For fiscal year ending June 30, 2022 

Message from the City Manager

I am pleased to present the City of Lee’s Summit’s Popular Annual Financial Report (PAFR) for the fiscal year ending June 30, 2022. The PAFR provides a summary of key financial information, historical trends and other demographic information about Lee’s Summit. The information is derived from the City’s Annual Comprehensive Financial Report, which provides greater detail about the City’s financial performance and includes an independent auditor’s report that was prepared in accordance with Generally Accepted Accounting Principles.

The City of Lee’s Summit is on a remarkable path as it continues to grow and evolve. In September 2022, I was honored to assume the role of city manager of Lee’s Summit. I am excited to continue to build on the City’s past successes and work to set Lee’s Summit apart as a special place to live, work and play.

As you will see in the City’s financial reports, we are focused not only on providing the necessary services our citizens deserve today, but also carefully planning for the future to preserve the long-term financial health of the City. The City has maintained a healthy unassigned General Fund balance, giving the City the financial flexibility to withstand a potential emergency as well as examine one-time funding opportunities. We remain thankful to our residents, our business owners and all those who have helped make Lee’s Summit what it is today.

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 ending June 30, 2022. We appreciate your interest and welcome any questions or comments.  

City Manager, Mark Dunning

Annual Comprehensive Financial Report



City Area: 65.87 Sq. Mi.

Population: 104,638

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 104,638, 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 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




Jackson County Missouri Incorporated and Unincorporated areas Lee's Summit Highlighted

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

Mia Prier
District 1

Hillary Shields
District 1

John Lovell
District 2

Andrew S. Felker
District 2

Phyllis Q. Edson
District 3

Beto Lopez
Mayor Pro Tem/District 3

Fred DeMoro
District 4

Faith Hodges
District 4



*City Employees


Park Facilities




Water Main Miles


Police Calls


Fire Calls


Centerline Miles


*Workforce, or employee counts, is defined as a ratio of full-time equivalents (FTE) where one full-time employee is estimated to work 2,080 hours annually or 2,912 hours for certain Fire Department personal.

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 City’s unassigned fund balance for the General Fund increased to $45,168,109 in fiscal year 2022.

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 $86,968,337 $14,886,428 $11,236,868 $9,713 $28,767,596 $141,868,942
Total Expenditures ($75,021,949) ($11,398,621) ($11,051,958) ($1,250) ($27,516,690) $124,990,468
Other Financing Sources  $2,306,587  ($4,180,000) - - $4,443,575 $2,570,162
Net Change in Fund Balances $14,252,975 ($692,193) $184,910 $8,463 $5,694,481 $19,448,636
Fund Balances $48,284,598 $12,601,142 $37,984,670 ($3,705,009) $45,264,597 $140,429,998


In the 2022 fiscal year, the City's sales tax rate was 7.85%, 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.

Beginning in the 2023 fiscal year, the City of Lee’s Summit will begin collecting an additional half-cent Public Safety Sales Tax, which was approved by voters in April 2022. The Public Safety Sales Tax will provide support for law enforcement, fire protection, emergency responses and other public safety services. The additional half-cent Public Safety Sales Tax will raise the City’s sales tax rate to 8.35%.

The City also has a use tax, which is applied instead of a local sales tax on goods purchased from certain online and out-of-state sellers for delivery and use in Lee’s Summit. The use tax rate is the same as the sales tax rate of 2.25%, which will increase to 2.75% in the 2023 fiscal year as a result of the voter-approved Public Safety Sales Tax.


  • 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 City of Lee’s Summit has received the Government Finance Officers Association (GFOA) award for Outstanding Achievement in Popular Financial Reporting for the Popular Annual Financial Report (PAFR) for two consecutive years.

  • The City of Lee’s Summit has received the GFOA Certificate of Achievement for Excellence in Financial Reporting for 44 consecutive years.

The City currently has $33,570,000 in outstanding General Obligation bonds. The City refinanced its 2013A General Obligation Bonds in fiscal year 2022, saving $1,116,842 million in debt service.  

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. It provides details on all assets, including capital assets, along will all liabilities, including long-term liabilities such as bonds. The difference between all the City’s assets and liabilities is the net position. The City's net position increased to $1.07 billion in fiscal year 2022 from $999.8 million in fiscal year 2021. 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.


Property Tax Levy

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

General Fund $0.9119
Parks & Recreation $0.1383
Debt Service $0.3697
Total Tax Levy $1.4199

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 (39%) for the fiscal year ending June 30, 2022. The second largest governmental revenue source was property taxes (31%) followed by Motor Vehicle Tax, Franchise Tax and then other taxes comprised the rest of the City’s revenue.




The City is making progress on its Downtown Market Plaza redevelopment project in downtown Lee’s Summit. The City is working with LANE4 Property Group as the master developer, GLMV as the master architect and Biederman Redevelopment Ventures as the manager. This transformative project is expected to include a farmers market, conservatory, outdoor performance and festival area and pedestrian areas. One completed, the Downtown Market Plaza will make downtown Lee’s Summit a destination spot, attracting visitors from throughout the region.

Downtown Market Plaza


Lee’s Summit voters showed their commitment to public safety, overwhelmingly approving a new public safety sales tax in 2022. The half-cent public safety sales tax is expected to generate more than $10 million annually to support services necessary to meet the needs of the community. The City is also expecting to complete construction on two new fire facilities – Fire Station No. 4 and Fire Station No. 5 – in late 2023 and recently opened the new Fire Station No. 3 in 2020.

Public Safety Sales Tax


The City is experiencing substantial growth, with new developments being built throughout Lee’s Summit. That growth is expected to continue with the decision of Property Reserve Inc. to develop 4,200 acres of property not previously available to the market. The land is in two tracts – 1,100 acres in the northern portion of the city and 3,100 acres in the southern portion of the city. Development is expected to occur slowly over the next 20 years and open exciting new opportunities for Lee’s Summit. 



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.