HomeMy WebLinkAbout10.21.2026 Telecom Board Agenda
BOARD
MEMBERS
Andrew
Van Fleet
Board Chair
Theodore
Batemon
Ritch
Kurtenbach
Mike
Young
Amy
Wienands
City Council
Liaison:
Steve
Schmitt
October 21, 2026
City Council Chambers
Waterloo City Hall
4:00 p.m.
1. Roll call.
2. Approval of the agenda, as presented.
3. Approval of the minutes of September 28, 2026, special session, as presented.
4. Resolution No. 2026-17 approving payment of bills for September 2026.
5. Resolution No. 2026-18 fixing date for a meeting on the authorization of a loan
agreement and the issuance of not to exceed $4,000,000.00 taxable
communications utility revenue capital loan notes, and providing for publication of
notice thereof.
6. Resolution No. 2026-19 setting date of public hearing as November 18, 2026, to
adopt the Calendar Year 2027 budget, and providing for publication of notice
thereof.
7. Motion to receive and place on file the Calendar Year 2025 audit.
8. Resolution No. 2026-20 approving a revised internet rate sheet.
9. Update from general manager and consultants.
10. Closed session pursuant to Iowa Code Section 388.9(1) to discuss marketing and
pricing strategies or proprietary information if its competitive position would be
harmed by public disclosure not required of potential or actual competitors, and if
no public purpose would be served by such disclosure.
11. Adjourn
Kelley Felchle
Board Secretary
WATERLOO
Telecommunications Utility Board of Trustees
TELECOMMUNICATIONS UTILITY
BOARD OF TRUSTEES
City Clerk’s Office
September 28, 2026
1:00 p.m.
1. Members present: Mr. Batemon, Mr. Kurtenbach, Mr. Young. Ms. Wienands arrived at
1:04p.m. Absent: Mr. Van Fleet.
2. Moved by Young seconded by Batemon that the agenda as proposed, be approved.
Voice vote-Ayes: Three. Motion carried.
3. Moved by Batemon seconded by Young that the meeting minutes of September 16,
2026, as presented, be approved. Voice vote-Ayes: Three. Motion carried.
4. Moved by Young seconded by Batemon that, Resolution No. 2026-15, approving
authorizing official banking signatures, be adopted. Roll Call vote-Ayes: Three. Motion
carried.
Kelley Felche, Board Secretary, verified that the signers are Andrew Van Fleet, Doug
Anderson, Kelley Felchle, and Robert Houlihan.
5. Moved by Young seconded by Wienands that, Resolution 2026-16, approving a point-
to-point rate list, be adopted. Roll call vote-Ayes: Four. Motion carried.
Ben Stineman, Fuse Technic, provided an overview of the rate list.
Mr. Kurtenbach requested clarification if Waterloo Fiber uses their own fiber for point-
to-point work.
Ben Stineman stated they would be using existing ONTs.
Rob Houlihan, CEO and General Manager, stated they used this service at CFU and it
was a success.
Mr. Kurtenbach questioned if this expense would show as a separate line item for
revenue.
Rob Houlihan confirmed.
6. Moved by Young seconded by Batemon for a motion to approve a Right-Of-Way
Agreement with the City of Waterloo.
Rob Houlihan, CEO and General Manager, stated his primary concern with this
agreement is the annual renegotiation fee. He expressed a preference for establishing
a set fee for the duration of the contract. He also stated that, after three to four years,
the organization would have sufficient funds to potentially undertake the project
independently.
Page 2
Mr. Kurtenbach asked why an additional conduit is being installed adjacent to the
existing conduit cross 6th Street.
Mr. Young provided an explanation of the negotiations between Waterloo Fiber and the
City of Waterloo.
Rob Houlihan stated that he would like to see additional financial information regarding
the agreement. He also noted that he was aware of plans for the city to remodel the 6th
Street bridge, which could potentially disturb the existing conduit in that location. He
suggested that relocating the future conduit installation to the Park Avenue bridge may
be a more suitable option.
Kelley Felchle, Board Secretary, expressed her concerns with moving forward with the
agreement, as it could cause a financial obligation for the organization in the future.
Mr. Kurtenbach questioned whether the agreement must be in place for construction to
continue and for service to be provided to the areas covered under the agreement.
Kelley Felchle explained that this agreement and the construction agreement are
separate and that ITG has an end-of-year deadline to finish construction otherwise they
could face a financial penalty. She suggested possibly tabling the agreement.
Mr. Batemon asked Rob Houlihan if he could provide an estimated cost for the
organization to construct the conduit independently.
Rob Houlihan stated that he will consult with Ian Crowther-Green, Outside Plant
Engineer & Technician Supervisor, and attempt to obtain the requested figures.
Moved by Young seconded by Wienands for a motion to table this agreement. Voice
vote-Ayes: Four. Motion carried.
7. Update from General Manager and consultants.
Rob Houlihan, CEO and General Manager, stated that he had a productive first week
with the company and had been meeting with staff to gain an overview of the
organization’s operations.
8. Adjourn.
With no further business before the board, it was moved by Young seconded by
Batemon that the meeting be adjourned at 1:24 p.m. Voice vote-Ayes: Four. Motion
carried.
Page 3
Kelley Felchle
Board Secretary
SEPTEMBER 2026 CAPITAL EXPENSE
EN ENGINEERING, LLC PROJECT MANAGEMENT AND SUPPORT 57,772.18$
ITG COMMUNICATIONS, LLC FIBER INSTALLATION 242,866.43$
CPO �A L
PAS OAT(if
9/11/2026
ITG COMMUNICATIONS, LLC
PC49208222026WLD
$ 24,986.50
ITG COMMUNICATIONS, LLC
PC48709012026
$ 2,666.92
ITG COMMUNICATIONS, LLC
PC49209012026
$ 2,194.00
ITG COMMUNICATIONS, LLC
PC49208292026WLD
$ 62,263.44
I
gl►I(zC,
)S6 �,jq
�I1112b
$ 92,110.86
ITG Communication LLC
1139 Clark St,
Waterloo IA 50703
61 W75347
accounlerecelvable@14-g.net
BIII To
City OF Watedoo-487
715 Mulberry St
Waterloo , Iowa 50703
Telecommunications Waterloo Fiber
3192910141
yaw (2Ar J,4"
Approved 8 Submitted 9/1I2026
Ship To
City OF Waterloo
NA
Watedoo, Iowa 99999
InvolCe
Customer Dale
Invoice #
09/01/2026
PG48709012026
Due Dale
t0101/2026
Status
Imolced-Pending Approval
Co-Ordlnator
P.O.No.
WA
Protect Category
Work Type
Job
Address
CityRown
State
County
Construction
NIA
Inlemational Paper
Watedoo
IA
50701
Terms
Lead #
Construction ID #
Protect Name
Project No.
International Paper
International Paper
Item
Quantity
Description
U/M
Rate
Amount
LI_45
LI_128
LI_727
LI_130
1556
2
2
8
Installation, Underground Fiber Cable - Including Slack (2ct Fiber)
-->[LF]
Re-enter splice closure -->[EA]
Install New Splice Case & Prep Cable -->[FA]
Splicing, Fusion, Single Fiber —>[EA]
$1.15
$180
$200
$25
$1,789.40
$360.00
$400,00
$200.00
International Paper
Subtotal
$2,749.40
Retalnage hold back (3%)
(- $82.48 )
Sales Tax (0%)
$0,00
Total
$2,666.92
ITG Communications LLC
2400 E Commerical Blvd Suit 1000
Fort Lauderdale FL
515-447.5347
accou nisrecelvable&-t-g.net
Bill To
City of Waterloo 492492
625 Glenwood
Waterloo , Iowa 50703
NA
319-291-0141
Pypro d and submaed 9/1/2026
Ship To
City of Watedoo 492
715 Mulbery St
Watedoo, Iowa 50703
NA
Invoice
Customer Date
Invoice #
09/01/2026
PC49209012026
Due Date
10/0M026
Status
Imdced-Pending Approval
Co-Ordinator
P.O.No,
Project Category
Work Type
Job
Address
City/Town
Steta
County
MDU
-
Hawkeye Towers
Waterloo
IA
50701
Terms
Lead #
Consbucllon ID #
Project Name
Project No.
Hawkeye Towers
Hawkeye Towers
Item
Quantity
Description
U/M
Rate
Amount
LI_PFC
2194
Pull fiber through existing conduit
$1
$2,194.00
Subtotal $2,194.00
Sales Tax (0%) $0,00
Total $2,194,00
ITG Communications LLC Approved s submitted 8/31/2026
2400 E Commerical Blvd Suit 1000 4° C6O6 &f td9
Fort Lauderdale FL
615-447.5347
accounlsrecelvable&+g.net
Bill To
City of Waterloo 492
715 Mulbery St
To
of Watedoo 492
Mulbery St
Invoice
Customer Date
Invoice #
0813112026
PC49208222026WLD
Due Date
2026-0930
Status
Involve
P.O.No.
0
Item
Duan0ty
Descdp0on
Rale
Amount
FSS
39
On Premke Fiber She Survey
60
$2340
EEE
21
Enclosure Entry
115
$2415
FFS
42
Fusion Fiber Spike
34S
$1453.2
RFSP
31
Residential Fiber Single Play
250
$7760
LI_PFC
238
Pull fiber through existing conduit
1
$238
RED
16
Truck Roll W Service Cell
225
$3600
NID
12
Install NID with 314
107
$1284
DBF01
126
Fiber Drop (Direct Bury 12
2.65
$333,9
DBF03
5
Hardscape Bore
11.65
$58.25
DBF01
129
Fiber Drop (Direct Bury 12
2.65
$341.85
DBF03
10
Hardscape Bore
11.65
$116.5
DBFOI
221
Fiber Drop (Direct Bury 12
2.65
$585.65
DBF03
35
Hardscape Bore
11,65
$407,76
DBFOI
275
Fiber Drop (Direct Bury 12
2.65
$728.75
DBF01
272
Fiber Drop (Direct Bury 12
2.65
$720.8
DBF03
9
Hardscape Bore
11.65
$104.85
DBFOI
162
Fiber Drop (Direct Bury 12
2.65
$429.3
AWE
3
Add'Nonal Wireless access point, router, or wireless mesh device
60
$180
LI_PFC
184
Pull fiber through existing conduit
1
$184
LI_PFC
340
Pull fiber through existing conduit
1
$340
DBF01
92
Fiber Drop (Direct Bury 12
2.65
$243.8
DBF03
12
Hardscape Bore
11.65
$139.8
DBF01
87
Fiber Drop (Direct Bury 12
2.65
$230.55
DBF01
72
Fiber Drop (Direct Bury 12
2.65
$190.8
DBF01
132
Fiber Drop (Direct Bury 12
2,65
$349,8
DBF01
83
Fiber Drop (Direct Bury 12
2.05
$219.95
Subtotal
$24986.5
Sales Tax (0.0%)
$0,00
Retainage hold back
$0
Total
$24986.5
ITG Communications LLC
2400 E Commerical Blvd Suit 1000
Fort Lauderdale FL
615d47.5347
accounlemeelvable@l-t-g.net
BIII To
City of Waterloo 492
715 Mulbery St
Waterloo
319-291-0141
P.pproved and submitted 9=028
(�Cr, y.n.
y of Waterloo 492
5 Mulbery St
9-291-0141
InvolCe
Customer Dale
Invoice #
09/08t2026
PC49208292026WLD
Due Data
2026-10-08
Status
Involve
P.O.No.
0
Item
Duenlity
Descrlpllon
Rale
Amount
NID
43
Install NID with 314
107
$4601
DBF0l
240
Fiber Drop (Direct Bury 12
2.05
$636
DBFOi
168
Fiber Drop (Direct Bury 12
2.65
$445.2
EEE
36
Enclosure Entry
115
$4140
FFS
72
Fusion Fiber Splice
34.6
$2491.2
DBF03
40
Hardscape Bore
11.65
$466
DBF01
107
Fiber Drop (Direct Bury 12
2.65
$283.65
DBF03
50
Hardscape Bore
11.65
$582.5
DBF01
563
Fiber Drop (Direct Bury 12
2.65
$1491.95
DBF01
128
Fiber Drop (Direct Bury 12
2.65
$3392
FSS
32
On Premise Fiber Site Survey
60
$1920
DBF03
10
Hardscape Bore
11.65
$116.5
DBF02
30
Fiber Drop Bury(6
7.68
$230.4
FFS
3
Fusion Fiber Spike
34.6
$103.8
RFSP
40
Residential Fiber Single Play
260
$10000
DBF01
262
Fiber Drop (Direct Bury 12
2.65
$667.8
DBF01
139
Fiber Drop (Direct Bury 12
2.65
$368.35
DBF01
150
Fiber Drop (Direct Bury 12
2.65
$397.5
DBF01
246
Fiber Drop (Direct Bury 12
2.65
$651.9
DBF03
20
Hardscape Bore
11.65
$233
DBF01
195
Fiber Drop (Direct Bury 12
2.65
$516.75
DBF03
12
Hards pe Bore
11.65
$139.8
DBFOi
21S
Fiber Drop (Direct Bury 12
2.65
$577.7
DBFOI
160
Fiber Drop (Direct Bury 12
2.65
$424
DBF01
125
Fiber Drop (Direct Bury 12
2.65
$331,26
DBF01
244
Fiber Drop (Direct Bury 12
2.65
$646.6
DBF03
4
Hardscape Bore
11.65
$46.6
DBF01
ISO
Fiber Drop (Direct Bury 12
2.65
$477
DBF03
16
Hardsmpe Bore
11.65
$186.4
DBF01
167
Fiber Drop (Direct Bury 12
2.65
$416.05
DBF01
266
Fiber Drop (Direct Bury 12
2.65
$704.9
DBF01
127
Fiber Drop (Direct Bury 12
2.65
$336.65
DBF03
16
Hardscape Bore
11.65
$1884
DBF01
230
Fiber Drop (Direct Bury 12
2.65
$609.5
DBF01
68
Fiber Drop (Direct Bury 12
2.65
$1802
DBF01
103
Fiber Drop (Direct Bury 12
2.65
$272.95
DBF01
385
Fiber Drop (Direct Bury 12
2.65
$1020.25
DBFOi
116
Fiber Drop (Direct Bury 12
2.65
$307.4
DBFOI
40
Fiber Drop (Direct Bury 12
2.65
$106
DBF03
12
Hardscaps Bore
11.65
$139.8
DBF01
135
Fiber Drop (Direct Bury 12
2.65
$357.75
DBF01
58
Fiber Drop (Direct Bury 12
2.65
$153.7
DBF01
114
Fiber Drop (Direct Bury 12
2.65
$302,1
Duct
210
Fiber Drop (Direct Bury 12
2.65
$556.6
FFS
6
Fusion Fiber Splice
34.6
$207.0
LI_PFC
250
Pull fiber through existing conduit
1
$250
CFSP
1
Coinmerdal Fiber Single Play
300
$300
RSC
6
Truck Roll BF Service Cell
225
$1350
DBF01
124
Fiber Drop (Direct Bury 12
2.05
$328.6
DBF01
120
Fiber Drop (Direct Bury 12
2.65
$318
DBF01
286
Fiber Drop (Direct Bury 12
2.65
$767.9
DBF01
60
Fiber Drop (Direct Bury 12
2.65
$159
DBF01
50
Fiber Drop (Direct Bury 12
2.65
$132.5
OBF01
101
Fiber Drop (Direct Bury 12
2.65
$426.65
DBF01
97
Fiber Drop (Direct Bury 12
2.65
$257.05
1
Install NID with 314
107
$107
110
Pull fiber through existing conduit
1
$110
1
Additional Wireless amess point, router, or wireless mesh devke
60
$60
4
Install i&dil Drop Vault
150
$600
12
Install NO with 314
107
$1284
40
Hardscape Bore
11.65
$466
2023
Fiber Drop Bury (6
7,68
$155361
Sales Tex ((
Relainage hold
REFERENCE NUMBER
TRANSACTION STATUS
TRANSACTION DESCRIPTION
ENTERED BY
AMOUNT
FROM
TRADE DATE
SETTLE DATE
COMMENTS
I
IOWR PUBLIC AGENCY INVESTMENT TRUST
Transaction Receipt
12872445
Processing
Online ACH Redemption
Douglas Anderson
$92,110.86
Waterloo Fiber -Bond Proceeds (IA02-91161-0202) -
Diversified
ACH - ID: 77787 - FBO: *******090 -Institution: Lincoln
Savings Bank - Waterloo - OBI: Telecommunications Utility
Generated: 09/10/2026 8:22 AM
This is an official transaction receipt. Please retain for your records.
09/11/2026
09/11/2026
9.11.26 capital check run
09/10/2026 08:22:44 AM _ 1 / 1
ITG COMMUNICATIONS, LLC
09/11/2026
"92,110.86
Ninety-two thousand one hundred ten and 86/100""""""""""""""""""""""""""""""""`"""'
ITG Communications LLC
2400 E COMMERCIAL BLVD
SUITE 1000
FORT IAUDERDALE, FL 33308
09/11/2026 ITG COMMUNICATIONS, LLC
Date Type Reference Original Amount
08/31/2026 Bill 87,249.94
09/01/2026 Bill 4,860.92
Check Amount
LSB-Capital Expendil
09/11@026 ITG COMMUNICATIONS, LLC
Date Type Reference Original Amount
08/31/2026 Bill 87,249.94
09/01/2026 Bill 4,860.92
Check Amount
LSB-Capital Expendil
Balance Due Payment
87,249.94 87,249.94
4,860.92 4,860.92
92,110.86
92,110.86
Balance Due Payment
87,249.94 87,249.94
4,860.92 4,860.92
92,110.86
92,110.86
WATERLOO TELECOMMUNICATIONS
UTILITY
Date Type Payee Amount
IITG
09/11/2026 Bill Payment (Check) jCOMMUNICATIONS, $929110.86
ILC
CAPVTA L
9/25/2026
ITG COMMUNICATIONS, LLC
FTAR073126LCP143
$5,432.0
ITG COMMUNICATIONS, LLC
FTAR073126TO15
$6,629,95
ITG COMMUNICATIONS, LLC
FTAR073126TO2A
$1,210,56
ITG COMMUNICATIONS, LLC
FTTH063026T011
$40,623,41
ITG COMMUNICATIONS, LLC
FTTH07312026TO2
$2,716,00
ITG COMMUNICATIONS, LLC
FTTH07312026TO8
$9,096.85
ITG COMMUNICATIONS, LLC
FTTH073126LCP058
$3,436,13
ITG COMMUNICATIONS, LLC
FTTH073126T011
$18,084,10
ITG COMMUNICATIONS, LLC
FTTH073126TO13
$1,067.00
ITG COMMUNICATIONS, LLC
FTTH073126TO14
$14,550.00
ITG COMMUNICATIONS, LLC
FTTH073126TO15
$3,638,47
ITG COMMUNICATIONS, LLC
FTTH073126TO16
$2,910,00
ITG COMMUNICATIONS, LLC
PC49209102026
$10,722.60
ITG COMMUNICATIONS, LLC
PC49209122026WLD
$14,607,00
ITG COMMUNICATIONS, LLC
PC49209052026WLD
$16,131.50
04 a�2w! 126
S I�osO�10S'9
$150,755.57
E57,772.18
$208,527.76
ITG Communications LLC
2400 E Commerical Blvd Suit 1000
Fort Lauderdale FL
615-447.5347
accou ntsrecelvable@l-t-g.net
Bill To
City of Waterloo 492492
625 Glenwood
Waterloo , Iowa 50703
NA
319-291-0141
Approved and sub"tted 9/l012026
To
YPFI[LG �ZFY]
Mulbery St
eAoo, Iowa 50703
Invoice
Customer Dale
Invoice #
09/10/2026
PC49209102026
Due Dale
10/10/2026
Status
Invoice
Co-Ordinator
P.O.No.
N/A
Project Cale9ory
Work Type
Job
Address
City/Town
Stale
County
MDU
N/A
Lantern Square Apts
Waterloo
IA
50701
Terms
Lead #
Construction ID #
Project Name
Project No.
Lantern Square Apts
Lantern Square Apts
Item
Quan0ty
Description
U/M
Rate
Amount
LI 127
FFS
5
281
Install New Splice Case 6 Prep Cable -->[EA]
Fusion Fiber Splice
$200
$34.6
$100.00
$9,722.60
Lantern Square Apts
Subtotal
$10,722.60
Sales Tax (0%)
$0.00
Total
$10,722.60
ITG Communloation LLC
139 Clark St.
Waterloo IA 60703
6154475347
accountsrecelvable@l-t-g, net
OF Waledoo-087
5 Mulberry St
atedoo , Iowa 60703
Iecommunlcatlons Waterloo Fiber
92910141
SKIP To
City OF Waterloo
NA
Waterloo, Iowa 99999
NA
T015
LCP143
FTTH
ARPA
Invoice
Customer Date
Involve #
0910812026
FTAR073126LCP143
Due Dale
10/08/2028
Status
Invoiced -Pending Approval
Co-Ofdlnalor
P.O.No.
T015 - LCP143
Protect Category
Work Type
Job
Address
CityRown
State
County
Construction
T016-LCP143
-
WATERLOO
IA
50703
Terms
Lead #
Construction ID #
Project Name
Protect No.
T015-LCP143
WATERLOO FIBER
T015-LCP143
Item
Quantity
Description
U/M
Rate
Amount
LI_727A
LI-127D
LI-130
LI 146 C
4
1
36
1
Commscope CSC100 Micro Closure —>[EA)
FOSC 450 D Closure —>[EAJ
Splicing, Fusion, Single Fiber —>[EA]
Install 144 Pad Mounted FDH SpliBer Cabinet
$200
$200
$25
$3700
$800,00
$200.00
$900.00
$3,700.00
DPR's 2026-07-07 & 2026-07-08
& 2026-07-06
Reviewed and approved for payment 09.16.2026
Subtotal
$5,600,00
Retalnage hold back (3%)
(- $168.00 )
Sales Tax (0%)
$0.00
Total
$5,432.00
C&4&'ce. 0<�
ITO Communlcatlon LLC
139 Clark St,
Waterloo IA 50703
6154475347
accounts receIvabIe@I,tg.net
BIII To
Clty OF Waterloo-487
715 Mulberry St
Waterloo ,Iowa 50703
Telecommunications Waterloo Fiber
OF Waledco
IIS'fi+kkkF+l
T02A FTTH
LCP140 ARPA
Involce
Customer Date
Invoice #
0910912026
FTAR073126TO2A
Due Date
1010912026
Status
Imdc�Pending Approval
Co-Ordinator
P.O.No.
T02A-LCP140
ProjectCale9ory
Work Type
Job
Address
City/Tovm
State
County
Construction
T02A-LCP140
WATERLOO
IA
50703
Terms
Lead
#
Construction ID #
Project Name
Project No.
T02A - LCP140
WATERLOO FIBER
T02A - LCP140
Item
Quantity
Description
U/M
Rate
Amount
LI 47B
1040
24 CT Micro Fiber Cable —>[FT] 24 CT Micro Flber Cable —>[FT]
$1.2
$1,248.00
DPR's 2026-07-02 & 2026-07-03
Reviewed and approved for payment 09.16.2026
Subtotal
$1,248.00
Relainage hold back (3k)
(- $37.44 )
Sales Tax (0 )
$0,00
Total
$1,210,56
(.rl atiiae Fi¢r/xn
ITG Communication LLC T015
139 Clark St. LCP057
Waterloo IA50703 LCP059
6154475347 LCP123
accountsrecelvable@I-tg.net
Bill To
City OF WatedwA87
715 Mulberry St
Waterloo . Iowa 50703
Watedw Fiber
a
N]y4r�5.7
FTTH
ARPA
Invoice
Customer Date
Invoiw #
09/09/2026
FTAR073128T015
Due Dale
10I09I2026
Status
ImdceaPending Approval
Co-Ordinator
P.O.No,
T015
Project Category
Work Type
Job
Address
CityRown
State
County
Construction
T015
-
WATERLOO
IA
50703
Terms
Lead #
Construction ID #
Project Name
Project No.
T015
WATERLOO FIBER
T015
Item
Quantity
Description
U/M
Rate
Amount
LI-133
60
Testing, OTDR, Unl-Directiwal, Power Meter Testing —>[EAj
$1
$60.00
LI-130
95
Splicing, Fusion, Single Fiber —>[EA]
$25
$2,375,00
LI 127A
14
Commswpe CSC100 Micro Closure —>[EA] Commswpe CSC100
$200
$2,800.00
—
Micro Closure —>[FAj
LI_127C
4
FOSC 450 B Closure -->[EA]
$200
$600,00
LI_127D
3
FOSC 450 D Closure —>[EA] FOSC 450 D Closure -->[EA]
$200
$600.00
LI 1278
1
Commswpe CSC150 Micro Closure —>[FA] Commswpe CSC150
$200
$200.00
—
Micro Closure —>[FA]
DPR's 2026-07-09 & 2026-07-10 & 2026-07-13 & 2026-07-16 & 2026-07-20 & 2026.07-21 & 2026-07-22 &
Subtotal
$6,835,00
Retalnage hold back (3%)
(- $205.05 )
2026-07-23 & 2026-07-28
& 2026-07-31
Sales Tax (0%)
$0,00
LI 133
Reviewed and approved for payment 09.16.2026
Total
$6,629.95
1 nMncn nn
LCP123 - 36
LI_130
LCP057 - 36
LCP059 - 36
LCP123 - 23
LI_127A
LCP059 - 1
LCP143-13
LI_127C
LCP059 - 2
LCP123 - 2
LI 127D
CCP057 - 2
LCP059 - 1
LI 127B
LCP059 - 1
ITG Communication LLC
139 Clark St.
Waterloo IA 50703
6154475347
accou ntsrecelvable@l-t-g. net
r OF Weledoo-087
I Mulberry St
ledoo ,Iowa 50703
scommunlcatlons Waterloo Fiber
CR2025-0036
OF Weledoo
Iowa 99999
T011
LCP142
FTTH
N(lN ARPA Invoice
Customer Dale
Invoice #
07122 02026
FTTH063026I Oil
Due Dale
0812112026
Slalus
Co-Ordinalor
P.O.No.
T011
Project Category
Work Type
Job
Address
City?own
State
County
Construction
T011
WATERLOO
IA
00000
Terms
Lead #
Construction ID #
Project Name
Project No.
T011
WATERLOO FIBER
T011
Item
Quantity
Description
Ulm
Rate
Amount
LI_16
350
Directional Bore (0) 1", (0) 20, (1)1.25%-->[LF]
$11.95
$4,182.50
LI_17
1044
Directional Bore (1)19, (0) 203 (0)1.25'-->[LF)
$11.95
$12,475.80
LI_37
7
Install 5l8"x8' Copper Clad Ground Rod -->[EA]
$52
$364.00
LI_51
6
Installation, Small Vault, 13° x 24' (Composite) -->[EA)
$150
$1,200.00
LI_53
3
Installation, Vault 240 x 36' —>[FA]
$240
$720.00
LI_55
1
Installation, Extra Large Vault 33' x 60M —>[EA]
$540
$540.00
LI_67A
2890
Plow (1) 1' conduit 3642' deep —>(LF(
$7,75
$22,397.50
DPR 2026-06-04
Subtotal
$41,879.80
Retainage hold back (3%)
(-$1,256.39 )
Sales Tax (0%)
$0,00
Reviewed and approved for payment 09A6.2026
Total
$40,623.41
ITG Communication LLC
139 Clark St.
Waterloo IA50703
6154475347
accou ntsrecelvable@l •t•g. net
Bill To
City OF Waterloo-487
715 Mulberry St
Waterloo , Iowa 50703
Telecommunications Waterloo Fiber
OF Watedoo
RS��E
T015 FTTH
LCP058 NON ARPA
Invoice
Customer Date
Invoice #
09/08t2026
FTTH073126LCP058
Due Date
10/08/2026
Status
Invoiced -Pending Approval
Co-Ordlnator
P.O.No.
T015 - LCP058
Project Category
Work Type
Job
Atldress
City/Tovm
Stale
County
Construction
T015-LCP058
WATERLOO
IA
50703
Terms
Lead #
Construction ID #
Project Name
Project No.
WATERLOO FIBER
T015 - LCP058
Item
Quantity
Description
U/M
Rale
Amount
LI 47A
2952
12 CT Micro Fiber Cable —>[FT]
$1.2
$3,542.40
DPR 2026-07-06
Reviewed and approved for payment 09.16.2026
Subtotal
$3,542,40
Retalnage hold back (3%)
(- $106.27 )
Sales Tax(0%)
$0,00
Total
$3,436.13
ITG Communication LLC
139 Clark St.
Waterloo IA 50703
6154475347
accountsrocelvable@14�g.net
BIII To
City OF Waterloo-087
715 Mulberry St
Waterloo , Iowa 50703
Telecommunications Waterloo Fiber
3192910141
To
OF Waterloo
Iowa 99999
T011
LCP142
FTTH
NON ARPA Invoice
Customer Dale Invoice #
09109/2026 FTTH073126T011
Due Date 10/09/2026
Status
Imala Pending Approval
Co Ordlnalor
P.O.No.
T011
Protect Category
Work Type
Job
Address
City?own
State
County
Construction
T011
WATERLOO
IA
00000
Terms
Lead #
Construction ID #
Protect Name
Project No.
T011
WATERLOO FIBER
Toll
Item
Quantity
Description
U/M
Rate
Amount
Testing, OTDR,131-Directional, Power Meter Testing -->[EA]
LI_134
12
$1.25
$15.00
Testing, OTDR, BI-Directional, Power Meter Testing -->[EA]
Testing, OTOR, Unl-Directional, Power Meter Testing —>[EA]
LI 133
204
$1
$204.00
—
Testing, OTDR, Unl-Directional, Power Meter Testing —>[EA]
Splicing, Fusion, Single Fiber—>EAI Splicing, Fusion, Single Fiber
LI_130
238
$25
$5,950.00
-->[EA]
LI-127D
2
FOSC 450 D Closure —>IEA] FOSC 450 D Closure -->[EA]
$200
$400,00
LI_127C
3
FOSC 450 B Closure -->[EA] FOSC 450 B Closure -->[EA]
$200
$600.D0
Commscope CSC150 Micro Closure —>[EA] Commscope CSC150
LI 1278
4
$200
$800.00
—
Micro Closure —>[EA]
Commscope CSC100 Micro Closure —>[EA] Commscope CSC100
LI_127A
3
$200
$600.00
Micro Closure —>[EA]
288F Pad mounted FDH Splitter Cabinet -->[EA] 288F Pad
LI_146A
1
$3700
$3,700.00
mounted FDH Splitter Cabinet-->IEA]
288 CT Micro Fiber Cable -->[FT] 288 CT Ml= Fiber Cable -->[FT]
LI 47F
3526
$1.2
$4,231.20
12 CT Micro Fiber Cable —>[FT] 12 CT Micro Fiber Cable —>[FT]
LI 47A
1330
$1.2
$1,596.00
LI 46A
456
12 CT Fiber Cable -->[FT] 12 CT Fiber Cable -->[FT]
$1.2
$547.20
DPR's 2026-07-01 & 2026-07-06 & 2026-07-08 & 2026-07-10 & 2026-07-14 & 2026-07-15 & 2028-07-16 &
Subtotal $18,643,40
Retalnage hold back (3%) (- $559.30 )
2026-07-21 & 2026-07-23
Sales Tax (0%) $0.00
Total $18,084,10
Reviewed and approved For payment 09.16.2026
ITG Communication LLC
139 Clark St.
Waterloo IA 50703
6154475347
accou nts recelvabla@t-t-g.net
To
OF WaterlooA87
Mulberry St
lerloo , Iowa 50703
scommunications Waterloo Fiber
2910141
Ship To
City OF Waterloo
NA
Waledoo, Iowa 99999
NA
T013 FTTH
LCP049 NON ARPA
IOVOICe
Customer Date
Invoice #
09109/2026
FTTH073126T013
Due Date
10109/2026
Status
Imelced-pending Approval
Co-Ordinator
P.O.No,
T013
ProJeclCategory
Work Type
Job
Address
City/Town
Slate
County
Construction
T013
WATERLOO
IA
50703
Terms
Lead #
Construction ID #
Project Name
Project No.
T013
WATERLOO FIBER
T013
Item
OuanOty
Description
Ulm
Rate
Amount
LI_130
LI 127D
36
1
SPLICING, FUSION, SINGLE FIBER-->(EA)00
FOSC 450 D Closure —>[EA] FOSC 450 D Closure
-->[EA]
$25
$200
$900.00
$200,00
DPR 2026-07-21
Reviewed and approved for payment 09.16.2026
Subtotal
$1,100.00
Retalnage hold back (3%)
(- $33.00 )
Sales Tax (0%)
$0,00
Total
$1,067,00
('�G.a&" A�
ITO Communication LLC
139 Clark St.
Waterloo IA 50703
6154475347
accountsrecelvable@l-t-g.net
To
y OF Waterloo-467
5 Mulberry St
3tedoo , Iowa 50703
lecommunlcations Waterloo Fiber
92910141
Ship To
City OF Waterloo
NA
Watedoo, Iowa 99999
NA
9 Q-999-9999
T014
LCP106
LCP123
FTTH
NON ARPA Invoice
Customer Data
Invoice #
09/0912026
FTTH073126TO14
Due Dale
1010M026
Status
Imrolced-PeMug Approval
Co-Ordinalor
P.O,No.
T014
Pro]ecl Cale9ory
Work Type
Job
Address
City?own
State
County
Construction
T014
WATERLOO
IA
50703
Terms
Lead #
Construction ID #
Project Name
Project No.
T014
WATERLOO FIBER
T014
Item
Quantity
Description
U/M
Rate
Amount
1.I_127A
LI 127B
—
73
2
Commscope CSC100 Micro Closure —>[EA]
Commsmpe CSC150 Miao Closure —>[FA] Commsmpe CSC150
Micro Closure —>[EA]
$200
$200
$14,600.00
$400.00
DPR's 2026-07-01 & 2026-07-13 & 2026-07-17 & 2026-07-20 & 2026-07-21 & 2026-07-22 & 2026-07-23 &
2026-07-26 & 2026-07-29 & 2026-07-24 & 2026-07-27 & 2026-07-31
11 73 Reviewed and approved for payment 09.16.2026
Subtotal
$15,000.00
Retalnage hold back (3%)
(- $450.00 )
Sales Tax (0%)
$0.00
Total
$14,550.00
LCP106 - 60
LCP123 - 13
LI_127B
LCP106 - 2
ITG Communication LLC
139 Clark St.
Waterloo IA 50703
6154475347
accou ntsrecelvable@l-t-g.net
To
OF Waledoo-087
Mulberry St
edoo ,Iowa 60703
communications Waterloo Fiber
OF Waledoo
T015
LCP058
LCP061
FTTH
NON ARPA Invoice
Customer Dale
Involce #
0910912026
FTTH073126TO15
Due Date
1010912026
Status
Involved -Pending Approval
Co-Ordlnator
P.O.No,
T015
Project Category
Work Type
Job
Address
City/Town
Stale
County
Construction
T015
WATERLOO
IA
50703
Terms
Lead #
Construction ID #
Project Name
Project No.
T015
WATERLOO FIBER
T015
Item
Quantity
Description
Ulm
Rate
Amount
LI-130
2
Splicing, Fusion, Single Fiber —>[EA]
$25
$50,00
LI_127C
1
FOSC 450 B Closure -->[EA]
$200
$200.00
LI 127A
3
Commscope CSC100 Micro Closure —>[EA] Commsoope CSC100
$200
$600.00
—
Micro Closure —>[EA]
LI-130
65
Splicing, Fusion, Single Fiber —>[FA]
$25
$1,625.00
LI 1278
1
Commscope CSC150 Micro Closure —>[EA] Commscope CSC150
$200
$200.00
—
Micro Closure —>[EA]
LI_127C
3
FOSC 450 B Closure -->[FA]
$200
$600.00
1I_12713
1
FOSC 450 D Closure —>[FA]
$200
$200.00
LI-133
276
Testing, OTDR, Unl-Directional, Power Meter Testing —>[EA]
$1
$276,00
DPR's 2026-07-20 & 2026-07-22 & 2026.07-23 & 2026-07-27 & 2026-07-28 & 2026-07-29
Subtotal $3,761,00
Retalnage hold back(3%) (-$112.53)
LI 130
LCP058 - 53
Sales Tax (0%) $0.00
LCP061 - 14 Reviewed and approved for payment 09.16.2026
Total $3,638.47
LI lZ/l:
LCP058 - 2
LCP061 - 2
LI 127A
CCP058 - 3
LI_1276
LCP058 - 1
LI_127D
LCP058 - 1
LI 133
1CP061 - 276
��i:tlKc Fuu,raw
ITG Communication LLC
139 Clark St.
Waterloo IA 50703
6154475347
accou ntsrecelvable@I4-9.net
OF Waterloo-067
Mulberry St
srloo , Iowa 50703
communications Waterloo Fiber
?910141
To
OF Waterloo-487
Mulberry St
�rloo. Iowa 50703
Waterloo Fiber
T016 FTTH
LCP050 NON ARPA
Invoice
Customer Date
Invoice
09/09/2026
FTTH073126TO16
Due Date
10I09/2026
Status
Imroiced-Pending Approval
C Ordinalor
P.O.No.
T016
Pro]ecl Category
Work Type
Job
Address
City/Town
Stele
County
Construction
T016
WATERLOO
IA
50703
Terms
Lead #
ConsWcllon
ID #
Project Name
Project No.
T016
WATERLOO FIBER
T016
Item
Quantity
Description
Ulm
Rate
Amount
LI 127A
—
15
Commsoope CSC100
Micro Closure —>[FA]
Micro Closure —>[EA]
Commscope CSC100
$200
$3,000.00
DPR's 2026-07-29 & 2026-07-31
& 2026-07-30
Reviewed and approved for payment 09.16.2026
Subtotal
$3,000.00
Relalnage told back (3%)
(- $90.00 )
Sales Tax (0%)
$0.00
Total
$2,910.00
('.f�Xabrc Fwieaw
ITG Communication LLC
139 Clark St.
Waterloo IA 50703
6154475347
accou ntsrecetvable@l-t,g.net
BIII To
C�7a\4rF.RTi[SLhYI
Mulberry Sl
=rim , Iowa 50703
communications Waterloo Fiber
?910141
Ship To
City OF Waterloo
NA
CEFi-I�RRR]
999-988-9999
T02 FTTH
LCP034 NON ARPA Invoice
Customer Dale
Invoice #
09/0912026
FTTH07312026TO2
Due Dale
10109/2026
Status
Invoked-PearINApproval
Co-Ordinator
P.O.No.
T02
ProjeG Category
Work Type
Job
Address
City?ovm
Stale
County
Construction
T02
WATERLOO
IA
50703
Terms
Lead #
Construction ID #
Project Name
Project No.
T02
WATERLOO FIBER
T02
Item
Quantity
Description
U/M
Rate
Amount
1-I-127A
14
Commsoope CSC100 Micro Closure —>[EA]
$200
$2,800,00
DPR 2026-08-29
Reviewed and approved for payment 09.16.2026
Subtotal
$2,800.00
Retalnage hold back (3%)
(- $84.00 )
Sales Tax (0%)
$0.00
Total
$2,716,00
ITG Communication LLC
139 Clark St,
Waterloo IA 50703
6154475347
accountarecelvabla@I-t-g.net
Bill To
City OF Waterloo-487
715 Mulberry St
Waterloo , Iowa 50703
Telecommunications Waterloo Fiber
OF Waterloo
Iowa 99998
T08
LCP083
LCP085
FTTH
NON ARPA Invoice
Customer Date Invoice #
09/09/2026 FTTH07312026TO8
Due Date 10/09/2026
Status
Iovdced-Pending Approval
Co Ordinator
P.O.No,
T08
Pro)M ategory
Work Type
Job
Address
City/7own
State
County
Construction
T08
WATERLOO
IA
50703
Terms
Lead #
Construction ID #
Project Name
Project No.
T08
WATERLOO FIBER
TOB
Item
Quantity
Description
U/M
Rate
Amount
1.I-4713
LI-130
LI-127C
LI-127A
LI-127B
3336
55
4
10
6
24 CT Micro Fiber Cable —>[FT)
Splicing, Fusion, Single Fiber —>[EA]
FOSC 450 B Closure -->[FA)
Commscope CSC100 Micro Closure —>[FA]
Commscope CSC150 Micro Closure —>[FA]
$1.2
$25
$200
$200
$200
$4,003.20
$1,375.00
$800.00
$2,000.00
$1,200.00
DPITs 2026-07-03
L 147B
LCP083 -
LI 130
& 2026-07-06
3336
Reviewed and approved for payment 09.16.2026
Subtotal
$9,378.20
Relalnage hold back (3%)
(- $281.35 )
Sales Tax (0%)
$0.00
Total
$9,096,85
LCP085 -
55
C'.G�tr,, F�
ITG Communications LLC W° C'* g6 " Approved 8 Submitted 9114/20
2400 E Commerical Blvd Su It 1000
Fort Lauderdale FL
615.447.5347
accounts recelva ble(ajl-t-g.nel
BIII To
City of Waterloo 492
716 Mulbery St
Waterloo
319-291-0141
Ship To
City of Waterim 492
715 Mulbery St
319-291-0141
Invoice
Customer Date
Invoice #
09/14/2026
PG49209052026WLD
Due Dale
2026-10-14
Status
Invoice
P.O.No.
0
Item
Quantity
Descdpllon
Rate
Amount
NID
16
Install NID wim 314
107
$1712
DBF03
14
Hardscape Bore
11.65
$163.1
DBF01
227
Fiber Drop (Direct Bury 12
2.65
$601.55
DBF03
4
Hardscape Bore
11,95
$48.6
DBF01
300
Fiber Drop (Direct Bury 12
2.65
$795
DBF03
12
Hardscape Bore
11.65
$139.8
DBF01
110
Fiber Drop (Direct Bury l2
2.65
$291.5
DBF01
80
Fiber Drop (Direct Bury 12
2.65
$212
DBFOI
60
Fiber Drop (Direct Bury 12
2.65
$132.5
DBF03
15
Hardscape Bore
11.65
$174.75
DBF01
90
Fiber Drop (Direct Bury 12
2.65
$238.5
DBFOI
180
Fiber Drop (Direct Bury 12
2.65
$477
DBFOI
210
Fiber Drop (Direct Bury 12
2.65
$556.5
EEE
13
Enclosure Entry
115
$1495
FFS
26
Fusion Fiber Splice
34.6
$899.6
AWO
i
Additional Wirirg/Oulle1
70
$70
RFSP
19
Residential Fiber Single Play
250
$4760
AWE
4
Additional Wireless access point, router, or Wireless mesh device
60
$240
DBF01
221
Fiber Drop (Direct Bury 12
2.65
$565.65
DBF03
20
Hardscape Bore
11.65
$233
DBF01
BO
Fiber Drop (Direct Bury 12
2.85
$212
DBF03
10
Hardscape Bore
11.65
$116.5
DBFOI
107
Fiber Drop (Direct Bury 12
2.65
$283.55
DBFO1
126
Fiber Drop (Direct Bury 12
2.65
$333.9
DBFOt
70
Fiber Drop (Direct Bury 12
2.65
$185.5
DBF01
60
Fiber Drop (Direct Bury 12
2.65
$159
FSS
11
On Premise Fiber Site Su"ay
60
$660
NID -
1
Install NID with 3/4
107
$107
LI_PFC
260
Pull fiber through existing conduit
1
1260
Subtotal
$16131.5
Sales Tax (0.0%)
$0.00
Retalnege hold back
$0
Total
$16131.5
ITG Communications LLC
2400 E Commerical Blvd Suit 1000
Fort Lauderdale FL Approved 8 Submi0ed 921/2026
815d47-5347
accountarecaivable@l-t.g.net
I BIII To I
City of Watedoo 492
715 Mulbery St
of Watedoo 492
Mulbery St
9-291-0141
Invoice
Customer Data
Invoice #
0912112026
PC49209122026WLD
Due Dale
1 2026-10-21
Stalus
Involve
P.O.No.
0
Item
Duen0ty
Description
Rate
Amount
NID
13
Install NlDwhh 314
107
$1391
EEE
16
Enclosure Entry
115
$1840
FFS
32
Fusion Fiber Splice
34.6
$1107.2
OBF01
388
Fiber Drop (Direct Bury 12
2.65
$10282
DBF01
59
Fiber Drop (Direct Bury 12
2.65
$156.35
DBF03
27
Hardscaps Bore
11.65
$314,55
DBF01
120
Fiber Drop (Direct Bury 12
2.65
$318
DBF03
10
Hardscape Bore
11.65
$116.5
DBF01
160
Fiber Drop (Direct Bury 12
2.65
$424
FFS
1
Fusion Fiber Splice
34.6
$34.6
DBF03
8
Hardscaps Bore
11.65
$93.2
DBF01
180
Fiber Drop (Direct Bury 12
2.65
$477
DBFOI
140
Fiber Drop (Direct Bury 12
2.65
$371
DBF01
133
Fiber Drop (Direct Bury 12
2.65
$352.45
DBF03
6
Hardscape Bore
11.65
$58.25
FSS
14
On Premise Fiber She Survey
60
$840
DBF03
20
Hardscape Bore
11.65
$2a3
DBF01
110
Fiber Drop (Direct Bury 12
2.65
$291.5
DBF01
70
Fiber Drop (Direct Bury 12
2.65
$185.5
RFSP
14
Resklendal Fiber Single Play
250
$3500
AWO
1
Additional WidrgrOuttel
70
$70
NID
1
Install NID with 3/4
107
$107
LI_PFC
90
Pu9 fiber through eldsting conduit
1
$90
DBF01
130
Fiber Drop (Direct Bury 12
2.65
$344.5
DBF01
175
Fiber Drop (Direct Bury 12
2.65
$463.75
DBFOI
113
Fiber Drop (Direct Bury 12
2.65
$299.45
Subtotal
$14507
Sales Tax (0.0%)
$0.00
Retainage hold back
$0
Total
$14507
Invoice
EN Engineering, LLC
Remit to: PO Box 735681
Chicago, IL 60673.5681
(T)630.353-4000 (F)630.353-7777
ACH -ABA#071000013, Acct#951566519
Chase (Net30 Days)
City of Watedoo
715 Mulberry St
Waterloo, IA 50703
September 23, 2026
Project No: 2416703,00
Involve No: 0559037
Project Manager: Michael Regan
Ref. Number:
Invoice Total: $15,864.57
Project 2416703.00 City of Watedoo As-Builts I LL�)
Invoice Type: Special / FF
C' of Watedoo Invoice Total: $2 303.93
Watedoo Fiber nvoice otal: 13,5 0,64
'EftTnvoices lo: bn g . oo W 0-1a.org; doug.anderson@waledoofiber.com
CC Invoices to: mregan@enlruslsol.com; tim.Slout@entrustsol.com; edragon@entrustsol.com;
nastasha.zaczkowski@entrustsol.com
Professional Services from August 16.2026 to September 19, 2026
Phase 77.3002 2026 Phase 3 -Fletcher - T015
Unit Billing
Billing Limits
Total Billings
Limit
Remaining
1.0 times 15,864.57 15,864.57
Total this Phase $15,664.57
Current Prior Ta-Date
15,864.57 346,490,09 362,354.66
479,581,90
117,227.24
Total this Invoice $15,864.57
As-Builts BB & FTTH Invoice Backup Data:
TOis FPaW" Rate_ �imroioeTotal
City of Waterloo 13,552.50 $0.17 $2,303.93
Waterloo Fiber 79,768.50 $0,17 $13,560.64
ARPA-elleible LCPfsI Task Order 35:
'LCP
, lIB IR)
_FlTH (R
71B poitlon of imrdice
F77N Portlon of Imofce
057
4,431
15,690
$753.27
$2,667.30
059
21445
41294
$415,65
$729.98
060
998
23,511
$169.66
$%996,87
Invoices not paid within 15 days of the oonbacl terms are subject to a 1.5 % per month Interest charge.
Invoice
September 23, 2026
Project No: 2672004,00
Invoice No: 0559038
EN Engineering, LLC Project Manager:
Remit to: PO Box 735681 Ref. Number:
Chicago, IL 60673-5681
(T) 630353.4000 (F) 630353.7777 Invoice Total:
ACH-ABA#071000013, Acct#951566519
Chase (Net 30 Days)
City of Waterloo
715 Mulberry St
Waterloo, IA 50703
Project 2672004,00 Waterloo - PMICMICI Engineering 2026
Invoice Type: FF
CI of Waterloo Invoice Total: $44 211. 3
Watedoo Fiber Invoice Total: $44,211.54
mai nv fCg9ftA0od@wated o-ta.org; doug.anderson@watedoo8ber.com
CC Invoices to: MRegan@entrustsol.com; tim.sloul@entrustsol.com; edragon@entrustsol.com
Professional Services from August 16, 2026 to September 19, 2026
Fee
Michael
Percent
Previous Fee
Current Fee
Billing Phase
Fee Complete
Earned Billing
Billing
Project Management
379,596.00
75.00
284,697.00
253,064.00
31,633.00
Project Engineering
75,912,00
75,00
56,934.00
50,608,00
6,326.00
Support ($6,326/mo)
Construction
455,532.00
75,00
341,649,00
303,688,00
37,961.00
Management
($37,961/mo)
Construction Inspection
217,536,00
100,00
217,536,00
217,536,00
0,00
($27,192/mo)
Project Coord Sep -Dec
33,836,00
25,00
8,459.00
0,00
8,459.00
'26 ($8,459/mo)
Al I - Virden Creek MIRE
11810,00
100,00
11810,00
11810,00
0,00
Alt - Ansborough - Hwy
21896,00
100,00
2,896.00
0,00
21896,00
218 Signals
Total Fee
11167,118,00
913,981,00
826,706,00
87,275,00
Total Fee
87,275.00
Reimbursable Expenses
Travel - Auto - Relmb
310,30
Travel - Auto Mileage - Reimb
733,40
Total Reimbursables
1.1 times
1p043a7O
1,148w07
Billing Limits
Current
Prior
To -Date
Expenses
11148,07
17,480.72
18,628.79
Limit
58,116,00
Remaining
39,487.21
Total
this Invoice
$881 23.07
Involves not paid within 15 days of the contract terms are subject to a 1.5 % per month Interest charge.
9/24/26, 3:30 PM
Dowment
WATERLOO TELECOMMUNICATIONS
UTILITY
Date
'09/25/2026
�,09/25/2026
Type
,Bill Payment (Check)
Bill Payment (Check)
Payee
'ITG
!COMMUNICATIONS
iLLC
jEN ENGINEERING
Amount �;
i
�$150,755.57 I
�',$57,772.18
hHps://qbo.Intuit.comlepp/printchecks?bankaocountid=34&trensecBonld=2707+p708 �/�
ITG COMMUNICATIONS, LLC
09/25/2026
"150,755.5I
One hundred fifty thousand seven hundred fifty-five and 57/100
ITG Communications LLC
2400 E COMMERCIAL BLVD
SUITE 1000
FORT LAUDERDALE, FL 33308
09/2512026 ITG COMMUNICATIONS, LLC
Date Type Reference Original Amount Balance Due Payment
07/31/2026 Bill 1509755,57 150,755.57 150,755.57
Check Amount 15%755.57
LSB-Capital Expendil 150,755.57
0912512026 ITG COMMUNICATIONS, LLC
Date Type Reference Original Amount Balance Due Payment
07/31/2026 Bill 150,755.57 1509755,57 1509755,57
Check Amount 150,755.57
LSB•Capital Expendil 150,755.57
09/25/2026
EN ENGINEERING *"57,772.18
Fifty-seven thousand seven hundred seventy-iwo and 18/100*"""""'**'*"`**""""""""*'**"""""`"**""'"
EN ENGINEERING
PO BOX 735681
CHICAGO, IL 60673-5681
0912512026 EN ENGINEERING
Date Type Reference Origlnal Amount Balance Due Payment
08/31/2026 Bill 57,772.18 57,772.18 57,772.18
Check Amount 57,772.18
LSB-Capital Expendil 57,772.18
09/25/2028 EN ENGINEERING
Date Type Reference Original Amount Balance Due Payment
08/31/2026 Bill 57,772.18 57,772.18 57,772.18
Check Amount 57,772.18
LSB-Capital Expendil 57,772.18
I �
IOWR PUBLIC AGENCY INVESTMENT TRUST
Transaction Receipt
i
REFERENCE NUMBER 13063043
TRANSACTION STATUS Pending
TRANSACTION DESCRIPTION OnlineACH Redemption
ENTERED BY Douglas Anderson
AMOUNT $208,527.75
FROM Waterloo Fiber -Bond Proceeds (IA02-91161-0202) -
Diversified
To ACH - ID: 77787 - FBO: *******090 -Institution: Lincoln
Savings Bank - Waterloo - OBI: Telecommunications Utility
TRADE DATE 09/25/2026
SETTLE DATE 09/25/2026
COMMENTS 9.25.26 capital check run
Generated: 09/23/2026 4:30 PM
This is an official transaction receipt. Please retain for your records.
09/23/2026 04:30:32 PM 1 / 1
SEPTEMBER 2026 OPERATING EXPENSEADVANTAGE ADMINISTRATORS,
INC HEALTH INSURANCE 1,970.44
AHLERS & COONEY, P.C.LEGAL 1,095.50
AMAZON CAPITAL SERVICES SUPPLIES 497.17
AVESIS VISION INSURANCE 137.31
CALIX, INC OPERATIONS, SERVICE CLOUD, SOLUTION AND SUPPORT3,625.08
CAMVIO, INC CUSTOMER BILLING SYSTEM 5,735.00
CEDAR FALLS UTILITIES WHOLESALE BANDWIDTH 3,710.00
CEDAR RAPIDS TV, LLC ADVERTISING 4,585.00
CINTAS, CORP BUILDING MAINTENANCE 215.54
COLOFF MEDIA ADVERTISING 2,347.00
COMPLIANCE SOLUTIONS, INC CONSULTING 450.00COURIER COMMUNICATIONS/LEE
ENTERPRISES LEGAL PUBLISHING 594.45
CUSTOMER REFUNDS REFUNDS 256.00
DELTA DENTAL OF IOWA DENTAL INSURANCE 788.58
ELAN FINANCIAL SERVICES SUPPLIES/ADVERTISING 7,025.13
EMC INSURANCE INSURANCE 1,000.00
FUSE TECHNIC, LLC CONSULTING 9,975.00
HURRICANE ELECTRIC, LLC INTERNET EXCHANGE 400.00
IMON COMMUNICATIONS, LLC TELEPHONE SERVICE 2,250.00IOWA DEPARTMENT OF
REVENUE SALES TAX 1,277.92
IPERS RETIREMENT 9,569.97KIELKOPF ADVISORY SERVICES,
LLC CONSULTING 1,811.25
LAMAR COMPANIES ADVERTISING 5,355.00
LESLEY WILDER BUILDING MAINTENANCE 600.00MIDAMERICAN ENERGY
COMPANY HUT UTILITIES 1,572.56
MUTUAL OF OMAHA LIFE INSURANCE 813.28
NRTC ISP TECH SUPPORT 1,226.02
OFFICE OF AUDITOR OF STATE AUDIT FILING FEE 850.00
PAYMENTUS CORPORATION A/R TRANSACTION FEES 518.40
PDCM INSURANCE 915.00
POWER & TELEPHONE SUPPLIES 4,134.89
SEGRA DARK FIBER LEASE 6,400.00
SOUTH FRONT NETWORKS, LLC UPN CONNECTION 950.00
THE COURIER/COLUMN PBC LEGAL PUBLISHING 172.00
TWIN TREES, LLC OFFICE RENT 14,825.33
VGM GROUP, INC ADVERTISING 581.01
VOYANT SOLUTIONS, LLC PHONE SERVICE 510.94
WELLMARK HEALTH INSURANCE 13,369.13
Waterloo Fiber
Table of Contents
Report on Matters Identified as a Result of
the Audit of the Basic Financial Statements
Material Weaknesses
Required Communication
Financial Analysis
Emerging Issues
1
3
4
8
9
C berganKDV
Report on Matters Identified as a Result of
the Audit of the Basic Financial Statements
Board of Trustees
Waterloo Fiber
Waterloo, Iowa
In planning and performing our audit of the basic financial statements of Waterloo Fiber, a
component unit of the City of Waterloo, as of and for the year ended December 31, 2025, in
accordance with auditing standards generally accepted in the United States of America and the
standards applicable to financial audits contained in Government Auditing Standards, issued by the
Comptroller General of the United States, we considered the Utility's internal control over financial
reporting (internal control) as a basis for designing audit procedures that are appropriate in the
circumstances for the purpose of expressing our opinions on the basic financial statements, but not
for the purpose of expressing an opinion on the effectiveness of the Utility's internal control.
Accordingly, we do not express an opinion on the effectiveness of the Utility's internal control over
financial reporting.
Our consideration of internal control was for the limited purpose described in the preceding
paragraph and was not designed to identify all deficiencies in internal control that might be material
weaknesses or significant deficiencies and, therefore, material weaknesses or significant deficiencies
may exist that have not been identified. In addition, because of inherent limitations in internal
control, including the possibility of management override of controls, misstatements due to error or
fraud may occur and not be detected by such controls. However, as discussed below, we identified a
certain deficiency in internal control that we consider to be a material weakness.
A deficiency in internal control exists when the design or operation of a control does not allow
management or employees, in the normal course of performing their assigned functions, to prevent,
or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a
combination of deficiencies, in internal control over financial reporting, such that there is a
reasonable possibility that a material misstatement of the Utility's basic financial statements will not
be prevented, or detected and corrected, on a timely basis. A reasonable possibility exists when the
Likelihood of an event occurring is either reasonably possible or probable as defined as follows:
• Reasonably possible. The chance of the future event or events occurring is more than remote
but less than likely.
• Probable. The future event or events are likely to occur.
The material weaknesses identified are stated within this letter.
The accompanying memorandum also includes financial analysis provided as a basis for discussion.
The matters discussed herein were considered by us during our audit and they do not modify the
opinion expressed in our Independent Auditors Report dated September 11, 2026, on such
statements.
i This communication, which is an integral part of our audit, is intended solely for the information and
use of the Members of the Board of Trustees and management and others within the Utility and state
oversight agencies and is not intended to be, and should not be, used by anyone other than these
specified parties.
wxvh^VKDV)
St. Cloud, Minnesota
September 11, 2026
2
Waterloo Fiber
Material Weakness
Lack of Segregation of Accounting Duties
During the year ended December 31, 2025, the Utility had a lack of segregation of accounting duties
due to a limited number of office employees. The lack of segregation of accounting duties could
adversely affect Utility's ability to initiate, record, process and report financial data consistent with
the assertions of management in the basic financial statements. Adequate segregation of accounting
duties is in place when the following four areas of a transaction have been separated: authorization,
custody, recording and reconciliation.
Management and the Board of Trustees are aware of this condition and have taken certain steps to
compensate for the tack of segregation. However, due to the number of staff needed to properly
segregate all of the accounting duties, the costs of obtaining desirable segregation of accounting
duties can often exceed benefits which could be derived. Management and the Board of Trustees
must remain aware of this situation and should continually monitor the accounting system, including
changes that occur.
Material Audit Adjustment
During the course of our audit, we proposed a material audit adjustment that would not have been
identified as a result of the Utility's internal controls, and therefore, could have resulted in a
material misstatement of the Utility's financial statements. In order to ensure financial statements
were free from material misstatement, audit adjustments were required to adjust accounts payable
and capital assets.
Waterloo Fiber
Required Communication
We have audited the basic
financial statements of
Waterloo
Fiber, a component unit of the City of
Waterloo, as of and for the
year ended December
31, 2025.
Professional standards require that we
advise you of the following
matters related to our
audit.
Our Responsibility in Relation to the Basic Financial Statement Audit
As communicated in our engagement letter, our responsibility, as described by professional
standards, is to form and express opinions about whether the basic financial statements prepared by
management with your oversight are presented fairly, in all material respects, in accordance with
accounting principles generally accepted in the United States of America. Our audit of the basic
financial statements does not relieve you or management of its respective responsibilities.
Our responsibility, as prescribed by professional standards, is to plan and perform our audit to obtain
reasonable, rather than absolute, assurance about whether the basic financial statements are free of
material misstatement. An audit of the basic financial statements includes consideration of internal
control over financial reporting as a basis for designing audit procedures that are appropriate in the
circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Utility's
internal control over financial reporting. Accordingly, as part of our audit, we considered the
internal control of the Utility solely for the purpose of determining our audit procedures and not to
provide any assurance concerning such internal control.
We are also responsible for communicating significant matters related to the audit that are, in our
professional judgement, relevant to your responsibilities in overseeing the financial reporting
process. However, we are not required to design procedures for the purpose of identifying other
matters to communicate to you.
Generally accepted accounting principles provide for certain Required Supplementary Information
(RSI) to supplement the basic financial statements. Our responsibility with respect to the RSI, which
supplements the basic audit financial statements, is to apply certain limited procedures in
accordance with generally accepted auditing standards. However, the RSI was not audited and,
because the limited procedures do not provide us with sufficient evidence to express an opinion or
provide any assurance, we do not express an opinion or provide any assurance on the RSI.
Our responsibility for the supplementary information accompanying the basic financial statements,
as described by professional standards, is to evaluate the presentation of the supplementary
information in relation to the basic financial statements as a whole and to report on whether the
supplementary information is fairly stated, in all material respects, in relation to the basic financial
statements as a whole.
Our Responsibility in Relation to Government Auditing Standards
As communicated in our engagement letter, part of obtaining reasonable assurance about whether
the basic financial statements are free of material misstatement, we performed tests of the Utility's
compliance with certain provisions of laws, regulations, contracts and grant agreements,
noncompliance with which could have a direct and material effect on the determination of basic
financial statement amounts. However, the objective of our tests was not to provide an opinion on
compliance with such provisions.
Planned Scope and Timing of the Audit
We conducted our audit consistent with the planned scope and timing we previously communicated
t0 you.
Waterloo Fiber
Required Communication
Compliance with All Ethics Requirements Regarding Independence
The engagement team, others in our firm, as appropriate, our firm and our network firms have
complied with all relevant ethical requirements regarding independence.
Significant Risks
We addressed the following significant risks of material misstatement identified in our planning
procedures:
• Management Override of Controls Overall Financial Statements Management override of
internal control is considered a risk in substantially all engagements as management may be
incentivized to produce better results.
• Improper Revenue Recognition - Revenue recognition is considered a fraud risk on
substantially all engagements as it generally has a significant impact on the results of the
governments operations. In addition, complexities exist surrounding the calculation and
recording of various revenue sources.
• Risk of Misappropriation of Assets - Due to the volume of transactions, there is a risk of
incorrect disbursements being made from the Utility. Accounts payable could also be
misstated at year end,
• Lease Valuation - Right to use lease assets and lease payables are material to the financial
statements and involve significant estimates.
• Capital Assets Valuation - Capital assets and related depreciation and amortization are
material to the financial statements and involve significant estimates.
• Pension Valuation - Net pension liability, deferred outflows of resources related to pensions
and deferred inflows of resources related to pensions are generally material to the financial
statements and involve significant estimates.
Qualitative Aspects of the Utility's Significant Accounting Practices
Significant Accounting Policies
Management has the responsibility to select and use appropriate accounting policies. A summary of
the significant accounting policies adopted by the Utility is included in the notes to the basic
financial statements. There have been no initial selection of accounting policies and no changes to
significant accounting policies or their application during 2025. No matters have come to our
attention that would require us, under professional standards, to inform you about (1) the methods
used to account for significant unusual transactions and (2) the effect of significant accounting
policies in controversial or emerging areas for which there is a tack of authoritative guidance or
consensus.
Significant Accounting Estimates and Related Disclosures
Accounting estimates and related disclosures are an integral part of the basic financial statements
prepared by management and are based on management's current judgements. Those judgements
are normally based on knowledge and experience about past and current events and assumptions
about future events. Certain accounting estimates are particularly sensitive because of their
significance to the basic financial statements and because of the possibility that future events
affecting them may differ markedly from management's current judgements. The most sensitive
estimates affecting the basic financial statements relate to:
Depreciation and Amortization -The Utility is currently depreciating and amortizing its capital
assets over their estimated useful lives, as determined by management, using the straight -tine
method.
Waterloo Fiber
Required Communication
Qualitative Aspects of the Utility's Significant Accounting Practices (Continued)
Significant Accounting Estimates and Related Disclosures (Continued)
Net Pension liability, Deferred Outflows of Resources Relating to Pensions and Deferred Inflows
of Resources Relating to Pensions - These balances are based on an allocation by the pension
plans using estimates based on contributions.
Lease Payables and Right to Use lease Assets -These balances are based on estimates and
judgments determined by the Utility related to the discount rate, lease term and lease
payments.
We evaluated the key factors and assumptions used to develop the accounting estimates and
determined that they are reasonable in relation to the basic financial statements taken as a whole
and in relation to the applicable opinion units.
Financial Statement Disclosures
Certain basic financial statement disclosures involve significant judgment and are particularly
sensitive because of their significance to financial statement users. The basic financial statement
disclosures are neutral, consistent and clear.
Significant Difficulties Encountered during the Audit
We encountered no significant difficulties in dealing with management relating to the performance
of the audit.
Uncorrected and Corrected Misstatements
For the purposes of this communication, professional standards require us to accumulate all
known and likely misstatements identified during the audit, other than those that we believe are
trivial, and communicate them to the appropriate level of management. Further, professional
standards require us to also communicate the effects of uncorrected misstatements related to
prior periods on the relevant classes of transactions, account balances or disclosures and the
basic financial statements taken as a whole and each applicable opinion unit.
In addition, professional standards require us to communicate to you all material, corrected
misstatements that were brought to the attention of management as a result of our audit
procedures. The following material misstatements that we identified as a result of our audit
procedures was/were brought to the attention of and corrected by management.
• Capital assets and accounts payable were understated.
Disagreements with Management
For purposes of this letter, professional standards define a disagreement with management as a
matter, whether or not resolved to our satisfaction, concerning a financial accounting, reporting
or auditing matter, which could be significant to the Utility's basic financial statements or the
auditor's report. No such disagreements arose during the course of our audit.
Representations Requested from Management
We have requested certain written representations from management, which are included in the
management representation letter.
Waterloo Fiber
Required Communication
Management's Consultations with Other Accountants
In some cases, management may decide to consult with other accountants about auditing and
accounting matters. Management has informed us that, and to our knowledge, there were no
consultations with other accountants regarding auditing and accounting matters.
Other Significant Matters, Findings or Issues
In the normal course of our professional association with the Utility, we generally discuss a variety of
matters, including the application of accounting principles and auditing standards, significant events
or transactions that occurred during the year, operating, and regulatory conditions affecting the
Utility, and operational plans and strategies that may affect the risks of material misstatement.
None of the matters discussed resulted in a condition to our retention as the Utility's auditor.
Other Information in Documents Containing Audited Basic Financial Statements
We applied certain limited procedures to the RSI that supplements the basic financial statements.
Our procedures consisted of inquiries of management regarding the methods of preparing the
information and comparing the information for consistency with management's responses to our
inquiries, the financial statements, and other knowledge we obtained during our audit of the basic
financial statements. We did not audit the RSI and do not express an opinion or provide any
assurance on the RSI.
With respect to the supplementary information accompanying the financial statements, we made
certain inquiries of management and evaluated the form, content and methods of preparing the
information to determine that the information complies with accounting principles generally
accepted in the United States of America, the method of preparing it has not changed from the
prior period, and the information is appropriate and complete in relation to our audit of the
financial statements. We compared and reconciled the supplementary information to the
underlying accounting records used to prepare the basic financial statements or to the basic
financial statements themselves.
Our responsibility also includes communicating to you any information which we believe is a
material misstatement of fact. Nothing came to our attention that caused us to believe that such
information, or its manner of presentation, is materially inconsistent with the information, or
manner of its presentation, appearing in the basic financial statements.
Waterloo Fiber
Financial Analysis
The following page provides graphic representation of select data pertaining to the financial position
i and operations of the Utility for the past year. Our analysis of each graph is presented to provide a
basis for discussion of past performance and how implementing certain changes may enhance future
performance. A subsequent discussion of this information should be useful for planning purposes.
Waterloo Fiber
I This is the first full year of operations for the Fiber utility, this graph will include future years for
comparative purposes up to 5 years. Revenues increased due to increased customers. Expenses
increased due to increased salaries and benefits due to an increased number of employees as well as
increased depreciation/amortization expense. At the end of the year the fund had unrestricted net
position of ($14,364,880).
Fiber Fund
$4,0001000
$2,000,000
$-
$(R,00o,000)
$(41000,000)
$(61000,000)
$(81000,000)
$001000 000)
$(12y000s0D0)
$(14,000,000)
$(1630001000)
-
2024
2025
■Total Revenues
$56,786
$606,821
■Total Expenses
11854,223
317271645
■Income (Loss)
(13797,437)
(3,1203824)
•income without Depreciation
(117%314)
(21840,524)
■Unrestricted Net Position
(21338,808)
(141364,880)
f•
Waterloo Fiber
Emerging Issues
Executive Summary
The following is an executive summary of financial related updates to assist you in staying current on
emerging issues in accounting and finance. This summary will give you a preview of the new
standards that have been recently issued and what is on the horizon for the near future. The most
recent and significant updates include:
Accounting Standard Update - GASB Statement No. 103 -Financial Reporting Model
Improvements
GASB has issued GASB Statement No. 103 relating to changes in financial reporting
requirements. The changes provide clarity, enhance the relevance of information, provide
more useful information for decision -making, and provide for greater comparability amongst
government entities.
Accounting Standard Update - GASB Statement No. 104 - Disclosure of Certain Capital
Assets
GASB has issued GASB Statement No. 104 relating to capital asset disclosures. The disclosures
required by this Statement provide users of the financial statements with essential
information about certain types of capital assets.
The following is an extensive summary of the current updates. As your continued business partner,
we are committed to keeping you informed of new and emerging issues. We are happy to discuss
these issues with you further and their applicability to your Utility.
Waterloo Fiber
Emerging Issues
Accounting Standard Update -GASB Statement No. 103 - Financial Reporting Model
Improvements
The objective of this Statement is to improve key components of the financial reporting model to
enhance its effectiveness in providing information that is essential for decision making and assessing
a government's accountability. This Statement also addresses certain application issues.
This Statement addresses 5 areas of the financial statements (1) Management's Discussion and
Analysis (MDBA), (2) Unusual or Infrequent Items, (3) Presentation of the Proprietary Fund Statement
of Revenues, Expenses and Changes in Fund Net Position, (4) Major Component Unit Information and
(5) Budgetary Comparison Information.
This Statement continues the requirement that the MDBA precede the basic financial statements as
part of the Required Supplementary Information (RSI). This Statement requires that the information
presented in MDBA be limited to the related topics discussed in five sections: (1) Overview of the
Financial Statements, (2) Financial Summary, (3) Detailed Analyses, (4) Significant Capital Asset and
Long -Term Financing Activity and (5) Currently Known Facts, Decisions or Conditions. The Statement
stresses that detailed analyses should explain why balances and results of operations changed, rather
than stating amounts and "boilerplate" discussions.
This Statement describes unusual or infrequent items as transactions and other events that are either
unusual in nature or infrequent in occurrence. Furthermore, governments are required to display the
inflows and outflows related to each unusual or infrequent item separately as the last presented
flow(s) of resources prior to the net change in resource flows in the government -wide, governmental
fund and proprietary fund statements of resource flows.
This Statement requires that the proprietary fund statement of revenues, expenses and changes in
fund net position continue to distinguish between operating and nonoperating revenues and
expenses. The Statement provides clarification regarding operating and nonoperating revenues and
expenses. Also, this Statement requires that a subtotal for operating income (loss) and noncapitat
subsidies be presented before reporting other nonoperating revenues and expenses.
This Statement requires governments to present each major component unit separately in the
reporting entity's statement of net position and statement of activities if it does not reduce the
readability of the statements. If the readability of those statements would be reduced, combining
statements of major component units should be presented after the fund financial statements.
This Statement requires governments to present budgetary comparison information using a single
method of communication - R51. Governments also are required to present (1) variances between
original and final budget amounts and (2) variances between final budget and actual amounts. An
explanation of significant variances is required to be presented in notes to RSI.
GASB Statement No. 103 is effective for fiscal years beginning after June 15, 2025. Earlier
application is encouraged.
Information provided above was obtained from www.gasb.org.
10
Waterloo Fiber
Emerging Issues
Accounting Standard Update- GASB Statement No. 104 - Disclosure of Certain Capital Assets
The objective of this Statement is to provide users of government financial statements with essential
information about certain types of capital assets.
This Statement requires certain types of capital assets continue to be disclosed separately in the
capital assets note disclosures including presentation of capital assets by major class and separate
disclosure of tease assets, subscription assets and intangible right -to -use assets.
This Statement requires additional disclosures for capital assets held for sale. A capital asset is held
for sale if (a) the government has decided to pursue the sale of the capital asset and (b) it is
probable that the sale will be finalized within one year of the financial statement date.
Governments should disclose (1) the ending balance of capital assets held for sale, with separate
disclosure for historical cost and accumulated depreciation by major class of asset and (2) the
carrying amount of debt for which the capital assets held for sale are pledged as collateral for each
major class of asset.
GASB Statement No. 104 is effective for fiscal years beginning after June 15, 2025. Earlier
application is encouraged.
Information provided above was obtained from www.gasb.org.
11