For fiscal year ending June 30, 2021 

Message from the City Manager

Dear Lee’s Summit Residents,

I am pleased to present the City of Lee’s Summit’s Popular Annual Financial Report (PAFR) for the fiscal year ended June 30, 2021. The purpose of the PAFR is to provide a financial report that summarizes key financial information and historical trends. All information contained in this report is derived from the City’s Annual Comprehensive Financial Report, which goes into further detail about the City’s financial performance and includes an independent auditor’s report that was prepared in accordance with Generally Accepted Accounting Principles (GAAP). 

We are committed to preserving the City’s long-term financial health through sound management policies and insightful planning. This is evident in the City’s response to the COVID-19 pandemic. With the uncertainty surrounding the pandemic, the City cut expenditures where possible while continuing to deliver exceptional service to our citizens. We are also grateful to our citizens who continued to support local businesses, resulting in an increase in our sales and use taxes. Thanks to the support of our citizens and sound fiscal management, the City was able to increase its General Fund balance to $34,031,623, providing flexibility to cover unexpected emergencies and avoid changes and reductions in service level.

To the best of our knowledge, the information contained herein is accurate in all material respects and presents the financial position and results of operations for the fiscal year ended June 30, 2021. We appreciate your interest and welcome any questions or comments.

Yours Truly,

Stephen A. Arbo
City Manager

Annual Comprehensive Financial Report



City Area: 65.87 Sq. Mi.

Population: 101,108

Sixth-Largest City in Missouri

Government: Charter

Regional Lakes: Longview Lake, Lake Jacomo and Blue Springs Reservoir

Visit Lee's Summit on Google Maps

Lee's Summit, Missouri, with a current population of 101,108, has been one of the fastest growing communities in Missouri over the past decades. It’s located in eastern Jackson County extending south into Cass County and is a suburban community in the Greater Kansas City metropolitan area. The City encompasses a geographic area of 65.87 square miles served by I-470, US 50, M-291 and M-150 highways with convenient access to the metropolitan area commerce, employment, services and recreational opportunities.

Founded in 1865, Lee’s Summit is one of the largest cities in Missouri. The City’s exceptional services and amenities have helped it receive regional and national recognition. Lee’s Summit has been named a “Community for All Ages” and a “Walk and Bicycle Friendly Community.” The City has also received the “SolSmart Gold” designation for advancing solar energy growth. Lee’s Summit holds four national level accreditations for its Fire, Parks & Recreation, Police and Public Works services.





High School 


Some College or
Degree or Higher


Bachelor's Degree
or Higher


Public School







Lee’s Summit is a charter form of government, represented by a mayor and a city council. Each of the four districts are represented by two councilmembers whose terms are staggered and expire every four years. No councilmember may serve more than two consecutive terms.

Bill Baird

Diane Forte
District 1

Hillary Shields
District 1

Trish Carlyle
District 2

Andrew S. Felker
District 2

Phyllis Q. Edson
District 3

Beto Lopez
Mayor Pro Tem/District 3

Fred DeMoro
District 4

Bob Johnson
District 4




john knox village sign


City Employees


Park Facilities




Water Main Miles


Police Calls


Fire Calls


Centerline Miles



  • The City of Lee's Summit earned the highest rating possible on general obligation bonds (Aaa) from Moody's Investors Services. This reflects a strong fiscal position and manageable debt levels.
  • The Government Finance Officers Association (GFOA) awarded the City for Outstanding Achievement in Popular Financial Reporting for the Popular Annual Financial Report (PAFR) for the fiscal year ended June 30, 2020.
  • We received the GFOA Certificate of Achievement for Excellence in Financial Reporting for 43 consecutive years.

The City uses funds to maintain its financial records. A fund is a grouping of related accounts and the City divides these funds into two categories: governmental funds and proprietary funds. The following charts focus on the City’s governmental funds, which finance most governmental functions of the City. The major governmental funds include the General Fund, Debt Service Fund, Capital Improvement Sales Tax Fund, Blue Parkway and Colbern Road CID Fund. The General Fund is the City's primary operating fund, which accounts for all financial resources of the general government. The Debt Service Fund accounts for the payment of principal, interest and fiscal charges on long-term obligations. The Capital Improvement Sales Tax Fund was established to account for road projects related to the renewal of a 1/2 cent sales tax by voters in 2007. The Blue Parkway and Colbern Road CID Fund was established to account for costs associated with infrastructure construction in the Blue Parkway and Colbern Road Community Improvement District (CID). The other governmental funds are considered nonmajor.

Statement of Revenues, Expenditures and Changes in Fund Balance (Governmental Funds)

  General Fund Debt Service Capital Improvement Sales Tax Blue Parkway &
Colbern Road CID
Total Nonmajor Funds Total
Total Revenues $77,696,132 $16,399,353 $10,658,462 $4,046 $32,288,153 $137,046,146
Total Expenditures $71,932,349 $10,313,485 $8,846,570 $1,250 $34,257,084 $125,350,738
Other Financing Sources  ($2,967,295)  ($3,675,000) - - $12,238,704 $5,596,409
Net Change in Fund Balances $2,796,488 $ 2,410,868 $ 1,811,892 $2,796 $10,269,773 $17,291,817
Fund Balances $34,031,623 $13,293,335 $37,799,760 ($3,713,472) $39,570,116.00 $120,981,362


The City's General Obligation bonds have most recently been rated Aaa by Moody's Investors Services and AA+ by Standard and Poors, signaling the financial strength of the City. The strong bond rating allows the City to issue bonds at lower interest rates, reducing borrowing costs.


The Statement of Net Position is the balance sheet of the City and is an important measure of the City's overall financial health. The City's net position increased to $999.8 million in fiscal year 2021 from $964.2 million in fiscal year 2020. The largest portion of the City's net position reflects its investment in capital assets, which are used to provide services to citizens and are not available for future spending.


The City's sales tax rate of 7.85% is divided between the State of Missouri, Missouri State Conservation, Missouri State Parks and Soils, Jackson County, Jackson County - Community Children's Services, Kansas City Zoo and the City of Lee's Summit. The City of Lee's Summit receives 2.25%. Of the 2.25% sales tax, 1% is for the General Fund, 0.50% is for Capital Projects, 0.50% is for Transportation and 0.25% is for Local Parks.

Property Tax Levy

The property tax levy, per $100 assessed valuation, for the City during the fiscal year.

General Fund $0.8384
Parks & Recreation $0.1482
Debt Service $0.4697
Total Tax Levy $1.4563

Revenue and Expense Breakdown (Governmental Funds)

Governmental funds account for the basic services provided by the City, such as public safety, public works, street maintenance, parks and recreation, community development and capital expenditures. This financial information is useful in evaluating the near-term financing needs of the City.



Revenues by Source

Sales and use taxes comprised the City's largest governmental revenue source for the fiscal year ended June 30, 2021. A voter-approved use tax implemented on October 1, 2020 contributed to the increase. The second largest governmental revenue source was property taxes.




The City of Lee’s Summit unveiled an ambitious plan in July 2020 that will reshape the City’s historic downtown corridor. The City entered into a partnership with LANE4 Development Group and Biederman Redevelopment Ventures to develop the Downtown Market Plaza. LANE4 will serve as the master developer for the redevelopment project, while Biederman Redevelopment Ventures will serve as the manager of the project. The Downtown Market Plaza will be a mixed-use development, consisting of a permanent farmers market, conservatory, boutique hotel, mixed-use commercial building, outdoor performance area, apartment complex and courtyard.

Downtown Market Plaza



In order to ensure continued exceptional service and the highest quality of life, the City of Lee’s Summit is always looking to the future. In September 2020, City Council adopted an implementation plan for the City’s updated strategic plan – Ignite. Your Ideas. Our Future. This strategic plan is a long-term vision for the community and provides direction for the organization. The strategic plan identified seven critical success factors in order for the City to continue to thrive. Those critical success factors included strategic economic development; cultural and recreational amenities; community health and wellbeing; City services and infrastructure; strong neighborhoods with housing choice; collaborative relations with education partners; and community engagement. The overall vision of the City is a vibrant community ensuring the finest quality of life for all generations.

Ignite Strategic Plan


Building upon the Ignite Strategic Plan, the City also adopted an updated comprehensive plan in May 2021. The comprehensive plan details a series of goals, policies, actions and standards based on community feedback. It will guide economic development, residential growth and general improvements for the next 20 years. The comprehensive plan was developed around seven essential elements of a successful community: quality of life; strong neighborhoods and housing choice; resilient economy; multimodal transportation; facilities and infrastructure; sustainable environment; and land use and community design.

Ignite Comprehensive Plan



Thank you for taking the time to learn about the City of Lee's Summit’s financial position. If you have comments or suggestions on how we can improve the PAFR, please contact Finance at FinanceDept@cityofLS.net or 816.969.1100.