The Indianola Board of Aldermen met Monday, Feb. 9, to review the city’s financial health, revealing a robust “cash in bank” total of more than $7.3 million even as officials look for ways to manage rising departmental costs.
The meeting, held at the City Hall Annex, focused on a detailed breakdown of the city’s accounts provided by City Clerk Stephanie Washington. As of Jan. 31, 2026, the city holds $7,379,000.95 across its bank accounts.
While the total figure provides a strong financial cushion, Washington’s report showed that the money is spread across specific accounts dedicated to infrastructure, public safety, and long-term savings. Key balances from the January report include:
• Clerk Fund: $1,545,744.30
• Infrastructure Modernization Funds: $586,436.76
• Community Bank Certificates of Deposit: Totaling about $2.9 million ($1,282,888.55 and $1,616,399.13)
•Timed Deposit 0570: $865,211.44
• Control Account: $770,236.94
•Industrial Park Fund: $203,583.59
• Delta Regional Authority Grant Fund: $153,380.30
Washington reported that general fund expenditures are about $3.02 million, or roughly 31% of the budget, while total citywide expenditures stand at about $4.97 million. She said the city is at 32.76% of its overall $15.1 million budget, just under the one-third mark for the first four months of the fiscal year.
Despite the high cash balance, several aldermen questioned why some revenue lines appeared low. Washington said general fund tax receipts were at only 4.74% because of the timing of tax collections, with some payments in transit that did not post until early February. She also pointed to delayed reimbursements on grant-funded projects and stressed the need to secure fuel tax, sales tax, and other state transfers.
The board spent much of the discussion on rising labor and insurance costs. Ward 1 Alderman Alex Deason pointed to line items where costs had climbed sharply, including an insurance line that moved from a five-figure to a six-figure amount, and called for a work session to dig into overtime and equipment needs department by department. Washington said the city’s insurance premiums are typically finalized in December and often increase. She urged the board to use staff turnover and retirements as chances to cut ongoing costs, saying that when the city has attrition, that is the opportunity for the board to “trim the fat.” She added that overtime at the animal shelter has been driven by frequent emergencies and animal cruelty cases.
Deason said the city also needs more realistic line items, especially for animal control, where initial budgeted amounts did not match actual demand. He suggested that the city and department heads identify outside funding and rebuild relationships with partners like the Humane Society. Mayor Kenneth Featherstone added that donations, including a recent offer from Walmart for damaged bags of dog food, can help offset costs.
In other business, the board unanimously approved $1,638.47 for postage on 3,501 water bill cards for January.
