HomeMy WebLinkAboutFY2024 4thQtr Financial SummaryDate: September 16, 2024
To: City Manager, City Council
From: Angie Ogden, Budget Management Analyst
Re: Quarterly Financial Summary for Period Ending June 30, 2024
Introduction
Attached to this memorandum are the City’s quarterly financial reports as of June 30, 2024. The
quarterly financial report includes combined summaries of all fund balances, revenues, and
expenditures for fiscal year 2024 through the end of the fiscal year. This report represents the
entire fiscal year’s activities, but the totals presented are still preliminary and unaudited. Accruals
will continue to be posted through September and until the annual financial audit is completed by
Bohnsack & Frommelt.
Revenue Analysis
This revenue analysis pertains to the revenue reports, Revenues by Fund and Revenues by Type,
on pages 4-6. In these two reports, the actual revenues would ideally be near 100% of budget
since we have completed the fiscal year; however, not all of the accrued revenues have been
posted yet.
For the major governmental funds, their actual revenues finished the year slightly above or at their
revised budget estimates. The General Fund is at 103.8%, the Road Use Tax Fund is at 109.5%,
the Employee Benefits Fund is at 100.3%, and the Debt Service Fund is at 104.9%. The General
Fund has experienced revenue shortfalls in Intergovernmental revenues due to timing of grant
reimbursements.
In the major enterprise funds, the actual revenues as a percentage of the budget ranged between
21.8% and 120.7%. The Landfill Fund finished with revenues at 120.7% of budget, the
Wastewater Fund at 110.8% of budget and the Refuse Collection Fund at 104.0% of budget. The
major enterprise funds will finish the year with revenues close to or higher than 100% of budget
primarily due to conservative revenue budgeting for Charges for Fees and Services.
The Transit Fund actual revenues currently stand at 21.4% of budget. This difference in the
Transit Fund will be made up with the accrual of the Federal Operating grant. Transit Fees for
Services are sitting at 100%.
Several funds are below the 100% benchmark due to the timing of grants. These funds include
the Community Development Block Grant (CDBG) Fund at 66.0% and the HOME Fund at 11.2%.
Additionally, both the Governmental Projects and the Enterprise Projects Capital Funds are
significantly below budget at 69.5% and 5.1%, respectively. Revenues for these funds are
significantly below budget due to the timing of the state and federal grant revenues and bond
proceeds. These revenues have not yet been received or earned and will be amended into next
year’s budget.
The Other Shared Revenue Fund has revenues significantly over budget primarily due to the
receipt of higher interest on investments than anticipated. This is also contributing to the Interest
Revenues being at 609.0% of budget.
1
The combined total actual revenues for all budgetary funds through June are $190,475,740 or
81.9% of budget. The budget shortfall of $42,124,369 is primarily due to the timing of the
aforementioned grant revenues and other unrecorded accruals. Overall, the City’s revenues are
slightly less than projected, and most of the anomalies and budget variances can be explained
either through timing of accruals or grants.
Expenditure Analysis
This expenditure analysis pertains to the expenditure reports, Expenditures by Fund and
Expenditures by Fund by Department on pages 7-9. The analysis of the City’s expenditures for
fiscal year 2024 through June is similar to the analysis for the City’s revenues. We generally
expect the actual expenditure levels to be around 100% of budget at this time of year. Also,
similar to the revenues, not all accruals have been recorded and posted yet.
For the majority of the City’s funds, their actual expenditures are currently at or below 100% of
their budgeted expenditures. The General Fund is at 83.1% due to unspent monies within the
Neighborhood & Development Services for Aid to Agencies and American Rescue Plan Act funds
that will be carried forward to fiscal year 2025.
Some of the other funds have actual expenditures that are well below the 100% benchmark.
Those funds include: The HOME Fund (13.1%) due to timing of the pay out of loans and grant applicants.Other Shared Revenue (36.3%) primarily because of American Rescue Plan Act funds
budgeted but not yet spent.The Equipment Fund (74.5%) due to extended lead times when ordering equipment.Also, well below budget are the Governmental Projects Fund (38.2%), and the
Enterprise Projects Fund (18.2%) due to capital projects scheduled for construction
this spring.
Most of these funds contain a great deal of grant and project activity which does not always occur
evenly throughout the fiscal year. Unexpended appropriations will be carried forward into the next
fiscal year and amended into the fiscal year 2025 budget.
There are several funds currently above 100% of their budgeted expenditures. The Airport Fund
finished at 119.9% primarily due to unbudgeted contracted improvements and maintenance. The
Housing Authority at 112.1% due to landlord rents and Affordable Housing Fund at 140.0%
primarily due to LIHTC project expenses.
The combined total actual expenditures for all budgetary funds through June are $192,842,123
or 62.0% of budget. When the Capital Project Funds, HOME, CDBG, Other Shared Revenues
and Emergency Levy Funds are removed from the calculation, the actual percentage of
expenditures versus budget increases to 88.5%. Overall, the City’s expenditures are expected to
finish at or below budget.
Conclusion
Generally, there are no major immediate concerns to report with the City’s fund balances at year-
end. Two funds present negative fund balances at year-end. Both the CDBG and HOME fund
balances are expected to be corrected due to timing of funding streams. This year-end report is
preliminary and accruals for revenues and expenditures are still outstanding. The City’s final
financial performance will be available for the start of the fiscal year 2026 budget process in
November. Additional information is available from the Finance Department upon request.
2
Beginning Ending Restricted, Unassigned
Fund Year-to-Date Transfers Year-to-Date Transfers Fund Committed, Fund
Balance Revenues In Expenditures Out Balance Assigned Balance
Budgetary Funds
General Fund
10** General Fund 59,638,625$ 63,119,289$ 23,324,550$ 71,402,564$ 8,617,577$ 66,062,323$ 25,021,387$ 41,040,935$
Special Revenue Funds
2100 Community Dev Block Grant 395 889,258 - 928,736 - (39,083) - (39,083)
2110 HOME 44 403,385 - 455,862 - (52,432) - (52,432)
2200 Road Use Tax Fund 6,170,699 11,039,422 738,431 7,448,175 3,759,575 6,740,802 - 6,740,802
2300 Other Shared Revenue 14,321,198 653,948 - 951,049 10,459,309 3,564,789 - 3,564,789
2350 Metro Planning Org of J.C. 537,565 503,298 424,378 902,800 - 562,441 - 562,441
2400 Employee Benefits 4,287,578 14,864,849 1,274 1,739,908 13,836,741 3,577,051 - 3,577,051
2450 Emergency Levy Fund 1,157,208 874,504 - 533,815 325,000 1,172,898 - 1,172,898
2500 Affordable Housing Fund 7,399,710 372,575 1,000,000 1,400,194 - 7,372,091 - 7,372,091
2510 Peninsula Apartments 345,486 252,692 - 189,624 - 408,554 - 408,554
26** Tax Increment Financing 186,089 4,417,348 158,943 2,161,320 1,733,820 867,240 - 867,240
2820 SSMID-Downtown District - 661,438 - 661,438 - - - -
Debt Service Fund
5*** Debt Service 7,252,520 11,716,727 1,708,560 13,189,955 - 7,487,852 - 7,487,852
Enterprise Funds
710* Parking 2,074,298 5,561,446 1,046,022 4,136,591 2,464,011 2,081,164 453,285 1,627,878
715* Mass Transit 12,462,468 2,444,323 5,553,415 9,841,779 1,800,000 8,818,426 12,078,715 (3,260,289)
720* Wastewater 21,174,871 13,901,646 3,557,836 8,271,252 8,237,092 22,126,010 1,905,068 20,220,941
730* Water 15,824,989 12,734,762 3,652,134 10,587,765 5,850,059 15,774,061 6,425,366 9,348,695
7400 Refuse Collection 1,938,934 5,167,200 53,145 4,368,350 - 2,790,929 - 2,790,929
750* Landfill 24,087,723 8,804,436 1,967,573 6,085,972 6,255,552 22,518,209 19,113,125 3,405,083
7600 Airport 295,565 450,040 102,316 489,950 162,759 195,212 83,626 111,586
7700 Storm Water 1,284,753 1,950,216 1,105,826 623,916 2,039,746 1,677,134 593,215 1,083,919
79** Housing Authority 6,173,092 14,095,884 30,102 13,129,705 38,193 7,131,181 - 7,131,181
Capital Project Funds
Governmental Projects 32,475,993 13,731,007 5,969,702 19,809,862 - 32,366,839 - 32,366,839
Enterprise Projects 18,289,364 1,866,044 15,131,736 13,531,542 21,755,602 - 21,755,602
Total Budgetary Funds 237,379,166$ 190,475,738$ 65,525,942$ 192,842,123$ 65,579,432$ 234,959,293$ 65,673,789$ 169,285,503$
Non-Budgetary Funds
Internal Service Funds
810* Equipment 21,052,457$ 8,814,964$ 994,981$ 6,716,641$ 969,510$ 23,176,251$ 20,676,168$ 2,500,084$
8200 Risk Management 4,257,230 1,803,542 4,168 2,043,847 - 4,021,093 - 4,021,093
830* Information Technology 4,258,905 3,020,650 469,865 3,231,658 447,173 4,070,589 2,037,292 2,033,297
8400 Central Services 877,316 226,162 1,158 170,690 - 933,947 - 933,947
8500 Health Insurance Reserves 16,400,412 13,615,421 - 10,606,787 - 19,409,046 8,730,093 10,678,953
8600 Dental Insurance Reserves 529,317 467,770 - 399,145 - 597,941 - 597,941
Total Non-Budgetary Funds 47,375,637$ 27,948,509$ 1,470,171$ 23,168,767$ 1,416,683$ 52,208,867$ 31,443,552$ 20,765,315$
Total All Funds 284,754,803$ 218,424,247$ 66,996,114$ 216,010,890$ 66,996,114$ 287,168,160$ 97,117,342$ 190,050,818$
City of Iowa City
Fund Summary
Fiscal Year 2024 through June 30, 2024
3
2023
Actual
2024
Budget 2024 Revised
2024
Actual Variance Percent
Budgetary Fund Revenues
General Fund
10** General Fund 61,176,203$ 60,373,756$ 60,820,756$ 63,119,289$ 2,298,533$ 103.8%
Special Revenue Funds
2100 Community Dev Block Grant 1,175,809 909,524 1,347,095 889,258 (457,837) 66.0%
2110 HOME 1,074,710 1,480,386 3,613,443 403,385 (3,210,058) 11.2%
2200 Road Use Tax Fund 10,511,555 10,078,709 10,078,709 11,039,422 960,713 109.5%
2300 Other Shared Revenue 608,543 30,654 30,654 653,948 623,294 2133.3%
2350 Metro Planning Org of Johnson Co 371,171 415,352 545,352 503,298 (42,054) 92.3%
2400 Employee Benefits 14,856,963 14,814,799 14,814,799 14,864,849 50,050 100.3%
2450 Emergency Levy Fund 868,282 868,626 868,626 874,504 5,878 100.7%
2500 Affordable Housing Fund 2,204,266 - - 372,575 372,575 0.0%
2510 Iowa City Property Management 264,453 266,988 266,988 252,692 (14,296) 94.6%
26** Tax Increment Financing 4,154,649 4,083,031 4,059,847 4,417,348 357,501 108.8%
2820 SSMID-Downtown District 552,028 634,124 634,124 661,438 27,314 104.3%
Debt Service Fund
5*** Debt Service 11,511,672 11,173,415 11,173,415 11,716,727 543,312 104.9%
Enterprise Funds
710* Parking 5,444,648 5,611,532 5,629,848 5,561,446 (68,402) 98.8%
715* Mass Transit 7,291,060 6,562,268 11,422,466 2,444,323 (8,978,143) 21.4%
720* Wastewater 12,897,699 12,548,301 12,548,301 13,901,646 1,353,345 110.8%
730* Water 11,730,665 11,668,360 11,668,360 12,734,762 1,066,402 109.1%
7400 Refuse Collection 4,635,713 4,968,435 4,968,435 5,167,200 198,765 104.0%
750* Landfill 8,069,944 7,292,093 7,292,093 8,804,436 1,512,343 120.7%
7600 Airport 410,662 406,797 406,797 450,040 43,243 110.6%
7700 Storm Water 1,765,023 1,903,038 1,903,038 1,950,216 47,178 102.5%
79** Housing Authority 11,923,721 12,274,066 12,274,066 14,095,884 1,821,818 114.8%
Capital Project Funds
Governmental Projects 16,926,266 15,940,000 19,761,194 13,731,007 (6,030,187) 69.5%
Enterprise Projects 1,227,866 28,420,000 36,471,703 1,866,044 (34,605,659) 5.1%
Total Budgetary Revenues 191,653,572$ 212,724,254$ 232,600,109$ 190,475,738$ (42,124,371)$ 81.9%
Non-Budgetary Fund Revenues
Internal Service Funds
810* Equipment 8,228,072$ 8,742,979$ 8,742,979$ 8,814,964$ 71,985$ 100.8%
8200 Risk Management 1,395,250 1,111,193 1,546,193 1,803,542.06 257,349 116.6%
830* Information Technology 3,076,963 2,947,642 2,947,642 3,020,650.03 73,008 102.5%
8400 Central Services 262,194 232,764 232,764 226,162.24 (6,602) 97.2%
8500 Health Insurance Reserves 12,624,342 13,386,552 13,386,552 13,615,421.07 228,869 101.7%
8600 Dental Insurance Reserves 446,962 430,941 430,941 467,769.63 36,829 108.5%
Total Non-Budgetary Revenues 26,033,784$ 26,852,071$ 27,287,071$ 27,948,509$ 661,438$ 102.4%
Total Revenues - All Funds 217,687,356$ 239,576,325$ 259,887,180$ 218,424,247$ (41,462,933)$ 84.0%
City of Iowa City
Revenues by Fund
Fiscal Year 2024 through June 30, 2024
4
2023
Actual
2024
Budget 2024 Revised
2024
Actual Variance Percent
Budgetary Fund Revenues
Property Taxes 66,685,014$ 66,312,743$ 66,312,743$ 66,225,551$ (87,192)$ 99.9%
Other City Taxes:
TIF Revenues 4,086,247 4,083,031 4,059,847 4,304,866 245,019 106.0%
Gas/Electric Excise Taxes 783,781 680,064 680,064 748,119 68,055 110.0%
Mobile Home Taxes 52,975 56,797 56,797 47,992 (8,805) 84.5%
Hotel/Motel Taxes 1,885,263 1,708,100 1,708,100 2,043,186 335,086 119.6%
Utility Franchise Tax 1,116,963 1,151,500 1,151,500 982,969 (168,531) 85.4%
Subtotal 7,925,229 7,679,492 7,656,308 8,127,132 470,824 106.1%
Licenses, Permits, & Fees:
General Use Permits 104,127 102,610 102,610 99,282 (3,328) 96.8%
Food & Liquor Licenses 118,650 181,740 181,740 126,923 (54,817) 69.8%
Professional License 2,155 2,755 2,755 2,275 (480) 82.6%
Franchise Fees 508,934 540,200 540,200 593,710 53,510 109.9%
Construction Permits & Insp Fees 2,060,778 1,676,600 1,676,600 2,166,574 489,974 129.2%
Misc Lic & Permits 59,731 70,216 70,216 55,391 (14,826) 78.9%
Subtotal 2,854,375 2,574,121 2,574,121 3,044,155 470,034 118.3%
Intergovernmental:
Fed Intergovernmental Revenue 22,351,695 18,880,564 35,331,965 15,915,588 (19,416,377) 45.0%
Property Tax Credits 1,243,694 1,602,806 1,602,806 1,674,917 72,111 104.5%
Road Use Tax 10,346,324 9,900,316 9,900,316 10,580,120 679,804 106.9%
State 28E Agreements 2,200,799 2,632,892 2,957,892 2,408,480 (549,412) 81.4%
Operating Grants 71,122 55,875 55,875 68,697 12,822 122.9%
Disaster Assistance 15,297 - - 71,309 71,309 0.0%
Other State Grants 1,184,587 1,442,554 2,587,376 1,073,298 (1,514,078) 41.5%
Local 28E Agreements 1,259,516 1,410,659 1,410,659 1,428,012 17,353 101.2%
Subtotal 38,673,034 35,925,666 53,846,889 33,220,421 (20,626,468) 61.7%
Charges For Fees And Services:
Building & Development 2,631,328 532,214 532,214 663,935 131,721 124.7%
Police Services 101,476 80,000 80,000 100,897 20,897 126.1%
Animal Care Services 12,826 19,403 19,403 10,204 (9,199) 52.6%
Fire Services 9,060 9,300 9,300 13,380 4,080 143.9%
Transit Fees 1,054,035 927,000 64,500 64,504 4 100.0%
Culture & Recreation 637,499 594,123 594,123 659,725 65,602 111.0%
Misc Charges For Services 116,981 59,976 59,976 75,150 15,174 125.3%
Water Charges 10,477,522 10,555,850 10,555,850 11,003,126 447,276 104.2%
Wastewater Charges 12,332,334 12,359,703 12,359,703 12,794,159 434,456 103.5%
Refuse Charges 5,211,519 5,606,210 5,606,210 5,563,940 (42,270) 99.2%
Landfill Charges 6,594,015 6,148,000 6,148,000 7,153,795 1,005,795 116.4%
Storm Water Charges 1,729,888 1,880,000 1,880,000 1,885,926 5,926 100.3%
Parking Charges 5,595,020 5,825,255 5,825,255 5,691,281 (133,974) 97.7%
Subtotal 46,503,504 44,597,034 43,734,534 45,680,022 1,945,488 104.4%
Miscellaneous:
Code Enforcement 159,632 280,731 280,731 149,237 (131,494) 53.2%
Parking Fines 524,471 676,634 676,634 717,111 40,477 106.0%
Library Fines & Fees 1,576 1,000 1,000 780 (220) 78.0%
Contributions & Donations 586,167 532,735 551,051 565,276 14,225 102.6%
Printed Materials 18,676 20,340 20,340 21,173 833 104.1%
Animal Adoption 60,491 57,840 57,840 61,514 3,674 106.4%
Misc Merchandise 23,871 22,302 22,302 22,319 17 100.1%
Intra-City Charges 6,086,864 6,383,611 6,383,611 6,215,701 (167,910) 97.4%
Other Misc Revenue 1,616,048 936,093 2,866,093 1,406,109 (1,459,984) 49.1%
Special Assessments 2,003 1,381 1,381 753 (629) 54.5%
Subtotal 9,079,800$ 8,912,667$ 10,860,983$ 9,159,972$ (1,701,011)$ 84.3%
City of Iowa City
Revenues by Type
Fiscal Year 2024 through June 30, 2024
5
2023
Actual
2024
Budget 2024 Revised
2024
Actual Variance Percent
City of Iowa City
Revenues by Type
Fiscal Year 2024 through June 30, 2024
Use Of Money And Property:
Interest Revenues 5,948,797$ 1,663,327$ 1,663,327$ 10,128,915$ 8,465,588$ 609.0%
Rents 1,548,884 1,509,022 1,509,022 1,603,978 94,956 106.3%
Royalties & Commissions 99,854 126,915 126,915 107,306 (19,609) 84.5%
Subtotal 7,597,534 3,299,264 3,299,264 11,840,199 8,540,935 358.9%
Other Financial Sources:
Debt Sales 9,941,862 42,535,000 42,980,000 11,616,402 (31,363,598) 27.0%
Sale Of Assets 1,931,799 445,400 892,400 1,042,543 150,143 116.8%
Loans 461,420 442,867 442,867 519,342 76,475 117.3%
Subtotal 12,335,081 43,423,267 44,315,267 13,178,287 (31,136,980) 29.7%
Total Budgetary Revenues 191,653,572$ 212,724,254$ 232,600,109$ 190,475,740$ (42,124,369) 81.9%
Non-Budgetary Fund Revenues
Internal Service Funds 26,033,784$ 26,852,071$ 27,287,071$ 27,948,510$ 661,439$ 102.4%
Total Non-Budgetary Revenues 26,033,784$ 26,852,071$ 27,287,071$ 27,948,510$ 661,439$ 102.4%
Total Revenues - All Funds 217,687,356$ 239,576,325$ 259,887,180$ 218,424,250$ (41,462,930)$ 84.0%
6
2023
Actual
2024
Budget
2024
Revised
2024
Actual Variance Percent
Budgetary Fund Expenditures
General Fund
10** General Fund 63,194,004$ 68,071,131$ 85,970,773$ 71,402,564$ 14,568,209$ 83.1%
Special Revenue Funds
2100 Community Dev Block Grant 1,075,683 778,376 1,215,947 928,736 287,211 76.4%
2110 HOME 1,187,632 1,348,625 3,481,682 455,862 3,025,820 13.1%
2200 Road Use Tax Fund 6,976,684 7,792,239 8,056,137 7,448,175 607,962 92.5%
2300 Other Shared Revenue 2,653,065 30,654 2,616,911 951,049 1,665,862 36.3%
2350 Metro Planning Org of Johnson Co. 769,755 830,005 1,094,735 902,800 191,935 82.5%
2400 Employee Benefits 1,209,467 1,338,854 1,340,128 1,739,908 (399,780) 129.8%
2450 Emergency Levy Fund 566,870 468,850 468,850 533,815 (64,965) 113.9%
2500 Affordable Housing Fund 1,086,455 1,000,000 1,000,000 1,400,194 (400,194) 140.0%
2510 Iowa City Property Management 151,997 247,229 247,229 189,624 57,605 76.7%
26** Tax Increment Financing 3,013,704 2,192,030 2,292,083 2,161,320 130,763 94.3%
2820 SSMID-Downtown District 552,028 634,124 634,124 661,438 (27,314) 104.3%
Debt Service Fund
5*** Debt Service 13,165,630 13,210,690 13,245,690 13,189,955 55,735 99.6%
Enterprise Funds
710* Parking 4,050,511 4,359,209 4,431,752 4,136,591 295,161 93.3%
715* Mass Transit 8,876,777 10,333,648 15,181,854 9,841,779 5,340,075 64.8%
720* Wastewater 10,849,521 8,183,257 8,457,153 8,271,252 185,901 97.8%
730* Water 9,454,497 10,085,483 11,126,806 10,587,765 539,041 95.2%
7400 Refuse Collection 4,077,516 4,627,383 4,949,584 4,368,350 581,234 88.3%
750* Landfill 5,631,227 6,108,611 6,148,283 6,085,972 62,311 99.0%
7600 Airport 450,629 406,307 408,624 489,950 (81,326) 119.9%
7700 Storm Water 613,262 738,481 743,114 623,916 119,198 84.0%
79** Housing Authority 11,921,444 11,686,205 11,716,321 13,129,705 (1,413,384) 112.1%
Capital Project Funds
Governmental Projects 22,949,801 31,178,470 51,921,738 19,809,862 32,111,876 38.2%
Enterprise Projects 11,186,857 34,458,750 74,493,078 13,531,542 60,961,536 18.2%
Total Budgetary Expenditures 185,665,018$ 220,108,611$ 311,242,596$ 192,842,123$ 118,400,474$ 62.0%
Non-Budgetary Funds Expenditures
Internal Service Funds
810* Equipment 6,325,457$ 6,554,320$ 9,012,307$ 6,716,641$ 2,295,667$ 74.5%
8200 Risk Management 1,196,091 1,771,250 2,460,420 2,043,847 416,573 83.1%
830* Information Technology 2,785,766 3,275,051 3,438,459 3,231,658 206,801 94.0%
8400 Central Services 199,503 212,479 213,637 170,690 42,947 79.9%
8500 Health Insurance Reserves 10,659,783 12,271,023 12,271,023 10,606,787 1,664,236 86.4%
8600 Dental Insurance Reserves 386,892 382,521 382,521 399,145 (16,624) 104.3%
Total Non-Budgetary Expenditures 21,553,492$ 24,466,644$ 27,778,367$ 23,168,767$ 4,609,600$ 83.4%
Total Expenditures - All Funds 207,218,510$ 244,575,255$ 339,020,963$ 216,010,890$ 123,010,073$ 63.7%
City of Iowa City
Expenditures by Fund
Fiscal Year 2024 through June 30, 2024
7
2023
Actual
2024
Budget
2024
Revised
2024
Actual Variance Percent
Budgetary Funds Expenditures
General Fund
10** General Fund
City Council 174,794$ 178,611$ 178,611$ 181,634$ (3,023)$ 101.7%
City Clerk 558,189 624,775 668,862$ 633,423 35,439 94.7%
City Attorney 896,859 914,555 927,296$ 942,326 (15,030) 101.6%
City Manager 4,623,699 5,148,457 11,005,597$ 9,891,844 1,113,753 89.9%
Finance 4,168,894 5,090,596 5,414,501$ 4,577,205 837,296 84.5%
Police 15,682,533 17,346,723 18,033,068$ 16,533,694 1,499,374 91.7%
Fire 9,506,985 10,313,473 10,339,970$ 9,861,645 478,325 95.4%
Parks & Recreation 10,338,539 10,567,119 10,773,603$ 10,237,419 536,184 95.0%
Library 7,226,829 7,877,340 7,981,403$ 7,561,093 420,310 94.7%
Senior Center 1,053,569 1,154,420 1,184,397$ 1,067,416 116,981 90.1%
Neighborhood & Development Services 5,162,196 4,830,294 15,361,232$ 6,013,348 9,347,884 39.1%
Public Works 3,092,286 3,339,887 3,398,536$ 3,261,240 137,296 96.0%
Transportation & Resource Management 708,629 684,881 703,697$ 640,280 63,417 91.0%
Total General Fund 63,194,004 68,071,131 85,970,773 71,402,564 14,568,209 83.1%
Special Revenue Funds
2100 Community Dev Block Grant
Neighborhood & Development Services 1,075,683 778,376 1,215,947 928,736 287,211 76.4%
2110 HOME
Neighborhood & Development Services 1,187,632 1,348,625 3,481,682 455,862 3,025,820 13.1%
2200 Road Use Tax Fund
Public Works 6,976,684 7,792,239 8,056,137 7,448,175 607,962 92.5%
2300 Other Shared Revenue
Neighborhood & Development Services 2,653,065 30,654 2,616,911 951,049 1,665,862 36.3%
2350 Metro Planning Org of Johnson Co
Neighborhood & Development Services 769,755 830,005 1,094,735 902,800 191,935 82.5%
2400 Employee Benefits
Finance 1,209,467 1,338,854 1,340,128 1,739,908 (399,780) 129.8%
2450 Emergency Levy Fund
City Manager 566,870 468,850 468,850 533,815 (64,965) 113.9%
2500 Affordable Housing Fund
Neighborhood & Development Services 1,086,455 1,000,000 1,000,000 1,400,194 (400,194) 140.0%
2510 Iowa City Property Management
Neighborhood & Development Services 151,997 247,229 247,229 189,624 57,605 76.7%
26** Tax Increment Financing
Finance 3,013,704 2,192,030 2,292,083 2,161,320 130,763 94.3%
2820 SSMID-Downtown District
Finance 552,028 634,124 634,124 661,438 (27,314) 104.3%
Total Special Revenue Funds 19,243,340 16,660,986 22,447,826 17,372,920 5,074,906 77.4%
Debt Service Fund
5*** Debt Service
Finance 13,165,630 13,210,690 13,245,690 13,189,955 55,735 99.6%
Total Debt Service Fund 13,165,630 13,210,690 13,245,690 13,189,955 55,735 99.6%
City of Iowa City
Expenditures by Fund by Department
Fiscal Year 2024 through June 30, 2024
8
2023
Actual
2024
Budget
2024
Revised
2024
Actual Variance Percent
City of Iowa City
Expenditures by Fund by Department
Fiscal Year 2024 through June 30, 2024
Enterprise Funds
710* Parking
Transportation & Resource Management 4,050,511$ 4,359,209$ 4,431,752$ 4,136,591$ 295,161$ 93.3%
715* Mass Transit
Transportation & Resource Management 8,876,777 10,333,648 15,181,854 9,841,779 5,340,075 64.8%
720* Wastewater
Public Works 10,849,521 8,183,257 8,457,153 8,271,252 185,901 97.8%
730* Water
Public Works 9,454,497 10,085,483 11,126,806 10,587,765 539,041 95.2%
7400 Refuse Collection
Transportation & Resource Management 4,077,516 4,627,383 4,949,584 4,368,350 581,234 88.3%
750* Landfill
Transportation & Resource Management 5,631,227 6,108,611 6,148,283 6,085,972 62,311 99.0%
7600 Airport
Airport Operations 450,629 406,307 408,624 489,950 (81,326) 119.9%
7700 Storm Water
Public Works 613,262 738,481 743,114 623,916 119,198 84.0%
79** Housing Authority
Neighborhood & Development Services 11,921,444 11,686,205 11,716,321 13,129,705 (1,413,384) 112.1%
Total Enterprise Funds 55,925,386 56,528,584 63,163,491 57,535,280 5,628,211 91.1%
Capital Project Funds
Governmental Projects 22,949,801 31,178,470 51,921,738 19,809,862 32,111,876 38.2%
Enterprise Projects 11,186,857 34,458,750 74,493,078 13,531,542 60,961,536 18.2%
Total Capital Project Funds 34,136,658 65,637,220 126,414,816 33,341,404 93,073,412 26.4%
Total Budgetary Expenditures 185,665,018$ 220,108,611$ 311,242,596$ 192,842,123$ 118,400,474$ 62.0%
Non-Budgetary Funds Expenditures
Internal Service Funds
810* Equipment
Public Works 6,325,457$ 6,554,320$ 9,012,307$ 6,716,641$ 2,295,667$ 74.5%
8200 Risk Management
Finance 1,196,091 1,771,250 2,460,420 2,043,847 416,573 83.1%
830* Information Technology
Finance 2,785,766 3,275,051 3,438,459 3,231,658 206,801 94.0%
8400 Central Services
Finance 199,503 212,479 213,637 170,690 42,947 79.9%
8500 Health Insurance Reserves
Finance 10,659,783 12,271,023 12,271,023 10,606,787 1,664,236 86.4%
8600 Dental Insurance Reserves
Finance 386,892 382,521 382,521 399,145 (16,624) 104.3%
Total Internal Service Funds 21,553,492 24,466,644 27,778,367 23,168,767 4,609,600 83.4%
Total Non-Budgetary Expenditures 21,553,492$ 24,466,644$ 27,778,367$ 23,168,767$ 4,609,600$ 83.4%
Total Expenditures - All Funds 207,218,510$ 244,575,255$ 339,020,963$ 216,010,890$ 123,010,073$ 63.7%
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