,374 Year End Cash Flow Timing
Library Permanent Funds 7,717
Leach Amphitheater Permanent Funds 25,000
Health Insurance Central Garage 1,735,830
Museum Public Works Special 158,126
Museum Permanent Funds 90,000 Year End Cash Flow Timing
Business-type Activities:
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2024
38
Note 7 - Long-Term Obligations
The following is a summary of changes in long-term obligations of the City for the year ended December 31, 2024:
Governmental Activities
General Obligation Debt
Bonds and Notes $ 118,918,547 $ 17,200,000 $ 13,084,313 $ 123,034,234 $ 13,414,684
Notes From Direct Borrowing 422,191 - 249,082 173,109 92,960
Total General Obligation Debt 119,340,738 17,200,000 13,333,395 123,207,343 13,507,644
Debt Premium 5,813,657 1,425,137 668,519 6,570,275 -
Compensated Absences 4,469,721 514,398 - 4,984,119 548,253
Subtotal 10,283,378 1,939,535 668,519 11,554,394 548,253
Total Governmental Activity
Long-Term Liabilities $ 129,624,116 $ 19,139,535 $ 14,001,914 $ 134,761,737 $ 14,055,897
Business-Type Activities
General Obligation Debt
Transit Utility $ 680,000 $- $ 115,000 $ 565,000 $ 115,000
Water Utility 1,360,000 - 350,000 1,010,000 220,000
Sewer Utility 2,150,000 - 620,000 1,530,000 490,000
Stormwater Utility 1,960,000 - 380,000 1,580,000 375,000
Parking Utility 25,000 - - 25,000 -
Industrial Park 150,000 - 35,000 115,000 35,000
Notes From Direct Borrowing
Oshkosh Redevelopment 867,504 - 202,695 664,809 211,923
Total General Obligation Debt 7,192,504 - 1,702,695 5,489,809 1,446,923
Revenue Bonds
Water Utility 57,260,000 5,290,000 4,110,000 58,440,000 4,080,000
Sewer Utility 80,350,000 3,975,000 4,870,000 79,455,000 5,095,000
Stormwater Utility 86,335,000 - 5,590,000 80,745,000 5,900,000
Notes from Direct Borrowing
Water Utility 2,247,883 - 428,809 1,819,074 438,950
Sewer Utility 3,820,153 - 498,799 3,321,354 294,763
Total Revenue Bonds 230,013,036 9,265,000 15,497,608 223,780,428 15,808,713
Debt Premium
Water Utility 2,964,134 407,214 232,711 3,138,637 -
Sewer Utility 3,704,540 302,445 256,826 3,750,159 -
Stormwater Utility 3,463,112 - 283,569 3,179,543 -
Total Debt Premium 10,131,786 709,659 773,106 10,068,339 -
Compensated Absences 1,027,083 118,566 - 1,145,649 229,130
Total Business Activity
Long-Term Liabilities $ 248,364,409 $ 10,093,225 $ 17,973,409 $ 240,484,225 $ 17,484,766
Balances Issued Retired Balances One Year
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2024
39
Note 7 - Long-Term Obligations (Continued)
General obligation debt currently outstanding is detailed as follows:
Refunding Bonds:
2012A 06/28/12 12/01/13 - 27 06/01 - 12/01 0.40 - 3.00% 5,595,000 $ 430,000
2016C 07/06/16 12/01/17 - 34 06/01 - 12/01 2.25 - 3.00% 9,850,000 6,890,000
2016H 10/06/16 12/01/17 - 30 06/01 - 12/01 3.00 - 4.00 % 6,890,000 3,385,000
2021F 11/28/21 12/01/22 - 31 06/01 - 12/01 2.00 - 5.00% 6,320,000 4,535,000
Corporate Purpose Bonds:
2013B 12/04/13 12/01/14 -33 06/01 - 12/01 2.00 - 4.00% 9,080,000 4,760,000
2014B 11/05/14 12/01/15 -33 06/01 - 12/01 2.00 - 3.00% 14,455,000 3,835,000
2015A 07/15/15 12/01/16 - 34 06/01 - 12/01 2.00 - 4.00% 18,750,000 6,165,000
2016A 06/14/16 12/01/17 - 35 06/01 - 12/01 2.00 - 4.00% 7,950,000 2,890,000
2017A 07/06/17 12/01/18 - 36 06/01 - 12/01 3.00 - 4.00% 5,440,000 3,175,000
2018A 06/28/18 12/01/18 - 37 06/01 - 12/01 3.00 - 3.50% 5,545,000 3,945,000
2019A 06/27/19 12/01/20 - 38 06/01 - 12/01 2.75 - 4.00% 5,380,000 3,660,000
2020A 07/01/20 06/01/21 - 40 06/01 - 12/01 2.00 - 3.00% 10,425,000 7,195,000
2021A 06/30/21 06/01/22 - 41 06/01 - 12/01 2.00 - 3.00% 8,660,000 7,205,000
2022A 07/07/22 06/01/23 - 42 06/01 - 12/01 4.25 - 5.00% 21,360,000 19,780,000
2023A 06/20/23 06/01/24 - 43 06/01 - 12/01 4.00 - 5.00% 6,325,000 6,245,000
Promissory Notes:
STFL 05 05/31/05 03/15/07 - 25 03/15 5.00%200,000 15,145
STFL 16 07/19/16 03/15/17 - 26 03/15 3.00%711,300 157,964
2016B 09/14/16 12/01/17 - 25 06/01 - 12/01 2.00 - 4.00% 4,700,000 560,000
2017B 07/06/17 12/01/18 - 26 06/01 - 12/01 2.00 - 4.00% 5,830,000 1,390,000
STFL CONV CENTER 08/21/17 03/15/18 - 27 03/15 4.50%1,500,000 664,809
2018B 06/28/18 12/01/19 - 27 06/01 - 12/01 3.00 - 4.00% 5,895,000 2,100,000
2018SBA 11/01/18 11/01/18 - 32 11/01 4.00%140,000 89,234
2019B 06/27/19 12/01/19 - 28 06/01 - 12/01 3.00 - 4.00% 15,820,000 7,105,000
2020B 07/01/20 06/01/21 - 30 06/01 - 12/01 2.00 - 3.00% 7,290,000 4,415,000
2021B 06/30/21 06/01/22 - 31 06/01 - 12/01 2.00 - 3.00% 5,500,000 3,400,000
2022B 07/07/22 06/01/23 - 32 06/01 - 12/01 3.00 - 5.00% 9,050,000 7,505,000
2024A 12/18/24 06/01/25 - 44 06/01 - 12/01 4.00 - 5.00% 17,200,000 17,200,000
Total Outstanding General Obligation Debt $ 128,697,152
12/31/2024
Dates of Principal Interest Interest Original Balances
Issuance Payable Payable Rates Indebtedness
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2024
40
Note 7 - Long-Term Obligations (Continued)
The annual principal and interest maturities are as follows:
2025 $ 13,414,684 $ 4,225,353 $ 92,960 $ 5,496 $ 13,507,644 $ 4,230,849
2026 12,195,072 3,855,832 80,149 2,404 12,275,221 3,858,236
2027 11,510,475 3,458,007 - - 11,510,475 3,458,007
2028 10,585,894 3,071,476 - - 10,585,894 3,071,476
2029 9,201,329 2,701,806 - - 9,201,329 2,701,806
2030 - 2034 36,286,780 9,008,300 - - 36,286,780 9,008,300
2035 - 2039 17,700,000 4,053,509 - - 17,700,000 4,053,509
2040 - 2044 12,140,000 959,494 - - 12,140,000 959,494
Governmental Activities
General Obligation Debt Notes From Direct Borrowings Totals
Principal Interest Principal Interest Principal Interest
2025 $ 1,235,000 $ 139,307 $ 211,923 $ 29,916 $ 1,446,923 $ 169,223
2026 1,125,004 104,552 221,456 20,384 1,346,460 124,936
2027 759,996 68,504 231,430 10,410 991,426 78,914
2028 720,000 46,541 - - 720,000 46,541
2029 150,000 25,669 - - 150,000 25,669
2030 - 2034 835,000 63,140 - - 835,000 63,140
Business Type Activities
General Obligation Debt Notes From Direct Borrowings Totals
Principal Interest Principal Interest Principal Interest
2025 $ 15,075,000 $ 7,462,534 $ 733,713 $ 121,147 $ 15,808,713 $ 7,583,681
2026 15,440,000 6,714,637 751,832 102,804 16,191,832 6,817,441
2027 15,200,000 6,302,245 770,399 84,007 15,970,399 6,386,252
2028 15,510,000 5,766,936 789,427 59,177 16,299,427 5,826,113
2029 14,764,076 5,089,732 1,722,878 164,256 16,486,954 5,253,988
2030 - 2034 74,945,924 17,952,619 372,179 4,885 75,318,103 17,957,504
2035 - 2039 49,580,000 7,303,329 - - 49,580,000 7,303,329
2040 - 2044 18,125,000 1,399,119 - - 18,125,000 1,399,119
$ 218,640,000 $ 57,991,151 $ 5,140,428 $ 536,276 $ 223,780,428 $ 58,527,427
Business Type Activities
Revenue Bonded Debt Notes From Direct Borrowing Totals
Principal Interest Principal Interest Principal Interest
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2024
41
Note 7 - Long-Term Obligations (Continued)
Revenue bond debt currently outstanding is detailed as follows:
Water Utility
Safe Drinking Revenue Bond 4874-02 2008 05/01/10 - 28 5/1/ & 11/1 2.75% $ 1,344,824 $ 1,819,074
Revenue Bond 2013E 2013 01/01/15 - 33 1/1 & 7/1 2.25 - 3.125% 3,785,000 1,435,000
Revenue Bond 2014E 2014 01/01/16 - 34 1/1 & 7/1 2.00 - 4.125% 3,795,000 1,315,000
Revenue Bond 2015E 2015 01/01/16 - 35 1/1 & 7/1 2.00 - 4.00% 6,660,000 4,235,000
Revenue Bond 2016F 2016 01/01/17 - 36 1/1 & 7/1 3.00 - 4.00% 6,835,000 4,475,000
Safe Drinking Revenue Bond 2016G 2016 01/01/17 - 37 1/1 & 7/1 2.00 - 3.00% 11,690,000 3,595,000
Revenue Bond 2017C 2017 01/01/18 - 38 1/1 & 7/1 2.00 - 4.00% 8,880,000 6,005,000
Revenue Bond 2019D 2019 01/01/20 - 39 1/1 & 7/1 3.00 - 5.00% 8,220,000 5,675,000
Revenue Bond 2020D 2020 01/01/21 - 40 1/1 & 7/1 2.00 - 4.00% 5,525,000 4,690,000
Revenue Bond 2021D 2021 01/01/22 - 41 1/1 & 7/1 2.00 - 3.00% 5,605,000 4,950,000
Refunding Revenue Bond 2021G 2021 01/01/23 - 32 1/1 & 7/1 3.00% 2,755,000 2,270,000
Revenue Bond 2022D 2022 01/01/23 - 42 1/1 & 7/1 3.25 - 5.00% 8,315,000 7,770,000
Revenue Bond 2023C 2023 01/01/24 - 43 1/1 & 7/1 4.00 - 5.00% 6,935,000 6,735,000
Revenue Bond 2024B 2024 07/01/25 - 44 7/1 & 1/1 4.00 - 5.00% 5,290,000 5,290,000
Sewer Utility
Revenue Bond 2012E 2012 05/01/13 - 32 5/1 & 11/1 2.25 - 3.00% 6,270,000 2,545,000
Revenue Bond 2013D 2013 01/01/14 - 33 5/1 & 11/1 2.00 - 4.125% 4,175,000 1,960,000
Clean Water Revenue Bond 4130-14 2014 05/01/15 - 34 5/1 & 11/1 2.625% 5,706,185 3,321,354
Revenue Bond 2014D 2014 05/01/15 - 34 5/1 & 11/1 2.00 - 4.00% 5,980,000 2,960,000
Revenue Bond 2015D 2015 05/01/16 - 35 5/1 & 11/1 2.00 - 4.00% 6,695,000 3,910,000
Revenue Bond 2016D 2016 05/01/17 - 36 5/1 & 11/1 2.00 - 3.00% 10,045,000 6,050,000
Revenue Bond 2017D 2017 05/01/18 - 37 5/1 & 11/1 3.00 - 5.00% 15,075,000 10,945,000
Revenue Bond 2019E 2019 05/01/20 - 39 5/1 & 11/1 2.00 - 4.00% 13,990,000 9,235,000
Revenue Bond 2020E 2020 05/01/21 - 40 5/1 & 11/1 2.00 - 4.00% 13,930,000 11,885,000
Revenue Bond 2021E 2021 05/01/22 - 41 5/1 & 11/1 2.00 - 4.00% 13,940,000 12,480,000
Revenue Bond 2022E 2022 05/01/23 - 42 5/1 & 11/1 3.25 - 5.00% 14,270,000 13,510,000
Revenue Bond 2024C 2024 05/01/25 - 44 5/1 & 11/1 4.00 - 5.00% 3,975,000 3,975,000
Stormwater Utility
Revenue Bond 2012D 2012 05/01/13 - 32 5/1 & 11/1 3.00 - 3.12% 6,810,000 3,190,000
Revenue Bond 2013A 2013 01/01/14 - 33 5/1 & 11/1 3.00 - 4.125% 15,220,000 8,225,000
Revenue Bond 2014A 2014 05/01/15 - 34 5/1 & 11/1 2.00 - 4.00% 8,300,000 4,880,000
Revenue Bond 2015C 2015 05/01/16 - 35 5/1 & 11/1 3.00 - 4.00% 13,115,000 7,125,000
Revenue Bond 2016E 2016 05/01/17 - 36 5/1 & 11/1 3.00 - 4.00% 5,175,000 3,420,000
Refunding Revenue Bond 2016I 2016 05/01/17 - 30 5/1 & 11/1 2.00 - 4.00% 15,295,000 7,790,000
Revenue Bond 2017E 2017 05/01/18 - 37 5/1 & 11/1 3.00 - 5.00% 9,720,000 7,275,000
Revenue Bond 2018C 2018 05/01/19 - 38 5/1 & 11/1 4.00 - 5.00% 10,060,000 8,010,000
Revenue Bond 2019C 2019 05/01/20 - 39 5/1 & 11/1 3.00 - 5.00% 8,060,000 6,760,000
Revenue Bond 2020C 2020 05/01/21 - 40 5/1 & 11/1 2.00 - 4.00% 4,770,000 4,095,000
Revenue Bond 2021C 2021 05/01/22 - 41 5/1 & 11/1 2.00 - 4.00% 7,160,000 6,415,000
Revenue Bond 2022C 2022 05/01/23 - 42 5/1 & 11/1 4.00 - 5.00% 8,405,000 7,990,000
Revenue Bond 2023B 2023 05/01/24 - 43 5/1 & 11/1 4.00 - 5.00% 5,650,000 5,570,000
Total Outstanding Revenue Bonds $ 223,780,428
12/31/2024Numbers Issue Payable Payables Rates Indebtedness
Issue Years of Principal Interest Interest Original Balances
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2024
42
Note 7 - Long-Term Obligations (Continued)
Interest paid on long-term debt during 2024 was $11,382,016.
The City’s outstanding notes from direct borrowings and direct placements of $5,978,346 contain a provision that in an
event of default, outstanding amounts become immediately due if the City is unable to make a payment.
Legal Margin For Debt
The 2024 equalized valuation of the City as certified by the Wisconsin Department of Revenue is $6,326,396,700. The
legal debt limit and margin of indebtedness as of December 31, 2024, in accordance with Section 67.03 of the Wisconsin
Statutes follows:
Legal Margin For Debt
Equalized Valuation of the City $ 6,326,396,700
Statutory Limitation Percentage 5%
General Obligation Debt Limitation, per Section 67.03 of the Wisconsin Statutes 316,319,835
Total Outstanding General Obligation Debt Applicable
to Debt Limitation $ 128,697,152
Less: Amounts Available for Repayment of General
Obligation Debt - Debt Service Fund 1,028,359
Net Outstanding General Obligation Debt Applicable to Debt Service Fund 127,668,793
Legal Margin for New Debt $ 188,651,042
Utility Revenues Pledged
The Utility has pledged future revenue derived from the Water, Sewer and Stormwater Utilities, net of specified operating
expenses, to repay the Clean Water Fund Loans, Safe Drinking Water Loans, and Revenue Bonds. Proceeds from the
debt provided financing for the construction or acquisition of capital assets used within the utilities.
The Safe Drinking Water Loans and Revenues Bonds are payable from Water System net revenues and are payable
through 2044. The total principal remaining to be paid on the loans is $60,259,074. Principal and interest paid for the
current year and total water system net revenues were $6,001,599 and $11,647,033, respectively. The Water System
did meet the Safe Drinking Water Loans and Revenue Bonds revenue requirements in 2024.
The Clean Water Fund Loans and Revenue Bonds are payable from Sewer System net revenues and payable through
2044. The total principal remaining to be paid on the loans is $82,776,354. Principal and interest paid for the current
year and total Sewerage System net revenues were $7,401,220 and $13,215,256, respectively. The Sewer System did
meet the Clean Water Fund Loans and Revenue Bonds revenue requirements in 2024.
The Revenue Bonds are payable from Stormwater System net revenues and payable through 2043. The total principal
remaining to be paid on the loans is $80,745,000. Principal and interest paid for the current year and total Stormwater
System net revenues were $8,609,281 and $12,812,931, respectively. The Stormwater System did meet the Revenue
Bonds revenue requirements in 2024.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2024
43
Note 8 - Fund Equity
Fund Financial Statements
At December 31, 2024 the assigned and restricted fund balances are as follows:
Nonspendable
Inventory and Prepaid Items
General Fund 426,328$
Special Assessment Improvement 310
Special Revenues
Senior Services 5,582
Business Improvement District 6,066
Recycling 10,861
Museum 4,961
Cemetery 857
Police Special 5,713
Fire Special 1,736
Park Revenue Facilities 2,847
Public Works Special 310
Garbage Collection and Disposal 9,973
Pollock Water Park 1,662
Special Events 27,434
Total Inventory and Prepaid Items 504,640
Permanent Funds 6,160,474
Restricted
Special Revenues
Senior Services 20,283$
Business Improvement District 166,113
Community Development 4,532,260
Community Development Loans 2,363,773
Police Special 479,719
Fire Special 327,635
Capital Projects
Tax Incremental District Development 15,560,382
Debt Service 2,361,305
25,811,470
Permanent Funds 9,699,044
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2024
44
Note 8 - Fund Equity (Continued)
Committed
Special Revenue and Capital Projects Funds:
Recycling Program 3,204,040$
Street Lighting 296,859
Library 51,403
Museum 1,718,867
Cemetery 395,147
Senior Services Revolving Loans 204,582
Park Revenue Facilities 750,144
Leach Amphitheater 114,335
Healthy Neighborhoods 2,470,269
Rental Inspections 45,770
Assigned
Equipment 12,300,852$
Special Assessment Improvement 18,786,187
Special Revenue and Capital Projects Funds:
Special Events 1,027,595
Street Improvement 11,341,010
Contract Control 3,783,269
Park Improvement and Acquisition 1,121,353
Park Subdivision Improvement 434,209
Mct Rochlin Park Smokestack 2,000
Senior Center 129,408
Special Assessments Replacement 3,028,649
Parking Ramp Improvements 469,879
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2024
45
Note 8 - Fund Equity (Continued)
Government-Wide Financial Statements
At December 31, 2024 net position was as follows:
Net Investment in Capital Assets
Net Capital Assets $ 213,868,437 $ 437,254,091 $ 651,122,528
Less: Related Long-Term Debt (123,207,343) (229,155,237) (352,362,580)
Less: Premium on Capital Debt (6,570,275) (10,068,339) (16,638,614)
Less: Capital Accounts Payable (9,558,539) - (9,558,539)
Add: Deferred Charge on Refunding - 38,759 38,759
Add: Unspent Bond Proceeds 39,168,306 24,538,944 63,707,250
Total Net Investment in Capital Assets 113,700,586 222,608,218 336,308,804
Restricted
Community Development Loans 2,363,773 - 2,363,773
Community Development 4,532,260 - 4,532,260
Business Improvement District 166,113 - 166,113
Permanent Funds 15,859,518 - 15,859,518
Police Special 479,719 - 479,719
Fire Special 327,635 - 327,635
Senior Services 20,283 - 20,283
Debt Service 1,028,359 20,522,380 21,550,739
Plant Replacement - 2,811,132 2,811,132
Pension Benefits 12,043,666 1,581,638 13,625,304
Total Restricted 36,821,326 24,915,150 61,736,476
Unrestricted 53,733,151 49,711,529 103,444,680
Total Government-Wide Activities Net Position $ 204,255,063 $ 297,234,897 $ 501,489,960
Governmental Business-Type
Activities Activities Total
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2024
46
Note 9 - Individual Fund Balance Disclosures
The following governmental funds have a deficit fund balance as of December 31, 2024:
Governmental Funds:
TIF No. 27 North Main Street Industrial Park 494,679$
Internal Service Fund:
These deficit fund balances will be corrected with subsequent years’ revenues.
Note 10 - Defined Benefit Pension Plan
General Information About the Pension Plan
Plan Description. The WRS is a cost-sharing multiple-employer defined benefit pension plan. WRS benefits and other
plan provisions are established by Chapter 40 of the Wisconsin Statutes. Benefit terms may only be modified by the
legislature. The retirement system is administered by the Wisconsin Department of Employee Trust Funds (ETF). The
system provides coverage to all eligible State of Wisconsin, local government, and other public employees. All
employees, initially employed by a participating WRS employer on or after July 1, 2011, expected to work at least 1,200
hours a year (880 hours for teachers and school district educational support employees) and expected to be employed
for at least one year from employee’s date of hire are eligible to participate in the WRS.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2024
47
Note 10 - Defined Benefit Pension Plan (Continued)
ETF issues a standalone Annual Comprehensive Financial Report (ACFR), which can be found at https://
etf.wi.gov/about-etf/reports-and-studies/financial-reports-and-statements.
Additionally, ETF issued a standalone Wisconsin Retirement System Financial Report, which can also be found using
the link above.
Vesting. For employees beginning participation on or after January 1, 1990, and no longer actively employed on or
after April 24, 1998, creditable service in each of five years is required for eligibility for a retirement annuity. Participants
employed prior to 1990 and on or after April 24, 1998, and prior to July 1, 2011, are immediately vested. Participants
who initially became WRS eligible on or after July 1, 2011, must have five years of creditable service to be vested.
Benefits Provided. Employees who retire at or after age 65 (54 for protective occupations and 62 for elected officials
and executive service retirement plan participants, if hired on or before December 31, 2016) are entitled to a retirement
benefit based on a formula factor, their final average earnings, and creditable service.
Final average earnings is the average of the participant's three highest annual earnings periods. Creditable service
includes current service and prior service for which a participant received earnings and made contributions as required.
Creditable service also includes creditable military service. The retirement benefit will be calculated as a money
purchase benefit based on the employee’s contributions plus matching employer's contributions, with interest, if that
benefit is higher than the formula benefit.
Vested participants may retire at or after age 55 (50 for protective occupations) and receive an actuarially reduced
benefit. Participants terminating covered employment prior to eligibility for an annuity may either receive employee-
required contributions plus interest as a separation benefit or leave contributions on deposit and defer application until
eligible to receive a retirement benefit.
The WRS also provides death and disability benefits for employees.
Post-Retirement Adjustments. The Employee Trust Funds Board may periodically adjust annuity payments from the
retirement system based on annual investment performance in accordance with s. 40.27, Wis. Stat. An increase (or
decrease) in annuity payments may result when investment gains (losses), together with other actuarial experience
factors, create a surplus (shortfall) in the reserves, as determined by the system’s consulting actuary. Annuity increases
are not based on cost of living or other similar factors. For Core annuities, decreases may be applied only to previously
granted increases. By law, Core annuities cannot be reduced to an amount below the original, guaranteed amount (the
“floor”) set at retirement. The Core and Variable annuity adjustments granted during recent years are as follows:
Year Core Fund Adjustment Variable Fund Adjustment
2014 4.7% 25.0%
2015 2.9 2.0
2016 0.5 (5.0)
2017 2.0 4.0
2018 2.4 17.0
2019 0.0 (10.0)
2020 1.7 21.0
2021 5.1 13.0
2022 7.4 15.0
2023 1.6 (21.0)
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2024
48
Note 10 - Defined Benefit Pension Plan (Continued)
Contributions. Required contributions are determined by an annual actuarial valuation in accordance with Chapter 40
of the Wisconsin Statutes. The employee required contribution is one-half of the actuarially determined contribution rate
for General category employees, including Teachers, Executives and Elected Officials. Starting on January 1, 2016,
the Executives and Elected Officials category was merged into the General Employee Category. Required contributions
for protective employees are the same rate as general employees. Employers are required to contribute the remainder
of the actuarially determined contribution rate. The employer may not pay the employee required contribution unless
provided for by an existing collective bargaining agreement.
During the reporting period, the WRS recognized $5,148,872 in contributions from the City.
Contribution rates as of December 31, 2024 are:
Employee Category Employee Employer
General (including teachers,
executives, and elected officials)
6.90% 6.90%
Protective with Social Security 6.90% 14.30%
Protective without Social Security 6.90% 19.10%
Pension Liabilities (Assets), Pension Expense (Revenue), and Deferred Outflows of Resources and
Deferred Inflows of Resources Related to Pensions
At December 31, 2024, the City reported a liability of $5,340,388 for its proportionate share of the net pension
liability. The net pension liability was measured as of December 31, 2023 and the total pension liability used to
calculate the net pension liability was determined by an actuarial valuation as of December 31, 2022, rolled forward
to December 31, 2023. No material changes in assumptions or benefit terms occurred between the actuarial
valuation date and the measurement date. The City’s proportion of the net pension liability was based on the City’s
share of contributions to the pension plan relative to the contributions of all participating employers. At December
31, 2023, the City’s proportion was 0.35918530%, which was an increase of 0.00482275% from its proportion
measured as of December 31, 2022.
For the year ended December 31, 2024, the City recognized pension expense of $3,646,190.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2024
49
Note 10 - Defined Benefit Pension Plan (Continued)
At December 31, 2024, the City reported deferred outflows of resources and deferred inflows of resources related
to pension from the following sources:
Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
Differences between projected and
actual experiences 21,532,393$ 28,519,787$
Changes in assumptions 2,327,722 -
Net differences between projected
and actual earnings on pension plan
investments 18,610,387 -
Changes in proportion and
differences between employer
of contributions 7,588 141,483
Employer contributions subsequent
to the measurement date 5,148,872 -
Total 47,626,962$ 28,661,270$
The $5,148,872 reported as deferred outflows related to pension resulting from the WRS Employer’s contributions
subsequent to the measurement date will be recognized as an adjustment of the net pension liability (asset) in the
year ending December 31, 2025. Other amounts reported as deferred outflows of resources and deferred inflows
of resources related to pension will be recognized in pension expense as follows:
Year Ending
December 31,
Net Deferred
Outflows
(Inflows) of
Resources
2025 2,813,282$
2026 2,947,565
2027 11,646,575
2028 (3,590,602)
13,816,820$
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2024
50
Note 10 - Defined Benefit Pension Plan (Continued)
Actuarial Assumptions. The total pension liability in the December 31, 2022 actuarial valuation was determined using
the following actuarial assumptions, applied to all periods included in the measurement:
Actuarial Valuation Date: December 31, 2022
Measurement Date of Net Pension Liability (Asset): December 31, 2023
Experience Study: January 1, 2018 – December 31, 2020
Published November 19, 2021
Actuarial Cost Method: Entry Age Normal
Asset Valuation Method: Fair Value
Long-Term Expected Rate of Return: 6.8%
Discount Rate: 6.8%
Salary Increases:
Inflation
Seniority/Merit
3.0%
0.1% - 5.6%
Mortality: 2020 WRS Experience Mortality Table
Post-retirement Adjustments* 1.7%
*No post-retirement adjustment is guaranteed. Actual adjustments are based on recognized investment return, actuarial experience, and other factors.
1.7% is the assumed annual adjustment based on the investment return assumption and the postretirement discount rate.
Actuarial assumptions are based upon an experience study conducted in 2021 that covered a three-year period from
January 1, 2018 to December 31, 2020. The total pension liability for December 31, 2023 is based upon a roll-forward
of the liability calculated from the December 31, 2022 actuarial valuation.
Long-term Expected Return on Plan Assets. The long-term expected rate of return on pension plan investments was
determined using a building-block method in which best-estimate ranges of expected future real rates of return
(expected returns, net of pension plan investment expense and inflation) are developed for each major asset class.
These ranges are combined to produce the long-term expected rate of return by weighting the expected future real
rates of return by the target asset allocation percentage and by adding expected inflation. The target allocation and best
estimates of geometric real rates of return for each major asset class are summarized in the following table:
Asset Allocation Targets and Expected Returns1
Core Fund Asset Class
Asset
Allocation %
Long-Term
Expected
Nominal Rate
of Return %
Long-Term
Expected
Real Rate of
Return %2
Public Equity 40% 7.3% 4.5%
Public Fixed Income 27 5.8 3.0
Inflation Sensitive 19 4.4 1.7
Real Estate 8 5.8 3.0
Private Equity/Debt 18 9.6 6.7
Leverage3 (12) 3.7 1.0
Total Core Fund 100% * 7.4% 4.6%
Variable Fund Asset Class
U.S. Equities 70% 6.8% 4.0%
International Equities 30 7.6 4.8
Total Variable Fund 100% 7.3% 4.5%
1Asset Allocations are managed within established ranges; target percentages may differ from actual monthly allocations
2New England Pension Consultants Long Term US CPI (Inflation) Forecast: 2.5%.
3The investment policy used for the Core Fund involves reducing equity exposure by leveraging lower-volatility assets, such as fixed income securities.
This results in an asset allocation beyond 100%. Currently, an asset allocation target of 12% policy leverage is used, subject to an allowable range of
up to 20%.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2024
51
Note 10 - Defined Benefit Pension Plan (Continued)
Single Discount Rate. A single discount rate of 6.8% was used to measure the total pension liability for the current
and prior year. The discount rate is based on the expected rate of return on pension plan investments of 6.8% and a
municipal bond rate of 3.77% (Source: Fixed-income municipal bonds with 20 years to maturity that include only
federally tax-exempt municipal bonds as reported in Fidelity Index’s “20-year Municipal GO AA Index” as of
December 31, 2023. In describing this index, Fidelity notes that the municipal curves are constructed using option-
adjusted analytics of a diverse population of over 10,000 tax-exempt securities.). Because of the unique structure of
WRS, the 6.8% expected rate of return implies that a dividend of approximately 1.7% will always be paid. For purposes
of the single discount rate, it was assumed that the dividend would always be paid. The projection of cash flows used
to determine this single discount rate assumed that plan member contributions will be made at the current contribution
rate and that employer contributions will be made at rates equal to the difference between actuarially determined
contribution rates and the member rate. Based on these assumptions, the pension plan’s fiduciary net position was
projected to be available to make all projected future benefit payments (including expected dividends) of current plan
members. Therefore, the municipal bond rate of return on pension plan investments was applied to all periods of
projected benefit payments to determine the total pension liability.
Sensitivity of the City’s Proportionate Share of the Net Pension Liability (Asset) to Changes in the Discount
Rate. The following presents the City’s proportionate share of the net pension liability (asset) calculated using the
discount rate of 6.80 percent, as well as what the City’s proportionate share of the net pension liability (asset) would
be if it were calculated using a discount rate that is 1-percentage-point lower (5.80 percent) or 1-percentage-point
higher (7.80 percent) than the current rate:
1% Decrease to
Discount Rate
(5.80%)
Current
Discount Rate
(6.80%)
Discount Rate
(7.80%)
City's proportionate share of the net
pension liability (asset)51,617,435$ 5,340,388$ (27,041,618)$
Pension Plan Fiduciary Net Position. Detailed information about the pension plan’s fiduciary net position is available
in separately issued financial statements available at https://etf.wi.gov/about-etf/reports-and-studies/financial-reports-
and-statements.
Payables to the Pension Plan. The City is required to remit the monthly required contribution for both the
employee and City portions by the last day of the following month. The amount due to WRS as of December 31,
2024, is $693,634 for December payroll.
Note 11 - Post-Employment Benefits Other Than Pension Benefits
The City reports OPEB related balances at December 31, 2024 as summarized below:
Local Retiree Life Insurance Fund (LRIF) $ 3,621,248 $ 1,438,684 $ 1,759,017
Single-Employer Defined OPEB Plan 6,569,154 4,407,915 5,438,076
$ 10,190,402 $ 5,846,599 $ 7,197,093
OPEB Deferred Outflows Deferred Inflows
Liability of Resources of Resources
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2024
52
Note 11 - Post-Employment Benefits Other Than Pension Benefits (Continued)
1. Local Retiree Life Insurance Fund Defined Postemployment Benefit Plan
General Information About the Other Post-Employment Benefits Plan
Plan Description. The LRLIF is a multiple-employer, defined-benefit OPEB plan. LRLIF benefits and other plan
provisions are established by Chapter 40 of the Wisconsin Statutes. The Wisconsin Department of Employee Trust
Funds (ETF) and the Group Insurance Board have statutory authority for program administration and oversight. The
plan provides post-employment life insurance benefits for all eligible members.
OPEB Plan Fiduciary Net Position. ETF issues a standalone Annual Comprehensive Financial Report (ACFR), which
can be found at https://etf.wi.gov/about-etf/reports-and-studies/financial-reports-and-statements.
Additionally, ETF issued a standalone Retiree Life Insurance Financial Report, which can also be found using the link
above.
Benefits Provided. The LRLIF plan provides fully paid up life insurance benefits for post-age 64 retired members and
pre-65 retirees who pay for their coverage.
Contributions. The Group Insurance Board approves contribution rates annually, based on recommendations from
the insurance carrier. Recommended rates are based on an annual valuation, taking into consideration an estimate of
the present value of future benefits and the present value of future contributions. A portion of employer contributions
made during a member’s working lifetime funds a post-retirement benefit.
Employers are required to pay the following contributions based on member contributions for active members to provide
them with Basic Coverage after age 65. There are no employer contributions required for pre-age 65 annuitant
coverage. If a member retires prior to age 65, they must continue paying the member premiums until age 65 in order to
be eligible for the benefit after age 65.
Contribution rates as of December 31, 2024 are:
Coverage Type Employee
50% Post Retirement Coverage 40% of Member Contribution
25% Post Retirement Coverage 20% of Member Contribution
Member contributions are based upon nine age bands through age 69 and an additional eight age bands for those age
70 and over. Participating members must pay monthly contribution rates per $1,000 of coverage until the age of 65 (age
70 if active). The member contribution rates in effect for the year ended December 31, 2023 are as listed below:
Life Insurance
Member Contribution Rates *
Under 30 $ 0.05
30-34 0.06
35-39 0.07
40-44 0.08
45-49 0.12
50-54 0.22
55-59 0.39
60-64 0.49
65-69 0.57
* Disabled members under age 70 receive a waiver-of-premium
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2024
53
Note 11 - Post-Employment Benefits Other Than Pension Benefits (Continued)
During the reporting period, the Plan recognized $16,432 in contributions from the employer.
OPEB Liabilities, OPEB Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources
Related to OPEBs
At December 31, 2024, the City reported a liability of $3,621,248 for its proportionate share of the net OPEB liability.
The net OPEB liability was measured as of December 31, 2023, and the total OPEB liability used to calculate the
net OPEB liability was determined by an actuarial valuation as of December 31, 2022 rolled forward to December
31, 2023. No material changes in assumptions or benefit terms occurred between the actuarial valuation date and
the measurement date. The City’s proportion of the net OPEB liability was based on the City’s share of contributions
to the OPEB plan relative to the contributions of all participating employers. At December 31, 2023, the City’s
proportion was 0.78711600%, which was an increase of 0.029581000% from its proportion measured as of
December 31, 2022.
For the year ended December 31, 2024, the City recognized OPEB expense of $324,516.
At December 31, 2024, the City reported deferred outflows of resources and deferred inflows of resources related
to OPEB from the following sources:
Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
Differences between projected and
actual experiences -$ 320,489$
Changes in assumptions 1,132,757 1,425,970
and actual earnings on plan
investments 48,922 -
Changes in proportion and
differences between employer
contributions and proportionate
share of contributions 240,573 12,558
Employer contributions subsequent
to the measurement date 16,432 -
Total 1,438,684$ 1,759,017$
The $16,432 reported as deferred outflows related to OPEB resulting from the WRS Employer’s contributions
subsequent to the measurement date will be recognized as an adjustment of the net OPEB liability in the year
ending December 31, 2025.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2024
54
Note 11 - Post-Employment Benefits Other Than Pension Benefits (Continued)
Other amounts reported as deferred outflows of resources and deferred inflows of resources related to OPEB will
be recognized in OPEB expense as follows:
Year Ending
December 31,
Net Deferred
Outflows
(Inflows) of
Resources
2025 15,302$
2026 62,653
2027 (76,700)
2028 (204,352)
2029 (193,865)
Thereafter 60,197
(336,765)$
Actuarial Assumptions. The total OPEB liability in the January 1, 2023, actuarial valuation was determined using the
following actuarial assumptions, applied to all periods included in the measurement:
Actuarial Valuation Date: January 1, 2023
Measurement Date of Net OPEB Liability: December 31, 2023
Experience Study: January 1, 2018 - December 31, 2020, Published
November 19, 2021
Actuarial Cost Method: Entry Age Normal
20 Year Tax-Exempt Municipal Bond Yield*: 3.26%
Long-Term Expected Rate of Return: 4.25%
Discount Rate: 3.32%
Salary Increases:
Wage Inflation
Seniority/Merit
3.00%
0.1% - 5.6%
Mortality: 2020 WRS Experience Mortality Table
*Based on the Bond Buyers GO index.
Actuarial assumptions are based upon an experience study conducted in 2021 that covered a three-year period from
January 1, 2018 to December 31, 2020. The total OPEB liability for December 31, 2023 is based upon a roll-forward
of the liability calculated from the January 1, 2023 actuarial valuation.
Long-term Expected Return on Plan Assets. The long-term expected rate of return is determined by adding expected
inflation to expected long-term real returns and reflecting expected volatility and correlation. Investments for the LRLIF
are held with Securian, the insurance carrier. Interest is calculated and credited to the LRLIF based on the rate of
return for a segment of the insurance carriers’ general fund, specifically 10-year A-Bonds (as a proxy, and not tied
to any specific investments). The overall aggregate interest rate is calculated using a tiered approach based on the
year the funds were originally invested and the rate of return for that year. Investment interest is credited based on
the aggregate rate of return and assets are not adjusted to fair market value. Furthermore, the insurance
carrier guarantees the principal amounts of the reserves, including all interest previously credited thereto.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2024
55
Note 11 - Post-Employment Benefits Other Than Pension Benefits (Continued)
Local OPEB Life Insurance
Asset Allocation Targets and Expected Returns
Asset Class
Index
Target
Allocation
Long-Term
Expected
Geometric
Real Rate of
Return %
U.S. Intermediate Credit Bonds Bloomberg U.S. Interm
Credit
40% 2.32%
U.S. Mortgages Bloomberg U.S. MBS 60 2.52
Inflation 2.30
Long-Term Expected Rate of Return 4.25
Single Discount Rate. A single discount rate of 3.32% was used to measure the total OPEB liability for the current
year, as opposed to a discount rate of 3.76% for the prior year. The change in the discount rate was primarily caused
by the decrease in the municipal bond rate from 3.72% as of December 31, 2022 to 3.26% as of December 31, 2023.
The Plan’s fiduciary net position was projected to be insufficient to make all projected future benefit payments of current
active and inactive members. Therefore, the discount rate for calculating the Total OPEB Liability is equal to the single
equivalent rate that results in the same actuarial present value as the long-term expected rate of return applied to benefit
payments, to the extent that the plan’s fiduciary net position is projected to be sufficient to make projected benefit
payments, and the municipal bond rate applied to benefit payment to the extent that the plan’s fiduciary net position is
projected to be insufficient. The plan’s fiduciary net position was projected to be available to make projected future
benefit payments of current plan members through December 31, 2036.
The projection of cash flows used to determine the single discount rate assumed that employer contributions will be
made according to the current employer contribution schedule and that contributions are made by plan members retiring
prior to age 65.
Sensitivity of the City’s Proportionate Share of the Net OPEB Liability to Changes in the Discount Rate. The
following presents the City’s proportionate share of the net OPEB liability calculated using the discount rate of 3.32
percent, as well as what the City’s proportionate share of the net OPEB liability would be if it were calculated using a
discount rate that is 1-percentage-point lower (2.32 percent) or 1-percentage-point higher (4.32 percent) than the current
rate:
1% Decrease to
Discount Rate
(2.32%)
Current Discount
Rate (3.32%)
1% Increase to
Discount Rate
(4.32%)
City's proportionate share of the
net OPEB liability 4,865,652$ 3,621,248$ 2,671,366$
Payables to the OPEB Plan. The City is required to remit the monthly required contribution for both the employee
and City portions by the last day of the following month. There was no amount due for the life insurance plan at
December 31, 2024.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2024
56
Note 11 - Post-Employment Benefits Other Than Pension Benefits (Continued)
2. Single-Employer Defined Postemployment Benefit Plan
Plan Description. The Plan is a single employer defined benefit postemployment health plan. City provides medical
coverage (including prescription drugs) and dental coverage for retired employees through the City’s self-insure
plans. Retirees may continue in the plan by paying 100% of the premium until the retiree is eligible for Medicare.
Employees Covered by Benefit Terms. As of the December 31, 2024 actuarial valuation, the following employees
were covered by the benefit terms:
Inactive employees or beneficiaries currently receiving benefit payments 27
Active employees 592
Total Participants 619
Contributions. Retired plan members and beneficiaries currently receiving benefits are required to contribute
towards the cost of insurance premiums based on the employee group and their retirement date.
Total OPEB Liability. City’s total OPEB liability was measured as of December 31, 2024 and was determined by
an actuarial valuation as of December 31, 2024.
Actuarial Assumptions. The total OPEB liability in the December 31, 2024, actuarial valuation was determined
using the following actuarial assumptions, applied to all periods included in the measurement, unless otherwise
specified:
Inflation 3.00%
Salary Increases:
Inflation 3.00%
Seniority/Merit .4 to 4.8%
Discount Rate:3.26%
Healthcare Trend Rates: 6.0% for 2021 Decreasing to an Ultimate
Rate of 3.70% After 53 Years
Mortality rates are based on the Wisconsin 2018 Mortality table.
The actuarial assumptions that determined the total OPEB liability as of December 31, 2024 were based on the results
of an actuarial experience study for the period 2021-2023 for the Wisconsin Retirement System (WRS).
Discount Rate. The discount rate used to measure the total OPEB liability was 3.26%, which is based on the Bond
Buyer GO 20-year Municipal Bond Index as of the week of the measurement date. The discount rate used in the January
1, 2018 actuarial valuation was 4.10%. No assets have been accumulated in an irrevocable trust, so the Bond Buyer
GO 20-year Municipal Bond Index has been applied to all periods.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2024
57
Note 11 - Post-Employment Benefits Other Than Pension Benefits (Continued)
Changes in the Total OPEB Liability:
Total OPEB
Liability
$ 7,450,873
Changes for the Year:
Service Cost 523,479
Interest 291,949
Experiences (1,711,909)
Changes of Assumptions or Other Input 269,578
Benefit Payments (254,816)
Net Changes (881,719)
Balance at 12/31/2024
Sensitivity of the Total OPEB Liability to Changes in the Discount Rate. The following presents the total OPEB
liability of City, as well as what City’s total OPEB liability would be if it were calculated using a discount rate that is 1-
percentage-point lower (2.26%) or 1-percentage-point higher (4.26%) than the current rate:
1% Decrease
(2.26%)
Current Discount
Rate (3.26%)
1% Increase
(4.26%)
$$$Total OPEB Liability 7,131,234 6,569,154 6,047,009
Sensitivity of the Total OPEB Liability to Changes in the Healthcare Cost Trend Rates. The following presents
the total OPEB liability of City, as well as what City’s total OPEB liability would be if it were calculated using healthcare
cost trend rates that are 1-percentage-point lower or 1-percentage-point higher than the current healthcare cost trend
rates:
1% Decrease to
to 2.7%)
Healthcare Cost
Trend Rates
to 3.7%)
1% Increase
to 4.7%)
$$$Total OPEB Liability 5,859,936 6,569,154 7,401,942
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2024
58
Note 11 - Post-Employment Benefits Other Than Pension Benefits (Continued)
OPEB Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related to OPEB
For the year ended December 31, 2024, City recognized OPEB expense of $718,035. At December 31, 2024, City
reported deferred outflows and inflows of resources related to OPEB from the following sources:
Deferred
Outflows of
Resources
Deferred
Inflows of
Resources
Differences between projected and
actual experiences 629,982$ 3,786,514$
Changes in assumptions 3,777,933 1,651,562
Total 4,407,915$ 5,438,076$
Amounts reported as deferred outflows of resources and deferred inflows of resources related to OPEB will be
recognized in OPEB expense as follows:
Year Ending
December 31,
Net Deferred
Outflows
(Inflows) of
Resources
2025 (97,393)$
2026 (97,393)
2027 (107,484)
2028 (91,764)
2029 (72,550)
Thereafter (563,577)
(1,030,161)$
Payable to the OPEB Plan. At December 31, 2024, City did not report a payable for the outstanding amount of
contribution to the OPEB Plan required.
Note 12 - Tax Incremental Financing Districts
The City has established separate capital projects funds for the Tax Incremental Financing Districts (TID) created by
the City in accordance with Section 66.1105 of the Wisconsin Statutes. At the time the TID’s were created, the property
tax base within each TID was “frozen” and increment taxes resulting from increases to the property tax base are used
to finance TID improvements, including principal and interest on long-term debt issued by the City to finance such
improvements. State Statutes allow a tax incremental district to incur eligible project costs up to five years from the
maximum termination date.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2024
59
Note 12 - Tax Incremental Financing Districts (Continued)
The intent of the City is to recover the above amounts from future TID surplus funds, if any, prior to termination of the
respective TID’s. Unless terminated by the City prior thereto, each TID has a statutory termination year as follows:
Termination
Date
TID No.12 03/12/25
TID No.13 09/22/25
TID No.14 06/13/27
TID No.16 05/22/28
TID No.17 09/25/28
TID No.18 07/09/29
TID No.19 05/13/26
TID No.20 07/12/32
TID No.21 02/14/33
TID No.23 06/09/29
TID No.24 02/23/37
TID No.25 05/22/39
TID No.26 02/26/33
TID No.27 07/08/34
TID No.28 06/14/43
TID No.29 07/12/43
TID No.30 08/23/43
TID No.31 02/28/45
TID No.32 05/23/44
TID No.33 07/11/44
TID No.34 01/23/39
TID No.35 01/23/46
TID No.36 06/11/46
TID No.37 07/23/46
TID No.38 09/24/46
TID No.39 01/14/48
TID No.40 02/09/49
TID No.41 10/12/50
TID No.42 04/26/44
TID No.43 06/28/44
TID No.44 09/01/39 Tax Abatements
The City has entered into agreements within some of the Districts that require the City to make annual repayments of
property taxes collected within the Districts to the developers, based upon the terms of the agreements. As tax
abatements, those developer payments and the related property tax revenues are not reported as revenues or
expenditures in the financial statements.
For the year ended December 31, 2024, the City abated property taxes of $3,008,601 under this program which include
the following tax abatement agreements:
A property tax abatement of $333,111 to a developer within Tax Incremental District No. 14.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2024
60
Note 12 - Tax Incremental Financing Districts (Continued)
A property tax abatement of $69,695 to a developer within Tax Incremental District No. 21.
A property tax abatement of $650 to a developer within Tax Incremental District No. 25.
A property tax abatement of $41,358 to a developer within Tax Incremental District No. 30.
A property tax abatement of $553,229 to a developer within Tax Incremental District No. 31.
A property tax abatement of $13,864 to a developer within Tax Incremental District No. 32.
A property tax abatement of $241,940 to a developer within Tax Incremental District No. 33.
A property tax abatement of $1,150,851 to two developers within Tax Incremental District No. 34.
A property tax abatement of $310,783 to a developer within Tax Incremental District No. 36.
A property tax abatement of $225,828 to three developers within Tax Incremental District No. 37.
A property tax abatement of $35,944 to three developers within Tax Incremental District No. 39.
A property tax abatement of $21,276 to a developer within Tax Incremental District No. 40.
A property tax abatement of $10,072 to a developer within Tax Incremental District No. 41.
Note 13 - Leases
Lessor
The City has three leases recorded in the water utility on the statement of net position proprietary funds and statement
of net position.
The water utility leases tower space on Marion Road for the purpose of transmission and reception of communication
signals. This lease has an initial lease term of five years with two additional five-year terms. The initial annual payment
was $27,600 and increases $4,800 each term. Additionally, for each of the first nine years of the lease there is a
additional $6,000 required payment. The water utility leases tower space Washburn Street for the purpose of
transmission and reception of communication signals. This lease has an initial lease term of five years with two
additional five-year terms. The initial monthly payment was $1,900 and increases by $400 per month at the beginning
of the following term. Lastly, the water utility leases tower space on County Road N for the purpose of transmission and
reception of communication signals. This lease has an initial lease term of five years with two additional five-year terms.
The monthly payments were $1,900 and increases by $400 per month at the beginning of the following term. For the
year end December 31, 2024, the water utility recognized $91,711 in lease revenue and $11,489 in interest revenue
related to these agreements. At December 31, 2024, the utility recorded $418,641 in lease receivables at net present
value and deferred inflows of resources for these arrangements.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2024
61
Note 13 - Leases (Continued)
Beginning Ending
Water Utility Balance Additions Reductions Balance
Water Tower - Marion Road 292,564$ -$ 31,247$ 261,317$
Water Tower - Washburn Street 108,894 - 30,232 78,662
Water Tower - County Road N 108,894 - 30,232 78,662
510,352$ -$ 91,711$ 418,641$
Remaining amounts to be received associated with these leases at December 31, 2024 are as follows:
December 31,
2025 93,917$
2026 95,175
2027 60,638
2028 33,249
2029 34,113
2030 - 2032 101,549
Total 418,641$
Note 14 - Risk Management
The City is exposed to various risks of loss related to torts; theft of, damage to, or destruction of assets; errors and
omissions; injuries to employees; employee health claims; unemployment compensation claims; and environmental
damage for which the City purchases commercial insurance. There has been no reduction in insurance coverage from
the prior year. Insurance settlements for claims resulting from the risks covered by commercial insurance have not
exceeded the insurance coverage in the past year.
Note 15 - Health and Dental Self-Insurance Fund
The City maintains a self-insured medical care coverage plan and maintains a self-insured dental plan for its employees
since 2022. The City has established the Health Insurance Fund (an internal service fund) to account for the financing
of its uninsured risk of loss.
The Employee Benefits Fund has an established reserve of $5,866,270 at December 31, 2024 and is reported as the
net position of the Internal Service Fund. This reserve will be used to finance claims in 2025 and the future self-insurance
claims. City employees, retirees and employee dependents are eligible for medical and dental benefits from the health
insurance fund. Funding is provided by charges to City departments and employees. Fund expenses consist of
payments to a third-party administrator for medical and dental claims, stop loss insurance premiums and admin fees.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2024
62
Note 15 - Health and Dental Self-Insurance Fund (Continued)
The claims liability of $1,971,409, reported in the fund at December 31, 2024, is based on the requirements of the
Governmental Accounting Standards Board Statement (GASB) No. 10, which requires that a liability for claims be
reported if information prior to the issuance of the financial statements indicates that it is probable that a liability has
been incurred at the date of the financial statements and the amount of the loss can be reasonably estimated. Changes
in the fund’s health claims liability amount are as follows:
2022 $- $ 8,188,694 $ 5,690,069 $ 2,498,625
2023 2,498,625 7,550,360 8,307,716 1,741,269
2024 1,741,269 7,790,420 7,599,441 1,932,248
Beginning-of-
Fiscal Year
Liability
Claims and
Changes in
Estimates
Claim
Payments
Balance at
Fiscal Year-
End
Changes in the fund’s Dental claims liability amount are as follows:
2022 $- $ 472,053 $ 436,379 $ 35,674
2023 35,674 433,212 423,998 44,888
2024 44,888 439,875 445,602 39,161
Beginning-of-
Fiscal Year
Liability
Claims and
Changes in
Estimates
Claim
Payments
Balance at
Fiscal Year-
End
Note 16 - Commitments and Contingencies
The City received federal and state grants for specific purposes that are subject to review and audit by the grantor
agencies. Such audits could lead to requests for reimbursements to the grantor for expenditures disallowed under
terms of the grants. The City believes such disallowances, if any, would be immaterial.
From time to time the City is involved in legal actions and claims, most of which normally occur in governmental
operations. In the opinion of City management, these issues, and any other proceedings known to exist at
December 31, 2024, are not likely to have a material adverse impact on the City’s financial position.
Note 17 - Basis For Utility Existing Rates
Water
Current water rates were approved by the Utility commission with an effective date of January 19, 2024.
Sewer
Current sewer rates were approved by the Utility commission with an effective date of January 1, 2024.
CITY OF OSHKOSH, WISCONSIN
Notes to Financial Statements
December 31, 2024
63
Note 18 - Adjustments of Beginning Fund Balance and Net Position
During the 2024 audit, it was noted that there were correction of errors and a change in accounting principle. It was
determined that certain amounts should have been recorded as additional investment accounts that the City maintains
custody of. The change in accounting principle is related to the implementation of GASB 101. The following presents
the impact of these adjustments of beginning fund balance and net position:
Beginning Fund Balance/ Net Position - January 1, 2023 $ 172,616,079 $ 12,496,806 $ 1,332,675
Correction of Error 760,639 630,370 130,269
Change in Accounting Principle (966,390) - -
Governmental
Activities Permanent Fund Museum Fund
During the 2024 audit, it was noted that there was a correction of error and a change in accounting principle. It was
determined that there were expenditures that should have been recorded as capital assets. The change in accounting
principle is related to the implementation of GASB 101. The following presents the impact of these adjustments of
beginning fund balance and net position:
Beginning Net Position - January 1, 2024 $ 277,011,356 $ 2,380,573
Correction of Error 132,684 132,684
Business-Type
Activities
Inspection
Services Fund
Beginning Net Position - January 1, 2023 $ 259,295,516 $ 2,227,522 $ 81,006,814 $ 79,029,523
Change in Accounting Principle (285,456) (25,203) (86,170) (78,833)
Beginning Net Position - January 1, 2023 $ 71,090,989 $ 10,152,690 $ 3,214,812
Change in Accounting Principle (23,385) (70,688) (1,177)
Sewer Utility Fund
Parking Utility
Fund
Business-Type
Activities
Inspection
Services Fund Water Utility Fund
Stormwater Utility
Fund Transit Fund
REQUIRED SUPPLEMENTARY INFORMATION
City's Proportionate
City's City's Share of the Plan Fiduciary
WRS Fiscal Proportion Proportionate Net Pension Net Position
Year End Date of the Net Share of the City's Asset/Liability as a Percentage
(Measurement Pension Net Pension Covered as a Percentage of of the Total Pension
Date) Asset/Liability (Asset)/Liability Payroll Covered Payroll Liability
12/31/2023 0.35918530% 5,340,388$ 44,366,218$ 12.04%98.85%
12/31/2022 0.35436255% 18,773,078 42,455,750 44.22%95.72%
12/31/2021 0.34680947% (27,953,481) 40,712,360 68.66%106.02%
12/31/2020 0.34325180% (21,429,686) 39,367,936 54.43%105.26%
12/31/2019 0.34044120% (10,977,387) 37,849,360 29.00%102.96%
0.33514980% 11,923,578 37,018,001 32.21%96.45%
0.32543566% (9,662,570) 36,243,909 26.66%102.93%
12/31/2016 0.31987366% 2,636,523 35,129,816 7.51%99.12%
12/31/2015 0.31657015% 5,144,203 34,050,370 15.11%98.20%
12/31/2014 0.31842486% (7,821,386) 34,551,515 22.64%102.74%
Contributions in
Relation to the Contributions
Contractually Contractually Contribution as a Percentage
Required Required Deficiency Covered of Covered
Year End Date Contributions Contributions (Excess)Payroll Payroll
12/31/2024 4,804,461$ 4,804,461$ -$ 45,530,648$ 10.55%
12/31/2023 4,804,128 4,804,128 - 44,366,218 10.83%
12/31/2022 4,265,639 4,265,639 - 42,455,750 10.05%
12/31/2021 4,083,340 4,083,340 - 40,712,361 10.03%
12/31/2020 3,794,808 3,794,808 - 39,367,936 9.64%
12/31/2019 3,553,329 3,553,329 - 37,849,360 9.39%
12/31/2018 3,515,255 3,515,255 - 37,018,001 9.50%
12/31/2017 3,446,908 3,446,908 - 36,243,909 9.51%
12/31/2016 3,073,752 3,073,752 - 35,129,816 8.75%
12/31/2015 3,014,493 3,014,493 - 34,050,370 8.85%
CITY OF OSHKOSH, WISCONSIN
Schedule of Employer's Proportionate Share of the Net Pension Liability (Asset)
Wisconsin Retirement System (WRS)
Schedule of Employer Contributions
Wisconsin Retirement System (WRS)
See Accompanying Notes to Required Supplementary Information
64
City's Proportionate
City's City's Share of the Plan Fiduciary
WRS Fiscal Proportion Proportionate Net OPEB Net Position
Year End Date of the Net Share of the City's Liability as a Percentage
(Measurement OPEB Net OPEB Covered as a Percentage of of the Total
Date)Liability Liability Payroll Covered Payroll OPEB Liability
12/31/2023 0.78711600% $ 3,621,248 41,287,000$ 8.77%33.90%
12/31/2022 0.75753500% 2,886,077 40,035,000 7.21%38.81%
12/31/2021 0.74634600% 4,411,181 38,095,000 11.58%29.57%
12/31/2020 0.73820000% 4,060,633 38,252,000 10.62%31.36%
12/31/2019 0.69821100% 2,973,118 36,228,000 8.21%37.58%
12/31/2018 0.71259100% 1,838,727 37,018,001 4.97%48.69%
12/31/2017 0.71166700% 2,141,107 36,243,909 5.91%44.81%
Contributions in
Relation to the Contributions
Contractually Contractually Contribution as a Percentage
City Required Required Deficiency Covered of Covered
Year End Date Contributions Contributions (Excess)Payroll Payroll
12/31/2024 16,432$ 16,432$ -$ 42,150,000$ 0.04%
12/31/2023 16,295 16,295 - 41,287,000 0.04%
12/31/2022 14,116 14,116 - 40,035,000 0.04%
12/31/2021 13,746 13,746 - 38,095,000 0.04%
12/31/2020 14,841 14,841 - 38,252,000 0.04%
12/31/2019 13,774 13,774 - 36,228,000 0.04%
12/31/2018 13,693 13,693 - 37,018,001 0.04%
CITY OF OSHKOSH, WISCONSIN
Schedule of Employer's Proportionate Share of the Net OPEB Liability
Other Post-Employment Benefits Other Than Pensions - Local Retiree Life Insurance Fund
Schedule of Employer Contributions
Other Post-Employment Benefits Other Than Pensions - Local Retiree Life Insurance Fund
See Accompanying Notes to Required Supplementary Information
65
Total OPEB Liability
Service Cost $ 523,479 $ 690,186 $ 417,357 $ 363,894 $ 306,053 $ 334,296 $ 301,541
Interest 291,949 174,365 132,679 153,353 217,806 180,345 179,462
Effect of economic/demographic gains or losses (1,711,909) - (3,293,801) - 1,344,242 - -
Changes of Assumptions or Other Input 269,578 (1,078,683) 4,887,014 276,841 (1,487,994) (288,188) 140,539
Benefit Payments (254,816) (217,124) (203,346) (168,477) (138,207) (119,000) (199,000)
Net Change in Total OPEB Liability
Total OPEB Liability - Beginning
Total OPEB Liability - Ending
Covered-Employee Payroll $ 43,713,436 $ 39,150,924 $ 39,150,924 $ 39,150,924 $ 39,150,924 $ 38,695,522 $ 37,913,920
City's Total OPEB Liability as a Percentage of
Covered-Employee Payroll 15.03%19.03%20.13%15.18%13.58%13.11%13.10%
*Ten years of data will be accumulated beginning with 2018.
CITY OF OSHKOSH, WISCONSIN
Schedule of Change in Total OPEB Liability and Related Ratios
Last 10 Measurement Years*
2021 2020 2019 2018202220232024
See Accompanying Notes to Required Supplementary Information
66
REVENUES
Taxes $ 24,460,000 $ 24,460,000 $ 24,529,310 $ 69,310
Intergovernmental 19,200,900 19,200,900 19,322,893 121,993
Licenses and Permits 817,000 817,000 880,023 63,023
Fines, Forfeitures and Penalties 703,600 703,600 695,492 (8,108)
Public Charges for Services 4,541,800 4,541,800 5,088,863 547,063
Intergovernmental Charges for Services 2,829,257 2,829,257 2,837,707 8,450
Miscellaneous 2,510,200 2,510,200 4,108,725 1,598,525
Total Revenues 55,062,757 55,062,757 57,463,013 2,400,256
EXPENDITURES
Current:
General Government 8,298,236 8,562,272 8,109,351 452,921
Public Safety 34,119,128 35,620,775 35,074,812 545,963
Public Works 5,394,723 5,502,212 4,523,027 979,185
Transportation 1,012,056 1,047,306 928,144 119,162
Culture and Recreation 3,329,075 3,460,151 3,099,578 360,573
Conservation and Development 2,109,918 2,271,545 2,010,998 260,547
Unclassified 2,361,183 422,355 569,562 (147,207)
Total Expenditures 56,624,319 56,886,615 54,315,472 2,571,143
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES (1,561,562) (1,823,858) 3,147,541 4,971,399
OTHER FINANCING SOURCES (USE)
Sale of Capital Assets 25,000 25,000 160,909 135,909
Transfers In 1,542,600 1,542,600 1,542,600 -
Transfers Out - - (21,775) (21,775)
Total Other Financing Sources (Use)1,567,600 1,567,600 1,681,734 114,134
NET CHANGE IN FUND BALANCE 6,038 (256,258) 4,829,275 5,085,533
FUND BALANCE - BEGINNING 18,132,693 18,132,693 18,132,693 -
FUND BALANCE - ENDING $ 18,138,731 $ 17,876,435 $ 22,961,968 $ 5,085,533
Budget to Actual
Schedule of Budgetary Comparison
CITY OF OSHKOSH, WISCONSIN
(Negative)
Variance with
Positive
Final Budget
For the Year Ended December 31, 2024
General Fund
Amounts
Actual
Original Final
Budgeted Amounts
See Accompanying Notes to Required Supplementary Information
67
68
CITY OF OSHKOSH, WISCONSIN
Notes to Required Supplementary Information
For the Year Ended December 31, 2024
Defined Benefit Pension Plan
Changes of benefit terms. There were no changes of benefit terms for any participating employer in WRS.
Changes of assumptions.
Based on a three-year experience study conducted in 2021 covering January 1, 2018 through December 31, 2020, the
ETF Board adopted assumption changes that were used to measure the total pension liability beginning with the year-
end December 31, 2021, including the following:
• Lowering the long-term expected rate of return from 7.0% to 6.8%
• Lowering the discount rate from 7.0% to 6.8%
• Lowering the price inflation rate from 2.5% to 2.4%
• Lowering the post-retirement adjustments from 1.9% to 1.7%
• Mortality assumptions were changed to reflect updated trends by transitioning from the Wisconsin 2018 Mortality
Table to the 2020 WRS Experience Mortality Table.
Post-Employment Benefits Other Than Pension Benefits – Local Retiree Life Insurance Plan
Changes of benefit terms. There were no recent changes in benefit terms.
Changes of assumptions. In addition to the rate changes detailed in the tables above, the State of Wisconsin Employee
Trust Fund Board adopted economic and demographic assumption changes based on a three year experience study
performed for the Wisconsin Retirement System. These assumptions are used in the actuarial valuations of OPEB
liabilities (assets) for the retiree life insurance programs and are summarized below.
The assumption changes that were used to measure the December 31, 2021 total OPEB liabilities, including
the following:
• Lowering the price inflation rate from 2.5% to 2.4%
• Mortality assumptions were changed to reflect updated trends by transitioning from the Wisconsin 2018 Mortality
Table to the 2020 WRS Experience Mortality Table.
Post-Employment Benefits Other Than Pension Benefits – Single-Employer Plan
Changes of benefit terms. There were no recent changes in benefit terms.
Changes of assumptions.
The Discount rate changed from 3.72% to 3.26%.
69
CITY OF OSHKOSH, WISCONSIN
Notes to Required Supplementary Information
For the Year Ended December 31, 2024
Budgetary Process
The City follows these procedures in establishing the budgetary data reflected in the budgetary comparison schedule:
During November, City management submits to the Common Council a proposed operating budget for the calendar
year commencing the following January 1. The operating budget includes proposed expenditures and the means of
financing them. After submission to the governing body, public hearings are held to obtain taxpayer comments.
Following the public hearings, the proposed budget, including authorized additions and deletions, is legally enacted
by Common Council action.
Budgets are adopted on a basis consistent with accounting principles generally accepted in the United States of
America for the general fund, certain special revenue funds, debt service funds, and certain capital projects funds.
Budget is defined as the originally approved budget plus or minus approved amendments. Budget appropriations not
expended during the year are closed to fund balance unless authorized by the governing body to be forwarded into
the succeeding year’s budget.
During the year, formal budgetary integration is employed as a management control device for the general fund,
certain special revenue funds, debt service funds, and certain capital projects funds.
Expenditures may not exceed appropriations provided in detailed budget accounts maintained for each department
of the City. Amendments to the budget during the year require initial approval by management and are subsequently
authorized by the Common Council.
Excess of Actual Expenditures Over Budget
The following fund had an excess of actual expenditures over budget for the year ended December 31, 2024:
Excess
General Fund Expenditures
Unclassified $ 147,207
SUPPLEMENTARY INFORMATION
2024
ASSETS
Cash and Investments $ 20,955,250 $ 40,528,105 $ 16,052,255 $ 77,535,610 $ 67,191,581
Receivables:
Accounts Receivable 597,598 435,799 - 1,033,397 764,556
Taxes 6,650,732 4,002,912 - 10,653,644 10,365,539
Interest 276 609 - 885 1,035
Special Assessments 7,574 7,600 - 15,174 -
Loans 5,026,784 605,000 - 5,631,784 5,969,699
Due from Other Governments 21,857 - - 21,857 -
Inventory and Prepaid Items 78,002 - - 78,002 9,561
Due from Other Funds 384,805 7,782,886 - 8,167,691 12,427,770
Total Assets $ 33,722,878 $ 53,362,911 $ 16,052,255 $ 103,138,044 $ 96,729,741
LIABILITIES
Accounts Payable $ 1,132,705 $ 9,128,645 $ - $ 10,261,350 $ 7,943,511
Due to Other Funds 192,068 15,064,697 192,737 15,449,502 14,727,770
Deposits from Others - 363,271 - 363,271 351,174
Unearned Revenue:
Grant 15,838 - - 15,838 8,000
American Rescue Plan Act Funds 4,374,029 - - 4,374,029 15,064,937
Total Liabilities 5,714,640 24,556,613 192,737 30,463,990 38,095,392
DEFERRED INFLOWS OF RESOURCES
Taxes Levied for Subsequent Period 10,216,600 6,149,121 - 16,365,721 15,306,027
FUND BALANCES
Nonspendable 78,002 - 6,160,474 6,238,476 3,655,862
Restricted 7,889,783 15,560,382 9,699,044 33,149,209 30,623,958
Committed 9,251,416 - - 9,251,416 9,024,540
Assigned 1,027,595 20,309,777 - 21,337,372 13,288,261
Unassigned (Deficits)(455,158) (13,212,982) - (13,668,140) (13,264,299)
Total Fund Balances 17,791,638 22,657,177 15,859,518 56,308,333 43,328,322
TOTAL LIABILITIES, DEFERRED INFLOWS
OF RESOURCES AND FUND BALANCES $ 33,722,878 $ 53,362,911 $ 16,052,255 $ 103,138,044 $ 96,729,741
Special
Revenue
Capital
Projects
Totals
Permanent 2023
CITY OF OSHKOSH, WISCONSIN
Combining Balance Sheet
Nonmajor Governmental Funds
As of December 31, 2024
With Summarized Information from December 31, 2023
70
CITY OF OSHKOSH, WISCONSIN
Combining Balance Sheet
Nonmajor Governmental Funds
As of December 31, 2024
With Summarized Information from December 31, 2023
ASSETS
Cash and Investments $ 154,530 200,154 3,215,762 756,821 1,273,147 1,846,546 415,142 579,385 89,581 240,189 1,019,162 205,424
Receivables:
Accounts Receivable 10,030 3,109 854 2,380 514 743 1,291 - 555,180 - - 1,692
Taxes 255,832 - - 709,951 2,213,309 683,522 227,841 1,080,615 - - - -
Interest Receivable - - - - - - - - - - 276 -
Special Assessments - - 800 - - - - - - - - -
Loans - - - - - - - - 3,922,638 50,000 1,054,146 -
Due from Other Governments - - - - - - - - - - - -
Inventory and Prepaid Items 5,582 6,066 10,861 - - 4,961 857 - - - - -
Due from Other Funds - - - - 7,717 248,126 103,962 - - - - -
Total Assets $ 425,974 $ 209,329 $ 3,228,277 $ 1,469,152 $ 3,494,687 $ 2,783,898 749,093 1,660,000 $ 4,567,399 290,189 2,073,584 207,116
LIABILITIES
Accounts Payable 7,109 37,150 13,376 81,693 43,284 10,070 3,089 - 213,250 - - 2,534
Due to Other Funds - - - - - - - - - - - -
Deposits from Others - - - - - - - - - - - -
Unearned Revenues
Grant - - - - - - - - - - - -
American Rescue Plan Act Funds - - - - - - - - - - - -
Total Liabilities 7,109 37,150 13,376 81,693 43,284 10,070 3,089 - 213,250 - - 2,534
DEFERRED INFLOWS OF RESOURCES
Taxes Levied for Subsequent Period 393,000 - - 1,090,600 3,400,000 1,050,000 350,000 1,660,000 - - - -
FUND BALANCES (DEFICITS)
Nonspendable 5,582 6,066 10,861 - - 4,961 857 - - - - -
Restricted 20,283 166,113 - - - - - - 4,354,149 290,189 2,073,584 -
Committed - - 3,204,040 296,859 51,403 1,718,867 395,147 - - - - 204,582
Assigned - - - - - - - - - - - -
Unassigned (Deficits)- - - - - - - - - - - -
Total Fund Balances (Deficits)25,865 172,179 3,214,901 296,859 51,403 1,723,828 396,004 - 4,354,149 290,189 2,073,584 204,582
TOTAL LIABILITIES, DEFERRED INFLOWS
OF RESOURCES AND FUND
BALANCES (DEFICITS)$ 425,974 $ 209,329 $ 3,228,277 $ 1,469,152 $ 3,494,687 $ 2,783,898 749,093 1,660,000 $ 4,567,399 290,189 2,073,584 207,116
Special Revenue Funds
Senior Services
Business
Improvement
District Recycling Street Lighting Library Museum Cemetery
Community
Development
Block Grant
Neighborhood
Improvement
Loan Program
Senior
Services
Revolving
Loans
Local
Revolving
Loan Program
Ambulance
Services
71
CITY OF OSHKOSH, WISCONSIN
Combining Balance Sheet
Nonmajor Governmental Funds
As of December 31, 2024
With Summarized Information from December 31, 2023
ASSETS
Cash and Investments
Receivables:
Accounts Receivable
Taxes
Interest Receivable
Special Assessments
Loans
Due from Other Governments
Inventory and Prepaid Items
Due from Other Funds
Total Assets
LIABILITIES
Accounts Payable
Due to Other Funds
Deposits from Others
Unearned Revenues
Grant
American Rescue Plan Act Funds
Total Liabilities
DEFERRED INFLOWS OF RESOURCES
Taxes Levied for Subsequent Period
FUND BALANCES (DEFICITS)
Nonspendable
Restricted
Committed
Assigned
Unassigned (Deficits)
Total Fund Balances (Deficits)
TOTAL LIABILITIES, DEFERRED INFLOWS
OF RESOURCES AND FUND
BALANCES (DEFICITS)
Leach
$485,432 369,632 178,111 752,746 101,394 - 647,327 - 2,462,601 45,770 5,916,394 20,955,250
- 1,077 - 1,531 250 605 5,698 - 12,644 - - 597,598
- - - - 14,972 - 1,295,437 169,253 - - - 6,650,732
- - - - - - - - - - - 276
- - - - - - 6,774 - - - - 7,574
- - - - - - - - - - - 5,026,784
- 21,857 - - - - - - - - - 21,857
5,713 1,736 - 2,847 - 310 9,973 1,662 - - 27,434 78,002
- - - - 25,000 - - - - - - 384,805
$ 491,145 $ 394,302 $ 178,111 $ 757,124 $ 141,616 $ 915 $ 1,965,209 $ 170,915 $ 2,475,245 $ 45,770 $ 5,943,828 $ 33,722,878
5,713 49,093 - 4,133 4,281 48,283 87,168 2,733 4,976 - 514,770 1,132,705
- - - - - 158,126 - 33,942 - - - 192,068
- - - - - - - - - - - -
- 15,838 - - - - - - - - - 15,838
- - - - - - - - - - 4,374,029 4,374,029
5,713 64,931 - 4,133 4,281 206,409 87,168 36,675 4,976 - 4,888,799 5,714,640
- - - - 23,000 - 1,990,000 260,000 - - - 10,216,600
5,713 1,736 - 2,847 - 310 9,973 1,662 - - 27,434 78,002
479,719 327,635 178,111 - - - - - - - - 7,889,783
- - - 750,144 114,335 - - - 2,470,269 45,770 - 9,251,416
- - - - - - - - - - 1,027,595 1,027,595
- - - - - (205,804) (121,932) (127,422) - - - (455,158)
485,432 329,371 178,111 752,991 114,335 (205,494) (111,959) (125,760) 2,470,269 45,770 1,055,029 17,791,638
$ 491,145 $ 394,302 $ 178,111 $ 757,124 $ 141,616 $ 915 $ 1,965,209 $ 170,915 $ 2,475,245 $ 45,770 $ 5,943,828 $ 33,722,878
Special Revenue Funds
Special
Pollock
Water Park
Park Revenue
Facilities
Garbage
Collection
and Disposal Special Events
Healthy
Neighborhood
Initiatives
Total
Nonmajor
Special
Revenue
FundsFire Special
Community
Development
Special
Rental
InspectionsPolice Special
72
CITY OF OSHKOSH, WISCONSIN
Combining Balance Sheet
Nonmajor Governmental Funds
As of December 31, 2024
With Summarized Information from December 31, 2023
ASSETS
Cash and Investments
Receivables:
Accounts Receivable
Taxes
Interest Receivable
Special Assessments
Loans
Due from Other Governments
Inventory and Prepaid Items
Due from Other Funds
Total Assets
LIABILITIES
Accounts Payable
Due to Other Funds
Deposits from Others
Unearned Revenues
Grant
American Rescue Plan Act Funds
Total Liabilities
DEFERRED INFLOWS OF RESOURCES
Taxes Levied for Subsequent Period
FUND BALANCES (DEFICITS)
Nonspendable
Restricted
Committed
Assigned
Unassigned (Deficits)
Total Fund Balances (Deficits)
TOTAL LIABILITIES, DEFERRED INFLOWS
OF RESOURCES AND FUND
BALANCES (DEFICITS)
$- 11,341,010 - 137,144 12,462,880 1,216,975 434,209 2,000 129,408 2,913,388
- - 400 - 310,525 100 - - - 115,261
- - - - - - - - - -
- - - - - - - - - -
- - 7,600 - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
$- 11,341,010 8,000 $ 137,144 $ 12,773,405 1,217,075 $ 434,209 $ 2,000 $ 129,408 $ 3,028,649
- - - - 8,765,009 95,722 - - - -
4,965,560 - 31,511 - - - - - - -
- - - 137,144 225,127 - - - - -
- - - - - - - - - -
- - - - - - - - - -
4,965,560 - 31,511 137,144 8,990,136 95,722 - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- 11,341,010 - - 3,783,269 1,121,353 434,209 2,000 129,408 3,028,649
(4,965,560) - (23,511) - - - - - - -
(4,965,560) 11,341,010 (23,511) - 3,783,269 1,121,353 434,209 2,000 129,408 3,028,649
$- 11,341,010 8,000 $ 137,144 $ 12,773,405 1,217,075 $ 434,209 $ 2,000 $ 129,408 $ 3,028,649
Capital Projects Funds
Park
Subdivision
Improvement
Mct Rochlin
Park
Smokestack
Street Tree
Memorial
Street
Improvement
Sidewalk
Construction
Advance
Payments
Special
Assessment
Special
Assessments
Replacement
Park
Improvement
and
Acquisition
Contract
Control Senior Center
73
CITY OF OSHKOSH, WISCONSIN
Combining Balance Sheet
Nonmajor Governmental Funds
As of December 31, 2024
With Summarized Information from December 31, 2023
ASSETS
Cash and Investments
Receivables:
Accounts Receivable
Taxes
Interest Receivable
Special Assessments
Loans
Due from Other Governments
Inventory and Prepaid Items
Due from Other Funds
Total Assets
LIABILITIES
Accounts Payable
Due to Other Funds
Deposits from Others
Unearned Revenues
Grant
American Rescue Plan Act Funds
Total Liabilities
DEFERRED INFLOWS OF RESOURCES
Taxes Levied for Subsequent Period
FUND BALANCES (DEFICITS)
Nonspendable
Restricted
Committed
Assigned
Unassigned (Deficits)
Total Fund Balances (Deficits)
TOTAL LIABILITIES, DEFERRED INFLOWS
OF RESOURCES AND FUND
BALANCES (DEFICITS)
$- 469,271 24,873 681,315 - 887,832 - 822,400 712,349 581,340
- 1,095 - - - - - - - -
110,665 - - 84,283 178,116 292,825 93,532 83,295 130,861 276,391
- - - - - - - 609 - -
- - - - - - - - - -
- - - - - 555,000 - 50,000 - -
- - - - - - - - - -
- - - - - - - - - -
- - - 224,024 - - 3,435,115 - - -
$ 110,665 $ 470,366 $ 24,873 989,622 $ 178,116 $ 1,735,657 $ 3,528,647 $ 956,304 $ 843,210 $ 857,731
1,312 487 - - - - - - - -
89,337 - - - 224,024 - - - - -
- - - - 1,000 - - - - -
- - - - - - - - - -
- - - - - - - - - -
90,649 487 - - 225,024 - - - - -
170,000 - - 129,473 273,615 449,826 143,680 127,955 201,023 424,581
- - - - - - - - - -
- - 24,873 860,149 - 1,285,831 3,384,967 828,349 642,187 433,150
- - - - - - - - - -
- 469,879 - - - - - - - -
(149,984) - - - (320,523) - - - - -
(149,984) 469,879 24,873 860,149 (320,523) 1,285,831 3,384,967 828,349 642,187 433,150
$ 110,665 $ 470,366 $ 24,873 989,622 $ 178,116 $ 1,735,657 $ 3,528,647 $ 956,304 $ 843,210 $ 857,731
Capital Projects Funds
TIF No. 14
Mercy
Medical
Center
TIF No. 8 S
Aviation
Industrial
TIF No. 17 City
Centre
Redevelopment
TIF No. 13
Marion
Road/Pearl
Avenue
Grand Opera
House
Parking Ramp
Improvements
TIF No. 12
Division
Street
TIF No. 15
Park Plaza/
Commerce
Street
TIF No. 16 100
Block
Redevelopment
TIF No. 18 SW
Industrial Park
Expansion
74
CITY OF OSHKOSH, WISCONSIN
Combining Balance Sheet
Nonmajor Governmental Funds
As of December 31, 2024
With Summarized Information from December 31, 2023
ASSETS
Cash and Investments
Receivables:
Accounts Receivable
Taxes
Interest Receivable
Special Assessments
Loans
Due from Other Governments
Inventory and Prepaid Items
Due from Other Funds
Total Assets
LIABILITIES
Accounts Payable
Due to Other Funds
Deposits from Others
Unearned Revenues
Grant
American Rescue Plan Act Funds
Total Liabilities
DEFERRED INFLOWS OF RESOURCES
Taxes Levied for Subsequent Period
FUND BALANCES (DEFICITS)
Nonspendable
Restricted
Committed
Assigned
Unassigned (Deficits)
Total Fund Balances (Deficits)
TOTAL LIABILITIES, DEFERRED INFLOWS
OF RESOURCES AND FUND
BALANCES (DEFICITS)
$1,322,601 137,665 1,079,692 - 311,596 1,017,845 - - 113,865 47,767
- - - - - - - - - 8,418
148,121 - 304,607 8,574 100,613 90,678 - 312,992 30,408 10,646
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- 2,345,913 - - - 1,372,283 - - - -
$ 1,470,722 $ 2,483,578 $ 1,384,299 $ 8,574 $ 412,209 $ 2,480,806 $- $ 312,992 $ 144,273 $ 66,831
- 215,139 - - - - - - 37,722 -
- - - 3,372,283 - 2,195,403 3,780,028 326,865 - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- 215,139 - 3,372,283 - 2,195,403 3,780,028 326,865 37,722 -
227,538 - 467,926 13,171 154,558 139,296 - 480,806 46,711 16,354
- - - - - - - - - -
1,243,184 2,268,439 916,373 - 257,651 146,107 - - 59,840 50,477
- - - - - - - - - -
- - - - - - - - - -
- - - (3,376,880) - - (3,780,028) (494,679) - -
1,243,184 2,268,439 916,373 (3,376,880) 257,651 146,107 (3,780,028) (494,679) 59,840 50,477
$ 1,470,722 $ 2,483,578 $ 1,384,299 $ 8,574 $ 412,209 $ 2,480,806 $- $ 312,992 $ 144,273 $ 66,831
Capital Projects Funds
TIF No. 24
Oshkosh
Corp E-Coat Center Hotel
TIF No. 26
Aviation
Business Park
Main Street
Industrial Park
TIF No. 28 Beach
Building
Redevelopment
TIF No. 29
Morgan
District
TIF No. 23 SW
Expansion
TIF No. 19
Expansion
TIF No. 21
Fox River
Corridor
TIF No. 20 South
Shore
Redevelopment
75
CITY OF OSHKOSH, WISCONSIN
Combining Balance Sheet
Nonmajor Governmental Funds
As of December 31, 2024
With Summarized Information from December 31, 2023
ASSETS
Cash and Investments
Receivables:
Accounts Receivable
Taxes
Interest Receivable
Special Assessments
Loans
Due from Other Governments
Inventory and Prepaid Items
Due from Other Funds
Total Assets
LIABILITIES
Accounts Payable
Due to Other Funds
Deposits from Others
Unearned Revenues
Grant
American Rescue Plan Act Funds
Total Liabilities
DEFERRED INFLOWS OF RESOURCES
Taxes Levied for Subsequent Period
FUND BALANCES (DEFICITS)
Nonspendable
Restricted
Committed
Assigned
Unassigned (Deficits)
Total Fund Balances (Deficits)
TOTAL LIABILITIES, DEFERRED INFLOWS
OF RESOURCES AND FUND
BALANCES (DEFICITS)
$90,434 185,617 10,905 461,102 307,833 2,193,940 195,683 117,107 16,216 60,088
- - - - - - - - - -
31,276 252,449 6,503 133,548 594,290 340,521 244,527 96,837 206 25,022
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - 405,551 - - - -
$ 121,710 $ 438,066 $ 17,408 $ 594,650 $ 902,123 $ 2,940,012 $ 440,210 $ 213,944 16,422 $ 85,110
- 13,254 - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- 13,254 - - - - - - - -
48,045 387,802 9,989 205,151 912,926 523,095 375,633 148,758 317 38,438
- - - - - - - - - -
73,665 37,010 7,419 389,499 - 2,416,917 64,577 65,186 16,105 46,672
- - - - - - - - - -
- - - - - - - - - -
- - - - (10,803) - - - - -
73,665 37,010 7,419 389,499 (10,803) 2,416,917 64,577 65,186 16,105 46,672
$ 121,710 $ 438,066 $ 17,408 $ 594,650 $ 902,123 $ 2,940,012 $ 440,210 $ 213,944 16,422 $ 85,110
TIF No. 30
Washington
Building
TIF No. 32
Granary
Redevelopment
TIF No. 33
Lamico
Redevelopment
TIF No. 34
Oshkosh Corp
Headquarters
TIF No. 35
Oshkosh Ave
Corridor Redevelopment
TIF No. 38
Pioneer
Redevelopment
School
Redevelopment
TIF No. 37
Aviation
Plaza
Capital Projects Funds
TIF No. 31
Buckstaff
Redevelopment
76
CITY OF OSHKOSH, WISCONSIN
Combining Balance Sheet
Nonmajor Governmental Funds
As of December 31, 2024
With Summarized Information from December 31, 2023
ASSETS
Cash and Investments
Receivables:
Accounts Receivable
Taxes
Interest Receivable
Special Assessments
Loans
Due from Other Governments
Inventory and Prepaid Items
Due from Other Funds
Total Assets
LIABILITIES
Accounts Payable
Due to Other Funds
Deposits from Others
Unearned Revenues
Grant
American Rescue Plan Act Funds
Total Liabilities
DEFERRED INFLOWS OF RESOURCES
Taxes Levied for Subsequent Period
FUND BALANCES (DEFICITS)
Nonspendable
Restricted
Committed
Assigned
Unassigned (Deficits)
Total Fund Balances (Deficits)
TOTAL LIABILITIES, DEFERRED INFLOWS
OF RESOURCES AND FUND
BALANCES (DEFICITS)
$- - - - - 41,755 40,528,105 61,483,355 52,840,279
- - - - - - 435,799 1,033,397 764,556
14,351 6,754 20 1 - - 4,002,912 10,653,644 10,365,539
- - - - - - 609 885 1,035
- - - - - - 7,600 15,174 -
- - - - - - 605,000 5,631,784 5,969,699
- - - - - - - 21,857 -
- - - - - - - 78,002 9,561
- - - - - - 7,782,886 8,167,691 12,427,770
$ 14,351 $ 6,754 $20 $1 $- $ 41,755 $ 53,362,911 $ 87,085,789 $ 82,378,439
- - - - - - 9,128,645 10,261,350 7,941,441
3,048 7,573 2,691 65,374 1,000 - 15,064,697 15,256,765 14,522,039
- - - - - - 363,271 363,271 351,174
- - - - - - - 15,838 8,000
- - - - - - - 4,374,029 15,064,937
3,048 7,573 2,691 65,374 1,000 - 24,556,613 30,271,253 37,887,591
22,046 10,376 30 2 - - 6,149,121 16,365,721 15,306,027
- - - - - - - 78,002 9,561
- - - - - 41,755 15,560,382 23,450,165 20,126,758
- - - - - - - 9,251,416 9,024,540
- - - - - - 20,309,777 21,337,372 13,288,261
(10,743) (11,195) (2,701) (65,375) (1,000) - (13,212,982) (13,668,140) (13,264,299)
(10,743) (11,195) (2,701) (65,375) (1,000) 41,755 22,657,177 40,448,815 29,184,821
$ 14,351 $ 6,754 $20 $1 $- $ 41,755 $ 53,362,911 $ 87,085,789 $ 82,378,439
2024
TIF No. 40 Miles
Kimball
Redevelopment
TIF No. 41 Smith
School
Redevelopment
Total Nonmajor
Capital Projects
Funds
TIF Reserve
Fund
TIF No. 44 NW
Oshkosh
Expansion
TIF No. 43 Mill on
Main
TIF No. 42
Morgan Crossing
Total Nonmajor FundsCapital Projects Funds
77
REVENUES
Taxes $ 7,540,400 $ 5,535,674 $- 13,076,074 $ 11,223,792
Special Assessments 194,508 - - 194,508 140,610
Intergovernmental 13,484,500 265,980 - 13,750,480 5,949,181
Licenses and Permits 76,235 - - 76,235 60,291
Public Charges for Services 1,784,914 6,680 - 1,791,594 1,859,203
Investment Earnings 1,248,027 635,694 1,089,229 2,972,950 2,344,589
Donations 748,434 18,460 930,865 1,697,759 763,009
Miscellaneous 709,823 3,371,438 70,746 4,152,007 834,020
Total Revenues 25,786,841 9,833,926 2,090,840 37,711,607 23,174,695
EXPENDITURES
Current:
Public Safety 3,472,905 - - 3,472,905 219,401
Public Works 5,196,282 12,672 - 5,208,954 5,066,147
Health and Human Services 1,162,427 1,961 - 1,164,388 1,107,916
Culture and Recreation 8,318,584 44,816 171,484 8,534,884 8,761,607
Conservation and Development 5,342,324 736,231 - 6,078,555 4,366,508
Debt Service
Principal - 1,274,868 - 1,274,868 1,912,610
Interest - 298,931 - 298,931 245,363
Capital Outlay 477,245 9,035,643 - 9,512,888 13,944,727
Total Expenditures 25,492,365 11,405,122 171,484 37,068,971 35,624,279
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES 294,476 (1,571,196) 1,919,356 642,636 (12,449,584)
OTHER FINANCING SOURCES (USE)
Proceeds of Long-Term Debt - 12,315,600 - 12,315,600 1,339,287
Transfers In 486,213 - - 486,213 7,730,959
Transfers Out (261,099) - (203,339) (464,438) (226,959)
Total Other Financing Sources (Use)225,114 12,315,600 (203,339) 12,337,375 8,843,287
NET CHANGE IN FUND BALANCES 519,590 10,744,404 1,716,017 12,980,011 (3,606,297)
FUND BALANCES - BEGINNING, AS PREVIOUSLY PRESENTED
FUND BALANCES - BEGINNING, AS ADJUSTED 17,272,048 11,912,773 14,143,501 43,328,322 46,934,619
FUND BALANCES - ENDING $ 17,791,638 $ 22,657,177 $ 15,859,518 $ 56,308,333 $ 43,328,322
Special
Revenue Capital Projects
Totals
Permanent 20232024
CITY OF OSHKOSH, WISCONSIN
Combining Statement of Revenues, Expenditures and Changes in Fund Balances
Nonmajor Governmental Funds
For the Year Ended December 31, 2024
With Summarized Information From December 31, 2023
78
REVENUES
Taxes $ 393,000 $- - $ 1,060,300 $ 2,876,500 $ 1,029,100 $ 328,500 - - $- $- $-
Special Assessments - 140,610 - - - - - - - - - -
Intergovernmental 93,746 - 237,193 - 797,246 5,000 - - 1,309,221 - - -
Licenses and Permits - - - - - - - - - - - -
Charges for Services 28 - 897,683 - 209,268 30,038 62,946 - - - - -
Investment Earnings (Loss)10,692 10,021 169,773 39,558 82,668 145,656 22,512 - 6,395 11,291 44,529 9,271
Donations 89,122 - - - - 120,599 32,928 - - - - 9,167
Miscellaneous 85,669 83,695 1,070 2,380 - 30,938 1,270 - 160,029 - 10,551 54,613
Total Revenues 672,257 234,326 1,305,719 1,102,238 3,965,682 1,361,331 448,156 - 1,475,645 11,291 55,080 73,051
EXPENDITURES
Current:
General Government - - - - - - - - - - - -
Public Safety - - - - - - - - - - - -
Public Works - - 1,020,118 1,028,599 - - - - - - - -
Health and Human Services 681,073 - - - - - 446,392 - - - - 34,962
Culture and Recreation - - - - 4,142,934 1,271,701 - - - - - -
Conservation and Development - 227,471 - - - - - - 1,465,158 - 213,142 -
Debt Service
Principal - - - - - - - - - - - -
Interest - - - - - - - - - - - -
Capital Outlay - - - - - 1,527 - - - - - 6,730
Total Expenditures 681,073 227,471 1,020,118 1,028,599 4,142,934 1,273,228 446,392 - 1,465,158 - 213,142 41,692
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES (8,816) 6,855 285,601 73,639 (177,252) 88,103 1,764 - 10,487 11,291 (158,062) 31,359
OTHER FINANCING SOURCES (USE)
Proceeds of Long-Term Debt - - - - - - - - - - - -
Transfers In - 50,000 - - - 89,166 70,020 - - - 211,099 -
Transfers Out - - - - - - - - - - - -
Total Other Financing Sources (Use)- 50,000 - - - 89,166 70,020 - - - 211,099 -
NET CHANGE IN FUND BALANCES (8,816) 56,855 285,601 73,639 (177,252) 177,269 71,784 - 10,487 11,291 53,037 31,359
FUND BALANCES (DEFICITS) - BEGINNING, AS PREVIOUSLY REPORTED
FUND BALANCES (DEFICITS) - BEGINNING, AS ADJUSTED
FUND BALANCES (DEFICITS) - ENDING $ 25,865 $ 172,179 3,214,901 $ 296,859 $ 51,403 $ 1,723,828 $ 396,004 - 4,354,149 $ 290,189 $ 2,073,584 $ 204,582
Special Revenue Funds
Senior
Services
Revolving
Loans Senior Services Recycling
Business
Improvement
District
CITY OF OSHKOSH, WISCONSIN
Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficits)
Nonmajor Governmental Funds
For the Year Ended December 31, 2024
With Summarized Information From December 31, 2023
LibraryStreet Lighting Museum Cemetery
Community
Development
Block Grant
Neighborhood
Improvement
Loan Program Loan Program
Ambulance
Services
79
REVENUES
Taxes
Special Assessments
Intergovernmental
Licenses and Permits
Charges for Services
Investment Earnings (Loss)
Donations
Miscellaneous
Total Revenues
EXPENDITURES
Current:
General Government
Public Safety
Public Works
Health and Human Services
Culture and Recreation
Conservation and Development
Debt Service
Principal
Interest
Capital Outlay
Total Expenditures
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USE)
Proceeds of Long-Term Debt
Transfers In
Transfers Out
Total Other Financing Sources (Use)
NET CHANGE IN FUND BALANCES
Error Correction
FUND BALANCES (DEFICITS) - ENDING
$- - $- $- $ 23,000 $- $ 1,730,000 $ 100,000 $- $- $- $ 7,540,400
- - - - - 53,898 - - - - - 194,508
179,705 164,155 7,327 - - - - - - - 10,690,907 13,484,500
- - - - - 76,235 - - - - - 76,235
- 5,035 - 234,630 39,120 - 64,752 241,414 - - - 1,784,914
23,050 22,401 8,213 32,912 5,303 (3,402) 40,671 - 125,908 3,453 437,152 1,248,027
80,241 - - 74,527 11,737 - - 330,113 - - - 748,434
43,548 2,500 - 15,291 4,492 - - 46,449 167,328 - - 709,823
326,544 194,091 15,540 357,360 83,652 126,731 1,835,423 717,976 293,236 3,453 11,128,059 25,786,841
- - - - - - - - - - 1,522,598 1,522,598
114,161 305,351 - - - - - - - - 3,053,393 3,472,905
- - - - - 290,893 1,901,587 - - - 955,085 5,196,282
- - - - - - - - - - - 1,162,427
- - - 291,232 91,119 - - 487,253 - - 2,034,345 8,318,584
- - - - - - - - 522,065 - 2,914,488 5,342,324
- - - - - - - - - - - -
- - - - - - - - - - - -
25,000 8,905 - - - - - 435,083 - - - 477,245
139,161 314,256 - 291,232 91,119 290,893 1,901,587 922,336 522,065 - 10,479,909 25,492,365
187,383 (120,165) 15,540 66,128 (7,467) (164,162) (66,164) (204,360) (228,829) 3,453 648,150 294,476
- - - - - - - - - - - -
- 40,928 - - 25,000 - - - - - - 486,213
- - - - - - - - - - (261,099) (261,099)
- 40,928 - - 25,000 - - - - - (261,099) 225,114
187,383 (79,237) 15,540 66,128 17,533 (164,162) (66,164) (204,360) (228,829) 3,453 387,051 519,590
$ 485,432 329,371 $ 178,111 $ 752,991 $ 114,335 $ (205,494) $ (111,959) $ (125,760) $ 2,470,269 $ 45,770 $ 1,055,029 $ 17,791,638
Special Revenue Funds
Police Special
Healthy
Neighborhood
Initiatives
Rental
Inspections Special Events
Park Revenue
Facilities
Leach
Amphitheater
CITY OF OSHKOSH, WISCONSIN
Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficits)
Nonmajor Governmental Funds
For the Year Ended December 31, 2024
With Summarized Information From December 31, 2023
Community
Development
Special
Special
Revenue Funds Fire Special
Public Works
Special
Garbage
Collection and
Disposal
Pollock Water
Park
80
REVENUES
Taxes
Special Assessments
Intergovernmental
Licenses and Permits
Charges for Services
Investment Earnings (Loss)
Donations
Miscellaneous
Total Revenues
EXPENDITURES
Current:
General Government
Public Safety
Public Works
Health and Human Services
Culture and Recreation
Conservation and Development
Debt Service
Principal
Interest
Capital Outlay
Total Expenditures
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USE)
Proceeds of Long-Term Debt
Transfers In
Transfers Out
Total Other Financing Sources (Use)
NET CHANGE IN FUND BALANCES
Error Correction
FUND BALANCES (DEFICITS) - ENDING
$- $- $- $- $- $- $- $- $- $ 778,649
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - 6,680 - - - -
- - - - - - - - 6,130 -
- - 18,457 - - - - - 2 -
- - - - 789,822 216,638 23,170 - - 2,250,000
- - 18,457 - 789,822 223,318 23,170 - 6,132 3,028,649
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - 1,961 -
- - - - - 2,718 - - - -
- - 231,111 - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
1,917,433 5,577,699 - - - 1,055,981 - - - -
1,917,433 5,577,699 231,111 - - 1,058,699 - - 1,961 -
(1,917,433) (5,577,699) (212,654) - 789,822 (835,381) 23,170 - 4,171 3,028,649
300,000 8,565,600 - - - 3,450,000 - - - -
- - - - - - - - - -
- - - - - - - - - -
300,000 8,565,600 - - - 3,450,000 - - - -
(1,617,433) 2,987,901 (212,654) - 789,822 2,614,619 23,170 - 4,171 3,028,649
$ (4,965,560) $ 11,341,010 $ (23,511) $- $ 3,783,269 $ 1,121,353 $ 434,209 $ 2,000 $ 129,408 $ 3,028,649
CITY OF OSHKOSH, WISCONSIN
Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficits)
Nonmajor Governmental Funds
For the Year Ended December 31, 2024
With Summarized Information From December 31, 2023
Capital Project Funds
Senior Center
Mct Rochlin
Park
Smokestack
Park
Subdivision
Improvement
Park
Improvement
and Acquisition
Special
Assessments
Replacement
Advance
Payments
Special
Assessment
Contract
Control
Sidewalk
Construction
Street
Improvement
Street Tree
Memorial
81
REVENUES
Taxes
Special Assessments
Intergovernmental
Licenses and Permits
Charges for Services
Investment Earnings (Loss)
Donations
Miscellaneous
Total Revenues
EXPENDITURES
Current:
General Government
Public Safety
Public Works
Health and Human Services
Culture and Recreation
Conservation and Development
Debt Service
Principal
Interest
Capital Outlay
Total Expenditures
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USE)
Proceeds of Long-Term Debt
Transfers In
Transfers Out
Total Other Financing Sources (Use)
NET CHANGE IN FUND BALANCES
Error Correction
FUND BALANCES (DEFICITS) - ENDING
$ 36,900 $- $- $ 153,637 $ 348,390 $ 269,971 $ 218,768 $ 152,264 $ 322,441 $ 526,143
- - - - - - - - - -
- - - 1,953 10,112 112 47,573 564 52,522 54,240
- - - - - - - - - -
- - - - - - - - - -
(7,437) 25,646 1,344 46,638 (12,300) 50,221 162,850 36,241 40,584 20,255
1 - - - - - - - - -
- 50,119 - - - - - - - -
29,464 75,765 1,344 202,228 346,202 320,304 429,191 189,069 415,547 600,638
- - - - - - - - - -
- - - - - - - - - -
- 12,672 - - - - - - - -
- - - - - - - - - -
42,098 - - - - - - - - -
- - - 149,827 260 73,734 129,870 150 150 150
- - 5,000 - 75,000 - - - 300,000 40,000
- - 435 - 4,275 - - - 46,950 1,200
6,500 139,522 - - - - - - - -
48,598 152,194 5,435 149,827 79,535 73,734 129,870 150 347,100 41,350
(19,134) (76,429) (4,091) 52,401 266,667 246,570 299,321 188,919 68,447 559,288
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
(19,134) (76,429) (4,091) 52,401 266,667 246,570 299,321 188,919 68,447 559,288
$ (149,984) $ 469,879 $ 24,873 $ 860,149 $ (320,523) $ 1,285,831 $ 3,384,967 $ 828,349 $ 642,187 $ 433,150
CITY OF OSHKOSH, WISCONSIN
Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficits)
Nonmajor Governmental Funds
For the Year Ended December 31, 2024
With Summarized Information From December 31, 2023
Capital Project Funds
TIF No. 15 Park
Plaza/
Commerce
Street
TIF No. 16 100
Block
Redevelopment
TIF No. 12
Division Street
TIF No. 13
Marion
Road/Pearl
Avenue
Grand Opera
House
Parking Ramp
Improvements
TIF No. 8 S
Aviation
Industrial
TIF No. 14
Mercy Medical
Center
TIF No. 17 City
Centre
Redevelopment
TIF No. 18 SW
Industrial Park
Expansion
82
REVENUES
Taxes
Special Assessments
Intergovernmental
Licenses and Permits
Charges for Services
Investment Earnings (Loss)
Donations
Miscellaneous
Total Revenues
EXPENDITURES
Current:
General Government
Public Safety
Public Works
Health and Human Services
Culture and Recreation
Conservation and Development
Debt Service
Principal
Interest
Capital Outlay
Total Expenditures
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USE)
Proceeds of Long-Term Debt
Transfers In
Transfers Out
Total Other Financing Sources (Use)
NET CHANGE IN FUND BALANCES
Error Correction
FUND BALANCES (DEFICITS) - ENDING
$ 266,483 $- $ 454,200 $ 23,401 $ 231,473 $ 282,525 $- $ 381,910 $58,358 $ 17,867
- - - - - - - - - -
25,259 1,049 485 - 8,693 7,674 - 55,744 - -
- - - - - - - - - -
- - - - - - - - - -
57,737 132,601 47,436 (145,701) 11,427 114,745 (176,954) (24,890) 4,412 2,315
- - - - - - - - - -
- - - - - - - - - -
349,479 133,650 502,121 (122,300) 251,593 404,944 (176,954) 412,764 62,770 20,182
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
9,724 205 5,299 150 150 150 150 150 37,872 180
- 240,000 100,000 505,556 - - - - - -
- 47,597 20,950 52,832 - 120,750 - - - -
- 338,508 - - - - - - - -
9,724 626,310 126,249 558,538 150 120,900 150 150 37,872 180
339,755 (492,660) 375,872 (680,838) 251,443 284,044 (177,104) 412,614 24,898 20,002
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
339,755 (492,660) 375,872 (680,838) 251,443 284,044 (177,104) 412,614 24,898 20,002
$ 1,243,184 $ 2,268,439 $ 916,373 $ (3,376,880) $ 257,651 $ 146,107 $ (3,780,028) $ (494,679) $59,840 $ 50,477
CITY OF OSHKOSH, WISCONSIN
Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficits)
Nonmajor Governmental Funds
For the Year Ended December 31, 2024
With Summarized Information From December 31, 2023
Capital Projects Funds
TIF No. 20 South
Shore
Redevelopment
TIF No. 24
Coat
TIF No. 25 City
Center Hotel
TIF No. 26
Aviation
Business Park
TIF No. 27
North Main
Street Industrial
Park
TIF No. 28 Beach
Building
Redevelopment
TIF No. 29
Morgan District
TIF No. 21 Fox
River Corridor
TIF No. 23 SW
Industrial Park
Expansion
TIF No. 19 NW
Industrial
Expansion
83
REVENUES
Taxes
Special Assessments
Intergovernmental
Licenses and Permits
Charges for Services
Investment Earnings (Loss)
Donations
Miscellaneous
Total Revenues
EXPENDITURES
Current:
General Government
Public Safety
Public Works
Health and Human Services
Culture and Recreation
Conservation and Development
Debt Service
Principal
Interest
Capital Outlay
Total Expenditures
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USE)
Proceeds of Long-Term Debt
Transfers In
Transfers Out
Total Other Financing Sources (Use)
NET CHANGE IN FUND BALANCES
Error Correction
FUND BALANCES (DEFICITS) - ENDING
$ 16,356 $ 67,271 $1,544 $80,715 $242 $ 764,865 $ 34,604 $ 25,145 $ 14,777 $4,002
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
4,943 28,738 788 26,913 41,926 111,893 14,393 11,258 840 3,453
- - - - - - - - - -
- - - - - - - - - -
21,299 96,009 2,332 107,628 42,168 876,758 48,997 36,403 15,617 7,455
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
150 93,969 150 150 150 150 150 150 150 150
- 9,312 - - - - - - - -
- 3,942 - - - - - - - -
- - - - - - - - - -
150 107,223 150 150 150 150 150 150 150 150
21,149 (11,214) 2,182 107,478 42,018 876,608 48,847 36,253 15,467 7,305
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
- - - - - - - - - -
21,149 (11,214) 2,182 107,478 42,018 876,608 48,847 36,253 15,467 7,305
$ 73,665 $ 37,010 $7,419 $389,499 $ (10,803) $ 2,416,917 $ 64,577 $ 65,186 $ 16,105 $ 46,672
Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficits)
Nonmajor Governmental Funds
For the Year Ended December 31, 2024
With Summarized Information From December 31, 2023
CITY OF OSHKOSH, WISCONSIN
Capital Projects Funds
TIF No. 31
Buckstaff
Redevelopment
School
Redevelopment
TIF No. 33 Lamico
Redevelopment
TIF No. 34
Oshkosh Corp
Headquarters
TIF No. 35
Oshkosh Ave
Corridor
TIF No. 37
Aviation Plaza Redevelopment
TIF No. 32 Granary
Redevelopment
TIF No. 30
Washington
Building
TIF No. 36 Merge
Redevelopment
84
REVENUES
Taxes
Special Assessments
Intergovernmental
Licenses and Permits
Charges for Services
Investment Earnings (Loss)
Donations
Miscellaneous
Total Revenues
EXPENDITURES
Current:
General Government
Public Safety
Public Works
Health and Human Services
Culture and Recreation
Conservation and Development
Debt Service
Principal
Interest
Capital Outlay
Total Expenditures
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES
OTHER FINANCING SOURCES (USE)
Proceeds of Long-Term Debt
Transfers In
Transfers Out
Total Other Financing Sources (Use)
NET CHANGE IN FUND BALANCES
Error Correction
FUND BALANCES (DEFICITS) - ENDING
$2,336 $2 $424 $11 $- $- $ 5,535,674 $ 13,076,074 $ 11,223,792
- - - - - - - 194,508 140,610
- - - - - - 265,980 13,750,480 5,949,181
- - - - - - - 76,235 60,291
- - - - - - 6,680 1,791,594 1,859,203
288 (118) - (2,987) - 66 635,694 1,883,721 1,064,846
- - - - - - 18,460 766,894 665,475
- - - - - 41,689 3,371,438 4,081,261 812,279
2,624 (116) 424 (2,976) - 41,755 9,833,926 35,620,767 21,775,677
- - - - - - - 1,522,598 -
- - - - - - - 3,472,905 219,401
- - - - - - 12,672 5,208,954 5,066,147
- - - - - - 1,961 1,164,388 1,107,916
- - - - - - 44,816 8,363,400 8,601,014
150 150 150 180 1,000 - 736,231 6,078,555 4,366,508
- - - - - - 1,274,868 1,274,868 1,912,610
- - - - - - 298,931 298,931 245,363
- - - - - - 9,035,643 9,512,888 13,944,727
150 150 150 180 1,000 - 11,405,122 36,897,487 35,463,686
2,474 (266) 274 (3,156) (1,000) 41,755 (1,571,196) (1,276,720) (13,688,009)
- - - - - - 12,315,600 12,315,600 1,339,287
- - - - - - - 486,213 7,730,959
- - - - - - - (261,099) (4,859)
- - - - - - 12,315,600 12,540,714 9,065,387
2,474 (266) 274 (3,156) (1,000) 41,755 10,744,404 11,263,994 (4,622,622)
$(10,743) $ (11,195) $ (2,701) $ (65,375) $ (1,000) $ 41,755 $ 22,657,177 $ 40,448,815 $ 29,184,821
CITY OF OSHKOSH, WISCONSIN
Combining Statement of Revenues, Expenditures and Changes in Fund Balances (Deficits)
Nonmajor Governmental Funds
For the Year Ended December 31, 2024
With Summarized Information From December 31, 2023
Total Nonmajor Funds
2024
Total Nonmajor
Capital Projects
Funds
Capital Projects Funds
TIF Reserve
Fund
TIF No. 44 NW
Oshkosh
Expansion
TIF No. 43 Mill
on Main
TIF No. 42
Morgan
Crossing
TIF No. 40 Miles
Kimball
Redevelopment
TIF No. 41 Smith
School
Redevelopment
85
THIS PAGE LEFT BLANK INTENTIONALLY
ASSETS
Current Assets:
Cash and Investments $ 140,467 $ 1,594,863 $-
Accounts Receivable - 230,904 -
Special Assessments - - -
Other Receivables - - -
Due from Other Funds - - -
Prepaid Items 13,850 310 -
Total Current Assets 154,317 1,826,077 -
Noncurrent Assets:
Assets Held for Resale - - 4,447,936
Land 1,817,234 3,217,183 -
Buildings and Improvements - 8,914,150 -
Infrastructure 3,447,323 - -
Machinery and Equipment 10,291 1,582,082 -
Accumulated Depreciation (2,411,005) (4,083,231) -
Total Noncurrent Assets 2,863,843 9,630,184 4,447,936
TOTAL ASSETS 3,018,160 11,456,261 4,447,936
DEFERRED OUTFLOWS OF RESOURCES
Deferred Outflows of Resources Related to Pension 16,332 - -
Deferred Outflows of Resources Related to
Other Post-Employment Benefits 3,465 11,651 -
Total Deferred Outflows of Resources 19,797 11,651 -
CURRENT LIABILITIES
Accounts Payable 615 224,381 2,000
Accrued Interest 158 23,852 2,558
Due to Other Funds - - 1,430,771
Deposits from Others - 5,000 -
Unearned Revenue - - -
Current Portion of Other Post-Employment Benefits Liability 244 676 -
Current Portion of Compensated Absences 306 - -
Current Portion of Long-Term Obligations - 211,923 35,000
Total Current Liabilities 1,323 465,832 1,470,329
NONCURRENT LIABILITIES
Net Pension Liability 1,831 - -
Noncurrent Portion of Other Post-Employment Benefits Liability 4,921 16,687 -
Noncurrent Portion of Compensated Absences 1,223 - -
Noncurrent Portion of Long-Term Obligations 25,000 452,886 80,000
Total Noncurrent Liabilities 32,975 469,573 80,000
TOTAL LIABILITIES 34,298 935,405 1,550,329
DEFERRED INFLOWS OF RESOURCES
Deferred Inflows of Resources Related to Pension 9,828 - -
Deferred Inflows of Resources Related to
Other Post-Employment Benefits 4,275 14,374 -
Total Deferred Inflows of Resources 14,103 14,374 -
NET POSITION
Net Investment in Capital Assets 2,838,843 8,965,375 -
Restricted 4,673 - -
Unrestricted 146,040 1,552,758 2,897,607
TOTAL NET POSITION
Parking Utility
Oshkosh
Convention
Center
CITY OF OSHKOSH, WISCONSIN
Combining Statement of Net Position
Nonmajor Enterprise Funds
As of December 31, 2024
With Summarized Information from December 31, 2023
Industrial Park
Land
86
$ 1,562,301 $ 3,297,631 $ 2,671,569
10,176 241,080 296,422
33,404 33,404 -
- - 30,738
1,430,771 1,430,771 1,341,845
6,837 20,997 15,283
3,043,489 5,023,883 4,355,857
- 4,447,936 4,447,936
- 5,034,417 5,034,417
- 8,914,150 8,784,902
- 3,447,323 3,447,323
132,684 1,725,057 1,721,177
(13,268) (6,507,504) (6,186,251)
119,416 17,061,379 17,249,504
3,162,905 22,085,262 21,605,361
452,530 468,862 624,987
92,321 107,437 119,424
544,851 576,299 744,411
1,419 228,415 450,726
- 26,568 31,642
- 1,430,771 1,341,845
- 5,000 5,000
840 840 528
4,438 5,358 4,794
17,450 17,756 16,232
- 246,923 237,695
24,147 1,961,631 2,088,462
50,742 52,573 166,885
158,426 180,034 191,020
69,800 71,023 64,930
- 557,886 804,809
278,968 861,516 1,227,644
303,115 2,823,147 3,316,106
272,327 282,155 350,387
113,626 132,275 122,945
385,953 414,430 473,332
119,416 11,923,634 11,909,064
129,461 134,134 107,715
2,769,811 7,366,216 6,543,555
Inspection
Services 2024 2023
Totals
87
OPERATING REVENUES
Charges for Services $ 97,171 $- $-
Room Tax - 2,555,474 -
Fines, Forfeitures and Penalties 41,636 - -
Other Operating Revenues - 108,454 11,083
Total Operating Revenues 138,807 2,663,928 11,083
OPERATING EXPENSES
Operation and Maintenance 85,511 2,024,877 27,276
Depreciation 125,793 182,192 -
Total Operating Expenses 211,304 2,207,069 27,276
OPERATING INCOME (LOSS)(72,497) 456,859 (16,193)
NONOPERATING REVENUES (EXPENSES)
Gain on Disposal of Capital Assets - - 25,000
Investment Earnings (Loss)5,057 58,862 (65,534)
Interest Expense (2,065) (31,873) (4,397)
Miscellaneous - - 5,000
Total Nonoperating Revenues (Expenses)2,992 26,989 (39,931)
CHANGE IN NET POSITION (69,505) 483,848 (56,124)
NET POSITION - BEGINNING, AS PREVIOUSLY REPORTED 3,059,061 10,034,285 2,953,731
Error Correction - - -
Change in Accounting Principle - - -
NET POSITION - BEGINNING, AS ADJUSTED 3,059,061 10,034,285 2,953,731
NET POSITION - ENDING
CITY OF OSHKOSH, WISCONSIN
Combining Statement of Revenues, Expenses and Changes in Net Position
Nonmajor Enterprise Funds
For the Year Ended December 31, 2024
With Summarized Information from December 31, 2023
Parking Utility
Oshkosh
Convention
Center
Industrial Park
Land
88
$ 1,439,596 $ 1,536,767 $ 1,365,093
- 2,555,474 2,530,104
- 41,636 7,355
- 119,537 128,793
1,439,596 4,253,414 4,031,345
1,053,200 3,190,864 3,167,594
13,268 321,253 320,462
1,066,468 3,512,117 3,488,056
373,128 741,297 543,289
- 25,000 500
132,303 130,688 85,354
- (38,335) (57,929)
- 5,000 -
132,303 122,353 27,925
505,431 863,650 571,214
2,380,573 18,427,650 18,015,500
132,684 132,684 -
- - (26,380)
2,513,257 18,560,334 17,989,120
2024 2023
Totals
Inspection
Services
89
CASH FLOWS FROM OPERATING ACTIVITIES
Cash Received from Customers $ 138,807 $ 2,716,617 $ 11,083
Cash Paid To Suppliers (32,022) (2,149,517) (27,276)
Cash Paid to Employees For Wages and Benefits (53,289) (97,499) -
Net Cash Flows From Operating Activities
CASH FLOWS FROM NON-CAPITAL
FINANCING ACTIVITIES
Due to/from Other Funds - - 93,926
CASH FLOWS FROM CAPITAL AND RELATED
FINANCING ACTIVITIES
Acquisition of Capital Assets - (133,128) -
Sale of Capital Assets - - 25,000
Principal Payments on Long-Term Debt - (202,695) (35,000)
Interest and Fiscal Charges (2,065) (39,145) (2,199)
Net Cash Flows From Capital and
Related Financing Activities (2,065) (374,968) (12,199)
CASH FLOWS FROM INVESTING ACTIVITIES
Investment Earnings (Loss) 5,057 58,862 (65,534)
140,467 1,594,863 -
RECONCILIATION OF CASH ACCOUNTS
Cash and Investments $ 140,467 1,594,863 -
RECONCILIATION OF OPERATING INCOME (LOSS)
TO NET CASH FLOWS FROM OPERATING ACTIVITIES
Operating Income (Loss)$ (72,497) $ 456,859 $ (16,193)
Adjustments to Reconcile Operating Income (Loss)
to Net Cash Flows from Operating Activities:
Depreciation 125,793 182,192 -
Changes in Assets and Liabilities:
Accounts Receivable - 52,689 -
Other Receivables - - -
Prepaid Items 1,433 (310) -
Accounts Payable 134 (222,991) -
Unearned Revenue - - -
Compensated Absences (1,039) - -
Net Pension Asset - - -
Net Pension Liability (6,213) - -
Deferred Outflows Related to Pension 13,793 - -
Deferred Inflows Related to Pension (7,061) - -
OPEB Liability (1,957) (2,395) -
Deferred Outflows Related to OPEB 1,188 1,259 -
Deferred Inflows Related to OPEB (78) 2,298 -
Net Cash Flows From
$53,496 $469,601 $(16,193)
CITY OF OSHKOSH, WISCONSIN
Combining Statement of Cash Flows
Nonmajor Enterprise Funds
For the Year Ended December 31, 2024
With Summarized Information from December 31, 2023
CHANGE IN CASH AND INVESTMENTS
CASH AND INVESTMENTS - BEGINNING
Industrial Park
LandParking Utility
Oshkosh
Convention
Center
CASH AND INVESTMENTS - ENDING
90
$ 1,439,583 $ 4,306,090 $
(91,408) (2,300,223) (2,204,889)
(975,473) (1,126,261) (984,958)
(88,926) 5,000
- (133,128) (520,790)
- 25,000
- (237,695) (229,069)
- (43,409) (55,123)
- (389,232) (804,482)
132,303 130,688
1,562,301 3,297,631
1,562,301 3,297,631
$ 373,128 $ 741,297 $ 543,289
13,268 321,253 320,462
2,653 55,342 (36,859)
(2,666) (2,666) (30,738)
(6,837) (5,714) 1,433
546 (222,311) (111,452)
312 312 210
8,656 7,617 6,950
- - 311,507
(108,099) (114,312) 166,885
142,332 156,125 (15,768)
(61,171) (68,232) (382,972)
(6,070) (10,422) (52,462)
9,540 11,987 30,246
7,110 9,330 23,170
2023
Totals
Inspection
Services 2024
91
ASSETS
Current Assets:
Cash and Investments 6,068,161 674,190 - 6,742,351 5,736,256
Accounts Receivable 159,651 - 10,128 169,779 12,046
Due from Other Funds 1,735,830 - - 1,735,830 1,668,399
Prepaid Items - 75,000 - 75,000 75,000
Inventories - - 487,677 487,677 497,331
Total Current Assets 7,963,642 749,190 497,805 9,210,637 7,989,032
DEFERRED OUTFLOWS OF RESOURCES
Deferred Outflows of Resources Related to Pension - 108,508 1,570,027 1,678,535 2,456,392
Deferred Outflows of Resources Related
to Other Post-Employment Benefits - 17,408 385,149 402,557 407,630
Total Deferred Outflows of Resources - 125,916 1,955,176 2,081,092 2,864,022
CURRENT LIABILITIES
Accounts and Claims Payable 2,097,372 107,642 233,062 2,438,076 2,321,631
Due to Other Funds - - 1,735,830 1,735,830 1,668,399
Current Other Post-Employment Benefits Liability - 212 17,588 17,800 15,926
Total Current Liabilities 2,097,372 107,854 1,986,480 4,191,706 4,005,956
NONCURRENT LIABILITIES
Net Pension Liability - 12,167 176,046 188,213 655,907
Other Post-Employment Benefits Liability - 40,947 640,557 681,504 659,550
Total Noncurrent Liabilities - 53,114 816,603 869,717 1,315,457
TOTAL LIABILITIES 2,097,372 160,968 2,803,083 5,061,423 5,321,413
DEFERRED INFLOWS OF RESOURCES
Deferred Inflows of Resources Related to Pension - 65,299 944,821 1,010,120 1,377,127
Deferred Inflows of Resources Related
to Other Post-Employment Benefits - 21,313 474,254 495,567 425,767
Total Deferred Inflows of Resources - 86,612 1,419,075 1,505,687 1,802,894
NET POSITION
Unrestricted (Deficit)$5,866,270 $627,526 $(1,769,177) $4,724,619 $3,728,747
2023
TotalsHealth
Insurance
Worker's
Compensation 2024
Field
Operations
CITY OF OSHKOSH, WISCONSIN
With Summarized Information from December 31, 2023
As of December 31, 2024
Internal Service Funds
Combining Statement of Net Position (Deficit)
92
OPERATING REVENUES
Charges for Services $ 11,571,485 $ 985,200 $ 5,694,787 $ 18,251,472 $ 18,045,223
Other Operating Revenues 1,636,874 - - 1,636,874 1,502,352
Total Operating Revenues 13,208,359 985,200 5,694,787 19,888,346 19,547,575
OPERATING EXPENSES
Operation and Maintenance - - 5,983,239 5,983,239 6,196,164
Claims and Administration 11,909,048 1,000,187 - 12,909,235 12,056,659
Total Operating Expenses 11,909,048 1,000,187 5,983,239 18,892,474 18,252,823
CHANGE IN NET POSITION 1,299,311 (14,987) (288,452) 995,872 1,294,752
NET POSITION (DEFICIT) - BEGINNING 4,566,959 642,513 (1,480,725) 3,728,747 2,433,995
NET POSITION (DEFICIT) - ENDING
2023
Worker's
Compensation
Health
Insurance
Total
2024
Field
Operations
With Summarized Information from December 31, 2023
For the Year Ended December 31, 2024
Internal Service Funds
Combining Statement of Revenues, Expenses and Changes in Net Position (Deficit)
CITY OF OSHKOSH, WISCONSIN
93
CASH FLOWS FROM OPERATING ACTIVITIES
Cash Received from City $ 13,048,708 $ 985,200 $ 5,696,705 $ 19,730,613 $
Paid to Suppliers for Goods and Services (12,057,268) (799,070) (2,195,190) (15,051,528) (14,627,409)
Cash Paid to Employees For Wages and Benefits - (104,044) (3,568,946) (3,672,990) (3,507,248)
Net Cash Flows From Operating Activities 991,440 82,086 (67,431) 1,006,095 1,425,633
CASH FLOWS FROM NON-CAPITAL
FINANCING ACTIVITIES
Due to/from Other Fund (67,431) - 67,431 - -
6,068,161 674,190 - 6,742,351 5,736,256
RECONCILIATION OF CASH ACCOUNTS
Cash and Investments $ 6,068,161 674,190 - 6,742,351 5,736,256
RECONCILIATION OF OPERATING INCOME (LOSS)
TO NET CASH FLOWS FROM OPERATING ACTIVITIES
Operating Income (Loss)$ 1,299,311 $ (14,987) $ (288,452) $ 995,872 $ 1,294,752
Adjustments to Reconcile Operating Income (Loss)
to Net Cash Flows from Operating Activities:
Changes in Assets and Liabilities:
Accounts Receivable (159,651) - 1,918 (157,733) 12,715
Inventories - - 9,654 9,654 127,964
Deferred Outflows Related to Pension - (61,091) 838,948 777,857 (2,456,392)
Deferred Outflows Related to OPEB - (10,369) 15,442 5,073 (402,588)
Accounts and Claims Payable (148,220) 89,449 175,216 116,445 (274,228)
Net Pension Liability - (494) (467,200) (467,694) 655,907
OPEB Liability - 28,101 (4,273) 23,828 668,342
Deferred Inflows Related to Pension - 38,716 (405,723) (367,007) 1,377,127
Deferred Inflows Related to OPEB - 12,761 57,039 69,800 422,034
Net Cash Flows From
$991,440 $82,086 $(67,431) $1,006,095 $1,425,633
2023
CHANGE IN CASH AND INVESTMENTS
CASH AND INVESTMENTS - BEGINNING
CASH AND INVESTMENTS - ENDING
Health Insurance
Worker's
Compensation
Totals
2024Field Operations
With Summarized Information from December 31, 2023
For the Year Ended December 31, 2024
Internal Service Funds
Combining Statement of Cash Flows
CITY OF OSHKOSH, WISCONSIN
94
REVENUES
Taxes 13,897,400 13,897,400 13,897,400 -
Total Revenues
EXPENDITURES
Principal 11,008,600 11,008,600 11,008,527 73
Interest and Fiscal Charges 3,638,800 3,638,800 3,954,061 (315,261)
Total Expenditures
DEFICIENCY OF REVENUES
UNDER EXPENDITURES
OTHER FINANCING SOURCES (USE)
Debt Premium - - 1,425,137 1,425,137
NET CHANGE IN FUND BALANCE
FUND BALANCE - BEGINNING
FUND BALANCE - ENDING
Favorable
Budget Amounts (Unfavorable)
Original Actual
Final Budget
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Debt Service
For the Year Ended December 31, 2024
Variance
95
REVENUES
Taxes 1,205,500 1,205,500 1,205,500 -
Total Revenues
EXPENDITURES
Capital Outlay 1,205,500 1,707,186 8,218,270 (6,511,084)
Total Expenditures
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES
OTHER FINANCING SOURCES
Proceeds from Long-term Debt - - 4,884,400 4,884,400
NET CHANGE IN FUND BALANCE
FUND BALANCE - BEGINNING
FUND BALANCE - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Equipment
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
96
REVENUES
Special Assessments 3,630,300 3,630,300 4,209,262 578,962
EXPENDITURES
Principal 1,050,000 1,050,000 1,050,000 -
Interest and Fiscal Charges 215,000 215,000 214,275 725
Total Expenditures
NET CHANGE IN FUND BALANCE
FUND BALANCE - BEGINNING
FUND BALANCE - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Special Assessment Improvement
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
97
REVENUES
Taxes 393,500 393,500 393,000 (500)
Intergovernmental 106,600 106,600 93,746 (12,854)
Total Revenues
EXPENDITURES
NET CHANGE IN FUND BALANCE
FUND BALANCE - BEGINNING
FUND BALANCE - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Senior Services
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
98
REVENUES
Special Assessments 140,610 140,610 140,610 -
Total Revenues
EXPENDITURES
DEFICIENCY OF REVENUES
UNDER EXPENDITURES
OTHER FINANCING SOURCE
Transfers In - - 50,000 50,000
NET CHANGE IN FUND BALANCE
FUND BALANCE - BEGINNING
FUND BALANCE - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Business Improvement District
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
99
REVENUES
Intergovernmental $237,000 $237,000 $237,193 $193
Charges for Services 16,683
Investment Earnings 169,773
Miscellaneous (18,930)
Total Revenues 1,138,000 1,138,000 1,305,719 167,719
EXPENDITURES
(161,395)
Capital Outlay 255,000 255,000 - 255,000
Total Expenditures 1,113,723 1,113,723 1,020,118 93,605
NET CHANGE IN FUND BALANCE 24,277 24,277 285,601 261,324
FUND BALANCE - BEGINNING 2,929,300 2,929,300 2,929,300 -
FUND BALANCE - ENDING $ 2,953,577 $ 2,953,577 $ 3,214,901 $ 261,324
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Recycling
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
100
REVENUES
Taxes $1,060,300 $1,060,300 $1,060,300 $-
Investment Earnings 39,558
Miscellaneous 2,380
Total Revenues 1,060,300 1,060,300 1,102,238 41,938
EXPENDITURES
62,277
NET CHANGE IN FUND BALANCE - (30,576) 73,639 104,215
FUND BALANCE - BEGINNING 223,220 223,220 223,220 -
FUND BALANCE - ENDING $ 223,220 $ 192,644 $ 296,859 $ 104,215
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Street Lighting
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
101
REVENUES
Taxes $2,876,500 $2,876,500 $2,876,500 $-
Intergovernmental 959,036 959,036 797,246 (161,790)
Charges for Services (35,232)
Investment Earnings 82,668
Total Revenues 4,080,036 4,080,036 3,965,682 (114,354)
EXPENDITURES
Culture and Recreation (62,961)
NET CHANGE IN FUND BALANCE 63 63 (177,252) (177,315)
FUND BALANCE - BEGINNING 228,655 228,655 228,655 -
FUND BALANCE - ENDING $ 228,718 $ 228,718 $ 51,403 $ (177,315)
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Library
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
102
REVENUES
Taxes $1,029,100 $1,029,100 $1,029,100 $-
Intergovernmental - - 5,000 5,000
Charges for Services 30,000 30,000 30,038 38
Investment Earnings 12,000 12,000 145,656 133,656
Miscellaneous 81,500 81,500 151,537 70,037
Total Revenues 1,152,600 1,152,600 1,361,331 208,731
EXPENDITURES
Culture and Recreation 1,399,943 1,423,350 1,271,701 151,649
Capital Outlay 4,000 4,000 1,527 2,473
Total Expenditures 1,403,943 1,427,350 1,273,228 154,122
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES (251,343) (274,750) 88,103 362,853
OTHER FINANCING SOURCE
Transfers In 85,400 172,289 89,166 (83,123)
NET CHANGE IN FUND BALANCE (165,943) (102,461) 177,269 279,730
FUND BALANCE - BEGINNING 1,546,559 1,546,559 1,546,559 -
FUND BALANCE - ENDING $1,380,616 $1,444,098 $1,723,828 $279,730
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Museum
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
103
REVENUES
Taxes $328,500 $328,500 $328,500 $-
Charges for Services (27,054)
Investment Earnings 22,512
Miscellaneous (702)
Total Revenues 453,400 453,400 448,156 (5,244)
EXPENDITURES
76,284
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES (69,276) (69,276) 1,764 71,040
OTHER FINANCING SOURCE
Transfers In 70,020 70,020 70,020 -
NET CHANGE IN FUND BALANCE 744 744 71,784 71,040
FUND BALANCE - BEGINNING 324,220 324,220 324,220 -
FUND BALANCE - ENDING $ 324,964 $ 324,964 $ 396,004 $ 71,040
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Cemetery
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
104
REVENUES
Intergovernmental $807,095 $807,095 $1,309,221 $ 502,126
Investment Earnings (Loss)6,395
Miscellaneous (89,971)
Total Revenues 1,057,095 1,057,095 1,475,645 418,550
EXPENDITURES
(817,100)
NET CHANGE IN FUND BALANCE 403,345 409,037 10,487 (398,550)
FUND BALANCE - BEGINNING 4,343,662 4,343,662 4,343,662 -
FUND BALANCE - ENDING $ 4,747,007 $ 4,752,699 $ 4,354,149 $ (398,550)
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Community Development Block Grant
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
105
REVENUES
Investment Earnings $$$$ 11,291
EXPENDITURES
218,100
NET CHANGE IN FUND BALANCE (218,100) (218,100) 11,291 229,391
FUND BALANCE - BEGINNING 278,898 278,898 278,898 -
FUND BALANCE - ENDING $ 60,798 $ 60,798 $ 290,189 $ 229,391
Budget Final Budget Amounts (Unfavorable)
Original Actual Favorable
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Neighborhood Improvement Loan Program
For the Year Ended December 31, 2024
Variance
106
REVENUES
Investment Earnings $$$$ 44,529
Miscellaneous 10,551
Total Revenues - - 55,080 55,080
EXPENDITURES
236,858
NET CHANGE IN FUND BALANCE (450,000) (450,000) 53,037 503,037
FUND BALANCE - BEGINNING 2,020,547 2,020,547 2,020,547 -
FUND BALANCE - ENDING $ 1,570,547 $ 1,570,547 $ 2,073,584 $ 503,037
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Local Revolving Loan Program
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
107
REVENUES
Intergovernmental $3,000 $3,000 $- $ (3,000)
Investment Earnings 9,271
Miscellaneous 2,780
Total Revenues 64,000 64,000 73,051 9,051
EXPENDITURES
21,056
Capital Outlay 7,000 7,000 6,730 270
Total Expenditures 63,900 63,018 41,692 21,326
NET CHANGE IN FUND BALANCE 100 982 31,359 30,377
FUND BALANCE - BEGINNING 173,223 173,223 173,223 -
FUND BALANCE - ENDING $ 173,323 $ 174,205 $ 204,582 $ 30,377
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Senior Services Revolving Loans
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
108
REVENUES
Intergovernmental $18,100 $18,100 $179,705 $ 161,605
Investment Earnings 23,050
Miscellaneous 50,389
Total Revenues 91,500 91,500 326,544 235,044
EXPENDITURES
93,776
Capital Outlay - - 25,000 (25,000)
Total Expenditures 99,000 207,937 139,161 68,776
NET CHANGE IN FUND BALANCE (7,500) (116,437) 187,383 303,820
FUND BALANCE - BEGINNING 298,049 298,049 298,049 -
FUND BALANCE - ENDING $ 290,549 $ 181,612 $ 485,432 $ 303,820
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Police Special
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
109
REVENUES
Intergovernmental $74,500 $74,500 $164,155 $ 89,655
Charges for Services 5,035
Investment Earnings 22,401
Miscellaneous 2,500
Total Revenues 74,500 74,500 194,091 119,591
EXPENDITURES
(152,022)
Capital Outlay 36,200 36,200 8,905 27,295
Total Expenditures 170,309 189,529 314,256 (124,727)
NET CHANGE IN FUND BALANCE (95,809) (115,029) (79,237) 35,792
FUND BALANCE - BEGINNING 408,608 408,608 408,608 -
FUND BALANCE - ENDING $ 312,799 $ 293,579 $ 329,371 $ 35,792
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Fire Special
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
110
REVENUES
Charges for Services $$$$ (44,770)
Investment Earnings 32,912
Miscellaneous (12,282)
Total Revenues 381,500 381,500 357,360 (24,140)
EXPENDITURES
Culture and Recreation 82,193
Capital Outlay 6,800 6,800 - 6,800
Total Expenditures 381,456 380,225 291,232 88,993
NET CHANGE IN FUND BALANCE 44 1,275 66,128 64,853
FUND BALANCE - BEGINNING 686,863 686,863 686,863 -
FUND BALANCE - ENDING $ 686,907 $ 688,138 $ 752,991 $ 64,853
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Park Revenue Facilities
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
111
REVENUES
Taxes $23,000 $23,000 $23,000 $-
Charges for Services 4,120
Investment Earnings 5,303
Miscellaneous (4,271)
Total Revenues 78,500 78,500 83,652 5,152
EXPENDITURES
Culture and Recreation 10,353
EXCESS (DEFICIENCY) OF REVENUES
OVER (UNDER) EXPENDITURES (22,972) (22,972) (7,467) 15,505
OTHER FINANCING SOURCE
Transfers In 25,000 25,000 25,000 -
NET CHANGE IN FUND BALANCE 2,028 2,028 17,533 15,505
FUND BALANCE - BEGINNING 96,802 96,802 96,802 -
FUND BALANCE - ENDING $ 98,830 $ 98,830 $ 114,335 $ 15,505
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Leach Amphitheater
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
112
REVENUES
Special Assessments $- $- $53,898 $ 53,898
Intergovernmental 500,000 500,000 - (500,000)
Licenses and Permits 130,000 130,000 76,235 (53,765)
Investment Earnings (Loss)(3,402)
Total Revenues 630,000 630,000 126,731 (503,269)
EXPENDITURES
335,758
NET CHANGE IN FUND BALANCE 2,249 3,349 (164,162) (167,511)
FUND BALANCE (DEFICIT) - BEGINNING (41,332) (41,332) (41,332) -
FUND BALANCE (DEFICIT) - ENDING $ (39,083) $ (37,983) $ (205,494) $ (167,511)
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance (Deficit)
Budget to Actual - Public Works Special
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
113
REVENUES
Taxes $1,730,000 $1,730,000 $1,730,000 $-
Charges for Services (248)
Investment Earnings 40,671
Total Revenues 1,805,000 1,805,000 1,835,423 30,423
EXPENDITURES
(98,996)
NET CHANGE IN FUND BALANCE 4,726 2,409 (66,164) (68,573)
FUND BALANCE (DEFICIT) - BEGINNING (45,795) (45,795) (45,795) -
FUND BALANCE (DEFICIT) - ENDING $ (41,069) $ (43,386) $ (111,959) $ (68,573)
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance (Deficit)
Budget to Actual - Garbage Collection and Disposal
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
114
REVENUES
Taxes $100,000 $100,000 $100,000 $-
Charges for Services (1,986)
Miscellaneous (172,438)
Total Revenues 892,400 892,400 717,976 (174,424)
EXPENDITURES
Culture and Recreation 21,187
Capital Outlay 370,000 370,000 435,083 (65,083)
Total Expenditures 881,395 878,440 922,336 (43,896)
NET CHANGE IN FUND BALANCE (DEFICIT)11,005 13,960 (204,360) (218,320)
FUND BALANCE - BEGINNING 78,600 78,600 78,600 -
FUND BALANCE (DEFICIT) - ENDING $ 89,605 $ 92,560 $ (125,760) $ (218,320)
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance (Deficit)
Budget to Actual - Pollock Water Park
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
115
REVENUES
Interest Earnings $$$$ 125,908
Miscellaneous 107,328
Total Revenues 60,000 60,000 293,236 233,236
EXPENDITURES
176,394
NET CHANGE IN FUND BALANCE (638,689) (638,459) (228,829) 409,630
FUND BALANCE - BEGINNING 2,699,098 2,699,098 2,699,098 -
FUND BALANCE - ENDING $ 2,060,409 $ 2,060,639 $ 2,470,269 $ 409,630
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Healthy Neighborhood Initiative
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
116
REVENUES
Intergovernmental 25,000 25,000 - (25,000)
Total Revenues
EXPENDITURES
NET CHANGE IN FUND BALANCE (DEFICIT)
FUND BALANCE - BEGINNING
FUND BALANCE (DEFICIT) - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance (Deficit)
Budget to Actual - Street Tree Memorial
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
117
REVENUES
Investment Income $- $- $6,130 $6,130
Miscellaneous - - 2 2
Total Revenues - - 6,132 6,132
EXPENDITURES
Health and Human Services 3,000 3,000 1,961
NET CHANGE IN FUND BALANCE (3,000) (3,000) 4,171 7,171
FUND BALANCE - BEGINNING 125,237 125,237 125,237 -
FUND BALANCE - ENDING $122,237 $122,237 $129,408 $7,171
Budget Final Budget Amounts (Unfavorable)
Original Actual Favorable
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Senior Center
For the Year Ended December 31, 2024
Variance
118
REVENUES
Taxes $36,900 $36,900 $36,900 $-
Investment Earnings (Loss)(7,437)
Miscellaneous 1
Total Revenues 36,900 36,900 29,464 (7,436)
EXPENDITURES
Culture and Recreation 4,118
Capital Outlay - - 6,500 (6,500)
Total Expenditures 36,900 46,216 48,598 (2,382)
NET CHANGE IN FUND BALANCE - (9,316) (19,134) (9,818)
FUND BALANCE (DEFICIT) - BEGINNING (130,850) (130,850) (130,850) -
FUND BALANCE (DEFICIT) - ENDING $ (130,850) $ (140,166) $ (149,984) $ (9,818)
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance (Deficit)
Budget to Actual - Grand Opera House
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
119
REVENUES
Investment Income $$$$ 25,646
Miscellaneous (59,881)
Total Revenues 110,000 110,000 75,765 (34,235)
EXPENDITURES
9,328
Capital Outlay 300,000 346,762 139,522 207,240
Total Expenditures 322,000 368,762 152,194 216,568
NET CHANGE IN FUND BALANCE (212,000) (258,762) (76,429) 182,333
FUND BALANCE - BEGINNING 546,308 546,308 546,308 -
FUND BALANCE - ENDING $ 334,308 $ 287,546 $ 469,879 $ 182,333
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - Parking Ramp Improvements
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
120
REVENUES
Investment Income $$$$ 1,344
EXPENDITURES
Debt Service:
Principal 5,000 5,000 5,000 -
Interest and Fiscal Charges 435 435 435 -
Total Expenditures 5,435 5,435 5,435 -
NET CHANGE IN FUND BALANCE (5,435) (5,435) (4,091) 1,344
FUND BALANCE - BEGINNING 28,964 28,964 28,964 -
FUND BALANCE - ENDING $ 23,529 $ 23,529 $ 24,873 $ 1,344
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - TIF No. 8 S Aviation Industrial
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
121
REVENUES
Taxes $150,000 $150,000 $153,637 $ 3,637
Intergovernmental 1,600 1,600 1,953 353
Investment Income 46,638
Total Revenues 151,600 151,600 202,228 50,628
EXPENDITURES
433
NET CHANGE IN FUND BALANCE 1,340 1,340 52,401 51,061
FUND BALANCE - BEGINNING 807,748 807,748 807,748 -
FUND BALANCE - ENDING $ 809,088 $ 809,088 $ 860,149 $ 51,061
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - TIF No. 12 Division Street
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
122
REVENUES
Taxes $350,000 $350,000 $348,390 $ (1,610)
Intergovernmental 9,100 9,100 10,112 1,012
Investment Income (12,300)
Total Revenues 359,100 359,100 346,202 (12,898)
EXPENDITURES
1,940
Debt Service:
Principal 75,000 75,000 75,000 -
Interest and Fiscal Charges 4,300 4,300 4,275 25
Total Expenditures 81,500 81,500 79,535 1,965
NET CHANGE IN FUND BALANCE 277,600 277,600 266,667 (10,933)
FUND BALANCE (DEFICIT) - BEGINNING (587,190) (587,190) (587,190) -
FUND BALANCE (DEFICIT) - ENDING $ (309,590) $ (309,590) $ (320,523) $ (10,933)
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance (Deficit)
Budget to Actual - TIF No. 13 Marion Road/ Pearl Avenue
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
123
REVENUES
Taxes $585,000 $585,000 $269,971 $ (315,029)
Intergovernmental 115 115 112 (3)
Investment Income 50,221
Total Revenues 585,115 585,115 320,304 (264,811)
EXPENDITURES
46,466
NET CHANGE IN FUND BALANCE 464,915 464,915 246,570 (218,345)
FUND BALANCE - BEGINNING 1,039,261 1,039,261 1,039,261 -
FUND BALANCE - ENDING $ 1,504,176 $ 1,504,176 $ 1,285,831 $ (218,345)
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - TIF No. 14 Mercy Medical Center
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
124
REVENUES
Taxes $220,000 $220,000 $218,768 $ (1,232)
Intergovernmental 40,000 40,000 47,573 7,573
Investment Income 162,850
Total Revenues 260,000 260,000 429,191 169,191
EXPENDITURES
330
NET CHANGE IN FUND BALANCE 129,800 129,800 299,321 169,521
FUND BALANCE - BEGINNING 3,085,646 3,085,646 3,085,646 -
FUND BALANCE - ENDING $ 3,215,446 $ 3,215,446 $ 3,384,967 $ 169,521
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - TIF No. 15 Park Plaza/Commerce Street
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
125
REVENUES
Taxes $150,000 $150,000 $152,264 $ 2,264
Intergovernmental 600 600 564 (36)
Investment Income 36,241
Total Revenues 150,600 150,600 189,069 38,469
EXPENDITURES
85,050
NET CHANGE IN FUND BALANCE 65,400 65,400 188,919 123,519
FUND BALANCE - BEGINNING 639,430 639,430 639,430 -
FUND BALANCE - ENDING $ 704,830 $ 704,830 $ 828,349 $ 123,519
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - TIF No. 16 100 Block Redevelopment
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
126
REVENUES
Taxes $315,000 $315,000 $322,441 $ 7,441
Intergovernmental 53,000 53,000 52,522 (478)
Investment Income 40,584
Total Revenues 368,000 368,000 415,547 47,547
EXPENDITURES
50
Debt Service:
Principal 300,000 300,000 300,000 -
Interest and Fiscal Charges 47,000 47,000 46,950 50
Total Expenditures 347,200 347,200 347,100 100
NET CHANGE IN FUND BALANCE 20,800 20,800 68,447 47,647
FUND BALANCE - BEGINNING 573,740 573,740 573,740 -
FUND BALANCE - ENDING $ 594,540 $ 594,540 $ 642,187 $ 47,647
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - TIF No. 17 City Center Redevelopment
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
127
REVENUES
Taxes $523,600 $523,600 $526,143 $ 2,543
Intergovernmental 55,700 55,700 54,240 (1,460)
Investment Income 20,255
Total Revenues 579,300 579,300 600,638 21,338
EXPENDITURES
50
Debt Service:
Principal 40,000 40,000 40,000 -
Interest and Fiscal Charges 1,200 1,200 1,200 -
Total Expenditures 41,400 41,400 41,350 50
NET CHANGE IN FUND BALANCE 537,900 537,900 559,288 21,388
FUND BALANCE (DEFICIT) - BEGINNING (126,138) (126,138) (126,138) -
FUND BALANCE (DEFICIT) - ENDING $ 411,762 $ 411,762 $ 433,150 $ 21,388
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance (Deficit)
Budget to Actual - TIF No. 18 SW Industrial Park Expansion
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
128
REVENUES
Taxes $275,000 $275,000 $266,483 $ (8,517)
Intergovernmental 26,000 26,000 25,259 (741)
Investment Income 57,737
Total Revenues 301,000 301,000 349,479 48,479
EXPENDITURES
(9,574)
NET CHANGE IN FUND BALANCE 300,850 300,850 339,755 38,905
FUND BALANCE - BEGINNING 903,429 903,429 903,429 -
FUND BALANCE - ENDING $ 1,204,279 $ 1,204,279 $ 1,243,184 $ 38,905
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - TIF No. 19 NW Industrial Expansion
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
129
REVENUES
Intergovernmental $- $- $1,049 $ 1,049
Investment Income 132,601
Total Revenues - - 133,650 133,650
EXPENDITURES
Current:
(5)
Debt Service:
Principal 240,000 240,000 240,000 -
Interest and Fiscal Charges 45,500 45,500 47,597 (2,097)
Capital Outlay 1,484,294 2,938,409 338,508 2,599,901
Total Expenditures 1,769,994 3,224,109 626,310 2,597,799
NET CHANGE IN FUND BALANCE (1,769,994) (3,224,109) (492,660) 2,731,449
FUND BALANCE - BEGINNING 2,761,099 2,761,099 2,761,099 -
FUND BALANCE - ENDING $ 991,105 $ (463,010) $ 2,268,439 $ 2,731,449
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - TIF No. 20 South Shore Redevelopment
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
130
REVENUES
Taxes $505,000 $505,000 $454,200 $ (50,800)
Intergovernmental - - 485 485
Investment Income 47,436
Total Revenues 505,000 505,000 502,121 (2,879)
EXPENDITURES
Current:
69,901
Debt Service:
Principal 100,000 100,000 100,000 -
Interest and Fiscal Charges 21,000 21,000 20,950 50
Total Expenditures 196,200 196,200 126,249 69,951
NET CHANGE IN FUND BALANCE 308,800 308,800 375,872 67,072
FUND BALANCE - BEGINNING 540,501 540,501 540,501 -
FUND BALANCE - ENDING $ 849,301 $ 849,301 $ 916,373 $ 67,072
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - TIF No. 21 Fox River Corridor
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
131
REVENUES
Taxes $23,500 $23,500 $23,401 $(99)
Investment Income (145,701)
Total Revenues 23,500 23,500 (122,300) (145,800)
EXPENDITURES
Current:
50
Debt Service:
Principal 505,555 505,555 505,556 (1)
Interest and Fiscal Charges 52,831 52,831 52,832 (1)
Total Expenditures 558,586 558,586 558,538 48
NET CHANGE IN FUND BALANCE (535,086) (535,086) (680,838) (145,752)
FUND BALANCE (DEFICIT) - BEGINNING (2,696,042) (2,696,042) (2,696,042) -
FUND BALANCE (DEFICIT) - ENDING $ (3,231,128) $ (3,231,128) $ (3,376,880) $ (145,752)
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance (Deficit)
Budget to Actual - TIF No. 23 SW Industrial Park Expansion
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
132
REVENUES
Taxes $250,000 $250,000 $231,473 $(18,527)
Intergovernmental 10,000 10,000 8,693 (1,307)
Investment Income - - 11,427 11,427
Total Revenues 260,000 260,000 251,593 (8,407)
EXPENDITURES
Conservation and Development 80,200 80,200 150 80,050
NET CHANGE IN FUND BALANCE 179,800 179,800 251,443 71,643
FUND BALANCE - BEGINNING 6,208 6,208 6,208 -
FUND BALANCE - ENDING $186,008 $186,008 $257,651 $71,643
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - TIF No. 24 Oshkosh Corp E-COAT
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
133
REVENUES
Taxes $280,000 $280,000 $282,525 $ 2,525
Intergovernmental 7,000 7,000 7,674 674
Investment Income 114,745
Total Revenues 287,000 287,000 404,944 117,944
EXPENDITURES
-
Debt Service:
Interest and Fiscal Charges - - 120,750 (120,750)
Total Expenditures 150 150 120,900 (120,750)
NET CHANGE IN FUND BALANCE 286,850 286,850 284,044 (2,806)
FUND BALANCE (DEFICIT) - BEGINNING (137,937) (137,937) (137,937) -
FUND BALANCE - ENDING $ 148,913 $ 148,913 $ 146,107 $ (2,806)
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance (Deficit)
Budget to Actual - TIF No. 25 City Center Hotel
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
134
REVENUES
Investment Income $$$$ (176,954)
EXPENDITURES
50
NET CHANGE IN FUND BALANCE (200) (200) (177,104) (176,904)
FUND BALANCE (DEFICIT) - BEGINNING (3,602,924) (3,602,924) (3,602,924) -
FUND BALANCE (DEFICIT) - ENDING $ (3,603,124) $ (3,603,124) $ (3,780,028) $ (176,904)
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance (Deficit)
Budget to Actual - TIF No. 26 Aviation Business Park
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
135
REVENUES
Taxes 220,300 220,300 381,910 161,610
Intergovernmental 26,700 26,700 55,744 29,044
Total Revenues
EXPENDITURES
NET CHANGE IN FUND BALANCE
FUND BALANCE (DEFICIT) - BEGINNING
FUND BALANCE (DEFICIT) - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance (Deficit)
Budget to Actual - TIF No. 27 North Main Street Industrial Park
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
136
REVENUES
Taxes $57,000 $57,000 $58,358 $1,358
Investment Income - - 4,412 4,412
Total Revenues 57,000 57,000 62,770 5,770
EXPENDITURES
Conservation and Development 50,200 50,200 37,872 12,328
NET CHANGE IN FUND BALANCE 6,800 6,800 24,898 18,098
FUND BALANCE - BEGINNING 34,942 34,942 34,942 -
FUND BALANCE - ENDING $41,742 $41,742 $59,840 $18,098
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - TIF No. 28 Beach Building Redevelopment
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
137
REVENUES
Taxes $15,000 $15,000 $17,867 $ 2,867
Investment Income 2,315
Total Revenues 15,000 15,000 20,182 5,182
EXPENDITURES
(30)
NET CHANGE IN FUND BALANCE 14,850 14,850 20,002 5,152
FUND BALANCE - BEGINNING 30,475 30,475 30,475 -
FUND BALANCE - ENDING $ 45,325 $ 45,325 $ 50,477 $ 5,152
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - TIF No. 29 Morgan District
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
138
REVENUES
Taxes $55,000 $55,000 $16,356 $(38,644)
Investment Income - - 4,943 4,943
Total Revenues 55,000 55,000 21,299 (33,701)
EXPENDITURES
Conservation and Development 45,200 45,200 150 45,050
NET CHANGE IN FUND BALANCE 9,800 9,800 21,149 11,349
FUND BALANCE - BEGINNING 52,516 52,516 52,516 -
FUND BALANCE - ENDING $62,316 $62,316 $73,665 $11,349
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - TIF No. 30 Washington Building
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
139
REVENUES
Taxes 555,200 555,200 67,271 (487,929)
Total Revenues
EXPENDITURES
Principal 9,400 9,400 9,312 88
Interest and Fiscal Charges 4,000 4,000 3,942 58
Total Expenditures
NET CHANGE IN FUND BALANCE
FUND BALANCE - BEGINNING
FUND BALANCE - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - TIF No. 31 Buckstaff Redevelopment
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
140
REVENUES
Taxes $15,200 $15,200 $1,544 $ (13,656)
Investment Income 788
Total Revenues 15,200 15,200 2,332 (12,868)
EXPENDITURES
15,050
NET CHANGE IN FUND BALANCE - - 2,182 2,182
FUND BALANCE - BEGINNING 5,237 5,237 5,237 -
FUND BALANCE - ENDING $ 5,237 $ 5,237 $ 7,419 $ 2,182
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - TIF No. 32 Granary Redevelopment
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
141
REVENUES
Taxes $292,400 $292,400 $80,715 $ (211,685)
Investment Income 26,913
Total Revenues 292,400 292,400 107,628 (184,772)
EXPENDITURES
230,050
NET CHANGE IN FUND BALANCE 62,200 62,200 107,478 45,278
FUND BALANCE - BEGINNING 282,021 282,021 282,021 -
FUND BALANCE - ENDING $ 344,221 $ 344,221 $ 389,499 $ 45,278
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - TIF No. 33 Lamico Redevelopment
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
142
REVENUES
Taxes $1,200,000 $1,200,000 $242 $ (1,199,758)
Investment Income 41,926
Total Revenues 1,200,000 1,200,000 42,168 (1,157,832)
EXPENDITURES
1,200,050
NET CHANGE IN FUND BALANCE (200) (200) 42,018 42,218
FUND BALANCE (DEFICIT) - BEGINNING (52,821) (52,821) (52,821) -
FUND BALANCE (DEFICIT) - ENDING $ (53,021) $ (53,021) $ (10,803) $ 42,218
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance (Deficit)
Budget to Actual - TIF No. 34 Oshkosh Corp Headquarters
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
143
REVENUES
Taxes $650,000 650,000 764,865 114,865
Total Revenues
EXPENDITURES
NET CHANGE IN FUND BALANCE
FUND BALANCE - BEGINNING
FUND BALANCE - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - TIF No. 35 Oshkosh Avenue Corridor
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
144
REVENUES
Taxes $322,200 $322,200 $34,604 $ (287,596)
Investment Income 14,393
Total Revenues 322,200 322,200 48,997 (273,203)
EXPENDITURES
300,050
NET CHANGE IN FUND BALANCE 22,000 22,000 48,847 26,847
FUND BALANCE - BEGINNING 15,730 15,730 15,730 -
FUND BALANCE - ENDING $ 37,730 $ 37,730 $ 64,577 $ 26,847
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - TIF No. 36 Merge Redevelopment
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
145
REVENUES
Taxes $235,000 $235,000 $25,145 $(209,855)
Investment Income - - 11,258 11,258
Total Revenues 235,000 235,000 36,403 (198,597)
EXPENDITURES
Conservation and Development 215,200 215,200 150 215,050
NET CHANGE IN FUND BALANCE 19,800 19,800 36,253 16,453
FUND BALANCE - BEGINNING 28,933 28,933 28,933 -
FUND BALANCE - ENDING $48,733 $48,733 $65,186 $16,453
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - TIF No. 37 Aviation Plaza
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
146
REVENUES
Taxes $11,000 $11,000 $14,777 $ 3,777
Investment Income 840
Total Revenues 11,000 11,000 15,617 4,617
EXPENDITURES
50
NET CHANGE IN FUND BALANCE 10,800 10,800 15,467 4,667
FUND BALANCE - BEGINNING 638 638 638 -
FUND BALANCE - ENDING $ 11,438 $ 11,438 $ 16,105 $ 4,667
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - TIF No. 38 Pioneer Redevelopment
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
147
REVENUES
Taxes $25,000 $25,000 $4,002 $ (20,998)
Investment Income 3,453
Total Revenues 25,000 25,000 7,455 (17,545)
EXPENDITURES
NET CHANGE IN FUND BALANCE 800 800 7,305 6,505
FUND BALANCE - BEGINNING 39,367 39,367 39,367 -
FUND BALANCE - ENDING $ 40,167 $ 40,167 $ 46,672 $ 6,505
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance
Budget to Actual - TIF No. 39 Cabrini School Redevelopment
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
148
REVENUES
Taxes $6,000 $6,000 $2,336 $ (3,664)
Investment Income 288
Total Revenues 6,000 6,000 2,624 (3,376)
EXPENDITURES
4,700 4,550
NET CHANGE IN FUND BALANCE 1,300 1,300 2,474 1,174
FUND BALANCE (DEFICIT) - BEGINNING (13,217) (13,217) (13,217) -
FUND BALANCE (DEFICIT) - ENDING $ (11,917) $ (11,917) $ (10,743) $ 1,174
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance (Deficit)
Budget to Actual - TIF No. 40 Miles Kimball Redevelopment
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
149
REVENUES
Taxes $- $- $2 $2
Investment Income (118)
Total Revenues - - (116) (116)
EXPENDITURES
11,050
NET CHANGE IN FUND BALANCE (11,200) (11,200) (266) 10,934
FUND BALANCE (DEFICIT) - BEGINNING (10,929) (10,929) (10,929) -
FUND BALANCE (DEFICIT) - ENDING $ (22,129) $ (22,129) $ (11,195) $ 10,934
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance (Deficit)
Budget to Actual - TIF No. 41 Smith School Redevelopment
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
150
REVENUES
Taxes $- $- $424 $424
EXPENDITURES
50
NET CHANGE IN FUND BALANCE (200) (200) 274 474
FUND BALANCE (DEFICIT) - BEGINNING (2,975) (2,975) (2,975) -
FUND BALANCE (DEFICIT) - ENDING $ (3,175) $ (3,175) $ (2,701) $474
Budget Final Budget Amounts (Unfavorable)
Original Actual Favorable
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance (Deficit)
Budget to Actual - TIF No. 42 Morgan Crossing
For the Year Ended December 31, 2024
Variance
151
REVENUES
Taxes $- $- $11 $11
Investment Income (2,987)
Total Revenues - - (2,976) (2,976)
EXPENDITURES
(30)
NET CHANGE IN FUND BALANCE (150) (150) (3,156) (3,006)
FUND BALANCE (DEFICIT) - BEGINNING (62,219) (62,219) (62,219) -
FUND BALANCE (DEFICIT) - ENDING $ (62,369) $ (62,369) $ (65,375) $ (3,006)
Budget Final Budget Amounts (Unfavorable)
Original Actual Favorable
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenditures and Changes in Fund Balance (Deficit)
Budget to Actual - TIF No. 43 Mill on Main
For the Year Ended December 31, 2024
Variance
152
OPERATING REVENUES
Charges for Services 994,800 994,800 918,564 (76,236)
Other Operating Revenues 43,700 43,700 41,929 (1,771)
Total Operating Revenues
OPERATING EXPENSES
Total Operating Expenses
OPERATING LOSS
NONOPERATING REVENUES (EXPENSE)
General Property Taxes 856,600 856,600 856,600 -
Gain on Disposal of Capital Assets - - 526 526
Nonoperating grants 4,109,300 4,109,300 4,497,871 388,571
Investment Earnings - - 173,885 173,885
Interest Expense (41,400) (41,400) (42,882) (1,482)
Total Nonoperating Revenues (Expense)
NET CHANGE IN NET POSITION
NET POSITION - BEGINNING
NET POSITION - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenses and Changes in Net Position
Budget to Actual - Transit Utility
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
153
OPERATING REVENUES
Charges for Services $18,228,000 18,228,000 19,212,346 984,346
Other Operating Revenues 220,000 220,000 210,673 (9,327)
Total Operating Revenues
OPERATING EXPENSES
Total Operating Expenses
OPERATING INCOME
NONOPERATING REVENUES (EXPENSE)
Gain on Disposal of Capital Assets - - 15,474 15,474
Investment Earnings 203,500 203,500 1,066,818 863,318
Interest Expense (2,155,500) (2,155,500) (1,687,063) 468,437
Total Nonoperating Revenues (Expense)
INCOME BEFORE
CONTRIBUTIONS AND TRANSFERS 631,329 (1,134,442) 5,904,189 7,038,631
TRANSFERS OUT (1,542,600) (1,542,600) (1,502,835)
CAPITAL CONTRIBUTIONS 57,900 57,900 64,691
NET CHANGE IN NET POSITION
NET POSITION - BEGINNING
NET POSITION - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenses and Changes in Net Position
Budget to Actual - Water Utility
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
154
OPERATING REVENUES
Charges for Services 18,149,800 18,149,800 20,431,633 2,281,833
Other Operating Revenues 10,000 10,000 4,002 (5,998)
Total Operating Revenues
OPERATING EXPENSES
Total Operating Expenses
OPERATING INCOME
NONOPERATING REVENUES (EXPENSES)
Nonoperating Expenses (20,900) (20,900) (28,923) (8,023)
Gain on Disposal of Capital Assets - - 22,074 22,074
Investment Earnings 315,300 315,300 1,440,417 1,125,117
Interest Expense (2,970,600) (2,970,600) (2,401,818) 568,782
Total Nonoperating Revenues (Expenses)
INCOME BEFORE
CONTRIBUTIONS AND TRANSFERS 1,982,415 1,839,973 6,581,234 4,741,261
TRANSFERS OUT - - (39,765)
CAPITAL CONTRIBUTIONS 378,500 378,500 34,969
NET CHANGE IN NET POSITION
NET POSITION - BEGINNING
NET POSITION - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenses and Changes in Net Position
Budget to Actual - Sewer Utility
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
155
OPERATING REVENUES
Charges for Services $14,971,400 14,971,400 15,300,557 329,157
Other Operating Revenues 10,000 10,000 350 (9,650)
Total Operating Revenues
OPERATING EXPENSES
Total Operating Expenses
OPERATING INCOME
NONOPERATING REVENUES (EXPENSES)
Gain on Disposal of Capital Assets - - 693 693
Investment Earnings (Loss)300,000 300,000 1,454,954 1,154,954
Interest Expense (3,286,100) (3,286,100) (2,685,458) 600,642
Total Nonoperating Revenues (Expenses)
INCOME BEFORE CONTRIBUTIONS 5,793,431 5,611,396 7,394,306 1,782,910
CAPITAL CONTRIBUTIONS 75,000 75,000 39,546
NET CHANGE IN NET POSITION
NET POSITION - BEGINNING
NET POSITION - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenses and Changes in Net Position
Budget to Actual - Stormwater Utility
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
156
OPERATING REVENUES
Charges for Services 94,600 94,600 97,171 2,571
Fines, Forfeitures and Penalties 15,000 15,000 41,636 26,636
Total Operating Revenues
OPERATING EXPENSES
Total Operating Expenses
OPERATING LOSS
NONOPERATING REVENUE (EXPENSE)
Investment Earnings - - 5,057 5,057
Interest Expense (2,030) (2,030) (2,065) (35)
Total Nonoperating Revenue (Expense)
NET CHANGE IN NET POSITION
NET POSITION - BEGINNING
NET POSITION - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenses and Changes in Net Position
Budget to Actual - Parking Utility
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
157
OPERATING REVENUES
Taxes 2,425,000 2,425,000 2,555,474 130,474
Other Operating Revenues 90,900 90,900 108,454 17,554
Total Operating Revenues
OPERATING EXPENSES
Total Operating Expenses
OPERATING INCOME (LOSS)
NONOPERATING REVENUE (EXPENSE)
Investment Earnings - - 58,862 58,862
Interest Expense (40,000) (40,000) (31,873) 8,127
Total Nonoperating Revenue (Expense)
NET CHANGE IN NET POSITION
NET POSITION - BEGINNING
NET POSITION - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenses and Changes in Net Position
Budget to Actual - Oshkosh Convention Center
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
158
OPERATING REVENUES
Other Operating Revenues $- - 11,083 11,083
OPERATING EXPENSES
OPERATING INCOME (LOSS)
NONOPERATING REVENUE (EXPENSES)
Gain on Disposal of Capital Assets 500,000 500,000 25,000 (475,000)
Investment Earnings (Loss)- - (65,534) (65,534)
Interest Expense (4,400) (4,400) (4,397) 3
Miscellaneous - - 5,000 5,000
Total Nonoperating Revenue (Expenses)
NET CHANGE IN NET POSITION
NET POSITION - BEGINNING
NET POSITION - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenses and Changes in Net Position
Budget to Actual - Industrial Park Land
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
159
OPERATING REVENUES
Charges for Services $1,219,200 1,219,200 1,439,596 220,396
OPERATING EXPENSES
Total Operating Expenses
OPERATING INCOME (LOSS)
NONOPERATING REVENUE
Investment Earnings - - 132,303 132,303
NET CHANGE IN NET POSITION
NET POSITION - BEGINNING
AS PREVIOUSLY REPORTED
Error Correction 132,684 132,684 132,684 -
NET POSITION - BEGINNING, AS ADJUSTED
NET POSITION - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenses and Changes in Net Position
Budget to Actual - Inspection Services
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
160
OPERATING REVENUES
Charges for Services $11,718,600 11,718,600 11,571,485 (147,115)
Other Operating Revenues 600,000 600,000 1,636,874 1,036,874
Total Operating Revenues
OPERATING EXPENSES
NET CHANGE IN NET POSITION
NET POSITION - BEGINNING
NET POSITION - ENDING
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenses and Changes in Net Position
Budget to Actual - Health Insurance
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
161
OPERATING REVENUES
Charges for Services $985,100 $985,100 $985,200 $100
OPERATING EXPENSES
Claims and Administration (14,703)
NET CHANGE IN NET POSITION 6 (384) (14,987) (14,603)
NET POSITION - BEGINNING 642,513 642,513 642,513 -
NET POSITION - ENDING $ 642,519 $ 642,129 $ 627,526 $ (14,603)
Budget Amounts (Unfavorable)
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenses and Changes in Net Position
Budget to Actual - Worker's Compensation
For the Year Ended December 31, 2024
Variance
Original Actual Favorable
Final Budget
162
OPERATING REVENUES
Taxes $6,507,300 $6,507,300 $5,694,787 $ (812,513)
OPERATING EXPENSES
Operations and Maintenance 566,968
NET CHANGE IN NET POSITION 270 (42,907) (288,452) (245,545)
NET POSITION (DEFICIT) - BEGINNING (1,480,725) (1,480,725) (1,480,725) -
NET POSITION (DEFICIT) - ENDING $ (1,480,455) $ (1,523,632) $ (1,769,177) $ (245,545)
Original Actual Favorable
CITY OF OSHKOSH, WISCONSIN
Schedule of Revenues, Expenses and Changes in Net Position (Deficit)
Budget to Actual - Field Operations
For the Year Ended December 31, 2024
Variance
Budget Final Budget Amounts (Unfavorable)
163
STATISTICAL SECTION
2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Governmental Activities
Net Investment in Capital Assets 113,700,586$ 100,609,781$ 53,195,094$ 57,867,428$ 53,733,398$ 47,319,281$ 43,812,963$ 37,227,904$ 39,752,753$ 36,184,133$
Restricted 36,821,326 33,040,924 51,320,016 39,045,714 38,831,796 28,695,910 27,951,509 28,379,167 22,305,281 38,369,139
Unrestricted 53,733,151 42,418,918 67,586,870 52,633,003 37,888,515 48,436,055 47,114,137 33,786,672 26,329,710 18,792,902
Total Governmental Activities Net Position 204,255,063$ 176,069,623$ 172,101,980$ 149,546,145$ 130,453,709$ 124,451,246$ 118,878,609$ 99,393,743$ 88,387,744$ 93,346,174$
Business-Type Activities
Net Investment in Capital Assets 222,608,218$ 199,594,366$ 137,581,623$ 141,692,794$ 162,667,610$ 145,221,685$ 140,276,752$ 113,691,844$ 120,012,568$ 123,851,149$
Restricted 24,915,150 23,721,241 23,162,743 23,124,605 1,555,705 16,792,800 16,279,781 12,250,194 31,949,679 14,773,848
Unrestricted 49,711,529 54,315,165 98,551,150 81,677,837 71,541,182 65,833,816 58,666,104 73,264,160 33,991,810 35,395,885
Total Business-Type Activities Net Position 297,234,897$ 277,630,772$ 259,295,516$ 246,495,236$ 235,764,497$ 227,848,301$ 215,222,637$ 199,206,198$ 185,954,057$ 174,020,882$
Primary government
Net Investment in Capital Assets 336,308,804$ 300,204,147$ 190,776,717$ 199,560,222$ 216,401,008$ 192,540,966$ 184,089,715$ 150,919,748$ 159,765,321$ 160,035,282$
Restricted 61,736,476 56,762,165 74,482,759 62,170,319 40,387,501 45,488,710 44,231,290 40,629,361 54,254,960 53,142,987
Unrestricted 103,444,680 96,734,083 166,138,020 134,310,840 109,429,697 114,269,871 105,780,241 107,050,832 60,321,520 54,188,787
Total Primary Government Net Position 501,489,960$ 453,700,395$ 431,397,496$ 396,041,381$ 366,218,206$ 352,299,547$ 334,101,246$ 298,599,941$ 274,341,801$ 267,367,056$
CITY OF OSHKOSH, WISCONSIN
Net Position
(accrual basis of accounting)
Last Ten Years
164
2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Program Revenues
Governmental Activities:
Charges for Services:
Expenses
(accrual basis of accounting)
Last Ten Years
Changes in Net Position
CITY OF OSHKOSH, WISCONSIN
165
2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Net (Expense)/Revenue
Governmental Activities (53,954,143)$ (72,348,942)$ (69,584,375)$ (50,407,001)$ (58,437,438)$ (56,833,280)$ (41,714,526)$ (49,556,732)$ (60,908,473)$ (52,702,207)$
Business-Type Activities 16,107,368 14,521,251 13,894,980 10,864,726 10,949,893 13,363,249 14,496,531 12,835,531 11,753,347 8,131,222
Total Primary Government Net Expense (37,846,775) (57,827,691) (55,689,395) (39,542,275) (47,487,545) (43,470,031) (27,217,995) (36,721,201) (49,155,126) (44,570,985)
General Revenues and Other Changes in Net Position
Governmental Activities:
Taxes:
Property and Other Local Taxes Levied For:
General Purposes 32,805,573 31,643,600 30,349,500 29,982,343 28,259,622 27,149,155 26,088,061 25,568,490 16,540,825 7,674,823
Other Purposes 6,005,311 4,750,959 6,654,317 5,839,480 3,048,593 4,111,868 7,053,820 6,652,124 13,439,350 14,856,920
Debt Service 13,897,400 13,277,100 12,733,500 11,160,200 12,070,600 11,451,100 10,985,500 10,323,676 9,851,809 18,037,275
18,206,706 18,368,054 18,667,511 18,015,015 13,718,267 13,092,274 14,004,464 13,868,473 13,286,136 12,165,208
Investment Return 7,324,533 5,417,829 1,352,673 1,768,125 1,311,446 2,171,166 966,466 1,898,404 1,351,658 185,641
Gain (Loss) on Sale of Capital Assets - 127,039 139,782 118,356 62,184 42,630 16,841 150,275 18,075 25,683
Miscellaneous 2,204,688 1,033,828 1,733,237 1,557,918 4,589,381 1,385,542 355,433 1,136,780 476,935 317,288
Transfers 1,542,600 1,542,600 1,542,600 1,058,000 1,832,618 3,002,182 1,371,400 964,509 985,255 988,173
Total Governmental Activities 81,986,811 76,161,009 73,173,120 69,499,437 64,892,711 62,405,917 60,841,985 60,562,731 55,950,043 54,251,011
Business-Type Activities:
General Purposes property taxes levied for 856,600 809,500 809,500 809,500 809,500 947,700 920,600 887,524 843,391 748,125
Investment Return 4,266,762 4,491,304 (380,123) 70,255 583,594 1,307,437 788,592 493,595 288,022 (13,041)
Gain (Loss) on Sale of Capital Assets - 55,801 18,523 44,258 825,490 1,650 7,311 - 33,670 -
Miscellaneous 68,767 - - - 17,130 7,810 2,163,840 - --
Transfers (1,542,600) (1,542,600) (1,542,600) (1,058,000) (1,832,618) (3,002,182) (1,371,400) (964,509) (985,255) (988,173)
Total Business-Type Activities 3,649,529 3,814,005 (1,094,700) (133,987) 403,096 (737,585) 2,508,943 416,610 179,828 (253,089)
Total Primary Government 85,636,340 79,975,014 72,078,420 69,365,450 65,295,807 61,668,332 63,350,928 60,979,341 56,129,871 53,997,922
Change in Net Position
Governmental Activities 28,032,668 3,812,067 3,588,745 19,092,436 5,572,637 19,127,459 19,127,459 11,005,999 (4,958,430) 1,548,804
Business-Type Activities 19,756,897 18,335,256 12,800,280 10,730,739 12,625,664 17,005,474 17,005,474 13,252,141 11,933,175 7,878,133
Total Primary Government Change in Net Position 47,789,565$ 22,147,323$ 16,389,025$ 29,823,175$ 18,198,301$ 36,132,933$ 36,132,933$ 24,258,140$ 6,974,745$ 9,426,937$
State and Federal Aids Not Restricted to Specific Functions
(accrual basis of accounting)
Last Ten Years
Changes in Net Position (continued)
CITY OF OSHKOSH, WISCONSIN
166
2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
FUND BALANCES
NONSPENDABLE
Inventories and prepaid items 504,640$ 319,608$ 322,998$ 235,147$ 220,529$ 150,934$ 83,851$ 59,300$ 46,778$ 17,259$
Receivables from other funds - - - - 113,993 703,921 - 1,704,665 8,022,157 13,302,738
Permanent Gifts 6,160,474 3,646,301 3,646,301
RESTRICTED
Construction of assets 15,560,382 12,464,418 11,546,889 10,363,853 10,222,843 12,774,151 14,305,655 15,448,351 4,891,747 7,255,154
Debt service 2,361,305 1,551,959 16,995,944 - 124,348 2,189,515 1,092,465 923,371 2,251,808 2,361,472
Special purposes 7,889,783 7,662,340 7,782,987 7,742,864 7,550,920 2,982,819 5,915,198 4,873,307 6,169,377 5,676,076
Trust agreements 9,699,044 9,866,830 8,850,505 12,200,095 11,636,360 11,272,813 10,355,777 10,622,852 9,717,845 9,437,194
COMMITTED
Special purposes 9,251,416 8,894,271 8,651,100 8,317,413 8,068,583 4,541,964 5,000,463 1,171,091 1,786,878 1,948,928
ASSIGNED
Subsequent years - 339,607 80,018 712,583 9,035,291 49,180 161,205 - 1,835 -
Special purposes 37,300,132 17,293,623 13,864,016 8,951,201 - 5,508,363 - - - -
Construction of assets 15,124,279 27,402,762 27,989,015 29,584,724 21,941,110 24,477,440 22,279,952 20,927,327 15,083,683 13,759,242
UNASSIGNED
General fund 22,535,640 17,822,646 19,684,630 18,281,841 16,478,392 14,256,427 11,817,119 10,230,445 8,427,707 8,540,127
Debt Service - - - (877,277) - - - - - -
Special revenue funds (455,158) (92,371) (76,417) (142,242) (84,713) (294,067) 1,181,668 (3,636,920)(74,716) (4,637,412)
Capital project funds (13,212,982) (13,171,928) (11,937,833) (10,336,942) (10,140,129) (9,812,845) (10,224,467) (10,060,081)(12,319,773) (4,706,405)
Total Fund Balances 112,718,955$ 94,000,066$ 107,400,153$ 85,033,260$ 75,167,527$ 68,800,615$ 61,968,886$ 52,263,708$ 44,005,326$ 52,954,373$
CITY OF OSHKOSH, WISCONSIN
Fund Balances, Governmental Funds
Last Ten Years
12/31/2023
167
2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Revenues
Taxes 52,708,284$ 49,671,659$ 49,737,317$ 47,092,045$ 43,238,205$ 42,525,650$ 43,928,857$ 42,339,970$ 39,678,624$ 40,394,058$
Special assessments 4,403,770 4,353,907 6,059,489 5,146,172 2,397,687 3,790,351 3,408,853 2,819,275 1,745,129 4,090,632
Last Ten Fiscal Years
Changes in Fund Balances, Governmental Funds
CITY OF OSHKOSH, WISCONSIN
168
Fiscal Assessed Estimated Actual
Assessed
Estimated Actual Total Assessed Total Direct Estimated Actual
Ratio of Total
Assessed to
2024 6,063,397,300$ 6,315,463,943$ -$ -$ 6,063,397,300$ 8.1396 6,315,463,943$ 95.84
2023 3,948,025,600$ 5,163,896,557$ 74,165,900$ 97,006,725$ 4,022,191,500$ 12.5764 5,260,903,282$ 69.20
2022 3,917,468,500 4,897,318,492 84,066,600 105,093,612 4,001,535,100 12.1180 5,002,412,104 74.99
2021 3,903,326,700 4,571,938,460 91,964,200 107,717,005 3,995,290,900 11.6083 4,679,655,465 82.87
2020 3,867,063,100 4,294,808,493 99,822,900 110,864,557 3,966,886,000 11.1413 4,405,673,051 88.94
2019 3,806,380,700 4,087,892,193 93,736,900 100,669,474 3,900,117,600 10.9027 4,188,561,667 92.60
2018 3,758,059,400 3,949,636,890 105,526,300 110,905,796 3,863,585,700 10.5820 4,060,542,686 94.90
2017 3,723,271,100 3,793,325,937 134,564,600 137,079,919 3,858,285,700 10.5580 3,930,405,857 98.13
2016 3,641,697,700 3,650,387,038 130,942,200 131,254,637 3,772,639,900 10.3440 3,781,641,675 99.76
2015 3,606,419,800 3,606,061,488 142,327,700 142,313,559 3,748,747,500 9.7870 3,748,375,047 100.00
CITY OF OSHKOSH, WISCONSIN
Assessed and Estimated Actual Value of Taxable Property
Last Ten Fiscal Years
December 31, 2024
Real Property Personal Property
169
Fiscal
Year Operations Debt Total Total
Operations Debt Total Total
City of Oshkosh
CITY OF OSHKOSH, WISCONSIN
Property Tax Rates - Direct and Overlapping Governments
Last Ten Fiscal Years
December 31, 2024
City of Oshkosh
Schools College County of Winnebago State of Wisconsin
Tax Levies
47,298,940 4,046,395 20,501,010 -
Schools College County of Winnebago State of Wisconsin
47,612,917$ 4,308,866$ 20,490,882$ -$
49,582,957 4,033,674 20,213,044 -
37,213,146 4,128,654 19,744,572 -
35,089,846 4,146,909 19,925,941 -
42,916,637 4,119,695 20,443,171 -
37,784,007 4,207,547 20,192,201 -
35,051,183 3,962,683 19,253,275 -
35,551,348 3,915,834 19,002,146 640,848
33,555,438 3,910,234 19,019,113 635,319
170
Real Property Percentage of Total
Taxpayer Assessed Valuation (1)Assessed Valuation
Taxpayer Assessed Valuation (1)Assessed Valuation
City of Oshkosh, Wisconsin
Principal Taxpayers
12/31/2024 and 12/31/2014
December 31, 2024
December 31, 2014
171
County Percent of Total
Year Year (1)
City of Oshkosh, Wisconsin
Property Tax Levies And Collections
Last Ten Fiscal Years
Note: Real estate taxes may be paid in a single payment due January 31, or in four installments, January 31, March
31, May 31, and July 31. The City collects taxes on behalf of the overlapping governments. The City remits taxes to
the other governments on five settlement dates - January 15, February 15, April 15, June 15, and August 15. The
City then transfers the delinquent taxes to the County by August 15 and the County in turn makes the City whole with
a settlement on August 20. The City retains the responsibility of collecting delinquent personal property taxes.
172
Fiscal Year
General
Obligation debt
Compensated
absences
Pension
Liability
(WRS)
General
Obligation debt Revenue bonds absences
Total Primary
Government
Percentage
of Personal
Income Capita
Note: Details regarding the City's outstanding debt can be found in the notes to the financial statements.
CITY OF OSHKOSH, WISCONSIN
Outstanding Debt by Type
Last Ten Fiscal Years
December 31, 2024
Governmental Activities Business-Type Activities
173
Fiscal Year Population Equalized Value Debt Total Value Per Capita
Long-Term Debt
CITY OF OSHKOSH, WISCONSIN
Ratios of Net General Bonded Debt Outstanding
Last Ten Fiscal Years
December 31, 2024
Net General
174
Percent Amount
Direct Debt:
City purpose 128,697,152$
Less Sanitary Sewer purpose (1,530,000)
Less Storm Water purpose (1,580,000)
Less Water Utility purpose (1,010,000)
Less TIF purpose (4,417,217)
Net City Purpose 120,159,935$ 100.0000%120,159,935$
Total Net Direct Debt 120,159,935
Overlapping Debt
Oshkosh Area Public School District 103,445,000 72.2000%74,687,290
Fox Valley Technical College 80,110,000 9.7370%7,800,311
Winnebago County 5,464,247,100 28.9100%1,579,713,837
Total Overlapping Debt 1,662,201,438
1,782,361,373$
CITY OF OSHKOSH, WISCONSIN
Direct and Overlapping Governmental Activities Debt
December 31, 2024
TOTAL DEBT
Applicable to City
175
2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Equalized Value 6,326,396,700$ 5,812,158,000$ 5,336,259,600$ 4,821,112,500$ 4,460,244,100$ 4,211,595,500$ 4,073,682,600$ 3,931,778,200$ 3,776,225,300$ 3,743,645,000$
Debt limitation - 5% of equalized value 316,319,835 290,607,900 266,812,980 241,055,625 223,012,205 210,579,775 203,684,130 196,588,910 188,811,265 187,182,250
Debt applicable to limitation
Total outstanding general obligation debt 128,697,152 126,533,242 136,467,213 121,979,315 125,376,821 130,216,915 132,788,606 136,799,914 138,876,319 145,410,531
Less: Debt service fund (1,028,359) (1,187,495) (16,409,095) - (124,348) (2,189,515) (1,092,465) (923,371) (760,004) (976,051)
Less: Other funds available for debt retirement - - - - - - - - - -
% Of Change
CITY OF OSHKOSH, WISCONSIN
Legal Debt Margin Information
Last Ten Fiscal Years
December 31, 2024
176
Fiscal Utility Service
(1)
Less: Operating
(2)
Net Revenue
Available for Debt
Principal Interest
Revenue
Fiscal Utility Service
(1)
Less: Operating
(2)
Net Revenue
Available for Debt
Principal Interest
Revenue
Fiscal Utility Service
(1)
Less: Operating
(2)
Net Revenue
Available for Debt
Principal Interest
Revenue
Includes total operating expenses less: depreciation, bond issue expense and interest expense.
CITY OF OSHKOSH, WISCONSIN
Pledged-Revenue Coverage
Last Ten Fiscal Years
December 31, 2024
Water Revenue Bonds
Debt Service
Sewer Revenue Bonds
Debt Service
Storm Water Revenue Bonds
Debt Service
Includes total operating revenues and investment income.
177
Total
Personal Per Capita Median School Unemployment
Year (1)Income (2)Income (3)Age (3)Enrollment (4)Rate (5)
2024 65,763 2,422,248,579 $36,833 34.2 9,927 2.7%
2023 65,216 2,199,735,680 $33,730 34.2 10,689 2.8%
2022 66,816 2,253,703,680 $33,730 34.3 10,623 2.5%
2021 67,610 2,329,164,500 $34,450 34.3 9,191 2.9%
2020 67,408 2,204,376,416 32,702 34 10,494 4.6%
2019 67,201 2,076,309,297 30,897 34 11,050 3.2%
2018 66,945 2,068,399,665 30,897 33.6 11,158 2.7%
2017 66,636 2,073,912,228 31,123 33.6 11,131 3.1%
2016 66,717 2,076,433,191 31,123 N/A 11,128 3.2%
2015 66,327 1,917,115,608 28,904 32.8 11,141 3.8%
Source:
(1) U.S. Census Bureau - WI Dept of Administration
(2) Computation of per capita personal income multiplied by population
(3) U.S. Census Bureau, http://www.census.gov/
(4) WI Department of Public Instruction, https://dpi.wi.gov/wisedash
(5) Wisconsin Department of Workforce Development Website: worknet.wisconsin.gov
N/A = Not Available at time of publication
City of Oshkosh, Wisconsin
Demographic and Economic Statistics
Last Ten Years
December 31, 2024
178
2014
Percentage of Oshkosh
Total City Financial
Employees Employment Report
Manufacturing
Oshkosh Corporation 7,510 21.63%2,800
Amcor (all Oshkosh locations)3,500 10.08%2,460
Silver Star Brands Inc. / Miles Kimball Co.300 0.86%650
Hoffmaster, A Solo Cup Company,500 1.44%454
(Scott Worldwide Food Service)
Muza Metal Products 160 0.46%265
Lapham-Hickey Steel 313 0.90%256
Non-Manufacturing
Aurora Medical Center & Aurora Group 1,200 3.46%870
U S Bank (Firstar)1,150 3.31%1,118
4imprint (Nelson Marketing)1,600 4.61%584
Ascension Health 688 1.98%678
Oshkosh Community YMCA 128 0.37%200
Miravida Living 275 0.79%279
Wal-Mart 318 0.92%318
Clarity Care (Residential Care RCDD)650 1.87%569
United Parcel Service 200 0.58%200
Government
University of WI - Oshkosh 1,200 3.46%1,425
Oshkosh Area School District 1,300 3.74%1,388
Winnebago County 1,018 2.93%1,018
Winnebago Mental Health Institute 625 1.80%702
City of Oshkosh Full-Time 650 1.87%564
Oshkosh Correctional Institution 502 1.45%502
CESA6 200 0.58%200
Oshkosh's Labor Force Estimates **34,715
**Source: WI DWD - Data Search - Labor Force - Oshkosh - Annual
Source: Oshkosh Chamber of Commerce and/or employers*
*Employee counts listed are the number of full-time equivalent employees reported by each
organization for the Oshkosh area.
Principal Employers*
CITY OF OSHKOSH, WISCONSIN
Current Year and Ten Years Ago
2024
December 31, 2024
179
2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
General Fund
General Government
Manager 3.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00 2.00
Attorney 3.65 3.65 3.65 4.00 3.65 4.00 4.00 3.00 3.00 3.00
Human Resources 6.00 6.00 6.00 6.00 6.00 6.00 6.00 5.00 5.00 6.00
Clerk 3.00 3.00 3.00 4.00 3.00 3.00 3.00 3.00 3.00 3.00
Finance 14.00 14.00 14.00 14.00 16.00 15.28 15.28 14.80 14.80 12.80
Purchasing 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00
I T / Central Services 9.40 9.40 8.40 10.00 7.40 7.40 7.40 7.40 7.40 7.40
Facilities Maint.9.64 8.00 6.00 6.00 5.80 5.80 5.80 5.80 5.80 5.80
Media Services 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00
Public Safety
Safety - - - - - - - - - 1.00
Police 135.00 132.00 131.36 127.00 131.36 129.00 128.49 127.49 127.49 115.00
Fire 115.00 115.00 114.00 117.00 109.00 108.00 108.00 108.00 108.00 108.00
Public Works
Public Works Admin.1.85 1.85 1.85 3.00 3.00 3.00 3.00 3.00 3.00 3.00
Engineers 12.14 12.13 12.13 13.00 12.80 11.70 11.70 11.70 11.70 11.70
Streets 33.00 33.00 27.00 25.00 29.00 29.00 29.00 29.00 29.00 29.00
Central Garage 10.00 9.00 10.00 11.00 10.00 8.00 8.00 8.00 8.00 8.00
Garbage - - - - - - - - - -
Parks
Parks 18.91 15.91 18.80 16.00 15.87 16.00 15.91 14.89 14.89 14.89
Forestry 6.00 5.00 4.28 4.00 4.00 4.00 4.00 4.00 4.00 4.00
Community Development
Assessor 6.00 5.80 5.80 5.00 5.80 5.80 5.80 5.80 5.80 5.80
Economic Development 5.00 5.00 5.00 6.00 5.00 5.00 5.00 5.00 5.00 4.80
Planning 8.00 8.00 9.00 9.00 9.00 9.00 9.00 9.00 9.00 8.50
Inspection Services 9.05 8.25 8.25 8.25 7.74 7.62 7.62 7.50 7.50 7.50
Weights and Measures 1.00 1.00 1.00 1.00 1.30 1.50 1.50 1.50 1.50 -
Healthy Neighborhood Initiative 0.75 0.75 0.75 0.75 0.88 0.88 0.88 0.88 0.88 -
Transportation
Electric 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00 5.00
Sign 2.00 2.00 2.54 2.00 2.00 2.00 2.00 2.00 2.00 2.00
Administrative Services
Safety & Worker Compensation 10.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00
Special Revenue Funds
Parks
Cemetery 3.64 3.64 3.75 3.75 3.64 3.64 3.64 3.64 3.64 3.00
Senior Services 6.25 6.25 7.26 6.25 7.07 7.18 7.18 7.18 7.18 5.00
Parks Revenue Facilities 0.50 0.50 0.50 0.50 0.36 0.49 0.49 0.36 0.36 0.36
Public Works
Garbage 7.50 7.50 9.00 9.00 7.50 7.50 7.50 7.50 7.50 8.00
Recycling 4.50 4.50 5.00 5.00 4.50 4.50 4.50 4.50 4.50 5.00
Other
Library 39.80 38.80 38.80 38.50 39.30 38.65 38.65 37.68 37.68 38.58
Museum 10.91 11.55 12.55 12.00 12.55 11.00 11.00 11.43 11.43 10.00
Enterprise Funds
Convention Center 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 -
Golf Course - - - - - - - 2.00 2.00 2.00
Transit Utility 33.00 33.00 31.85 35.00 31.85 32.00 32.00 32.00 32.00 29.00
Parking Utility 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00 1.00
Water Utility 41.91 41.96 40.68 44.00 38.02 38.02 35.02 35.02 35.02 34.93
Sewer Utility 34.61 26.00 26.00 26.00 36.92 33.02 33.02 33.02 - 32.68
Storm Utility 10.50 11.46 14.00 14.00 14.17 14.17 10.86 10.85 10.85 10.50
Total Full-time Equivalent 628.51 599.90 598.20 602.00 600.48 588.15 581.24 577.94 544.92 555.24
Source: City of Oshkosh Finance Department - Annual Budget
CITY OF OSHKOSH, WISCONSIN
Full-time Equivalent City Government Employees by Function/Program
Last Ten Fiscal Years
December 31, 2024
180
2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Police left 2023 totals in - please update
Stations 1 1 1 1 1 1 1 1 1 1
Community Policing Offices 1 1 1 1 1 1 mobile 1 mobile 1 mobile 1 mobile I mobile
Patrol Units 36 31 30 30 30 30 30 29 29 28
Fire
Stations 6 6 6 6 6 6 6 6 6 6
Refuse Collection
Collection trucks 14 12 13 13 13 13 13 13 13 13
Other Public Works
Streets (miles)261.66 261.66 266.14 266.14 266.14 266.14 265.33 260.87 260.05 259.35
Street Lights 1,760 1,710 1,660 1,610 1,540 1,496 1,425 1,405 1,390 1,350
City traffic signals (intersections)66 66 66 68 68 68 68 68 68 67
Parks and Recreation
Acreage 417 417 417 417 417 416 415 448 445 440
Playgrounds 19 19 19 19 19 19 19 19 19 19
Baseball/softball diamonds 18 18 18 18 18 19 19 19 19 19
Water
Watermains (miles)299.14 299.16 298.32 298.37 300.00 300.00 299.04 297.41 313.00 296.09
Average Daily Pumpage (Million Gallons per day)5.917 5.871 5.890 6.211 5.810 5.960 5.980 5.95 5.790 6.170
Wastewater
Sanitary sewers (miles)266.9 265.9 267.7 267.4 267.3 266.51 266.03 266.08 266.50 266.21
Storm sewers (miles)277.3 276.5 275.8 274.4 272.7 270.97 260.35 255.02 256.70 251.97
Transit
Buses 16 16 16 16 16 16 16 16 16 16
Sources: various city departments
* Data Not Available
CITY OF OSHKOSH, WISCONSIN
Capital Asset Statistics by Function/Program
Last Ten Fiscal Years
December 31, 2024
181
2024 2023 2022 2021 2020 2019 2018 2017 2016 2015
Police
Physical arrests 3,530 4,130 3,769 3,514 2,874 3,518 3,675 1,652 2,646 3,854
Traffic Enforcement Citations 3,959 4,858 5,104 4,501 3,539 6,564 7,077 8,207 7,175 4,720
Reportable Accidents 1,352 1,433 1,257 1,229 962 1,316 1,370 1,453 1,464 1,434
Fire
Emergency responses 10,667 9,106 8,840 8,121 8,872 7,480 8,678 7,283 8,591 8,018
Fire responses 98 147 119 125 1,180 104 124 132 113 130
Other 1,562 1,084 1,439 1,305 1,287 1,167 1,475 1,117 844
Refuse Collection
Refuse collected (average tons per day)56 56 56 57.82 57.02 53.74 52.83 52.94 51.85 50.42
Refuse collected total tons per year 14,893 14,528 14,563 15,034.32 14,825.04 13,971.79 13,735.54 13,765.69 13,481.38 13,158.55
Comingled recyclable containers (tons)0 0 - 4,421 4,353
Mixed paper and comingled recyclables (tons)3,763 3,851 3,977 4,193.96 4,293.35 4,177.21 4,257.00 4,327.65
Other Public Works
New street pavement (miles)0 .09 1 0.25 0.00 0.21 0.33 - 1.01 0.00
Street resurfacing (miles)8.2 4.47 2 2.15 2.19 2.27 2.73 3.50 2.89 2.25
Inspection
Commercial construction - units 225 100 80 485 120 9 8 325 71 248
Commercial construction (thousands of dollars)31,286,588 11,349,548 8,063,529 41,674,417 9,563,646 15,898,993 350,000 23,293,785 14,655,000 15,897,849
Residential construction - units 45 24 74 96 63 35 30 39 25 27
Residential construction (thousands of dollars)12,651,603 5,525,778 12,263,835 17,540,614 14,624,217 8,136,285 7,634,719 7,845,550 4,060,521 4,498,868
Water
New construction (miles)0.09 .84 0 0 0 2.41 4.02 4.91 3.43 2.62
Water main leaks 57 35 56 75 68 78 110 87 68 77
Average number of residential customers 21,212 21,472 20,902 21,090 20,809 20,948 20,823 20,585 20,569 21,441
Average annual usage per residential customer, (gallons) 33,489 33,938 32,989 33,412 34,694 35,000 34,810 35,047 35,774 34,982
Transit
Total route miles 479,796 491,359 541,129 541,003 539,128 546,190 544,929 538,967 483,085 483,492
Passengers (includes paratransit)718,073 685,231 619,330 607,527 464,957 818,919 943,195 980,057 995,697 990,431
Sources: various city departments
Notes:
Police Statistics
Reportable - Anything that gets reported to the State
1) Damage to property is over $1,000
2) Report of an injury or a complaint about an injury
3) Gov't property damage over $250.00 (ex - a light pole)
*Data Not Available
CITY OF OSHKOSH, WISCONSIN
Operating Indicators by Function/Program
Last Ten Fiscal Years
December 31, 2024
182
2015 Estimate
2016 Estimate
2017 Estimate 66,636
2018 Estimate 66,945
2019 Estimate 67,201
2020 Estimate 67,408
2021 Estimate 67,610
2022 Estimate 66,816
2023 Estimate 65,126
2024 Estimate 65,763
Year No. Value No. Value
(3)
(4)
(4)
CITY OF OSHKOSH, WISCONSIN
December 31, 2024
POPULATION - CITY OF OSHKOSH (1)
ECONOMICS
UTILITY CUSTOMERS AT YEAR END - CITY OF OSHKOSH
66,327
66,717
BUILDING PERMITS (2)
183
YEAR TOTAL UNITS SINGLE FAMILY TWO FAMILY FAMILY
2016 128 15 10 103
2017 364 31 8 325
2018 38 30 0 8
2019 35 32 0 3
2020 183 49 14 120
2021 581 72 24 485
2022 154 64 10 80
2023 124 22 2 100
2024 270 43 2 225
Source: City of Oshkosh Inspection Services Division
CITY OF OSHKOSH, WISCONSIN
NEW DWELLING UNITS CONSTRUCTED
2005-2024
184
First $6.10 per 100 CU. FT.
Next 5.80 per 100 CU. FT.
Next 5.60 per 100 CU. FT.
Over
1,000 CU FT
2,300 CU FT
63,300 CU FT
66,600 CU FT 5.05 per 100 CU. FT.
Meter Size Service Protection Meter Size Service Protection
Billings Usage (00's)
Charge per 100 CU FT $6.62 $1.67
Unmetered Customers:
$0.00
Minimum Monthly Charge
CITY OF OSHKOSH, WISCONSIN
UTILITY RATE INFORMATION
December 31, 2024
WATER UTILITY RATES
Monthly Volume Charge
100 Cubic Feet (CU FT) = 748 Gallons
Top Ten Users / Customers
SEWER UTILITY RATES
Monthly Volume Charge
100 Cubic Feet (CU FT) = 748 Gallons Special Charges:
Meter Reading & Billing Charge
for non-sewer deduct meters,
per billing period.
Fixed Monthly Charge
(based on 5 CCF/month)
185
Meter Size Charge Meter Size Charge
5/8" & 3/4"$12.15 4"$131.08
1"19.59 6"254.97
1-1/4"25.78 8"403.63
1-1/2"31.97 10"626.63
2"46.84 12"874.40
3"81.53
Billings Usage (00's)
Billings ERU'S
Fixed Monthly Charge
Top Ten Users / Customers
STORM WATER UTILITY RATES
Top Ten Users / Customers
186
2021 Actuals 2022 Actuals 2023 Original 2023 Projected 2024 Adopted
Change from
2023 to 2024
% of
Change
Revenue
41 - PROPERTY TAX REVENUE (22,332,993)$ (24,181,007)$ (23,817,500)$ (25,360,100)$ (26,002,600)$ (2,185,100)$ 9.17%
42 - INTERGOV REVENUE (16,822,255) (16,688,703) (16,842,500) (16,626,720) (19,200,900) (2,358,400) 14.00%
43 - LICENSES AND PERMITS (867,695) (825,081) (822,000) (805,500) (817,000) 5,000 -0.61%
44 - FINES & FORFEITURES (604,003) (573,152) (864,300) (673,800) (703,600) 160,700 -18.59%
45 - CHARGES FOR SERVICES (3,903,125) (6,328,007) (4,310,900) (6,637,800) (6,651,800) (2,340,900) 54.30%
48 - INTERNAL SERV CHRG (3,535,484) (1,147,769) (2,814,900) (764,900) (729,257) 2,085,643 -74.09%
49 - MISC REVENUES (878,832) (1,146,729) (963,000) (2,275,500) (2,500,200) (1,537,200) 159.63%
52 - OTHER FINANCING (1,000,000) -(1,822,600) (280,000) -1,822,600 -100.00%
53 - SALE-CAPITAL ASSETS (118,356) (95,377) (25,000) (25,000) (25,000) -0.00%
(50,062,742) (50,985,826) (52,282,700) (53,449,320) (56,630,357) (4,347,657) 8.32%
61 - DIRECT LABOR 29,424,054 30,416,031 30,215,700 30,000,000 30,356,378 140,678 0.47%
62 - INDIRECT LABOR - - 668,800 -2,220,083 1,551,283 100.00%
63 - PAYROLL BENEFITS 10,025,198 10,977,251 10,645,500 10,645,000 11,944,028 1,298,528 12.20%
64 - CONTRACTUAL SERVICES 5,802,795 6,119,728 8,715,300 8,880,000 10,195,130 1,479,830 16.98%
65 - MATERIAL & SUPPLIES 1,876,309 1,380,145 1,496,900 1,275,000 1,460,100 (36,800) -2.46%
72 - CAPITAL OUTLAY 288,735 492,137 285,200 275,000 448,600 163,400 57.29%
74 - OTHER FINANCING USES 535,400 742,500 2,780,000 3,100,000 -(2,780,000) -100.00%
47,952,491 50,127,792 54,807,400 54,175,000 56,624,319 1,816,919 3.32%
(2,110,251)$ (858,034)$ 2,524,700$ 725,680$ (6,038)$ (2,530,738)$ -100.24%
2024 General Fund Revenue Budget by Function
CITY OF OSHKOSH, WISCONSIN
187
Function
2024
Adopted
2024
Revised 2024
Actuals
01 - GENERAL GOVERNMENT 8,298,236 8,568,730 8,109,397
61 - DIRECT LABOR 3,707,776 3,910,266 3,757,643
63 - PAYROLL BENEFITS 1,390,660 1,448,277 1,263,146
64 - CONTRACTUAL SERVICES 2,944,600 2,954,987 2,839,055
65 - MATERIAL & SUPPLIES 212,000 212,000 204,353
72 - CAPITAL OUTLAY 43,200 43,200 45,200
74 - OTHER FINANCING USES - - -
02 - PUBLIC SAFETY 34,119,128 35,635,761 35,026,547
61 - DIRECT LABOR 21,761,997 22,832,931 22,290,635
63 - PAYROLL BENEFITS 8,786,431 9,054,653 8,778,037
64 - CONTRACTUAL SERVICES 2,834,200 2,861,769 3,084,000
65 - MATERIAL & SUPPLIES 383,100 483,352 486,010
72 - CAPITAL OUTLAY 353,400 403,056 387,865
03 - PUBLIC WORKS 5,394,723 5,502,212 4,523,029
61 - DIRECT LABOR 1,318,076 1,324,576 1,318,383
63 - PAYROLL BENEFITS 481,847 502,024 492,342
64 - CONTRACTUAL SERVICES 3,165,600 3,222,280 2,342,007
65 - MATERIAL & SUPPLIES 394,200 418,332 337,261
72 - CAPITAL OUTLAY 35,000 35,000 33,035
04 - TRANSPORTATION 1,012,056 1,047,306 928,142
61 - DIRECT LABOR 506,043 532,806 530,518
63 - PAYROLL BENEFITS 207,713 216,200 208,880
64 - CONTRACTUAL SERVICES 142,400 142,400 97,221
65 - MATERIAL & SUPPLIES 146,900 146,900 83,958
72 - CAPITAL OUTLAY 9,000 9,000 7,565
06 - CULTURE & RECREATION 3,329,075 3,460,151 3,099,576
61 - DIRECT LABOR 1,710,660 1,799,824 1,723,674
63 - PAYROLL BENEFITS 612,915 638,808 589,891
64 - CONTRACTUAL SERVICES 697,200 713,219 543,448
65 - MATERIAL & SUPPLIES 300,300 300,300 242,563
72 - CAPITAL OUTLAY 8,000 8,000 -
07 - CONSERVATION & DEVELOPMENT 2,109,918 2,356,382 2,010,994
61 - DIRECT LABOR 1,351,826 1,418,743 1,255,429
63 - PAYROLL BENEFITS 429,462 447,626 397,006
64 - CONTRACTUAL SERVICES 313,330 474,713 347,666
65 - MATERIAL & SUPPLIES 15,300 15,300 10,893
08 - UNCLASSIFIED 2,361,183 422,355 569,562
61 - DIRECT LABOR - - 415,386
62 - INDIRECT LABOR 2,220,083 289,255 -
63 - PAYROLL BENEFITS 35,000 35,000 22,649
64 - CONTRACTUAL SERVICES 97,800 89,800 127,642
65 - MATERIAL & SUPPLIES 8,300 8,300 3,884
72 - CAPITAL OUTLAY - - -
74 - OTHER FINANCING USES - - -
40 - DEBT SERVICE 14,647,400 14,647,400 14,962,587
64 - CONTRACTUAL SERVICES - - -
67 - DEBT SERVICE 14,647,400 14,647,400 14,962,587
74 - OTHER FINANCING USES - - -
Grand Total 71,271,719 71,640,296 69,229,835
CITY OF OSHKOSH, WISCONSIN
2024 Operating Expenditure Budget by Function
188
PER $1,000 2024 2023 INCREASE
OF TAXES TAX RATE TAX RATE (DECREASE)
State 0.000%-$ -$ -$
County 17.160%3.549 5.345 (1.796)
City Tax 39.360%8.140 12.576 (4.436)
Area Schools 39.870%8.246 13.112 (4.866)
Area Vocational 3.610%0.746 1.067 (0.321)
100.000% 20.680 32.100 (11.420)
State Credit 1.765 2.335 (0.570)
18.915$ 29.765$ (10.850)$
CITY OF OSHKOSH
2025 LEVY - 2024 TAX RATE
State
0.000%
County
17.160%
City Tax
39.360%
Area Schools
39.870%
Area Vocational
3.610%
189
2025 2025 2024 INCREASE
SOURCE OF FUNDS AMOUNT PERCENT PERCENT (DECREASE)
GENERAL REVENUES 59,718,010$ 49.30%52.94%-3.64%
INTERGOV REVENUES 34,232,334 28.26%22.92%5.34%
LICENSES AND PERMITS 1,891,920 1.56%1.89%-0.33%
FINES & FORFEITURES 828,100 0.68%0.62%0.06%
CHARGES FOR SERVICES 9,336,200 7.71%8.03%-0.32%
PUBLIC LIBRARY - 0.00%0.21%-0.21%
INTERNAL SERVICE CHARGES 6,901,100 5.70%6.21%-0.51%
MISC REVENUES 7,642,100 6.31%6.67%-0.36%
OTHER FINANCING SOURCES 508,720 0.42%0.44%-0.02%
SALE OF CAPITAL ASSETS 75,800 0.06%0.07%-0.01%
121,134,284$ 100.00%100.00%
CITY OF OSHKOSH, WISCONSIN
2025 BUDGET SOURCE OF FUNDS - REVEUNES
GENERAL REVENUES
49%
INTERGOV REVENUES
28%
LICENSES AND PERMITS
2%
FINES & FORFEITURES
1%
CHARGES FOR SERVICES
8%PUBLIC LIBRARY
<1%
INTERNAL SERVICE
CHARGES
6%
MISC REVENUES
6%
OTHER FINANCING
SOURCES
0%
SALE OF CAPITAL ASSETS
<1%
190
2025 2025 2024 INCREASE
USE OF FUNDS AMOUNT PERCENT PERCENT (DECREASE)
01 - GENERAL GOVERNMENT 8,581,669$ 11.15%11.65%-0.50%
02 - PUBLIC SAFETY 38,238,528 49.69%47.89%1.80%
03 - PUBLIC WORKS 5,645,774 7.34%7.57%-0.23%
04 - TRANSPORTATION 1,073,101 1.39%1.42%-0.03%
06 - CULTURE & RECREATION 3,649,795 4.74%4.67%0.07%
07 - CONSERVATION & DEVELOPMENT 2,578,374 3.35%2.93%0.42%
08 - UNCLASSIFIED 1,991,965 2.59%3.31%-0.72%
40 - DEBT SERVICE 15,200,000 19.75%20.56%-0.81%
76,959,206$ 100.00%100.00%
CITY OF OSHKOSH, WISCONSIN
2025 BUDGET USE OF FUNDS - EXPENDITURES
01 - GENERAL
GOVERNMENT
11.15%
02 - PUBLIC SAFETY
49.69%
03 - PUBLIC WORKS
7.34%
04 - TRANSPORTATION
1.39%
06 - CULTURE &
RECREATION
4.74%
07 - CONSERVATION &
DEVELOPMENT
3.35%
08 - UNCLASSIFIED
2.59%
40 - DEBT SERVICE
19.75%
191
AMOUNT PERCENT
61 - DIRECT LABOR 29,628,667$ 43.3039%
62 - INDIRECT LABOR 126,005 0.1842%
63 - PAYROLL BENEFITS 11,782,859 17.2213%
64 - CONTRACTUAL SERVICES 9,846,595 14.3913%
65 - MATERIAL & SUPPLIES 1,398,390 2.0438%
67 - DEBT SERVICE 15,200,000 22.2156%
72 - CAPITAL OUTLAY 437,800 0.6399%
74 - OTHER FINANCING USES -0.0000%
68,420,316$ 100.0000%
CITY OF OSHKOSH, WISCONSIN
2025 BUDGET - USE OF FUNDS BY FUNCTION
61 - DIRECT LABOR
43.30%
62 - INDIRECT
LABOR
0.18%
63 - PAYROLL
BENEFITS
17.22%
64 - CONTRACTUAL
SERVICES
14.39%
65 - MATERIAL &
SUPPLIES
2.04%
67 - DEBT SERVICE
22.22%
72 - CAPITAL
OUTLAY
0.64%
74 - OTHER
FINANCING USES
0.00%
192
ADDITIONAL REPORT
193
INDEPENDENT AUDITORS’ REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON
COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN
ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS
To the City Council
City of Oshkosh
Oshkosh, Wisconsin
We have audited, in accordance with the auditing standards generally accepted in the United States of America
and the standards applicable to financial audits contained in Government Auditing Standards issued by the
Comptroller General of the United States, the financial statements of the governmental activities, the business-type
activities, the aggregate discretely presented component unit, each major fund and the aggregate remaining fund
information of the City of Oshkosh, Wisconsin (City), as of and for the year ended December 31, 2024, and the
related notes to the financial statements, which collectively comprise the City’s basic financial statements, and
have issued our report thereon dated July 28, 2025.
Report on Internal Control Over Financial Reporting
In planning and performing our audit of the financial statements, we considered the City’s internal control over financial
reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose
of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the
effectiveness of the City’s internal control. Accordingly, we do not express an opinion on the effectiveness of the City’s
internal control.
A deficiency in internal control exists when the design or operation of a control does not allow management or
employees, in the normal course of performing their assigned functions, to prevent, or detect and correct,
misstatements, on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal
control, such that there is a reasonable possibility that a material misstatement of the entity’s financial statements
will not be prevented, or detected and corrected, on a timely basis. A significant deficiency is a deficiency, or a
combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough
to merit attention by those charged with governance.
Our consideration of internal control was for the limited purpose described in the first paragraph of this section and was
not designed to identify all deficiencies in internal control that might be material weaknesses or, significant deficiencies.
Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be
material weaknesses. However, material weaknesses or significant deficiencies may exist that were not identified.
Report on Compliance and Other Matters
As part of obtaining reasonable assurance about whether the City’s financial statements are free of material
misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts and grants
agreements, noncompliance with which could have a direct and material effect on the determination of financial
statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our
audit, and accordingly, we do not express such an opinion. The results of our tests disclosed no instances of
noncompliance or other matters that are required to be reported under Government Auditing Standards.
194
To the City Council
City of Oshkosh, Wisconsin
Purpose of this Report
The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the result
of that testing, and not to provide an opinion on the effectiveness of the entity’s internal control or on compliance. This
report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the
City’s internal control and compliance. Accordingly, this communication is not suitable for any other purpose.
KerberRose SC
KerberRose SC
Certified Public Accountants
Oshkosh, Wisconsin
July 28, 2025