CCW Packet

CITY OF DOVER, DELAWARE COUNCIL COMMITTEE OF THE WHOLE MEETING Tuesday, September 23, 2025 at 6:00 PM City Hall Council Chambers, 15 Loockerman Plaza, Dover, Delaware AGENDA Public comments are welcomed on any item and will be permitted at the appropriate time. When possible, please notify the City Clerk (302-736-7008 or email at cityclerk@dover.de.us) should you wish to be recognized. VIRTUAL MEETING NOTICE This meeting will be held in City Hall Council Chambers with electronic access via WebEx. Public participation information is as follows: Dial: 1-650-479-3208 Link: https://shorturl.at/XM8rK Event number: 2534 918 1839 Event password: DOVER (if needed) If you are new to WebEx, get the app now at https://www.webex.com/ to be ready when the meeting starts. CALL COUNCIL COMMITTEE OF THE WHOLE MEETING TO ORDER ADOPTION OF AGENDA PRESENTATIONS 1. Review of the Dover Voices Heard Town Hall Meeting (Corie L. Priest, Director of Community Engagement, Office of the Attorney General) (Committee Action Not Required) 2. Bayhealth Expansion Plan (John Van Gorp, Senior Vice President & Chief Strategy Officer, Bayhealth) (Committee Action Not Required) 1

COUNCIL COMMITTEE OF THE WHOLE MEETING - September 23, 2025 PAGE 2 LEGISLATIVE, FINANCE, AND ADMINISTRATION COMMITTEE ADOPTION OF THE AGENDA 1. Proposed Ordinance #2025-16 - Project Carry-Forward Budget Balances/Proposed Budget Amendments (Patricia Marney, Controller/Treasurer) (Staff Recommendation: Approval of the proposed budget amendments totaling $22,222,063 for Fiscal Year 2026 and adoption of Ordinance #2025-16.) 2. Annual Review of Investment Policy (Patricia Marney, Controller/Treasurer) (Staff Recommendation: Approval of submitted changes) ADJOURNMENT OF THE LEGISLATIVE, FINANCE, AND ADMINISTRATION COMMITTEE MEETING ADJOURNMENT OF THE COUNCIL COMMITTEE OF THE WHOLE THE AGENDA ITEMS AS LISTED MAY NOT BE CONSIDERED IN SEQUENCE. PURSUANT TO 29 DEL. C. §10004(e)(2), THIS AGENDA IS SUBJECT TO CHANGE TO INCLUDE THE ADDITION OR THE DELETION OF ITEMS, INCLUDING EXECUTIVE SESSIONS, WHICH ARISE AT THE TIME OF THE MEETING 2

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ACTION FORM Item 1. PROCEEDING: Council Committee of the Whole DEPARTMENT OF ORIGIN: City Manager office DATE SUBMITTED: 09/24/25 PREPARED BY: Jeffrey Dill, Budget Analyst SUBJECT: Project Carry-Forward Budget Balances & Proposed Budget Amendments REVIEWED BY: Patricia Marney, Controller/Treasurer APPROVALS: Council Committee of the Whole EXHIBITS: Exhibit A – Capital Investment Plan Amendments EXPENDITURE REQUIRED: As per the attached Exhibit & Draft Ordinance AMOUNT BUDGETED: N/A TIMETABLE: Upon Council approval RECOMMENDED ACTION: Staff recommends the approval of the proposed Carry Forward Budget Amendment totaling $22,222,063 for Fiscal Year 2026. The proposed budget amendment includes adjustments to the Capital Project budgets (see Exhibit A) and a few adjustments needed to the operating budgets. Also, note that revenue adjustments are also included for projects that have carried over and had debt financing or reserve fund appropriations The items above, along with the Capital Project carry forward balances, total $22,222,063 as follows: Fund Budget Balance Adjustment Governmental – Capital Projects Fund 6,452,700 Sanitation – Capital Projects Fund 739,000 Water – Capital Projects Fund 7,491,000 Wastewater – Capital Project Fund 2,140,600 Electric – Capital Projects Fund 5,091,400 CDBG 307,363 Total $22,222,063 8

First Reading Item 1. CITY OF DOVER ORDINANCE # 2025-16 2025-2026 BUDGET ORDINANCES 1 BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF DOVER, IN COUNCIL MET: 2 The amount hereinafter named aggregating Sixty-Four Million Seven Hundred Sixty Thousand 3 Eight Hundred dollars ($64,760,800) or so much thereof as may be necessary are hereby appropriated 4 from current revenues and other funds for the use by several departments of the Municipal 5 Government for the fiscal year beginning July 1, 2025 and ending June 30, 2026: 6 GENERAL FUND 7 CASH RECEIPT SUMMARY FOR 2025-2026 8 2025/26 2025/26 9 BUDGET REVISED 10 BEGINNING BALANCE $ 11,180,500 $ 11,180,500 11 RECEIPTS 12 FINES AND POLICE REVENUE 767,900 767,900 13 LIBRARY REVENUES 151,200 151,200 14 KENT COUNTY BOOK REIMBURSEMENT 180,000 180,000 15 BUSINESS LICENSES 1,540,000 1,540,000 16 PERMITS AND OTHER FEES 1,722,000 1,722,000 17 POLICE EXTRA DUTY 514,000 514,000 18 PROPERTY TAXES 17,200,000 17,200,000 19 RECREATION REVENUE 145,000 145,000 20 FRANCHISE FEE 500,000 500,000 21 RENT REVENUE - GARRISON FARM 100,000 100,000 22 COURT OF CHANCERY FEES 4,500,000 4,500,000 23 INVESTMENT INCOME 200,000 200,000 24 RECEIPTS SUBTOTAL 27,520,100 27,520,100 25 INTERFUND SERVICE RECEIPTS 26 INTERFUND SERVICE RECEIPTS GENERAL GOV 1,788,200 1,788,200 27 INTERFUND SERVICE RECEIPTS PUBLIC WORKS 983,100 983,100 28 INTERFUND SERVICE RECEIPTS CENT SRVCS 1,793,700 1,793,700 29 INTERFUND SERVICE RECEIPTS FIN ADMIN 3,373,700 3,373,700 30 INTERFUND SERVICE RECEIPTS SUBTOTAL 7,938,700 7,938,700 31 GRANTS: 32 POLICE EXTRA DUTY 708,000 708,000 33 POLICE GRANTS FUND 165,000 165,000 34 POLICE PENSION GRANT 850,000 850,000 35 GREEN ENERGY GRANT 98,500 98,500 36 GRANTS SUBTOTAL 1,821,500 1,821,500 37 TRANSFERS FROM: 38 TRANSFER TAX 2,400,000 2,400,000 39 LODGING TAX 500,000 500,000 40 AMBULANCE SERVICE 600,000 600,000 41 MUNICIPAL STREET AID 750,000 750,000 42 CIVIL TRAFFIC PENALTIES 50,000 50,000 43 WATER/WASTEWATER 2,000,000 2,000,000 44 ELECTRIC 10,000,000 10,000,000 45 TRANSFERS FROM SUBTOTAL 16,300,000 16,300,000 46 TOTAL REVENUES 53,580,300 53,580,300 47 TOTAL BEGINNING BALANCE & REVENUE $ 64,760,800 $ 64,760,800 9

First Reading 48 2025-2026 BUDGET ORDINANCES Item 1. 49 GENERAL FUND - EXPENDITURES AND BUDGET BALANCE FOR 2025-2026 50 2024/25 2025/26 51 DEPARTMENT EXPENSES BUDGET REVISED 52 CITY CLERK $ 492,900 $ 492,900 53 COUNCIL 276,600 276,600 54 PLANNING 1,079,800 1,079,800 55 CITY MANAGER 1,485,300 1,485,300 56 HUMAN RESOURCES 529,900 529,900 57 MAYOR 316,700 316,700 58 FIRE 1,133,800 1,133,800 59 LIFE SAFETY 1,664,100 1,664,100 60 CODE ENFORCEMENT 1,143,700 1,143,700 61 INSPECTIONS 769,100 769,100 62 POLICE 24,762,300 24,762,300 63 POLICE EXTRA DUTY 910,700 910,700 64 PUBLIC WORKS - ADMINISTRATION 743,500 743,500 65 STREETS 899,800 899,800 66 GROUNDS MAINTENANCE 2,047,300 2,047,300 67 STORMWATER 1,104,900 1,104,900 68 FACILITIES MANAGEMENT 807,900 807,900 69 PUBLIC WORKS - ENGINEERING 303,500 303,500 70 LIBRARY 2,378,800 2,378,800 71 RECREATION 1,653,300 1,653,300 72 PROCUREMENT & INVENTORY 1,012,700 1,012,700 73 FLEET MAINTENANCE 1,139,800 1,139,800 74 INFORMATION TECHNOLOGY 1,045,700 1,045,700 75 FINANCE 1,039,800 1,039,800 76 CUSTOMER SERVICE 1,515,900 1,515,900 77 DEPARTMENT SUBTOTALS 50,257,800 50,257,800 78 OTHER EXPENSES 79 DEBT SERVICE 625,200 625,200 80 CONTRIBUTION TO DDP 150,000 150,000 81 INSURANCE 1,200,000 1,200,000 82 OTHER EMPLOYMENT EXPENSES 200,000 200,000 83 BANK & CREDIT CARD FEES 57,800 57,800 84 STREET LIGHTS 830,000 830,000 85 OTHER EXPENSE SUBTOTAL 3,063,000 3,063,000 86 TRANSFERS 87 TRANSFER TO CAPITAL FUND - PROJECTS 5,511,200 5,511,200 88 APPROP. POLICE PENSION - STATE GRANT 850,000 850,000 89 TRANSFER TO FRANCHISE FEE RESERVE 10,000 10,000 90 TRANSFER TO ELECTRIC FUND (ERP) 25,000 25,000 91 TRANSFER TO INVENTORY RESERVE 25,000 25,000 92 TRANSFERS SUBTOTAL 6,421,200 6,421,200 93 TOTAL EXPENDITURES 59,742,000 59,742,000 94 CURRENT YEAR BALANCE 5,018,800 5,018,800 95 TOTALS $ 64,760,800 $ 64,760,800 96 The City Manager is hereby authorized, without further approval of the City Council, to make 97 interdepartmental transfers of up to five percent of the amount hereinafter appropriated to any 98 department with the exception of any transfers prohibited by City Procedure #F306. 10

First Reading 99 CITY OF DOVER ORDINANCE # 2025-16 Item 1. 100 GOVERNMENTAL CAPITAL PROJECTS FUND 101 REVENUES AND BUDGET FOR 2025-2026 102 BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF DOVER, IN COUNCIL MET: 103 The amount hereinafter named aggregating Twenty Million One Hundred and Sixty-Three Thousand Seven 104 Hundred dollars ($20,163,700) or so much thereof as may be necessary are hereby appropriated from current 105 revenues and other funds for the use by several departments of the Municipal Government for the fiscal year 106 beginning July 1, 2025 and ending June 30, 2026: 107 REVENUES 108 2025/26 2025/26 109 BUDGET REVISED 110 BEGINNING BALANCE - PROJECTS $ 3,566,100 $ 6,584,300 111 REVENUES 112 MISCELLANEOUS RECIEPTS - 20,000 112 LINE OF CREDIT (HEAVY DUTY VEHICLES) - 324,500 113 STATE GRANTS - Other 3,924,500 7,014,500 114 TRANSFER FROM GENERAL FUND 5,720,400 5,720,400 115 TRANSFER FROM LODGING TAX 500,000 500,000 116 SUBTOTAL PROJECT RECEIPTS 10,144,900 13,579,400 117 TOTAL FUNDING SOURCES 10,144,900 13,579,400 118 TOTAL BEGINNING BALANCE AND REVENUES $ 13,711,000 $ 20,163,700 119 EXPENSE SUMMARY 120 2025/26 2025/26 121 EXPENDITURES BUDGET REVISED 122 FIRE $ 569,500 $ 569,500 123 GROUNDS 85,000 85,000 124 RECREATION 330,000 1,890,200 125 CODE ENFORCEMENT 135,000 135,000 126 POLICE 1,176,400 1,562,600 127 STREETS 2,870,000 3,667,600 128 STORMWATER 3,124,000 5,993,700 129 INFORMATION TECHNOLOGY 110,700 186,600 130 FACILITIES MANAGEMENT 474,000 474,000 131 PROCUREMENT & INVENTORY 517,000 1,280,100 132 FLEET MAINTENANCE 44,100 44,100 133 DEPARTMENT SUBTOTAL 9,435,700 15,888,400 134 BUDGET BALANCE 4,275,300 4,275,300 135 TOTAL BUDGET BALANCE & EXPENDITURES $ 13,711,000 $ 20,163,700 136 The City Manager is hereby authorized, without further approval of the City Council, to make 137 interdepartmental transfers of up to five percent of the amount hereinafter appropriated to any 138 department with the exception of any transfers prohibited by City Procedure #F306. 11

First Reading 139 CITY OF DOVER ORDINANCE # 2025-16 Item 1. 140 GENERAL FUND CONTINGENCY 141 CASH RECEIPTS/REVENUES AND BUDGET FOR 2025-2026 142 BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF DOVER, IN COUNCIL MET: 143 The amount hereinafter named aggregating Eight Hundred Ten Thousand Eight Hundred dollars 144 ($810,800) or so much thereof as may be necessary are hereby appropriated from current revenues 145 and other funds for the use by several departments of the Municipal Government for the fiscal year 146 beginning July 1, 2025 and ending June 30, 2026: 147 CASH RECEIPTS 148 2025/26 2025/26 149 BUDGET REVISED 150 BEGINNING BALANCE $ 790,800 $ 790,800 151 INTEREST EARNED 20,000 20,000 152 TOTALS $ 810,800 $ 810,800 153 EXPENSE SUMMARY 154 2025/26 2025/26 155 BUDGET REVISED 156 CARRY FORWARD TO NEXT YEAR $ 810,800 $ 810,800 157 TOTALS $ 810,800 $ 810,800 158 The City Manager is hereby authorized, without further approval of the City Council, to make 159 interdepartmental transfers of up to five percent of the amount hereinafter appropriated to any 160 department with the exception of any transfers prohibited by City Procedure #F306. 12

First Reading 161 CITY OF DOVER ORDINANCE # 2025-16 Item 1. 162 GOVERNMENTAL CAPITAL ASSET RESERVE 163 CASH RECEIPTS/REVENUES AND BUDGET FOR 2025-2026 164 BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF DOVER, IN COUNCIL MET: 165 The amount hereinafter named aggregating One Million Five Hundred Four Thousand Seven 166 Hundred dollars ($1,504,700) or so much thereof as may be necessary are hereby appropriated from 167 current revenues and other funds for the use by several departments of the Municipal Government for 168 the fiscal year beginning July 1, 2025 and ending June 30, 2026: 169 CASH RECEIPTS 170 2025/26 2025/26 171 BUDGET REVISED 172 BEGINNING BALANCE $ 1,404,700 $ 1,404,700 173 INTEREST EARNINGS 100,000 100,000 174 TOTALS $ 1,504,700 $ 1,504,700 175 EXPENSE SUMMARY 176 2025/26 2025/26 177 BUDGET REVISED 178 CARRY FORWARD TO NEXT YEAR $ 1,504,700 $ 1,504,700 179 TOTALS $ 1,504,700 $ 1,504,700 180 The City Manager is hereby authorized, without further approval of the City Council, to make 181 interdepartmental transfers of up to five percent of the amount hereinafter appropriated to any 182 department with the exception of any transfers prohibited by City Procedure #F306. 13

First Reading 183 CITY OF DOVER ORDINANCE # 2025-16 Item 1. 184 PARKLAND/RECREATION RESERVE 185 CASH RECEIPTS/REVENUES AND BUDGET FOR 2025-2026 186 BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF DOVER, IN COUNCIL MET: 187 The amount hereinafter named aggregating One Hundred Thousand dollars ($100,000) much 188 thereof as may be necessary are hereby appropriated from current revenues and other funds for the 189 use other funds for the use by several departments of the Municipal Government for the 190 fiscal year beginning July 1, 2025 and ending June 30, 2026: 191 OPERATING REVENUES 192 2025/26 2025/26 193 BUDGET REVISED 194 BEGINNING BALANCE $ 100,000 $ 100,000 195 INTEREST EARNINGS - - 196 TOTALS $ 100,000 $ 100,000 197 OPERATING EXPENSES 198 2025/26 2025/26 199 BUDGET REVISED 201 TRANSFER TO GENERAL CAPITAL PROJECT FUND $ - $ - 200 CURRENT YEAR BALANCE 100,000 100,000 201 TOTALS $ 100,000 $ 100,000 202 The City Manager is hereby authorized, without further approval of the City Council, to make 203 interdepartmental transfers of up to five percent of the amount hereinafter appropriated to any 204 department with the exception of any transfers prohibited by City Procedure #F306. 14

First Reading 205 CITY OF DOVER ORDINANCE # 2025-16 Item 1. 206 SANITATION 207 CASH RECEIPTS/REVENUES AND BUDGET FOR 2025-2026 208 BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF DOVER, IN COUNCIL MET: 209 The amount hereinafter named aggregating Five Million Five Hundred Thousand Two Hundred dollars 210 ($5,500,200) much thereof as may be necessary are hereby appropriated from current revenues and 211 other funds for the use other funds for the use by several departments of the Municipal Government for the 212 fiscal year beginning July 1, 2025 and ending June 30, 2026: 213 OPERATING REVENUES 214 2025/26 2025/26 215 BUDGET REVISED 216 BEGINNING BALANCE $ 331,800 $ 331,800 RECEIPTS 217 SANITATION SERVICES 5,168,400 5,168,400 218 TOTALS $ 5,500,200 $ 5,500,200 219 OPERATING EXPENSES 220 2025/26 2025/26 221 DEPARTMENT EXPENSES BUDGET REVISED 222 SANITATION OPERATIONS $ 3,282,900 $ 3,282,900 223 INTERFUND SERVICE FEES 615,800 615,800 224 TRANSFER TO CAPITAL FUND - PROJECTS 735,000 735,000 225 TOTAL EXPENSES 4,633,700 4,633,700 226 CURRENT YEAR BALANCE 866,500 866,500 227 TOTALS $ 5,500,200 $ 5,500,200 228 The City Manager is hereby authorized, without further approval of the City Council, to make 229 interdepartmental transfers of up to five percent of the amount hereinafter appropriated to any 230 department with the exception of any transfers prohibited by City Procedure #F306. 15

First Reading 231 CITY OF DOVER ORDINANCE # 2025-16 Item 1. 232 SANITATION CAPITAL PROJECTS FUND 233 CASH RECEIPTS/REVENUES AND BUDGET FOR 2025-2026 234 BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF DOVER, IN COUNCIL MET: 235 The amount hereinafter named aggregating One Million Four Hundred and Seventy-Four Thousand dollars 236 ($1,474,000) much thereof as may be necessary are hereby appropriated from current revenues and other funds 237 for the use other funds for the use by several departments of the Municipal Government for the 238 fiscal year beginning July 1, 2025 and ending June 30, 2026: 239 REVENUES 240 2025/26 2025/26 241 BUDGET REVISED 242 BEGINNING BALANCE $ - $ 739,000 243 TRANSFER FROM OPERATING FUND 735,000 735,000 244 TOTALS $ 735,000 $ 1,474,000 245 EXPENSE SUMMARY 246 2025/26 2025/26 247 DEPARTMENT EXPENSES BUDGET REVISED 248 SANITATION CAPITAL PROJECTS $ 735,000 $ 1,474,000 249 TOTAL EXPENSES 735,000 1,474,000 250 CURRENT YEAR BALANCE - - 251 TOTALS $ 735,000 $ 1,474,000 252 The City Manager is hereby authorized, without further approval of the City Council, to make 253 interdepartmental transfers of up to five percent of the amount hereinafter appropriated to any 254 department with the exception of any transfers prohibited by City Procedure #F306. 16

First Reading CITY OF DOVER ORDINANCE # 2025-16 Item 1. STORMWATER CASH RECEIPTS/REVENUES AND BUDGET FOR 2025-2026 BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF DOVER, IN COUNCIL MET: The amount hereinafter named aggregating Zero dollars ($0) much thereof as may be necessary are hereby appropriated from current revenues and other funds for the use other funds for the use by several departments of the Municipal for the fiscal year beginning July 1, 2025 and ending June 30, 2026: OPERATING REVENUES 2025/26 2025/26 BUDGET REVISED BEGINNING BALANCE $ - $ - STORMWATER SERVICES - - TOTALS $ - $ - OPERATING EXPENSES 2025/26 2025/26 DEPARTMENT EXPENSES BUDGET REVISED STORMWATER OPERATIONS $ - $ - INTERFUND SERVICE FEES - - UNCOLLECTIBLES - - TRANSFER TO CONTINGENCY RESERVES - - TRANSFER TO CAPITAL FUND - PROJECTS - - TOTAL EXPENSES - - CURRENT YEAR BALANCE - - TOTALS $ - $ - The City Manager is hereby authorized, without further approval of the City Council, to make interdepartmental transfers of up to five percent of the amount hereinafter appropriated to any department with the exception of any transfers prohibited by City Procedure #F306. 17

First Reading CITY OF DOVER ORDINANCE # 2025-16 Item 1. STORMWATER CAPITAL PROJECTS FUND CASH RECEIPTS/REVENUES AND BUDGET FOR 2025-2026 BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF DOVER, IN COUNCIL MET: The amount hereinafter named aggregating Zero dollars ($0) much thereof as may be necessary are hereby appropriated from current revenues and other funds for the use other funds for the use by several departments of the Municipal Government for thefiscal year beginning July 1, 2025 and ending June 30, 2026: OPERATING REVENUES 2025/26 2025/26 BUDGET REVISED BEGINNING BALANCE $ - $ - STATE GRANT - - STORMWATER SERVICES - - TOTALS $ - $ - OPERATING EXPENSES 2025/26 2025/26 DEPARTMENT EXPENSES BUDGET REVISED STORMWATER CAPITAL PROJECTS - - TOTAL EXPENSES - - CURRENT YEAR BALANCE - - TOTALS $ - $ - The City Manager is hereby authorized, without further approval of the City Council, to make interdepartmental transfers of up to five percent of the amount hereinafter appropriated to any department with the exception of any transfers prohibited by City Procedure #F306. 18

First Reading 255 CITY OF DOVER ORDINANCE # 2025-16 Item 1. 256 WATER FUND 257 REVENUES AND BUDGET FOR 2025-2026 258 BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF DOVER, IN COUNCIL MET: 259 The amount hereinafter named aggregating Nine Million Seven Hundred Ninety-Two Thousand Nine Hundred 260 dollars ($9,792,900) or so much thereof as may be necessary are hereby appropriated from current revenues 261 and other funds for the use by several departments of the Municipal Government for the fiscal year 262 beginning July 1, 2025 and ending June 30, 2026: 263 2025/26 2025/26 264 BUDGET REVISED 265 BEGINNING BALANCE - WATER $ 1,295,000 $ 1,295,000 266 TOTAL BEGINNING BALANCES 1,295,000 1,295,000 267 BASE REVENUE 268 WATER SERVICES 7,568,500 7,568,500 269 WATER TANK SPACE LEASING 464,000 464,000 270 WATER IMPACT FEES 250,000 250,000 271 INTEREST - WATER 150,000 150,000 272 MISCELLANEOUS SERVICE FEE 65,400 65,400 273 TOTAL REVENUES 8,497,900 8,497,900 274 TOTAL BEGINNING BALANCES AND REVENUES $ 9,792,900 $ 9,792,900 19

First Reading 275 2025-2026 BUDGET ORDINANCES Item 1. 276 WATER FUND - EXPENSES AND BUDGET BALANCE FOR 2025-2026 277 2025/26 2025/26 278 DIRECT EXPENSES BUDGET REVISED 279 ENGINEERING & INSPECTION $ 416,600 $ 416,600 280 WATER DEPARTMENT 971,000 971,000 281 WATER TREATMENT PLANT 3,081,500 3,081,500 282 DIRECT EXPENDITURE SUBTOTAL 4,469,100 4,469,100 283 OTHER EXPENSES 284 DEBT SERVICE - WATER 543,000 543,000 285 INTERFUND SERVICE FEES 750,900 750,900 286 BANK & CREDIT CARD FEES 25,000 25,000 287 OTHER EXPENSES SUBTOTAL 1,318,900 1,318,900 288 TRANSFER TO: 289 GENERAL FUND FROM WATER 1,000,000 1,000,000 290 WATER IMP AND EXT 1,280,600 1,280,600 291 ELECTRIC FUND (ERP) 25,000 25,000 292 TRANSFER TO INVENTORY WRITE-OFFS 5,000 5,000 293 TRANSFER TO SUBTOTAL 2,310,600 2,310,600 294 TOTAL EXPENSES 8,098,600 8,098,600 297 BUDGET BALANCE SUBTOTALS 1,694,300 1,694,300 298 TOTAL CURRENT YEAR BALANCES AND EXPENSES $ 9,792,900 $ 9,792,900 299 The City Manager is hereby authorized, without further approval of the City Council, to make 300 interdepartmental transfers of up to five percent of the amount hereinafter appropriated to any 301 department with the exception of any transfers prohibited by City Procedure #F306. 20

First Reading 302 CITY OF DOVER ORDINANCE # 2025-16 Item 1. 303 WATER IMPROVEMENT & EXTENSION FUND 304 CASH RECEIPTS/REVENUES AND BUDGET FOR 2025-2026 305 BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF DOVER, IN COUNCIL MET: 306 The amount hereinafter named aggregating Sixteen Million Four Hundred and Fifteen Thousand One 307 Hundred dollars ($16,415,100) or so much thereof as may be necessary are hereby appropriated from 308 current revenues and other funds for the use by several departments of the Municipal Government 309 for the fiscal year begining July 1, 2025 and ending June 30, 2026: 310 CASH RECEIPTS 311 2025/26 2025/26 312 BUDGET REVISED 313 BEGINNING BALANCE - WATER $ 93,500 $ 4,436,900 314 TOTAL BEGINNING BALANCES 93,500 4,436,900 315 REVENUES 316 STATE LOAN FUND - WATER 2,217,500 2,217,500 317 STATE GRANT - WATER 5,000,000 8,072,500 318 TRANS FR OPERATING FUND - WATER 1,280,600 1,280,600 319 TRANSFER FR WATER IMPACT FEE 282,500 357,600 320 INTEREST INCOME 50,000 50,000 321 TOTAL REVENUES 8,830,600 11,978,200 322 TOTAL BEGINNING BALANCES & REVENUES $ 8,924,100 $ 16,415,100 323 EXPENSE SUMMARY 324 2025/26 2025/26 325 EXPENSES BUDGET REVISED 326 ENGINEERING $ - $ - 327 WATER 3,098,600 9,711,400 328 WATER TREATMENT PLANT 5,682,000 6,560,200 329 TOTAL EXPENSES 8,780,600 16,271,600 331 CURRENT YEAR BALANCE SUBTOTALS 143,500 143,500 332 TOTAL BUDGET BALANCES & EXPENSES $ 8,924,100 $ 16,415,100 333 The City Manager is hereby authorized, without further approval of the City Council, to make 334 interdepartmental transfers of up to five percent of the amount hereinafter appropriated to any 335 department with the exception of any transfers prohibited by City Procedure #F306. 21

First Reading 336 CITY OF DOVER ORDINANCE # 2025-16 Item 1. 337 WASTEWATER FUND 338 REVENUES AND BUDGET FOR 2025-2026 339 BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF DOVER, IN COUNCIL MET: 340 The amount hereinafter named aggregating Sixteen Million Two Hundred and Eighteen Thousand Seven 341 Hundred dollars ($16,218,700) or so much thereof as may be necessary are hereby appropriated from 342 current revenues and other funds for the use by several departments of the Municipal Government 343 for the fiscal year beginning July 1, 2025 and ending June 30, 2026: 344 2025/26 2025/26 345 BUDGET REVISED 346 BEGINNING BALANCE - WASTEWATER $ 3,507,000 $ 3,507,000 347 TOTAL BEGINNING BALANCES 3,507,000 3,507,000 348 BASE REVENUE 349 WASTEWATER SERVICES 5,131,300 5,131,300 350 WASTEWATER TREATMENT SERVICES 4,775,400 4,775,400 351 GROUNDWATER INFLOW ADJUSTMENT 2,369,800 2,369,800 352 WASTEWATER IMPACT FEES 235,000 235,000 353 INTEREST - WASTEWATER 200,000 200,000 354 MISCELLANEOUS SERVICE FEE 200 200 355 TOTAL REVENUES 12,711,700 12,711,700 356 TOTAL BEGINNING BALANCES AND REVENUES $ 16,218,700 $ 16,218,700 22

First Reading 357 2025-2026 BUDGET ORDINANCES Item 1. 358 WASTEWATER FUND - EXPENSES AND BUDGET BALANCE FOR 2025-2026 359 2025/26 2025/26 360 DIRECT EXPENSES BUDGET REVISED 361 ENGINEERING & INSPECTION $ 519,900 $ 519,900 362 WASTEWATER DEPARTMENT 1,524,400 1,524,400 363 DIRECT EXPENDITURE SUBTOTAL 2,044,300 2,044,300 364 OTHER EXPENSES 365 DEBT SERVICE - WASTEWATER 644,000 644,000 366 KENT COUNTY TREATMENT CHARGE 5,822,500 5,822,500 367 INTERFUND SERVICE FEES 935,200 935,200 368 BANK & CREDIT CARD FEES 6,000 6,000 369 OTHER EXPENSES SUBTOTAL 7,407,700 7,407,700 370 TRANSFER TO: 371 GENERAL FUND FROM WASTEWATER 1,000,000 1,000,000 372 WASTEWATER IMP AND EXT 2,694,900 2,694,900 373 ELETRIC FUND (ERP) 25,000 25,000 374 TRANSFER TO INVENTORY WRITE-OFFS 5,000 5,000 375 TRANSFER TO SUBTOTAL 3,724,900 3,724,900 376 TOTAL EXPENSES 13,176,900 13,176,900 377 BUDGET BALANCES 378 BUDGET BALANCE WASTEWATER 3,041,800 3,041,800 379 BUDGET BALANCE SUBTOTALS 3,041,800 3,041,800 380 TOTAL CURRENT YEAR BALANCES AND EXPENSES $ 16,218,700 $ 16,218,700 381 The City Manager is hereby authorized, without further approval of the City Council, to make 382 interdepartmental transfers of up to five percent of the amount hereinafter appropriated to any 383 department with the exception of any transfers prohibited by City Procedure #F306. 23

First Reading 384 CITY OF DOVER ORDINANCE # 2025-16 Item 1. 385 WASTEWATER IMPROVEMENT & EXTENSION FUND 386 CASH RECEIPTS/REVENUES AND BUDGET FOR 2025-2026 387 BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF DOVER, IN COUNCIL MET: 388 The amount hereinafter named aggregating Five Million Six Hundred and Seventy-Nine Thousand 389 Eight Hundred dollars ($5,679,800) or so much thereof as may be necessary are hereby appropriated 390 current revenues and other funds for the use by several departments of the Municipal Government 391 for the fiscal year begining July 1, 2025 and ending June 30, 2026: 392 CASH RECEIPTS 393 2025/26 2025/26 394 BUDGET REVISED 395 BEGINNING BALANCE - WASTEWATER $ 787,100 $ 2,604,200 396 REVENUES 397 STATE GRANT - 95,300 398 TRANS FR OPERATING FUND - WW 2,694,900 2,694,900 399 TRANSFER FR WASTEWATER IMPACT FEE 7,200 235,400 400 INTEREST INCOME 50,000 50,000 401 TOTAL REVENUES 2,752,100 3,075,600 402 TOTAL BEGINNING BALANCES & REVENUES $ 3,539,200 $ 5,679,800 403 EXPENSE SUMMARY 404 2025/26 2025/26 405 EXPENSES BUDGET REVISED 406 WASTEWATER $ 2,702,100 $ 4,842,700 407 TOTAL EXPENSES 2,702,100 4,842,700 408 BUDGET BALANCE - WASTEWATER 837,100 837,100 409 CURRENT YEAR BALANCE SUBTOTALS 837,100 837,100 410 TOTAL BUDGET BALANCES & EXPENSES $ 3,539,200 $ 5,679,800 411 The City Manager is hereby authorized, without further approval of the City Council, to make 412 interdepartmental transfers of up to five percent of the amount hereinafter appropriated to any 413 department with the exception of any transfers prohibited by City Procedure #F306. 24

First Reading 414 CITY OF DOVER ORDINANCE # 2025-16 Item 1. 415 WATER CAPITAL ASSET RESERVE 416 CASH RECEIPTS/REVENUES AND BUDGET FOR 2025-2026 417 BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF DOVER, IN COUNCIL MET: 418 The amount hereinafter named aggregating Six Hundred Thirty-Six Thousand Two Hundred dollars 419 ($636,200) or so much thereof as may be necessary are hereby appropriated from current revenues 420 and other funds for the use by several departments of the Municipal Government for the fiscal year 421 beginning July 1, 2025 and ending June 30, 2026: 422 CASH RECEIPTS 423 2025/26 2025/26 424 BUDGET REVISED 425 BEGINNING BALANCE - WATER $ 616,200 $ 616,200 426 TOTAL BEGINNING BALANCES 616,200 616,200 427 RECEIPTS 428 INTEREST EARNINGS - WATER 20,000 20,000 429 TOTAL RECEIPTS 20,000 20,000 430 TOTALS $ 636,200 $ 636,200 431 EXPENSE SUMMARY 432 2025/26 2025/26 433 BUDGET REVISED 434 CURRENT YEAR BALANCE - WATER $ 636,200 $ 636,200 435 CURRENT YEAR BALANCE SUBTOTALS 636,200 636,200 436 TOTALS $ 636,200 $ 636,200 437 The City Manager is hereby authorized, without further approval of the City Council, to make 438 interdepartmental transfers of up to five percent of the amount hereinafter appropriated to any 439 department with the exception of any transfers prohibited by City Procedure #F306. 25

First Reading 440 CITY OF DOVER ORDINANCE # 2025-16 Item 1. 441 WASTEWATER CAPITAL ASSET RESERVE 442 CASH RECEIPTS/REVENUES AND BUDGET FOR 2025-2026 443 BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF DOVER, IN COUNCIL MET: 444 The amount hereinafter named aggregating Six Hundred Thirty-Four Thousand Eight Hundred dollars 445 ($634,800) or so much thereof as may be necessary are hereby appropriated from current revenues and 446 other funds for the use by several departments of the Municipal Government for the fiscal year beginning 447 July 1, 2025 and ending June 30, 2026: 448 CASH RECEIPTS 449 2025/26 2025/26 450 BUDGET REVISED 451 BEGINNING BALANCE - WASTEWATER $ 614,800 $ 614,800 452 TOTAL BEGINNING BALANCES 614,800 614,800 453 RECEIPTS 454 INTEREST EARNINGS - WASTEWATER 20,000 20,000 455 TOTAL RECEIPTS 20,000 20,000 456 TOTALS $ 634,800 $ 634,800 457 EXPENSE SUMMARY 458 2025/26 2025/26 459 BUDGET REVISED 460 CURRENT YEAR BALANCE - WASTEWATER $ 634,800 $ 634,800 461 CURRENT YEAR BALANCE SUBTOTALS 634,800 634,800 462 TOTALS $ 634,800 $ 634,800 463 The City Manager is hereby authorized, without further approval of the City Council, to make 464 interdepartmental transfers of up to five percent of the amount hereinafter appropriated to any 465 department with the exception of any transfers prohibited by City Procedure #F306. 26

First Reading 466 CITY OF DOVER ORDINANCE # 2025-16 Item 1. 467 WATER IMPACT FEE RESERVE 468 CASH RECEIPTS/REVENUES AND BUDGET FOR 2025-2026 469 BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF DOVER, IN COUNCIL MET: 470 The amount hereinafter named aggregating Two Million One Hundred Thirty-Two Thousand Seven 471 Hundred dollars ($2,132,700) or so much thereof as may be necessary are hereby appropriated from 472 current revenues and other funds for the use by several departments of the Municipal Government 473 for the fiscal year beginning July 1, 2025 and ending June 30, 2026: 474 CASH RECEIPTS 475 2025/26 2025/26 476 BUDGET REVISED 477 BEGINNING BALANCE - WATER $ 2,082,700 $ 2,082,700 478 TOTAL BEGINNING BALANCES 2,082,700 2,082,700 479 RECEIPTS 480 INTEREST EARNINGS - WATER 50,000 50,000 481 TOTAL RECEIPTS 50,000 50,000 482 TOTALS $ 2,132,700 $ 2,132,700 483 EXPENSE SUMMARY 484 2025/26 2025/26 485 BUDGET REVISED 486 TRANSFER TO I & E FUND FROM WATER IMPACT FEES - 357,600 487 CURRENT YEAR BALANCE - WATER $ 2,132,700 $ 1,775,100 488 CURRENT YEAR BALANCE SUBTOTALS 2,132,700 2,132,700 489 TOTALS $ 2,132,700 $ 2,132,700 490 The City Manager is hereby authorized, without further approval of the City Council, to make 491 interdepartmental transfers of up to five percent of the amount hereinafter appropriated to any 492 department with the exception of any transfers prohibited by City Procedure #F306. 27

First Reading 493 CITY OF DOVER ORDINANCE # 2025-16 Item 1. 494 WASTEWATER IMPACT FEE RESERVE 495 CASH RECEIPTS/REVENUES AND BUDGET FOR 2025-2026 496 BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF DOVER, IN COUNCIL MET: 497 The amount hereinafter named aggregating Six Million Two Hundred Sixty-Four Thousand Six Hundred 498 dollars ($6,264,600) or so much thereof as may be necessary are hereby appropriated from current 499 revenues and other funds for the use by several departments of the Municipal Government for the fiscal 500 year beginning July 1, 2025 and ending June 30, 2026: 501 CASH RECEIPTS 502 2025/26 2025/26 503 BUDGET REVISED 504 BEGINNING BALANCE - WASTEWATER $ 6,064,600 $ 6,064,600 505 TOTAL BEGINNING BALANCES 6,064,600 6,064,600 506 RECEIPTS 507 INTEREST EARNINGS - WASTEWATER 200,000 200,000 508 TOTAL RECEIPTS 200,000 200,000 509 TOTALS $ 6,264,600 $ 6,264,600 510 EXPENSE SUMMARY 511 2025/26 2025/26 512 BUDGET REVISED 513 TRANSFER TO I & E FUND FROM WASTEWATER IMPACT FEES $ - $ 235,400 514 CURRENT YEAR BALANCE - WASTEWATER $ 6,264,600 $ 6,029,200 515 CURRENT YEAR BALANCE SUBTOTALS 6,264,600 6,264,600 516 TOTALS $ 6,264,600 $ 6,264,600 517 The City Manager is hereby authorized, without further approval of the City Council, to make 518 interdepartmental transfers of up to five percent of the amount hereinafter appropriated to any 519 department with the exception of any transfers prohibited by City Procedure #F306. 28

First Reading 520 CITY OF DOVER ORDINANCE # 2025-16 Item 1. 521 WATER CONTINGENCY RESERVE 522 CASH RECEIPTS/REVENUES AND BUDGET FOR 2025-2026 523 BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF DOVER, IN COUNCIL MET: 524 The amount hereinafter named aggregating Three Hundred Thirty-Six Thousand Seven Hundred dollars 525 ($336,700) or so much thereof as may be necessary are hereby appropriated from current revenues and 526 other funds for the use by several departments of the Municipal Government for the fiscal year 527 beginning July 1, 2025 and ending June 30, 2026: 528 CASH RECEIPTS 529 2025/26 2025/26 530 BUDGET REVISED 531 BEGINNING BALANCE - WATER $ 326,700 $ 326,700 532 TOTAL BEGINNING BALANCES 326,700 326,700 533 RECEIPTS 534 INTEREST EARNINGS - WATER 10,000 10,000 535 TOTAL RECEIPTS 10,000 10,000 536 TOTALS $ 336,700 $ 336,700 537 BUDGET SUMMARY 538 2025/26 2025/26 539 BUDGET REVISED 540 CURRENT YEAR BALANCE - WATER $ 336,700 $ 336,700 541 CURRENT YEAR BALANCE SUBTOTALS 336,700 336,700 542 TOTAL EXPENSES AND CURRENT YEAR BALANCES $ 336,700 $ 336,700 543 The City Manager is hereby authorized, without further approval of the City Council, to make 544 interdepartmental transfers of up to five percent of the amount hereinafter appropriated to any 545 department with the exception of any transfers prohibited by City Procedure #F306. 29

First Reading 546 CITY OF DOVER ORDINANCE # 2025-16 Item 1. 547 WASTEWATER CONTINGENCY RESERVE 548 CASH RECEIPTS/REVENUES AND BUDGET FOR 2025-2026 549 BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF DOVER, IN COUNCIL MET: 550 The amount hereinafter named aggregating Three Hundred Thirty-Eight Thousand Seven Hundred dollars 551 ($338,700) or so much thereof as may be necessary are hereby appropriated from current revenues and 552 other funds for the use by several departments of the Municipal Government for the fiscal year beginning 553 July 1, 2025 andending June 30, 2026: 554 CASH RECEIPTS 555 2025/26 2025/26 556 BUDGET REVISED 557 BEGINNING BALANCE - WASTEWATER $ 326,700 $ 326,700 558 TOTAL BEGINNING BALANCES 326,700 326,700 559 RECEIPTS 560 INTEREST EARNINGS - WASTEWATER 12,000 12,000 561 TOTAL RECEIPTS 12,000 12,000 562 TOTALS $ 338,700 $ 338,700 563 BUDGET SUMMARY 564 2025/26 2025/26 565 BUDGET REVISED 566 CURRENT YEAR BALANCE - WASTEWATER $ 338,700 $ 338,700 567 CURRENT YEAR BALANCE SUBTOTALS 338,700 338,700 568 TOTAL EXPENSES AND CURRENT YEAR BALANCES $ 338,700 $ 338,700 569 The City Manager is hereby authorized, without further approval of the City Council, to make 570 interdepartmental transfers of up to five percent of the amount hereinafter appropriated to any 571 department with the exception of any transfers prohibited by City Procedure #F306. 30

First Reading 572 CITY OF DOVER ORDINANCE # 2025-16 Item 1. 573 ELECTRIC REVENUE FUND 574 REVENUES AND BUDGET FOR 2025-2026 575 BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF DOVER, IN COUNCIL MET: 576 The amount hereinafter named aggregating One Hurdred Fifty-Eight Million Seven Hundred Ten Thousand 577 Six Hundred dollars ($158,710,000) or so much thereof as may be necessary are hereby appropriated 578 from current revenues and other funds for the use by several departments of the Municipal 579 Government for the fiscal year beginning July 1, 2025 and ending June 30, 2026: 580 2025/26 2025/26 581 BUDGET REVISED 582 BEGINNING BALANCE $ 52,519,600 $ 52,519,600 583 DISTRIBUTION OF EARNINGS - PCA CREDIT - - 584 BEGINNING BALANCE - ADJUSTED 52,519,600 52,519,600 585 BASE REVENUE 586 DIRECT SALES TO CUSTOMER 101,796,900 101,796,900 587 UTILITY TAX 1,348,500 1,348,500 588 MISCELLANEOUS REVENUE 700,000 700,000 589 RENT REVENUE 135,000 135,000 590 GREEN ENERGY 135,000 135,000 591 INTEREST EARNINGS 2,000,000 2,000,000 592 TRANSFER FROM DEPR. RESERVE - - 593 TRANSFER FROM OTHER FUNDS (ERP) 75,000 75,000 594 TOTAL REVENUES 106,190,400 106,190,400 595 TOTAL BEGINNING BALANCE & REVENUES $ 158,710,000 $ 158,710,000 31

First Reading 596 2025-2026 BUDGET ORDINANCES Item 1. 597 ELECTRIC REVENUE FUND EXPENSES AND BUDGET BALANCE FOR 2025-2026 598 2025/26 2025/26 599 EXPENSES BUDGET REVISED 600 POWER SUPPLY $ 26,631,500 $ 26,631,500 601 SOLAR ENERGY 3,361,200 3,361,200 602 SOLAR RENEWAL ENERGY CREDITS 375,100 375,100 603 POWER SUPPLY MANAGEMENT 729,900 729,900 604 REC'S (Renewable Energy Credits) 6,465,100 6,465,100 605 RGGI (Regional Greenhouse Gas Init.) 87,500 87,500 606 PJM CHARGES - ENERGY 12,675,700 12,675,700 607 PJM CHARGES - TRANSMISSION & FEES 17,001,700 17,001,700 608 CAPACITY CHARGES 22,291,100 22,291,100 609 SUB-TOTAL POWER SUPPLY 89,618,800 89,618,800 610 PLANT OPERATIONS 2,239,600 2,239,600 611 GENERATIONS FUELS 28,500 28,500 612 PJM SPOT MARKET ENERGY (108,300) (108,300) 613 PJM CREDITS (188,000) (188,000) 614 CAPACITY CREDITS (9,336,100) (9,336,100) 615 GENERATION SUBTOTAL (7,364,300) (7,364,300) 616 POWER SUPPLY & GENERATION SUBTOTAL 82,254,500 82,254,500 617 DIRECT EXPENDITURES 618 TRANSMISSION/DISTRIBUTION 5,743,600 5,743,600 619 ELECTRICAL ENGINEERING 2,052,000 2,052,000 620 ADMINISTRATION 1,751,900 1,751,900 621 METER READING 569,400 569,400 622 SYSTEMS OPERATIONS 1,159,400 1,159,400 623 DIRECT EXPENDITURE SUBTOTALS 11,276,300 11,276,300 624 OTHER EXPENSES: 625 UTILITY TAX 1,348,500 1,348,500 626 ALLOW FOR UNCOLLECTIBLES 100,000 100,000 627 CONTRACTUAL SERVICES - RFP'S 50,000 50,000 628 LEGAL EXPENSES 50,000 50,000 629 INTERFUND SERVICE FEES 5,123,800 5,123,800 630 INTEREST ON DEPOSITS 20,000 20,000 631 BANK & CREDIT CARD FEES 650,000 650,000 632 DEBT SERVICE 1,376,300 1,376,300 633 STORM EXPENSE 150,000 150,000 634 OTHER EXPENSES SUBTOTAL 8,868,600 8,868,600 635 TRANSFER TO: 636 IMPROVEMENT & EXTENSION 10,538,300 10,538,300 636 GENERAL FUND 10,000,000 10,000,000 637 OTHER RESERVES 135,000 135,000 638 TRANSFER TO INVENTORY WRITE-OFFS 100,000 100,000 639 TRANSFER TO SUBTOTAL 20,773,300 20,773,300 640 TOTAL EXPENSES 123,172,700 123,172,700 641 BUDGET BALANCE - WORKING CAPITAL 35,537,300 35,537,300 642 TOTALS $ 158,710,000 $ 158,710,000 643 The City Manager is hereby authorized, without further approval of the City Council, to make 644 interdepartmental transfers of up to five percent of the amount hereinafter appropriated to any 645 department with the exception of any transfers prohibited by City Procedure #F306. 32

First Reading 646 CITY OF DOVER ORDINANCE # 2025-16 Item 1. 647 ELECTRIC UTILITY IMPROVEMENT AND EXTENSION FUND 648 CASH RECEIPTS/REVENUES AND BUDGET FOR 2025-2026 649 BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF DOVER, IN COUNCIL MET: 650 The amount hereinafter named aggregating Twenty-Five Million Four Hundred and Forty Thousand Six 651 Hundred dollars ($25,440,600) or so much thereof as may be necessary are hereby appropriated from 652 current revenues and other funds for the use by several departments of the Municipal Government 653 for the fiscal year beginning July 1, 2025 and ending June 30, 2026: 654 REVENUES 655 2025/26 2025/26 656 BUDGET REVISED 657 BEGINNING BALANCE $ 9,610,900 $ 14,702,300 658 REVENUES 659 GRANT/BOND/LOAN 10,538,300 10,538,300 660 GENERAL SERVICE BILLING 200,000 200,000 661 TOTAL REVENUES 10,738,300 10,738,300 662 TOTALS $ 20,349,200 $ 25,440,600 663 EXPENSE SUMMARY 664 2025/26 2025/26 665 EXPENSES BUDGET REVISED 666 ELECTRIC ADMINISTRATION $ 60,000 $ 60,000 667 ELECTRIC GENERATION 460,000 807,800 668 TRANSMISSION AND DISTRIBUTION 2,400,000 3,649,000 669 ELECTRICAL ENGINEERING 5,964,000 9,458,600 670 METER READING 50,800 50,800 670 ERP SYSTEM 1,803,500 1,430,700 671 TOTAL EXPENSES 10,738,300 15,456,900 672 BUDGET BALANCE 9,610,900 9,983,700 673 TOTAL BUDGET BALANCE & EXPENSES $ 20,349,200 $ 25,440,600 674 The City Manager is hereby authorized, without further approval of the City Council, to make 675 interdepartmental transfers of up to five percent of the amount hereinafter appropriated to any 676 department with the exception of any transfers prohibited by City Procedure #F306. 33

First Reading 677 CITY OF DOVER ORDINANCE # 2025-16 Item 1. 678 ELECTRIC UTILITY CONTINGENCY RESERVE 679 CASH RECEIPTS/REVENUES AND BUDGET FOR 2025-2026 680 BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF DOVER, IN COUNCIL MET: 681 The amount hereinafter named aggregating One Million Forty-Seven Thousand Four Hundred dollars 682 ($1,047,400) or so much thereof as may be necessary are hereby appropriated from current revenues 683 and other funds for the use by several departments of the Municipal Government for the fiscal year 684 beginning July 1, 2025 and ending June 30, 2026: 685 CASH RECEIPTS 686 2025/26 2025/26 687 BUDGET REVISED 688 BEGINNING BALANCE $ 1,012,400 $ 1,012,400 689 RECEIPTS 690 INTEREST EARNINGS 35,000 35,000 691 TOTAL RECEIPTS 35,000 35,000 692 TOTALS $ 1,047,400 $ 1,047,400 693 EXPENSE SUMMARY 694 2025/26 2025/26 695 BUDGET REVISED 696 CURRENT YEAR BALANCE $ 1,047,400 $ 1,047,400 697 TOTALS $ 1,047,400 $ 1,047,400 698 The City Manager is hereby authorized, without further approval of the City Council, to make 699 interdepartmental transfers of up to five percent of the amount hereinafter appropriated to any 700 department with the exception of any transfers prohibited by City Procedure #F306. 34

First Reading 701 CITY OF DOVER ORDINANCE # 2025-16 Item 1. 702 ELECTRIC UTILITY DEPRECIATION RESERVE 703 SOURCES AND USE OF FUNDS FOR 2025-2026 704 BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF DOVER, IN COUNCIL MET: 705 The amount hereinafter named aggregating Seventeen Million Seven Hundred Seventeen Thousand Seven 706 dollars ($17,717,700) or so much thereof as may be necessary are hereby appropriated from 707 current revenues and other funds for the use by several departments of the Municipal Government 708 for the fiscal year beginning July 1, 2025 and ending June 30, 2026: 709 CASH RECEIPTS 710 2025/26 2025/26 711 BUDGET REVISED 712 BEGINNING BALANCE $ 17,367,700 $ 17,367,700 713 INTEREST EARNINGS 350,000 350,000 714 TOTALS $ 17,717,700 $ 17,717,700 715 BUDGET SUMMARY 716 2025/26 2025/26 717 BUDGET REVISED 718 TRANSFER TO ELECTRIC I & E $ - $ - 719 CURRENT YEAR BALANCE 17,717,700 17,717,700 720 TOTALS $ 17,717,700 $ 17,717,700 720 The City Manager is hereby authorized, without further approval of the City Council, to make 721 interdepartmental transfers of up to five percent of the amount hereinafter appropriated to any 722 department with the exception of any transfers prohibited by City Procedure #F306. 35

First Reading 723 CITY OF DOVER ORDINANCE # 2025-16 Item 1. 724 ELECTRIC UTILITY FUTURE CAPACITY RESERVE 725 SOURCES AND USE OF FUNDS FOR 2025-2026 726 BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF DOVER, IN COUNCIL MET: 727 The amount hereinafter named aggregating Thirteen Million Nine Hundred Ninety Thousand Three 728 Hundred dollars ($13,990,300) or so much thereof as may be necessary are hereby appropriated 729 from current revenues and other funds for the use by several departments of the Municipal 730 Government for the fiscal year beginning July 1, 2025 and ending June 30, 2026: 731 CASH RECEIPTS 732 2025/26 2025/26 733 BUDGET REVISED 734 BEGINNING BALANCE $ 13,490,300 $ 13,490,300 735 INTEREST EARNINGS 500,000 500,000 736 TOTALS $ 13,990,300 $ 13,990,300 737 BUDGET SUMMARY 738 2025/26 2025/26 739 BUDGET REVISED 740 TRANSFER TO ELECTRIC I & E - $ - 741 CURRENT YEAR BALANCE $ 13,990,300 $ 13,990,300 742 TOTALS $ 13,990,300 $ 13,990,300 743 The City Manager is hereby authorized, without further approval of the City Council, to make 744 interdepartmental transfers of up to five percent of the amount hereinafter appropriated to any 745 department with the exception of any transfers prohibited by City Procedure #F306. 36

First Reading 746 CITY OF DOVER ORDINANCE # 2025-16 Item 1. 747 ELECTRIC UTILITY INSURANCE STABLIZATION RESERVE 748 SOURCES AND USE OF FUNDS FOR 2025-2026 749 BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF DOVER, IN COUNCIL MET: 750 The amount hereinafter named aggregating Nine Hundred Eighten Thousand Two Hundred dollars 751 ($918,200) or so much thereof as may be necessary are hereby appropriated from current revenues and 752 other funds for the use by several departments of the Municipal Government for the fiscal year 753 beginning July 1, 2025 and ending June 30, 2026: 754 CASH RECEIPTS 755 2025/26 2025/26 756 BUDGET REVISED 757 BEGINNING BALANCE $ 888,200 $ 888,200 758 INTEREST EARNINGS 30,000 30,000 759 TOTALS $ 918,200 $ 918,200 760 BUDGET SUMMARY 761 2025/26 2025/26 762 BUDGET REVISED 763 CURRENT YEAR BALANCE $ 918,200 $ 918,200 764 TOTALS $ 918,200 $ 918,200 765 The City Manager is hereby authorized, without further approval of the City Council, to make 766 interdepartmental transfers of up to five percent of the amount hereinafter appropriated to any 767 department with the exception of any transfers prohibited by City Procedure #F306. 37

First Reading 768 CITY OF DOVER ORDINANCE # 2025-16 Item 1. 769 ELECTRIC UTILITY RATE STABLIZATION RESERVE 770 SOURCES AND USE OF FUNDS FOR 2025-2026 771 BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF DOVER, IN COUNCIL MET: 772 The amount hereinafter named aggregating Ten Million One Hundred and Sixty-Four Thousand 773 Six Hundred dollars($10,164,600) or so much thereof as may be necessary are hereby appropriated 774 from current revenues and other funds for the use by several departments of the Municipal 775 Governmentfor the fiscal year beginning July 1, 2025 and ending June 30, 2026: 776 CASH RECEIPTS 777 2025/26 2025/26 778 BUDGET REVISED 779 BEGINNING BALANCE $ 9,804,600 $ 9,804,600 780 INTEREST EARNINGS 360,000 360,000 781 TOTALS $ 10,164,600 $ 10,164,600 782 BUDGET SUMMARY 783 2025/26 2025/26 784 BUDGET REVISED 785 CURRENT YEAR BALANCE 10,164,600 10,164,600 786 TOTALS $ 10,164,600 $ 10,164,600 787 The City Manager is hereby authorized, without further approval of the City Council, to make 788 interdepartmental transfers of up to five percent of the amount hereinafter appropriated to any 789 department with the exception of any transfers prohibited by City Procedure #F306. 38

First Reading 790 CITY OF DOVER ORDINANCE # 2025-16 Item 1. 791 MUNICIPAL STREET AID FUND 792 CASH RECEIPTS/REVENUES AND BUDGET FOR 2025-2026 793 BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF DOVER, IN COUNCIL MET: 794 The amount hereinafter named aggregating Seven Hundred Fifty Thousand One Hundred dollars 795 ($750,100) or so much thereof as may be necessary are hereby appropriated from current revenues 796 and other funds for the use by several departments of the Municipal Government for the fiscal year 797 beginning July 1, 2025 and ending June 30, 2026: 798 CASH RECEIPTS 799 2025/26 2025/26 800 BUDGET REVISED 801 BEGINNING BALANCE $ 100 $ 100 802 STATE GRANT 750,000 750,000 803 TOTALS $ 750,100 $ 750,100 804 BUDGET SUMMARY 805 2025/26 2025/26 806 BUDGET REVISED 807 TRANSFER TO GENERAL FUND $ 750,000 $ 750,000 808 CURRENT YEAR BALANCE 100 100 809 TOTALS $ 750,100 $ 750,100 810 The City Manager is hereby authorized, without further approval of the City Council, to make 811 interdepartmental transfers of up to five percent of the amount hereinafter appropriated to any 812 department with the exception of any transfers prohibited by City Procedure #F306. 39

First Reading 813 CITY OF DOVER ORDINANCE # 2025-16 Item 1. 814 ELECTRONIC RED LIGHT SAFETY PROGRAM 815 CASH RECEIPTS/REVENUES AND BUDGET FOR 2025-2026 816 BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF DOVER, IN COUNCIL MET: 817 The amount hereinafter named aggregating Fifty Thousand One Hundred dollars ($50,100) or 818 so much thereof as may be necessary are hereby appropriated from current revenues and other 819 funds for the use by several departments of the Municipal Government for the fiscal year 820 beginning July 1, 2025 and ending June 30, 2026: 821 CASH RECEIPTS 822 2025/26 2025/26 823 BUDGET REVISED 824 BEGINNING BALANCE $ 100 $ 100 825 POLICE FINES 50,000 50,000 826 TOTALS $ 50,100 $ 50,100 827 BUDGET SUMMARY 828 2025/26 2025/26 829 BUDGET REVISED 830 TRANSFER TO GENERAL FUND $ 50,000 $ 50,000 831 CURRENT YEAR BALANCE 100 100 832 TOTALS $ 50,100 $ 50,100 833 The City Manager is hereby authorized, without further approval of the City Council, to make 834 interdepartmental transfers of up to five percent of the amount hereinafter appropriated to any 835 department with the exception of any transfers prohibited by City Procedure #F306. 40

First Reading 836 CITY OF DOVER ORDINANCE # 2025-16 Item 1. 837 WORKERS COMPENSATION FUND 838 CASH RECEIPTS/REVENUES AND BUDGET FOR 2025-2026 839 BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF DOVER, IN COUNCIL MET: 840 The amount hereinafter named aggregating Eight Million One Thousand Seven Hundreddollars 841 ($8,001,700) or so much thereof as may be necessary are hereby appropriated from current 842 revenues and other funds for the use by several departments of the Municipal Government 843 for the fiscal year beginning July 1, 2025 and ending June 30, 2026: 844 OPERATING REVENUES 845 2025/26 2025/26 846 BUDGET REVISED 847 BEGINNING BALANCE $ 6,449,700 $ 6,449,700 848 INTEREST INCOME 200,000 200,000 849 PREMIUM FROM CITY 1,352,000 1,352,000 850 TOTALS $ 8,001,700 $ 8,001,700 851 OPERATING EXPENSES 852 2025/26 2025/26 853 BUDGET REVISED 854 PROGRAM EXPENSES/SUPPLIES - CLAIMS $ 300,000 $ 300,000 855 INSURANCE 300,000 300,000 856 STATE OF DEL - SELF INSURANCE TAX 30,000 30,000 857 CONTRACTUAL SERVICES 30,000 30,000 858 TOTAL EXPENSES 660,000 660,000 859 CURRENT YEAR BALANCE 7,341,700 7,341,700 860 TOTALS $ 8,001,700 $ 8,001,700 861 The City Manager is hereby authorized, without further approval of the City Council, to make 862 interdepartmental transfers of up to five percent of the amount hereinafter appropriated to any 863 department with the exception of any transfers prohibited by City Procedure #F306. 41

First Reading 864 CITY OF DOVER ORDINANCE # 2025-16 Item 1. 865 COMMUNITY TRANSPORTATION IMPROVEMENT FUND 866 CASH RECEIPTS/REVENUES AND BUDGET FOR 2025-2026 867 BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF DOVER, IN COUNCIL MET: 868 The amount hereinafter named aggregating Five Hundred Twenty-One Thousand Nine Hundred dollars 869 ($521,900) or so much thereof as may be necessary are hereby appropriated from current revenues 870 and other funds for the use by several departments of the Municipal Government for the fiscal year 871 beginning July 1, 2025 and ending June 30, 2026: 872 OPERATING REVENUES 873 2025/26 2025/26 874 BUDGET REVISED 875 PRIOR YEAR BALANCE $ 521,900 $ 521,900 876 GRANTS REVENUE - - 877 TOTALS $ 521,900 $ 521,900 878 OPERATING EXPENSES 879 2025/26 2025/26 880 BUDGET REVISED 881 PROGRAM EXP. GRANT RELATED $ - $ - 882 CURRENT YEAR BALANCE 521,900 521,900 883 TOTALS $ 521,900 $ 521,900 884 The City Manager is hereby authorized, without further approval of the City Council, to make 885 interdepartmental transfers of up to five percent of the amount hereinafter appropriated to any 886 department with the exception of any transfers prohibited by City Procedure #F306. 42

First Reading 887 CITY OF DOVER ORDINANCE # 2025-16 Item 1. 888 LIBRARY GRANT FUND 889 CASH RECEIPTS/REVENUES AND BUDGET FOR 2025-2026 890 BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF DOVER, IN COUNCIL MET: 891 The amount hereinafter named aggregating Four Hundred One Thousand One Hundred Fifty 892 dollars ($401,150) or so much thereof as may be necessary are hereby appropriated from current 893 revenues and other funds for the use by several departments of the Municipal Government for the 894 fiscal year beginning July 1, 2025 and ending June 30, 2026: 895 OPERATING REVENUES 896 2025/26 2025/26 897 BUDGET REVISED 898 PRIOR YEAR BALANCE $ - $ - 899 STATE GRANT 397,400 397,400 900 FEDERAL GRANT 3,750 3,750 901 TOTALS $ 401,150 $ 401,150 902 OPERATING EXPENSES 903 2025/26 2025/26 904 BUDGET REVISED 905 STATE GRANTS 906 FURNITURE/FIXTURES $ 30,800 $ 30,800 907 OFFICE SUPPLIES 30,000 30,000 908 PRINTING AND DUPLICATING 10,000 10,000 909 PROGRAM EXPENSES/SUPPLIES 37,000 37,000 910 BOOKS 145,000 145,000 911 COMPUTER SOFTWARE 6,000 6,000 912 COMPUTER HARDWARE 30,000 30,000 913 AUDIO VISUAL SUPPLIES 85,000 85,000 914 POSTAGE 100 100 915 ADVERTISING 10,000 10,000 916 TRAINING/CONF/FOOD/TRAV 5,000 5,000 917 OFF EQP/REPAIRS & MAINT 2,000 2,000 918 OTHER EQUIP - LEASE 6,000 6,000 919 STATE GRANT PROG EXP 500 500 920 SUBTOTAL EXPENSES STATE GRANTS 397,400 397,400 921 FEDERAL GRANTS 922 PROGRAM EXPENSES/SUPPLIES 3,750 3,750 923 SUBTOTAL EXPENSES FEDERAL GRANTS 3,750 3,750 924 GRAND TOTAL EXPENSES 401,150 401,150 925 CURRENT YEAR BALANCE - - 926 TOTALS $ 401,150 $ 401,150 927 The City Manager is hereby authorized, without further approval of the City Council, to make 928 interdepartmental transfers of up to five percent of the amount hereinafter appropriated to any 929 department with the exception of any transfers prohibited by City Procedure #F306. 43

First Reading 930 CITY OF DOVER ORDINANCE # 2025-16 Item 1. 931 CDBG GRANT FUND 932 CASH RECEIPTS/REVENUES AND BUDGET FOR 2025-2026 933 BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF DOVER, IN COUNCIL MET: 934 The amount hereinafter named aggregating Six Hundred Forty-Seven Thousand Two Hundred Ninety-Seven 935 dollars ($647,297) or so much thereof as may be necessary are hereby appropriated from current revenues 936 and other funds for the use by several departments of the Municipal Government for the fiscal year 937 beginning July 1, 2025 and ending June 30, 2026: 938 OPERATING REVENUES 939 2025/26 2025/26 940 BUDGET REVISED 941 PRIOR YEAR BALANCE - 307,363 942 CDBG GRANTS RECEIVED 339,933 339,933 943 944 TOTALS $ 339,933 $ 647,296 945 OPERATING EXPENSES 946 2025/26 2025/26 947 BUDGET REVISED 948 EXPENDITURES 949 PRIOR YEAR NSP PROGRAM $ - $ 6,000 950 PRIOR YEAR CLOSING COST/DOWN PAYMENT PROGRAM - 115,210 951 PRIOR YEAR DOVER INTERFAITH MINISTRY - 927 952 PRIOR YEAR MHDC EMERGENCY HOME REPAIR - 40,000 953 PRIOR YEAR MHDC HOMEOWNER REHAB. - 2,540 954 PRIOR YEAR MHDC HOMEOWNER REHAB. - 55,000 955 PRIOR YEAR MILFORD HOUSING H/O REHAB - 8,839 956 PRIOR YEAR HOUSE OF HOPE - 20,444 957 PRIOR YEAR ADMIN EXPENSE - 36,471 958 SALARIES - 18,000 959 CURRENT YEAR CLOSING COST/DOWN PAYMENT PROGRAM 87,846 77,691 960 CURRENT YEAR HABITAT FOR HUMANITY 25,000 25,000 961 CURRENT YEAR MHDC EMERGENCY REPAIRS 25,000 25,000 962 CURRENT YEAR HOUSE OF HOPE RENOVATIONS 15,000 15,000 963 CURRENT YEAR HOUSE OF HOPE OPERATIONS 25,000 25,000 964 CURRENT YEAR MILFORD HOUSING H/O REHAB 35,000 35,000 965 CURRENT YEAR PEOPLES COMMUNITY CENTER REHAB 40,000 40,000 966 CURRENT YEAR PEOPLES COMMUNITY CENTER OPERATIONS 22,700 22,700 967 CURRENT YEAR ADMIN EXPENSE 64,387 78,474 968 TOTAL EXPENDITURES 339,933 647,296 969 CURRENT YEAR BALANCE - - 970 TOTALS $ 339,933 $ 647,296 971 The City Manager is hereby authorized, without further approval of the City Council, to make 972 interdepartmental transfers of up to five percent of the amount hereinafter appropriated to any 973 department with the exception of any transfers prohibited by City Procedure #F306. 44

First Reading 974 CITY OF DOVER ORDINANCE # 2025-16 Item 1. 975 210 - ARPA FUNDING 976 CASH RECEIPTS/REVENUES AND BUDGET FOR 2025-2026 977 BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF DOVER, IN COUNCIL MET: 978 The amount hereinafter named aggregating Three Hundred Forty-Eight Thousand Five Hundred dollars 979 ($348,500) or so much thereof as may be necessary are hereby appropriated from current revenues 980 and other funds for the use by several departments of the Municipal Government for the fiscal year 981 beginning July 1, 2025 and ending June 30, 2026: 982 OPERATING REVENUES 983 2025/26 2025/26 984 BUDGET REVISED 985 PRIOR YEAR BALANCE $ 348,500 $ 348,500 986 INTEREST INCOME - - 987 TOTALS $ 348,500 $ 348,500 988 OPERATING EXPENSES 989 2025/26 2025/26 990 BUDGET REVISED 991 EXPENDITURES 992 PROGRAM EXPENSE/SUPPLIES $ - $ - 993 CONSTRUCTION - - 994 TOTAL EXPENDITURES - - 995 CURRENT YEAR BALANCE 348,500 348,500 996 TOTALS $ 348,500 $ 348,500 997 The above budget represents the combination of all State & Federal Grants. 998 The City Manager is hereby authorized, without further approval of the City Council, to make 999 interdepartmental transfers of up to five percent of the amount hereinafter appropriated to any 1000 department with the exception of any transfers prohibited by City Procedure #F306. 45

First Reading 1001 CITY OF DOVER ORDINANCE # 2025-16 Item 1. 1002 207 - POLICE GRANTS FUND 1003 CASH RECEIPTS/REVENUES AND BUDGET FOR 2025-2026 1004 BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF DOVER, IN COUNCIL MET: 1005 The amount hereinafter named aggregating One Hundred Sixty-Five Thousand dollars 1006 ($165,000) or so much thereof as may be necessary are hereby appropriated from current revenues 1007 and other funds for the use by several departments of the Municipal Government for the fiscal year 1008 beginning July 1, 2025 and ending June 30, 2026: 1009 OPERATING REVENUES 1010 2025/26 2025/26 1011 BUDGET REVISED 1012 PRIOR YEAR BALANCE $ - $ - 1013 STATE AND FEDERAL GRANTS RECEIVED 165,000 165,000 1014 TOTALS $ 165,000 $ 165,000 1015 OPERATING EXPENSES 1016 2025/26 2025/26 1017 BUDGET REVISED 1018 EXPENDITURES 1019 MATERIALS AND SUPPLIES 1020 PROGRAM EXPENSE - - 1020 POLICE EQUIPT & PROG SUPP - - 1021 TECHNOLOGY EQUIPMENT - - 1022 CONTRACTUAL SERVICES - - 1021 ADMINISTRATIVE EXPENDITURES 1022 TRAINING - - 1023 TOTAL EXPENDITURES - - 1024 OTHER FINANCING USES 1025 OPERATING TRANSFERS-OUT 165,000 165,000 1026 TOTAL FINANCING USES 165,000 165,000 1027 CURRENT YEAR BALANCE - - 1028 TOTALS $ 165,000 $ 165,000 1029 The above budget represents the combination of all State & Federal Grants. 1030 The City Manager is hereby authorized, without further approval of the City Council, to make 1031 interdepartmental transfers of up to five percent of the amount hereinafter appropriated to any 1032 department with the exception of any transfers prohibited by City Procedure #F306. 46

First Reading 1033 CITY OF DOVER ORDINANCE # 2025-16 Item 1. 1034 LODGING TAX FUND 1035 CASH RECEIPTS/REVENUES AND BUDGET FOR 2025-2026 1036 BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF DOVER, IN COUNCIL MET: 1037 The amount hereinafter named aggregating One Million dollars ($1,000,000) or so much thereof 1038 as may be necessary are hereby appropriated from current revenues and other funds for the use 1039 by several departments of the Municipal Government for the fiscal year beginning 1040 July 1, 2025 and ending June 30, 2026: 1041 CASH RECEIPTS 1042 2025/26 2025/26 1043 BUDGET REVISED 1044 BEGINNING BALANCE $ - $ - 1045 LODGING TAXES 1,000,000 1,000,000 1046 TOTALS $ 1,000,000 $ 1,000,000 1047 BUDGET SUMMARY 1048 2025/26 2025/26 1049 BUDGET REVISED 1050 TRANSFER TO CAPITAL PROJECT FUND $ 500,000 $ 500,000 1051 TRANSFER TO GOVT CAPITAL FUND 500,000 500,000 1052 CURRENT YEAR BALANCE 1,000,000 1,000,000 1053 TOTALS $ 1,000,000 $ 1,000,000 1054 The City Manager is hereby authorized, without further approval of the City Council, to make 1055 interdepartmental transfers of up to five percent of the amount hereinafter appropriated to any 1056 department with the exception of any transfers prohibited by City Procedure #F306. 47

First Reading 1057 CITY OF DOVER ORDINANCE # 2025-16 Item 1. 1058 209 - POLICE GRANTS FUND 1059 CASH RECEIPTS/REVENUES AND BUDGET FOR 2025-2026 1060 BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF DOVER, IN COUNCIL MET: 1061 The amount hereinafter named aggregating Two Hundred Nineteen Thousand and Nine Hundred Twenty-Four 1062 dollars ($219,900) or so much thereof as may be necessary are hereby appropriated from current revenues 1063 and other funds for the use by several departments of the Municipal Government for the fiscal year 1064 beginning July 1, 2025 and ending June 30, 2026: 1065 OPERATING REVENUES 1066 2025/26 2025/26 1067 BUDGET REVISED 1068 PRIOR YEAR BALANCE $ - $ - 1069 STATE AND FEDERAL GRANTS RECEIVED 219,900 219,900 1070 TOTALS $ 219,900 $ 219,900 1071 OPERATING EXPENSES 1072 2025/26 2025/26 1073 BUDGET REVISED 1074 MATERIALS AND SUPPLIES 1075 POLICE EQUIPT & PROG SUPP 219,900 219,900 1076 ADMINISTRATIVE EXPENDITURES 1077 TOTAL EXPENDITURES 219,900 219,900 1078 OTHER FINANCING USES 1079 OPERATING TRANSFERS-OUT - - 1080 TOTAL FINANCING USES - - 1081 CURRENT YEAR BALANCE - - 1082 TOTALS $ 219,900 $ 219,900 1083 The above budget represents the combination of all State & Federal Grants. 1084 The City Manager is hereby authorized, without further approval of the City Council, to make 1085 interdepartmental transfers of up to five percent of the amount hereinafter appropriated to any 1086 department with the exception of any transfers prohibited by City Procedure #F306. 48

First Reading 1087 CITY OF DOVER ORDINANCE # 2025-16 Item 1. 1088 SUBSTANCE ABUSE GRANTS FUND 1089 CASH RECEIPTS/REVENUES AND BUDGET FOR 2025-2026 1090 BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF DOVER, IN COUNCIL MET: 1091 The amount hereinafter named aggregating One Hundred Thirty-Two Thousand dollars ($132,000) or 1092 so much thereof as may be necessary are hereby appropriated from current revenues and other funds 1093 for the use by several departments of the Municipal Government for the fiscal year beginning 1094 July 1, 2025 and ending June 30, 2026: 1095 OPERATING REVENUES 1096 2025/26 2025/26 1097 BUDGET REVISED 1098 PRIOR YEAR BALANCE $ 42,000 $ 42,000 1099 STATE GRANTS RECEIVED 45,000 45,000 1100 RECREATION REVENUE 45,000 45,000 1101 TOTALS $ 132,000 $ 132,000 1102 OPERATING EXPENSES 1103 2025/26 2025/26 1104 BUDGET REVISED 1105 EXPENDITURES 1106 TEMPORARY HELP/BENEFITS $ 58,200 $ 58,200 1107 PROGRAM EXPENSES/SUPPLIES 45,000 45,000 1108 TOTAL EXPENDITURES 103,200 103,200 1109 CURRENT YEAR BALANCE 28,800 28,800 1110 TOTALS $ 132,000 $ 132,000 1111 The above budget represents the combination of all State & Federal Grants. 1112 The City Manager is hereby authorized, without further approval of the City Council, to make 1113 interdepartmental transfers of up to five percent of the amount hereinafter appropriated to any 1114 department with the exception of any transfers prohibited by City Procedure #F306. 49

First Reading 1115 CITY OF DOVER ORDINANCE # 2025-16 Item 1. 1116 REALTY TRANSFER TAX FUND 1117 CASH RECEIPTS/REVENUES AND BUDGET FOR 2025-2026 1118 BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF DOVER, IN COUNCIL MET: 1119 The amount hereinafter named aggregating Two Million Four Hundred Thousand dollars ($2,400,000) 1120 or so much thereof as may be necessary are hereby appropriated from current revenues and other 1121 funds for the use by several departments of the Municipal Government for the fiscal year beginning 1122 July 1, 2025 and ending June 30, 2026: 1123 CASH RECEIPTS 1124 2025/26 2025/26 1125 BUDGET REVISED 1126 BEGINNING BALANCE $ - $ - 1127 REALTY TRANSFER TAXES 2,400,000 2,400,000 1128 TOTALS $ 2,400,000 $ 2,400,000 1129 BUDGET SUMMARY 1130 2025/26 2025/26 1131 BUDGET REVISED 1132 TRANSFER TO GENERAL FUND $ 2,400,000 $ 2,400,000 1133 CURRENT YEAR BALANCE - - 1134 TOTALS $ 2,400,000 $ 2,400,000 1135 The City Manager is hereby authorized, without further approval of the City Council, to make 1136 interdepartmental transfers of up to five percent of the amount hereinafter appropriated to any 1137 department with the exception of any transfers prohibited by City Procedure #F306. 50

First Reading 1138 CITY OF DOVER ORDINANCE # 2025-16 Item 1. 1139 ECONOMIC & COMMUNITY DEVELOPMENT 1140 CASH RECEIPTS/REVENUES AND BUDGET FOR 2025-2026 1141 BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF DOVER, IN COUNCIL MET: 1142 The amount hereinafter named aggregating Seven Hunddred and Thirty-Four Thousnd dollars ($734,000) or 1143 so much thereof as may be necessary are hereby appropriated from current revenues and other funds for 1144 the use by several departments of the Municipal Government for the fiscal year beginning 1145 July 1, 2025 and ending June 30, 2026: 1146 CASH RECEIPTS 1147 2025/26 2025/26 1148 BUDGET REVISED 1149 BEGINNING BALANCE $ 734,000 $ 734,000 1150 TRANSFER FROM GENERAL FUND - - 1151 TOTALS $ 734,000 $ 734,000 1152 BUDGET SUMMARY 1153 2025/26 2025/26 1154 BUDGET REVISED 1155 PROGRAM EXPENSE $ - $ - 1156 CURRENT YEAR BALANCE 734,000 734,000 1157 TOTALS $ 734,000 $ 734,000 1158 The City Manager is hereby authorized, without further approval of the City Council, to make 1159 interdepartmental transfers of up to five percent of the amount hereinafter appropriated to any 1160 department with the exception of any transfers prohibited by City Procedure #F306. 51

First Reading 1161 CITY OF DOVER ORDINANCE # 2025-16 Item 1. 1162 AMULANCE SERVICE 1163 CASH RECEIPTS/REVENUES AND BUDGET FOR 2025-2026 1164 BE IT ORDAINED BY THE MAYOR AND COUNCIL OF THE CITY OF DOVER, IN COUNCIL MET: 1165 The amount hereinafter named aggregating Eight Hundred and Fifty Thousand dollars ($850,000) or so 1166 much thereof as may be necessary are hereby appropriated from current revenues and other funds for 1167 the use by several departments of the Municipal Government for the fiscal year beginning 1168 July 1, 2025 and ending June 30, 2026: 1169 CASH RECEIPTS 1170 2025/26 2025/26 1171 BUDGET REVISED 1172 BEGINNING BALANCE $ - $ - 1173 AMBULANCE FEE 850,000 850,000 1174 TOTALS $ 1,000,000 $ 850,000 1175 BUDGET SUMMARY 1176 2025/26 2025/26 1177 BUDGET REVISED 1178 TRANSFER TO GENERAL FUND $ 600,000 $ 600,000 1179 TRANSFER TO RESERVE 250,000 250,000 1180 CURRENT YEAR BALANCE - - 1181 TOTALS $ 850,000 $ 850,000 1182 The City Manager is hereby authorized, without further approval of the City Council, to make 1183 interdepartmental transfers of up to five percent of the amount hereinafter appropriated to any 1184 department with the exception of any transfers prohibited by City Procedure #F306. 52

Item 1. FY25 Carry Forward ACCOUNT ACCOUNT DESCRIPTION PROJECT 101-13-15-12-000-54031- Construction-Purchase PR2502 101-13-15-12-000-54031- Construction-Purchase PR2300 101-13-15-12-000-54031- Construction-Purchase PR2301 101-13-15-12-000-54031- Construction-Purchase PR2401 Total 12 Recreation 101-11-17-00-000-54022- Automobiles-Purchase 101-11-17-00-000-54031- Construction-Purchase PD2501 Total 17 Police 101-12-18-35-000-54023- Trucks V #329 101-12-18-35-000-54023- Trucks V #412 101-12-18-35-000-54030- Construction Purchase ST2003 101-12-18-35-000-54031- Construction-Purchase ST2201 101-12-18-35-000-54031- Construction-Purchase ST2101 101-12-18-35-000-54031- Construction-Purchase ST2302 Total 35 Street 101-12-18-60-000-54031- Construction SW2206 101-12-18-60-000-54031- Construction SW2502 101-12-18-60-000-54031- Construction SW2507 101-12-18-60-000-54031- Construction SW2409 101-12-18-60-000-54031- Construction SW2303 Total 60 Stormwater 101-16-22-99-000-54028- Computer Hardware IT2506 101-16-22-99-000-54028- Computer Hardware IT2404 101-16-22-99-000-54028- Computer Hardware IT2406 Total 22 Information Technology 101-15-27-99-000-54031- Construction-Purchase CS2501 101-15-27-99-000-54031- Construction-Purchase CS2502 Total 27 Purchasing TOTAL GENERAL FUND ACCOUNT ACCOUNT DESCRIPTION PROJECT 401-40-68-99-000-54025- Other Equipment WD2507 53

Item 1. 401-40-68-99-000-54025- Other Equipment WD2509 401-40-68-99-000-54031- Construction-Purchase WD2405 401-40-68-99-000-54031- Construction-Purchase WD2408 401-40-68-99-000-54031- Construction-Purchase WD2504 401-40-68-99-000-54031- Construction-Purchase WD2505 401-40-68-99-000-54031- Construction-Purchase WQ2306 401-40-68-99-000-54031- Construction-Purchase WQ2401 401-40-68-99-000-54031- Construction-Purchase WQ2503 401-40-76-99-000-54031- Construction-Purchase WD2508 Total 68 Water TOTAL WATER ACCOUNT ACCOUNT DESCRIPTION PROJECT 403-41-69-99-000-54023- Trucks V #655 403-41-69-99-000-54023- Trucks V #680 403-41-69-99-000-54031- Construction-Purchase WW2308 403-41-69-99-000-54031- Construction-Purchase WW2310 403-41-69-99-000-54031- Construction-Purchase WW2401 403-41-69-99-000-54031- Construction-Purchase WW2402 403-41-69-99-000-54031- Construction-Purchase WW2404 403-41-69-99-000-54031- Construction-Purchase WW2406 403-41-69-99-000-54031- Construction-Purchase WW2407 403-41-69-99-000-54031- Construction-Purchase WW2409 403-41-69-99-000-54031- Construction-Purchase WW2412 403-41-69-99-000-54031- Construction-Purchase WW2502 403-41-69-99-000-54031- Construction-Purchase WW2504 403-41-69-99-000-54031- Construction-Purchase WW2506 Total 68 Wastewater TOTAL WASTEWATER ACCOUNT ACCOUNT DESCRIPTION PROJECT 405-43-70-99-000-54023 Trucks V #441 405-43-70-99-000-54023 Trucks V #448 Total 50 Sanitation 54

Item 1. TOTAL SANITATION ACCOUNT ACCOUNT DESCRIPTION PROJECT 411-42-26-99-000-54025- Other Equipment EE2315 411-42-26-99-000-54025- Other Equipment EE2202 411-42-26-99-000-57035- Transmission and Switches EE2505 411-42-26-99-000-59025- Distribution Upgrades EE2511 411-42-26-99-000-59025- Distribution Upgrades EE2515 411-42-26-99-000-57060- Garrison Substation EE2215 Total 26 Engineering 411-42-80-99-000-54031- Construction-Purchase EG2404 411-42-80-99-000-54031- Construction-Purchase EG2501 Total 80 Plant Operations 411-42-82-99-000-54023- Trucks V #766 411-42-82-99-000-54023- Trucks V #757 411-42-82-99-000-54023- Trucks V #778 411-42-82-99-000-54025- Other Equipment V #775 Total 82 Transmission and Distribut TOTAL ELECTRIC ACCOUNT ACCOUNT DESCRIPTION PROJECT 206-14-99-99-000-51011- Salaries 206-14-99-99-000-51011-1914 PY25/FY26 Progr Administration 206-14-99-99-000-51011-1915 PY24/FY25 Program Admin 206-14-99-99-000-51202- To NSP Program 206-14-99-99-000-57042-1913 PY25/FY26 Homeownership Assist 206-14-99-99-000-57042-1915 PY24/FY25 Homeownership Assist 206-14-99-99-000-57044-1915 PY24/FY25 DIMH Operations 206-14-99-99-000-57045-1914 PY25/FY26 CDHC H of H Renov 206-14-99-99-000-57047-1914 PY25/FY26 CDHC House Hope Ops 206-14-99-99-000-57047-1915 PY24/FY25 House of Hope 206-14-99-99-000-57059-1912 PY23/FY24 MHDC Home Repair 206-14-99-99-000-57059-1915 PY24/FY25 MHDC Emer 55

Item 1. 206-14-99-99-000-57066-1912 PY23/FY24 Milford HousingRehab 206-14-99-99-000-57066-1915 PY24/FY25 MHDC Rehab Total 206 CDBG Fund TOTAL CDBG 56

Item 2. CITY OF DOVER, DELAWARE ACTION FORM PROCEEDING: Council Committee of the Whole (Leg & Fin) DEPARTMENT OF ORIGIN: Finance office SUBMITTED ON: 9/10/2025 PREPARED BY: Patricia Marney, Controller, Treasurer REVIEWED BY: SUBJECT: City of Dover’s Investment Policy TIMETABLE: Review and Approval. RELATED PROJECT: EXHIBITS Exhibit – Investment Policy STAFF RECOMMENDATION: Approve policy with no changes. BACKGROUND AND ANALYSIS: Recommended approval and continuance of existing Investment Policy, last updated December 9, 2024. Change Tracking – See Page(s) 11 and 12 1. Original approval by City Council - November 14, 1988 2. Revised policy approved by City Council - March 7, 2005 3. City Council Approved with No Changes – April 14, 2008 4. Revised policy approved by City Council – July 25, 2011 5. Revised policy approved by City Council – August 12, 2013. 6. Revised policy approved by City Council – September 8, 2014 7. Revised policy approved by City Council – October 10, 2016 8. Revised policy approved by City Council – October 23, 2017 9. City Council Approved with No Changes – December 10, 2018 10. Revised policy approved by City Council – December 9, 2019 LEGEND (Cont.) 11. City Council Approved with No Changes – October 12, 2020 12. City Council Approved with No Changes – October 25, 2021 13. No documented changes in 2022 14. Revised policy approved by City Council – November 14, 2023 15. Presented to City Council for approval – December 9, 2024 16. Presented to City Council for approval – September 23, 2025 57

Item 2. City of Dover, DE Investment Policy Statement Dated December 9, 2024September 23, 2025 58

Item 2. 1.0 Governing Authority It is the policy of the City of Dover to invest public funds under its control in a manner that will provide the highest investment return consistent with the maximum safety of principal, while meeting cash flow needs of the City. The investment program shall conform to all state and local statutes governing the investment of public funds. 2.0 Scope This Investment Policy Statement (the “Policy”) applies to all financial assets of the City of Dover for which the City retains direct or indirect daily control. Funds for which the City has retained outside fund manager(s) shall also be governed by this Policy or, in the case of bond proceeds, related governing bond documents. 2.1 Accounts 2.1.1 Cash and Liquidity Accounts: The majority of the City’s cash balance available for investment is maintained in the cash and liquidity accounts. These accounts will be managed and invested by investment managers, selected by the City Council through competitive bid, in order to maximize the return to the City while, at the same time, providing for safety of principal and sufficient liquidity for the City to meet its cash needs. The City will manage its short-term investments to ensure sufficient liquidity and prevent their premature sale for the purpose of covering expenditures. Short-term investments should mature at face value in sufficient amounts to meet any liquidity needs. 2.1.2 Reserve Cash (Intermediate) Account: To the extent cash is not expected to be needed on short notice, the City shall invest such funds in the Reserve Cash Account. This fund shall be managed and invested by an investment manager or managers, selected by the City Council after a competitive bid, in order to maximize the return on said money to the City while providing for the safety of principal. All of the City of Dover’s funds are accounted for in its Annual Comprehensive Financial Report. Those funds to which this Policy applies include (excluding the Deferred Compensation Plan, Pension and OPEB Trusts): 2.2 Funds 2.2.1 General Fund 2.2.2 Capital Project Funds 2.2.3 Special Revenue Funds 2.2.4 Enterprise Funds 2.2.5 Internal Service Funds 2.2.6 Any new fund created by the City Council, unless specifically exempted 3.0 Objectives The primary objectives of the City of Dover’s investment activities, in order of importance shall be: Investment Policy Page 2 of 17 59

Item 2. 3.1 Safety Preservation of principal is the foremost objective of the investment program. To attain this objective, funds shall be diversified among securities of high credit quality and liquidity, so that risk of loss of principal is minimized. 3.2 Liquidity The City’s investments shall be made for such periods as to enable the City to meet all operating requirements that may be scheduled or reasonably anticipated. 3.3 Return on Investments A goal of the investment program shall be to maximize investment return within the constraints of Sections 3.1 and 3.2. 4.0 Delegation of Authority Authority to manage the City of Dover’s investment program is derived from this Policy, which is approved by City Council, and “Dover Code, PART I, Subpart A, Article II, Section 17" (attachment B) which states in part that “The Controller/Treasurer shall be the custodian of all of the City funds.” The City’s Controller/Treasurer shall: 1) Review this Policy annually and recommend changes, if any, to City Council; 2) Be charged with implementing the Policy, and may delegate authority to make investments to an investment advisor. The Controller/Treasurer shall be responsible for all investment transactions and shall establish controls to regulate the activities of the investment advisor, if any. 3) Ensure that records of the City’s investment activities are kept for three years; successful audit. 5.0 Prudence, Ethics and Conflicts of Interest Any official of the City or investment advisor/manager empowered to make investments on behalf of the City of Dover shall comply with the following: 5.1 “Prudent Person” Rule Investment decisions shall be made with the judgment and care which persons of reasonable intelligence, under circumstances prevailing at the time the investment is made, would exercise in the management of their own investments assuming that their objectives are those shown in Section 3.0 of this policy. 5.2 Ethics and Conflict of Interest The delegate authorized to make City investments shall act at all times in an ethical manner, and shall not engage in activity that could impair or be perceived to impair their ability to make impartial investment decisions. They shall disclose to the Mayor and City Council any material interests in financial institutions with which the City has financial dealings, and which may be related to the performance of the investment program. Employees and officers shall refrain from undertaking personal investment transactions with the same individual(s) with whom business is conducted on behalf of the City. Investment Policy Page 3 of 17 60

Item 2. 6.0 Authorized Institutions and Dealers All broker/dealers that desire to become qualified for investment transactions with the City shall meet the following: 1. Primary dealers and regional dealers that qualify under Securities and Exchange Commission Rule 15C3-1 (uniform net capital rule) 2. Capital of at least $25,000,000 or capital of $5,000,000 for firms incorporated in the State of Delaware 3. Registered as a dealer under the Securities Exchange Act of 1934 4. Member of the Financial Industry Regulatory Authority (FINRA) 5. Registered to sell securities in the State of Delaware 6. Engaged in the business of effecting transactions in U.S. government, federal agency, and corporate securities for at least five (5) consecutive years To the extent the City utilizes the services of an outside Investment Advisor, it shall be the responsibility of the Investment Advisor to maintain an approved list of brokers. 7.0 Safekeeping and Custody To ensure that securities are deposited in an eligible financial institution prior to the release of funds, all trades of marketable securities will be executed by delivery vs. payment (“DVP”). Further, all securities will be held by an independent third-party custodian, in the name of the City, and evidenced by safekeeping receipts in the City’s name. The custodian shall provide daily confirmation of held securities as well as a monthly transactions and holdings report. 8.0 Authorized Investments and Trading of Securities The Controller/Treasurer or authorized delegate may invest only in the types of securities listed below. The maximum stated maturity of any security shall be limited to 10 years at settlement, unless otherwise stated. The maximum average maturity of the portfolio shall be seven years. For asset backed and Agency mortgage backed securities, the maximum maturity shall be defined as the weighted average life (“WAL”). WAL is a convention that estimates the expected weighted amount of time, in years, for the principal amount of an issue to be fully paid. For Agency mortgage backed securities, WAL shall be limited to 10 years, measured at the settlement date, provided by Bloomberg Financial Markets. For asset backed securities, the average life must not exceed two years, except for such securities that are subject to periodic reset of coupon or interest rate - - these may have an average life not to exceed three years. 8.1 United States Government Securities Marketable securities issued by the U.S. Government and supported by the full faith and credit of the U. S. Treasury either by statue or an opinion of the attorney general of the United States. The maximum maturity shall be limited to 10 years. Up to 100% of the portfolio may be invested in this sector. 8.2 Government Agency Securities Debt securities issued by government-sponsored enterprises (“GSE”), federal agencies, federal financing banks, and instrumentalities of the U.S. Government. Investment Policy Page 4 of 17 61

Item 2. The maximum maturity shall be limited to 10 years. Up to 50% of the portfolio may be invested in this sector, with a maximum of 20% in any one issuer. 8.3 Certificates of Deposit and Time Deposits 8.3.1 Domestic Institutions: Issued or endorsed by a domestic bank, or a savings and loan association, organized and supervised under the laws of the United States and denominated in U.S. dollars; provided, however, that deposits are fully insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”). If not insured by the FDIC: ➢ The banking institution must have assets of not less than $5 billion; and ➢ Issuers must have a short-term rating in the highest category by Standard & Poor’s, Moody’s, or Fitch and a long-term rating of at least the “A” category by Standard & Poor’s, Moody’s, or Fitch by at least two NRSROs. The maximum maturity of any investment in this sector shall be limited to 10 years at trade settlement. This sector shall not exceed 50% of the total portfolio. No single issuer shall exceed 5% of the City’s portfolio. 8.3.2 Delaware-Domiciled Institutions: Issued by or endorsed by any bank or savings association domiciled in the State of Delaware and organized and supervised under federal or State of Delaware banking laws which does not meet the requirements of Section 8.3.1 hereto; provided, however, that: ➢ For each of the latest two years, the bank or association has had a return on total average assets of 0.50% or greater and an average capital ratio (defined as total equity capital to total assets) of at least 1 to 20, or the instrument is secured as set forth in Section 9, “Collateralization of City Deposits,” hereto; and ➢ Not more than the lesser of $10 million or 25% of an issuer’s total equity capital, may be invested in any one issuer. (Investments due to mature in one business day may be excluded from the computation of this percentage.) ➢ The Board expressly affirms that, consistent with these guidelines, Delaware banks and savings associations should be considered as a source of investment. ➢ The maximum stated maturity of any investment in this sector shall be limited to 10 years at time of purchase. This sector shall not exceed 20% of the total portfolio. No single issuer shall exceed 5% of the City’s portfolio. 8.4 Corporate Debt Instruments Such instruments include commercial paper bankers’ acceptances, and non- convertible senior debt securities (bonds and debentures). 8.4.1 Corporate securities must be denominated/issued in US dollars. Many foreign corporations issue debt/securities in the US market, in US dollars. Investment Policy Page 5 of 17 62

Item 2. 8.4.2 No single issuer shall exceed 5% of the City’s portfolio. 8.4.3 Commercial Paper shall be limited to a final maturity of 270 days. This sector shall not exceed 25% of the total portfolio. Issuers shall be rated in the highest short-term category by Standard & Poor’s, Moody’s, or Fitch by at least two NRSROs. 8.4.4. Bankers’ Acceptances shall be limited to a final maturity of 365 days. This sector shall not exceed 25% of the City’s Portfolio. Issuers shall be rated in the highest short-term rating by Standard & Poor’s, Moody’s, or Fitch by at least two NRSROs. 8.4.5 Corporate bonds and debentures shall be limited to a final maturity of 10 years. This sector shall not exceed 50% of the total portfolio. Issuers shall hold a long-term rating of at least the “A” category by Standard & Poor’s, Moody’s, or Fitch by at least two NRSROs. 8.5 Repurchase Agreements The underlying collateral shall consist of U.S. government and/or GSE securities provided, however, that: 8.5.1 All repurchase agreements must be governed by a written master repurchase agreement; 8.5.2 Agreements will be entered into only with respect to underlying securities in which the investment manager may otherwise invest as described above, and only with a recognized U.S. Government/broker or a bank which meets the requirements set out under paragraph Section 8.3.1 or 8.3.2 above; 8.5.3 In the case of repurchase collateral held in book-entry form in the Federal Reserve System, all deliveries of securities must be made, for the transfer thereof, through the Federal Reserve book-entry system to the account designated by the investment manager for such purpose. Securities held in certificated form must be delivered to the investment manager or a custodian as directed by the investment manager. 8.5.4 Any collateral employed under this paragraph shall be counted towards the applicable maximum limits set forth within these guidelines for such type of investment, and such collateral shall be valued at market at not less than 103 percent of the maturity value of the agreement and marked-to-the-market as requested by the investment manager. 8.5.5 Repurchase agreements shall be limited to a maximum maturity of 90 days from date of purchase. This sector shall not exceed 50% of the total portfolio. No single issuer shall exceed 25% of the City’s portfolio. 8.6 Registered Investment Companies (Money Market Funds) No single fund shall exceed 25% of the City’s portfolio. Money market funds shall be rated AAA by Standard & Poor’s. A current prospectus must be obtained before investing in any money market fund, and current holdings reports must be maintained at least each month. 8.7 Mortgage-Backed Securities Mortgage-backed securities issued by the following: Government National Investment Policy Page 6 of 17 63

Item 2. Mortgage Association (GNMA), Federal National Mortgage Association (FNMA) or Federal Home Loan Mortgage Association (FHLMC). This sector, combined with the asset backed security sector, shall not exceed 10% of the total portfolio. 8.8 Asset Backed Securities These investments include auto loan receivables, credit card receivables, home equity loans, and manufactured housing loans. These can be fixed or floating rate and must be rated in the highest long-term category by Standard & Poor’s, Moody’s, or Fitch by at least two NRSROs. Average life of the security should not exceed two years from the date of settlement. This sector, combined with the mortgage-backed security sector, shall not exceed 10% of the City’s portfolio. No single issuer shall exceed 5% of the City’s portfolio. 8.9 Municipal Obligations Taxable and tax-exempt securities issued by state and local governments and public authorities in the United States. The maximum stated maturity of any investment in this sector shall be limited to 10 years at time of purchase. This sector shall not exceed 20% of the City’s portfolio. No single issuer shall exceed 5% of the City’s portfolio. Issuers shall be rated in at least the “A” category by Standard & Poor’s, Moody’s, or Fitch by at least two NRSROs. Additionally, Issuers in the short term market (under one year) shall be rated at a minimum of “mig-1”, “f1” or “sp-1” for Moody’s, Fitch and Standard &Poor’s by at least two NRSROs. 8.10 State of Delaware Investments Pool 8.10.1 Delaware Local Government Investment Pool (DELGIP) -The investment in this pool is permitted in relation to the City's cash flow and the guidelines set forth by the State of Delaware. The investment in this pool will not exceed 25% of the total funds available and will be monitored by the City's Finance Department on a monthly basis. 8.10.2 Delaware Local Government Retirement Investment Pool (DELRIP) The investment in this pool is permitted in relation to the City's Post-Retirement Benefits Fund. The investment in this pool will not exceed 25% of the total funds available and will be monitored by the City's Finance Department on a monthly basis. 8.11 Trading Securities The Controller/Treasurer is hereby authorized to sell securities prior to their stated maturity date in the following circumstances: 1. A security with declining credit may be sold prior to its maturity to minimize loss of principal; 2. A security swap may be executed if it would improve the quality, yield, or target duration of the portfolio; 3. Securities may be sold to provide needed liquidity. 8.12 Internal Control on such transactions 8.12.1 An investment report will be provided to the City on a quarterly basis. 8.12.2 All investment reporting documents will be provided to the independent auditors. 8.12.3 Investment records will be kept by the City for three (3) years; successful Investment Policy Page 7 of 17 64

Item 2. audit. 8.12.4 The trading shall not involve any hedge, derivatives and/or borrowing funds for trading purposes. Investment Policy Page 8 of 17 65

Item 2. A summary of permitted investments is below: Investment Sector Issuer Maturity Credit Quality Type Limit Limit Limit Minimum United States Government 100% 100% 10 Years N/A Securities Government Agency 50% 20% 10 Years N/A Securities Mortgage-Backed Securities N/A 10 Year WAL N/A Combined 10% limit Highest long-term rating by Fitch, Asset Backed Securities 5% 2 Year WAL Moody's or S&P by at least two NRSROs Long-term rating of at least “A” by S&P, Moody’s, or Fitch For issuers in short Municipal Obligations 20% 5% 10 Years term market, rating of at least “mig-1”, “ f1” or “sp-1” for Moody’s, Fitch and S&P FDIC-Insured Deposits 25% 5% 10 Years N/A Highest short-term rating by Fitch, Moody's or S&P. Certificates of Deposit and Long-term rating of at Time Deposits (not insured 50% 5% 10 Years least “A” by S&P, by FDIC) Moody’s, or Fitch, rated by at least two NRSROs Delaware-Domiciled 20% 5% 10 Years N/A Institutions Highest short-term rating by Fitch, Commercial Paper 25% 5% 270 Days Moody's or S&P by at least two NRSROs Highest short-term rating by Fitch, Bankers’ Acceptances 25% 5% 365 Days Moody's or S&P by at least two NRSROs Long-term rating of at Corporate Bonds and least “A” by S&P, 50% 5% 10 Years Debentures Moody’s, or Fitch by at least two NRSROs Repurchase Agreements 50% 25% 90 days N/A Registered Investment Companies (Money Market 100% 25% N/A AAAm by S&P Funds) Delaware Local Government 25% N/A N/A N/A Investment Pool Investment Policy Page 9 of 17 66

Item 2. Delaware Local Government 25% N/A N/A N/A Retirement Investment Pool 9.0 Collateralization of City Deposits If the City deposits funds in any financial institution, those funds will be subject to the following collateralization requirements. The financial institution shall: 9.1 Collateralize the City’s daily ledger balance(s) if, for any quarter during the most recent eight quarters the bank has not met both of the following two criteria: ➢ Return on total average assets of 0.50 percent or greater. ➢ Average capital ratio (total equity to total assets) of 5.00 percent or greater. 9.2 If either criterion in paragraph 9.1 is not satisfied collateral must be pledged and shall consist of one or more of the following securities: ➢ U.S. Government securities ➢ U.S. Government agency securities ➢ Federal Home Loan Board letters of credit ➢ State of Delaware securities ➢ Mortgage backed securities as referenced in Section 8.7 ➢ Securities of a political subdivision of the State of Delaware with a Moody’s rating of “A” or better 9.3 Ensure that the securities pledged as collateral (except for Federal Home Loan Board letters of credit) have a market value equal to or greater than 102 percent of the ledger balance(s) in the account(s) marked to market each day. 9.4 Ensure that securities pledged as collateral are housed at the Federal Reserve Bank or a mutually agreed upon third party depository. (The trust department of the winning vendor will not be acceptable.) 9.5 Provide reports on a monthly basis to the City Finance Department detailing the collateral pledged. 9.6 Provide a Call Report (Consolidated Report of Condition and Income, FFIEC 031) on a quarterly basis to the City Finance Department. 10.0 Policy Considerations If securities owned by the City are downgraded by either Standard & Poor’s, Fitch or Moody’s to a level below the quality required by this Policy, it shall be the City’s policy to review the credit situation and make a determination as to whether to sell or retain such securities in the portfolio. If a security is downgraded two grades below the level required by the Policy, the security shall be sold immediately. If a security is downgraded one grade below the level required by this Policy and matures Investment Policy Page 10 of 17 67

Item 2. within 6 months, the security may be held to maturity. The Controller/Treasurer may determine to sell the security if it is determined that there is a probability of default prior to maturity. If a decision is made to retain a downgraded security in the portfolio, its presence in the portfolio will be monitored and reported monthly to the Controller/Treasurer. 11.0 Internal Controls The Controller/Treasurer is responsible for establishing and maintaining an internal control structure designed to ensure that the assets of the City are protected from loss, theft, or misuse. The Controller/Treasurer shall also establish a process for an annual independent review by an external auditor to assure compliance with policies and procedures. The internal controls shall address the following: ➢ Control of collusion ➢ Separation of transaction authority from accounting and recordkeeping ➢ Custodial safekeeping ➢ Prohibition of physical delivery securities ➢ Clear, written delegation of authority to subordinate staff members ➢ Written confirmation of transactions for investments and wire transfers 12.0 Performance Standards The City of Dover’s investment decisions shall be made with the objective of obtaining a rate of return commensurate with the investment risk constraints and the cash flow needs. On a quarterly basis, the Controller/Treasurer shall compare the City’s portfolio against the Merrill Lynch 0-5 Year U.S. Treasury Index, in terms of time-weighted total return and average duration for the period under review. 13.0 Reporting At the end of each fiscal year, the Controller/Treasurer will include in the Annual Comprehensive Financial report the following: ➢ Listing of individual securities held as of last day of reporting period, grouped by sector ➢ Par, market, and amortized cost values of each security ➢ Coupon, current yield, and final stated maturity date of each security 14.0 Investment Policy Adoption The City of Dover’s investment policy will be adopted by the City Council after review and recommendation of the Legislative and Finance Committee. The policy will be reviewed at least once every year by the Legislative and Finance Committee, which is charged with considering the existing policy and any recommendations to modify the policy. Any modifications to the policy must be approved by the City Council. LEGEND 1. Original approval by City Council - November 14, 1988 2. Revised policy approved by City Council - March 7, 2005 3. City Council Approved with No Changes – April 14, 2008 4. Revised policy approved by City Council – July 25, 2011 Investment Policy Page 11 of 17 68

Item 2. 5. Revised policy approved by City Council – August 12, 2013. 6. Revised policy approved by City Council – September 8, 2014 7. Revised policy approved by City Council – October 10, 2016 8. Revised policy approved by City Council – October 23, 2017 9. City Council Approved with No Changes – December 10, 2018 10. Revised policy approved by City Council – December 9, 2019 LEGEND (Cont.) 11. City Council Approved with No Changes – October 12, 2020 12. City Council Approved with No Changes – October 25, 2021 13. No documented changes in 2022 14. Revised policy approved by City Council – November 14, 2023 15. Presented to City Council for approval – December 9, 2024 Investment Policy Page 12 of 17 69

Item 2. ATTACHMENT A GLOSSARY AGENCIES: Federal agency securities, otherwise known as “Government Sponsored Enterprises.” CERTIFICATE OF DEPOSIT (CD): A time deposit with a specific maturity evidenced by a certificate. Large denomination CD's are typically negotiable. BANKERS ACCEPTANCE: A short-term credit investment which is created by a non- financial firm and whose payment is guaranteed by a bank. COLLATERAL: Securities, evidence of deposit or other property which a borrower pledges to secure repayment of a loan. Also refers to securities pledged by a bank to secure deposits of public monies. COMMERCIAL PAPER: An unsecured obligation issued by a corporation or bank to finance its short-term credit needs. Maturities typically range from one (1) to 270 days. ANNUAL COMPREHENSIVE FINANCIAL REPORT ( ACFR): The official annual report for the City of Dover. It includes five combined statements for each individual fund and account group prepared in conformity with GAAP. It also includes supporting schedules necessary to demonstrate compliance with finance-related legal and contractual provisions, extensive introductory material, and a detailed Statistical Section. CORPORATE BONDS: A debt security issued by a corporation based in the United States of America. Such bonds usually have a par value of $1,000, have a term maturity, and are traded on a major exchange. DEALER: A dealer, as opposed to a broker, acts as a principal in all transactions, buying and selling for his own account. DIVERSIFICATION: Dividing investment funds among a variety of securities offering independent returns, in an attempt to limit risk. FEDERAL CREDIT AGENCIES: Agencies of the Federal government set up to supply credit to various classes of institutions and individuals, e.g., S&L's, small business firms, students, farmers, farm cooperatives, and exporters. FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC): A federal agency that insures bank deposits, currently up to $250,000 per deposit. FEDERAL FUNDS RATE: The rate of interest at which Fed funds are traded. This rate is currently pegged by the Federal Reserve through open-market operations. Investment Policy Page 13 of 17 70

Item 2. FEDERAL HOME LOAN BANKS (FHLB): The institutions that regulate and lend to savings and loan associations. The Federal Home Loan Banks play a role analogous to that played by the Federal Reserve Banks vis-a-vis member commercial banks. FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA): FNMA, like GNMA was chartered under the Federal National Mortgage Association Act in 1938. FNMA is a federal corporation working under the auspices of the Department of Housing and Urban Development (HUD). It is the largest single provider of residential mortgage funds in the United States. Fannie Mae, as the corporation is called, is a private stockholder-owned corporation. The corporation's purchases include a variety of adjustable mortgages and second loans, in addition to fixed-rate mortgages. FNMA's securities are also highly liquid and are widely accepted. FEDERAL RESERVE SYSTEM: The central bank of the United States created by Congress and consisting of a seven member Board of Governors in Washington, D.C., 12 regional banks and about 5,700 commercial banks that are members of the system. GOVERNMENT NATIONAL MORTGAGE ASSOCIATION (GNMA or Ginnie Mae): Securities influencing the volume of bank credit guaranteed by GNMA and issued by mortgage bankers, commercial banks, savings and loan associations, and other institutions. Security holder is protected by full faith and credit of the U.S. Government. Ginnie Mae securities are backed by the FHA, VA or FMHM mortgages. The term "passthroughs" is often used to describe Ginnie Mae's. LIQUIDITY: A liquid asset is one that can be converted easily and rapidly into cash without a substantial loss of value. In the money market, a security is said to be liquid if the spread between bid and asked prices is narrow and reasonable size can be done at those quotes. LOCAL GOVERNMENT INVESTMENT POOL (LGIP): The aggregate of all funds from political subdivisions that are placed in the custody of the State Treasurer for investment and reinvestment. MARKET VALUE: The price at which a security is trading and could presumable be purchased or sold. MATURITY: The date upon which the principal or stated value of an investment becomes due and payable. MORTGAGE-BACKED SECURITIES (MBS): An investment instrument that represents ownership of, and is backed by, an individual interest in a pool of mortgages such as those issued by Ginnie Mae or Freddie Mac. Principal and interest from the individual mortgages is used to pay principal and interest on the MBS. MUNICIPAL NOTES AND BONDS: Securities issued by a state, city, or local government to finance operations or special projects. NATIONALLY RECOGNIZED STATISTICAL RATINGS ORGANIZATION (NRSRO): A credit rating agency that provides an assessment of the creditworthiness of a firm or financial instrument(s) that is registered and approved by the Securities and Exchange Commission (SEC) Investment Policy Page 14 of 17 71

Item 2. PRUDENT PERSON RULE: An investment standard. In some states the law requires that a fiduciary, such as a trustee, may invest money only in a list of securities selected by the custody state--the so-called legal list. In other states the trustee may invest in a security if it is one which would be bought by a prudent person of discretion and intelligence who is seeking a reasonable income and preservation of capital. QUALIFIED PUBLIC DEPOSITORIES: A financial institution which does not claim exemption from the payment of any sales or compensating use or ad valorem taxes under the laws of this state, which has segregated for the benefit of the commission eligible collateral having a value of not less than its maximum liability and which has been approved by the Public Deposit Protection Commission to hold public deposits. RATE OF RETURN: A measure of worth, either at security or aggregate portfolio level, over a period of time. There are many return conventions, including but not limited to yield to maturity at cost, yield to maturity at market, yield to worst, time weighted total return, dollar weighted total return. REPURCHASE AGREEMENT (RP OR REPO): A holder of securities sells these securities to an investor with an agreement to repurchase them at a fixed price on a fixed date. The security "buyer" in effect lends the "seller" money for the period of the agreement, and the terms of the agreement are structured to compensate him for this. Dealers use RP extensively to finance their positions. Exception: When the Fed is said to be doing RP, it is lending money, that is, increasing bank reserves. REVERSE REPURCHASE AGREEMENT: The purchase of a security by a dealer with the agreement to sell it back to the seller at a fixed price at a later date. Typically used by owners of securities to finance short-term needs without having to liquidate the security. SAFEKEEPING: A service to customers rendered by banks for a fee whereby securities and valuables of all types and descriptions are held in the bank's vaults for protection. TIME DEPOSITS: A savings account or CD held for a fixed term or with the understanding that the customer can withdraw only by giving advanced notice. TREASURY BILLS: A short-term (less than one year) non-interest bearing discount security issued by the U.S. Treasury department to finance the national debt. Most bills are issued to mature in three months, six months, or one year. TREASURY BOND: Long-term U.S. Treasury securities having initial maturities of more than 10 years. TREASURY NOTES: A non-interest bearing discount security issued by the U.S. Treasury to finance the national debt. Most bills are issued to mature in three months, six months or one year. UNIFORM NET CAPITAL RULE: Securities and Exchange Commission requirement that member firms as well as nonmember broker-dealers in securities maintain a maximum ratio of indebtedness to liquid capital of 15 to 1: also called net capital rule and net capital ratio. Investment Policy Page 15 of 17 72

Item 2. Indebtedness covers all money owed to a firm, including margin loans and commitments to purchase securities, one reason new public issues are spread among members of underwriting syndicates. Liquid capital includes cash and assets easily converted into cash. VARIABLE RATE MASTER DEMAND NOTES: A floating rate security with initial maturities and indexed rates chosen by the investor. The interest rate is adjusted periodically, usually off a standard such as that prevailing on a Treasury Bill or the prime interest rate. YIELD: The rate of annual income return on an investment, expressed as a percentage. INCOME YIELD is obtained by dividing the current dollar income by the current market price for the security. NET YIELD or YIELD TO MATURITY is the current income yield minus any premium above par or plus any discount from par in purchase price, with the adjustment spread over the period from the date of purchase to the date of maturity of the bond. Investment Policy Page 16 of 17 73

Item 2. ATTACHMENT B Dover, Delaware, Code of Ordinances >> PART I - CHARTER AND RELATED LAWS PART I - CHARTER AND RELATED LAWS [1] Subpart A - CHARTER PREAMBLE [3] We the people of the City of Dover, under the constitution and laws of the state of Delaware, in order to secure the benefits of local self-government and to provide for an honest and accountable council-manager government, do hereby adopt this charter and confer upon the city the following powers, subject to the following restrictions, and prescribed by the following procedures and governmental structure. By this action, we secure the benefits of home rule and affirm the values of representative democracy, professional management, strong political leadership, citizen participation, and regional cooperation. ARTICLE I. - POWERS OF THE CITY ARTICLE II. - MAYOR AND COUNCIL Sec. 17. - Controller/treasurer. At the annual meeting the council shall elect a controller/treasurer to hold office until the next annual meeting of the council, or until his/her successor has been duly chosen and qualified, but subject to removal at any time by the council. The controller/treasurer shall be the custodian of all the city funds and shall deposit them in a banking institution designated by the council. (Amd. of 7-12-2005 (S.B. 126); Amd. of 7-8-2009 (S.B. 165, § 15)) Investment Policy Page 17 of 17 74