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FY2018 1st Qtr Financial Summary Date: October 19, 2017 To: City Manager, City Council From: Dennis Bockenstedt, Finance Director Re: Quarterly Financial Summary for Period Ending September 30, 2017 Introduction Attached to this memorandum are the City’s quarterly financial reports as of September 30, 2017. The quarterly financial report includes combined summaries of all fund balances, revenues, and expenditures for fiscal year 2018 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, and the Employee Benefits fund, their actual revenues are at 10.4%, 5.5%, and 5.9%, 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 same 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, the Water fund is at 21.5%, the Wastewater fund is at 20.0%, and the Landfill is at 26.2%. These funds’ revenues may still be under the 25% benchmark due to the accrual of revenues back to last fiscal year or above the 25% due to seasonal variances. Other funds with budget anomalies worth noting: the Other Shared Revenue fund has actual revenues at 49.6% due to the receipt of federal monies; and the Risk Management fund has actual revenues at 98.0% due to the timing of the entries made for loss reserve payments to intra-city charges. In addition, Operating Grants revenue is at 87.5% (on page 5) due to the receipt of the Disney Play grant. Other Misc Revenue is at -31% due to the timing of a receivable from the University for the Washington Street Project, and Interest Revenue is at - 32.7% due to the interest receivable accrual back to the prior fiscal year. Additionally, the Governmental Projects fund has negative revenues at -3.9% due to the interest receivable accrual as well as a transfer of bond funds from Governmental Projects to Enterprise Projects. The combined total actual revenues for all budgetary funds through September are $20,888,017 or 12.4% of budget. Overall, the City’s revenues are not substantially different than projected, and the anomalies and budget variances can be explained. 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 2018 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. 1 Some of the funds have expenditure activity through the first quarter significantly above the 25% mark. The following funds have a significant expenditure variance above 25%: • Other Shared Revenue fund is at 60.1% due to property acquisitions from grants. • Affordable Housing fund is at 50.0% due to payments made to the Housing Trust Fund of Johnson County. • Wastewater fund is at 67.6% due bond principal and interest payments paid in July. • Water fund is at 63.3% due to bond principal and interest payments paid in July. • Risk Management fund is at 38.7% due to workers comp claims and internal charges. Overall, the combined total actual expenditures for all budgetary funds through September are $52,676,830 or 21.0% 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. One fund is presented (on page 3) with negative fund balance, the Community Development Block Grant fund at -$34,645. This negative fund balances should reverse following the receipt of grant proceeds. The other fund balances appear healthy. Additional information is available from the Finance Department upon request. 2 Beginning Ending Restricted, Unassigned Fund Year-to-Date Transfers Year-to-Date Transfers Fund Committed, Fund Balance Revenues In Expenditures Out Balance Assigned Balance Budgetary Funds General Fund 10** General Fund 40,724,250$ 5,423,262$ 2,435,783$ 13,406,510$ 1,007,336$ 34,169,449$ 15,073,905$ 19,095,544$ Special Revenue Funds 2100 Community Dev Block Grant (90,569) 116,244 - 60,320 - (34,645) - (34,645) 2110 HOME 113,005 279,792 - 319,753 - 73,044 - 73,044 2200 Road Use Tax Fund 5,714,241 1,838,066 107,001 1,358,860 761,565 5,538,884 - 5,538,884 2300 Other Shared Revenue 82,485 172,823 - 225,513 - 29,795 - 29,795 2350 Metro Planning Org of J.C. 256,738 37,197 69,051 139,231 - 223,755 - 223,755 2400 Employee Benefits 2,520,948 683,038 - 354,190 2,493,415 356,380 - 356,380 2500 Affordable Housing Fund 468,102 (968) - 325,000 - 142,134 142,134 2510 Peninsula Apartments 143,381 18,634 - 12,646 - 149,370 - 149,370 26** Tax Increment Financing 482,246 118,983 - - - 601,229 476,815 124,414 2820 SSMID-Downtown District - 8,979 - - - 8,979 - 8,979 Debt Service Fund 5*** Debt Service 7,232,185 727,558 - 3,099,299 - 4,860,444 1,546,320 3,314,124 Enterprise Funds 710* Parking 11,082,223 1,602,502 - 781,423 158,827 11,744,474 5,500,000 6,244,474 715* Mass Transit 6,427,042 716,991 845,569 1,496,918 - 6,492,684 1,275,049 5,217,636 720* Wastewater 25,193,871 2,512,323 1,035,972 10,733,389 1,661,971 16,346,807 6,157,698 10,189,109 730* Water 18,111,079 1,992,681 455,149 9,014,280 371,179 11,173,450 2,394,366 8,779,083 7400 Refuse Collection 1,351,518 656,037 - 758,267 (13,859) 1,263,146 - 1,263,146 750* Landfill 26,735,286 1,631,971 58,827 1,136,305 11,772 27,278,007 24,768,114 2,509,894 7600 Airport 308,219 77,378 27,422 92,639 - 320,380 100,000 220,380 7700 Storm water 1,031,911 294,943 - 140,953 185,000 1,000,902 - 1,000,902 79** Housing Authority 6,756,668 2,353,065 - 2,832,425 11,695 6,265,614 3,093,854 3,171,760 Capital Project Funds Governmental Projects 43,433,631 (696,764) 1,203,787 5,146,022 (20,986) 38,815,618 - 38,815,618 Enterprise Projects 13,294,586 323,281 389,353 1,242,888 - 12,764,333 - 12,764,333 Total Budgetary Funds 211,373,048$ 20,888,017$ 6,627,915$ 52,676,830$ 6,627,915$ 179,584,235$ 60,386,120$ 119,198,115$ Non-Budgetary Funds Capital Project Funds Internal Service Projects -$ -$ -$ -$ -$ -$ -$ -$ Internal Service Funds 810* Equipment 13,165,375 1,484,344 - 727,067 - 13,922,652 12,053,818 1,868,834 8200 Risk Management 3,803,525 1,569,064 - 570,334 - 4,802,254 - 4,802,254 830* Information Technology 2,539,463 362,411 - 382,202 - 2,519,672 472,186 2,047,486 8400 Central Services 708,450 57,163 - 22,713 - 742,900 - 742,900 8500 Health Insurance Reserves 10,821,196 2,034,087 - 1,616,215 - 11,239,067 4,844,311 6,394,756 8600 Dental Insurance Reserves 147,348 100,964 - 86,220 - 162,092 - 162,092 Total Non-Budgetary Funds 31,185,356$ 5,608,033$ -$ 3,404,751$ -$ 33,388,638$ 17,370,316$ 16,018,322$ Total All Funds 242,558,405$ 26,496,050$ 6,627,915$ 56,081,582$ 6,627,915$ 212,972,873$ 77,756,436$ 135,216,437$ City of Iowa City Fund Summary Fiscal Year 2018 through September 30, 2017 3 2017 Actual 2018 Budget 2018 Revised 2018 Actual Variance Percent Budgetary Fund Revenues General Fund 10** General Fund 51,151,026$ 51,270,355$ 51,938,735$ 5,423,262$ (46,515,473)$ 10.4% Special Revenue Funds 2100 Community Dev Block Grant 1,020,981 693,031 879,069 116,244 (762,825) 13.2% 2110 HOME 305,087 486,444 1,134,122 279,792 (854,330) 24.7% 2200 Road Use Tax Fund 8,803,148 8,393,630 8,393,630 1,838,066 (6,555,564) 21.9% 2300 Other Shared Revenue 577,060 - 348,153 172,823 (175,330) 49.6% 2350 Metro Planning Org of Johnson Co 295,966 306,820 306,820 37,197 (269,623) 12.1% 2400 Employee Benefits 11,145,984 11,496,472 11,496,472 683,038 (10,813,434) 5.9% 2500 Affordable Housing Fund 3,926 - - (968) (968) 0.0% 2510 Peninsula Apartments 77,516 74,155 74,155 18,634 (55,521) 25.1% 26** Tax Increment Financing 2,230,731 2,333,912 2,333,912 118,983 (2,214,929) 5.1% 2820 SSMID-Downtown District 318,343 355,350 355,350 8,979 (346,371) 2.5% Debt Service Fund 5*** Debt Service 14,353,841 13,223,418 13,223,418 727,558 (12,495,860) 5.5% Enterprise Funds 710* Parking 5,527,930 5,922,530 5,922,530 1,602,502 (4,320,028) 27.1% 715* Mass Transit 4,812,638 4,193,204 7,848,459 716,991 (7,131,468) 9.1% 720* Wastewater 17,883,190 12,589,340 12,589,340 2,512,323 (10,077,017) 20.0% 730* Water 14,934,666 9,268,096 9,268,096 1,992,681 (7,275,415) 21.5% 7400 Refuse Collection 3,159,783 3,411,689 3,411,689 656,037 (2,755,652) 19.2% 750* Landfill 7,089,948 6,234,063 6,234,063 1,631,971 (4,602,092) 26.2% 7600 Airport 348,499 359,500 359,500 77,378 (282,122) 21.5% 7700 Storm Water 1,688,423 1,483,550 1,483,550 294,943 (1,188,607) 19.9% 79** Housing Authority 9,103,051 8,769,397 8,769,397 2,353,065 (6,416,332) 26.8% Capital Project Funds Governmental Projects 34,506,605 16,997,084 17,931,571 (696,764) (18,628,335) -3.9% Enterprise Projects 4,492,040 3,529,110 4,395,643 323,281 (4,072,362) 7.4% Total Budgetary Revenues 193,830,381$ 161,391,150$ 168,697,674$ 20,888,017$ (147,809,657)$ 12.4% Non-Budgetary Fund Revenues Capital Project Funds Internal Service Projects 174$ -$ -$ -$ -$ 0.0% Internal Service Funds 810* Equipment 6,099,982 6,106,291 6,106,291 1,484,344 (4,621,947) 24.3% 8200 Risk Management 1,625,495 1,600,954 1,600,954 1,569,064 (31,890) 98.0% 830* Information Technology 2,147,457 2,270,295 2,270,295 362,411 (1,907,884) 16.0% 8400 Central Services 241,819 239,151 239,151 57,163 (181,988) 23.9% 8500 Health Insurance Reserves 8,136,943 8,746,421 8,746,421 2,034,087 (6,712,334) 23.3% 8600 Dental Insurance Reserves 384,243 396,674 396,674 100,964 (295,710) 25.5% Total Non-Budgetary Revenues 18,636,114$ 19,359,786$ 19,359,786$ 5,608,033$ (13,751,753)$ 29.0% Total Revenues - All Funds 212,466,494$ 180,750,936$ 188,057,460$ 26,496,050$ (161,561,410)$ 14.1% City of Iowa City Revenues by Fund Fiscal Year 2018 through September 30, 2017 4 2017 Actual 2018 Budget 2018 Revised 2018 Actual Variance Percent Budgetary Fund Revenues Property Taxes 55,357,358$ 56,458,399$ 56,458,399$ 3,559,891$ (52,898,508)$ 6.3% Other City Taxes: TIF Revenues 2,226,302 2,333,912 2,333,912 119,689 (2,214,223) 5.1% Gas/Electric Excise Taxes 726,457 681,149 681,149 - (681,149) 0.0% Mobile Home Taxes 65,153 65,480 65,480 11,692 (53,788) 17.9% Hotel/Motel Taxes 1,136,712 1,078,760 1,078,760 - (1,078,760) 0.0% Utility Franchise Tax 939,387 895,000 895,000 2,047 (892,953) 0.2% Subtotal 5,094,011 5,054,301 5,054,301 133,428 (4,920,873) 2.6% Licenses, Permits, & Fees: General Use Permits 104,296 82,510 82,510 4,533 (77,978) 5.5% Food & Liquor Licenses 111,438 92,740 92,740 37,609 (55,131) 40.6% Professional License 12,015 18,710 18,710 1,920 (16,790) 10.3% Franchise Fees 685,659 692,140 692,140 14,324 (677,816) 2.1% Construction Permits & Insp Fees 2,578,024 1,639,240 1,639,240 487,225 (1,152,015) 29.7% Misc Lic & Permits 39,951 36,320 36,320 16,028 (20,293) 44.1% Subtotal 3,531,383 2,561,660 2,561,660 561,639 (2,000,021) 21.9% Intergovernmental: Fed Intergovernment Revenue 12,147,485 14,280,110 16,732,411 2,741,986 (13,990,425) 16.4% Property Tax Credits 1,590,863 1,603,881 1,603,881 224 (1,603,657) 0.0% Road Use Tax 8,672,279 8,320,120 8,320,120 1,795,900 (6,524,220) 21.6% State 28E Agreements 1,813,044 1,687,575 1,687,575 - (1,687,575) 0.0% Operating Grants 139,474 81,850 81,850 71,604 (10,246) 87.5% Disaster Assistance 217,718 - 34,815 20,332 (14,483) 58.4% Other State Grants 12,999,581 2,295,514 6,259,542 118,841 (6,140,701) 1.9% Local 28E Agreements 1,418,467 1,005,860 1,005,860 427,598 (578,262) 42.5% Subtotal 38,998,911 29,274,910 35,726,054 5,176,484 (30,549,570) 14.5% Charges For Fees And Services: Building & Development 969,936 445,620 445,620 129,946 (315,674) 29.2% Police Services 143,562 37,237 37,237 20,485 (16,752) 55.0% Animal Care Services 11,545 10,400 10,400 2,750 (7,650) 26.4% Fire Services 10,370 8,660 8,660 1,970 (6,690) 22.8% Transit Fees 1,260,923 1,299,190 1,299,190 228,899 (1,070,291) 17.6% Culture & Recreation 780,147 820,454 820,454 182,608 (637,846) 22.3% Library Charges 39 - - 8 8 0.0% Misc Charges For Services 72,099 68,628 68,628 20,297 (48,331) 29.6% Water Charges 9,279,458 9,102,056 9,102,056 1,989,135 (7,112,921) 21.9% Wastewater Charges 12,276,259 12,214,720 12,214,720 2,502,649 (9,712,071) 20.5% Refuse Charges 3,588,837 3,772,349 3,772,349 803,638 (2,968,711) 21.3% Landfill Charges 6,273,574 5,686,860 5,686,860 1,513,024 (4,173,836) 26.6% Storm water Charges 1,522,294 1,477,710 1,477,710 297,154 (1,180,556) 20.1% Parking Charges 5,910,725 6,319,394 6,319,394 1,965,096 (4,354,298) 31.1% Subtotal 42,099,767 41,263,278 41,263,278 9,657,659 (31,605,619) 23.4% Miscellaneous: Code Enforcement 238,295 253,180 253,180 29,896 (223,284) 11.8% Parking Fines 578,713 549,580 549,580 103,189 (446,391) 18.8% Library Fines & Fees 154,425 155,520 155,520 35,462 (120,058) 22.8% Contributions & Donations 705,917 377,972 392,972 53,174 (339,799) 13.5% Printed Materials 43,411 48,400 48,400 10,332 (38,068) 21.3% Animal Adoption 12,015 14,190 14,190 3,810 (10,380) 26.8% Misc Merchandise 55,052 54,930 54,930 22,366 (32,564) 40.7% Intra-City Charges 3,795,296 4,226,884 4,226,884 990,979 (3,235,905) 23.4% Other Misc Revenue 2,118,650 779,349 956,349 (296,023) (1,252,372) -31.0% Special Assessments 1,087 1,000 1,000 - (1,000) 0.0% Subtotal 7,702,861$ 6,461,005$ 6,653,005$ 953,185$ (5,699,820)$ 14.3% City of Iowa City Revenues by Type Fiscal Year 2018 through September 30, 2017 5 2017 Actual 2018 Budget 2018 Revised 2018 Actual Variance Percent City of Iowa City Revenues by Type Fiscal Year 2018 through September 30, 2017 Use Of Money And Property: Interest Revenues 1,551,921$ 1,022,383$ 1,022,763$ (334,495)$ (1,357,258)$ -32.7% Rents 1,370,376 1,307,630 1,307,630 344,232 (963,398) 26.3% Royalties & Commissions 140,491 94,950 94,950 29,341 (65,609) 30.9% Subtotal 3,062,788 2,424,963 2,425,343 39,077 (2,386,266) 1.6% Other Financial Sources: Debt Sales 33,795,498 14,671,084 14,671,084 - (14,671,084) 0.0% Sale Of Assets 3,081,294 1,956,508 2,619,508 242,318 (2,377,190) 9.3% Loans 1,106,510 1,265,042 1,265,042 564,336 (700,706) 44.6% Subtotal 37,983,302 17,892,634 18,555,634 806,654 (17,748,980) 4.3% Total Budgetary Revenues 193,830,381$ 161,391,150$ 168,697,674$ 20,888,017$ (147,809,657) 12.4% Non-Budgetary Fund Revenues Capital Project Funds 174$ -$ -$ -$ -$ 0.0% Internal Service Funds 18,635,940 19,359,786 19,359,786 5,608,033 (13,751,753) 29.0% Total Non-Budgetary Revenues 18,636,114$ 19,359,786$ 19,359,786$ 5,608,033$ (13,751,753)$ 29.0% Total Revenues - All Funds 212,466,494$ 180,750,936$ 188,057,460$ 26,496,050$ (161,561,410)$ 14.1% 6 2017 Actual 2018 Budget 2018 Revised 2018 Actual Variance Percent Budgetary Fund Expenditures General Fund 10** General Fund 51,413,370$ 56,552,008$ 58,391,677$ 13,406,510$ 44,985,167$ 23.0% Special Revenue Funds 2100 Community Dev Block Grant 1,390,132 568,686 754,724 60,320 694,404 8.0% 2110 HOME 192,082 465,444 1,113,122 319,753 793,369 28.7% 2200 Road Use Tax Fund 5,262,429 6,221,226 6,421,726 1,358,860 5,062,866 21.2% 2300 Other Shared Revenue 652,152 - 375,158 225,513 149,645 60.1% 2350 Metro Planning Org of Johnson Co. 609,907 633,977 633,977 139,231 494,746 22.0% 2400 Employee Benefits 868,301 1,243,475 1,243,475 354,190 889,285 28.5% 2500 Affordable Housing Fund 500,000 650,000 650,000 325,000 325,000 50.0% 2510 Peninsula Apartments 59,023 53,557 53,557 12,646 40,911 23.6% 26** Tax Increment Financing - 332,365 332,365 - 332,365 0.0% 2820 SSMID-Downtown District 318,343 355,350 355,350 - 355,350 0.0% Debt Service Fund 5*** Debt Service 15,218,289 14,256,417 14,256,417 3,099,299 11,157,118 21.7% Enterprise Funds 720* Wastewater 21,260,750 10,601,444 15,867,503 10,733,389 5,134,114 67.6% 730* Water 12,372,374 8,465,881 14,240,160 9,014,280 5,225,880 63.3% 7400 Refuse Collection 3,053,376 3,427,206 3,427,206 758,267 2,668,939 22.1% 750* Landfill 4,973,964 4,902,903 4,987,903 1,136,305 3,851,598 22.8% 7600 Airport 665,802 369,187 369,187 92,639 276,548 25.1% 7700 Storm water 747,069 518,983 518,983 140,953 378,030 27.2% 79** Housing Authority 8,651,207 8,201,363 8,201,363 2,832,425 5,368,938 34.5% Capital Project Funds Governmental Projects 32,902,808 32,530,291 78,905,612 5,146,022 73,759,590 6.5% Enterprise Projects 3,657,836 8,825,015 20,830,218 1,242,888 19,587,330 6.0% Total Budgetary Expenditures 175,931,866$ 173,318,414$ 251,164,819$ 52,676,830$ 198,487,989$ 21.0% Non-Budgetary Funds Expenditures Capital Project Funds Internal Service Projects 61,633$ -$ -$ -$ - 0.0% Internal Service Funds 810* Equipment 4,683,979 4,543,387 5,503,948 727,067 4,776,881 13.2% 8200 Risk Management 1,236,127 1,472,081 1,472,081 570,334 901,747 38.7% 830* Information Technology 1,624,715 2,217,207 2,217,207 382,202 1,835,005 17.2% 8400 Central Services 201,065 262,163 262,163 22,713 239,450 8.7% 8500 Health Insurance Reserves 7,218,542 8,341,355 8,341,355 1,616,215 6,725,140 19.4% 8600 Dental Insurance Reserves 374,002 399,386 399,386 86,220 313,166 21.6% Total Non-Budgetary Expenditures 15,400,061$ 17,235,579$ 18,196,140$ 3,404,751$ 14,791,389$ 18.7% Total Expenditures - All Funds 191,331,927$ 190,553,993$ 269,360,959$ 56,081,582$ 213,279,377$ 20.8% City of Iowa City Expenditures by Fund Fiscal Year 2018 through September 30, 2017 7 2017 Actual 2018 Budget 2018 Revised 2018 Actual Variance Percent Budgetary Funds Expenditures General Fund 10** General Fund City Council 110,152$ 108,590$ 113,859$ 41,234$ 72,625$ 36.2% City Clerk 500,977 595,728 605,228 98,732 506,496 16.3% City Attorney 733,337 762,815 762,815 178,878 583,937 23.4% City Manager 2,148,884 4,087,474 4,234,997 920,518 3,314,479 21.7% Finance 3,655,228 4,349,981 4,615,557 1,387,510 3,228,047 30.1% Police 13,114,628 13,827,954 13,924,240 3,281,477 10,642,764 23.6% Fire 7,716,864 8,169,242 8,209,242 1,894,345 6,314,897 23.1% Parks & Recreation 7,812,840 8,139,582 8,230,051 1,915,927 6,314,124 23.3% Library 6,269,424 6,526,560 6,561,560 1,541,723 5,019,837 23.5% Senior Center 899,254 949,924 1,010,055 201,076 808,979 19.9% Neighborhood & Development Services 6,074,193 5,788,055 6,877,970 1,396,766 5,481,204 20.3% Public Works 1,757,925 2,384,366 2,384,366 457,658 1,926,708 19.2% Transportation & Resource Management 619,664 861,737 861,737 90,667 771,070 10.5% Total General Fund 51,413,370 56,552,008 58,391,677 13,406,510 44,985,167 23.0% Special Revenue Funds 2100 Community Dev Block Grant Neighborhood & Development Services 1,390,132 568,686 754,724 60,320 694,404 8.0% 2110 HOME Neighborhood & Development Services 192,082 465,444 1,113,122 319,753 793,369 28.7% 2200 Road Use Tax Fund Public Works 5,262,429 6,221,226 6,421,726 1,358,860 5,062,866 21.2% 2300 Other Shared Revenue Neighborhood & Development Services 652,152 - 375,158 225,513 149,645 60.1% 2350 Metro Planning Org of Johnson Co Neighborhood & Development Services 609,907 633,977 633,977 139,231 494,746 22.0% 2400 Employee Benefits Finance 868,301 1,243,475 1,243,475 354,190 889,285 28.5% 2500 Affordable Housing Fund Neighborhood & Development Services 500,000 650,000 650,000 325,000 325,000 50.0% 2510 Peninsula Apartments Neighborhood & Development Services 59,023 53,557 53,557 12,646 40,911 23.6% 26** Tax Increment Financing Finance - 332,365 332,365 - 332,365 0.0% 2820 SSMID-Downtown District Finance 318,343 355,350 355,350 - 355,350 0.0% Total Special Revenue Funds 9,852,369 10,524,080 11,933,454 2,795,512 9,137,942 23.4% Debt Service Fund 5*** Debt Service Finance 15,218,289 14,256,417 14,256,417 3,099,299 11,157,118 21.7% Total Debt Service Fund 15,218,289 14,256,417 14,256,417 3,099,299 11,157,118 21.7% City of Iowa City Expenditures by Fund by Department Fiscal Year 2018 through September 30, 2017 8 2017 Actual 2018 Budget 2018 Revised 2018 Actual Variance Percent City of Iowa City Expenditures by Fund by Department Fiscal Year 2018 through September 30, 2017 Enterprise Funds 710* Parking Transportation & Resource Management 4,235,036$ 6,941,622$ 6,941,622$ 781,423$ 6,160,199$ 11.3% 715* Mass Transit Transportation & Resource Management 6,927,616 7,202,014 12,293,514 1,496,918 10,796,596 12.2% 720* Wastewater Public Works 21,260,750 10,601,444 15,867,503 10,733,389 5,134,114 67.6% 730* Water Public Works 12,372,374 8,465,881 14,240,160 9,014,280 5,225,880 63.3% 7400 Refuse Collection Transportation & Resource Management 3,053,376 3,427,206 3,427,206 758,267 2,668,939 22.1% 750* Landfill Transportation & Resource Management 4,973,964 4,902,903 4,987,903 1,136,305 3,851,598 22.8% 7600 Airport Airport Operations 665,802 369,187 369,187 92,639 276,548 25.1% 7700 Storm water Public Works 747,069 518,983 518,983 140,953 378,030 27.2% 79** Housing Authority Neighborhood & Development Services 8,651,207 8,201,363 8,201,363 2,832,425 5,368,938 34.5% Total Enterprise Funds 62,887,194 50,630,603 66,847,441 26,986,599 39,860,842 40.4% Capital Project Funds Governmental Projects 32,902,808 32,530,291 78,905,612 5,146,022 73,759,590 6.5% Enterprise Projects 3,657,836 8,825,015 20,830,218 1,242,888 19,587,330 6.0% Total Capital Project Funds 36,560,644 41,355,306 99,735,830 6,388,911 93,346,919 6.4% Total Budgetary Expenditures 175,931,866$ 173,318,414$ 251,164,819$ 52,676,830$ 198,487,989$ 21.0% Non-Budgetary Funds Expenditures Capital Project Funds Internal Service Projects 61,633$ -$ -$ -$ -$ 0.0% Total Capital Project Funds 61,633 - - - - 0.0% Internal Service Funds 810* Equipment Public Works 4,683,979 4,543,387 5,503,948 727,067 4,776,881 13.2% 8200 Risk Management Finance 1,236,127 1,472,081 1,472,081 570,334 901,747 38.7% 830* Information Technology Finance 1,624,715 2,217,207 2,217,207 382,202 1,835,005 17.2% 8400 Central Services Finance 201,065 262,163 262,163 22,713 239,450 8.7% 8500 Health Insurance Reserves Finance 7,218,542 8,341,355 8,341,355 1,616,215 6,725,140 19.4% 8600 Dental Insurance Reserves Finance 374,002 399,386 399,386 86,220 313,166 21.6% Total Internal Service Funds 15,338,429 17,235,579 18,196,140 3,404,751 14,791,389 18.7% Total Non-Budgetary Expenditures 15,400,061$ 17,235,579$ 18,196,140$ 3,404,751$ 14,791,389$ 18.7% Total Expenditures - All Funds 191,331,927$ 190,553,993$ 269,360,959$ 56,081,582$ 213,279,377$ 20.8% 9