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HomeMy WebLinkAbout2026-04-28 Work Session Mayor Robert E. Simison City Council Members: John Overton, President Anne Little Roberts, Vice President Brian Whitlock Liz Strader Doug Taylor Luke Cavener CITY COUNCIL WORK SESSION City Council Chambers, 33 East Broadway Avenue Meridian, Idaho Tuesday, April 28, 2026 at 4:30 PM The City of Meridian is committed to providing equal access to all public meetings. If you need accommodation, an alternative format, or language assistance to fully participate, please contact the City Clerk’s Office at cityclerk@meridiancity.org 72 hours prior the scheduled meeting. Materials presented at public meetings are subject to disclosure pursuant to the Idaho Public Records Act. Public Meetings of the Meridian City Council are streamed live at https://meridiancity.org/live and can be joined virtually at https://bit.ly/meridianzoommeeting Minutes ROLL CALL ATTENDANCE PRESENT Councilman John Overton Councilwoman Anne Little Roberts Councilman Brian Whitlock Councilwoman Liz Strader Councilman Doug Taylor Councilman Luke Cavener Mayor Robert E. Simison ADOPTION OF AGENDA Adopted as Amended (Items 11 and 12 removed) CONSENT AGENDA \[Action Item\] Approved Motion to approve made by Councilman Overton, Seconded by Councilwoman Little Roberts. Voting Yea: Councilman Overton, Councilwoman Little Roberts, Councilman Whitlock, Councilwoman Strader, Councilman Taylor, Councilman Cavener 1. Approve Minutes of the April 14, 2026 City Council Regular Meeting 2. Brundage Estates Subdivision No. 2 Pedestrian Pathway Easement (ESMT-2026-0081) 3. Briar Ridge Subdivision No.1 Sanitary Sewer and Water Main Easement No. 1 (ESMT- 2026-0094) 4. Records Apartments Sanitary Sewer and Water Main Easement No. 3 (ESMT-2026- 0095) 5. Findings of Fact, Conclusions of Law for CenterCal Expansion Subdivision (SHP-2026- 0003) by The Land Group, located at 3395 E. Longwing Ln. 6. Fiscal Year 2026 Net-Zero Budget Amendment in the amount of $31,200 for Alive @25 Instructor Grant Funding 7. Fiscal Year 2026 Net-Zero Budget Amendment Request in the Amount of $10,000.00 for Fire Prevention Education Materials 8. Resolution No. 26-2585: A Resolution of the City Council of the City of Meridian Appointing Brad Hoaglun to the Meridian Utility Billing Review Committee; and Providing an Effective Date 9. Fiscal Year 2025 Financial Audit Report ITEMS MOVED FROM THE CONSENT AGENDA \[Action Item\] DEPARTMENT REPORTS \[Action Item\] 10. Parks and Recreation Commission Annual Update 11. Meridian Fire Department Paramedic School Program Discussion Vacated 12. Memorandum of Understanding Between the City of Meridian and IAFF Local 2311 for Meridian Fire Department Paramedic School Program Vacated 13. Employee Benefits Plan Trust Update EXECUTIVE SESSION \[Action Item\] 14. Per Idaho Code 74-206(1)(f): To communicate with legal counsel for the public agency to discuss the legal ramifications of and legal options for pending litigation, or controversies not yet being litigated but imminently likely to be litigated. Motion to enter executive session made by Councilman Overton, Seconded by Councilwoman Little Roberts. Voting Yea: Councilman Overton, Councilwoman Little Roberts, Councilman Whitlock, Councilwoman Strader, Councilman Taylor, Councilman Cavener Into session: 5:30 PM Out of session: 6:36 PM ADJOURNMENT 6:36 PM Meridian City Council Work Session April 28, 2026. A Meeting of the Meridian City Council was called to order at 4:32 p.m., Tuesday, April 28, 2026, by Mayor Robert Simison. Members Present: Robert Simison, Luke Cavener, Liz Strader, John Overton, Doug Taylor, Anne Little Roberts and Brian Whitlock. Other Present: Chris Johnson, Bill Nary, Steve Siddoway, Christena Barney. ROLL-CALL ATTENDANCE X Liz Strader X Brian Whitlock Anne Little Roberts _X_ John Overton _X_ Doug Taylor _X_Luke Cavener X Mayor Robert E. Simison Simison: Council, we will call this meeting to order. For the record it is April 28th, 2026, at 4:32 p.m. We will begin this afternoon's work session with roll call attendance. ADOPTION OF AGENDA Simison: Next item is adoption of the agenda. Overton: Mr. Mayor? Simison: Councilman Overton. Overton: We need to remove Items 11 and 12 from tonight's workshop agenda. Other than that I move we approve the agenda with those modifications. Little Roberts: Second. Simison: Have a motion to approve the agenda with Items 11 and 12 removed. Is there any discussion? If not, all in favor signify by saying aye. Opposed nay? The ayes have it and the agenda is agreed to as amended. MOTION CARRIED: ALLAYES. CONSENT AGENDA [Action Item] 1. Approve Minutes of the April 14, 2026 City Council Regular Meeting 2. Brundage Estates Subdivision No. 2 Pedestrian Pathway Easement (ESMT-2026-0081) Meridian City Council Work Session April 28,2026 Page 2 of 18 3. Briar Ridge Subdivision No.1 Sanitary Sewer and Water Main Easement No. 1 (ESMT-2026-0094) 4. Records Apartments Sanitary Sewer and Water Main Easement No. 3 (ESMT-2026-0095) 5. Findings of Fact, Conclusions of Law for CenterCal Expansion Subdivision (SHP-2026-0003) by The Land Group, located at 3395 E. Longwing Ln. 6. Fiscal Year 2026 Net-Zero Budget Amendment in the amount of $31,200 for Alive @25 Instructor Grant Funding 7. Fiscal Year 2026 Net-Zero Budget Amendment Request in the Amount of $10,000.00 for Fire Prevention Education Materials 8. Resolution No. 26-2585: A Resolution of the City Council of the City of Meridian Appointing Brad Hoaglun to the Meridian Utility Billing Review Committee; and Providing an Effective Date 9. Fiscal Year 2025 Financial Audit Report Simison: Next is the Consent Agenda. Overton: Mr. Mayor? Simison: Councilman Overton. Overton: I move we approve the Consent Agenda. For the Mayor to sign and the Clerk to attest. Little Roberts: Second. Simison: Have a motion and a second to approve the Consent Agenda. Is there any discussion? If not, all in favor signify by saying aye. Opposed nay? The ayes have it and the Consent Agenda is agreed to. MOTION CARRIED: ALLAYES. ITEMS MOVED FROM THE CONSENT AGENDA [Action Item] Simison: There were no items moved from the Consent Agenda. DEPARTMENT REPORTS [Action Item] 10. Parks and Recreation Commission Annual Update Meridian City Council Work Session April 28,2026 Page 3 of 18 Simison: So, we will move on to Department Reports. Our first item up will be our Parks and Recreation Commission update, which will be delivered by Chair Woman Greer when she is ready. If she needs to take a moment to get ready that is perfectly fine. Appreciate you being here, Jo. Greer: Are you going to be moving the slides for me, Chris? Oh, I can still use it? Okay. I don't have a screen, so -- good afternoon, Mayor, Council Members. Thank you for your -- this opportunity to present the Meridian Parks and Recreation Commission update for 2026. 1 am Jo Greer, I am the chair of the Parks and Recreation Commission and I'm honored to share the progress we have made and our goals for this year. I don't think -- okay. Just want to make sure, because we may have updated this slide, so I want to make sure. Each year the Meridian Parks and Recreation Commission updates its list of goals for the coming year and we have currently identified ten goals we are actively working towards. In this presentation I will briefly tell you about some of the progress we have been making. Okay. Before we review the goals I want to take a moment to recognize a very special member of our Commission family. Last week we lost one of our longest serving commissioners John Nesmith and John served nearly 20 years starting in January of 2006 on the Parks and Recreation Commission. He was recognized just last fall with a plaque for 19 years of loyal dedicated service. John was a true Meridian native born and raised right here in the Treasure Valley. He was a successful businessman with Meridian Automotive, Nesmith Brothers Towing and Gem State Diesel. He was also a passionate race car driver, No. 11. Three time late model champion at Meridian Speedway and a fierce competitor in the regional series. What I remember most is the personal way that John touched my life and the lives of so many others around him. Throughout my entire time serving on the Commission since 2015 John was on the Parks and Recreation -- Recreation Commission. He nominated me vice-chair which follows up with being chair and was incredibly supportive of my growth and leadership and before I was on the Commission I was part of the Christmas in Meridian committee, which I'm still part of, and so he also sponsored some of the trophies and some that he was -- we had to get sponsors back in the day. So, he was helpful with that. He personally mentored me in running a car show over at the College of Western Idaho. He helped me with some car repairs, recommending the right shops and also guided me when I went to purchase a new vehicle. Giving me sound advice on maintenance needs and the ability to not be tied to a dealership. He stayed after meetings when I faced many losses. Offering understanding and comfort during times of grief. He even asked me to help with the landscape design and some of his site work after you updated his building in the Quonset Hut, as you probably all know. He was a person I always looked for at every meeting or event and one I could always visit with here. He was my mentor, my comrade and a very dear friend and I just never imagined to stay in Meridian without a John Nesmith. So, he was also actively involved in pathway related efforts as part of the Parks and Recreation Commission and he participated in the Meridian Pathways strategic advisory work, including the Urban Land Institute panel and Presentation on Pathways. He also served on the City Impact Fee Advisory Committee where he helped review and recommend impact fees to ensure growth pays for its share for parks, pathways and other infrastructure. So, his contributions were significant to many Meridian City Council Work Session April 28,2026 Page 4 of 18 of the accomplishments we are going to be highlighting today. I'm getting through this. Okay. John's steady presence, his practical wisdom and his unwavering commitment to our community will be greatly missed and on behalf of the entire commission I want to extend our deepest condolences to his family and thank them for sharing John with us all through these years. We will carry his spirit forward in everything we do. And while this is my own experience I know there are thousands of stories like this because he was there for everyone in the same way. That's just who he was though. I was really rattled by hearing of this news. So, he was really proud of the work we were doing. And I know that he was specifically part of pathways. We had committees way back when I started on the commission where we would have to meet and go over different areas of the city that we were dealing with and he was on pathways and I know that he was part of the signage for the pathways. So, if you see the signs he was part of that existing, so -- okay. Moving on. Got through it without tears. That's good. Goal number one. It is our top priority this year to participate in the design and programming of the new community center. We have been actively involved from the very beginning. I was even on -- I think the original block -- whatever the -- what we were going to be doing downtown that didn't happen. Our commissioners have attended design meetings, provided resident feedback and participated in the groundbreaking and the project is moving forward beautifully and we are excited for what this will mean for our community. I just drove by there. Dirt moved. So, that's a good sign. That's exciting. And it's been a long time coming. Goal two is to support the development of a connected pathway system across the city with special attention to user experience, amenities and improve connectivity. We are happy to report the progress that we have made so far. I wish I would have brought some more photos. The pathway section under Highway 16 is now finished and we just had a pathways tour last week -- last week -- two weeks ago. Our last meeting. We were on bikes and we rode from Owyhee High School -- right? Owyhee. Down to the trail hub and back I think. But we got -- and my big thing was going under Highway 16, because having, you know, an underpass is kind of a new concept and pretty exciting and my big thing -- I grew up on a farm and it makes me think of like a canal bridge and the canals were always full, so we were not allowed around them, but when the water was out I always liked to go explore, because -- so, I was fascinated with going underneath this overpass or underpass and if you have not been down there I would just recommend that you take a stroll. The construction is massive. There is a lot of concrete. So, I'm a construction nerd. It was pretty exciting to see. Also construction started on the Rail With Trail Corridor segment. Again this is something from way back when I started that was -- it was spoken of and mentioned. There was a lot of -- there were a lot of people involved in getting it going, but it hadn't really made any progress at that time and, honestly, when I would listen to people present it didn't sound like it was going to move anywhere. So, to be standing there -- we actually went to that site to check it out and there is construction. There is a part of the segment for Rails With Trails started. So, it's really exciting. And, of course, the Five Mile Creek Trail Hub restroom will be installed in the near future. They also had that cleared and ready to go for the restrooms. So, these improvements are already making our trails safer and more enjoyable for everyone. I think -- just wanted to make a note that Kim Warren is our pathways specialist. I know that she had a lot to do with most of these things happening, so we are really fortunate Meridian City Council Work Session April 28,2026 Page 5 of 18 to have her. Goal three is feeding off of that one. It is to participate in the development of the Pathways Master Plan update and the updated plan is in its final stages. It was presented to the commission for our feedback and final edits are being completed. This plan will guide pathway developments of course for years to come. Goal number four is to continue providing feedback for ongoing park improvements and enhancements. This year we have already seen a new sidewalk in Fuller Park that creates a much safer walk to school. The brand new Ninja Style Challenge course at Discovery Park and expanded Discovery Dog Park and a new shade structure at Kleiner Community Garden. Shade structures was also one of the committees that was with pathways way back then, so it's exciting -- this is just an addition to the other shades out there. So, it's -- I don't know. It's pretty remarkable to have been here from the beginning of some of these things just being in the discussions. Each of these enhancements came directly from resident input and commission recommendations. Goal five is partnership with the Meridian Arts Commission to add theming and identity -- identity reinforcing art in our parks and along pathways. We are pleased to see new themed public art installed at Chateau Park and one of our parks commissioners continue to serve on the art selection committee for the new community center and, then, if we do have art or anything that comes up for the art selection committee or the commission typically whoever is chair gets to be part of that. So, I have been able to participate in some of the art pieces, which is really exciting. It's just another avenue that you get to be part of. You know, I love Meridian. And so these pieces are already becoming beloved landmarks. And goal six to support future improvements at Lakeview Golf Course. Pond improvements have been completed and on course restrooms are now installed and coming very soon is a new iron fence along Black Cat Road. Smoothing out Club House Drive and rebranding the new signage and these upgrades will enhance both the player experience and appearance of this community gem. I don't know if you guys are golfers. I am, so it's pretty exciting. Goal seven is to pursue a future park site in northwest Meridian's Fields District and we are pleased to report that the land purchase for this future site has been completed. This is a major step towards serving the growth -- or the growing northwest part of our city, which is where I live, so for me it's -- these are all kind of great for me honestly. Goal number eight. So, this is to engage other task force commissions, entities and agencies through workshops and outreach to partnership opportunities. We have strengthened relationships with the Arts Commission, Meridian Library District, Meridian Food Bank, Idaho State Parks, as well as other cities, other agencies with their parks and rec. We get reports from them and I know there is a lot of communication between our parks and rec department and the other cities to try to bring together -- especially like the pathways, so that we have interconnectivity between the different areas, so those are always kind of fun, because it also -- if you sit in on one of those meetings you actually get to see like how far ahead Meridian is and all of this just from all of the effort that's been put forth to connect both sides. Okay. Number nine. This is to support ongoing operations at the Meridian pool. This year the team has rebuilt the starting blocks, refurbished the old pool motor, reduced operational costs and had one of the best staffing years ever and the pool continues to be a favorite summertime destination for families in Meridian and it also is a lot nicer to look at since it was being handled by -- I know Garrett White usually gives a lot of reporting on the pool, so I know he is really involved. Goal ten. This is to Meridian City Council Work Session April 28,2026 Page 6 of 18 pursue improved communication tools and opportunities to engage the community in diverse interests. We recently added an interactive pathways map to the city website making it easier than ever for residents to find and explore a trail system. So, if you have an opportunity to go look at that. Race through that one, but -- so that is -- those are our community goals, our -- are all commission goals for this year and every year we go through these and kind of re-prioritize depending on kind of what's happening. So, if something didn't happen last year we pushed it to the next list or sometimes something doesn't happen and it gets removed or it's not relevant any longer, so -- yeah. So, do you have any questions? Simison: Thank you -- thank you, Jo. Council, any questions? Little Roberts: Mr. Mayor? Simison: Council Woman Little Roberts. Little Roberts: Mr. Mayor. Jo, first of all thank you so much. The commission does an amazing amount of work and is greatly appreciated and appreciate your work as chair. And thank you for the tribute to John. That was greatly appreciated. So, can you tell us any more about rebranding Lakeview? Greer: That would probably be a Steve answer. Siddoway: Test. Test. Okay. We did take this to the Commission back in March with the presentation. We are zeroing in on a -- a new logo and things to do some new signage with that will be coming to the Council, but we are -- we got some feedback from the commission. We have taken that back to the consultants. We are not completely settled internally that we are ready to bring it forward. So, there is still some -- some ongoing work, but I would expect to see it in the coming months. Simison: Council, any additional questions? Cavener: Mr. Mayor? Simison: Councilman Cavener. Cavener: Thanks, Mr. Mayor. Chairman Greer, again, thanks -- thanks for being here. One, for the report and, two, for a great tribute. It was just -- it was great. Really really great and your ability to continue on amazes me. I would have been in a puddle, so I appreciate that. My question is just very simple. I love our parks commission and they are always enthusiastic about kind of the next big thing, some of the things that you guys are kind of dreaming of, conceiving of, can you give Council a flavor like what are the things that gets Chairman Greer excited about our parks commission moving forward? Simison: Microphone is not working. Meridian City Council Work Session April 28,2026 Page 7 of 18 Greer: Chris is really on it. So, you are getting a test today, Chris. Honestly, when we have things brought to the commission that we have a request for input, that's probably the thing that gets us going the most, because, you know, as a commission we hear from a lot of different agencies or we hear staff reports and so we have a general idea of what's going on. So, things that are new or upcoming that's when we get excited I think. A new park is exciting, because when -- when I started we were opening parks -- I don't know how many. We have opened quite a few. Which I always go take pictures, photos of the plaques; right? Because on the restrooms if you are on the commission you need one there. Same as City Council, but -- so, yep. Which I took one at the last -- at our last trip. So, I think -- I mean it's mainly just knowing that even though we have a really good system set up and it -- just a good parks situation in general, that there are still future parks, you know, in -- that are in the planning or as part of the future overall planning. Simison: Council, anything -- anything else? Okay. Thank you, Jo. Appreciate you. Greer: Yeah. Thank you. I -- I didn't -- I held it together, because I was -- I had already been crying for two days, so -- I was worried, but -- Simison: We -- we appreciate you -- yes. Okay. Council, we are going to take a five minute break, so we can reset some of the AV issues in the room. So, standby. (Recess) 13. Employee Benefits Plan Trust Update Simison: All right. We will go ahead and come back from our break and we will move on to Item 13, which is the employee benefits plan trust update, which I'm not sure if this would be done by Mr. Howell or Christena or who wants to kick it off? Okay. Councilman Taylor. Taylor: Just before this just wanted to -- quick disclosure. I do some contract work with Regents Blue Shield strictly related to state level lobbying services. I did have our city attorneys do a conflict of interest check and analysis, which we have done today and found no conflict of interest. So, I'm comfortable participating in the discussion and any future votes. But wanted to disclose that and if you have any questions happy to answer any. Simison: Thank you. Cavener: Mr. Mayor? Simison: Mr. Cavener. Cavener: Just real quick is -- I think it's been consistent when we have had a -- a trust presentation I would just like to put on the record that my wife is the director of Meridian City Council Work Session April 28,2026 Page 8 of 18 government affairs for Regents. Her responsibilities include representing Regents on state issues and lobbying at the state level on public priorities on behalf of Regents and their industry. Her tasks do not include soliciting business from local government agencies responding to RFP -- RFPS on behalf of Regents or making decisions about whether to pursue new accounts. Her role does not put her in position to vote or otherwise influence any decisions to bid or accept a bid on a particular account. She has a set -- a fixed salary and receives no commission salary, increases or bonuses when Regents obtains new accounts. I think, Council, I have committed to providing that disclosure after meeting with the city attorney's office last year. I will continue to do that at every point that we have a trust presentation. If any member of the Council feels that I need to recuse myself, I'm -- I'm happy to take that under advisement as well. Simison: Thank you, Councilman. Anyone else? All right. We are good. Barney: All right. Thank you, Mayor and Council, for having us this evening. This is our quarterly trust update. We committed to you last year to provide quarterly updates following the quarterly submissions to -- submissions to DOI. So, as we move through this this first slide is a snippet of the actual filing with the Department of Insurance. So, what you are looking at is a reconciliation of our surplus. So, it shows the total surplus at the beginning of the year and, then, it also shows the prior year in comparison. The total net gain or losses for that period, any additional surplus that's received -- so that was the 1 .5 million that the Council approved and, then, the total surplus at the end of the quarter, which is at 2.5 million. And, then, the next slide is the adequate -- adequacy of the surplus. So, it's showing the total surplus at the quarter end, the minimum surplus required and, then, any excess or deficit in that surplus. Howell: So, that's the first update in a while where there has been an excess there. So, thank you for working with us last year on -- on that contribution to surplus. Just as an update on the utilization so far this plan year, our medical and pharmacy claims are down and this is just in the two months January and February of the current plan year. Medical and pharmacy claims are down 15 percent compared to the 2025 plan year. Medical on its own is down 23 percent. Pharmacy is up five and a half percent. We just have two claimants so far in this plan year who have exceeded 50,000. Neither of them have exceeded our stop loss. They are -- they are both still under a hundred thousand. Yeah. I think it went -- between the improved claims experience and also some increased funding for the 2026 plan year and some minor benefit changes that were made, our loss ratio that is our expenses, claims and administration expenses, compared to our funding, is at 89 percent. Anytime that number is below a hundred we are adding to surplus, which is a refreshing start to -- to the year. It's hard to tell too much of a story based on two months of experience, so looking at the -- at the last rolling 12 months our total costs are up 1.3 percent. Claims costs are up 4.9 percent. Those numbers are both -- they both smoothed out a lot in recent months. We had some more extreme volatility than that with large claims as you will recall in the -- in the prior period. Primary cost drivers continue to be outpatient services and high cost specialty medications. The highest cost of those continued to be cancer related, looking back at -- at the past 12 months. This slide is a summary of the 2025 plan year Meridian City Council Work Session April 28,2026 Page 9 of 18 experience where our -- our net loss ratio, again, the plan costs compared to our funding was at 117 percent. Yeah. Which we have -- yeah, we have talked through the -- the reasons for that in the past. Again with the funding changes, some benefit changes and just some improved experience down to 89 percent so far this plan year. This chart just represents the -- the Department of Insurance required reserve and surplus. The blue line that for the most part floats above that green shaded area. The green shaded area is the -- represents the total required reserve and surplus by DOI. The blue line is our actual -- the actual assets of the trust. Again, with the claims experience, taking a -- a sharp turn last year we dipped below that, but as Christena presented as of the last quarter we do have a -- we are in excess of the surplus requirement. The department does require that we maintain that -- that surplus and that we stay in excess of their -- of their requirement on a -- on a monthly basis. We file with them every quarter. So, that's -- that kind of coincides with the updates that we make here, but the goal is to -- and the requirement is to maintain that surplus month to month. Going into this next section, just want to define a few terms that we will use. Each year as we work with the trust to make decisions on benefits and funding for the upcoming year, a few things that we consider. One of them is benchmarking where we compare our benefits and our benefit costs to other agencies in the area. That's work that Gallagher does on behalf of the trust, as well as other agencies that we represent. Actuarial review. So, Gallagher actuaries perform an actuarial analysis of prior claims, apply trending to -- to project funding needs for the coming year. Those numbers are used to set rates and are approved by the Department of Insurance each year when we file. Market check. We had some discussion on this a couple of meetings ago. The last time we -- we did this process was 2019. This is where we will approach other carriers or third-party administrators in the market to make sure that we are receiving competitive rates on our administration fees, on our stop loss premiums, that -- the network discounts that we receive by partnering with them for access to their provider network are competitive. Just to ensure that -- that we are getting the -- the best deal possible, that our partnership with -- with that administrator and that carrier are a benefit to the trust and to the participants in the plan. So, we use the term market check. I will say that in our office the terms market check and RFP often are used interchangeably. However, in a -- I think especially in a government setting or in any -- any entity that -- that has a procurement department, RFP can kind of take on a -- a little bit of a bigger meaning and so that's -- that's why we kind of distinguish those terms here. When we talk about a market check we are -- we are talking about a process where we approach other carriers in the market to give us the intelligence of an RFP without some of the disruption and cost and -- and risk that can come with -- with what we often think about as a full blown RFP involving, you know, procurement. What the market check does well is testing the competitiveness of the admin fees, stop loss rates and network discounts that we are receiving. It validates some assumptions on trend and claims performance. Allows us to get some benchmarking from the carriers that we talked to. It applies pressure on our current vendors to -- to sharpen pricing if we find that there are other partners in the market that are willing to -- to be a little bit more competitive and it targets those specific levers of stop loss, pharmacy benefit management, third- party administration fees, instead of, you know, opening up the entire contract. Those -- those three in particular are where we find all of the savings to -- to be driven through Meridian City Council Work Session April 28,2026 Page 10 of 18 the process. Again the -- that full blown RFP that we often think about, especially in -- in government setting, that formal procurement and public bid process can invite proposals from vendors that aren't realistic options in our market. The rules of that process will often limit the ability to interact with vendors throughout the process and have meaningful dialogue and -- and questions and negotiation throughout the process. Creates lengthy questionnaires, administrative work on issues that our team already understands and, lastly, with the trust being a separate entity from the city, a procurement style RFP is typically not the best fit for this kind of review. So, our plan is to move forward with a -- with a market check where we do request proposals from -- from those vendors, but -- but with that more focused efficient data-driven process that -- that's typical of us with our clients, the -- through that process we can demonstrate due diligence, work with our actuaries to validate results and projections and get the best -- the most competitive rates that are available in the market through that process without some of the unnecessary disruption of -- of the full -- full blown RFP. So, our plan is to complete that market check over the next month and use the results in the projections that we will be making this summer for the 2027 plan. Anything you would add, Christena? Any questions? Simison: Thank you. Council, questions? Council Woman Strader. Strader: Thank you. Interesting. It's changed. Okay. I do have a number of questions, but one thing I -- I thought was important -- I was really glad and, actually, from some discussions with my colleagues that we asked for some of the correspondence back and forth between the trust and the Department of Insurance, because that to me -- to me I think these quarterly updates -- at least as a decision maker or someone who has input, right, that -- I understand that the trust is a separate entity from the City of Meridian, but certainly we have I think an important role in oversight. I guess my -- my expectation for quarterly updates is that it's not just a continuous discussion of market check versus RFP, but that like if you have some significant findings from the Department of Insurance, like an audit finding or other issues that that would be surfaced regularly and we should -- I don't think --just to provide candid feedback and in the spirit of being collaborative, I don't think we should have to request that. I think that those pieces of information should just be surfaced in a very transparent way, so that we can get our arms around it. I wanted to understand the audit process better. It's a five year audit. Does that mean it's done on a rolling five year basis and it's an annual audit or is it an audit every five years? Can you walk us through some of the findings around governance? And I have more detailed questions about our financial counterparties and stuff with finance, but if you could start there. Barney: Council Member Strader, so to be abundantly clear, I -- I thought I had put it in the e-mail. The findings are preliminary. So, we are still in the audit process. They are going through our records doing checks on various different claims and how they are processed, our internal processes as a trust, so some of those things may not actually make it to the final determination. It is absolutely our intent to bring that final determination and any findings in that to the Council for them to review. We do -- also do an annual audit. So, Eide Bailly does an annual audit on our trust. DOI does require Meridian City Council Work Session April 28,2026 Page 11 of 18 a five year audit, so it is every five years they go through and they hire a third party. So, that third party is not only auditing us as a trust, but DOI's practices and how that applies to our trust. So, some of those findings may be related to us and our processes, but it also may be related to DOI and their processes. Does that help? Strader: Mr. Mayor? Simison: Council Woman Strader. Strader: It -- it does help. I -- I guess when would we have -- when would the appropriate time be to have this conversation, then, regarding the audit findings? Like when will the audit be finalized and when do you think is the right time to have that conversation? Barney: We are hoping to get the audit finalized for the next couple of weeks. We are waiting for some of our vendors to provide the claim information that the auditor is requesting. As soon as they get that they can finalize that and, then, we will bring it back before you. Strader: Mr. Mayor? Simison: Council Woman Strader. Strader: The timing is a little bit odd to me, just because I feel like if we are going to receive some audit findings and that's material to me, that's a material due diligence item as a decision maker, wouldn't it make more sense to do this kind of a quarterly update after we have those findings, so we could have a discussion about them? Do you feel uncomfortable discussing the preliminary -- and just be honest about where you are at? Do you feel uncomfortable discussing the preliminary findings? Should we revisit this in a couple of weeks once you have a chance to work through that? I just wanted to get everybody's opinion about that, because some of the preliminary findings are significant and raise questions for me. Barney: So, it was our intent to come back after the quarterly report that we file with DOI on the financials. That was the commitment that we made to Council. We were hoping that the audit would be completed by the time we came to this meeting. However, it has not. We are experiencing some issues with some of our carriers getting the claims that they are requesting. So, we are working through that. Ideally we would have been able to bring both before you and have this conversation, but because they are preliminary and they may not make the final I don't know that I can speak to that right now on behalf of the trust, because I am only one member of that trust board. Simison: And I think just to be fair, since we don't control when it's done, we -- they can say two weeks, it could still be another month. We can hope, but not guarantee. Barney: We were hoping the end of February, but we are now in the end of April. Meridian City Council Work Session April 28,2026 Page 12 of 18 Strader: Mr. Mayor? Simison: Council Woman Strader. Strader: And just so I understand, the -- maybe what would be helpful is -- I think we will have a chance during open meeting topics, but this will come up in open meeting topics for me as a follow up for sure. I -- I don't want to put you in a position of discussing preliminary findings that you are not prepared to discuss. I don't think that that would be fair. But I do expect -- I think it's quite reasonable -- like some pretty detailed follow up about the governance, things that have come up in -- in the communication back and forth, as well as understanding how -- you know. And I'm hoping at least the finance team is looped in to some of the trust's work with some of the concerns around, you know, where our accounts are held, our counterparties, FDIC limits, like some of these questions. So, can -- can you talk about that? Is Todd Lavoie's team looped into this? Where are we at with that? Barney: So, from the very beginning the Finance Department has decided that they were not going to be a part of this trust. So, that's the reason that I did not loop the memo on this. That being said, a lot of these findings we determined we needed legal counsel to help us navigate. Unfortunately, about six months ago our trust legal counsel left us and so we have been in the process of finding new legal counsel who is actually here today. Allan Bosch. So, as we get that counsel on board now we can start to address some of these findings and absolutely will bring, you know, whatever resolution that is back to Council. Strader: Mr. Mayor? Simison: Council Woman Strader. Strader: Is there any background on the departure of our previous legal counsel? Was that -- was -- was that for any specific reason? I hope it's not because of us. Like I just want to make -- make sure I understand the background on why our previous legal counsel is not supporting that. Simison: Counsel Nary. Johnson: Bill, your microphone -- sorry. I don't think your microphone's on. Nary: Oh. Strader: Our new system. Sorry. Nary: There we go. I thought I had them on. Mr. Mayor, Members of the Council, Council Member Strader, so we had a disagreement with our prior counsel over a billing issue and he sent us an e-mail saying I'm -- I'm going to step away and separate from the trust. So, that's why we have been in the process. We just hired Mr. Bosch at our Meridian City Council Work Session April 28,2026 Page 13 of 18 last meeting. So, he has been on board with us now for a few weeks and so we -- he is aware of some of this. He was at our last meeting. He is aware of the questions that were raised by the Department of Insurance, that they needed answers to, which we have provided. So, he has been involved for the last few weeks with us, so -- Strader: Uh-huh. Mr. Mayor? Simison: Council Woman Strader. Strader: Just to react to all of that, I -- I think it would be more appropriate to have this discussion in a couple of weeks when -- when we have a -- a better sense of the audit and can ask follow-up questions. I -- I just -- I think that that's really important and I'm happy to take this off line with you all. And -- and with -- I would like to still discuss it with the finance team. I understand that they have opted out. I know if they are allowed to opt out from things like this, but we definitely want to chat with them as well and get their take on a couple things. Thanks. That's it for me today. Simison: Okay. Cavener: Mr. Mayor? Simison: Councilman Cavener. Cavener: Recognizing that we are going to be talking about DOI at a later point in time, I do have a -- maybe a handful of questions about commitments that have been made by the trust over the past year and just trying to get an update on all of them. So, I can take them maybe one at a time if that's helpful. I know on April 22nd trust committed to improving outreach to employee dependence. I'm just curious how that's going and what the results are. Barney: I don't directly deal with that. That's something that I coordinate in my office. So, I will have to get back to you on what the status is on that. Cavener: Okay. Mr. Mayor, how about -- can you give us an update on the employee satisfaction survey? What were some of the top line results? What are the things you guys are most proud of? Barney: We are still processing those results. I believe the survey was -- ended about a week ago, so we are still processing those results, but we can bring that back to you as well. Cavener: Do you know when that survey was initially conducted? Barney: About a month ago. Meridian City Council Work Session April 28,2026 Page 14 of 18 Cavener: Okay. Mr. Mayor, how about -- can you give us an update on the GLP drug utilization data? Howell: Yeah. I'm just flipping to the -- to that information in our latest report. So, in this plan the GLP ones are not covered for weight loss, just for diabetes. Looking at our top drugs over the last 12 months, Mounjaro, which is a GLP, is our number three -- the number three top high cost drug spend with 169,000 dollars and 147 prescriptions over the last 12 months. Ozempic comes in at number nine with 55 prescriptions and just under 60,000 dollars in the last 12 months and those are the only two that I see off the top here. Cavener: Thank you for that. That's really good data. I appreciate that. I know one of the things that came up I think in our October hearing was about some proactive outreach to employees who work on shifts to be able to attend trust meetings. What's been the result of that? What's been the communication and has that resulted in greater employee attendance? Nary: Mr. Mayor, Members of the Council, I -- I guess I'm not -- I'm not totally sure what that commitment was. I mean we do notice all of the meetings, but I don't know. We -- we don't -- so, we didn't do anything more than that. I don't know what other -- I don't know other -- I don't know. We have never discussed what else we would do to -- to reach out to that. So, I don't know. Cavener: Mr. Mayor, in the -- in the January 24th meeting -- so, Council, for your benefit through a course of actions I spent a significant time going through all the minutes today and what came to me is -- is a handful of I think of commitments that have been made to the Council that either -- they -- they occurred and they just weren't circled back or maybe didn't happen. So, Mr. Nary -- and it's okay, I wouldn't expect you to recall almost a year ago, but during the -- the June 24th I think it was Council Member Little Roberts inquired about being able to support employees that don't work a traditional 8.00 to 5:00, for their ability to participate and attend and I think you and your office committed to doing some proactive outreach to find a mechanism to support those employees who work on shift work and I'm happy to highlight that and send it to you offline. I just was going through the list and trying to keep track of all the bouncing balls in terms of commitments that have made that likely have -- have occurred, but we just maybe haven't been informed about them. Nary: And we can certainly add that to our agenda for our meeting for a discussion on how would we do that, because, again, we notice all of the meetings and we do provide that notice publicly, but individually are separated to those that work off the normal 8:00 to 5.00 type of shift we haven't done any of that. So, we could add that as a conversation. Cavener: And, then, in October there was a request made to evaluate cancer specific cost management program for 2026. How is that program coming along and when do you anticipate being able to share the results with Council? Meridian City Council Work Session April 28,2026 Page 15 of 18 Howell: We are currently evaluating cancer and other cost management programs for the upcoming plan year. We are -- we have presentations scheduled with -- it's actually with the committee I believe with a number of vendors, so we should have updates on -- on those presentations over the next month or two. Cavener: Okay. Then I guess maybe my last question just -- can you give us a little bit more of a flavor about the timeline around this pulse check process, when it's set to begin, when conclusions will be made, when those conclusions will be shared with the Council? Howell: Yeah. So, the -- I think we were waiting for this meeting to just confirm that our intent on the market check. Our intent is to start that probably this week and have it completed within about a month after that. So, we have updates to the -- to the committee and the trust and for Council I would say by end of May, first of June on -- on those results. Cavener: Great. And those results will be provided to us at that time or will those results be held and, then, provided at the next quarterly update? Barney: I would ask what the Council's desire is. I'm happy to provide that information as it becomes available or we can hold off until the next quarterly meeting. That being said, we expect that -- the audit to be done soon and so we could couple it with that if the timing's right. Cavener: Mr. Mayor, just -- Simison: Councilman Cavener. Cavener: -- my quick response on that is I think timeliness should be the default. Particularly related to the -- the -- the findings from the Department of Insurance and I would hope that when those results are received that those are sent to the Council immediately expedited. Likewise when it comes to the pulse check and whatever recommendations that the trust is looking to fall through on, I think those should be shared with the Council immediately, especially because that will have a budgetary impact as we move into the budget season. I would hope that we are, again, defaulting to expediting this information in a very transparent and an expeditious manner to the Council. Simison: Well, I -- I can speak on behalf of the -- I think the trust understands that this is one of two major issues impacting this budget and the budget when it gets delivered to Council will be scaled, because we won't have the answers to these questions going into when a budget book would need to be printed with information. Cavener: Mr. Mayor, if -- if I may. Simison: Councilman Cavener. Meridian City Council Work Session April 28,2026 Page 16 of 18 Cavener: I -- I agree a hundred percent with you. Feedback I -- I received today is that maybe Council isn't as deliberate providing that directness about what communication flow should look like. So, I'm trying to be responsive to that feedback that I have received and make sure that there isn't any question about that I think the Council should have that information ASAP and not held to a later presentation or to a -- a quarterly update. Simison: Council, any additional questions at this time? Okay. Thank you very much. Barney: For clarifying, then, so -- Simison: Yes. Barney: -- when we provide that information is it just simply sending an e-mail to Council? Do you want it on the agenda? What format would you like that in? Cavener: Both. Sorry, Mr. Mayor. Mr. Mayor, I -- I think that this is a matter of -- of the public's interest as well. So, certainly an e-mail to the Council, but that being included as part of the -- the agenda packet for the public to be able to review is to me a best practice. Barney: Thank you. Strader: Mr. Mayor? Simison: Council Woman Strader. Strader: I think it would be good for us to have an in-person meeting. I mean I think we can all discuss offline with the City Council president and the Mayor about future agendas, but it -- it just -- it feels to me like this is a pretty normal process like in the sense that we are in some growing pains, because we have established a newer entity and a new approach and it's been a couple of years, but I think we are having some growing pains that are pretty normal, but that are important around our governance and how we are managing the financials and the trust and just a lot -- kind of a combination of factors that make it so that it would be really smart for us to have a meeting. I think when those audit results are ready and hopefully around the same time you have this market update kind of feedback. Maybe we could just have a discussion on an agenda. That would be my suggestion, just so we could really get our arms around it. It's not about -- I -- I just want to kind of reset it. For me at least it's not about, you know, we all have things you can improve and the City of Meridian is indirectly responsible for this entity and it's hard, because we don't govern it directly, we govern it indirectly, creates some frustrations and some challenges, but I think it's still really important that we get our arms around these things as a team and it's not about blaming anybody, but it's really about I think accountability and transparency and just we are all going to level up together, but it -- it's very obvious to me at least from just the preliminary communications that we have things we can improve and that that's a great opportunity. Meridian City Council Work Session April 28,2026 Page 17 of 18 So, I think having an in-person meeting is a -- is a great idea and hopefully we have time to add it to an agenda. I know things are really busy, but that would be my suggestion. EXECUTIVE SESSION [Action Item] 14. Per Idaho Code 74-206(1)(f): To communicate with legal counsel for the public agency to discuss the legal ramifications of and legal options for pending litigation, or controversies not yet being litigated but imminently likely to be litigated. Simison: Okay. Well, we will see you back at some point in time in the near future when we have the information to share. Okay. With that item 14. Overton: Mr. Mayor? Nary: Mr. Mayor, do you want to take the exec session now? Mr. Castleton is here or we can do it at the -- Simison: That's -- that's what we are doing. Nary: Okay. Simison: Councilman Overton. Overton: Mr. Mayor, I move that we move into Executive Session for Idaho Code 74- 206, subsection (1)(f). Little Roberts: Second. Simison: Have a motion and a second to go to Executive Session. Is there discussion? If not clerk call the roll. Roll Call: Cavener, yea; Strader, yea; Overton, yea; Little Roberts, yea; Taylor, yea; Whitlock, yea. Simison: All ayes. Motion carries. We will go into Executive Session. MOTION CARRIED: ALLAYES. EXECUTIVE SESSION: (5:30 p.m. to 6:36 p.m.) Overton: Mr. Mayor? Simison: Councilman Overton. Meridian City Council Work Session April 28,2026 Page 18 of 18 Overton: I move that we come out of Executive Session. Whitlock: Second. Simison: Have a motion and a second to come out of Executive Session. All in favor signify by saying aye. Opposed nay? The ayes have it and we are out of Executive Session. MOTION CARRIED: ALLAYES. Overton: Mr. Mayor? Simison: Councilman Overton. Overton: I move that we adjourn our workshop. Whitlock: Second. Simison: Have a motion and a second to adjourn our workshop. Is there any discussion? If not, all in favor signify by saying aye. Those opposed nay? The ayes have it. We are adjourned. MOTION CARRIED: ALLAYES. MEETING ADJOURNED AT 6.36 P.M. (AUDIO RECORDING ON FILE OF THESE PROCEEDINGS) MAYOR ROBERT E. SIMISON ATTEST: 5-12-2026 CHRIS JOHNSON - CITY CLERK E IDIAN,,z - AGENDA ITEM ITEM TOPIC: Approve Minutes of the April 14, 2026 City Council Regular Meeting Meridian City Council April 14,2026 Page 74 of 74 Roll Call: Cavener, yea; Strader, yea; Overton, yea; Little Roberts, yea; Taylor, yea; Whitlock, yea. Overton: We have all ayes votes on 18. It is also continued to June 16th of 2026. MOTION CARRIED: ALLAYES. FUTURE MEETING TOPICS Overton: That brings us to the end. Do we have any future meeting topics, Council? If there is no future meeting topics, do I have a motion to adjourn? Cavener: Council President Overton, move we adjourn. Little Roberts: Second. Overton: We are adjourned. Thank you. MEETING ADJOURNED AT 10:09 P.M. (AUDIO RECORDING ON FILE OF THESE PROCEEDINGS) MAYOR ROBERT E. SIMISON 4-28-2026 ATTEST: CHRIS JOHNSON - CITY CLERK 4-28-2026 E IDIAN,,z - AGENDA ITEM ITEM TOPIC: Brundage Estates Subdivision No. 2 Pedestrian Pathway Easement (ESMT- 2026-0081) Ada County Recorder Trent Tripple 2026-029944 Project Name or Subdivision Name: Boise,Idaho Pgs=8 vbailey 04/29/2026 08:01:13 AM CITY OF MERIDIAN IDAHO$0.00 Brundage Estates Subdivision No. 2 Electronically Recorded For Internal Use Only Record Number: ESMT-2026-0081 PEDESTRIAN PATHWAY EASEMENT THIS Easement Agreement made this 28th day of April 2026 between L.C. Development, inc. ("Grantor")and the City of Meridian,an Idaho Municipal Corporation("Grantee"); WITNESSETH: WHEREAS, Grantor is the owner of real property on portions of which the City of Meridian desires to establish a public pathway; and WHEREAS, the Grantor desires to grant an easement to establish a public pathway and provide connectivity to present and future portions of the pathway; and WHEREAS, Grantor shall construct the pathway improvements upon the easement described herein; and NOW, THEREFORE, the parties agree as follows: THE GRANTOR does hereby grant unto the Grantee an easement on the following property, described on Exhibit "A" and depicted on Exhibit "B" attached hereto and incorporated herein. THE EASEMENT hereby granted is for the purpose of providing a public pedestrian pathway easement for multiple-use non-motorized recreation, with the free right of access to such facilities at any and all times. TO HAVE AND TO HOLD, said easement unto said Grantee, its successors and assigns forever. THE GRANTOR covenants and agrees that Grantor shall not place or allow to be placed any permanent structures or obstructions within the easement area that would interfere with Grantee's use of said easement, including, but not limited to, buildings, trash enclosures, carports, sheds, fences, trees, or shrubs. IT IS EXPRESSLY UNDERSTOOD AND AGREED,by and between the parties hereto, that the Grantor shall repair and maintain the pathway improvements. THE GRANTOR hereby covenants and agrees with the Grantee that should any part of the easement hereby granted become part of, or lie within the boundaries of any public street, Pedestrian Pathway Easement Page 1 Version 01/01/2024 Instrument # 2026-029944 04/29/2026 08:01:13 AM Page 2 of 8 then, to such extent such easement hereby granted which lies within such boundary thereof or which is a part thereof, shall cease and become null and void and of no further effect and shall be completely relinquished. THE GRANTOR does hereby covenant with the Grantee that it is lawfully seized and possessed of the aforementioned and described tract of land, and that it has a good and lawful right to convey said easement, and that it will warrant and forever defend the title and quiet possession thereofagainst the lawful claims of all persons whomsoever. IN WITNESS WHEREOF, the said Grantor has hereunto subscribed its signature the day and year first hereinabove written. GRANTOR: L.C. Development,Inc. STATE OF IDAHO ) ) ss County of Ada ) This record was acknowledged before me on 3 date) by Allen Lee Centers on behalf of L.C. Development, Inc., in the fo11 wi g capacity: President. Notary Stamp Below iui+////ij M� lyZ51 -�o otary Signature MY COMMISSION My Commission Expires: EXPIRES 8-1&2030 IF /1�/ N1Mg ����� Pedestrian Pathway Easement Page 2 Version 0 1/0 1/2024 Instrument # 2026-029944 04/29/2026 08:01:13 AM Page 3 of 8 GRANTEE: CITY OF MERIDIAN Robert . Sim son, ayor 4-28-2026 j � SEAL Attest by C is Johnso���;"`��ity Clerk 4-28-2026 STATE OF IDAHO ) ) ss County of Ada ) This record was acknowledged before me on 4-28-2026 (date) by Robert E. Simison and Chris Johnson on behalf of the City of Meridian, in their capacities as Mayor and City Clerk,respectively. Notary StanlD Below Cha&YcW" CHARLENE WAY Notary Signature 3-28-2028 COMMISSION No. 67390 My Commission Expires: NOTARY PUBLIC STATE OF IDAHO Pedestrian Pathway Easement Page 3 Version 01/01/2024 Instrument # 2026-029944 04/29/2026 08:01:13 AM Page 4 of 8 Exhibit "A" Le-gal Description City of Meridian Pathway Easements Brundage Estates Subdivision No. 2 Easements being over a portion of the of the W1/2 of Section 25, Township 3 North, Range 1 West, Boise Meridian, City of Meridian, Ada County, Idaho, and more particularly described as follows: EASEMENT Commencing at an Aluminum Cap monument marking the northwest corner of the SW1/4 of said Section 25, from which an Aluminum Cap monument marking the southwest corner of said SW1/4 bears S 0'3 1'26" W a distance of 2652.53 feet; Thence S 67123'15" E a distance of 1044.42 feet to the POINT OF BEGINNING; Thence S 41124'36" E a distance of 13.00 feet to a point; Thence S 48135'24" W a distance of 2.50 feet to the beginning of a tangential curve; Thence a distance of 9.83 feet along the arc of a 106.50 foot radius curve right, said curve having a central angle of 5117'16" and a long chord bearing S 51012'49" W a distance of 9.82 feet to a point of reverse curvature; Thence a distance of 70.93 feet along the arc of a 393.50 foot radius curve left, said curve having a central angle of 10119'39" and a long chord bearing S 48041'36" W a distance of 70.83 feet to a point of reverse curvature; Thence a distance of 71.80 feet along the arc of a 406.50 foot radius curve right, said curve having a central angle of 10107'14" and a long chord bearing S 48035'24" W a distance of 71.71 feet to a point of reverse curvature; Thence a distance of 70.93 feet along the arc of a 393.50 foot radius curve left, said curve having a central angle of 10019'39" and a long chord bearing S 48029'12" W a distance of 70.83 feet to a point of reverse curvature; Thence a distance of 7.83 feet along the arc of a 106.50 foot radius curve right, said curve having a central angle of 4012'40" and a long chord bearing S 45025'42" W a distance of 7.83 feet to a point; Thence N 41124'36" W a distance of 13.00 feet to the beginning of a curve; Thence a distance of 6.63 feet along the arc of a 93,50 foot radius non-tangent curve left, said curve having a central angle of 4103'51" and a long chord bearing N 45021'18" E a distance of 6.63 feet to a point of reverse curvature; L4 City of Meridian Pathway Easements 1,Lj, Brundage Estates Subdivision No.2 Land Sumeying and Consulting Job No.24-36 Page 1 of 3 Instrument # 2026-029944 04/29/2026 08:01:13 AM Page 5 of 8 Thence a distance of 73.27 feet along the arc of a 406.50 foot radius curve right, said curve having a central angle of 10119'39" and a long chord bearing N 48129'12" E a distance of 73.17 feet to a point of reverse curvature; Thence a distance of 69.51 feet along the arc of a 393.50 foot radius curve left, said curve having a central angle of 10007'14" and a long chord bearing N 48035'24" E a distance of 69.42 feet to a point of reverse curvature; Thence a distance of 73.27 feet along the arc of a 406.50 foot radius curve right, said curve having a central angle of 10019'39" and a long chord bearing N 4804 V36" E a distance of 73.17 feet to a point of reverse curvature; Thence a distance of 8.63 feet along the arc of a 93.50 foot radius curve left, said curve having a central angle of 5117'20" and a long chord bearing N 51012'45" E a distance of 8.63 feet to a point of reverse curvature-, Thence N 48'35'24" E a distance of 2,50 feet to the POINT OF BEGINNING. Said Easement A contains 3,040 square feet and is subject to any other easements existing or in use. EASEMENT B Commencing at an Aluminum Cap monument marking the northwest corner of the SWI/4 of said Section 25, from which an Aluminum Cap monument marking the southwest corner of said SWI/4 bears S 0'31'26" W a distance of 2652.53 feet; Thence S 51012'38" E a distance of 945.68 feet to the POINT OF BEGINNING; Thence S 41024'36" E a distance of 13.00 feet to the beginning of a curve; Thence a distance of 7.83 feet along the arc of a 106.50 foot radius non-tangent curve right, said curve having a central angle of 4112'40" and a long chord bearing S 51145,06" W a distance of 7.83 feet to a point of reverse curvature; Thence a distance of 70.93 feet along the arc of a 393.50 foot radius curve left, said curve having a central angle of 10'19'39" and a long chord bearing S 48141'36" W a distance of 70.83 feet to a point of reverse curvature; Thence a distance of 35.90 feet along the arc of a 406,50 foot radius curve right, said curve having a central angle of 5103'37" and a long chord bearing S 46*03'35" W a distance of 35.89 feet to a point; Thence N 41124'36" W a distance of 13.00 feet to the beginning of a curve; Thence a distance of 34.75 feet along the arc of a 393.50 foot radius non-tangent curve left, said curve having a central angle of 5'03'37" and a long chord bearing N 46003'35" E a distance of 34.74 feet to a point of reverse curvature; City of Meridian Pathway Easements L44��Iutjons Brundage Estates Subdivision No.2 'Land Surveying and Consufflng Job No.24-36 Page 2 of 3 Instrument # 2026-029944 04/29/2026 08:01:13 AM Page 6 of 8 Thence a distance of 73.27 feet along the arc of a 406.50 foot radius curve right, said curve having a central angle of 10119'39" and a long chord bearing N 48141'36" E a distance of 73.17 feet to a point of reverse curvature; Thence a distance of 6.63 feet along the arc of a 93.50 foot radius curve left, said curve having a central angle of 4003'51" and a long chord bearing N 51049'30" E a distance of 6.63 feet to the POINT OF BEGINNING. Said Easement B contains 1,491 square feet and is subject to any other easements existing or in use. EASEMENT Commencing at an Aluminum Cap monument marking the northwest corner of the SW1/4 of said Section 25, from which an Aluminum Cap monument marking the southwest corner of said SW1/4 bears S 0'31'26" W a distance of 2652.53 feet; Thence S 38146'58" E a distance of 1311.55 feet to the POINT OF BEGINNING; Thence S 27157'57" E a distance of 70.96 feet to the beginning of a tangential curve; Thence a distance of 31.87 feet along the arc of a 91.00 foot radius curve left, said curve having a central angle of 20004'02" and a long chord bearing S, 37159'58" E a distance of 31.71 feet to a point; Thence S 57159'23" W a distance of 18.60 feet to the beginning of a curve; Thence a distance of 33.04 feet along the arc of a 109.00 foot radius non-tangent curve right, said curve having a central angle of 17122'02" and a long chord bearing N 36138'58" W a distance of 32.91 feet to a point of tangency; Thence N 27157'57" W a distance of 72.29 feet to a point of curvature-, Thence a distance of 18.08 feet along the arc of a 96.50 foot radius non-tangent curve left, said curve having a central angle of 10'43'56" and a long chord bearing N 66116,30" E a distance of 18-05 feet to the POINT OF BEGINNING. Said Easement C contains 1,868 square feet and is subject to any other easements existing or in use. \13�NL LA/Vo <1 ST& Clinton W. Hansen, PLS 4 4 1 Land Solutions, PC CL_ 18 March 24, 2026 CP 0 0� cb ON W . \A� City of Meridian Pathway Easements LZA 11d.5 Brundage Estates Subdivision No.2 Land Sumeyfng and Consulting Job No.24-36 Page 3 of 3 Instrument # 2026-029944 EXIT113jjX811026 08:01:13 AM Page 7 of 8 CITY OF MERIDIAN PATHWAY EASEMENTS - BRUNDAGE ESTATES NO. 2 LOCATED IN THE W 1/2 OF SECTION 25, T3N, R1W, BM, CITY OF MERIDIAN, ADA COUNTY, IDAHO W. VICTORY ROAD 23 4 _ N89'20'31"W 2640.25' 24 25 N 1/4 ire cti ,� - aa I h QI7 PROPOSED BRUNDAGE 26 25-- ESTATES SUBDIVISION NO. 2.--�. s6a•z3y5 POINT OF " ., 1044.42 COMMENCEMENT I j ',�• ,.• .,G� s� . �A,%x EASEMENT A -. o I J/� AREA=3040 S.F. I co. LLJ qs ��iJ- Gam ►' , cnLO� ��o ` " EASEMENT I r C-4 � AREA=1491 S.F. CN , { I P.O.B. EASE. ENT A EA �868 S.F. 26 25 �p,L.LA No 35 36 W. AMITY RD. Sao \ST **SEE PAGE 2 FOR LINE/CURVE TABLES* 11118 0 Lan lutions TANS, OF W. Land Surveying and Consulting 231 E.5TH ST. 0' 75' 150' 300' MERIDIAN,ID 83642 (208)288-2040 (268)288-2557 fax www.landsolutions.biz JC8 . 21-16 SHEET 1 OF 2 Instrument # 2026-029944 04/29/2026 08:01:13 AM Page 8 of 8 CITY OF MERIDIAN PATHWAY EASEMENTS - BRUNDAGE ESTATES NO. 2 LOCATED IN THE W 1/2 OF SECTION 25, T3N, RIW, BM, ADA COUNTY, CITY OF MERIDIAN, IDAHO CURVE TABLE LINE TABLE CURVE LENGTH RADIUS DELTA BEARING CHORD LINE LENGTH BEARING C1 9.83' 106.50' 5*17'16" S51'1 2'49"W 9,82' Ll 13.00' S41'24'36-E C2 70.93' 393.50' 1019'39" S48'41'36"W 70.83' L2 2.50' S48*35'24"W C3 7130' 406,50' 10*07'14' S48"35'24"W 71,71' L3 1100' N41'24'36"W C4 70.93' 393.50' 10*19'39" S48*29'1 2"W 70.83' L4 2.50' N48*3524"E C5 T83' 106.50' 412'40' S4525'42"W 7.83' L5 13.00' S41*24*36"E C6 6.63' 93.50' 4'03'51" N45'21'18"E 6,63' L6 13.00' N 41*24 3CW C7 73.27' 406.50 1019'39" N48'29 12 E 73.17 L7 18.60 S57*59 23 W C8 69.51' 39150' 10'07'14" N48'35'24"E 69,42' C9 73.27' 406.50' 1019'39" N48'41'36"E 73.17' CIO 8.63' 93.50' 517'20" N5112'45"E 8,63' C11 7.83' 106,50' 412'40" S51'45'06"W 7.83' C12 70.93' 393.50' 10*19'39" S48'41'36"W 70.83' C13 35.90' 406.50' 5*03'37" S46*03'35"W 35.89' C14 34.75' 393.50' 5'03'37" N46'03'35"E 34.74' C15 73.27' 406.50' 101939" N48*41'36"E 73.17' C16 6.63' 9150' 4*03'51" N51'49'30"E 6.63' C17 31.87' 91.00' 20'04'02" S37*59'58"E 31.71' C18 33.04' 109.00' 17'22'02" N36*38'58"W 32.91' C19 18.08' 96.50' 10'43'56" N66'1 6'30 E 18.05' NL LAVD tST 0 sw irl 18 "Lan lutiOns Land Surveying and Consulting CIF 231 E 5TH ST. )V W.NA�- MERIDIAN ID 63642 (208)268-2040 (208)288-2557 fax www.landsotobons.ba JOB NO 24-6 SHEET 2 OF 2 , E IDIAN,,z - AGENDA ITEM ITEM TOPIC: Briar Ridge Subdivision No.1 Sanitary Sewer and Water Main Easement No. 1 (ESMT-2026-0094) Ada County Recorder Trent Tripple 2026-029943 Boise,Idaho Pgs=9 vbailey 04/29/2026 08:01:13 AM CITY OF MERIDIAN IDAHO$0.00 Electronically Recorded Project Name or Subdivision Name: Briar Ridge Sub No. 1 Sewer and Water Ea: Sanitary Sewer&Water Main Easement Number: 1 Identify this Easement by sequential number if the project contains more than one easement of this type.:See insnuctions/checklisl for additional information, For Internal Use Only ESMT-2026-0094 Record Number: 5AMAM SEWER AND WATER MAIN EASEJZM THIS Easement Agreement made this 28th day of April 2026 between Endurance Holdings LLC ("Grantor")and the City ofMeridian,an Idaho Municipal Corporation("Grantee"); WHEREAS, the Grantor desires to provide a sanitary sewer and water main right-of- way across the premises and property hereinafter particularly bounded and described;and WHEREAS, the sanitary sewer and water is to be provided for through underground pipelines to be constructed by others;and WHEREAS,it will be necessary to maintain and service said pipelines from time to time by the Grantee; NOW, THEREFORE, in consideration of the benefits to be received by the Grantor, and other good and valuable consideration,the Grantor does hereby give, grant and convey unto the Grantee the right-of--way for an easement for the operation and maintenance of sanitary sewer and water mains over and across the following described property: (SEE ATTACHED EXHIBITS A and B) The easement hereby granted is for the purpose of construction and operation of sanitary sewer and water mains and their allied facilities,together with their maintenance,repair and replacement at the convenience of the Grantee,with the free right of access to such facilities at any and all times, T O HAVE AND T O HOLD, the said easement and right-of-way unto the said Grantee, its successors and assigns forever. IT IS EXPRESSLY UNDERSTOOD AND AGREED, by and between the parties hereto, that after making repairs or performing other maintenance, Grantee shall restore the area of the easement and adjacent property to that existent prior to undertaking such repairs and maintenance. However, Grantee shall not be responsible for repairing, replacing or restoring anything placed within the area described in this easement that was placed there in violation of this easement. Sanitary Sewer and Water Main Easement Page 1 Version 01/01/2024 Instrument # 2026-029943 04/29/2026 08:01:13 AM Page 2 of 9 THE GRANTOR covenants and agrees that Grantor shall not place or allow to be placed any permanent structures or obstructions within the easement area that would interfere with Grantee's use of said easement, including, but not limited to, buildings, trash enclosures, carports, sheds, fences, trees, or deep-rooted shrubs. THE GRANTOR covenants and agrees with the Grantee that should any part of the right-of- way and easement hereby granted shall become part of, or lie within the boundaries of any public street, then, to such extent, such right-of-way and easement hereby granted which lies within such boundary thereof or which is a part thereof, shall cease and become null and void and of no further effect and shall be completely relinquished. THE GRANTOR does hereby covenant with the Grantee that Grantor is lawfully seized and possessed of the aforementioned and described tract of land, and that Grantor has a good and lawful right to convey said easement, and that Grantor will warrant and forever defend the title and quiet possession thereof against the lawful claims of all persons whomsoever. THE COVENANTS OF GRANTOR made herein shall be binding upon Grantor's successors, assigns,heirs,personal representatives,purchasers, or transferees of any kind. IN WITNESS WHEREOF, the said parties of the first part have hereunto subscribed their signatures the day and year first herein above written. GRANTOR: Endurance Holdin LL mber: C y Ba on STATE OF IDAHO ) ) s County of Ada ) This record was acknowledged before me on A n 1 ),o (date) by 10,1 (name of individual), [complete the ollowing ifsigning in a repres tative capacity, or strike thefollowing ifsigning in an individual capacity] on behalf of Endurance Holdings LLC (name of entity on behalf of whom record was executed), in the following representative capacity: Ad ernab e.r (type of authority such as officer or trustee) Notary Stantp Below r ^ MR KOLTES Notary Public- State of Idaho Commission Number 30052 Notary Signature p My Commission Expires 06-05-2DZII My Commission Expires: ,. Sanitary Sewer and Water Main Easement Page 2 Version 0 1/0 1/2024 Instrument # 2026-029943 04/29/2026 08:01:13 AM Page 3 of 9 GRANTEE: CITY OF MERIDIAN Robert t. Simi On, ayor 4-28-2026 SF,AL Attest by Chri ohnso i,- . "`` Clerk 4-28-2026 STATE OF IDAHO, ) : ss. County of Ada ) This record was acknowledged before me on 4-28-2026 (date) by Robert E. Simison and Chris Johnson on behalf of the City of Meridian, in their capacities as Mayor and City Clerk, respectively. Notary Stamp Below CHARLENE WAY COMMISSION No. 67390 Noj4ny�j)" NOTARY PUBLIC STATE OF IDAHO Notary Signature My Commission Expires: 3-28-2028 Sanitary Sewer and Water Main Easement Page 3 Version 01/01/2024 Instrument # 2026-029943 04/29/2026 08:01:13 AM Page 4 of 9 Exhibit A City of Meridian Easement April 7, 2026 Portions of the Northeast 1/4 of the Southeast 1/4 of Section 36, Township 3 North, Range 1 West, Boise Meridian, City of Meridian, Ada County, Idaho being more particularly described as follows: Easement `A' Commencing at the East 1/4 corner of said Section 36 from which the Southeast corner of said Section 36 bears South 00005'08" East, 2,669.88 feet; thence South 70024'06"West, 637.39 feet to the POINT OF BEGINNING; thence North 89021'32" West, 124.38 feet; thence North 00°38'28" East, 20.00 feet; thence South 89*21'32" East, 113.98 feet; thence North 00038'28" East, 12.50 feet; thence South 89°21'32" East, 10.40 feet; thence South 00038'28" West, 32.50 feet to the POINT OF BEGINNING. Containing 2,618 square feet or 0.060 acres, more or less. AND Easement `B' Commencing at the East 1/4 corner of said Section 36 from which the Southeast corner of said Section 36 bears South 00005'08" East, 2,669.88 feet; thence South 36054'01" West, 986.67 feet to the POINT OF BEGINNING; thence South 00047'35" West, 14.50 feet; thence South 44012'25" East, 7.78 feet; thence North 89012'25"West, 228.87 feet; thence North 00047'35" East, 20.00 feet; �\oNPL LAND s 5 \GENSF thence South 89012'25" East, 223.37 feet to the POINT OF <c�' � BEGINNING. n- 11779 X Containing 4,483 square feet or 0.103 acres, more or less. N� ® �° 9TF OF \�P p� AND YM MCGN Page 1 of 3 Instrument # 2026-029943 04/29/2026 08:01:13 AM Page 5 of 9 Easement `C' Commencing at the East 1/4 corner of said Section 36 from which the Southeast corner of said Section 36 bears South 00005'08" East, 2,669.88 feet; thence South 32'57'18" West, 1,092.23 feet to the POINT OF BEGINNING; thence South 00044'19" West, 20.00 feet; thence North 89015'41"West, 157.12 feet; thence North 00°44'19" East, 20.00 feet; thence South 89'1641" East, 157.12 feet to the POINT OF BEGINNING. Containing 3,142 square feet or 0.072 acres, more or less. AND Easement 'D' Commencing at the East 114 corner of said Section 36 from which the Southeast corner of said Section 36 bears South 00005'08" East, 2,669.88 feet; thence South 27001'33" West, 1,076.93 feet to the POINT OF BEGINNING; thence South 00047'35" West, 318.44 feet; thence South 89054'52" West, 22.00 feet; thence North 00047'35" East, 323.75 feet; thence South 44°20'20" East, 7.05 feet; thence South 89012'25" East, 17.00 feet to the POINT OF BEGINNING. Containing 7,022 square feet or 0.161 acres, more or less. AND Easement 'E' Commencing at the East 1/4 corner of said Section 36 from which the Southeast corner of said Section 36 bears South �NP� LAND 00005'08" East, 2,669.88 feet; thence South 14031'09" West, 994.46 feet to the POINT OF BEGINNING; 9 thence South 00005'08" East, 319.17 feet; 1177 � (P7/7,,Z t. ra thence South 89054'52" West, 24.00 feet; �'p�9rF OF SOP thence North 00005'08" West, 324.53 feet; yM MCC N Page 2 of 3 Instrument # 2026-029943 04/29/2026 08:01:13 AM Page 6 of 9 thence South 43007'55" East, 7.33 feet; thence North 89°54'52" East, 19.00 feet to the POINT OF BEGINNING. Containing 7,674 square feet or 0.176 acres, more or less. End of Description. soNK1- LAHp s NSF 1 779 X0 `P� V, �o nip 9�F OF yM McC , Page 3 of 3 instrument - 04/29/2026 08:01:13 AM Page 7 of 9 3 Li X of 1/4 • S.36 S.31 off,`N ro 39 I IF P.O.B. 'A' li ^� Z I �Aj ^� ) oil o�p lb ^ry o 100 U) v_ of �+ P.O.B. 'B' 04 V) Lim 00 0 0 c(D : >, o m P.O.B. 'C' = o 0 I P.O.B. N 'D' P.O.B. 'E' I ONNL LAND g5�\,�GENSF `r CL 1 779 cp Z l(, -o ��p9rF OF `OP p� yM N Scale: 1"=180' W. Lake Hazel Rd. S.36 S.31 T.3N. S.1 S.6 T.2N. 0 45 90 180 360 - Lli P:\Briar Ridge(flock Contractors topo) 17-345\dwg\COM Ease Ex.dwg 4/7/2026 11:56:43 AM C� IC� I DAHO Exhibit B 17b 345 9939 W.EMERALD ST. City of Meridian Easement SURVEY BOISE -8570 704 Briar Ride Subdivision No. 1 Sheet No. 0 (208)846-8570 9 1 of 3 GROUP, LLC Portions of the NE1/4 of the SE1/4 of Section 35, Dwg. Date T.3N., RAW., B.M., City of Meridian, Ado County, Idoho. 4/7/2026 instrument - 04/29/2026 08:01:13 AM Page 8 of 9 L3 ES89'21'32"MPO. J J N89'21'32"W 124.38' B. Line Table Line Bearing Length L1 N00'38'28"E 20.00' L2 N00'38'28"E 12.50' L3 S89'21'32"E 10.40' L4 S00'38'28"W 32.50' P.O.B. 'B' L5 S00'47'35"W 14.50' S89'12'25"E 223.37' L6 S44'12'25"E 7.78' L5 J L6 L7 N00'47'35"E 20.00' N89'12'25"W 228.87' L8 S00'44'19"W 20.00' L9 N00'44'19"E 20.00' P.O.B. 'C' S89'15'41"E 157.12' `�Npl LAND 55 v�CE�SF S - °�' aJo j N89'15'41"W 157.12' 11 79 O F of \'O O� oyM McCPM� Scale: 1"=60' 0 10 30 60 120 P.\Brio,Ridge(Rock Contractors topo) 17-345\dw9\COM Ease E.dwg 4/7/2026 11.59.20 AM I DAHO Exhibit B 17b 345 9939 W.EMERALDST. City of Meridian Easement SURVEY (208)86DAHO-8570 3704 Briar Ride Subdivision No. 1 Sheet No. (208)846-8570 9 2 of 3 GROUP, LLC Portions of the NE1/4 of the SE1/4 of Section 35, Dwg. Date T.3N., RAW., B.M., City of Meridian, Ada County, Idaho. 4/7/2026 instrument - 04/29/2026 08:01:13 AM Page 9 of 9 L11 L14 L12 L15 P.O.B. 'D' P.O.B. 'E' in K � 04 C6 4 M M 3 3 w uO Co Co o 0 in o `n 0 0 z 0 o z L10 L13 ONP1. LAN� NSFpsG Line Table o: W Line Bearing Length 11779 N� PLO L10 S89'54'52"W 22.00' op rF of L11 S44'20'20"E 7.05' yM McCP L12 S89'12'25"E 17.00' L13 S89'54'52"W 24.00' L14 S43'07'55"E 7.33' Scale: 1"=60' L15 N89'54'52"E 19.00' 0 10 30 60 120 P:\66.,Ridge(Rock Contractors top.) 17-345\dw9\C0M Ease E.A.9 4/7/2026 12,00:44 PM I DAHO Exhibit B 17b 345 9939 W.EMERALD ST. City of Meridian Easement SURVEY BOISE 704 Sheet No. (208)846-8570-8570 Briar Ridge Subdivision No. 1 3 of 3 GROUP, LLC Portions of the NE1/4 of the SE1/4 of Section 35, Dwg. Date T.3N., R.1 W., B.M., City of Meridian, Ada County, Idaho. 4/7/2026 E IDIAN,,z - AGENDA ITEM ITEM TOPIC: Records Apartments Sanitary Sewer and Water Main Easement No. 3 (ESMT-2026-0095) Ada County Recorder Trent Tripple 2026-029945 Boise,Idaho Pgs=12 vbailey 04/29/2026 08:01:13 AM CITY OF MERIDIAN IDAHO$0.00 Electronically Recorded Project Name or Subdivision Name: Records Apartments Sanitary Sewer&Water Main Easement Number: 3 Identify this Easement by sequential number if the project contains more than one easement of this type.See instructions/checklist for additional information. For Internal Use Only Record Number: ESMT-2026-0095 SANITARY SEWER AND WATER MAIN EASEMENT THIS Easement Agreement made this 28th day of April 2026 between DWT Investments LLC and BVZ Records Village, LLC ("Grantor")and the City OfMeridian,an Idaho Municipal Corporation("Grantee"); WHEREAS, the Grantor desires to provide a sanitary sewer and water main right-of- way across the premises and property hereinafter particularly bounded and described;and WHEREAS, the sanitary sewer and water is to be provided for through underground pipelines to be constructed by others;and WHEREAS,it will be necessary to maintain and service said pipelines from time to time by the Grantee; NOW, THEREFORE, in consideration of the benefits to be received by the Grantor, and other good and valuable consideration, the Grantor does hereby give, grant and convey unto the Grantee the right-of-way for an easement for the operation and maintenance of sanitary sewer and water mains over and across the following described property: (SEE ATTACHED EXHIBITS A and B) The easement hereby granted is for the purpose of construction and operation of sanitary sewer and water mains and their allied facilities, together with their maintenance,repair and replacement at the convenience of the Grantee,with the free right of access to such facilities at any and all times. TO HAVE AND TO HOLD, the said easement and right-of-way unto the said Grantee,its successors and assigns forever. IT IS EXPRESSLY UNDERSTOOD AND AGREED, by and between the parties hereto, that after making repairs or performing other maintenance, Grantee shall restore the area of the easement and adjacent property to that existent prior to undertaking such repairs and maintenance. However, Grantee shall not be responsible for repairing, replacing or restoring anything placed within the area described in this easement that was placed there in violation of this easement. THE GRANTOR covenants and agrees that Grantor shall not place or allow to be placed any permanent structures or obstructions within the easement area that would interfere with Grantee's use of said easement, including, but not limited to, buildings, trash enclosures, carports, sheds, fences, trees, or deep-rooted shrubs. Notwithstanding the foregoing, the Grantor shall be permitted to install one (1) free-standing sign that spans the easement area("Sign"), as depicted on EXHIBIT C attached hereto and incorporated herein, so long as the foundations for the Sign are located outside the easement area and the vertical clearance between the bottom of the Sign and surface of the easement area is sixteen(16)feet or greater. Sanitary Sewer and Water Main Easement Page 1 Version 01/01/2024 Instrument # 2026-029945 04/29/2026 08:01:13 AM Page 2 of 12 THE GRANTOR covenants and agrees with the Grantee that should any part of the right-of-way and easement hereby granted shall become part of, or lie within the boundaries of any public street, then, to such extent, such right-of-way and easement hereby granted which lies within such boundary thereof or which is a part thereof, shall cease and become null and void and ofno further effect and shall be completely relinquished. THE GRANTOR does hereby covenant with the Grantee that Grantor is lawfully seized and possessed of the aforementioned and described tract of land, and that Grantor has a good and lawful right to convey said easement, and that Grantor will warrant and forever defend the title and quiet possession thereof against the lawful claims of all persons whomsoever. THE COVENANTS OF GRANTOR made herein shall be binding upon Grantor's successors, assigns,heirs,personal representatives,purchasers, or transferees of any kind. IN WITNESS WHEREOF,the said parties of the first part have hereunto subscribed their signatures the day and year first herein above written. [END OF TEXT; SIGNATURES TO FOLLOWI Sanitary Sewer and Water Main Easement Page 2 Version 01/01/2024 Instrument # 2026-029945 04/29/2026 08:01:13 AM Page 3 of 12 GRANTOR: DWT INVESTMENTS LLC an Idaho limited liability company By: Brighton Corporation, an Idaho Corporation Its. Manager By: Robert L. Phillips, President of Manager STATE OF IDAHO :SS. County of Ada On this Zday of 2026, before me, the Notary Public in and for said State, personally appeared Robert L. Phillips, known or identified to me to be the President of Brighton Corporation, the Manager of DWT Investments LLC, an Idaho limited liability company, who subscribed said limited liability company name to the foregoing instrument, and acknowledged to me that he executed the within instrument on behalf of said corporation, and that such corporation executed the same in said limited liability company name. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year in this certificate first above written. BETHANY TROVINGER COMMISSION#20260508 Notary Public, ('Idaho NOTARY PUBLIC My Commission expires U Z 2 3 Z STATE OF IDAHO My COMMISSION EXPIRES 02/12/2032 Instrument # 2026-029945 04/29/202608:01:13AM Page 4of12 BVZ RECORDS VILLAGE, LLC an Idaho limited liability company By: BV Executive Management Services, Inc., an Idaho corporation, the Manager B� : 1i Jake 3 Fens, President of Manager STATE OF |DAH() ) :so. County *fBonneville \ On this day OL . 20 ' . before me, the Notary Public in and for said Stetb, personally*ap ,,rld Joke Stevens known or identified to me to be the President of of BV Executive Management Services, Inc., the Manager of BVZ RECORDS VILLAGE, LLC' an Idaho limited liability connpany, who subscribed said limited liability company name to the foregoing instrument, and acknowledged to me that he executed the within instrument on behalf Of said corporadon, and that such corporation executed the same in said limited liability company name, IN WITNESS WHEREOF, | have hereunto set year in this certificate first above written. /, Instrument # 2026-029945 04/29/2026 08:01:13 AM Page 5 of 12 GRANTEE: CITY OF MERIDIAN Robe E. Si ison, Ma or ' 28-2026 �� ! C y � SEAL Attest by C6s Johnson, City Clerk 4-28-2026 STATE OF IDAHO, ) : ss. County of Ada ) This record was acknowledged before me on 4-28-2026 (date) by Robert E. Simison and Chris Johnson on behalf of the City of Meridian, in their capacities as Mayor and City Clerk, respectively. Notary Stamp Below CHARLENE WAY Cho'Any--L4 COMMISSION No. 67390 NOTARY PUBLIC Notary Signature STATE OF IDAHO My Commission Expires: 3-28-2028 Sanitary Sewer and Water Main Easement Page 3 Version 01/01/2024 Instrument # 2026-029945 04/29/202608:01:13AM Page Oof12 cwo / msEn / ma Apri|3'2026 Project No.24-Z49 City of Meridian Sewer and Water Easement Legal Description Exhibit Parcels of land for a City of Meridian Sewer and Water Easement situated in a portion of the Southeast 1/4 of the Southwest 1/4 of Section 4,Township 3 North,Range 1 East,Boise Meridian,City of Meridian,Ada County,Idaho and being more particularly described asfollows: Commencing at a found aluminum cap marking the South 1/4 corner of said Section 4,which bears S89'22'45"E a distance of 2,659.59 feet from a found aluminum cap marking the Southwest corner of said Section 4; Thence following the southerly line of said Southeast 1/4 ofthe Southwest 1/4,N89^Z2'45''VVa distance of58J.19feet; Thence leaving said southerly line, N00'24'03"E a distance of 416.11 feet to the easterly right-of-way of N. Records Avenue and being POINT DF BEGINNING 1. Thence following said easterly right-of-way,N00^21'10"Ea distance ofZU.0Ofeet; Thence leaving said easterly/i8ht-ohvay,S89`27'48''Ea distance of159.81feet; Thence NOO`3Z'12"Eu distance of361feet; Thence N89^27'4X"VVa distance of27.48feet; Thence N0O'3Z'I2"Ea distance of22.2Sfeet; Thence S89`27'4D"Ea distance of27.48feet; Thence N00^3Z'12''Ea distance of37.27feet; Thence 589^Z7'48"Ea distance ofJ9.38feet; Thence SV0^32'12"VVa distance ofZO.00feet; Thence N89^27'48"VVp distance of19.38feet; Thence SOO~32'12''VVa distance of1O2.58feet; Thence S89~27'48''Ea distance ofI9.5Ofeet; Thence SOO`32'1Z''VVa distance ofZO.00feet; Thence N89~27'48"VVu distance of19.SUfeet; Thence SOU^32'1Z"VVa distance ufI6.69feet; Thence S89`Z7'48"Eu distance of23.19feet; Thence NOO`32'12"Ea distance uf13O.78feet; Thence S89`27'4O''Ea distance of3I624feet; Thence NOO^32'I2"Ea distance nf11D.O0feet; Thence S89'27'48"E a distance of 50.50 feet to a point on existing Cross Access and Utility Easement per Instrument No. 11Z1373S5 and 2O14' 67559,saidpointhereinafter/eferedtoms''PO|NTA"; Thence following said existing easement,S00'32'11"W a distance of 20.00 feet; Thence leaving said existing easement, N89~27'48"VV a distance of303Ofeet; Thence 500^3Z'lZ"VVp distance of118-0Ofeet; Thence N88~Z7'4A^VVa distance of3lG.24feet; Thence 580^3Z'1Z^VVa distance of110.78feet; Thence S89~Z7'48^Ea distance of79.58feet; Thence 5UU~3Z'12"VVa distance of126.DQfeet; Thence 5Q9`27'48"Ea distance of228.66feet; Thence N0O`32'12'`Ea distance ofl12.3Ifeet; Thence S89'37'07"E a distance of 38.50 feet to said existing Cross Access and Utility Easement; Thence following said existing easement,S00'32'11"W a distance of 20.00 feet; Thence leaving said existing easement N89~37'07"VVa distance of 18.50 feet; Thence SOO~3Z'12^VVa distance of11Z.36feet; Thence N89^27'48^VVa distance ofZ663feet; 5725 North Discovery Way ° Boise, |dahnn37za " 208.63e.6939 " kmeng||p.cnm Instrument # 2026-029945 04/29/202608:01:13AM Page 7of12 Thence SOO^32'I2''VVa distance mf24.34feet; Thence N89`Z7`48"VVa distance ofZ7.67feet; Thence 000~32`12"Ea distance ofI4.J4feet; Thence N89^Z7'48"VVa distance of86.57feet; Thence 3O0~3Z'13"VVa distance of13.45feet; Thence NVg~Z7'48^VVa distance ofZU.00feet; Thence N0[*3Z'12^Ea distance of13.45feet; Thence NVg`27'48^VVa distance ofl0779feet; Thence NOG'32'12''Ea distance oflZ6.O8feet; Thence N89^27'48''VVa distance of122J7feet; Thence N0U~32'12"Ea distance uf22.8Ifeet; Thence N89^Z7'4&"VVu distance of2353feet; Thence NUO`32'l2"Ea distance of22.2Sfeet; Thence 389'27'4O"Ea distance of23.S3feet; Thence NO0`32'l2"Ea distance of51.O9feet; Thence N89`27'48"VVa distance of159.74 feet tn POINT OF BEGINNING l. Said parcel contains 0,783 acres(34,111 square feot)'more orless. TOGETHER WITH: Commencingatapointprevioudyreferredtoas''PO|NTA^'Lhencefo||owimgmidex|uLingCmsyAcceusandUti|itY Easement,NOO^3Z'll^Ea distance of77.Z1 feet 10 POINT OF BEGINNING 3. Thence leaving said existing Cross Access and Utility Easement,N89'27'48"W a distance of 31.43 feet; Thence N0U~32'I2"Ea distance of22.25feet; Thence S89*27'48"E a distance of 31.43 feet to said existing Cross Access and Utility Easement; Thence following said existing Cross Access and Utility Easement,SOO'32'11"W a distance of 22.25 feet to POINT OF BEGINNING 2. Said parcel contains 699 square feet,more orless. Said description contains a total of0.7gg acres(J4,V10 square feet)'more nr less and is subject to all existing easements and/or hghts'of-wayof record orimplied. All subdivisions,deeds,records of surveys,and other instruments of record referenced herein are recorded documents of the county in which these described lands are situated. Attached hereto is Exhibit B and by this reference is made a part hereof. PAGE 2 Instrument # 2026-029945 04/29/2026 08:01:13 AM Pa se 8 of 12 SPEC NSg g L8 I —�� I J o J cV L6 L10 L18 Q) Q — L2 _ Lr L4 L24 I J I It J J J © L50 OJ / LO LO I POINT OF I 1 BEGINNING 1 I L12 I IJ n L48 In r J� z J L46 L14 m J L26 _ I m JL16 Lq L44 I I m rn Lj 20' Iv LEGEND I r r J FOUND ALUMINUM CAP I I I *� [3 CALCULATED POINT J a BOUNDARY LINE n ———————— EASEMENT I EXISTING CROSS ACCESS AND — UTILITY EASEMENT PER INST. I L... LG8._ I Z --- - - — 2 4 Na.s 112137356 AND 2014-067559 / Z- I L42 � I © 5 4 2076.40' a 4 583.19' 3: — — — — -- — — — — — a 8 9 S89'22`45"E 2659.59' 9 BASIS OF BEARING N FOUND ALUMINUM CAP Fairview Avenue POINT OF COMMENCEMENT Z SOUTHWEST CORNER SECTION 4 FOUND ALUMINUM CAP w SOUTH 1/4 CORNER SECTION 4 0 30 60 120 lam 3 Scale: 1 "=60' N N E N G I N E E R I N G `m 5725 NORTH DISCOVERY WAY x BOISE,IDAHO 8371.3 " c > Exhibit B i PHONE 208 639-6939 ¢ kmengllp.com Y City of Meridian Sewer and Water Easement DATE: April 2026 NPROJECT: 24-249 SHEET: A portion of the SE 1/4 of the SW 1/4 of Section 4, 1 OF 3 T3N., 111E., B.M., City of Meridian, Ada County, Idaho Instrument # 2026-029945 04/29/2026 08:01:13 AM Page 9 of 12 L53 .00-rft%� to I CIT' 751 I POINT OF WN BEGINNING 2 0 30 60 120 N00*32'11"E 77.21' (TIE)----.-] L20 POINT A" Scale: 1 "=60' L22 1 � I I I L18 /77 zL24 29' CROSS ACCESS AND UTILITY EASEMENT PER INST. No. 112137356 AND 2014-067559 :U1-1 C, 0. Uj 14.5' L30 L32 N ( � I 13� N L28 TT Y-F -Y L34 L42 L38 o 11, / L40 -j lam ENGINEERING L36 E 5725 NORTH DISCOVERY WAY T BOISE,IDAHO 83713 PHONE(208)639-6939 Exhibit B kmengl1p.com City of Meridian Sewer and Water Easement DATE: Apr[12G26 PROJECT: 24-249 ry SHEET. A portion of the SE 1/4 of the SW 1/4 of Section 4, 2 OF 3 T3N., RlE., B.M., City of Meridian, Ada County, Idaho Instrument # 2026-029945 04/29/2026 08:01:13 AM Page 10 of 12 LINE TABLE LINE TABLE LINE BEARING DISTANCE LINE BEARING DISTANCE Ll N00*21'1 0"E 20.00 L28 S89*27'48"E 228.66 L2 S89'27'48"E 159.81 L29 N0932"1 2"E 112.31 L3 N00*32'1 2"E 3.61 L30 S89"37'07"E 38.50 L4 N8927'48"W 27.48 L31 S00*32'1 1"W 20.00 L5 N00'32'1 2"E 22.25 L32 N8937'07"W 18.50 L6 S89'27'48"E 27.48 L33 S00*32'1 2"W 112.36 L7 N00'32'1 2"E 37.27 L34 N89*27'48"W 26.63 LB S89*27'48"E 39.38 L35 S00*32'12"W 24.34 L9 S00'32'1 2"W 20.00 L36 N89'2748"W 27.67 L10 N89'27'48"W 19.38 L37 N00'32'1 2"E 24.34 Ll 1 S00'32'1 2"W 102.59 L38 N89*27'48"W 86.57 L12 S89'27'48"E 19.50 L39 S0932'12"W 13.45 L13 S00*32'1 2"W 20.00 L40 N89'2748"W 20.00 L14 N89'27'48"W 19.50 L41 N00*32'1 2"E 13.45 L15 S00*32'11 2"W 16.69 L42 N89*27'48"W 107.79 L16 S89'27'45"E 23.19 L43 N00*32'1 2"E 126.00 L17 N00'32'1 2"E 130.78 L44 N89*27'48"W 122.77 L18 S89'27'45"E 316.24 L45 N00*32'1 2"E 22.81 1-19 N00'32'1 2"E 118-00 L46 N89'27'48"W 23.53 L20 S89*27'43"E 50.50 L47 N00*32"1 2"E 22.25 L21 S00'32"1 1"W 20.00 L48 S892748"E 23.53 L22 N89'27'48"W 30.50 L49 N00*32'1 2"E 51-09 o L23 S00*32"1 2"W 118-00 L50 N89*27'48"W 159.74 L24 N89*27'48"W 316.24 L51 N89*27'48"w 31.43 L25 S00'32'1 2"W 110,78 L52 N00'32'1 2"E 22.25 L26 S89'27'48"E 79.58 L53 S89*2 '48"E 31.43 6 L27 S00'32'1 2"W 126,00 L54 S00-32"I 1"W 22.25 E N G I N E E R I N G Fn 5725 NORTH DISCOVERY WAY BOISE,IDAHO 83713 PHONE(208)639-6939 Exhibit B < kmenglip.com City of Meridian Sewer and Water Easement DATE: April 2026 PROJECT: 24-249 SHEET: A portion of the SE 1/4 of the SW 1/4 of Section 4, 3 OF 3 T3N., RlE., B.M., City of Meridian, Ada County, Idaho 12,812119 9 90-11-0 04/29/2026 08:01:13 AM Page 11 of 12 s89'27'46"e 50,5 22 CN) �2 O C' 0 10 s89'27'48"e 316.24 316,24 s89'27'48"e n89'27'48"w 10 159.81 J->7 159.74 n89'27'48"w 0 CO fl) M r- IV m 0 r-: Cq 1217 4 16 s8 47'18"e 7958 122.77 30 nW27'48"w 32 N 7- JU Cq N 0 C.) 0 0 C,C Vl s89'27'48"e 228.66 107.79 86.57 n89'27'48"w a n89'27'I 44 36 4/3/2026 Scale: 1 inch= 80 feet lFile: Tract 1:0.7831 Acres(34111 Sq.Feet),Closure:s55.5318w 0.01 ft.(11474427). Perimeter=3421 ft. 01 nOO.21 1 De 20 28 s89.2748e 228.66 02 s89.2748e 159.81 29 nO0,3212e 112.31 03 n00.3212e 3.61 30 s89.3707e 38,5 04 n89.2748w 27.48 31 s00.321 1 w 20 05 n00.3212e 22.25 32 n89.3707w 18.5 06 s89.2748e 27.48 33 s00.3212w 11236 07 riDO.3212e 37.27 34 n89.2748w 26.63 D8 s89.2748e 39,38 35 sOO.3212w 24.34 09 s00.3212w 20 36 r189.2748w 27.67 10 n89,2748w 19.38 37 n00.3212e 24.34 11 s00.3212w 102.59 38 n89.2748w 86.57 12 s89.2748e 19.5 39 sOO.3212w 13.45 13 sOO.3212w 20 40 n89.2748w 20 14 n89.2748w 19.5 41 n00.3212e 13.45 15 s00.3212w 16.69 42 n89.2748w 107.79 16 s89.2748e 23.19 43 nO0.3212e 126 17 nOO.3212e 130.78 44 n89.2748w 122.77 18 s89.2748e 316.24 45 nOO.3212e 22.81 19 n00.3212e 118 46 n89.2748w 23.53 20 s89.2748e 50.5 47 nOO.3212e 22.25 21 sOO.321 I w 20 48 s89.2748e 23.53 22 n89.2748w 30.5 49 nOO.3212e 51.09 23 sOO.3212w 118 50 n89.2748w 159.74 24 n89.2748w 316.24 25 sOO.3212w 110.78 26 s89.2748e 79.58 27 sOO.3212w 126 mommomms 04/29/2026 08:01:13 AM Page 12 of 12 s89'27'48"e 31.43 3: U- LO cj c') N N Z' cq cq c3 O o 31.43 n89'27'48"w 4/3/2026 Scale: 1 inch= 10 feet IFile: Tract 1:0,0161 Acres(699 Sq.Feet), Closure:n00.0000e 0.00 ft.(1/986121),Perimeter=107 ft. 01 n89.2748w 31.43 02 n00.3212e 22.25 03 s89.2748e 31.43 04 s00.321 1 w 22.25 VE IDIAN:--- AGENDA ITEM ITEM TOPIC: Findings of Fact, Conclusions of Law for CenterCal Expansion Subdivision (SHP-2026-0003) by The Land Group, located at 3395 E. Longwing Ln. CITY OF MERIDIAN FINDINGS OF FACT, CONCLUSIONS OF LAW C�fIENtN),,AND DECISION& ORDER In the Matter of the Request for Short Plat Consisting of Four(4)Buildable Lots 14.23 Acres of Land in the C-G Zoning District for CenterCal Expansion Subdivision,by The Land Group. Case No(s). SHP-2026-0003 For the City Council Hearing Date of: April 14, 2026 (Findings on April 28,2026) A. Findings of Fact 1. Hearing Facts(see attached Staff Report for the hearing date of April 14,2026,incorporated by reference) 2. Process Facts(see attached Staff Report for the hearing date of April 14, 2026, incorporated by reference) 3. Application and Property Facts(see attached Staff Report for the hearing date of April 14,2026, incorporated by reference) 4. Required Findings per the Unified Development Code(see attached Staff Report for the hearing date of April 14,2026, incorporated by reference) B. Conclusions of Law 1. The City of Meridian shall exercise the powers conferred upon it by the"Local Land Use Planning Act of 1975,"codified at Chapter 65, Title 67,Idaho Code(I.C. §67-6503). 2. The Meridian City Council takes judicial notice of its Unified Development Code codified as Title 11 Meridian City Code, and all current zoning maps thereof. The City of Meridian has,by ordinance, established the Impact Area and the Comprehensive Plan of the City of Meridian, which was adopted December 17,2019,Resolution No. 19-2179 and Maps. 3. The conditions shall be reviewable by the City Council pursuant to Meridian City Code § 11-5A. 4. Due consideration has been given to the comment(s)received from the governmental subdivisions providing services in the City of Meridian planning jurisdiction. 5. It is found public facilities and services required by the proposed development will not impose expense upon the public if the attached conditions of approval are imposed. 6. That the City has granted an order of approval in accordance with this Decision,which shall be signed by the Mayor and City Clerk and then a copy served by the Clerk upon the applicant,the Community Development Department,the Public Works Department and any affected party requesting notice. 7. That this approval is subject to the Conditions of Approval all in the attached Staff Report for the hearing date of April 14,2026, incorporated by reference. The conditions are concluded to be FINDINGS OF FACT,CONCLUSIONS OF LAW AND DECISION&ORDER FOR CENTERCAL EXPANSION SUBDIVISION SHP-2026-0003 - 1 - reasonable and the applicant shall meet such requirements as a condition of approval of the application. C. Decision and Order Pursuant to the City Council's authority as provided in Meridian City Code § 11-5A and based upon the above and foregoing Findings of Fact which are herein adopted, it is hereby ordered that: 1. The applicant's request for a short plat is hereby approved per the conditions of approval in the Staff Report for the hearing date of April 14,2026, attached as Exhibit A. D. Notice of Applicable Time Limits Notice of Short Plat Duration Please take notice that approval of a preliminary plat, combined preliminary and final plat, or short plat shall become null and void if the applicant fails to obtain the city engineer's signature on the final plat within two(2)years of the approval of the preliminary plat or the combined preliminary and final plat or short plat(UDC 11-6B-7A). In the event that the development of the preliminary plat is made in successive phases in an orderly and reasonable manner, and conforms substantially to the approved preliminary plat, such segments,if submitted within successive intervals of two(2)years,may be considered for final approval without resubmission for preliminary plat approval(UDC 11-6B-7B). Upon written request and filed by the applicant prior to the termination of the period in accord with 11-6B-7.A,the Director may authorize a single extension of time to obtain the City Engineer's signature on the final plat not to exceed two(2)years. Additional time extensions up to two(2)years as determined and approved by the City Council may be granted.With all extensions,the Director or City Council may require the preliminary plat, combined preliminary and final plat or short plat to comply with the current provisions of Meridian City Code Title 11. If the above timetable is not met and the applicant does not receive a time extension,the property shall be required to go through the platting procedure again(UDC 1I- 6B-7C). E. Judicial Review Pursuant to Idaho Code § 67-6521(1)(d),if this final decision concerns a matter enumerated in Idaho Code § 67-6521(1)(a), an affected person aggrieved by this final decision may,within twenty-eight (28)days after all remedies have been exhausted, including requesting reconsideration of this final decision as provided by Meridian City Code § 1-7-10, seek judicial review of this final decision as provided by chapter 52,title 67,Idaho Code. This notice is provided as a courtesy; the City of Meridian does not admit by this notice that this decision is subject to judicial review under LLUPA. F. Notice of Right to Regulatory Takings Analysis Pursuant to Idaho Code §§ 67-652 1(1)(d)and 67-8003,an owner of private property that is the subject of a final decision may submit a written request with the Meridian City Clerk for a regulatory takings analysis. G. Attached: Staff Report for the hearing date of April 14,2026 FINDINGS OF FACT,CONCLUSIONS OF LAW AND DECISION&ORDER FOR CENTERCAL EXPANSION SUBDIVISION SHP-2026-0003 -2- By action of the City Council at its regular meeting held on the 28th day of April 2026. COUNCIL PRESIDENT JOHN OVERTON VOTED COUNCIL VICE PRESIDENT ANNE LITTLE ROBERTS VOTED COUNCIL MEMBER DOUG TAYLOR VOTED COUNCIL MEMBER LUKE CAVENER VOTED COUNCIL MEMBER LIZ STRADER VOTED COUNCIL MEMBER BRIAN WHITLOCK VOTED MAYOR ROBERT SIMISON VOTED (TIE BREAKER) Mayor Robert E. Simison 4-28-2028 Attest: Chris Johnson 4-28-2028 City Clerk Copy served upon Applicant, Community Development Department,Public Works Department and City Attorney. By: Dated: 4-28-2028 City Clerk's Office FINDINGS OF FACT,CONCLUSIONS OF LAW AND DECISION&ORDER FOR CENTERCAL EXPANSION SUBDIVISION SHP-2026-0003 -3- EXHIBIT A COMMUNITY DEVELOPMENT (: WE IDIAN --- DEPARTMENT REPORT HEARING 4/14/2026 _< E TAHITi DR E RIVER VALLEY ST DATE: 3 E"1 TO: Mayor& City Council o FROM: Sonya Allen,Associate Planner ss kM 208-884-5533 E,LLAGE NR sallen@meridiancity.org tJONGWING E ELDEN GRA' APPLICANT: Ella Passey, The Land Group ��7ONARCR SRY iN SUBJECT: SHP-2026-0003 CenterCal Expansion Subdivision LOCATION: 3395 E. Longwing Ln.,in the southwest7 1/4 of Section 4, T.3N.,R.IE. (Parcel —.- --- ` '//4 #R1343720710) = E11°"E"CE°RMIS A T � z I. PROJECT OVERVIEW A. Summary Short Plat consisting of four(4)buildable lots 14.23 acres of land in the C-G zoning district for CenterCal Expansion Subdivision. B. Issues/Waivers None C. Recommendation Staff recommend approval of the proposed short plat per the provisions in Section IV in accord with the Findings in Section V. D. Decision Pending II. COMMUNITY METRICS Table 1:Land Use Description Details Map Ref. Existing Land Use(s) Vacant(developed with building pads and a parking lot) - Proposed Land Use(s) Commercial - Existing Zoning C-G IL VII.A.2 Adopted FLUM Designation Mixed Use—Regional(MU-R) VII.A.3 City of Meridian I Department Report 1. Project Overview III. STAFF ANALYSIS Comprehensive Plan and Unified Development Code(UDC) A. History The subject property is a re-subdivision of a portion of Lot 2,Block 2,CenterCal Subdivision.A property boundary adjustment(PBA-2022-0003)was approved in 2022 that created the boundary of the property included in the proposed short plat(ROS#13558). Future development of the property is governed by a development agreement(Original—Inst. #108131103; lst Addendum—Inst. #111052692,re-recorded as Inst. #111055939;2nd Addendum —Inst. #112025435). A Certificate of Zoning Compliance and Design Review application(A-2025-0044 The Village at Meridian Phase 2B Bldg. Z)was approved in 2025 for a new 30,808 square foot retail building and associated site improvements for Buildings Z,Q and V in the C-G zoning district on the subject property. The infrastructure improvements for the proposed lots were approved with LDIR-2025-0043. B. General Overview This property is designated as Mixed Use—Regional(MU-R) on the Future Land Use Map (FLUM)contained in the Comprehensive Plan. The purpose of this designation is to provide a mix of employment,retail,residential dwellings,and public uses near major arterial intersections. The proposed short plat will subdivide the existing 14.23-acre parcel into four(4)new buildable lots for future development. The proposed subdivision meets the applicability standards listed in UDC 11-6B-5A.1 in order to be processed as a short plat. Table 2:Proiect Overview Description Details History AZ-07-012(DA Inst.#108131103);VAR-07-017;MDA-11-002(lst Addendum to DA Inst.# 111052692);PP-11-012;FP-12-008;MDA-11- 012(2"d Addendum to DA Inst.#112025435);PBA-2022-0003 -ROS #13558;A-2025-0044 Phasing Plan 1 Acreage 14.23 acres Lots 4 building lots C. Site Development and Use Analysis 1. Existing Structures/Site Improvements (UDC 11-1): Three(3) structures are currently under construction on this site(A-2025-0044). The site has been improved with a parking lot with landscape planter islands. The street buffer improvements along adjacent streets were installed with CZC-11-021 (Meridian Town Center). 2. Proposed Use Analysis (UDC 11-2): No specific use is proposed with this application. 3. Dimensional Standards (UDC 11-2): The proposed plat and subsequent development is required to comply with the dimensional standards listed in UDC Table 11-2B-3 for the C-G zoning district. City of Meridian I Department Report III. Staff Analysis D. Design Standards Analysis 1. Structure and Site Design Standards (Comp Plan, UDC I1-3A-19): Future development is required to comply with the structure and site design standards listed in UDC 11-3A-19 and the design standards in the Architectural Standards Manual. 2. Landscaping (UDC 11-3B): i. Landscape buffers along streets Landscaped street buffers exist on the site along N. Eagle Rd.,E.Fairview Ave. and E. Village Dr.that were constructed with the site improvements associated with Certificate of Zoning Compliance CZC-11-021.No new street buffers are required and no changes are proposed or required to existing street buffers. ii. Storm integration Per UDC 11-3B-11,the applicant shall meet the intent to improve water quality and provide a natural, effective form of flood and water pollution control through the integration of vegetated,well designed stormwater filtration swales and other green stormwater facilities into required landscape areas,where topography and hydrologic features allow if part of the development. E. Transportation Analysis 1. Access (Comp Plan 6.01.02C, UDC 11-3A-3, UDC 11-3H-4): There is an existing right-in/right-out/left-in access(E. Longwing Ln.)via SH-55/N. Eagle Rd. approved with VAR-07-017 in 2008. A right-in access drive exists via E.Village Dr. Another full-access via E. Village Dr. exists alongside the east boundary of the proposed plat that provides access to the subject property.No new accesses are proposed with the subject short plat application. All lots shown on the plat will provide reciprocal cross-access for vehicular and pedestrian ingress and egress to the public rights-of-way and to the utility easements as noted on the plat. Cross-access/ingress-egress easements should be granted between all the proposed lots and adjacent properties (i.e. Parcel#R1343720601, #R1343720800, #R1343720910, #R1343721500 and#R1343721000)for internal access from adjacent streets and shared parking. 2. Multiuse Pathways (UDC 11-3A-5): A multi-use pathway exists within the street buffers along E. Fairview Ave. &N. Eagle Rd. 3. Pathways (Comp Plan 4.04.O1A, UDC 11-3A-8): There is an existing north/south pathway through the parking lot on this property, no pathways are proposed. 4. Sidewalks (UDC 11-3A-17): There are existing sidewalks along adjacent streets. 5. Subdivision Regulations (UDC 11-6): i. Dead end streets Not applicable ii. Common driveways Not applicable iii. Block face City of Meridian I Department Report III. Staff Analysis Not applicable F. Services Analysis 1. Waterways (UDC 11-3A-6) There are no waterways on this property. 2. Pressurized Irrigation (UDC 11-3A-I5): The City of Meridian requires that pressurized irrigation systems be supplied by a year-round source of water(UDC 11-3B-6). The applicant should be required to use any existing surface or well water for the primary source. If a surface or well source is not available, a single- point connection to the culinary water system shall be required. If a single point connection is utilized, the developer will be responsible for the payment of assessments for the common areas prior to prior to receiving development plan approval. The infrastructure improvements for the proposed lots were approved with LDIR-2025-0043. 3. Storm Drainage (UDC 11-3A-18): An adequate drainage system is required in all developments by the City s adopted standards, specifications, and ordinances. Design and construction shall follow best management practices as adopted by the City as outlined in UDC 11-3A-18. 4. Utilities (Comp Plan 3.03.03G, UDC 11-3A-21): Ensure development is connected to City of Meridian water and sanitary sewer systems and the extension to and through said developments are constructed in conformance with the City of Meridian Water and Sewer System Master Plans in effect at the time of development. Water main,fire hydrant and water service require a twenty foot(20) wide easement that extends ten (10)feet past the end of main, hydrant, or water meter. No permanent structures, including trees are allowed inside the easement. Comprehensive Plan policy 3.03.03G requires urban infrastructure be provided for all new developments, including curb and gutter, sidewalks, water and sewer utilities. The infrastructure improvements for the proposed lots were approved with LDIR-2025-0043. IV. CITY/AGENCY COMMENTS & CONDITIONS A. Meridian Planning Division 1. The applicant shall comply with all previous conditions of approval for this development [AZ-07- 012—DA Inst. #108131103 Meridian Town Center; PP-11-012 (CenterCal Subdivision);FP-12- 008;MDA-11-002 (Inst. #111052692,2nd Amendment Inst. #112025435; PBA-2022-0003 -ROS #13558],as applicable. 2. Future development shall be consistent with the minimum dimensional standards listed in UDC Table 11-2B-3 for the C-G zoning district. 3. The short plat shall include the following revisions: a. Include a note granting cross-access/ingress-egress easements between all the proposed lots and adjacent properties (i.e.Parcel#RI343720601,#R1343720800,#R1343720910, #R1343721500 and#R1343721000); or,record a separate easement granting such and reference the recorded instrument number in a note on the plat. b. Note#4: Include the recorded instrument number of the City water and sewer easements. c. Note#16: Include the 2nd Amendment Inst.#112025435. City of Meridian I Department Report IV. City/Agency Comments& Conditions 4. Approval of the short plat shall become null and void if the applicant fails to obtain the City Engineer's signature on the final plat within two(2)years of the approval of the short plat, as set forth in UDC 11-613-7A.Upon written request prior to the expiration of the final plat,the Applicant may request an extension of time to obtain the City Engineer's signature on the final plat asset forth in UDC 11-613-7C. B. Meridian Public Works hyps://weblink.meridianciU.orglWebLink/DocView.aspx?id=434016&dbid=0&repo=MeridianC ky C. Meridian Fire Department https:llweblink.meridiancioy.org/WebLink/DocView.aspx?id=434022&dbid=0&repo=MeridianC Lty D. Idaho Department of Environmental Quality(DEQ) https:Ilweblink.meridiancily.org/WebLink/DocView.aspx?id=434267&dbid=0&repo=MeridianC ky E. Ada County Highway District(ACHD) https:llweblink.meridianciU.oL-glWebLinkIDocView.aspx?id=435071&dbid=0&repo=MeridianC Lty F. Nampa&Meridian Irrigation District(NMID) hyps:l/weblink.meridianciU.org/WebLink/DocView.aspx?id=436549&dbid=0&repo=MeridianC Lty G. Idaho Transportation Department(ITD) No comments received V. FINDINGS A. Short Plat(UDC-6B-6) In consideration of a preliminary plat,combined preliminary and final plat, or short plat,the decision-making body shall make the following findings: 1. The plat is in conformance with the comprehensive plan and is consistent with this unified development code; The Council finds the proposed plat is generally in conformance with the UDC with the conditions noted in Section IV and with the guidelines in the Comprehensive Plan. 2. Public services are available or can be made available and are adequate to accommodate the proposed development; The Council finds public services are available to the subject property and will be adequate to accommodate the proposed development. 3. The plat is in conformance with scheduled public improvements in accord with the city's capital improvement program; The Council finds the plat is in conformance with scheduled public improvements for this area in accord with the City's CIP. 4. There is public financial capability of supporting services for the proposed development; The Council finds there is public financial capability of supporting services for the proposed development. City of Meridian I Department Report V. Findings 5. The development will not be detrimental to the public health, safety or general welfare; and The Council finds the proposed development will not be detrimental to the public health, safety or general welfare. 6. The development preserves significant natural, scenic or historic features. The Council is unaware of any significant natural, scenic or historic features that need to be preserved with this development. VI. ACTION A. Staff: Staff recommend approval of the proposed short plat per the provisions in Section IV in accord with the Findings in Section V. B. City Council: The Meridian City Council heard this item on April 14,2026.At the public hearing,the Council moved to approve the subject short plat request. 1 Summary of the City Council public hearing: a. In favor: Jason Densmer and Juan Montoya b. In opposition:None c. Commenting None d. Written testimony:None e. Staff presenting application: Bill Parsons f Other Staff commenting on application: one 2 Key issue(s)of public testimony: a. None 3. Key issue(s)of discussion by City Council: a. None City of Meridian I Department Report VI.Action ' 1 1 C .. 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Exhibits VE IDIAN:--- AGENDA ITEM ITEM TOPIC: Fiscal Year 2026 Net-Zero Budget Amendment in the amount of$31,200 for Alive @25 Instructor Grant Funding Lo N Ul � Q N � c v N E o, z z W \ m O un N oN ° 0 0❑l N \ $ E A C N C Ln } } \ •- co N N u ❑❑ ° N Q m m n +' a a u u a � Z w- `n c G e �} 4 (u C U G u �VuI V f0 7 U Ul Z O N L }}O H YO to d E O Q u m e Y W vYi 0 j W m W C UJ N u O U FLn i 3 w W N m m y Z 3 O p, z z c LT L V C C ti O J Qj O y� Qi LL > OJ Ul a. Ul O N v o o) a) +' o u Q v� a s a wn � o w D o E E co N G1 O m 0 O N _ O 1aj/1 C C G O Oi fu p rn o m o o O o o g o O ai o LL N N N N m M j- m m m M O H c F F 4..1..-�.-. C E O — O o += 3 C y C o O C O am-i m O LU m 3 00 U w C a c v a) 0 v U im+ o ,m O O O v O .a �° a FO- n fl F •� 7 tUii O o G U O vLu1 LL v c U N m o v a v 0 O v U m � o N o C7 m > •� u w o l7 C7 C7 �i n. 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N > N p > U C Y W E W >- r,4 c-i c-i a y A C O O N L a/ >- 7 (CC 7 U C 'O a u o m m tlo a) N > N C Y L C = L (tea `1 a `J U C E _ cr Cn<n n y o v oc a`Eri c 0 E :a u 3 Z c on c j m `a rn U bo Y a o a s c = = Y c a) p .^ a }' i ha w o a) v m o o m m a`ai ac m E E $ m= q m c y n ha = c ry o a) v m a . E E m $ o M >, v1 a Qj a) O V O O. Q (a j } O Ow O)� t Y « a v o v E c c I p E w Gj to c c Q o! c o c v d u v o 3 E m w a) n a ^ w m +J 3 3 ° n a o Y N :E c: p aC v (O al U m >• n1 N w U = V1 C N H () fa I � a) 0 '""' C — e a) N a s tlo t '^ U al o o qj a) Y m N O E y p N _ O Q ti Q N o d. F a O u Fp- W a '4 `^ �.A N F-_—.. 'i 6 a o C7 vi > Z h oo ai`-.._. "' U E IDIAN,,z - AGENDA ITEM ITEM TOPIC: Fiscal Year 2026 Net-Zero Budget Amendment Request in the Amount of $10,000.00 for Fire Prevention Education Materials N 02 7 N � M � E U) U) a � N c X z z ODN p w o p m o ❑� ❑ C) (D O LL W 1{1{1{I{..1����JJJ11«III JJJI to y V d_ -y U U j a O v c c a h� = E V) U o v vv 0 `oa 0 m d m o c o E o Y Q W m N rn W W 3 C CD a v W ° 3 u " W >_ � > E E v o CC m GJ m m m y Z rn E Y z z E _ a >+ I I c N O = IY a) a) cc Y Q CL y 01 E N a) CDO a O C O 0 0 — O +_+ C E 0 ODm O al t'i w N 4 0 U O E v O 1 Q c c C a) ~ w 'u Q 0, N {n uw uw uw uw uw uw uw uw vw vw vw vw in O) °' m Q Q o c ° m N C `o ++ a C >. 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Currently, the department relies on a simulator provided through Ada County Emergency Management. However, as demand for this resource continues to increase across Ada County, availability has become limited, restricting our ability to consistently deliver hands-on fire extinguisher training within the Meridian community. Proposal Approval is being sought to purchase a dedicated fire extinguisher simulator for the Meridian Fire Department. This equipment would be utilized by the Community Risk Reduction Division to enhance public education programming, community outreach events, school visits, and stakeholder trainings. Owning a simulator will ensure consistent access and allow the department to expand delivery of high-quality, hands-on fire safety education. Rationale As the Meridian Fire Department continues to prioritize community risk reduction and public safety, it is essential to invest in tools that support effective education and prevention efforts. Hands-on fire extinguisher training has proven to be one of the most impactful ways to increase public confidence and competency in responding to small fires. Meridian Fire Department 33 E. Broadway, Suite 210, Meridian, ID 83642 Phone 208-888-1234 . Fax 208-895-0390 . www.meridiancity.org 1n2e oty,�k� The City of Meridian's Strategic Plan emphasizes reducing loss of life and property, improving emergency outcomes, and enhancing public education efforts. Additionally, the Fire Department's Strategic Plan identifies the need to strengthen community engagement and expand risk reduction initiatives. A fire extinguisher simulator directly supports these goals by providing realistic, safe, and repeatable training experiences. While the shared resource through Ada County Emergency Management has been valuable, increasing regional demand has made it difficult to rely on consistent access. Purchasing a dedicated unit will ensure reliability, improve program delivery, and support expanded outreach efforts. Cost The total cost of the fire extinguisher simulator is $14,429. The Community Risk Reduction Division is requesting approval to fund this purchase through a budget amendment process, using available funds of $10,000 donated from Light My Fire. Summary In conclusion, the purchase of a fire extinguisher simulator will address a current gap in equipment availability and significantly enhance the Meridian Fire Department's public education capabilities. This tool has proven to be a valuable asset in delivering effective,hands-on fire safety training. Securing a dedicated unit will ensure consistent access, support expanded programming, and align with both City and Department strategic priorities focused on improving community safety and reducing risk. The one-time cost of$14,429 will be partially funded through Light My Fire donation funds, with $10,000 allocated from this source. These funds are being requested through the budget amendment process. Meridian Fire Department 33 E. Broadway, Suite 210, Meridian, ID 83642 Phone 208-888-1234 . Fax 208-895-0390 . www.meridiancity.org LION' 7200 Poe Ave Quote#: 00010608 Suite 400 Date: 4/13/2026 ready for action Dayton, OH 45414 Salesrep: Diana Limbrick Ph: 518-689-2023 Expires: 5/31/2026 FAX: 518-689-2024 Payment Terms: 2% 10 Net 30 Bill To: Ship To: Contact: Meridian Fire Department- ID Meridian Fire Department-ID Carly Shears 540 E. Franklin Rd 33 E. Broadway Ave cshears@meridiancity.org Meridian, ID 83642 Meridian, ID 83642 2089419738 United States United States Item No. Product Name Qty List Price Discount Extended Price BEPB03-1 B# BullsEyeTM V3 Base Package 1 $ 14,932.74 15.0% $ 12,692.83 BuIlsEye Digital Fire Extinguisher Training System is a laser-driven fire extinguisher trainer.It provides the ability to train on 3 classes of fire(A,B,C) and has 10 levels of difficulty.This base package has everything you need to get started training today. Includes: (1)BuIlsEye Panel,(1)Get Started Kit with Setup Remote,User Manual and Power Supply/Cables (1)BuIlsEye Panel Transport Case (1)51b Dry Chem Laser Extinguisher,(1)Get Started Kit with Charger,(1)Extinguisher Transport Case BEE05RF# BullsEyeTm 2 kg/5 lb Dry Chemical Digital Laser Extinguisher(RF) 1 $ 1,894.25 15.0% $ 1,610.11 Subtotal: $ 14,302.94 Shipping and Handling: USD 126.00 Tax%: Grand Total: USD 14,428.94 Thank you for contacting LION,we value your request and hope this offer suits your training needs. Please feel free to contact us about this quote or how LION fire training products can enhance your training scenarios. Terms & Conditions https://www.lionprotects.com/hubfs/LION-General Terms and-Conditions of Sale and-Delivery-Rev 12 21.pdf Pricing excl.VAT.,local taxes or import duties. All sales or agreements made in connection with this quote shall be governed by the General Terms and Conditions of Sale and Delivery provided at the web page accessible above or here of Lion First Responder PPE,Inc.,with its place of business at 7200 Poe Avenue,Suite#400,Dayton,OH 45414,and companies or enterprises affiliated therewith(hereinafter jointly referred to as Supplier). Page: 1 /1 E IDIAN,,z - AGENDA ITEM ITEM TOPIC: Resolution No. 26-2585: A Resolution of the City Council of the City of Meridian Appointing Brad Hoaglun to the Meridian Utility Billing Review Committee; and Providing an Effective Date CITY OF MERIDIAN RESOLUTION NO. 26-2585 BY THE CITY COUNCIL: CAVENER, LITTLE ROBERTS, OVERTON, STRADER, TAYLOR,WHITLOCK A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MERIDIAN APPOINTING BRAD HOAGLUN TO THE MERIDIAN UTILITY BILLING REVIEW COMMITTEE; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the Meridian City Code § 2-3-6 establishes the Utility Billing Review Committee and its member qualifications, and Meridian City Code § 2-3-3 establishes its terms of appointment; and WHEREAS, the City Council of the City of Meridian deems it to be in the best interest of the citizens of the City of Meridian to appoint Brad Hoaglun to Seat 3 of the Meridian Utility Billing Review Committee as recommended by Mayor Simison and described herein. NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF MERIDIAN CITY, IDAHO: Section 1. That,pursuant to Meridian City Code § 2-3-6 and § 2-3-3, Brad Hoaglun is hereby appointed to the Utility Billing Review Committee with a term to expire on April 28, 2027; Section 2. That this Resolution shall be in full force and effect immediately upon its adoption and approval. ADOPTED by the City Council of the City of Meridian, Idaho, this 281h day of April, 2026. APPROVED by the Mayor of the City of Meridian, Idaho, this 281h day of April, 2026. APPROVED: ATTEST: By: Mayor Robert E. Simison Chris Johnson, City Clerk RESOLUTION APPOINTING BRAD HOAGLUN TO UTILITY BILLING REVIEW COMMITTEE PAGE 1 E IDIAN,,z - AGENDA ITEM ITEM TOPIC: Fiscal Year 2025 Financial Audit Report N . 1 2 �1 M 1� 1 9 cn ar- y:. ■ . r imp ■ E IDIAN�- � I�AHO WE, -HO N? This page Intentionally left blank City Meridian,Idaho TABLE OF CONTENTS September mber 30,2025 Independent Auditors Report_____________________________________________________________.5 Management's Discussion and Analysis -----------------------------------------------------10 Government-Wide Financial Statements Statementof Net Position....................................................................................................................................... 21 Statementof Activities............................................................................................................................................. 23 Fund Financial Statements Balance Sheet — Governmental Funds.................................................................................................................... 25 Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Position........................ 27 Statement of Revenues, Expenditures, and Changes in Fund Balances — Governmental Funds ....................... 28 Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Statement of Activities.......................................................................................... 29 Statement of Net Position — Proprietary Fund....................................................................................................... 30 Statement of Revenues, Expenses,and Changes in Fund Net Position — Proprietary Fund............................... 32 Statement of Cash Flows — Proprietary Fund........................................................................................................ 33 Statement of Fiduciary Net Position....................................................................................................................... 34 Statement of Changes in Fiduciary Net Position................................................................................................... 35 Fund Financial Statements Notes to Financial Statements................................................................................................................................ 37 Required Supplementary Information Schedule of Employer's Share of Net Pension Liability(Asset) and Employer Contributions............................. 59 Schedule of Revenues, Expenditures, and Changes in Fund Balance — Budget and Actual — General Fund..... 61 Notes to Required Supplementary Information...................................................................................................... 62 Other Information Schedule of Revenues, Expenditures and Changes in Fund Balance — Budget and Actual — Capital ProjectsFund........................................................................................................................................................ 65 Schedule of Revenues, Expenditures and Changes in Fund Balance — Budget and Actual — Enterprise Fund. 66 Single Audit Section Schedule of Expenditures of Federal Awards......................................................................................................... 74 Notes to Schedule of Expenditures of Federal Awards......................................................................................... 75 Schedule of Findings and Questioned Costs ......................................................................................................... 76 FINANCIAL STATEMENTS WE, -HO N? This page Intentionally left blank Eide 4Baflly Independent Auditor's Report To the Mayor and Members of the City Council City of Meridian, Idaho Report on the Audit of the Financial Statements Opinions We have audited the financial statements of the governmental activities,the business-type activities, the aggregate discretely presented component unit, and each major fund of the City of Meridian, Idaho (the City), as of and for the year ended September 30, 2025, and the related notes to the financial statements,which collectively comprise the City's basic financial statements as listed in the table of contents. In our opinion, the accompanying financial statements referred to above present fairly, in all material respects,the respective financial position of the governmental activities, the business-type activities,the aggregate discretely presented component unit, and each major fund of the City, as of September 30, 2025, 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 (GAAS) and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States (Government Auditing Standards). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the City 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. Adoption of New Accounting Standard As discussed in Note 9 to the financial statements, the City has adopted the provisions of Governmental Accounting Standards Board (GASB) Statement No. 101, Compensated Absences,for the year ended September 30, 2025.Accordingly, a restatement has been made to the Enterprise Fund Water and Sewer net position, and the governmental activities and business-type activities net position as of October 01, 2024,to restate beginning fund balance and net position. Our opinions are not modified with respect to this matter. eidebailly.com 877 W.Main St.,Ste.800 • Boise,ID 83702-5858 • T 208.344.7150 • F 208.344.7435 • EOE ...................................................................................... . City of Meridian,Idaho September 30,2025 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 the City'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. Auditor's 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 auditor's 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 GAAS 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. 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 GAAS 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 the City'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 the City's ability to continue as a going concern for a reasonable period of time. • " FINANCIAL STATEMENTS City of Meridian,Idaho ............................ ..................................................................................... September 30,2025 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, Schedule of Employer's Share of Net Pension Liability(Asset) and Employer Contributions, and the Schedule of Revenues, Expenditures, and Changes in Fund Balance— Budget and Actual—General Fund 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 GAAS,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's basic financial statements.The Schedule of Revenues, Expenditures and Changes in Fund Balance—Budget and Actual—Capital Projects Fund,the Schedule of Revenues, Expenditures and Changes in Fund Balance—Budget and Actual—Enterprise Fund, and schedule of expenditures of federal awards, as required by Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (collectively referred to as supplementary information) are presented for purposes of additional analysis and are 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.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 GAAS. In our opinion,the supplementary information is fairly stated, in all material respects, in relation to the basic financial statements as a whole. FINANCIAL STATEMENTS ...................................................................................... . City of Meridian,Idaho September 30,2025 Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards,we have also issued our report dated April 13, 2026, on our consideration of the City's internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts,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 the results of that testing, and not to provide an opinion on the effectiveness of the City'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's internal control over financial reporting and compliance. " G7-0 Boise, Idaho April 13, 2026 FINANCIAL STATEMENTS WE, -HO N? This page Intentionally left blank Management's Discussion and Analysis City of Meridian,Idaho MANAGEMENT'S DISCUSSION AND ANALYSIS ............................ . . . ....................................................... September 30,2025 Management's Discussion and Analysis This section of the City of Meridian's(City's)annual financial report presents management's discussion and analysis of the City's financial performance during the year ended September 30, 2025. Please use this information in conjunction with the information furnished in the City's financial statements. Financial Highlights • The total assets and deferred outflows of the City exceeded its liabilities and deferred inflows at September 30,2025 by$766,407,992 as compared to $752,995,183 at September 30,2024. • Net position of the Governmental activities finished the fiscal year 2025 at$221,570,997. • Net position of Business-type activities finished fiscal year 2025 at$544,837,000. • Total unrestricted fund balance of governmental funds at September 30,2025 was$33,708,779 as compared to a total unrestricted governmental fund balance at September 30,2024 of$45,499,581. • Total unrestricted fund balance of business-type funds at September 30,2025 was$75,264,421 as compared to a total unrestricted business-type fund balance at September 30,2024 of$104,877,971. • The City's total outstanding long-term debt at September 30,2025 is $0. Overview of the Financial Statements This discussion and analysis are intended to serve as an introduction to the City's basic financial statements.The basic financial statements have four components—government-wide financial statements,fund financial statements, notes to the financial statements, and required supplementary information. Government-Wide Financial Statements These statements report information about all of the operations of the City using accounting methods similar to those used by private sector companies. These statements are prepared using the flow of economic resources measurement focus and accrual basis of accounting. The current year's revenues and expenses are recorded as transactions occur rather than when cash is received or paid. The government-wide financial statements are divided into two categories: Statement of Net Position — Reports the City's assets (what the City owns) and liabilities (what the City owes)with the difference between the two 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. Statement of Activities — Reports all of the City's revenues and expenses for the year by function. Examples of functions are public safety, administration, and water and sewer activities. Revenues, such as property tax which cannot be traced to a specific function, are reported as General Revenues. FINANCIAL STATEMENTS M.ANAGEMENT. 'S.DISCUSSION. . . . . .AND. .ANALYS. .IS.................... City of Meridian,Idaho .. ........ ............ .. .... . ... .. . .. .... ......... . .. September 30,2025 Government-Wide Financial Statement Analysis Statement of Net Position At September 30, 2025 the City's combined assets and deferred outflows exceeded liabilities and deferred inflows by$766,407,992 as compared to the net position as of September 30,2024 of$752,995,183. Government-wide total assets and deferred outflows of resources increased from last fiscal year to finish fiscal year 2025 at$918,422,219 primarily due to the implementation of GASB 101. Government-wide total liabilities and deferred inflows of resources increased from last fiscal year to finish fiscal year 2025 at$152,014,227 primarily due to the implementation of GASB 101. The largest portion of the City's net position is invested in capital assets net of related debt. Capital assets include land, building,equipment and machinery, IT subscriptions,and sewer and water utility infrastructure. The table below has been condensed from the Statement of Net Position. Primary Government Governmental Activities Business-Type Activities Total 2025 2024 2025 2024 2025 2024 Assets Current and other assets $ 177,331,743 $ 176,201,549 $ 100,629,776 $ 122,967,150 $ 277,961,519 $ 299,168,699 Non-current assets 158,887,065 157,276,606 469,790,113 420,527,960 628,677,178 577,804,566 Deferred outflows of resources 9,824,716 10,856,852 1,958,806 2,223,692 11,783,522 13,080,544 TOTAL Assets and Deferred Outflows of Resources 346,043,524 344,335,007 572,378,695 545,718,802 918,422,219 890,053,809 Liabilities Current liabilities 15,436,360 9,336,301 18,833,867 12,297,796 34,270,227 21,634,097 Long-term liabilities 43,421,714 54,248,831 6,554,008 8,359,418 49,975,722 62,608,249 Deferred inflows of resources 65,614,460 52,682,585 2,153,818 133,695 67,768,278 52,816,280 TOTAL Liabilities and Deferred Inflows of Resources 124,472,534 116,267,717 27,541,693 20,790,909 152,014,227 137,058,626 Net position Net investments in capital assets 155,434,279 154,059,845 469,572,579 420,049,922 625,006,858 574,109,767 Restricted 32,427,939 28,507,864 - - 32,427,939 28,507,864 Unrestricted 33,708,779 45,499,581 75,264,421 104,877,971 108,973,200 150,377,552 TOTAL Net Position $ 221,570,997 $ 228,067,290 $ 544,837,000 $ 524,927,893 $766,407,997 $ 752,995,183 FINANCIAL STATEMENTS City of Meridian,Idaho MANAGEMENT'S DISCUSSION AND ANALYSIS ............................ . . . ....................................................... September 30,2025 Statement of Activities During the 2025 fiscal year the City's financial position increased by$23,722,297.The following condensed financial information was derived from the government-wide Statement of Activities and shows how the City's net position changed during the year. Government-wide total revenues decreased from last fiscal year to finish fiscal year 2025 at $167,571,579. Overall revenues have decreased year over year associated with a slow down in development revenues along with the elimination of grant funding. Government-wide total expenses decreased from last fiscal year to finish fiscal year 2025 at$143,849,282. Overall expenditures decreased due to grant expenditures and capital projects that occurred in fiscal year 2024 that did not occur in fiscally 2025. Primary Government Governmental Activities Business-Type Activities Total 2025 2024 2025 2024 2025 2024 Revenues Program revenues Charges for services $ 15,085,370 $ 16,572,552 $ 37,259,900 $ 35,518,424 $ 52,345,270 $ 52,090,976 Operating grants and contributions 4,162,868 5,563,383 10,749,629 14,350,752 14,912,497 19,914,135 Capital grants and contributions 9,443,747 14,981,294 13,360,342 26,671,040 22,804,089 41,652,334 General revenue Property taxes 50,714,328 48,352,956 - - 50,714,328 48,352,956 Franchise fees 2,128,675 2,231,298 2,128,675 2,231,298 Sales tax and other governmental 15,942,704 15,219,210 15,942,704 15,219,210 Investment earnings 4,081,898 4,673,868 4,408,491 5,207,000 8,490,389 9,880,868 Other revenue 169,497 1,355,903 64,130 1,848,766 233,627 3,204,669 Total revenues 101,729,087 108,950,464 65,842,492 83,595,982 167,571,579 192,546,446 Expenses General government Administration 16,313,704 19,722,238 - - 16,313,704 19,722,238 Police 30,397,928 35,165,856 30,397,928 35,165,856 Fire 33,929,343 27,854,715 33,929,343 27,854,715 Parks and recreation 16,181,203 15,176,299 16,181,203 15,176,299 Community dev. 6,538,559 6,204,197 6,538,559 6,204,197 Enterprise-sewer and water - - 40,488,545 40,411,812 40,488,545 40,411,812 Total expenses 103,360,737 104,123,305 40,488,545 40,411,812 143,849,282 144,535,117 Excess(deficiency)of revenues over expenditures before transfers (1,631,650) 4,827,159 25,353,947 43,184,170 23,722,297 48,011,329 Transfers-internal activities 4,283,120 3,625,476 (4,283,120) (3,625,476) Change in net position 2,651,470 8,452,635 21,070,827 39,558,694 23,722,297 48,011,329 Net position,beginning of year,as restated 218,919,530 219,614,655 523,766,174 485,369,199 742,685,704 704,983,854 Net position,ending of year S 221,571,000 $228.067.290 $544,837,001 $524,927,893 $766.408.001 $752,995. 883 FINANCIAL STATEMENTS M.ANAGEMENT. 'S.DISCUSSION. . . . . .AND. .ANALYS. .IS.................... City of Meridian,Idaho .. ........ ............ .. .... . ... .. . .. .... ......... . .. September 30,2025 Fund Financial Statements The fund financial statements provide information about the City's major funds, not the City as a whole. The City uses a method of accounting, called fund accounting, to separate specific sources of funds and corresponding expenditures. Funds may be required by law or may be established by the City Council. At the end of a fiscal year the unreserved fund balance serves as a useful measure of a government's net resources. The City has the following funds: Governmental Funds: These funds encompass the City's basic services, public safety, community planning and development, administration, and parks and recreation. Governmental fund financial statements focus on short- term inflows and outflows of spendable resources, an accounting approach known as the flow of current financial resources measurement focus and the modified accrual basis of accounting. Information provided by these statements provides a short-term view of what resources will be available to meet needs. The City has two governmental funds: • General Fund — The general fund is the general operating fund of the City. It derives most of its income from property tax and funds the operations of the City. It includes the Development Services Fund, used to account for revenue and expenses of the community planning and development function, and the Public Safety Fund used to set aside funds for police and fire capital projects. It also includes the Impact Fee Fund used to account for park and public safety impact fee revenue and capital acquisitions. • Capital Projects Fund —The Capital Projects Fund is used to account for financial resources to be used for the acquisition of major capital facilities. The City has one proprietary fund: Enterprise Fund (Business-Type Activities): User fees finance activities in this fund. The water and sewer utilities and all the activities necessary to support their operation are accounted for in this fund.Accounting for this fund is the same as a private business on a full accrual basis. The City has one fiduciary fund: The City established the"City of Meridian Employee Benefits Plan Trust"(the Trust)in January 2020.All health claims are paid from this Trust and all plan contributions are deposited into the Trust.The Trust uses a calendar year basis as its fiscal year and the most recent audited financial statements are presented as part of this financial statement (fiscal year ended December 31,2024). Fund Financial Statements Analysis Governmental Funds The General Fund had an ending fund balance of$93,840,432 for fiscal year 2025,an increase from the ending fund balance at the end of fiscal year 2024,which was $91,614,558.This represented an overall increase in ending fund balance of 2.4%. The Capital Project Fund ending fund balance increased from fiscal year 2024 to fiscal year 2025,to finish the year at $11,508,376. The increase was seen primarily in the cash and cash equivalents balance which increased by approximately$493,000,as the City utilized its financial resources to continue providing improvements to local area infrastructure, including the continued development of Discovery Park. General Fund revenues decreased by approximately$0.8 million to finish the year at$99,752,233.The decrease was primarily attributable to an increase in property taxes (increase of $3.1 million), a decrease in interest earnings ( decrease of$0.5 million),a decrease in Intergovernmental of$2.1 million,and a decrease in the impact fee revenue amounts (decrease of$1.8 million). FINANCIAL STATEMENTS City of Meridian,Idaho MANAGEMENT'S DISCUSSION AND ANALYSIS ............................ . . . ....................................................... September 30,2025 Capital Project Fund revenue amounts decreased from fiscal year 2024 by$119,535,which was due to the reduction of available funds in the Capital Project Fund to invest. Expenditures for the General Fund had a decrease of$1.5 million, which was attributable to a decrease in capital structure investments to Public Safety, and Parks & Recreation segments of the City. Public Safety and General Government for the General Fund increased from fiscal year 2024 by$3.1 million to finish the year at$75.0 million. For the Capital Project Fund, expenditures had a decrease of $2.6 million, to finish the year at $7,156. The City managed limited major capital infrastructure projects during fiscal year 2025. Enterprise Fund (Business-Type Activities) Ending Net Position for the Business-Type activities increased significantly from fiscal year 2024,to finish the year at $544,837,000.There were numerous contributing factors that led to the increase,with an increase in the capital asset amounts contributing towards the majority of the adjustment. Operating revenues for the Business-Type activities increased due to an overall increase in water and sewer sales, an increase of $1.7 million from fiscal year 2024. The largest increase was $1.8 million for charges for services, which was due to an increase in the number of overall customers being served. Nonoperating revenues decreased by$3.5 million from 2024. The largest decrease was in the connections assessment fees and donations amount, which decreased by$.9 million from 2024. Expenditures for the Business-Type activities also increased from fiscal year 2024 by$0.1 million,to finish the year at$40.5 million.The largest increase was in personnel services,which represents the City's investment in its people. Fiduciary-Type Activities The Trust uses a calendar year basis as its fiscal year and the most recent audited financial statements are presented as part of this financial statement (fiscal year ended December 31,2024). Total assets ended the year at$2,543,637.Amounts represented cash on hand,receivables to the Trust and prepaid expense. Total Liabilities ended the year at $585,070. Amounts represent the claims incurred but not reported and claims payable as of December 31,2024. During the year ended December 31,2024,additions to the Trust totaled$9,377,458.Amounts reported as additions represent contributions to the Trust through employee and employer contributions, as well as interest income and prescription rebates. During the year ended December 31,2024,deductions from the Trust totaled$10,160,038. Deductions from the Trust are primarily comprised of health claim benefits paid,which totaled $9,075,007. Notes to the Financial Statements The notes provide additional information that is necessary to fully understand the data presented in the government- wide and fund financial statements. Required Supplementary Information This section has information that further explains and supports the information in the financial statements by including a comparison of the City's budget data for the year, as well as the City's schedule of employer's share of net pension liability and the City's Schedule of employer contributions and the City's schedule of expenditures of federal awards. FINANCIAL STATEMENTS M.ANAGEMENT. 'S.DISCUSSION. . . . . .AND. .ANALYS. .IS.................... City of Meridian,Idaho .. ........ ............ .. .... . ... .. . .. .... ......... . .. September 30,2025 General Fund Budgetary Highlights Budget to Actual comparisons are found following the Notes to the Financial Statements within the Supplemental section of this Audit Report. Below is a discussion regarding the General Fund Budget to Actual comparison. The final fiscal year 2025 overall expenditure budget was $126,073,992 as compared to the actual expenditures of $103,051,504. There are three categories of budget expenditures: personnel, operating, and capital outlay. The discussion below will address each category and the differences between budget and actual. The total actual personnel expense for the 2025 fiscal year was $71,407,320 as compared to the final budget of $74,653,970. The primary reason for the variance between actual and budget is related to the amount of vacancy positions that were not filled during the fiscal year. The total actual operating expense was $21,168,184 as compared to the final budget of$33,058,400. The largest budget to actual variance for the operating expenses is due to City receiving a Federal Grant that was not expensed during the fiscal year. Federal Grant dollars will be spent during fiscal year 2026 and 2027. The total General Fund 2025 capital expense was $9,836,861 as compared to the final budget of$18,361,622.The largest budget to actual variance for capital expenses is related to construction in progress projects associated to our Parks construction projects. The fiscal year 2025 General Fund actual revenue of$99,752,233 fell short of the final budget of$109,090,818. The largest percentage of General Fund revenue resides in property tax and finished fiscal year 2025 at$51,409,806. Intergovernmental revenue sharing is the second largest revenue stream in 2025 and finished the fiscal year lower than fiscal year 2024 at$20,166,014.The third largest source of non-restricted General Fund revenue in fiscal year 2025 was licenses and permits, namely building permit sales. At the end of 2025,the licenses and permits revenue finished the year at$6,536,935. • " FINANCIAL STATEMENTS City of Meridian,Idaho MANAGEMENT'S DISCUSSION AND ANALYSIS ............................ . . . ....................................................... September 30,2025 Capital Asset and Debt Administration Capital Assets At the end of fiscal year 2025,the City had$628,459,644 invested in capital assets(net of accumulated depreciation and amortization). The City's investment in capital assets includes land, buildings, sewer and water lines, IT subscriptions,leases,and vehicles and equipment.Sidewalks,bridges,and roads belong to the Ada County Highway District. Major capital asset changes in the General Government Funds in 2025 included (net of depreciation): • a decrease of$4,163,023 in Buildings and improvements; • an increase of$4,113,704 in Land; • an increase of$1,773,901 in Easements; • an increase of$777,482 in Construction in progress; • a decrease of$752,126 in Right to use subscription IT assets; • a decrease of$97,428 in Equipment. Major capital asset changes in the Business-Type Funds in 2025 included (net of depreciation): • an increase of$41,819,950 in Construction in progress; • an increase of$5,341,749 in Equipment; • an increase of$3,392,063 in Easements; • a decrease of$3,202,896 in Buildings and improvements; • an increase of$2,171,791 in Sewer and water lines. Capital Assets as of September 30,2025 (net of depreciation) Total Primary Governmental Activities Business-Type Activities Government 2025 2024 2025 2024 2025 2024 Land $ 39,677,969 $ 35,564,265 $ 10,673,807 $ 10,673,807 $ 50,351,776 $ 46,238,072 Easements 2,941,024 1,167,123 30,825,878 27,433,815 33,766,902 28,600,938 Buildings and improvements other than buildings 99,629,921 103,792,944 82,613,313 85,816,209 182,243,234 189,609,153 Sewer and water lines - - 229,644,100 227,472,309 229,644,100 227,472,309 Equipment 9,925,166 10,022,594 29,587,547 24,245,798 39,512,713 34,268,392 Construction in progress 3,288,258 2,510,776 86,227,934 44,407,984 89,516,192 46,918,760 Right to use subscriptions 3,246,011 3,998,137 - - 3,246,011 3,998,137 Right to use lease 178,716 220,767 - 178,716 220,767 $ 158,887,065 $ 157,276,606 $469,572,579 $ 420,049,922 $ 628,459,644 $ 577,326,528 The City recorded $8,906,557 in depreciation and amortization expense for Governmental City functions and $15,443,128 for Business-type activities. (See Note 5 to the financial statements). FINANCIAL STATEMENTS M.ANAGEMENT. 'S.DISCUSSION. . . . . .AND. .ANALYS. .IS.................... City of Meridian,Idaho .. ........ ............ .. .... . ... .. . .. .... ......... . .. September 30,2025 Debt Administration The only outstanding obligations the City had as of September 30,2025,related to the outstanding right to use leased assets and IT subscriptions and (See Note 6 and 7 to the financial statements). Fiscal Year 2026 Economic Factors and Budgetary Considerations The City of Meridian prepares an economic forecast as a component in the process of developing the annual budget. Following local and national indicators currently affecting the City of Meridian,the City's approved FY2026 budget anticipated a level of economic activity commiserate with the prior year. Since the spring of 2012,construction and development continues to be active and steady.The following considerations by the City Council were taken when it adopted the FY2026 Budget: • The City provided compensation increases for general employees. • The City considered the current FY2025 economic conditions and trends while working on the FY2026 budget. • The City maintained that a conservative approach to revenue projections was in the best interest of the City. • The City Council elected to increase the annual property taxes by 3.0%which is allowable by State code. • The City continued to the practice of taking on no debt. • The City's sewer and water customer utility accounts project to see an increase in sales by 2.45%year over year as growth slows down as compared to years past. • The City continues to see population growth year over year with a previous 10-year annual average of about 5%. Requests for Information This report is designed to provide a general overview of the City of Meridian's finances for our citizens and customers. If you have questions about this report or need additional financial information, please visit the City's Finance Department webpage or contact: City of Meridian Finance Department 33 E. Broadway Ave. Meridian, Idaho 83642 Phone: (208) 888-4433 FINANCIAL STATEMENTS WE, -HO N? This page Intentionally left blank Government-Wide Financial Statements City of Meridian,Idaho GOVERNMENT-WIDE FINANCIAL STATEMENTS ---------------------------- - - - - - - - - - - ------------------------------ September 30,2025 Statement of Net Position Year Ended September 30, 2025 Primary Government Governmental Business-type Component Activities Activities Total Unit ASSETS Current assets Cash and cash equivalents $ 52,038,607 $ 48,141,750 $ 100,180,357 $ 11,756,704 Restricted cash and cash equivalents 30,250,481 - 30,250,481 - Investments 28,121,410 46,803,932 74,925,342 Restricted investments 2,461,222 - 2,461,222 - Receivables: Accounts receivable,net 1,477,305 5,290,188 6,767,493 5,960 Property taxes 53,980,885 - 53,980,885 5,418,729 Due from opioid settlement 1,262,687 1,262,687 - Due from other governmental units 5,235,779 5,235,779 Interest 343,004 295,134 638,138 - Deposits and prepaid expenses 2,041,911 98,772 2,140,683 9,714 Lakeview inventory 118,452 - 118,452 - Total current assets 177,331,743 100,629,776 277,961,519 17,191,107 Noncurrent assets Long-term note receivable - 217,534 217,534 - Capital Assets Land,easements,and other assets not depreciated 45,907,251 127,727,619 173,634,870 672,384 Buildings,improvements and equipment,net of depreciation 109,555,087 341,844,960 451,400,047 - Right to use leased assets,net of accumulated amortization 178,716 - 178,716 Right to use subscription IT assets,net of accumulated amortization 3,246,011 - 3,246,011 - Total noncurrent assets 158,887,065 469,790,113 628,677,178 672,384 Deferred outflows of resources Pension obligations 9,824,716 1,958,806 11,783,522 - Total deferred outflows of resources 9,824,716 1,958,806 11,783,522 TOTAL ASSETS AND DEFERRED OUTFLOWS $ 346,043,524 $ 572,378,695 $ 918,422,219 $ 17,863,491 See Notes to Financial Statements FINANCIAL STATEMENTS ' GOVERNMENT-WIDE FINANCIAL STATEMENTS City of Meridian,Idaho September 30,2025 Statement of Net Position Year Ended September 30, 2025 Primary Government Governmental Business-type Component Activities Activities Total Unit LIABILITIES Current liabilities Accounts payable $ 3,199,898 $ 15,378,342 $ 18,578,240 $ 26,350 Accrued payroll and taxes 3,553,806 787,425 4,341,231 - Customer deposits 1,221,252 1,621,070 2,842,322 Interest payable 130,463 - 130,463 Due within one year Compensated absences,current portion 6,741,931 1,047,030 7,788,961 Right to use IT subscription liability,current portion 551,499 - 551,499 Right to use lease liability,current portion 37,511 - 37,511 - Total current liabilities 15,436,360 18,833,867 34,270,227 26,350 Noncurrent liabilities Compensated absences-less current portion 7,898,375 1,026,024 8,924,399 - Due to developers - - - 2,717,404 Net pension liability 24,953,789 4,975,171 29,928,960 Right to use IT subscription liability,less current portion 2,736,325 - 2,736,325 - Right to use lease liability,less current portion 127,451 127,451 Advanced revenue-ARPA obligations 7,548,743 - 7,548,743 Advanced revenue-other 157,031 312,813 469,844 Settlement payable - 240,000 240,000 - Total noncurrent liabilities 43,421,714 6,554,008 49,975,722 2,717,404 Deferred inflows of resources Pension obligations 10,802,833 2,153,818 12,956,651 - Lease related 1,200,000 - 1,200,000 - Unavailable revenues-property taxes 53,611,627 - 53,611,627 5,179,659 Total deferred inflows of resources 65,614,460 2,153,818 67,768,278 5,179,659 TOTAL LIABILITIES AND DEFERRED INFLOWS 124,472,534 27,541,693 152,014,227 7,923,413 NET POSITION Net investments in capital assets 155,434,279 469,572,579 625,006,858 672,384 Restricted 9,267,694 Impact funds 32,426,652 - 32,426,652 - Grant funds 1,287 1,287 Unrestricted Capital improvements 11,508,376 - 11,508,376 General funds 22,200,403 75,264,421 97,464,824 - TOTAL NET POSITION 221,570,997 544,837,000 766,407,997 9,940,078 Total Liabilities,Deferred inflows of resources and Net Position $ 346,043,531 $ 572,378,693 $ 918,422,224 $ 17,863,491 See Notes to Financial Statements FINANCIAL STATEMENTS C r Z ; C N O O` O` O` r- M M CDC) CD N LO 00 00' C)CW CL G � � LO E cocr� cl� 'o 00 Ln -,t 0, O O M M r, M f6 Q ; C N (7` LO M Lt) N N N rl O O O` N w N ON 00 B O O C C kO nor) 'tM � M cmkonMkOd` d` r I�O M O r, �t r, 00 �00 N CDM�� m NU') m U') 00 Z ; m LO �o � � m �o00m NAM �t C'4 O N 0� 0000 0 w O O ON 00 N �o 00 r- m ' N LO rl O` M %o V +' Q CD L6 00 kO 1 O M O N L6 W n M N O N�o N Z too v N N I� N m m LO V �o s ^v^ ^ 0 Z LU + V> rn c f0 m �o ID OO OO �o o r- m rn"t CO0) E Q. 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N Li CL C7 H m m H 0 LL 0 Co LO -0 N O N Co O '6 M L L c� C H E 0 N T CD Q +J d U (n ■ Fund Financial City of Meridian,Idaho FUND FINANCIAL STATEMENTS ---------------------------- - - ------------------------------ September 30,2025 Balance Sheet — Governmental Funds Year Ended September 30, 2025 Total Major Capital Governmental General Fund Projects Funds ASSETS Cash and cash equivalents $ 40,569,785 $ 11,468,822 $ 52,038,607 Investments 28,121,410 - 28,121,410 Receivables: Accounts 1,477,305 1,477,305 Property taxes 53,980,885 53,980,885 Due from opioid settlement 1,262,687 1,262,687 Due from other governmental units 5,235,779 5,235,779 Interest 303,450 39,554 343,004 Prepaid items 2,041,911 - 2,041,911 Lakeview inventory 118,452 118,452 Restricted assets Cash and cash equivalents 30,250,481 30,250,481 Investments 2,461,222 2,461,222 Total assets $ 165,823,367 $ 11,508,376 $ 177,331,743 LIABILITIES,DEFERRED INFLOWS AND FUND BALANCE Liabilities Current liabilities Accounts payable $ 3,122,042 $ $ 3,122,042 Accrued payroll and taxes 3,553,806 3,553,806 Customer deposits-Lakeview Golf Course 157,031 157,031 Advanced revenue-ARPA obligations 7,548,743 7,548,743 Customer deposits 1,221,252 1,221,252 Total liabilities 15,602,874 15,602,874 Deferred Inflows of Resources Unavailable revenue-property taxes 53,917,382 53,917,382 Unavailable revenue-leases 1,200,000 1,200,000 Unavailable revenue-opioid settlement 1,262,687 1,262,687 Total liabilities and deferred inflows 71,982,943 71,982,943 See Notes to Financial Statements FINANCIAL STATEMENTS ' FUND-FINANCIAL- - - -STATE- M --------------------------------------- ENTS City of Meridian,Idaho -------- -- -------- -- - ------- ------------ September 30,2025 Balance Sheet — Governmental Funds Year Ended September 30, 2025 Total Major Capital Governmental General Fund Projects Funds Fund Balances Nonspendable Prepaids 2,041,911 2,041,911 Inventory for Lakeview Golf Course 118,452 118,452 Restricted Impact fund 32,024,632 32,024,632 Impact fund balance budget of carryforward 402,020 402,020 Grant fund 1,287 1,287 Committed Capital projects fund - 11,508,376 11,508,376 Fund balance budget of carryforward 3,791,490 - 3,791,490 Public safety fund 2,833,069 2,833,069 Assigned Fund balance budget of carryforward 5,347,613 5,347,613 Capital improvement plan 10,000,000 10,000,000 Operating reserve 22,701,504 22,701,504 Emergency reserve 7,071,110 7,071,110 Future debt service payments for leases and SBITA 5,352,346 5,352,346 Unassigned 2,154,998 2,154,998 Total fund balances 93,840,432 11,508,376 105,348,808 Total liabilities,deferred inflows of resources and fund balances $ 165,823,375 $ 11,508,376 $ 177,331,751 See Notes to Financial Statements 0 " FINANCIAL STATEMENTS City of Meridian,Idaho FUND FINANCIAL STATEMENTS ---------------------------- - - ------------------------------ September 30,2025 Reconciliation of the Balance Sheet of Governmental Funds to the Statement of Net Position Year Ended September 30, 2025 Fund balance-total governmental funds $ 105,348,808 Amounts reported for governmental activities in the statement of activities are different because: Capital assets,including right to use lease,subscription IT assets,used in governmental activities are not financial resources and therefore are not reported in the funds. 158,887,064 Retainage that are not due and payable in the current period and,therefore,are not reported in the governmental funds. (77,856) Some of the property taxes receivable are not available to pay for current-period expenditures and therefore are deferred in the funds. 305,755 Some of the Opioid Settlement receivable are not available to pay for current-period expenditures and therefore are deferred in the funds. 1,262,687 Long-term obligation is not due and payable in the current period and therefore is not reported in the funds. Net pension liability (24,953,789) Deferred outflows and inflows of resources related to pension obligations. 9,824,716 Deferred inflows of resources related to pensions. (10,802,833) Right of use IT subscription and liabilities are expensed at the fund level but reported as a liability due within one year on the Statement of Net Position. (3,287,824) Right of use lease and liabilities are expensed at the fund level but reported as a liability due within one year on the Statement of Net Position. (164,962) Accrued interest payable is not due and payable in the current period and therefore is not reported in the funds. (130,463) Accrued vacation is not due and payable in the current period and therefore is not reported in the funds. (14,640,306) Net Position of governmental activities $ 221,570,997 See Notes to Financial Statements FINANCIAL STATEMENTS ' FUND-FI-NANCIAL- - -STATEMENTS- --------------------------------------- City of Meridian,Idaho -------- -- -------- -- - ------- ------------ September 30,2025 Statement of Revenues, Expenditures, and Changes in Fund Balances - Governmental Funds Year Ended September 30, 2025 Total Major Capital Governmental General Fund Projects Funds Revenues Taxes $ 51,409,806 $ $ 51,409,806 Intergovernmental 20,166,014 20,166,014 Licenses and permits 6,536,935 6,536,935 Charges for services 5,752,746 5,752,746 Franchise fees 2,128,675 2,128,675 Fines and forfeitures 704,712 704,712 Impact revenues 7,519,846 7,519,846 Interest 3,588,664 493,234 4,081,898 Donations 1,908,273 - 1,908,273 Miscellaneous 36,562 - 36,562 Total revenues 99,752,233 493,234 100,245,467 Expenditures General government 13,222,152 - 13,222,152 Public safety Police 34,257,981 - 34,257,981 Fire 27,602,692 7,156 27,609,848 Parks and recreation 11,425,529 - 11,425,529 Community development 6,067,150 6,067,150 Capital outlay 9,836,861 9,836,861 Debt service 639,139 639,139 Total expenditures 103,051,504 7,156 103,058,660 Excess(deficiency)of revenues over(under)expenditures (3,299,271) 486,078 (2,813,193) Other financing sources(uses) Operating transfer in 4,283,120 - 4,283,120 Operating transfer out - - Unrealized gain(loss)on investments 87,903 (21,451) 66,452 IT-subscriptions asset agreement 1,087,638 1,087,638 Proceeds from leased asset agreement - - Proceeds from sale of capital assets 66,483 66,483 Total other financing sources(uses) 5,525,144 (21,451) 5,503,693 Net change in fund balances 2,225,873 464,627 2,690,500 Fund balance,beginning of year,as previously reported 91,614,558 11,043,749 102,658,307 Restatements - - - Fund balance,beginning of year 91,614,558 11,043,749 102,658,307 Fund balance,end of year $ 93,840,431 $ 11,508,376 $ 105,348,807 See Notes to Financial Statements FINANCIAL STATEMENTS City of Meridian,Idaho FUND FINANCIAL STATEMENTS ---------------------------- - - ------------------------------ September 30,2025 Reconciliation of the Statement of Revenues, Expenditures, and Changes in Fund Balances of Governmental Funds to the Statement of Activities Year Ended September 30, 2025 Change in fund balance-total governmental funds $ 2,690,500 Amounts reported for governmental activities in the statement of net position are different because: Governmental funds report capital outlay 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. This is the amount by which capital outlays exceeded depreciation and loss on sale of assets in the current period. New capital 9,836,861 Depreciation (8,906,557) SBITA and lease amortization (629,635) Total 300,669 Capital assets contributed by citizens or developers are not a source of financial resources and thus,are not recognized in the governmental funds. 1,773,901 Some property tax revenue in the statement of activities does not provide current financial resources and is not reported as revenue in the governmental funds. (695,478) Some court revenue in the statement of activities does not provide current financial resources and is not reported as revenue in the governmental funds. 272,259 Expenditures related to the net pension liability that do not require the use of current financial resources and therefore are not reported as expenditures in governmental funds. (1,814,901) Expenditures related to the long-term portion of accrued vacation do not require the use of current financial resources and therefore are not reported as expenditures in governmental funds. 757,083 Debt Service Payments for principal payment are reported as expenditures in the governmental funds, but are not reported as expenses in the statement of activities. Subscription and lease principal payments 447,359 The issuance of long-term debt provides current financial resources to governmental funds,but are not reported as revenues in the statement of activities resources of governmental funds. Subscription and lease proceeds (1,087,638) Interest expense accrued but not paid reported in the statement of activities does not require the use of current financial resources and therefore is not reported as expenditures in governmental funds. 7,712 Change in net position of governmental activities $ 2,651,466 See Notes to Financial Statements FINANCIAL STATEMENTS ' FUND-FI-NANCIAL- - -STATEMENTS- --------------------------------------- City of Meridian,Idaho -------- -- -------- -- - ------- ------------ September 30,2025 Statement of Net Position - Proprietary Fund September 30, 2025 Enterprise Fund Water and Sewer Assets Current assets Cash and cash equivalents $ 48,141,750 Investments 46,803,932 Receivables Accounts,net Accounts receivable,gross 5,320,188 Allowance for uncollectibles (30,000) Interest 295,134 Prepaids 98,772 Total current assets 100,629,776 Noncurrent assets Long-term notes receivable 217,534 Capital assets Land 10,673,807 Easements 30,825,878 Construction in progress 86,227,934 Buildings and improvements other than buildings 157,432,132 Sewer and water lines 314,984,356 Machinery and equipment 66,360,045 Less accumulated depreciation (196,931,573) Total noncurrent assets 469,790,113 Total assets 570,419,889 Deferred outflow of resources Pension 1,958,806 Total assets and deferred outflow of resources $ 572,378,695 See Notes to Financial Statements FINANCIAL STATEMENTS City of Meridian,Idaho FUND FINANCIAL STATEMENTS ---------------------------- - - ------------------------------ September 30,2025 Statement of Net Position - Proprietary Fund September 30, 2025 Enterprise Fund Water and Sewer Liabilities,deferred inflow of resources and net position Liabilities Current liabilities Accounts payable $ 15,378,342 Accrued payroll and taxes 787,425 Accrued vacation-current portion 1,047,030 Customer deposits 1,621,070 Total current liabilities 18,833,867 Noncurrent liabilities Accrued vacation-less current portion 1,026,023 Settlement payable 240,000 Pension payable 4,975,171 Advanced revenue 312,813 Total noncurrent liabilities 6,554,007 Total liabilities 25,387,874 Deferred inflow of resources Pension 2,153,818 Total deferred inflow of resources 2,153,818 Net position Net investment in capital assets 469,572,579 Unrestricted 75,264,421 Total net position 544,837,000 Total liabilities,deferred inflow of resources and net position $ 572,378,692 See Notes to Financial Statements FINANCIAL STATEMENTS ' FUND-FINANCIAL- - - -STATEMENTS- --------------------------------------- City of Meridian,Idaho -------- -- -------- -- - ------- ------------ September 30,2025 Statement of Revenues, Expenses, and Changes in Fund Net Position - Proprietary Fund September 30, 2025 Enterprise Fund Water and Sewer Operating revenues Charges for services Water sales $ 11,976,140 Sewer sales 22,013,522 Other service revenues 945,806 Sale of meters 529,123 Trash billing service 1,543,108 Engineering fees 252,200 Miscellaneous 8,358 Total operating revenues 37,268,257 Operating expenses Personnel services 14,502,917 Other services and charges 4,570,841 Depreciation 15,443,128 Supplies 4,103,415 Heat,lights and power 1,868,244 Total operating expenses 40,488,545 Operating income(loss) (3,220,288) Nonoperating revenues(expenses) Interest revenue 4,408,491 Connection assessment fees and donations 14,348,690 Gain(loss)on sale of fixed assets (91,466) Net gain in fair value of investments 147,238 Total nonoperating revenues(expenses) 18,812,953 Income(loss) before capital contributions and transfers 15,592,665 Capital contributions and transfers Donated waterlines and sewerlines 9,761,281 Operating transfers out (4,283,120) Total capital contributions and transfers Change in net position 21,070,826 Net position,beginning of year,as previously reported 524,927,893 Restatements(Note 9) (1,161,719) Net position,beginning of year,as restated 523,766,174 Net position,end of year $ 544,837,000 See Notes to Financial Statements FINANCIAL STATEMENTS City of Meridian,Idaho FUND FINANCIAL STATEMENTS ---------------------------- - - ------------------------------ September 30,2025 Statement of Cash Flows — Proprietary Fund Year Ended September 30, 2025 Enterprise Fund Water and Sewer Operating activities Receipts from customers and users $ 37,268,258 Receipts from customers deposits (223,432) Payments to suppliers (5,090,684) Payments to employees (14,151,060) Net cash from(used for)operating activities 17,803,082 Noncapital financing activities Investment earnings 147,238 Operating transfer to general fund (4,283,120) Net cash from(used for)noncapital financing activities (4,135,882) Capital and related financing activities Connection assessment fees 14,348,690 Net change from sale of capital assets (91,466) Receipts from note receivable 108,063 Purchase of capital assets (55,204,504) Net cash from(used for)capital and related financing activities (40,839,217) Investing activities Sales of investments (2,002,151) Interest received 4,523,269 Net change from (used for) investing activities 2,521,118 Net change in cash and cash equivalents (24,650,899) Cash and cash equivalents,beginning of year 72,792,649 Cash and cash equivalents,end of year $ 48,141,750 Reconciliation of operating loss to net cash from operating activities Operating income(loss) $ (3,220,288) Adjustments to reconcile operating income to net cash from operating activities Depreciation 15,443,128 Pension expense 2,285,010 Changes in assets and liabilities Accounts receivable (272,211) Prepaid items (1,498) Accounts payable 5,725,526 Accrued payroll and taxes (1,933,153) Customer deposits (223,432) Net cash from(used for)operating activities $ 17,803,082 Supplemental Disclosure of Cash Flow Information Developer and customer contributed sewer and water lines $ 9,761,281 See Notes to Financial Statements FINANCIAL STATEMENTS ' City of Meridian,Idaho FUND FINANCIAL STATEMENTS ---------------------------- - - ------------------------------ September 30,2025 Statement of Changes in Fiduciary Net Position Year Ended December 31, 2025 Employee Benefit Plan Trust Additions Contributions Employer $ 8,189,138 Plan member 880,703 COBRA 16,466 Total contributions 9,086,307 Prescription rebates 283,304 Interest income 7,847 Total additions 9,377,458 Deductions Health claim benefits 9,075,007 Change in health claims incurred but not paid (122,165) Stop loss premiums 598,805 Administrative expenses 608,391 Total deductions 10,160,038 Change in fiduciary net position (782,580) Fiduciary net position,beginning of year $ 2,741,147 Fiduciary net position,end of year $ 1,958,567 See Notes to Financial Statements FINANCIAL STATEMENTS ' FUND-FINANCIAL- - - -STATEMENTS- --------------------------------------- City of Meridian,Idaho -------- -- -------- -- - ------- ------------ September 30,2025 Statement of Fiduciary Net Position December 31, 2025 Employee Benefit Plan Trust Assets Cash $ 2,381,142 Contributions receivable 1,628 Rebates receivables 72,850 Prepaid expense 88,017 Total current assets 2,543,637 Liabilities Claims Payable 106,070 Health claims incurred but not reported 479,000 Total liabilities 585,070 Fiduciary Net Position $ 1,958,567 See Notes to Financial Statements FINANCIAL STATEMENTS 0 CO LO -0 N O N Ca O '6 M L L c� C H E 0 N T CD Q +J d U (n ■ City of Meridian,Idaho NOTES TO FINANCIAL STATEMENTS ............................ . . .............................. September 30,2025 Notes to Financial Statements Note 1 - Summary of Significant Accounting Policies The City of Meridian, Idaho (the City)was incorporated August, 1903.The City operates under a mayor and council form of government and provides the following services as authorized by its charter;public safety(police and fire), community planning and development, parks and recreation,general administrative services, and water and sewer service. The accounting and reporting policies of the City relating to the funds included in the accompanying basic financial statements conform to generally accepted accounting principles applicable to state and local governments. The Governmental Accounting Standards Board (GASB) is the accepted standard setting body for establishing government accounting and financial reporting principles.The more significant of the City's accounting policies are described below. Financial Reporting Entity As required by generally accepted accounting principles, these basic financial statements present the City in conformance with GASB. Component units are organizations that are included in the reporting entity because of the significance of their operational or financial relationships with the City and are legally separate organizations for which the City is financially accountable. The component unit column in the combined financial statements is the financial data of the City's single component unit,the Meridian Development Corporation(MDC). MDC is a separate and distinct legal entity created by state statute.The directors of MDC are appointed by the Mayor and approved by the City Council. MDC promotes downtown development services for the citizens of the City. Complete financial statements can be obtained from the City of Meridian Division of Financial Management,33 East Broadway Avenue, Meridian, Idaho. The City of Meridian Employee Benefit Plan Trust(the Trust) is reported as a Fiduciary Activity of the City.The Trust reports under GASB standards in the same manner as the City. The Trust uses a calendar year basis as its fiscal year and the most recent audited financial statements are presented as part of this financial statement (fiscal year ended December 31,2024). Government-Wide and Fund 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 nonfiduciary activities of the primary government. The effect of interfund activity has been removed from these statements. 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 support. The statement of activities demonstrates the degree to which the direct expenses of a given function or segment are offset by program revenues. Direct expenses are those that are clearly identifiable with a specific function or segment. Program revenues include charges to customers or applicants who purchase,use,or directly benefit from goods,services, or privileges provided by a given function or segment,grants and contributions that are restricted to meeting the operational or capital requirements of a particular function or segment. Taxes and other items not properly included among program revenues are reported instead as general revenues. Separate financial statements are provided for governmental funds, proprietary funds and fiduciary funds. Major individual governmental funds and major individual enterprise funds are reported as separate columns in the fund financial statements. FINANCIAL STATEMENTS NOTES.TO. ..FINANCIAL. . STATEMENTS. . . .................................. City of Meridian,Idaho .......... . . ...... .... ................ . . ... September 30,2025 Measurement Focus, Basis of Accounting, and Financial Statement Presentation The government-wide financial statements are reported using the economic resources measurement focus and the accrual basis of accounting,as are the proprietary fund financial statements. 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 revenue 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 government 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. Property taxes,franchise taxes,licenses,and interest associated with the current fiscal period are all considered to be susceptible to accrual and so have been recognized as revenues of the current fiscal period. All other revenue items are considered to be measurable and available only when cash is received by the government. The City reports the following major governmental funds; General Fund-The General Fund is the general operating fund of the City. It is used for all financial resources except those required to be accounted for in another fund. Capital Projects Fund- The Capital Projects Fund is 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 proprietary fund; Enterprise Fund — The Enterprise Fund is used to account for water, sewer, and trash operations financed and operated in a manner similar to private business.The intent of the governing body is that costs(expenses,including depreciation) of providing goods or services to the general public on a continuing basis be financed or recovered primarily through user charges. Additionally, the governing body may have decided that periodic determination of revenues earned, expenditures incurred, and/or net income is appropriate for capital maintenance, public policy, management control,accountability or other purposes. The City reports the following other fund types; Fiduciary Fund—The Employee Benefit Plan Trust is used to account for the City's self-insured health insurance. Plan assets are dedicated to providing health benefits to current employees. As a general rule,the effect of inter-fund activity has been eliminated from the government-wide financial statements. Exceptions to this general rule are charges between various functions of the government when elimination of these charges would distort the direct costs and program revenues reported for the various functions concerned. Amounts reported as program revenues include: 1) charges to customers or applicants for goods, services, or privileges provided,2)operating grants and contributions,and 3) capital grants and contributions,including special assessments. Internally dedicated resources are reported as general revenues rather than as program revenues. Proprietary funds distinguish operating revenues and expenses from non-operating items. Operating revenues and expenses generally result from providing services and products 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 for services to customers for water and sewer sales and services. Operating expenses for enterprise funds include the cost of sales and services,administrative expenses,and depreciation on capital assets.All revenues and expenses, FINANCIAL STATEMENTS City of Meridian,Idaho NOTES TO FINANCIAL STATEMENTS ............................ . . .............................. September 30,2025 such as fees property owners pay to connect to the utility system, not meeting this definition are reported as non- operating revenues and expenses. Cash and Cash Equivalents For purposes of the statement of cash flows,the City considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. Property Taxes Receivable Within the governmental fund financial statement, property taxes are recognized as revenue when the amount of taxes levied is measurable,and proceeds are available to finance current period expenditures. Available tax proceeds include property tax receivables expected to be collected within sixty days after year end. Property taxes attach as liens on properties on January 1, and are levied in September of each year. Tax notices are sent to taxpayers during November, with tax payments scheduled to be collected on or before December 20. Taxpayers may pay all or one half of their tax liability on or before December 20, and if one half of the amount is paid,they may pay the remaining balance by the following June 20. Since the City is on a September 30 fiscal year end,property taxes levied during September for the succeeding year's collection are recorded as deferred inflow of resources at the City's year end and recognized as revenue in the following fiscal year.Ada County bills and collects taxes for the City. Customer Services Receivable Amounts owed to the City for customer services are due from area residents and businesses and relate to water, sewer and trash services provided by the City. The receivable is reported net of an allowance for uncollectible accounts. An allowance is reported when accounts are proven to be uncollectible.The allowance for uncollectible accounts was $30,000 as of September 30, 2025. Deposits and Prepaid Expenses Deposits and prepaid expenses consist of deposits paid by developers for various improvements as well as payments to vendors that reflect costs applicable to future accounting periods and are reported as prepaid expenses. Lease Receivable Lease receivables are recorded by the City as the present value of future lease payments expected to be received from the lessee during the lease term, reduced by any provision for estimated uncollectible amounts. Lease receivables are subsequently reduced over the life of the lease as cash is received in the applicable reporting period.The present value of future lease payments to be received are discounted based on the interest rate the City charges the lessee. Capital Assets Capital assets, which include property, plant, equipment and infrastructure assets (e.g., parks, wells, water and sewer lines and similar items) are reported in the applicable governmental or business-type activities columns in the government-wide financial statements. Capital assets are defined by the government as assets with an initial individual cost of $50,000 and over for machinery and equipment, $100,000 for intangibles, $250,000 and over for buildings, land improvements, and infrastructure,and an estimated useful life in excess of three years. Land acquisitions regardless of cost are recorded as capital assets. All material fixed assets are valued at cost. Donated fixed assets are valued at their acquisition value on the date donated. FINANCIAL STATEMENTS NOTES.TO. ..FINANCIAL. . STATEMENTS. . . .................................. City of Meridian,Idaho .......... . . ...... .... ................ . . ... September 30,2025 GASB requires the City capitalize and report intangible assets which includes the City's easement amounts. To value easements,the City uses the summation method, which closely looks at the impact of an easement on the total property value.The percentages agreed to are 26%for sewage and 10%for subsurface,resulting in an average easement assessment percentage of 18%. Depreciation is recorded by use of the straight-line method. The book value of each asset is reduced by equal amounts over its estimated useful life as follows: Estimated Useful Life (Years) Buildings 30 Sewer plant 25 Sewer and water lines 50 Improvements other than buildings 10 Equipment and software 5 Public domain infrastructure 25 Maintenance, repairs, and minor renewals are charged to operations as incurred. When an asset is disposed of, accumulated depreciation is deducted from the original cost and any gain or loss arising from its disposal is credited or charged to operations. Major outlays for capital assets and improvements are capitalized as projects are constructed. Interest costs incurred during construction of capital assets of business-type activities are capitalized when they are material. No interest costs were included as part of the cost of capital assets under construction in the current year. As of September 30,2025,no capital assets were considered to be impaired,and no impairment loss was recognized for the year ended September 30,2025. Lease Liabilities and Subscription-based IT Arrangements A lease and/or subscription-based information technology arrangement(SBITA)is defined as a contract that conveys control of the right to use another entity's nonfinancial asset,for a minimum contractual period of greater than one year, in an exchange or exchange-like transaction.The amortization periods range from 3-5 years. Lease liabilities represent the City's obligation to make lease payments arising from the lease. Lease liabilities are recognized at the lease commencement date based on the present value of future lease payments expected to be made during the lease term. The present value of lease payments are discounted based on a borrowing rate determined by the City. Subscription Liabilities represent the City's obligation to make subscription payments arising from the subscription contract. Subscription liabilities are recognized at the subscription commencement date based on the present value of future subscription payments expected to be made during the subscription term.The present value of the subscription payments are discounted on a borrowing rate determined by the City. Right to use subscription IT assets are recognized at the subscription commencement date and represent the City's right to use the underlying IT asset for the subscription term. Right to use subscription IT assets are measured in the initial value of the subscription liability plus any payments made to the vendor at the commencement of the subscription term, less any subscription incentives received from the vendor at or before the commencement of the subscription term,plus any capitalizable initial implementation costs necessary to place the subscription asset into service. Right to use subscription IT assets are amortized over the shorter of the subscription term or useful life of the underlying asset using the straight-line method.The amortization periods range from 3-5 years. ' " FINANCIAL STATEMENTS City of Meridian,Idaho NOTES TO FINANCIAL STATEMENTS ............................ . . .............................. September 30,2025 Compensated Absences Payable The City provides vacation and sick leave to its full-time employees. Earned vacation is paid to employees when taken or paid to employees or beneficiaries upon the employees'termination, retirement or death.The City does not pay earned sick pay upon the employees'termination,retirement or death for non-union employees.The Fire Department union members are paid ten percent of their sick leave accrual upon the employees' voluntary termination, 25% upon employees' retirement, and 100% upon employees' death. The amount of unused vacation accumulated by City employees is accrued as an expense when incurred in the Proprietary Fund, which uses the accrual basis of accounting. In the Governmental Funds,only the amount that normally would be liquidated with expendable available financial resources is accrued as current year expenditures.Unless it is anticipated that compensated absences will be used in excess of a normal year's accumulation, no additional expenditure is accrued. As of October 1,2024,the City adopted GASB Statement No. 101, Compensated Absences. The provisions of this standard modernize the types of leave that are considered a compensated absence and provides guidance for a consistent recognition and measurement of the compensated absence liability.The effect of the implementation of this standard on beginning net position is disclosed in Note 9. Deferred Outflows/Inflows of Resources The statement of net position includes a separate section for deferred outflows of resources.The separate financial statement element represents a consumption of net position that applies to future period(s)and will not be recognized as an outflow of resources(expense)until then.The City's deferred outflow of resources is its pension obligation.The pension obligation is the difference between projected and actual investment earnings,the changes in assumptions, the change the City's proportionate share of the City's net pension liability,and the contributions subsequent to the measurement date of the City's net pension liability. In addition to the liabilities,the statement of net position includes a separate section for deferred inflows of resources. This separate financial statement element represents an acquisition of net position that applies to future period(s) and will not be recognized as an inflow of resources (revenue) until then. The City has four items that currently qualify for reporting the category:the deferred property taxes,the deferred pension obligation, amounts relating to the opioid settlement and deferred inflows expected from leasing arrangements. For property taxes,these amounts are deferred and recognized as an inflow of sources in the period that the amounts become available.The employer deferred pension obligation results from the difference between the expected and actual experience of the pension plan and the net difference between projected and actual investment earnings on the pension plan investments. Opioid settlement amounts are recognized as a deferred inflow of resources until such time an eligible expenditure is incurred. Lease-related deferred inflows are resources not yet available to be recognized based on the provisions of the lease arrangement. Advanced Revenue The City reports advanced revenues on its Statement of Net Position and Fund Balance Sheet. Advanced revenues arise when resources are received by the City before it has a legal claim to them,as when grant monies are received prior to the occurrence of qualifying expenditures. In subsequent periods, when the City has a legal claim to the resources,the liability for advanced revenue is removed from the balance sheet and the revenue is recognized. Pensions For purposes of measuring the net pension liability and pension expense offset,information about the fiduciary net position of the Public Employee Retirement System of Idaho Base Plan (Base Plan) and additions to/deductions from the Base Plan's fiduciary net position have been determined on the same basis as they are reported by the Base Plan. 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. FINANCIAL STATEMENTS ' NOTES.TO. ..FINANCIAL. . STATEMENTS. . . .................................. City of Meridian,Idaho .......... . . ...... .... ................ . . ... September 30,2025 Net Position For government-wide reporting as well as in the proprietary fund,the difference between assets and deferred outflows of resources less liabilities and deferred inflows of resources is called net position. Net position is comprised of three components: investment in capital assets, restricted and unrestricted. Net investment in capital assets — consists of capital assets,net of accumulated depreciation and liability amounts relating to the lease and subscription liabilities. Restricted net position—consists of restricted assets reduced by liabilities and deferred inflows of resources related to those assets, if applicable. Assets are reported as restricted when constraints are placed on asset use either by external parties or by law through constitutional provision or enabling legislature. Unrestricted net position — consists of the net amount of the assets,deferred outflows of resources,liabilities, and deferred inflows of resources that does not meet the definition of the two preceding categories. The City may fund outlays for a particular purpose from both restricted and unrestricted sources. In order to calculate the amounts to report as restricted net position and unrestricted net position in the government-wide and proprietary fund financial statements,as flow assumption must be made about the order in which the resources are considered to be applied. It is the City's policy to consider restricted net position to have been depleted before unrestricted net position is applied. Fund Balances Fund balance of governmental funds is reported in various categories based on the nature of any limitation requiring the use for specific purposes. Fund balances in the governmental balance sheet are categorized as follows: Non-spendable-when the resources cannot be spent because they are either legally or contractually required to be maintained intact,or are in a non-spendable form such as inventories,prepaid accounts,and assets held for resale. Restricted- when the constraints placed on the use of resources are either: (a) externally imposed by creditors, grantors, contributors, or laws or regulations of other governments: or (b) imposed by law through constitutional provisions or enabling legislation. Committed-when the City Council passes an ordinance or resolution that places specific constraints on how the resources may be used. The City Council can modify or rescind the ordinance or resolution at any time through passage of an additional ordinance or resolution, respectively. Assigned-when it is intended for a specific purpose and the authority to "assign" is delegated to the City's Chief Financial Officer. Unassigned- fund balance is the residual classification for the General Fund. This classification represents fund balance that has not been restricted, committed, assigned, or deemed as non-spendable within the General Fund. This classification is also used to report any negative fund balance amounts in other governmental funds. The City Council adopted a Fund Balance Policy that establishes a practice of reserving four months of the current year budget of personnel and recurring annual operating costs as minimum fund balance needed to ensure sufficient cash flow to meet the City's obligations.This reserve will be in the unassigned fund balance.This policy also recommends a spending order of restricted,committed, assigned and then unassigned unless Council approves otherwise. Risk Management The City is exposed to various risks of loss related to theft of, damage to, or destruction of assets. The City participates in a public entity risk pool, Idaho Counties Risk Management Pool (ICRMP), for liability, medical and FINANCIAL STATEMENTS City of Meridian,Idaho NOTES TO FINANCIAL STATEMENTS ............................ . . .............................. September 30,2025 disability insurance.The City's exposure to loss from its participation in ICRMP is limited only to the extent of their deductible. Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenditures or expenses during the reporting period.Actual results could differ from those estimates. Note 2 - Cash and Investments Cash and investments as of September 30,2025 are classified in the accompanying financial statements as follows: Cash and cash equivalents $100,180,357 Cash and cash equivalents-restricted 30,250,481 Total cash and cash equivalents $130,430,838 Investments $ 74,925,342 Investments-restricted 2,461,222 Total Investments $ 77,386,564 Cash-fiduciary activities $ 2,381,142 Total cash-fiduciary activities $ 2,381,142 Investments Authorized by the State of Idaho and the City of Meridian's Investment Policy Investment types that are authorized for the City of Meridian by the Idaho Code and the City's investment policy are as follows: 1. Local,State and U.S. Agency Bonds 2. U. S. Agency Securities 3. Certificates of Deposit The City also participates in the State of Idaho Local Investment Pool(LGIP)and the State of Idaho Diversified Bond Fund (DBF). Both the LGIP and the DBF are regulated by Idaho Code under the oversight of the Treasurer of the State of Idaho.The Pools are not registered with the Securities and Exchange Commission or any other regulatory body. The State Treasurer does not provide any legally binding guarantees to support the value of the shares to participants. The LGIP is a low risk investment pool with high liquidity.Therefore,the City's investment in the pool is reported as a cash equivalent in the accompanying financial statements as it does not meet the definition of an investment.The LGIP is not currently rated by a nationally recognized rating agency.The funds are invested in short-term investments in the priority order of safety, liquidity,and yield. The DBF invests in longer term investment vehicles with higher returns over time than the LGIP. The DBF is not currently rated by a nationally recognized rating agency. However,the investment guidelines require that funds be invested in high quality securities that provide a high level of return, with a reasonable level of risk while meeting or exceeding the Bloomberg Capital Intermediate A+Aggregate Fixed Income Index.The City invests money in the DBF that it does not expect to need within the next three to five years.The City's investment in the DBF is reported based on its pro-rata share of the fair market value provided by the fund for the entire portfolio. FINANCIAL STATEMENTS ' NOTES.TO. ..FINANCIAL. . STATEMENTS. . . .................................. City of Meridian,Idaho .......... . . ...... .... ................ . . ... September 30,2025 Fair Value Hierarchy Investments are measured at fair value on a recurring basis. Recurring fair value measurements are those that GASB Statements require or permit 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.The following provides a summary of the hierarchy used to measure fair value. • Level 1 — Inputs are quoted prices in active markets for identical assets. • Level 2— Inputs other than quoted prices included within Level 1 that are observable for the asset or liability either directly or indirectly, including quoted prices for similar assets or liabilities. • Level 3—Valuations derived from valuation techniques in which significant valuation drivers are observable. The City's investment at September 30,2025 are valued using the net assets value(NAV) per share,as noted below. Investments valued using the NAV generally do not have readily obtainable market values and are instead valued based on the City's pro-rata share of the pool's fair value of the underlying assets. Investments measured at the net asset value(NAV) State of Idaho Diversified Bond Fund (DBF) $ 77,386,564 Total investments at NAV $ 77,386,564 Oversight for the Diversified Bond Fund is with the Idaho State Treasurer and Idaho Code,which defines allowable investments. In general,the investment guidelines require that funds be invested in high quality securities in a manner that provides higher total return than the shorter pools given a reasonable level of risk measured over a long period. Securities in DBF are shared positions valued at current market values.The City values these investments based on information provided bythe State of Idaho Treasurer's Office.The following table presents the unfunded commitments, redemption frequency and the redemption notice period for the City's investments measured at the NAV: Investments Measured at the NAV Unfunded Redemption Redemption Fair Value Commitments Frequency Notice Period State of Idaho Diviserfied Bond Fund(DBF) $ 77,386,564 None Monthly 5-25 days Interest Rate Risk Interest rate risk is the risk that changes in market interest rates will adversely impact 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. This risk can be managed using a calculation called duration that uses various inputs such as yield and years until maturity to estimate interest rate risk. Generally,the higher the duration number,the higher the risk. The City manages exposure to interest rate risk by purchasing a combination of long and short-term investments. The City manages the portfolio so it is not necessary to sell securities before maturity. The City's policy does not limit the duration of the investments. Investment Type Fair Value Rating Duration Idaho Diversified Bond Fund (DBF) $ 77,386,564 not rated 2.27 Idaho Local Government Investment Pool (LGIP) 107,375,871 not rated 0.15 years Money market funds 5,384,369 not rated Other cash amounts 17,670,597 Total cash and investments $ 207,817,401 ' ' " FINANCIAL STATEMENTS City of Meridian,Idaho NOTES TO FINANCIAL STATEMENTS ............................ . . .............................. September 30,2025 Credit Risk Generally, credit risk is the risk that an issuer of an investment will not fulfill its obligation to the holder of the investment.This is measured by the assignment of a rating by a nationally recognized statistical rating organization. The City's investment policy is consistent with the State Code related to credit risk. Concentration of Credit Risk When investments are concentrated in one issuerthis concentration represents increased risk of potential loss.The GASB has adopted a principal that governments should provide note disclosure when five percent of the entity's total investments are concentrated in any one issuer. Investments in obligations specifically guaranteed by the U.S. Government, mutual funds,and other pooled investments are exempt from disclosure.The City's investment policy has no limitations on the amount that can be invested in any one issuer. Other than State Investment Pools, no single issuer exceeded 5%or more of the City's total investments. 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 possession of an outside party. The custodial credit risk for investments is the risk that in the event of the 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. At year end,the carrying amount of the City's cash deposits was$130,430,838 and the bank balance was$131,054,962. Of the bank balance $250,000 was covered by federal depository insurance, $5,384,369 was collateralized with securities held at the Federal Home Bank of Seattle for First Interstate Bank and pledged to the City of Meridian, $107,375,871 was held by the State of Idaho Local Group Investment Pool,and the remainder of the City's deposits of$18,044,722 with First Interstate Bank are secured in an undivided collateral pool for public agencies. It is the City's policy to minimize exposure to custodial credit risk with investments by requiring that to the extent possible they be identified as to City of Meridian ownership and be held in the City's name.The City further reduces risk by confining investments to insured levels in any one institution. Note 3 - Due from Other Governmental Units The following summarizes the intergovernmental receivables at September 30,2025: State of Idaho State Tax Commission $ 3,908,297 State Liquor Dispensary 372,370 Idaho Transportation Department 6,378 Federal agencies 617,649 Other Governmental Agencies Meridian Rural Fire District 275,736 Ada County 45,178 West Ada School District 10,172 Total Due from Other Governmental Units $ 5,235,779 FINANCIAL STATEMENTS ' NOTES.TO. ..FINANCIAL. . STATEMENTS. . . .................................. City of Meridian,Idaho .......... . . ...... .... ................ . . ... September 30,2025 Note 4 - Note Receivable In December 2014,the City entered into an agreement to annex the homes in a subdivision outside of city limits and provide them with water and sewer service.The subdivision had a utility district,Meridian Heights Water and Sewer District (MHWSD), which was dissolved in December 2014 upon approval from the District Court. All assets and liabilities of MHWSD were transferred to the City at that time,including MHWSD's debt of$1,280,294,which is being repaid to the City by the former members of MHWSD over a period of 20 years at an interest rate of 3.5%as follows: Balance as Balance as of of October 1, Interest and September 30, 2024 Adjustments Payments 2025 Long-term note receivable $ 256,491 $ 8,754 $ (47,711) $ 217,534 The following represents future expected receipts from the note receivable amount: Annual Fiscal Years Payment 2026 $ 32,448 2027 32,448 2028 32,448 2029 32,448 2030 32,448 2031 55,294 Total $ 217,534 ' " FINANCIAL STATEMENTS City of Meridian,Idaho NOTES TO FINANCIAL STATEMENTS ............................ . . .............................. September 30,2025 Note 5 - Capital Assets Capital asset activity for the year ended September 30,2025, is as follows: Balance Oct. 1, Balance Sept. Governmental Activities 2024 Additions Deletions Transfers 30,2025 Capital assets,not depreciated Land $ 35,564,265 $ 4,113,704 $ $ $ 39,677,969 Easements 1,167,123 1,773,901 2,941,024 Construction in progress 2,510,776 2,029,767 - (1,252,285) 3,288,258 Total capital assets,not depreciated 39,242,164 7,917,372 (1,252,285) 45,907,251 Capital assets,depreciated Buildings 79,663,341 - - 706,042 80,369,386 Improvements other than buildings 76,864,415 1,518,290 - 78,382,706 Internally developed software 514,166 - - 514,165 Equipment 28,564,631 1,022,053 (456,226) 1,399,714 30,530,170 Total capital assets,depreciated 185,606,553 2,540,343 (456,226) 2,105,756 189,796,427 Less accumulated depreciation for Buildings 23,130,232 2,716,599 - 25,844,795 Improvements other than buildings 29,604,580 3,672,873 33,277,376 Internally developed software 471,606 33,420 505,025 Equipment 18,584,597 2,483,665 (456,226) 20,614,144 Total accumulated depreciation 71,791,015 8,906,557 (456,226) - 80,241,340 Total capital assets 153,057,702 1,551,158 853,471 155,462,338 Right to use Leased Assets Being Amortized Right to use leased gun range 248,197 248,197 Less Accumulated Amortization for Right to use leased gun range 27,430 42,051 69,481 Net right to use leased assets 220,767 (42,051) 178,716 Right to use Subscription IT Assets not Being Amortized 835,473 - (835,473) - Right to use Subscription IT Assets Being Amortized 3,507,650 1,093,188 (605,129) 3,995,709 Less Accumulated Amortization 344,986 587,584 (182,872) 749,698 Net right to use subscription IT assets,net 3,998,137 505,604 (422,257) (835,473) 3,246,011 Governmental activities capital assets,net $ 157,276,606 $ 2,014,711 $ (422,257) $ 17,998 $ 158,887,065 FINANCIAL STATEMENTS ' NOTES.TO. ..FINANCIAL. . STATEMENTS. . . .................................. City of Meridian,Idaho .......... . . ...... .... ................ . . ... September 30,2025 Balance Oct. 1, Balance Sept. Business-Type Activities 2024 Additions Deletions Transfers 30,2025 Capital assets,not depreciated Land $ 10,673,807 - - $ 10,673,807 Easements 27,433,815 3,392,065 30,825,878 Construction in progress 44,407,984 48,737,789 (6,917,840) 86,227,934 Total capital assets,not depreciated 82,515,606 52,129,854 (6,917,840) 127,727,619 Capital assets,depreciated Buildings and improvements other than buildings 153,754,110 3,695,228 (113,891) 96,686 157,432,132 Sewer and water lines 303,463,610 8,070,942 3,449,804 314,984,356 Machinery and equipment 61,913,965 1,183,652 (108,923) 3,371,350 66,360,045 Total capital assets,depreciated 519,131,685 12,949,822 (222,814) 6,917,840 538,776,533 Less accumulated depreciation for Buildings and improvements other than buildings 67,937,900 6,880,919 - 74,818,819 Sewer and water lines 78,995,971 6,344,285 85,340,256 Machinery and equipment 34,663,498 2,217,923 (108,923) 36,772,498 Total accumulated depreciation 181,597,369 15,443,127 (108,923) - 196,931,573 Total net capital assets,depreciated 337,534,316 (2,493,305) (113,891) 6,917,840 341,844,960 Business-type activities capital assets,net $ 420,049,922 $ 49,636,549 $ (113,891) $ - $ 469,572,579 Depreciation expense was charged to functions/programs of the City as follows: Governmental activities General government $ 1,290,724 Public safety 3,490,706 Parks and recreation 4,125,130 Total depreciation expense-governmental activities $ 8,906,560 Business-type activities Water and Sewer 15,443,127 Total depreciation expense-business-type activities $ 15,443,127 Amortization expense for the year ended September 30,2025 was charged to the following functions/programs: Administration $ 629,635 Total amortization expense $ 629,635 Note 6 - Leases Lessee Activities During the current year,the City entered into a lease agreement as lessee for the use of police training shooting range facility.The initial term is five years and contains year-to-year renewals at the City's option thereafter.The City's lease arrangements do not contain any material residual value guarantees.As the interest rate implicit in the City's leases is not readily determinable,the City utilized its incremental borrowing rate as of the lease inception date to discount the lease payments.The lease liability was valued using discount rate of 6.18%.The City is required to make principal and interest payments through January 2029. ' " FINANCIAL STATEMENTS City of Meridian,Idaho NOTES TO FINANCIAL STATEMENTS ............................ . . .............................. September 30,2025 A summary of the changes in lease liability during the year ended September 30,2025, is as follows: Balance Balance October 1, September 30, Due Within 2024 Additions Deletions 2025 One Year Right to use lease liability $ 200,197 $ $ (35,235) $ 164,962 $ 37,511 The remaining principal and interest payments on the lease agreement are as follows: Fiscal Years Principal Interest 2026 $ 37,511 $ 10,489 2027 39,896 8,104 2028 42,433 5,567 2029 45,122 2,877 Total $ 164,962 $ 27,037 Lessor Activities The City leases out a portion of its fire station building 7 and 8 to Ada County for the County's ambulance services. The initial lease term is 10 years,with an option to renew for another 10-year period. Payment for use of the spaces was paid in full by the County during the year ended September 30, 2025. Deferred inflows related to these leases was $1,200,000 as of September 30, 2025. $150,000 will be recognized as revenue each year of the agreement through fiscal year 2033. Note 7 - Subscription-Based Information Technology Arrangements (SBITAs) The City has several agreements that qualify for reporting as subscription-based information technology arrangements (SBITAs).The SBITA agreements include contracts for management software,data storage,and security. Payments are made annually on the SBITAs with annual payments ranging from $43,528-$283,684.The subscription liability was valued using discount rates between 5.00% and 6.14% using the City's incremental borrowing rate as of the inception date of the agreement. A summary of the changes in SBITA liability during the year ended September 30,2025, is as follows: Balance Balance October 1, September 30, Due Within 2024 Additions Deletions 2025 One Year Subscription IT liabilities $ 3,034,567 $ 1,087,638 $ (834,381) $ 3,287,824 $ 551,499 The remaining principal and interest payments on the SBITAs are as follows: Fiscal Years Principal Interest 2026 $ 551,499 $ 165,265 2027 572,887 161,713 2028 353,369 129,692 2029 311,356 109,043 2030 292,256 90,178 2031-2035 1,206,457 172,839 Total $ 3,287,824 $ 828,730 FINANCIAL STATEMENTS ' NOTES.TO. ..FINANCIAL. . STATEMENTS. . . .................................. City of Meridian,Idaho .......... . . ...... .... ................ . . ... September 30,2025 Note 8 - Interfund Balances and Transfers The following transfers were made for the purpose of funding operations: Transfer In Capital Projects General Fund Fund Total Transfer out General fund $ - $ $ - Enterprise fund 4,283,120 4,283,120 Total transfers $ 4,283,120 $ $ 4,283,120 The transfer from the enterprise fund to the general fund was related to personnel and operating costs that were paid by the general fund during Fiscal Year 2025. Note 9-Changes in Long-Term Obligations The following is a summary of changes in long-term obligations of the City for the year ended September 30,2025. Balance Balance October 1 September 30 Due Within 2024 Additions+ Payments 2025 One Year Accrued Vacation $ 5,974,364 $ 122,222 $ 6,096,586 $ 5,100,794 Accrued Sick Leave 9,702,022 914,752 10,616,774 2,688,167 Total long-term debt $15,676,386 $ 1,036,974 $ $ 16,713,360 $ 7,788,961 'The roll-forward schedule only reports the net change in the compensated absences liability. Change in Accounting Principle As of October 1,2025,the City adopted GASB Statement No. 101, Compensated Absences. The provisions of this standard modernize the types of leave that are considered a compensated absence and provides guidance for a consistent recognition and measurement of the compensated absence liability.Therefore,compensated absences current portion and compensated absences noncurrent portion were increased by $10,309,480, as of October 1, 2024.The effect of this change in accounting principle is described in the table below. October 1,2024 Change in As Previously Accounting October 1,2025, Reported Principle As Restated Government-Wide Governmental Activities $ 228,067,290 $ (9,147,760) $ 218,919,530 Business-Type Activities 524,927,893 (1,161,719) 523,766,174 Total Primary Government $ 752,995,183 $(10,309,479) $ 742,685,704 Proprietary Funds Major Funds: Enterprise Fund Water and Sewer $ 524,927,893 $ (1,161,719) $ 523,766,174 Total Proprietary Funds $ 524,927,893 $ (1,161,719) $ 523,766,174 ' FINANCIAL STATEMENTS City of Meridian,Idaho NOTES TO FINANCIAL STATEMENTS ............................ . . .............................. September 30,2025 Note 10 - Defined Benefit Pension Plan Plan Description The City contributes to the Base Plan which is a cost-sharing multiple-employer defined benefit pension plan administered by Public Employee Retirement System of Idaho (PERSI or System) that covers substantially all employees of the State of Idaho,its agencies and various participating political subdivisions.The cost to administer the plan is financed through the contributions and investment earnings of the plan. PERSI issues a publicly available financial report that includes financial statements and the required supplementary information for PERSI.That report may be obtained on the PERSI website at www.persi.idaho.gov. Pension Benefits The Base Plan provides retirement, disability, death and survivor benefits of eligible members or beneficiaries. Benefits are based on members'years of service,age,and highest average salary. Members become fully vested in their retirement benefits with five years of credited service (5 months for elected or appointed officials). Members are eligible for retirement benefits upon attainment of the ages specified for their employment classification. The annual service retirement allowance for each month of credited service is 2% (2.3% for police/firefighters) of the average monthly salary for the highest consecutive 42 months. The benefit payments for the Base Plan are calculated using a benefit formula adopted by the Idaho Legislature.The Base Plan is required to provide a 1% minimum cost of living increase per year provided the Consumer Price Index increases 1% or more. The PERSI Board has the authority to provide higher cost of living increases to a maximum of the Consumer Price Index movement or 6%,whichever is less; however, any amount above the 1% minimum is subject to review by the Idaho Legislature. Member and Employer Contributions Member and employer contributions paid to the Base Plan are set by statute and are established as a percent of covered compensation.Contribution rates are determined by the PERSI Board within limitations,as defined by state law.The Board may make periodic changes to employer and employee contribution rates(expressed as percentages of annual covered payroll)that are adequate to accumulate sufficient assets to pay benefits when due. The contribution rates for employees are set by statute at 60% of the employer rate for general employees and 72%for police and firefighters. As of June 30, 2025, it was 6.71% for general employees and 9.83%for police and firefighters.The employer contribution rate as a percent of covered payroll is set by the Retirement Board and was 11.18%for general employees and 13.26%for police and firefighters. The City's contributions were $7,699,947 for the year ended September 30, 2025. Pension Liabilities(Assets),Pension Expense(Expense Offset),and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions At September 30,2025,the City reported a liability its proportionate share of the net pension liability(asset).The net pension liability(asset)was measured as of June 30,2025, and the total pension liability(asset) used to calculate the net pension liability(asset)was determined by an actuarial valuation as of that date.The City's proportion of the net pension liability(asset) was based on the City's share of contributions in the Base Plan pension plan relative to the total contributions of all participating PERSI Base Plan employers. At June 30, 2025,the City's proportion was 1.23767368 percent compared to 1.15825274 percent at June 30,2024. FINANCIAL STATEMENTS NOTES.TO. ..FINANCIAL. . STATEMENTS. . . .................................. City of Meridian,Idaho .......... . . ...... .... ................ . . ... September 30,2025 For the year ended September 30, 2025,the City recognized pension expense (expense offset) of $6,907,782. At September 30,2025,the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: Deferred Deferred Outflows of Inflows of Resources Resources Differences between expected and actual experience $ 5,639,928 $ - Changes in assumptions or other inputs - 5,262,927 Net difference between projected and actual earnings on pension plan investments - 7,693,724 Changes in the employer's proportion and differences between the employer's contributions and the employer's proportionate 4,078,426 - City contributions subsequent to the measurement date 2,065,168 - Total $ 11,783,522 $ 12,956,651 The City reported $2,065,168 as deferred outflows of resources related to the pension resulting from Employer contributions subsequent to the measurement date and will be recognized as a reduction of the net pension liability in the year ending September 30,2026. The average of the expected remaining service lives of all employees that are provided with pensions through the System(active and inactive employees)determined at July 1,2024,the beginning of the measurement period ended June 30,2025, is 4.4 years. Other amounts reported as deferred outflows of resources and deferred inflows of resources related to pensions will be recognized in pension expense (expense offset) as follows: Years Ended September 30, 2026 $ 6,522,227 2027 (3,822,475) 2028 (3,839,407) 2029 (2,098,692) Actuarial Assumptions Valuations are based on actuarial assumptions,the benefit formulas, and employee groups. Level percentages of payroll normal costs are determined using the Entry Age Normal Cost Method. Under the Entry Age Normal Cost Method,the actuarial present value of the projected benefits of each individual included in the actuarial valuation is allocated as a level percentage of each year's earnings of the individual between entry age and assumed exit age.The Base Plan amortizes any unfunded actuarial accrued liability based on a level percentage of payroll.The maximum amortization period for the Base Plan permitted under Section 59-1322, Idaho Code, is 25 years. The following are the actuarial assumptions and the entry age normal cost method,applied to all periods included in the measurement: Inflation 2.40 percent Salary increases,including inflation 3.15 percent Investment rate of return 6.55 percent Cost-of-living(COLA)adjustments 1.00 percent Several different sets of mortality rates are used in the valuation for contributing members, members retired for service and beneficiaries.These rates were adopted for the valuation dated July 1,2025. FINANCIAL STATEMENTS City of Meridian,Idaho NOTES TO FINANCIAL STATEMENTS ............................ . . .............................. September 30,2025 Contributing Members,Service Retirement Members,and Beneficiaries General Employees and All Beneficiaries-Males Pub-2010 General Tables,increased 11 General Employees and All Beneficiaries-Females Pub-2010 General Tables,increased 21 Fire&Police-Males Pub-2010 Safety Tables,increased 21%. Fire&Police-Females Pub-2010 Safety Tables,increased 26%. 5%of Fire and Police active member deaths are assumed to be duty related.The assumption was adopted July 1,2021. Disabled Members-Males Pub-2010 Disabled Tables,increased 38%. Disabled Members-Females Pub-2010 Disabled Tables,increased 36%. The long-term expected rate of return on pension plan investments was determined using the building block approach and a forward-looking model 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 weighing the expected future real rates of return by the target asset allocation percentage and by adding expected inflation. Even though history provides a valuable perspective for setting the investment return assumption, the System relies primarily on an approach which builds upon the latest capital market assumptions.The assumptions and the System's formal policy for asset allocation are shown below.The formal asset allocation policy is somewhat more conservative than the current allocation of PERSI's assets.The best-estimate range for 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. Long-Term Target Expected Real Asset Class Allocation Rate of Return Cash 0.00% 0.00% Large Cap 22.00% 4.75% Small/Mid Cap 10.00% 4.95% International Equity 11.00% 4.75% Emerging Markets Equity 11.00% 4.95% Domestic Fixed 20.00% 2.25 TIPS 10.00% 2.05 Real Estate 8.00% 3.75% Private Equity 8.00% 6.00% Discount Rate The discount rate used to measure the total pension liability(asset)was 6.55%.The projection of cash flows used to determine the discount rate assumed that contributions from plan members will be made at the current contribution rate. Based on these assumptions,the pension plans'net position was projected to be available to make all projected future benefit payments of current plan members.Therefore,the long-term expected rate of return on pension plan investments was applied to all periods of projected benefit payments to determine the total pension liability(asset). The long-term expected rate of return was determined net of pension plan investment expense but without reduction for pension plan administrative expense. Sensitivity of The Employer's Proportionate Share of The Net Pension Liability(Asset)To Changes In The Discount Rate. The following presents the Employer's proportionate share of the net pension liability (asset) calculated using the discount rate of 6.55%,as well as what the Employer's proportionate share of the net pension liability(asset)would FINANCIAL STATEMENTS NOTES.TO. ..FINANCIAL. . STATEMENTS. . . .................................. City of Meridian,Idaho .......... . . ...... .... ................ . . ... September 30,2025 be if it were calculated using a discount rate that is 1-percentage-point lower(5.55%) or 1-percentage-point higher (7.55%)than the current rate: 1%Decrease Current Discount 1%Increase (5.55%) Rate(6.55%) (7.55%) Employer's proportionate share of the net pension liability(asset) $ 72,009,233 $ 29,928,960 $ (4,448,747) Pension Plan Fiduciary Net Position Detailed information about the pension plan's fiduciary net position is available in the separately issued PERSI financial report. PERSI issues a publicly available financial report that includes financial statements and the required supplementary information for PERSI.That report may be obtained on the PERSI website at www.persi.idaho.gov. Payables to The Pension Plan At September 30,2025,the City reported payables to the defined benefit pension plan of$622,944 for legally required employer contributions and $426,238 for legally required employee contributions which had been withheld from employee wages but not yet remitted to PERSI. Note 11 - Other Commitments The City had the following commitments at September 30,2025: Commitments Amount Buildings&Structures $ 1,613,062 Parks/Pathways Construction&Improvements 548,070 Wastewater Treatment Plant Improvements 24,350,921 Water/Sewer Line Improvements 19,317,465 Well Improvements 5,910,278 Total Commitments $ 51,739,796 Note 12 - Contingent Liabilities The City has been named as a defendant in various legal actions,the results of which are not presently determinable, except as described below. However,in the opinion of the City Attorney,the amount of losses that might be sustained, if any,would not materially affect the City's financial position. Under the terms of federal and state grants, periodic audits are required and certain costs may be questioned as not being appropriate expenditures under the terms of the grants.Any disallowed claims,including amounts already collected,could become a liability of the City. City management believes disallowances, if any,will not be material. In 2006, the City entered into an agreement with a developer to jointly provide water and sewer services for a subdivision under development(Bittercreek Meadows Subdivision Homeowners Association),outside the City limits. The developer put in a well and turned it over to the City so that homeowners could connect to the City water system. Since the development did not grow beyond 24 lots the City was not able to provide sewer and water services. In 2011,the agreement was nullified and the City paid damages to the developer,reimbursed the existing homeowners for their cost to connect to City water,deeded back the well,the well lot,a lift station lot,and land easements to the homeowners. In 2014,the City of Meridian entered into a Settlement and Mutual Release Agreement with Bittercreek Meadows Subdivision Homeowners Association in which the City agreed to connect 24 lots to the City of Kuna's wastewater FINANCIAL STATEMENTS City of Meridian,Idaho NOTES TO FINANCIAL STATEMENTS ............................ . . .............................. September 30,2025 treatment plant.The cost to do this is not known since it is dependent on development of adjoining vacant land but an estimated cost of$240,000 was recorded and is reflected in the Statement of Net Position for our Proprietary Fund. Note 13 - Related Party The City partners with Meridian Development Corporation (MDC) for various downtown improvements. During the year ended September 30, 2025, MDC agreed to contribute$15,814 for costs related to joint projects. Note 14 - Component Unit The Meridian Development Corporation (MDC) is created by and exists under the Idaho Urban Renewal Law of 1965,as amended,and is a separate legal entity. In July 2016,the City approved the establishment of MDC's second district,known as the Ten Mile District.A third district was established in June 2020,known as Union Block District. In December 2021,the City approved the establishment of a fourth district known as the Northern Gateway District and in December 2021 a fifth district was established known as the Linder District. MDC - Cash and Cash Equivalents As of September 30,2025,the account balance of the checking account was$11,756,704.$11,506,704 was uninsured and uncollateralized as of September 30,2025.Cash is held in the custody of Washington Trust Bank in MDC's name. MDC - Capital Assets Changes to capital assets are as follows: Balance at Balance at October 1, September 30, 2024 Additions Deletions Transfers 2025 Governmental Activities Capital assets,not depreciated Land $ 672,384 $ $ $ $ 672,384 Total capital assets,not depreciated 672,384 672,384 Capital assets,depreciated Intangibles 140,547 140,547 Total capital assets,depreciated 140,547 140,547 Less accumulated depreciation for Intangibles (140,547) (140,547) Total accumulated depreciation (140,547) (140,547) Governmental activities capital assets, net $ 672,384 $ $ $ $ 672,384 MDC - Commitments and Contingencies On February 8, 2017, amended on March 13, 2018, and amended on December 15, 2021, MDC entered into an Owner Participation Agreement with Ten Mile Crossing, Inc., Brighton Corporation, SCS Brighton LLC, Brighton Investments LLC, SCS Investments LLC, and SBG Ten Mile Office No. 1, LLC (the Ten Mile Developers) to carry out the approved urban renewal plan.This agreement contemplates that the Ten Mile Developers will develop the property by constructing private improvements. Eligible public improvements are to be constructed in phases and reimbursed from future tax increment revenues. As of September 30,2025,the Ten Mile Developers have incurred life-to-date eligible expenses and requested reimbursements totaling $11,329,231. Of this amount,$2,508,166 was paid by MDC in fiscal year 2025 and $6,254,511 was paid by MDC in prior fiscal years. The remaining amount of $2,566,554 is to be paid,contingent upon the future receipt of tax increment. FINANCIAL STATEMENTS NOTES.TO. ..FINANCIAL. . STATEMENTS. . . .................................. City of Meridian,Idaho .......... . . ...... .... ................ . . ... September 30,2025 On January 26, 2022, MDC entered into a Development Agreement with East Broadway Investment Company, LLC (the Union Developers)to carry out the approved urban renewal plan.This agreement contemplates that the Union Developers will develop the property by constructing private improvements. Eligible public improvements are to be constructed in phases and reimbursed from future tax increment revenues. During the fiscal year ended September 30,2025,the Development Agreement was terminated without any amounts paid to Union Developers. On January 8,2020,amended on August 1,2020,MDC entered into a Development Agreement with RWP/Meridian, LLC and MKA, LLC (the Bower Street Developers) to carry out the approved urban renewal plan. This agreement contemplates that the Bower Street Developers will develop the property by constructing private improvements. Eligible public improvements are to be constructed in phases and reimbursed from future tax increment revenues. As of September 30, 2025,the Bower Street Developers have incurred life-to-date eligible expenses and requested reimbursements totaling $224,000. Of this amount, $22,334 was paid by MDC in fiscal year 2025. The remaining amount of$150,850 is to be paid,contingent upon the future receipt of tax increment. Note 15 - Subsequent Events Subsequent events were evaluated through January 16, 2026. Management concluded that no events occurred subsequent to fiscal year-end that would require adjustment to,or disclosure in,these financial statements. • " FINANCIAL STATEMENTS WE, -HO N? This page Intentionally left blank 0 CO LO -0 N O N ca O '6 M L L c� C H E 0 N T CD Q +J d U (n ■ Required Supplementary Information City of Meridian,Idaho REQUIRED SUPPLEMENTARY INFORMATION ---------------------------- - - - - - - ---------------------------------- September 30,2025 Schedule of Employer's Share of Net Pension Liability (Asset) and Employer Contributions Year Ended September 30, 2025 Employer's proportional Employer's share of the net Plan fiduciary Employer's proportionate pension liability net position as portion of net share of the net (asset)as a a percentage of pension liability pension liability Employer's percentage of its the total pension (asset) (asset) covered payroll covered payroll liability(asset) 2025 1.23767368% $ 29,928,960 $ 58,609,469 51.07% 90.89% 2024 1.15825274% 43,326,122 52,967,701 81.80% 85.54% 2023 1.07279264% 42,811,620 45,935,142 93.20% 83.83% 2022 0.99154416% 39,054,528 39,201,449 99.63% 83.09% 2021 (0.99528992%) (786,060) 37,294,313 (2.11%) (100.36%) 2020 0.95173640% 22,100,578 34,691,943 63.71% 88.22% 2019 0.91855720% 10,485,074 31,370,306 3.42% 93.79% 2018 0.86932910% 12,822,757 28,067,928 45.68% 91.69% 2017 0.83853670% 13,180,357 26,158,967 50.39% 90.68% 2016 0.83279220% 16,881,978 24,506,473 68.89% 87.26% Data reported is measured at the measurement date which is as of June 30 of each year. See Notes to Required Supplementary Information FINANCIAL STATEMENTS ' REQUIRED SUPPLEMENTARY----------------- --- ------ --- INFORMATION City of Meridian,Idaho --------------- - - - - - September 30,2025 Schedule of Employer's Share of Net Pension Liability (Asset) and Employer Contributions Year Ended September 30, 2025 Contributions in Statutorily relation to the Contribution Contributions as required statutorily required (deficiency) Employer's a percentage of contribution contribution excess covered payroll covered payroll 2025 $ 7,636,814 $ 7,699,947 $ (63,133) $ 59,266,062 12.99% 2024 6,419,685 6,663,879 (244,194) 54,772,914 12.17% 2023 5,571,933 5,664,471 (92,538) 47,643,586 11.89% 2022 4,680,653 4,851,076 (170,423) 41,398,069 11.72% 2021 3,929,693 4,487,967 (558,274) 38,316,891 11.71% 2020 3,734,052 4,134,783 (400,731) 34,957,831 11.83% 2019 3,514,771 3,669,576 (154,805) 32,747,790 11.21% 2018 3,375,966 3,228,459 147,507 28,750,964 11.23% 2017 2,827,648 3,001,437 (173,789) 26,645,195 11.26% 2016 2,475,578 2,796,909 (321,331) 24,966,360 11.20% Data reported is measured as of September 30 of each year. See Notes to Required Supplementary Information • " FINANCIAL STATEMENTS City of Meridian,Idaho REQUIRED SUPPLEMENTARY INFORMATION ---------------------------- - - - - - - ---------------------------------- September 30,2025 Schedule of Revenues, Expenditures, and Changes in Fund Balance - Budget and Actual - General Fund Year Ended September 30, 2025 Budgeted Amounts Actual Variance With Original Final Amounts Final Budget Revenues Taxes $ 50,726,863 $ 50,726,863 $ 51,409,806 $ 682,943 Intergovernmental 21,041,610 27,492,740 20,166,014 (7,326,726) Licenses and permits 8,317,842 8,317,842 6,536,935 (1,780,907) Charges for services 4,852,220 4,858,120 5,752,746 894,626 Franchise fees 2,724,776 2,724,776 2,128,675 (596,101) Fines and forfeitures 500,984 500,984 704,712 203,728 Impact revenues 12,005,888 12,005,888 7,519,846 (4,486,042) Interest 2,201,874 2,201,874 3,588,664 1,386,790 Donations 4,000 261,731 1,908,273 1,646,542 Miscellaneous - - 36,562 36,562 Total revenues 102,376,057 109,090,818 99,752,233 (9,338,585) Expenditures General government Personnel costs 8,619,464 8,673,566 8,323,263 350,303 Operating expense 9,633,450 14,442,603 4,898,889 9,543,714 Public safety Police Personnel costs 30,161,193 30,376,554 28,973,532 1,403,022 Operating expense 6,621,786 5,614,349 5,284,449 329,900 Fire Personnel costs 23,805,219 24,125,640 23,502,877 622,763 Operating expense 4,911,244 4,728,386 4,099,815 628,571 Parks and recreation Personnel costs 6,239,583 6,280,595 6,068,982 211,613 Operating expense 5,181,287 5,794,831 5,356,547 438,284 Community development Personnel costs 5,169,085 5,197,615 4,538,666 658,949 Operating expense 2,420,246 2,478,231 1,528,484 949,747 Capital outlay General government 2,203,439 1,882,584 1,601,358 281,226 Public safety Police 593,453 1,446,625 1,165,776 280,849 Fire 1,955,394 3,981,154 93,550 3,887,604 Parks and recreation 7,070,994 11,051,259 6,976,177 4,075,082 Debt service General government - - 639,139 (639,139) Total expenditures 114,585,837 126,073,992 103,051,504 23,022,488 Excess(deficiency)of revenues over(under)expenditures (12,209,780) (16,983,174) (3,299,271) 13,683,903 Other Financing Sources(Uses) Operating transfer in 4,443,944 4,443,944 4,283,120 (160,824) Unrealized gain(loss)on investments - - 87,903 87,903 IT-subscriptions asset agreement - 1,087,638 1,087,638 Proceeds from sale of capital assets - 55,600 66,483 10,883 Total other financing sources(uses) 4,443,944 4,499,544 5,525,144 1,025,600 Net change in fund balances (7,765,836) (12,483,630) 2,225,873 Fund balance,beginning of year 19,220,908 24,453,718 91,614,558 Fund balance,end of year $ 11,455,072 $ 11,970,088 $ 93,840,431 See Notes to Financial Statements FINANCIAL STATEMENTS • NOTESTO REQUIRED SUPPLEMENTAL INFORMATION City of Meridian,Idaho September 30,2025 Notes to Required Supplemental Information Note 16 - Budgets and Budgetary Accounting The City follows these procedures in establishing the budgetary data reflected in the financial statements: Prior to September 1, the CFO, Department Directors, Mayor, and City Council prepare a proposed operating budget for the fiscal year commencing on October 1. The operating budget includes proposed expenditures and the means of financing them. Public hearings are conducted at City Hall to obtain taxpayer comments. Prior to October 1,the budget is legally enacted through passage of an ordinance. Budgets are not adopted on a basis consistent with generally accepted accounting principles (GAAP) for the general fund. Budgets for enterprise funds are not legally required but are adopted on a non-GAAP basis.All annual appropriations lapse at fiscal year-end. Revisions that alter the total expenditure appropriation of any fund must be approved by the City Council.State law does not allow fund expenditures to exceed fund appropriations.The budget presented in the report has been amended. Formal budgetary integration is employed as a management control device during the year for all funds. Note 17 - Budget Overages The Budget to Actual-General Fund budget identified an overage in the General Government debt services expenses by $639,139. This variance was primarily due to the GASB 87 Lease and GASB 96 SBITA principal and interest expenses. See Notes to Financial Statements 0 " FINANCIAL STATEMENTS WE, -HO N? This page Intentionally left blank 0 Ca Lr) -0 N O ,:� N ca O '6 M L L c� C E 0 N �L T Q = (1) U (n ■ Other City of Meridian,Idaho OTHER INFORMATION ............................ ................................... September 30,2025 Schedule of Revenues, Expenditures and Changes in Fund Balance — Budget and Actual — Capital Projects Fund Year Ended September 30, 2025 Budgeted Amounts Actual Variance With Original Final Amounts Final Budget Revenues Interest $ $ $ 493,234 $ 493,234 Total revenues 493,234 493,234 Expenditures Public safety Fire Operating expense - - 7,156 (7,156) Capital outlay Public safety Fire 907,612 793,517 - 793,517 Total expenditures 907,612 793,517 7,156 786,361 Excess(deficiency)of revenues over(under)expenditures (907,612) (793,517) 486,078 1,279,595 Other Financing Sources(Uses) Unrealized gain(loss)on investments (21,451) (21,451) Total other financing sources(uses) (21,451) (21,451) Net change in fund balances (907,612) (793,517) 464,627 1,258,144 Fund balance,beginning of year (15,466,901) (13,557,027) 11,043,749 Fund balance,end of year $ (16,374,513) $ (14,350,544) $ 11,508,376 FINANCIAL STATEMENTS • OTHER.INFORMATION. . . ...................................................... City of Meridian,Idaho .......... .......... .... .... September 30,2025 Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual - Enterprise Fund Year Ended September 30, 2025 Budgeted Amounts Variance With Original Final Actual Amounts Final Budget Revenues Water sales $ 11,340,089 $ 11,340,089 $ 11,976,140 $ 636,051 Sewer sales 20,425,417 20,425,417 22,013,522 1,588,105 Other service revenues 384,735 384,735 945,806 561,071 Sale of meters 501,279 501,279 529,123 27,844 Trash billing service 1,414,850 1,414,850 1,543,108 128,258 Engineering fees 180,066 180,066 252,200 72,134 Assessment revenue and cash donations 14,382,397 20,900,906 14,348,690 (6,552,216) Interest 3,664,530 3,664,530 4,408,491 743,961 Miscellaneous - - 8,358 8,358 Total revenues 52,293,363 58,811,872 56,025,438 (2,786,434) Expenditures Administration personnel costs 6,426,888 6,457,205 6,206,252 250,953 Administration operating expenses 1,969,026 1,774,877 1,684,550 90,327 Water personnel costs 3,328,372 3,355,642 3,167,439 188,203 Water operating expenses 4,274,686 4,175,500 4,117,895 57,605 Wastewater personnel costs 5,288,562 5,327,591 5,080,000 247,591 Wastewater operating expenses 6,299,155 5,823,428 4,740,056 1,083,372 Capital outlay 112,431,129 110,227,087 54,714,834 55,512,253 Total expenditures 140,017,818 137,141,330 79,711,026 57,430,304 Excess(deficiency)of revenues over(under) expenditures (87,724,455) (78,329,458) (23,685,588) 54,643,870 Other financing sources(uses) Operating transfer out (4,443,945) (4,443,945) (4,283,120) 160,825 Proceeds from IT-subscription asset agreement - - 147,238 147,238 Proceeds from sale of capital assets (507) (507) 22,425 22,932 Total other financing sources(uses) (4,444,452) (4,444,452) (4,113,457) 330,995 Net change in fund balances (92,168,907) (82,773,910) (27,799,045) Fund balance,beginning of year (41,648,266) (25,924,283) 112,772,946 Fund balance,end of year $ (133,817,173) $ (108,698,193) $ 84,973,901 Reconciling items for GAAP Basis Financials Deferred outflows $ 1,958,806 Deferred inflows (2,153,818) Pension liability amount (4,975,171) Accrued vacation (2,073,053) Retainage payable (2,226,242) Net invested in capital assets 469,572,579 Settlement payable (240,000) Net Position,GAAP Basis,End of Year $544,837,002 • " FINANCIAL STATEMENTS WE, -HO N? This page Intentionally left blank 0 Ca LO -0 N O N Ca O '6 M L L c� C H E 0 N T Q +J � U (n ■ Single Audit Eide 4Baflly Independent Auditor's 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 Mayor and Members of the City Council City of Meridian, Idaho Meridian, Idaho We have audited, 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 (Government Auditing Standards),the financial statements of the governmental activities,the business-type activities,the discretely presented component unit, and each major fund of City of Meridian, Idaho (the City) as of and for the year ended September 30, 2025, and the related notes to the financial statements, which collectively comprise the City's basic financial statements and have issued our report thereon dated April 13, 2026. 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) as a basis for designing 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 City'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. eidebailly.com 877 W.Main St.,Ste.800 • Boise,ID 83702-5858 • T 208.344.7150 • F 208.344.7435 • EOE ...................................................................................... . City of Meridian,Idaho September 30,2025 Report on Compliance and Other Matters As part of obtaining reasonable assurance about whether the City's financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the financial statements. 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. 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 results of that testing, and not to provide an opinion on the effectiveness of the City'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. G 7, Boise, Idaho April 13, 2026 FINANCIAL STATEMENTS Eide 4Baflly Independent Auditor's Report on Compliance for Each Major Federal Program; Report on Internal Control Over Compliance Required by the Uniform Guidance To the Mayor and Members of the City Council City of Meridian, Idaho Meridian, Idaho Report on Compliance for the Major Federal Program Opinion on the Major Federal Program We have audited City of Meridian, Idaho's (the City) compliance with the types of compliance requirements identified as subject to audit in the OMB Compliance Supplement that could have a direct and material effect on the City's major federal programs for the year ended September 30, 2025.The City's major federal programs are identified in the summary of auditor's results section of the accompanying schedule of findings and questioned costs. In our opinion, the City complied, in all material respects,with the compliance requirements referred to above that could have a direct and material effect on its major federal programs for the year ended September 30, 2025. Basis for Opinion on the Major Federal Program We conducted our audit of compliance in accordance with auditing standards generally accepted in the United States of America (GAAS);the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States (Government Auditing Standards); and the audit requirements of Title 2 U.S. Code of Federal Regulations Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Our responsibilities under those standards and the Uniform Guidance are further described in the Auditor's Responsibilities for the Audit of Compliance section of our report. We are required to be independent of the City and to meet our other ethical responsibilities, in accordance with 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 opinion on compliance for each major federal program. Our audit does not provide a legal determination of the City's compliance with the compliance requirements referred to above. eidebailly.com 877 W.Main St.,Ste.800 • Boise,ID 83702-5858 • T 208.344.7150 • F 208.344.7435 • EOE ...................................................................................... . City of Meridian,Idaho September 30,2025 Responsibilities of Management for Compliance Management is responsible for compliance with the requirements referred to above and for the design, implementation, and maintenance of effective internal control over compliance with the requirements of laws, statutes, regulations, rules and provisions of contracts or grant agreements applicable to the City's federal programs. Auditor's Responsibilities for the Audit of Compliance Our objectives are to obtain reasonable assurance about whether material noncompliance with the compliance requirements referred to above occurred, whether due to fraud or error, and express an opinion on the City's compliance based on our audit. 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 GAAS, Government Auditing Standards, and the Uniform Guidance will always detect material noncompliance when it exists.The risk of not detecting material noncompliance resulting from fraud is higher than for that resulting from error, as fraud may involve collusion,forgery, intentional omissions, misrepresentations, or the override of internal control. Noncompliance with the compliance requirements referred to above is considered material, if there is a substantial likelihood that, individually or in the aggregate, it would influence the judgment made by a reasonable user of the report on compliance about the City's compliance with the requirements of each major federal program as a whole. In performing an audit in accordance with GAAS, Government Auditing Standards, and the Uniform Guidance,we: • Exercise professional judgment and maintain professional skepticism throughout the audit. • Identify and assess the risks of material noncompliance, 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 City's compliance with the compliance requirements referred to above and performing such other procedures as we considered necessary in the circumstances. • Obtain an understanding of the City's internal control over compliance relevant to the audit in order to design audit procedures that are appropriate in the circumstances and to test and report on internal control over compliance in accordance with the Uniform Guidance, but not for the purpose of expressing an opinion on the effectiveness of the City's internal control over compliance. Accordingly, no such opinion is expressed. We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and any significant deficiencies and material weaknesses in internal control over compliance that we identified during the audit. FINANCIAL STATEMENTS City of Meridian,Idaho ............................ ..................................................................................... September 30,2025 Report on Internal Control over Compliance A deficiency in internal control over compliance exists when the design or operation of a control over compliance does not allow management or employees, in the normal course of performing their assigned functions,to prevent, or detect and correct, noncompliance with a type of compliance requirement of a federal program on a timely basis. A material weakness in internal control over compliance is a deficiency, or a combination of deficiencies, in internal control over compliance, such that there is a reasonable possibility that material noncompliance with a type of compliance requirement of a federal program will not be prevented, or detected and corrected, on a timely basis. A significant deficiency in internal control over compliance is a deficiency, or a combination of deficiencies, in internal control over compliance with a type of compliance requirement of a federal program that is less severe than a material weakness in internal control over compliance,yet important enough to merit attention by those charged with governance. Our consideration of internal control over compliance was for the limited purpose described in the Auditor's Responsibilities for the Audit of Compliance section above and was not designed to identify all deficiencies in internal control over compliance that might be material weaknesses or significant deficiencies in internal control over compliance. Given these limitations, during our audit we did not identify any deficiencies in internal control over compliance that we consider to be material weaknesses, as defined above. However, material weaknesses or significant deficiencies in internal control over compliance may exist that were not identified. Our audit was not designed for the purpose of expressing an opinion on the effectiveness of internal control over compliance. Accordingly, no such opinion is expressed. The purpose of this report on internal control over compliance is solely to describe the scope of our testing of internal control over compliance and the results of that testing based on the requirements of the Uniform Guidance.Accordingly,this report is not suitable for any other purpose. Boise, Idaho April 13, 2026 FINANCIAL STATEMENTS SI-NGLE AUDIT-I.T. --------------------------------------------------- SECTION City of Meridian,Idaho -- --------------- - ------------- September 30,2025 Schedule of Expenditures of Federal Awards Year Ended September 30, 2025 Amounts Federal Financial Pass-Through Passed- Federal Grantor/Pass-Through Assistance Entity Identifying Through to Grantor/Program or Cluster Title Listing Number Number Expenditures Subrecipients U.S. Department of Energy Energy Strategic Plan(EECBG) 81.128 $ 94,954 $ Total U.S. Department of the Energy 94,954 U.S. Department of Homeland Security Staffing for Adequate Fire and Emergency Response(SAFER) 97.083 1,545,116 Assistance to Firefighters Grant 97.044 72,685 Passed-through the Idaho Office of Emergency Management 4534 HMGP-City of Meridian-Nine Mile Creek 97.039 DR-4534-00007-ID 108,255 Total U.S. Department of Homeland Security 1,726,056 U.S. Department of Housing&Urban Development Community Development Block Grant Entitlement Grants Custer Community Development Block Grants 14.218 497,409 78,657 Total U.S. Department of Housing&Urban Development 497,409 78,657 U.S. Department of Health&Human Services Passed-through the Idaho Office of Drug Policy Strategic Prevention Framework 93.243 1 H79SP080981-01 4,263 - Total U.S. Department of Health&Human Services 4,263 U.S. Department of Interior Passed-through the Idaho State Historical Society National Park Service,Historic Preservation Fund Grants-In-Aid 15.904 P24AF01296 12,000 Total U.S. Department of Interior 12,000 U.S. Department of Treasury COVID-19-Coronavirus State and Local Fiscal Recovery Funds(CSLFRF) 21.027 3,607,622 Total U.S. Department of the Treasury 3,607,622 Total Federal Financial Assistance $ 5,942,304 $ 78,657 See Notes to Schedule of Expenditures of Federal Awards FINANCIAL STATEMENTS City of Meridian,Idaho SINGLE AUDIT SECTION ............................ ................................... September 30,2025 Notes to Schedule of Expenditures of Federal Awards Note 18 - Basis of Presentation The accompanying schedule of expenditures of federal awards(the schedule) includes the federal award activity of the City of Meridian, Idaho (the City) under programs of the federal government for the year ended September 30, 2025.The information is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations Part 200,Uniform Administrative Requirements,Cost Principles,and Audit Requirements for Federal Awards(Uniform Guidance). Because the schedule presents only a selected portion of the operations of the City,it is not intended to and does not present the financial position, changes in net position or fund balance, or cash flows, as applicable, of the City. Note 19 - Summary of Significant Accounting Policies Expenditures are reported in the schedule are reported on the modified accrual basis of accounting, except for subrecipient expenditures,which are recorded on the cash basis.When applicable,such expenditures are recognized following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or are limited as to reimbursement. Note 20 - Indirect Cost Rate The Organization does not draw for indirect administrative expenses and has not elected to use the 10%de minimus cost rate. FINANCIAL STATEMENTS ' SI.NGLE AUDIT. . .................................................... SECTION City of Meridian,Idaho .. ............... . ............. September 30,2025 Schedule of Findings and Questioned Costs Year Ended September 30, 2025 Section I—Summary of Auditor's Results FINANCIAL STATEMENTS Type of auditor's report issued Unmodified Internal control over financial reporting: Material weaknesses identified No Significant deficiencies identified not considered to be material weaknesses None Reported Noncompliance material to financial statements noted? No FEDERAL AWARDS Internal control over major program: Material weaknesses identified No Significant deficiencies identified not considered to be material weaknesses None Reported Type of auditor's report issued on compliance for major programs: Unmodified Any audit findings disclosed that are required to be reported in accordance with Uniform Guidance 2 CFR 200.516(a): No Identification of major programs: Name of Federal Program Federal Financial Assistance Listing COVID-19-Coronavirus State and Local Fiscal Recovery Funds 21.027 Dollar threshold used to distinguish between type A and type B programs: $1,000,000 Auditee qualified as low-risk auditee? No Section II —Financial Statement Findings None reported. Section III-Federal Award Findings and Questioned Costs None reported. • " FINANCIAL STATEMENTS IDIAN�-- IDAHO / ■ Eide 4Baflly April 13, 2026 To the Mayor and Members of the City Council City of Meridian, Idaho Meridian, Idaho We have audited the financial statements of City of Meridian, Idaho (the City) as of and for the year ended September 30, 2025, and have issued our report thereon dated April 13, 2026. Professional standards require that we advise you of the following matters relating to our audit. Our Responsibility in Relation to the Financial Statement Audit under Generally Accepted Auditing Standards and Government Auditing Standards and our Compliance Audit under the Uniform Guidance As communicated in our letter dated September 9, 2025, our responsibility, as described by professional standards, is to form and express an opinion about whether the financial statements that have been prepared by management with your oversight are presented fairly, in all material respects, in accordance with accounting principles generally accepted in the United States of America and to express an opinion on whether the City complied with the types of compliance requirements described in the OMB Compliance Supplement that could have a direct and material effect on each of the City's major federal programs. Our audit of the financial statements and major program compliance does not relieve you or management of its respective responsibilities. Our responsibility, as prescribed by professional standards, is to plan and perform our audit to obtain reasonable, rather than absolute, assurance about whether the financial statements are free of material misstatement.An audit of financial statements includes consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity's internal control over financial reporting. Accordingly, as part of our audit,we considered the internal control of the City solely for the purpose of determining our audit procedures and not to provide any assurance concerning such internal control. Our responsibility, as prescribed by professional standards as it relates to the audit of the City's major federal program compliance, is to express an opinion on the compliance for each of the City's major federal programs based on our audit of the types of compliance requirements referred to above. An audit of major program compliance includes consideration of internal control over compliance with the types of compliance requirements referred to above as a basis for designing audit procedures that are appropriate in the circumstances and to test and report on internal control over compliance in accordance with the Uniform eidebailly.com 877 W.Main St.,Ste.800 • Boise,ID 83702-5858 • T 208.344.7150 • F 208.344.7435 • EOE Guidance, but not for the purpose of expressing an opinion on the effectiveness of internal control over compliance.Accordingly, as a part of our major program compliance audit, we considered internal control over compliance for these purposes and not to provide any assurance on the effectiveness of the City's internal control over compliance. We are also responsible for communicating significant matters related to the audit that are, in our professional judgment, relevant to your responsibilities in overseeing the financial reporting process. However,we are not required to design procedures for the purpose of identifying other matters to communicate to you. We have provided our comments regarding internal controls during our audit in our Independent Auditor's 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 dated April 13, 2026. We have also provided our comments regarding compliance with the types of compliance requirements referred to above and internal controls over compliance during our audit in our Independent Auditor's Report on Compliance with the Major Federal Program and Report on Internal Control Over Compliance Required by the Uniform Guidance dated April 13, 2026. Planned Scope and Timing of the Audit We conducted our audit consistent with the planned scope and timing we previously communicated to you. Compliance with All Ethics Requirements Regarding Independence The engagement team, others in our firm, as appropriate, our firm, and other firms utilized in the engagement, if applicable, have complied with all relevant ethical requirements regarding independence. Significant Risks Identified As stated in our auditor's report, professional standards require us to design our audit to provide reasonable assurance that the financial statements are free of material misstatement whether caused by fraud or error. In designing our audit procedures, professional standards require us to evaluate the financial statements and assess the risk that a material misstatement could occur.Areas that are potentially more susceptible to misstatements, and thereby require special audit considerations, are designated as"significant risks." In addition to the significant risks communicated to you previously,we have identified the following additional significant risks: • There is a risk that GASB Statement No. 101, Compensated Absences, may not have been implemented correctly due to the complexity of the standard. Qualitative Aspects of the Entity's Significant Accounting Practices Significant Accounting Policies Management has the responsibility to select and use appropriate accounting policies. A summary of the significant accounting policies adopted by the City is included in Note 1 to the financial statements As described in Note 1,the City changed accounting policies related to accounting for compensated absences to adopt the provisions of GASB Statement No. 101, Compensated Absences. Accordingly,the presentation and disclosure requirements have been applied to the financial statements for the year ended September 30, 2025. No matters have come to our attention that would require us, under professional standards,to inform you about (1)the methods used to account for significant unusual transactions and (2)the effect of significant accounting policies in controversial or emerging areas for which there is a lack of authoritative guidance or consensus. Accounting Estimates and Related Disclosures Accounting estimates and related disclosures are an integral part of the financial statements prepared by management and are based on management's current judgments.Those judgments are normally based on knowledge and experience about past and current events and assumptions about future events. Certain accounting estimates are particularly sensitive because of their significance to the financial statements and because of the possibility that future events affecting them may differ markedly from management's current judgments. The most sensitive accounting estimates affecting the financial statements are: Management's estimate of the net pension liability and deferred inflows/outflows of resources related to the net pension liability are based on actuarial estimates provided by Milliman to PERSI and the Schedule of Employer Allocations and Collective Pension Amounts provided by PERSI.This schedule was audited by independent auditors. We evaluated the key factors and assumptions used to develop the net pension liability and determined that it is reasonable in relation to the basic financial statements taken as a whole. Financial Statement Disclosures Certain financial statement disclosures involve significant judgment and are particularly sensitive because of their significance to financial statement users.The most sensitive disclosures affecting the City's financial statements relate to: The disclosure of net pension liability, in Note 10, as this footnote supports the assumptions made and inputs used to determine the employer pension assumption. Significant Difficulties Encountered during the Audit We encountered no significant difficulties in dealing with management relating to the performance of the audit. Uncorrected and Corrected Misstatements For purposes of this communication, professional standards require us to accumulate all known and likely misstatements identified during the audit, other than those that we believe are trivial, and communicate them to the appropriate level of management. Further, professional standards require us to also communicate the effect of uncorrected misstatements related to prior periods on the relevant classes of transactions, account balances or disclosures, and the financial statements as a whole. Uncorrected misstatements or matters underlying those uncorrected misstatements could potentially cause future-period financial statements to be materially misstated, even though the uncorrected misstatements are immaterial to the financial statements currently under audit.The following misstatements that we identified as a result of our audit procedures were brought to the attention of and passed on by management. a. General Fund: o Contributed capital and capital outlay are overstated by$386,000 due to the over recognition of contributed assets. b. Enterprise fund: o Utility accounts receivable and revenue are understated by approximately$394,000 due to utility services earned in 2025 being recognized in 2026 when billed.. o Accounts payable and expenditures are overstated by$493,000 due to 2026 expenses being recognized in 2025. c. Governmental Activities: o Property and contributed capital are overstated by$386,000 due to the over recognition of contributed assets. o Deferred outflows and expense in relation to the PERSI pension plan are overstated by $451,000. d. Business-Type Activities: o Accounts payable and expenditures are overstated by$493,000 due to 2026 expenses being recognized in 2025. Disagreements with Management For purposes of this letter, professional standards define a disagreement with management as a matter, whether or not resolved to our satisfaction, concerning a financial accounting, reporting, or auditing matter, which could be significant to the financial statements or the auditor's report. No such disagreements arose during the course of the audit. Circumstances that Affect the Form and Content of the Auditor's Report For purposes of this letter, professional standards require that we communicate any circumstances that affect the form and content of our auditor's report. We did not identify any circumstances that affect the form and content of the auditor's report. Representations Requested from Management We have requested certain written representations from management that are included in the management representation letter dated April 13, 2026. Management's Consultations with Other Accountants In some cases, management may decide to consult with other accountants about auditing and accounting matters. Management informed us that, and to our knowledge,there were no consultations with other accountants regarding auditing and accounting matters. Other Significant Matters, Findings, or Issues In the normal course of our professional association with the City, we generally discuss a variety of matters, including the application of accounting principles and auditing standards, significant events or transactions that occurred during the year, business conditions affecting the entity, and business plans and strategies that may affect the risks of material misstatement. None of the matters discussed resulted in a condition to our retention as the City's auditors. Other Matters The financial statements include the financial statements of Meridian Development Corporation (MDC), which we considered to be a significant component of the financial statements of the City. Consistent with the audit of the City's financial statements as a whole, our audit included obtaining an understanding of MDC and its environment, including internal control, sufficient to assess the risks of material misstatement of the financial statements of MDC and completion of further audit procedures. This report is intended solely for the information and use of the Mayor, City Council, and management of the City and is not intended to be, and should not be, used by anyone other than these specified parties. This report is intended solely for the information and use of the Mayor, City Council, and management of the City and is not intended to be, and should not be, used by anyone other than these specified parties. �" .4 ,G 7-0 Boise, Idaho E IDIAN,,z - AGENDA ITEM ITEM TOPIC: Meridian Fire Department Paramedic School Program Discussion E IDIAN,,z - AGENDA ITEM ITEM TOPIC: Memorandum of Understanding Between the City of Meridian and IAFF Local 2311 for Meridian Fire Department Paramedic School Program