HomeMy WebLinkAboutFY2025 2nd Qtr Financial SummaryDate: January 21,2025
To: City Manager, City Council
From: Angie Ogden, Budget Management Analyst
Re: Quarterly Financial Summary for Period Ending December 31, 2024
Introduction
Attached to this memorandum are the City’s quarterly financial reports as of December 31, 2024.
The quarterly financial reports include combined summaries of all fund balances, revenues, and
expenditures for fiscal year 2025 through the end of the second quarter, which is 50% 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 50% of budget
since we have completed one-half of the fiscal year; however, due to accruals back to the previous
year and quarter, many of these percentages are below 50%.
Funds with budget anomalies on page 4 worth noting:
CDBG fund has actual revenues at 35.3% and HOME 7.7% due to timing of grant receipts.
Other Shared Revenue at 9.7% due timing of grant receipts.
Transit fund has actual revenues at 17.0% due to the timing of receipt for the federal
operating grant.
Risk Management fund has actual revenues at 145.2% due to the entries made for loss
reserve payments to intra-city charges.
Governmental Projects fund has revenues of 8.9% and Enterprise Projects fund has
revenues of 2.5% due to timing of funding for CIP projects through grants and bond sales.
On page 5, an example of revenue that is below the 50% mark due to accruals include Utility
Franchise Taxes at 27.0% under Other City Taxes. This revenue source is received quarterly and
had the first receipt during the fiscal year accrued back to last fiscal year. The report appears as
if this revenue is behind budget projections; however, this revenue source is in line with last year.
Other revenues on page 5 that are either above or below the 50% mark due to the timing of grants,
28E agreements or contributions receipts include Federal Intergovernmental Revenue at 13.2%,
State 28E Agreements at 84.6%, Operating Grants at 121.5%, Other State Grants at 14.5% and
Local 28E Agreements at 65.0%.
Additionally, other revenues above or below 50% of budget include:
Interest Revenues at 319.8% due to higher interest allocations than expected.
Transit Fees at 0.0% due to fare free riding.
The combined total actual revenues for all budgetary funds through December are $92,423,864
or 34.5% 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 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 2025 through December is similar to the analysis for the City’s revenues. We generally
expect the actual expenditure levels to be around 50% of budget at this time of year.
Some of the funds have expenditure activity through the second quarter that differs significantly
from the 50% mark. The following funds have a significant expenditure variance above or below
50%:
.
Emergency Levy funds are at .1% due to timing of grant payments.
Tax Increment Financing funds are at 8.0% due to the timing of rebate payments.
Debt Service Fund expenditures are at 8.8%, because the general obligation bond
principal payments are not due until June 1.
Housing Authority fund is at 60.6% due to an increase in landlord rents.
Governmental Projects expenditures are at 14.0% and Enterprise Projects expenditures
are at 6.5% because many of the capital projects are scheduled for construction this
spring.
Equipment fund is at 35.1% due to the timing of equipment purchases and replacements.
Overall, the combined total actual expenditures for all budgetary funds through December are
$93,909,480 or 26.1% of budget. Overall, the City’s expenditures through the second 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 December 31.
There are a few funds presented (on page 3) with a negative fund balance, CDBG fund at
-$156,866 and HOME at -$673,068. These negative fund balances should reverse following the
receipt of grant proceeds. The other fund balances appear healthy. Additional information is
available from the Finance Department upon request.
2
Beginning Ending Restricted, Unassigned
Fund Year-to-Date Transfers Year-to-Date Transfers Fund Committed, Fund
Balance Revenues In Expenditures Out Balance Assigned Balance
Budgetary Funds
General Fund
10** General Fund 66,253,379$ 33,927,329$ 6,898,240$ 35,068,376$ 3,063,405$ 68,947,167$ 25,044,597$ 43,902,570$
Special Revenue Funds
2100 Community Dev Block Grant 332 439,583 - 476,256 120,425 (156,766) - (156,766)
2110 HOME (526) 236,226 - 908,768 - (673,068) - (673,068)
2200 Road Use Tax Fund 6,740,530 4,588,351 348,550 3,707,481 1,607,881 6,362,069 - 6,362,069
2300 Other Shared Revenue 3,545,052 69,441 - 2,757,739 - 856,754 - 856,754
2350 Metro Planning Org of J.C. 633,511 204,694 197,300 525,395 - 510,110 - 510,110
2400 Employee Benefits 3,577,051 8,112,115 - 832,051 7,112,100 3,745,016 - 3,745,016
2450 Emergency Levy Fund 1,192,635 3,852 - 250 - 1,196,237 - 1,196,237
2500 Affordable Housing Fund 7,372,091 186,205 515,000 553,310 - 7,519,986 - 7,519,986
2510 Peninsula Apartments 408,086 140,600 - 76,014 - 472,672 - 472,672
26** Tax Increment Financing 867,240 2,365,188 - 216,872 1,584,838 1,430,718 - 1,430,718
2820 SSMID-Downtown District - 363,856 - 321,146 - 42,710 - 42,710
Debt Service Fund
5*** Debt Service 7,487,853 6,419,723 1,542,059 1,208,883 - 14,240,753 - 14,240,753
Enterprise Funds
710* Parking 2,115,697 3,795,968 750,000 2,433,370 1,397,420 2,830,875 703,285 2,127,589
715* Mass Transit 13,531,551 1,350,098 2,123,600 4,244,567 12,500 12,748,182 12,513,105 235,078
720* Wastewater 22,125,720 6,278,130 750,960 4,226,947 1,000,062 23,927,801 2,405,006 21,522,795
730* Water 15,771,221 5,943,200 1,184,772 5,752,763 1,431,126 15,715,303 6,031,240 9,684,063
7400 Refuse Collection 2,790,929 2,330,756 3,193 2,178,045 - 2,946,833 - 2,946,833
750* Landfill 22,508,794 4,319,197 507,993 2,945,211 263,085 24,127,688 19,728,040 4,399,648
7600 Airport 195,212 201,563 50,000 214,409 (3,536) 235,902 137,162 98,740
7700 Storm Water 1,677,134 858,962 550,431 274,134 670,000 2,142,394 1,023,215 1,119,178
79** Housing Authority 7,129,228 6,749,999 - 7,580,034 15,350 6,283,844 - 6,283,844
Capital Project Funds
Governmental Projects 31,810,109 1,954,122 1,998,734 11,071,275 - 24,691,690 - 24,691,690
Enterprise Projects 21,723,840 1,584,704 853,823 6,336,184 - 17,826,183 - 17,826,183
Total Budgetary Funds 239,456,669$ 92,423,863$ 18,274,656$ 93,909,480$ 18,274,656$ 237,971,053$ 67,585,651$ 170,385,402$
Non-Budgetary Funds
Internal Service Funds
810* Equipment 23,192,318$ 4,379,068$ -$ 3,433,884$ -$ 24,137,503$ 21,185,880$ 2,951,623$
8200 Risk Management 4,021,093 1,635,420 - 667,641 - 4,988,872 4,988,872
830* Information Technology 4,070,589 1,101,972 50,000 1,969,644 50,000 3,202,917 1,839,670 1,363,247
8400 Central Services 933,947 91,485 - 76,028 - 949,403 - 949,403
8500 Health Insurance Reserves 19,414,739 7,181,035 - 5,496,125 - 21,099,648 9,523,167 11,576,481
8600 Dental Insurance Reserves 597,941 234,738 - 194,904 - 637,776 - 637,776
Total Non-Budgetary Funds 52,230,627$ 14,623,717$ 50,000$ 11,838,226$ 50,000$ 55,016,118$ 32,548,717$ 22,467,402$
Total All Funds 291,687,296$ 107,047,581$ 18,324,656$ 105,747,706$ 18,324,656$ 292,987,171$ 100,134,367$ 192,852,804$
City of Iowa City
Fund Summary
Fiscal Year 2025 through December 31, 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$ 33,927,329$ (28,605,956)$ 54.3%
Special Revenue Funds
2100 Community Dev Block Grant 928,673 886,567 1,244,400 439,583 (804,817) 35.3%
2110 HOME 455,291 721,492 3,061,650 236,226 (2,825,424) 7.7%
2200 Road Use Tax Fund 11,039,422 10,649,900 10,649,900 4,588,351 (6,061,549) 43.1%
2300 Other Shared Revenue 653,948 30,000 715,955 69,441 (646,514) 9.7%
2350 Metro Planning Org of Johnson Co 574,367 468,000 468,000 204,694 (263,306) 43.7%
2400 Employee Benefits 14,864,849 15,335,900 15,335,900 8,112,115 (7,223,785) 52.9%
2450 Emergency Levy Fund 874,504 9,200 9,200 3,852 (5,348) 41.9%
2500 Affordable Housing Fund 372,575 - - 186,205 186,205 0.0%
2510 Iowa City Property Management 252,224 226,575 226,575 140,600 (85,975) 62.1%
26** Tax Increment Financing 4,417,348 4,388,100 4,388,100 2,365,188 (2,022,912) 53.9%
2820 SSMIDs 661,438 677,000 677,000 363,856 (313,144) 53.7%
Debt Service Fund
5*** Debt Service 11,716,728 11,988,600 11,988,600 6,419,723 (5,568,877) 53.5%
Enterprise Funds
710* Parking 5,601,351 8,963,815 8,963,815 3,795,968 (5,167,847) 42.3%
715* Mass Transit 7,198,324 7,928,300 7,928,300 1,350,098 (6,578,202) 17.0%
720* Wastewater 13,901,646 13,353,500 13,353,500 6,278,130 (7,075,370) 47.0%
730* Water 12,734,762 12,250,200 12,250,200 5,943,200 (6,307,000) 48.5%
7400 Refuse Collection 5,167,200 5,142,300 5,142,300 2,330,756 (2,811,544) 45.3%
750* Landfill 8,795,022 7,964,900 7,964,900 4,319,197 (3,645,703) 54.2%
7600 Airport 450,040 440,500 440,500 201,563 (238,937) 45.8%
7700 Storm Water 1,950,216 1,916,800 1,916,800 858,962 (1,057,838) 44.8%
79** Housing Authority 14,147,197 12,892,728 12,892,728 6,749,999 (6,142,729) 52.4%
Capital Project Funds
Governmental Projects 14,097,960 16,535,200 21,988,990 1,954,122 (20,034,868) 8.9%
Enterprise Projects 2,335,250 28,650,000 63,759,935 1,584,704 (62,175,231) 2.5%
Total Budgetary Revenues 196,334,603$ 223,952,862$ 267,900,533$ 92,423,863$ (175,476,670)$ 34.5%
Non-Budgetary Fund Revenues
Internal Service Funds
810* Equipment 8,814,965$ 8,654,600$ 8,654,600$ 4,379,068$ (4,275,532)$ 50.6%
8200 Risk Management 1,803,542 1,126,200$ 1,126,200$ 1,635,420$ 509,220 145.2%
830* Information Technology 3,020,650 2,768,201$ 2,768,201$ 1,101,972$ (1,666,229) 39.8%
8400 Central Services 226,162 143,800$ 143,800$ 91,485$ (52,315) 63.6%
8500 Health Insurance Reserves 13,615,421 14,353,600$ 14,353,600$ 7,181,035$ (7,172,565) 50.0%
8600 Dental Insurance Reserves 467,770 463,100$ 463,100$ 234,738$ (228,362) 50.7%
Total Non-Budgetary Revenues 27,948,510$ 27,509,501$ 27,509,501$ 14,623,717$ (12,885,784)$ 53.2%
Total Revenues - All Funds 224,283,113$ 251,462,363$ 295,410,034$ 107,047,581$ (188,362,453)$ 36.2%
City of Iowa City
Revenues by Fund
Fiscal Year 2025 through December 31, 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$ 35,942,141$ (32,879,359)$ 52.2%
Other City Taxes:
TIF Revenues 4,304,866 4,388,100 4,388,100 2,325,308 (2,062,792) 53.0%
Gas/Electric Excise Taxes 748,119 656,400 656,400 362,846 (293,554) 55.3%
Mobile Home Taxes 47,992 52,800 52,800 32,080 (20,720) 60.8%
Hotel/Motel Taxes 2,043,186 1,750,400 1,750,400 1,047,177 (703,223) 59.8%
Utility Franchise Tax 982,969 1,116,700 1,116,700 301,989 (814,711) 27.0%
Subtotal 8,127,132 7,964,400 7,964,400 4,069,400 (3,895,000) 51.1%
Licenses, Permits, & Fees:
General Use Permits 99,282 107,080 107,080 14,783 (92,297) 13.8%
Food & Liquor Licenses 126,923 116,700 116,700 59,510 (57,190) 51.0%
Professional License 2,275 2,000 2,000 1,125 (875) 56.3%
Franchise Fees 593,710 470,000 470,000 108,133 (361,867) 23.0%
Construction Permits & Insp Fees 2,166,574 1,836,100 1,836,100 1,017,531 (818,569) 55.4%
Misc Lic & Permits 55,391 61,000 61,000 27,587 (33,413) 45.2%
Subtotal 3,044,155 2,592,880 2,592,880 1,228,669 (1,364,211) 47.4%
Intergovernmental:
Fed Intergovernmental Revenue 21,891,003 48,997,706 56,476,157 7,452,275 (49,023,882) 13.2%
Property Tax Credits 1,674,917 1,404,500 1,404,500 310,924 (1,093,576) 22.1%
Road Use Tax 10,580,120 10,500,000 10,500,000 4,563,542 (5,936,458) 43.5%
State 28E Agreements 2,408,480 2,508,500 3,033,500 2,566,419 (467,081) 84.6%
Operating Grants 68,697 54,000 54,000 65,627 11,627 121.5%
Disaster Assistance 71,309 - - - - 0.0%
Other State Grants 1,037,961 685,800 2,586,720 373,931 (2,212,789) 14.5%
Local 28E Agreements 1,428,012 1,418,105 1,418,105 921,720 (496,385) 65.0%
Subtotal 39,160,500 65,568,611 75,472,982 16,254,438 (59,218,544) 21.5%
Charges For Fees And Services:
Building & Development 663,935 478,850 478,850 205,323 (273,527) 42.9%
Police Services 100,897 80,000 80,000 80,831 831 101.0%
Animal Care Services 10,204 12,800 12,800 7,859 (4,941) 61.4%
Fire Services 13,380 9,100 9,100 4,500 (4,600) 49.5%
Transit Fees 64,504 - - - - #DIV/0!
Culture & Recreation 659,725 644,100 644,100 308,650 (335,450) 47.9%
Misc Charges For Services 75,150 67,500 67,500 29,896 (37,604) 44.3%
Water Charges 11,003,126 11,084,600 11,084,600 5,090,017 (5,994,583) 45.9%
Wastewater Charges 12,794,159 13,207,400 13,207,400 5,739,212 (7,468,188) 43.5%
Refuse Charges 5,563,940 5,759,100 5,759,100 2,545,866 (3,213,234) 44.2%
Landfill Charges 7,144,380 6,900,000 6,900,000 3,537,994 (3,362,006) 51.3%
Storm Water Charges 1,885,926 1,900,000 1,900,000 821,250 (1,078,750) 43.2%
Parking Charges 5,723,759 9,372,135 9,372,135 3,966,572 (5,405,563) 42.3%
Subtotal 45,703,085 49,515,585 49,515,585 22,337,971 (27,177,614) 45.1%
Miscellaneous:
Code Enforcement 149,237 161,700 161,700 91,254 (70,446) 56.4%
Parking Fines 684,633 817,000 817,000 458,089 (358,911) 56.1%
Library Fines & Fees 780 1,000 1,000 259 (741) 25.9%
Contributions & Donations 582,187 322,800 322,800 186,899 (135,901) 57.9%
Printed Materials 21,173 17,300 17,300 11,803 (5,497) 68.2%
Animal Adoption 61,514 60,500 60,500 34,120 (26,380) 56.4%
Misc Merchandise 22,319 21,400 21,400 5,956 (15,444) 27.8%
Intra-City Charges 6,215,701 6,782,100 6,782,100 3,360,278 (3,421,822) 49.5%
Other Misc Revenue 1,317,856 866,801 2,645,411 727,828 (1,917,583) 27.5%
Special Assessments 753 2,000 2,000 20 (1,980) 1.0%
Subtotal 9,056,152$ 9,052,601$ 10,831,211$ 4,876,505$ (5,954,706)$ 45.0%
City of Iowa City
Revenues by Type
Fiscal Year 2025 through December 31, 2024
5
2024
Actual
2025
Budget 2025 Revised
2025
Actual Variance Percent
City of Iowa City
Revenues by Type
Fiscal Year 2025 through December 31, 2024
Use Of Money And Property:
Interest Revenues 10,128,915$ 1,642,310$ 1,642,310$ 5,251,883$ 3,609,573$ 319.8%
Rents 1,603,520 1,529,075 1,529,075 726,395 (802,680) 47.5%
Royalties & Commissions 107,306 121,000 121,000 69,920 (51,080) 57.8%
Subtotal 11,839,741 3,292,385 3,292,385 6,048,197 2,755,812 183.7%
Other Financial Sources:
Debt Sales 11,616,402 16,350,000 48,614,690 905,087 (47,709,603) 1.9%
Sale Of Assets 1,042,543 420,900 420,900 72,137 (348,763) 17.1%
Loans 519,342 374,000 374,000 689,319 315,319 184.3%
Subtotal 13,178,287 17,144,900 49,409,590 1,666,543 (47,743,047) 3.4%
Total Budgetary Revenues 196,334,604$ 223,952,862$ 267,900,533$ 92,423,864$ (175,476,669) 34.5%
Non-Budgetary Fund Revenues
Internal Service Funds 27,948,510$ 27,509,501$ 27,509,501$ 14,623,717$ (12,885,784)$ 53.2%
Total Non-Budgetary Revenues 27,948,510$ 27,509,501$ 27,509,501$ 14,623,717$ (12,885,784)$ 53.2%
Total Revenues - All Funds 224,283,113$ 251,462,363$ 295,410,034$ 107,047,581$ (188,362,453)$ 36.2%
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$ 35,068,376$ 45,629,922$ 43.5%
Special Revenue Funds
2100 Community Dev Block Grant 928,736 801,106 1,158,939 476,256 682,683 41.1%
2110 HOME 455,862 588,371 2,928,529 908,768 2,019,761 31.0%
2200 Road Use Tax Fund 7,448,448 7,965,300 7,965,300 3,707,481 4,257,819 46.5%
2300 Other Shared Revenue 970,786 123,700 4,288,607 2,757,739 1,530,868 64.3%
2350 Metro Planning Org of Johnson Co. 902,800 862,600 980,710 525,395 455,315 53.6%
2400 Employee Benefits 1,739,908 1,146,925 1,146,925 832,051 314,874 72.5%
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 1,030,000 553,310 476,690 53.7%
2510 Iowa City Property Management 189,624 172,775 297,775 76,014 221,761 25.5%
26** Tax Increment Financing 2,161,320 2,727,000 2,727,000 216,872 2,510,128 8.0%
2820 SSMIDs 661,438 677,000 677,000 321,146 355,854 47.4%
Debt Service Fund
5*** Debt Service 13,189,955 13,787,740 13,787,740 1,208,883 12,578,857 8.8%
Enterprise Funds
710* Parking 4,141,962 5,162,374 5,162,374 2,433,370 2,729,004 47.1%
715* Mass Transit 9,882,655 11,955,550 12,077,550 4,244,567 7,832,983 35.1%
720* Wastewater 8,271,541 12,714,600 12,814,600 4,226,947 8,587,653 33.0%
730* Water 10,590,605 10,356,952 10,770,053 5,752,763 5,017,290 53.4%
7400 Refuse Collection 4,368,350 4,731,500 4,806,500 2,178,045 2,628,455 45.3%
750* Landfill 6,085,972 6,079,450 6,134,503 2,945,211 3,189,292 48.0%
7600 Airport 489,950 436,550 436,550 214,409 222,141 49.1%
7700 Storm Water 623,916 681,900 681,900 274,134 407,766 40.2%
79** Housing Authority 13,129,901 12,469,766 12,514,766 7,580,034 4,934,732 60.6%
Capital Project Funds
Governmental Projects 20,533,547 41,047,794 79,353,654 11,071,275 68,282,379 14.0%
Enterprise Projects 14,032,510 34,970,500 97,829,886 6,336,184 91,493,702 6.5%
Total Budgetary Expenditures 194,150,542$ 241,707,352$ 360,448,932$ 93,909,480$ 266,539,452$ 26.1%
Non-Budgetary Funds Expenditures
Internal Service Funds
810* Equipment 6,700,574$ 7,894,700$ 9,780,142$ 3,433,884$ 6,346,258$ 35.1%
8200 Risk Management 2,043,847 1,320,700 1,320,700 667,641 653,059 50.6%
830* Information Technology 3,231,658 3,175,188 3,379,416 1,969,644 1,409,772 58.3%
8400 Central Services 170,690 218,900 237,452 76,028 161,424 32.0%
8500 Health Insurance Reserves 10,601,094 12,258,500 12,258,500 5,496,125 6,762,375 44.8%
8600 Dental Insurance Reserves 399,145 410,200 410,200 194,904 215,296 47.5%
Total Non-Budgetary Expenditures 23,147,008$ 25,278,188$ 27,386,410$ 11,838,226$ 15,548,184$ 43.2%
Total Expenditures - All Funds 217,297,550$ 266,985,540$ 387,835,342$ 105,747,706$ 282,087,636$ 27.3%
City of Iowa City
Expenditures by Fund
Fiscal Year 2025 through December 31, 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$ 87,924$ 104,576$ 45.7%
City Clerk 633,423 636,705 636,705 271,013 365,692 42.6%
City Attorney 942,326 965,048 1,015,048 465,710 549,338 45.9%
City Manager 9,910,047 6,156,340 6,988,387 2,729,369 4,259,018 39.1%
Finance 4,577,205 5,529,700 5,529,700 2,884,641 2,645,059 52.2%
Police 16,522,474 17,809,695 18,172,854 8,082,116 10,090,738 44.5%
Fire 9,879,949 11,178,075 11,180,088 5,134,731 6,045,357 45.9%
Parks & Recreation 10,243,118 10,639,040 10,651,410 4,930,337 5,721,073 46.3%
Library 7,561,093 7,887,900 7,887,900 3,782,986 4,104,914 48.0%
Senior Center 1,067,416 1,147,250 1,165,750 505,850 659,900 43.4%
Neighborhood & Development Services 6,013,348 4,868,346 13,172,656 4,408,468 8,764,188 33.5%
Public Works 3,264,174 3,668,600 3,691,600 1,581,914 2,109,686 42.9%
Transportation & Resource Management 640,280 413,700 413,700 203,316 210,384 49.1%
Total General Fund 71,436,486 71,092,899 80,698,298 35,068,376 45,629,922 43.5%
Special Revenue Funds
2100 Community Dev Block Grant
Neighborhood & Development Services 928,736 801,106 1,158,939 476,256 682,683 41.1%
2110 HOME
Neighborhood & Development Services 455,862 588,371 2,928,529 908,768 2,019,761 31.0%
2200 Road Use Tax Fund
Public Works 7,448,448 7,965,300 7,965,300 3,707,481 4,257,819 46.5%
2300 Other Shared Revenue
Neighborhood & Development Services 970,786 123,700 4,288,607 2,757,739 1,530,868 64.3%
2350 Metro Planning Org of Johnson Co
Neighborhood & Development Services 902,800 862,600 980,710 525,395 455,315 53.6%
2400 Employee Benefits
Finance 1,739,908 1,146,925 1,146,925 832,051 314,874 72.5%
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 1,030,000 553,310 476,690 53.7%
2510 Iowa City Property Management
Neighborhood & Development Services 189,624 172,775 297,775 76,014 221,761 25.5%
26** Tax Increment Financing
Finance 2,161,320 2,727,000 2,727,000 216,872 2,510,128 8.0%
2820 SSMIDs
Finance 661,438 677,000 677,000 321,146 355,854 47.4%
Total Special Revenue Funds 17,373,193 16,219,777 23,380,558 10,375,282 13,005,276 44.4%
Debt Service Fund
5*** Debt Service
Finance 13,189,955 13,787,740 13,787,740 1,208,883 12,578,857 8.8%
Total Debt Service Fund 13,189,955 13,787,740 13,787,740 1,208,883 12,578,857 8.8%
City of Iowa City
Expenditures by Fund by Department
Fiscal Year 2025 through December 31, 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 December 31, 2024
Enterprise Funds
710* Parking
Transportation & Resource Management 4,141,962$ 5,162,374$ 5,162,374$ 2,433,370$ 2,729,004$ 47.1%
715* Mass Transit
Transportation & Resource Management 9,882,655 11,955,550 12,077,550 4,244,567 7,832,983 35.1%
720* Wastewater
Public Works 8,271,541 12,714,600 12,814,600 4,226,947 8,587,653 33.0%
730* Water
Public Works 10,590,605 10,356,952 10,770,053 5,752,763 5,017,290 53.4%
7400 Refuse Collection
Transportation & Resource Management 4,368,350 4,731,500 4,806,500 2,178,045 2,628,455 45.3%
750* Landfill
Transportation & Resource Management 6,085,972 6,079,450 6,134,503 2,945,211 3,189,292 48.0%
7600 Airport
Airport Operations 489,950 436,550 436,550 214,409 222,141 49.1%
7700 Storm Water
Public Works 623,916 681,900 681,900 274,134 407,766 40.2%
79** Housing Authority
Neighborhood & Development Services 13,129,901 12,469,766 12,514,766 7,580,034 4,934,732 60.6%
Total Enterprise Funds 57,584,852 64,588,642 65,398,796 29,849,480 35,549,316 45.6%
Capital Project Funds
Governmental Projects 20,533,547 41,047,794 79,353,654 11,071,275 68,282,379 14.0%
Enterprise Projects 14,032,510 34,970,500 97,829,886 6,336,184 91,493,702 6.5%
Total Capital Project Funds 34,566,057 76,018,294 177,183,540 17,407,459 159,776,081 9.8%
Total Budgetary Expenditures 194,150,542$ 241,707,352$ 360,448,932$ 93,909,480$ 266,539,452$ 26.1%
Non-Budgetary Funds Expenditures
Internal Service Funds
810* Equipment
Public Works 6,700,574$ 7,894,700$ 9,780,142$ 3,433,884$ 6,346,258$ 35.1%
8200 Risk Management
Finance 2,043,847 1,320,700 1,320,700 667,641 653,059 50.6%
830* Information Technology
Finance 3,231,658 3,175,188 3,379,416 1,969,644 1,409,772 58.3%
8400 Central Services
Finance 170,690 218,900 237,452 76,028 161,424 32.0%
8500 Health Insurance Reserves
Finance 10,601,094 12,258,500 12,258,500 5,496,125 6,762,375 44.8%
8600 Dental Insurance Reserves
Finance 399,145 410,200 410,200 194,904 215,296 47.5%
Total Internal Service Funds 23,147,008 25,278,188 27,386,410 11,838,226 15,548,184 43.2%
Total Non-Budgetary Expenditures 23,147,008$ 25,278,188$ 27,386,410$ 11,838,226$ 15,548,184$ 43.2%
Total Expenditures - All Funds 217,297,550$ 266,985,540$ 387,835,342$ 105,747,706$ 282,087,636$ 27.3%
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