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Home My WebLink AboutFY2025 1st Qtr Financial SummaryDate: November 12,2024 To: City Manager, City Council From: Angie Ogden, Budget Management Analyst Re: Quarterly Financial Summary for Period Ending September 30, 2024 Introduction Attached to this memorandum are the City’s quarterly financial reports as of September 30, 2024. The quarterly financial report includes combined summaries of all fund balances, revenues, and expenditures for fiscal year 2025 through the end of the first quarter, which is 25% of the way through the fiscal year. Below are some of the highlights from this quarter’s financial activity. 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 25% of budget since we have completed one-fourth of the fiscal year; however, due to accruals back to the previous year, many of these percentages are below 25%. For the property tax supported funds, such as the General fund, Debt Service fund, the Employee Benefits fund, and the Emergency Levy Fund, their actual revenues are at 9.7%, 5.5%, 4.8% and 0.0%, respectively. These funds have received a lower percentage of their revenue, because the City’s property tax receipts are due twice during the year, October and April, and the City will receive the majority of its property tax revenue at that time. This is not the sam e for the City’s enterprise funds. The City’s enterprise funds are primarily supported by service charges which cause their actual revenues to be closer to the 25% mark. For instance, on page 4, the Water fund is at 21.4%, the Wastewater fund is at 19.4%, and the Landfill is at 27.6%. The Water and Wastewater funds’ revenues are under the 25% benchmark due to the accrual of revenues back to last fiscal year. Other funds with budget anomalies worth noting: the CDBG and HOME funds has actual revenues at 33.6% and 5.1%, respectively, due to the timing of receipt of federal monies. The Transit fund has actual revenues at 8.2% due the timing of federal grant receipts. Additionally, the Governmental Projects fund (page 4) has revenues at 4.8% due to the timing of grant receipts related to projects as well as the timing of the Bond Issuance that does not take place until the spring. The Enterprise Projects fund (page 4) has revenues at 0.6% due to the timing of the Bond Issuance that does not take place until the spring. The combined total actual revenues for all budgetary funds through September are $26,761,892 or 10.0% of budget. Overall, the City’s revenues are not substantially different than projected, and the anomalies and budget variances can be explained. 1 Expenditure Analysis This expenditure analysis pertains to the reports, Expenditures by Fund and Expenditures by Fund by Department on pages 7-9. The analysis of the City’s expenditures for fiscal year 2025 through September is similar to the analysis for the City’s revenues. We generally expect the actual expenditure levels to be around 25% of budget at this time of year. Some of the funds have expenditure activity through the first quarter significantly above or below the 25% mark. The following funds have a significant expenditure variance from 25%: • Affordable Housing fund is at 50.8% due to payments made to the Housing Trust Fund of Johnson County. • Water fund is at 34.3% due to bond principal and interest payments paid in July. • Housing Authority is at 32.7% due to higher-than-expected landlord rents as well as building improvements. • Governmental Projects expenditures are at 7.0% and Enterprise Projects expenditures are at 1.7% because many of the capital projects are scheduled for construction next Spring. Overall, the combined total actual expenditures for all budgetary funds through September are $44,536,386 or 12.4% of budget. Overall, the City’s expenditures through the first quarter have a few major anomalies; however, these can be explained and are not unusual. Conclusion Generally, there are no major concerns to report with the City’s fund balances at September 30. Fund balances appear healthy. Additional information is available from the Finance Department upon request. 2 Beginning Ending Restricted, Unassigned Fund Year-to-Date Transfers Year-to-Date Transfers Fund Committed, Fund Balance Revenues In Expenditures Out Balance Assigned Balance Budgetary Funds General Fund 10** General Fund 66,253,379$ 6,084,141$ 3,427,850$ 16,956,387$ 1,557,498$ 57,251,485$ 48,524,446$ 8,727,039$ Special Revenue Funds 2100 Community Dev Block Grant 332 418,663 - 250,483 - 168,512 - 168,512 2110 HOME (526) 155,543 - 79,749 - 75,267 - 75,267 2200 Road Use Tax Fund 6,740,530 1,989,245 174,275 1,743,863 805,833 6,354,353 - 6,354,353 2300 Other Shared Revenue 3,545,052 32,644 - 1,250,798 - 2,326,898 - 2,326,898 2350 Metro Planning Org of J.C. 633,511 88,680 98,650 210,664 - 610,177 - 610,177 2400 Employee Benefits 3,577,051 735,190 - 615,514 3,556,050 140,677 - 140,677 2450 Emergency Levy Fund 1,192,635 - - 250 - 1,192,385 - 1,192,385 2500 Affordable Housing Fund 7,372,091 68,712 257,500 523,330 - 7,174,973 - 7,174,973 2510 Peninsula Apartments 408,086 72,101 - 34,772 - 445,416 - 445,416 26** Tax Increment Financing 867,240 110,127 - 34,850 - 942,517 - 942,517 2820 SSMID-Downtown District - 11,746 - - - 11,746 - 11,746 Debt Service Fund 5*** Debt Service 7,487,853 664,443 - 71,389 - 8,080,907 - 8,080,907 Enterprise Funds 710* Parking 2,115,697 1,907,015 375,000 1,221,574 698,710 2,477,428 578,285 1,899,143 715* Mass Transit 13,531,551 648,141 1,061,800 1,550,229 6,250 13,685,013 12,513,212 1,171,801 720* Wastewater 22,125,720 2,597,202 375,588 2,196,296 500,062 22,402,152 2,155,006 20,247,146 730* Water 15,771,221 2,618,884 592,503 3,692,482 839,254 14,450,873 5,426,151 9,024,722 7400 Refuse Collection 2,790,929 988,523 1,267 1,094,223 - 2,686,496 - 2,686,496 750* Landfill 22,508,794 2,197,313 122,454 1,426,584 - 23,401,977 19,251,683 4,150,294 7600 Airport 195,212 105,078 25,000 115,356 (3,536) 213,470 112,162 101,308 7700 Storm Water 1,677,134 366,536 275,266 137,518 335,000 1,846,418 808,215 1,038,203 79** Housing Authority 7,182,298 3,429,925 - 4,096,272 7,675 6,508,276 - 6,508,276 Capital Project Funds Governmental Projects 31,810,109 1,060,034 1,103,071 5,573,258 - 28,399,955 - 28,399,955 Enterprise Projects 21,723,840 412,008 412,573 1,660,547 - 20,887,874 - 20,887,874 Total Budgetary Funds 239,509,739$ 26,761,892$ 8,302,797$ 44,536,386$ 8,302,797$ 221,735,246$ 89,369,160$ 132,366,086$ Non-Budgetary Funds Internal Service Funds 810* Equipment 23,192,318$ 2,092,099$ -$ 1,142,151$ -$ 24,142,266$ 21,445,554$ 2,696,712$ 8200 Risk Management 4,021,093 1,519,199 - 401,984 - 5,138,308 - 5,138,308 830* Information Technology 4,070,589 524,265 25,000 907,907 25,000 3,686,947 1,902,224 1,784,723 8400 Central Services 933,947 49,591 - 42,121 - 941,416 - 941,416 8500 Health Insurance Reserves 19,414,739 3,514,584 - 2,430,201 - 20,499,122 9,523,167 10,975,955 8600 Dental Insurance Reserves 597,941 115,100 - 90,246 - 622,795 - 622,795 Total Non-Budgetary Funds 52,230,627$ 7,814,837$ 25,000$ 5,014,610$ 25,000$ 55,030,854$ 32,870,946$ 22,159,908$ Total All Funds 291,740,366$ 34,576,729$ 8,327,797$ 49,550,996$ 8,327,797$ 276,766,100$ 122,240,106$ 154,525,994$ City of Iowa City Fund Summary Fiscal Year 2025 through Septemeber 30, 2024 3 2024 Actual 2025 Budget 2025 Revised 2025 Actual Variance Percent Budgetary Fund Revenues General Fund 10** General Fund 63,144,267$ 62,533,285$ 62,533,285$ 6,084,141$ (56,449,144)$ 9.7% Special Revenue Funds 2100 Community Dev Block Grant 928,673 886,567 1,244,400 418,663 (825,737) 33.6% 2110 HOME 455,291 721,492 3,061,650 155,543 (2,906,107) 5.1% 2200 Road Use Tax Fund 11,039,422 10,649,900 10,649,900 1,989,245 (8,660,655) 18.7% 2300 Other Shared Revenue 653,948 30,000 715,955 32,644 (683,311) 4.6% 2350 Metro Planning Org of Johnson Co 574,367 468,000 468,000 88,680 (379,320) 18.9% 2400 Employee Benefits 14,864,849 15,335,900 15,335,900 735,190 (14,600,710) 4.8% 2450 Emergency Levy Fund 874,504 9,200 9,200 - (9,200) 0.0% 2500 Affordable Housing Fund 372,575 - - 68,712 68,712 0.0% 2510 Iowa City Property Management 252,224 226,575 226,575 72,101 (154,474) 31.8% 26** Tax Increment Financing 4,417,348 4,388,100 4,388,100 110,127 (4,277,973) 2.5% 2820 SSMID-Downtown District 661,438 677,000 677,000 11,746 (665,254) 1.7% Debt Service Fund 5*** Debt Service 11,716,728 11,988,600 11,988,600 664,443 (11,324,157) 5.5% Enterprise Funds 710* Parking 5,601,351 8,963,815 8,963,815 1,907,015 (7,056,801) 21.3% 715* Mass Transit 7,198,324 7,928,300 7,928,300 648,141 (7,280,159) 8.2% 720* Wastewater 13,901,646 13,353,500 13,353,500 2,597,202 (10,756,298) 19.4% 730* Water 12,734,762 12,250,200 12,250,200 2,618,884 (9,631,316) 21.4% 7400 Refuse Collection 5,167,200 5,142,300 5,142,300 988,523 (4,153,777) 19.2% 750* Landfill 8,795,022 7,964,900 7,964,900 2,197,313 (5,767,587) 27.6% 7600 Airport 450,040 440,500 440,500 105,078 (335,422) 23.9% 7700 Storm Water 1,950,216 1,916,800 1,916,800 366,536 (1,550,264) 19.1% 79** Housing Authority 14,147,197 12,892,728 12,892,728 3,429,925 (9,462,803) 26.6% Capital Project Funds Governmental Projects 14,097,960 16,535,200 21,988,990 1,060,034 (20,928,956) 4.8% Enterprise Projects 2,335,250 28,650,000 63,759,935 412,008 (63,347,927) 0.6% Total Budgetary Revenues 196,334,603$ 223,952,862$ 267,900,533$ 26,761,892$ (241,138,641)$ 10.0% Non-Budgetary Fund Revenues Internal Service Funds 810* Equipment 8,814,965$ 8,654,600$ 8,654,600$ 2,092,099$ (6,562,501)$ 24.2% 8200 Risk Management 1,803,542 1,126,200$ 1,126,200$ 1,519,199$ 392,999 134.9% 830* Information Technology 3,020,650 2,768,201$ 2,768,201$ 524,265$ (2,243,936) 18.9% 8400 Central Services 226,162 143,800$ 143,800$ 49,591$ (94,209) 34.5% 8500 Health Insurance Reserves 13,615,421 14,353,600$ 14,353,600$ 3,514,584$ (10,839,016) 24.5% 8600 Dental Insurance Reserves 467,770 463,100$ 463,100$ 115,100$ (348,000) 24.9% Total Non-Budgetary Revenues 27,948,510$ 27,509,501$ 27,509,501$ 7,814,837$ (19,694,664)$ 28.4% Total Revenues - All Funds 224,283,113$ 251,462,363$ 295,410,034$ 34,576,729$ (260,833,305)$ 11.7% City of Iowa City Revenues by Fund Fiscal Year 2025 through Septemeber 30, 2024 4 2024 Actual 2025 Budget 2025 Revised 2025 Actual Variance Percent Budgetary Fund Revenues Property Taxes 66,225,551$ 68,821,500$ 68,821,500$ 3,453,093$ (65,368,407)$ 5.0% Other City Taxes: TIF Revenues 4,304,866 4,388,100 4,388,100 102,042 (4,286,058) 2.3% Gas/Electric Excise Taxes 748,119 656,400 656,400 - (656,400) 0.0% Mobile Home Taxes 47,992 52,800 52,800 3,535 (49,265) 6.7% Hotel/Motel Taxes 2,043,186 1,750,400 1,750,400 186,842 (1,563,558) 10.7% Utility Franchise Tax 982,969 1,116,700 1,116,700 - (1,116,700) 0.0% Subtotal 8,127,132 7,964,400 7,964,400 292,419 (7,671,981) 3.7% Licenses, Permits, & Fees: General Use Permits 99,282 107,080 107,080 9,093 (97,987) 8.5% Food & Liquor Licenses 126,923 116,700 116,700 25,562 (91,138) 21.9% Professional License 2,275 2,000 2,000 325 (1,675) 16.3% Franchise Fees 593,710 470,000 470,000 3,314 (466,686) 0.7% Construction Permits & Insp Fees 2,166,574 1,836,100 1,836,100 495,835 (1,340,265) 27.0% Misc Lic & Permits 55,391 61,000 61,000 15,292 (45,708) 25.1% Subtotal 3,044,155 2,592,880 2,592,880 549,420 (2,043,460) 21.2% Intergovernmental: Fed Intergovernmental Revenue 21,891,003 48,997,706 56,476,157 4,023,346 (52,452,810) 7.1% Property Tax Credits 1,674,917 1,404,500 1,404,500 - (1,404,500) 0.0% Road Use Tax 10,580,120 10,500,000 10,500,000 1,974,592 (8,525,408) 18.8% State 28E Agreements 2,408,480 2,508,500 3,033,500 - (3,033,500) 0.0% Operating Grants 68,697 54,000 54,000 - (54,000) 0.0% Disaster Assistance 71,309 - - - - 0.0% Other State Grants 1,037,961 685,800 2,586,720 184,533 (2,402,187) 7.1% Local 28E Agreements 1,428,012 1,418,105 1,418,105 605,831 (812,274) 42.7% Subtotal 39,160,500 65,568,611 75,472,982 6,788,303 (68,684,679) 9.0% Charges For Fees And Services: Building & Development 663,935 478,850 478,850 133,848 (345,002) 28.0% Police Services 100,897 80,000 80,000 27,671 (52,329) 34.6% Animal Care Services 10,204 12,800 12,800 3,770 (9,030) 29.5% Fire Services 13,380 9,100 9,100 1,140 (7,960) 12.5% Transit Fees 64,504 - - - - #DIV/0! Culture & Recreation 659,725 644,100 644,100 181,827 (462,273) 28.2% Misc Charges For Services 75,150 67,500 67,500 15,849 (51,651) 23.5% Water Charges 11,003,126 11,084,600 11,084,600 2,234,215 (8,850,385) 20.2% Wastewater Charges 12,794,159 13,207,400 13,207,400 2,405,184 (10,802,216) 18.2% Refuse Charges 5,563,940 5,759,100 5,759,100 1,122,540 (4,636,560) 19.5% Landfill Charges 7,144,380 6,900,000 6,900,000 1,850,495 (5,049,505) 26.8% Storm Water Charges 1,885,926 1,900,000 1,900,000 351,139 (1,548,861) 18.5% Parking Charges 5,723,759 9,372,135 9,372,135 2,030,436 (7,341,699) 21.7% Subtotal 45,703,085 49,515,585 49,515,585 10,358,113 (39,157,472) 20.9% Miscellaneous: Code Enforcement 149,237 161,700 161,700 34,778 (126,922) 21.5% Parking Fines 684,633 817,000 817,000 181,979 (635,021) 22.3% Library Fines & Fees 780 1,000 1,000 165 (835) 16.5% Contributions & Donations 582,187 322,800 322,800 61,389 (261,411) 19.0% Printed Materials 21,173 17,300 17,300 5,100 (12,200) 29.5% Animal Adoption 61,514 60,500 60,500 18,950 (41,550) 31.3% Misc Merchandise 22,319 21,400 21,400 2,130 (19,270) 10.0% Intra-City Charges 6,215,701 6,782,100 6,782,100 1,714,304 (5,067,796) 25.3% Other Misc Revenue 1,317,856 866,801 2,645,411 231,325 (2,414,086) 8.7% Special Assessments 753 2,000 2,000 - (2,000) 0.0% Subtotal 9,056,152$ 9,052,601$ 10,831,211$ 2,250,120$ (8,581,091)$ 20.8% City of Iowa City Revenues by Type Fiscal Year 2025 through Septemeber 30, 2024 5 2024 Actual 2025 Budget 2025 Revised 2025 Actual Variance Percent City of Iowa City Revenues by Type Fiscal Year 2025 through Septemeber 30, 2024 Use Of Money And Property: Interest Revenues 10,128,915$ 1,642,310$ 1,642,310$ 1,870,632$ 228,322$ 113.9% Rents 1,603,520 1,529,075 1,529,075 366,613 (1,162,462) 24.0% Royalties & Commissions 107,306 121,000 121,000 30,177 (90,823) 24.9% Subtotal 11,839,741 3,292,385 3,292,385 2,267,422 (1,024,963) 68.9% Other Financial Sources: Debt Sales 11,616,402 16,350,000 48,614,690 204,004 (48,410,686) 0.4% Sale Of Assets 1,042,543 420,900 420,900 23,819 (397,081) 5.7% Loans 519,342 374,000 374,000 575,180 201,180 153.8% Subtotal 13,178,287 17,144,900 49,409,590 803,003 (48,606,587) 1.6% Total Budgetary Revenues 196,334,604$ 223,952,862$ 267,900,533$ 26,761,893$ (241,138,640) 10.0% Non-Budgetary Fund Revenues Internal Service Funds 27,948,510$ 27,509,501$ 27,509,501$ 7,814,837$ (19,694,664)$ 28.4% Total Non-Budgetary Revenues 27,948,510$ 27,509,501$ 27,509,501$ 7,814,837$ (19,694,664)$ 28.4% Total Revenues - All Funds 224,283,113$ 251,462,363$ 295,410,034$ 34,576,730$ (260,833,304)$ 11.7% 6 2024 Actual 2025 Budget 2025 Revised 2025 Actual Variance Percent Budgetary Fund Expenditures General Fund 10** General Fund 71,436,486$ 71,092,899$ 80,698,298$ 16,956,387$ 63,741,911$ 21.0% Special Revenue Funds 2100 Community Dev Block Grant 928,736 801,106 1,158,939 250,483 908,456 21.6% 2110 HOME 455,862 588,371 2,928,529 79,749 2,848,780 2.7% 2200 Road Use Tax Fund 7,448,448 7,965,300 7,965,300 1,743,863 6,221,437 21.9% 2300 Other Shared Revenue 970,786 123,700 4,288,607 1,250,798 3,037,809 29.2% 2350 Metro Planning Org of Johnson Co. 902,800 862,600 980,710 210,664 770,046 21.5% 2400 Employee Benefits 1,739,908 1,146,925 1,146,925 615,514 531,411 53.7% 2450 Emergency Levy Fund 514,078 125,000 179,773 250 179,523 0.1% 2500 Affordable Housing Fund 1,400,194 1,030,000 1,030,000 523,330 506,670 50.8% 2510 Iowa City Property Management 189,624 172,775 297,775 34,772 263,003 11.7% 26** Tax Increment Financing 2,161,320 2,727,000 2,727,000 34,850 2,692,150 1.3% 2820 SSMID-Downtown District 661,438 677,000 677,000 - 677,000 0.0% Debt Service Fund 5*** Debt Service 13,189,955 13,787,740 13,787,740 71,389 13,716,351 0.5% Enterprise Funds 710* Parking 4,141,962 5,162,374 5,162,374 1,221,574 3,940,800 23.7% 715* Mass Transit 9,882,655 11,955,550 12,077,550 1,550,229 10,527,321 12.8% 720* Wastewater 8,271,541 12,714,600 12,814,600 2,196,296 10,618,304 17.1% 730* Water 10,590,605 10,356,952 10,770,053 3,692,482 7,077,571 34.3% 7400 Refuse Collection 4,368,350 4,731,500 4,806,500 1,094,223 3,712,277 22.8% 750* Landfill 6,085,972 6,079,450 6,134,503 1,426,584 4,707,919 23.3% 7600 Airport 489,950 436,550 436,550 115,356 321,194 26.4% 7700 Storm Water 623,916 681,900 681,900 137,518 544,382 20.2% 79** Housing Authority 13,129,901 12,469,766 12,514,766 4,096,272 8,418,494 32.7% Capital Project Funds Governmental Projects 20,533,547 41,047,794 79,353,654 5,573,258 73,780,396 7.0% Enterprise Projects 14,032,510 34,970,500 97,829,886 1,660,547 96,169,339 1.7% Total Budgetary Expenditures 194,150,542$ 241,707,352$ 360,448,932$ 44,536,386$ 315,912,546$ 12.4% Non-Budgetary Funds Expenditures Internal Service Funds 810* Equipment 6,700,574$ 7,894,700$ 9,780,142$ 1,142,151$ 8,637,991$ 11.7% 8200 Risk Management 2,043,847 1,320,700 1,320,700 401,984 918,716 30.4% 830* Information Technology 3,231,658 3,175,188 3,379,416 907,907 2,471,509 26.9% 8400 Central Services 170,690 218,900 237,452 42,121 195,331 17.7% 8500 Health Insurance Reserves 10,601,094 12,258,500 12,258,500 2,430,201 9,828,299 19.8% 8600 Dental Insurance Reserves 399,145 410,200 410,200 90,246 319,954 22.0% Total Non-Budgetary Expenditures 23,147,008$ 25,278,188$ 27,386,410$ 5,014,610$ 22,371,800$ 18.3% Total Expenditures - All Funds 217,297,550$ 266,985,540$ 387,835,342$ 49,550,996$ 338,284,346$ 12.8% City of Iowa City Expenditures by Fund Fiscal Year 2025 through Septemeber 30, 2024 7 2024 Actual 2025 Budget 2025 Revised 2025 Actual Variance Percent Budgetary Funds Expenditures General Fund 10** General Fund City Council 181,634$ 192,500$ 192,500$ 48,752$ 143,748$ 25.3% City Clerk 633,423 636,705 636,705 111,299 525,406 17.5% City Attorney 942,326 965,048 1,015,048 195,907 819,141 19.3% City Manager 9,910,047 6,156,340 6,988,387 1,385,892 5,602,495 19.8% Finance 4,577,205 5,529,700 5,529,700 1,971,252 3,558,448 35.6% Police 16,522,474 17,809,695 18,172,854 3,539,691 14,633,163 19.5% Fire 9,879,949 11,178,075 11,180,088 2,273,114 8,906,974 20.3% Parks & Recreation 10,243,118 10,639,040 10,651,410 2,420,183 8,231,227 22.7% Library 7,561,093 7,887,900 7,887,900 1,810,568 6,077,332 23.0% Senior Center 1,067,416 1,147,250 1,165,750 223,485 942,265 19.2% Neighborhood & Development Services 6,013,348 4,868,346 13,172,656 2,192,772 10,979,884 16.6% Public Works 3,264,174 3,668,600 3,691,600 694,142 2,997,458 18.8% Transportation & Resource Management 640,280 413,700 413,700 89,331 324,369 21.6% Total General Fund 71,436,486 71,092,899 80,698,298 16,956,387 63,741,911 21.0% Special Revenue Funds 2100 Community Dev Block Grant Neighborhood & Development Services 928,736 801,106 1,158,939 250,483 908,456 21.6% 2110 HOME Neighborhood & Development Services 455,862 588,371 2,928,529 79,749 2,848,780 2.7% 2200 Road Use Tax Fund Public Works 7,448,448 7,965,300 7,965,300 1,743,863 6,221,437 21.9% 2300 Other Shared Revenue Neighborhood & Development Services 970,786 123,700 4,288,607 1,250,798 3,037,809 29.2% 2350 Metro Planning Org of Johnson Co Neighborhood & Development Services 902,800 862,600 980,710 210,664 770,046 21.5% 2400 Employee Benefits Finance 1,739,908 1,146,925 1,146,925 615,514 531,411 53.7% 2450 Emergency Levy Fund City Manager 514,078 125,000 179,773 250 179,523 0.1% 2500 Affordable Housing Fund Neighborhood & Development Services 1,400,194 1,030,000 1,030,000 523,330 506,670 50.8% 2510 Iowa City Property Management Neighborhood & Development Services 189,624 172,775 297,775 34,772 263,003 11.7% 26** Tax Increment Financing Finance 2,161,320 2,727,000 2,727,000 34,850 2,692,150 1.3% 2820 SSMID-Downtown District Finance 661,438 677,000 677,000 - 677,000 0.0% Total Special Revenue Funds 17,373,193 16,219,777 23,380,558 4,744,273 18,636,285 20.3% Debt Service Fund 5*** Debt Service Finance 13,189,955 13,787,740 13,787,740 71,389 13,716,351 0.5% Total Debt Service Fund 13,189,955 13,787,740 13,787,740 71,389 13,716,351 0.5% City of Iowa City Expenditures by Fund by Department Fiscal Year 2025 through Septemeber 30, 2024 8 2024 Actual 2025 Budget 2025 Revised 2025 Actual Variance Percent City of Iowa City Expenditures by Fund by Department Fiscal Year 2025 through Septemeber 30, 2024 Enterprise Funds 710* Parking Transportation & Resource Management 4,141,962$ 5,162,374$ 5,162,374$ 1,221,574$ 3,940,800$ 23.7% 715* Mass Transit Transportation & Resource Management 9,882,655 11,955,550 12,077,550 1,550,229 10,527,321 12.8% 720* Wastewater Public Works 8,271,541 12,714,600 12,814,600 2,196,296 10,618,304 17.1% 730* Water Public Works 10,590,605 10,356,952 10,770,053 3,692,482 7,077,571 34.3% 7400 Refuse Collection Transportation & Resource Management 4,368,350 4,731,500 4,806,500 1,094,223 3,712,277 22.8% 750* Landfill Transportation & Resource Management 6,085,972 6,079,450 6,134,503 1,426,584 4,707,919 23.3% 7600 Airport Airport Operations 489,950 436,550 436,550 115,356 321,194 26.4% 7700 Storm Water Public Works 623,916 681,900 681,900 137,518 544,382 20.2% 79** Housing Authority Neighborhood & Development Services 13,129,901 12,469,766 12,514,766 4,096,272 8,418,494 32.7% Total Enterprise Funds 57,584,852 64,588,642 65,398,796 15,530,533 49,868,263 23.7% Capital Project Funds Governmental Projects 20,533,547 41,047,794 79,353,654 5,573,258 73,780,396 7.0% Enterprise Projects 14,032,510 34,970,500 97,829,886 1,660,547 96,169,339 1.7% Total Capital Project Funds 34,566,057 76,018,294 177,183,540 7,233,804 169,949,736 4.1% Total Budgetary Expenditures 194,150,542$ 241,707,352$ 360,448,932$ 44,536,386$ 315,912,546$ 12.4% Non-Budgetary Funds Expenditures Internal Service Funds 810* Equipment Public Works 6,700,574$ 7,894,700$ 9,780,142$ 1,142,151$ 8,637,991$ 11.7% 8200 Risk Management Finance 2,043,847 1,320,700 1,320,700 401,984 918,716 30.4% 830* Information Technology Finance 3,231,658 3,175,188 3,379,416 907,907 2,471,509 26.9% 8400 Central Services Finance 170,690 218,900 237,452 42,121 195,331 17.7% 8500 Health Insurance Reserves Finance 10,601,094 12,258,500 12,258,500 2,430,201 9,828,299 19.8% 8600 Dental Insurance Reserves Finance 399,145 410,200 410,200 90,246 319,954 22.0% Total Internal Service Funds 23,147,008 25,278,188 27,386,410 5,014,610 22,371,800 18.3% Total Non-Budgetary Expenditures 23,147,008$ 25,278,188$ 27,386,410$ 5,014,610$ 22,371,800$ 18.3% Total Expenditures - All Funds 217,297,550$ 266,985,540$ 387,835,342$ 49,550,996$ 338,284,346$ 12.8% 9