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FY2017 2nd Qtr Financial Summary Date: January 17, 2017 To: City Manager, City Council From: Dennis Bockenstedt, Finance Director Re: Quarterly Financial Summary for Period Ending December 31, 2016 Introduction Attached to this memorandum are the City’s quarterly financial reports as of December 31, 2016. The quarterly financial report includes combined summaries of all fund balances, revenues, and expenditures for fiscal year 2017 through the end of the second quarter, which is 50% of the way through the fiscal year. Below are some of the highlights from of the City’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, many of these percentages are below 50%. A few examples of revenues that are below the 50% mark due to accruals include Hotel/Motel Taxes at 32.2% and Utility Franchise Taxes at 32.5% under Other City Taxes on page 5. Both of these revenue sources are received quarterly, and each had the first receipt during the fiscal year accrued back to last fiscal year. The report appears as if these revenues are behind budget projections; however, these two revenue sources are actually ahead of last year. The utility enterprise fund service charges have a similar presentation. The City’s utility enterprise fund service charges under Charges for Fees and Services on page 5 are monthly service charges that are also impacted by revenue accruals. For instance, the Water Charges are at 48.3%, the Wastewater Charges are at 45.5%, and the Refuse Charges are at 42.9%. These revenues are under the 50% benchmark due to the accrual of revenues back to last fiscal year, but they are still on target to achieve their annual budget projections. Other individual revenue sources worth noting (on page 5) include: Construction Permit & Inspection Fees are at 100.9% and Building & Development fees are at 101.1%. due to substantial building activity this fall. Operating Grants revenue is at 119.7% due to the receipt of Invest Health grant funds and Library Open Access funds, and Disaster Assistance revenue is at 192.6% due to the receipt of the State’s cost share of prior year disasters. Interest income (on page 6) is at -2.2% due to the method of accruing and allocating interest to the prior year which should correct itself later in the year. The combined total actual revenues for all budgetary funds through December are $99,323,507 or 48.2% 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 2017 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. 1 Some 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%: • HOME Fund expenditures are at 5.0% due to the timing of the payout of loans and grants to applicants. • Debt Service Fund expenditures are at 24.7%, because the general obligation bond principal payments are not due until June 1. • Mass Transit Fund expenditures are at 29.5%, because bus purchases totaling $3.455 million have not occurred yet. • Airport Fund expenditures are at 123.3%, because the City purchased the FBO hangar building for $250,000 earlier this year. • Governmental Projects expenditures are at 18.4% and Enterprise Projects expenditures are at 9.6% because many of the capital projects are scheduled for construction this spring. Overall, the combined total actual expenditures for all budgetary funds through December are $98,757,318 or 37.4% of budget. Overall, the City’s expenditures through the second quarter have a few major anomalies; however, these can be readily explained. Conclusion Generally, there are no major concerns to report with the City’s fund balances at the end of December. One fund, the Community Development Block Grant (CDBG) Fund, is presented (on page 3) with negative fund balance at -$35,085. This negative fund balance should be reversed following the next receipt of CDBG funds. The other fund balances appear to be near expectations. Additional information is available from the Finance Department upon request. 2 Beginning Ending Restricted,Unassigned Fund Year-to-Date Transfers Year-to-Date Transfers Fund Committed,Fund Balance Revenues In Expenditures Out Balance Assigned Balance Budgetary Funds General Fund 10** General Fund 48,135,654$ 25,539,401$ 4,644,126$ 24,769,057$ 5,759,025$ 47,791,099$ 21,471,819$ 26,319,279$ Special Revenue Funds 2100 Community Dev Block Gran 448,892 245,918 - 648,844 81,051 (35,085) - (35,085) 2110 HOME - 104,863 - 39,859 - 65,004 - 65,004 2200 Road Use Tax Fund 5,767,142 3,981,144 165,300 2,517,657 1,210,166 6,185,762 - 6,185,762 2300 Other Shared Revenue 152,415 365,910 - 394,406 - 123,918 - 123,918 2350 Metro Planning Org of J.C.302,423 112,120 134,128 288,227 - 260,444 - 260,444 2400 Employee Benefits 1,670,848 5,763,312 - 492,697 4,713,016 2,228,447 - 2,228,447 2500 Affordable Housing Fund 1,000,000 898 - 500,000 35,824 465,074 465,074 2510 Peninsula Apartments 124,888 38,034 - 24,878 - 138,044 - 138,044 26** Tax Increment Financing 239,487 1,060,192 - - - 1,299,679 236,684 1,062,995 2820 SSMID-Downtown District - 145,879 - 89,685 - 56,195 - 56,195 Debt Service Fund 5*** Debt Service 6,000,281 7,464,459 2,950 3,815,723 - 9,651,967 1,365,118 8,286,849 Permanent Funds 6001 Perpetual Care 116,266 (146) - - - 116,120 - 116,120 Enterprise Funds 710* Parking 10,742,693 2,765,515 - 1,485,191 114,182 11,908,835 5,885,583 6,023,252 715* Mass Transit 5,455,387 1,492,989 1,636,232 3,056,523 - 5,528,086 1,287,299 4,240,786 720* Wastewater 30,106,670 5,644,993 2,221,727 18,091,000 3,396,270 16,486,120 7,030,464 9,455,657 730* Water 16,240,827 4,395,829 972,480 9,082,967 923,706 11,602,463 3,087,191 8,515,272 7400 Refuse Collection 1,245,110 1,366,158 - 1,515,849 - 1,095,420 - 1,095,420 750* Landfill 24,926,190 3,492,962 399,332 2,455,803 285,075 26,077,606 23,801,803 2,275,803 7600 Airport 572,874 165,912 56,605 459,684 5,564 330,142 100,000 230,142 7700 Storm water 1,170,823 825,390 - 287,686 120,005 1,588,522 - 1,588,522 79** Housing Authority 6,350,911 5,052,243 - 4,708,295 23,043 6,671,815 3,060,432 3,611,383 Capital Project Funds Governmental Projects 21,966,585 16,303,716 7,318,402 15,742,555 373,674 29,472,473 - 29,472,473 Enterprise Projects 10,232,849 2,679,364 (510,678) 1,357,692 - 11,043,843 - 11,043,843 Total Budgetary Funds 192,969,216$ 89,007,055$ 17,040,603$ 91,824,278$ 17,040,603$ 190,151,993$ 67,326,394$ 122,825,600$ Non-Budgetary Funds Capital Project Funds Internal Service Projects 66,776$ 83$ -$ 30,468$ -$ 36,391$ -$ 36,391$ Internal Service Funds 810* Equipment 11,749,371 2,942,056 - 2,213,421 - 12,478,007 10,746,058 1,731,948 8200 Risk Management 3,414,156 1,580,155 - 582,934 - 4,411,377 - 4,411,377 830* Information Technology 2,516,722 1,467,083 - 749,903 - 3,233,902 597,871 2,636,031 8400 Central Services 667,695 113,512 - 70,634 - 710,572 - 710,572 8500 Health Insurance Reserves 9,902,794 4,028,027 - 3,119,934 - 10,810,887 4,282,539 6,528,348 8600 Dental Insurance Reserves 137,107 185,536 - 165,745 - 156,898 - 156,898 Total Non-Budgetary Funds 28,454,622$ 10,316,452$ -$ 6,933,040$ -$ 31,838,034$ 15,626,469$ 16,211,565$ Total All Funds 221,423,838$ 99,323,507$ 17,040,603$ 98,757,318$ 17,040,603$ 221,990,027$ 82,952,862$ 139,037,165$ City of Iowa City Fund Summary Fiscal Year 2017 through December 31, 2016 3 2016 Actual 2017 Budget 2017 Revised 2017 Actual Variance Percent Budgetary Fund Revenues General Fund 10** General Fund 48,667,850$ 50,044,369$ 50,044,369$ 25,539,401$ (24,504,968)$ 51.0% Special Revenue Funds 2100 Community Dev Block Grant 989,380 706,000 1,678,012 245,918 (1,432,094) 14.7% 2110 HOME 614,958 421,000 813,343 104,863 (708,480) 12.9% 2200 Road Use Tax Fund 8,411,456 7,906,232 7,906,232 3,981,144 (3,925,088) 50.4% 2300 Other Shared Revenue 380,110 - 825,105 365,910 (459,195) 44.3% 2350 Metro Planning Org of Johnson Co 298,671 319,369 319,369 112,120 (207,249) 35.1% 2400 Employee Benefits 10,516,769 11,144,971 11,144,971 5,763,312 (5,381,659) 51.7% 2500 Affordable Housing Fund 1,000,000 - - 898 898 0.0% 2510 Peninsula Apartments 72,243 74,000 74,000 38,034 (35,966) 51.4% 26** Tax Increment Financing 1,030,833 2,276,953 2,276,953 1,060,192 (1,216,761) 46.6% 2820 SSMID-Downtown District 295,284 321,151 317,859 145,879 (171,980) 45.9% Debt Service Fund 5*** Debt Service 13,301,893 13,645,137 14,302,460 7,464,459 (6,838,001) 52.2% Permanent Funds 6001 Perpetual Care 384 500 500 (146) (646) -29.2% Enterprise Funds 710* Parking 11,016,908 5,625,275 5,625,275 2,765,515 (2,859,760) 49.2% 715* Mass Transit 4,582,386 7,120,613 7,196,613 1,492,989 (5,703,624) 20.7% 720* Wastewater 22,742,715 12,588,588 12,588,588 5,644,993 (6,943,595) 44.8% 730* Water 13,346,893 9,111,655 9,111,655 4,395,829 (4,715,826) 48.2% 7400 Refuse Collection 3,130,252 3,173,900 3,173,900 1,366,158 (1,807,742) 43.0% 750* Landfill 6,268,826 5,977,982 5,977,982 3,492,962 (2,485,020) 58.4% 7600 Airport 341,499 359,500 359,500 165,912 (193,588) 46.2% 7700 Storm Water 1,173,615 1,516,221 1,516,221 825,390 (690,831) 54.4% 79** Housing Authority 8,819,308 8,501,334 8,501,334 5,052,243 (3,449,091) 59.4% Capital Project Funds Governmental Projects 16,503,591 19,553,084 40,029,738 16,303,716 (23,726,022) 40.7% Enterprise Projects 1,911,092 2,690,898 3,450,366 2,679,364 (771,002) 77.7% Total Budgetary Revenues 175,416,916$ 163,078,732$ 187,234,345$ 89,007,055$ (98,227,290)$ 47.5% Non-Budgetary Fund Revenues - Capital Project Funds Internal Service Projects 25,195$ -$ -$ 83$ 83$ 0.0% Internal Service Funds 810* Equipment 5,912,284 6,379,763 6,379,763 2,942,056 (3,437,707) 46.1% 8200 Risk Management 1,547,056 1,623,145 1,623,145 1,580,155 (42,990) 97.4% 830* Information Technology 1,870,446 2,150,510 2,150,510 1,467,083 (683,427) 68.2% 8400 Central Services 243,265 269,844 269,844 113,512 (156,332) 42.1% 8500 Health Insurance Reserves 7,217,213 8,027,508 8,027,508 4,028,027 (3,999,481) 50.2% 8600 Dental Insurance Reserves 364,364 382,627 382,627 185,536 (197,091) 48.5% Total Non-Budgetary Expenditures 17,179,823$ 18,833,397$ 18,833,397$ 10,316,452$ (8,517,028)$ 54.8% Total Revenues - All Funds 192,596,739$ 181,912,129$ 206,067,742$ 99,323,507$ (106,744,317)$ 48.2% City of Iowa City Revenues by Fund Fiscal Year 2017 through December 31, 2016 4 2016 Actual 2017 Budget 2017 Revised 2017 Actual Variance Percent Budgetary Fund Revenues Property Taxes 52,020,805$ 55,330,224$ 55,330,224$ 27,858,253$ (27,471,971)$ 50.3% Other City Taxes: TIF Revenues 1,027,218 2,276,953 2,276,953 1,060,379 (1,216,574) 46.6% Gas/Electric Excise Taxes 764,260 746,043 746,043 363,318 (382,725) 48.7% Mobile Home Taxes 65,497 68,265 68,265 36,913 (31,352) 54.1% Hotel/Motel Taxes 1,078,762 1,057,385 1,057,385 340,654 (716,731) 32.2% Utility Franchise Tax 874,235 901,690 901,690 293,408 (608,282) 32.5% Subtotal 3,809,972 5,050,336 5,050,336 2,094,672 (2,955,664) 41.5% Licenses, Permits, & Fees: General Use Permits 82,496 104,047 104,047 10,567 (93,480) 10.2% Food & Liquor Licenses 92,738 120,650 120,650 62,118 (58,532) 51.5% Professional License 18,700 18,660 18,660 6,510 (12,150) 34.9% Franchise Fees 733,644 720,000 720,000 189,131 (530,869) 26.3% Construction Permits & Insp Fees 2,102,624 1,463,225 1,463,225 1,477,108 13,883 100.9% Misc Lic & Permits 35,657 36,600 36,600 21,696 (14,905) 59.3% Subtotal 3,065,859 2,463,182 2,463,182 1,767,130 (696,052) 71.7% Intergovernmental: Fed Intergovernment Revenue 12,693,466 15,181,625 22,356,506 5,600,596 (16,755,910) 25.1% Property Tax Credits 2,088,758 1,671,368 1,668,076 799,579 (868,497) 47.9% Road Use Tax 8,320,117 7,837,116 7,837,116 3,862,433 (3,974,683) 49.3% State 28E Agreements 2,058,908 1,785,000 1,785,000 1,813,044 28,044 101.6% Operating Grants 104,197 89,743 89,743 107,409 17,666 119.7% Disaster Assistance 118,068 - 97,071 186,974 89,903 192.6% Other State Grants 6,711,203 4,978,045 5,514,452 3,973,204 (1,541,248) 72.1% Local 28E Agreements 1,378,455 1,038,149 1,038,149 582,574 (455,575) 56.1% Subtotal 33,473,172 32,581,046 40,386,113 16,925,813 (23,460,300) 41.9% Charges For Fees And Services: Building & Development 1,719,875 401,750 437,612 442,410 4,798 101.1% Police Services 112,112 44,121 44,121 78,331 34,210 177.5% Animal Care Services 10,400 10,000 10,000 5,731 (4,270) 57.3% Fire Services 9,244 9,000 9,000 7,860 (1,140) 87.3% Transit Fees 1,299,179 1,448,900 1,448,900 561,232 (887,668) 38.7% Culture & Recreation 761,363 812,093 812,093 286,934 (525,159) 35.3% Library Charges 22 - - 20 20 0.0% Misc Charges For Services 71,270 66,692 66,692 40,416 (26,276) 60.6% Water Charges 9,138,197 8,931,156 8,931,156 4,318,160 (4,612,996) 48.3% Wastewater Charges 12,264,380 12,201,600 12,201,600 5,553,180 (6,648,420) 45.5% Refuse Charges 3,491,480 3,608,800 3,608,800 1,546,497 (2,062,303) 42.9% Landfill Charges 5,686,853 5,341,722 5,341,722 3,208,536 (2,133,186) 60.1% Storm water Charges 1,167,517 1,477,710 1,477,710 669,557 (808,153) 45.3% Parking Charges 5,927,772 5,965,154 5,965,154 3,158,353 (2,806,801) 52.9% Subtotal 41,659,663 40,318,698 40,354,560 19,877,217 (20,477,344) 49.3% Miscellaneous: Code Enforcement 253,174 300,500 300,500 105,068 (195,432) 35.0% Parking Fines 549,575 620,000 620,000 251,783 (368,217) 40.6% Library Fines & Fees 155,519 160,000 160,000 75,103 (84,897) 46.9% Contributions & Donations 609,723 517,519 1,082,519 296,065 (786,454) 27.3% Printed Materials 49,456 44,326 44,326 21,082 (23,244) 47.6% Animal Adoption 14,190 13,000 13,000 6,290 (6,710) 48.4% Misc Merchandise 57,644 53,522 53,522 41,954 (11,568) 78.4% Intra-City Charges 3,112,634 4,003,742 4,003,742 1,938,863 (2,064,879) 48.4% Other Misc Revenue 739,617 708,915 1,563,599 1,207,207 (356,392) 77.2% Special Assessments 1,615 604 604 232 (372) 38.4% Subtotal 5,543,146$ 6,422,128$ 7,841,812$ 3,943,648$ (3,898,164)$ 50.3% City of Iowa City Revenues by Type Fiscal Year 2017 through December 31, 2016 5 2016 Actual 2017 Budget 2017 Revised 2017 Actual Variance Percent City of Iowa City Revenues by Type Fiscal Year 2017 through December 31, 2016 Use Of Money And Property: Interest Revenues 1,040,598$ 927,821$ 927,821$ (20,221)$ (948,042)$ -2.2% Rents 1,265,519 1,256,057 1,256,057 658,582 (597,475) 52.4% Royalties & Commissions 149,751 113,814 113,814 51,638 (62,176) 45.4% Subtotal 2,455,867 2,297,692 2,297,692 689,998 (1,607,694) 30.0% Other Financial Sources: Debt Sales 23,897,097 16,187,000 28,992,000 12,805,000 (16,187,000) 44.2% Sale Of Assets 7,747,095 993,389 3,083,389 2,439,341 (644,048) 79.1% Loans 1,744,239 1,435,038 1,435,038 605,983 (829,055) 42.2% Subtotal 33,388,431 18,615,427 33,510,427 15,850,324 (17,660,103) 47.3% Total Budgetary Revenues 175,416,916$ 163,078,733$ 187,234,346$ 89,007,055$ (98,227,291) 47.5% Non-Budgetary Fund Revenues Capital Project Funds 25,195$ -$ -$ 83$ 83$ 0.0% Internal Service Funds 17,154,628 18,833,397 18,833,397 10,316,369 (8,517,028) 54.8% Total Non-Budgetary Revenues 17,179,823$ 18,833,397$ 18,833,397$ 10,316,452$ (8,516,945)$ 54.8% Total Revenues - All Funds 192,596,739$ 181,912,130$ 206,067,743$ 99,323,507$ (106,744,236)$ 48.2% 6 2016 Actual 2017 Budget 2017 Revised 2017 Actual Variance Percent Budgetary Fund Expenditures General Fund 10** General Fund 49,198,596$ 54,585,583$ 54,960,394$ 24,769,057$ 30,191,337$ 45.1% Special Revenue Funds 2100 Community Dev Block Grant 659,901 719,713 1,696,735 648,844 1,047,891 38.2% 2110 HOME 747,816 428,108 801,716 39,859 761,857 5.0% 2200 Road Use Tax Fund 5,436,882 5,969,763 5,985,013 2,517,657 3,467,356 42.1% 2300 Other Shared Revenue 446,465 - 970,712 394,406 576,306 40.6% 2350 Metro Planning Org of Johnson Co.558,489 616,729 616,729 288,227 328,502 46.7% 2400 Employee Benefits 1,054,857 1,212,865 1,212,865 492,697 720,168 40.6% 2500 Affordable Housing Fund - - - 500,000 (500,000) 0.0% 2510 Peninsula Apartments 52,501 56,879 56,879 24,878 32,001 43.7% 26** Tax Increment Financing - 42,500 42,500 - 42,500 0.0% 2820 SSMID-Downtown District 295,284 321,151 321,151 89,685 231,466 27.9% Debt Service Fund 5*** Debt Service 15,016,250 15,146,227 15,419,400 3,815,723 11,603,677 24.7% Permanent Funds 6001 Perpetual Care - - - - - 0.0% Enterprise Funds 710* Parking 3,212,740 3,490,001 3,490,001 1,485,191 2,004,810 42.6% 715* Mass Transit 6,917,901 10,251,640 10,346,640 3,056,523 7,290,117 29.5% 720* Wastewater 10,674,085 10,593,521 21,258,521 18,091,000 3,167,521 85.1% 730* Water 7,686,557 8,558,936 12,724,240 9,082,967 3,641,273 71.4% 7400 Refuse Collection 2,935,579 3,142,730 3,142,730 1,515,849 1,626,881 48.2% 750* Landfill 4,550,095 4,505,413 4,625,413 2,455,803 2,169,610 53.1% 7600 Airport 408,276 372,709 372,709 459,684 (86,975) 123.3% 7700 Storm water 738,102 624,077 662,627 287,686 374,941 43.4% 79** Housing Authority 8,334,915 7,655,761 7,655,761 4,708,295 2,947,466 61.5% Capital Project Funds Governmental Projects 19,479,006 35,452,225 85,483,245 15,742,555 69,740,690 18.4% Enterprise Projects 3,893,109 4,517,923 14,169,410 1,357,692 12,811,718 9.6% Total Budgetary Expenditures 142,297,407$ 168,264,454$ 246,015,391$ 91,824,278$ 154,191,113$ 37.3% Non-Budgetary Funds Expenditures Capital Project Funds Internal Service Projects 424,014$ -$ -$ 30,468$ (30,468) 0.0% Internal Service Funds 810* Equipment 5,181,051 4,809,295 5,953,508 2,213,421 3,740,087 37.2% 8200 Risk Management 1,431,387 1,571,941 1,571,941 582,934 989,007 37.1% 830* Information Technology 1,834,060 2,108,294 2,108,294 749,903 1,358,391 35.6% 8400 Central Services 234,097 251,840 251,840 70,634 181,206 28.0% 8500 Health Insurance Reserves 7,934,757 8,002,151 8,002,151 3,119,934 4,882,217 39.0% 8600 Dental Insurance Reserves 370,061 375,896 375,896 165,745 210,151 44.1% Total Non-Budgetary Expenditures 17,409,427$ 17,119,417$ 18,263,630$ 6,933,040$ 11,330,590$ 38.0% Total Expenditures - All Funds 159,706,834$ 185,383,871$ 264,279,021$ 98,757,318$ 165,521,703$ 37.4% City of Iowa City Expenditures by Fund Fiscal Year 2017 through December 31, 2016 7 2016 Actual 2017 Budget 2017 Revised 2017 Actual Variance Percent Budgetary Funds Expenditures General Fund 10** General Fund City Council 107,734$ 109,426$ 109,426$ 57,454$ 51,972$ 52.5% City Clerk 524,931 536,351 536,351 271,874 264,477 50.7% City Attorney 681,567 738,002 738,002 340,045 397,957 46.1% City Manager 2,154,215 2,522,541 2,522,541 999,655 1,522,886 39.6% Finance 3,598,454 4,243,950 4,243,950 2,242,914 2,001,036 52.8% Police 12,443,824 13,313,329 13,395,570 6,061,626 7,333,944 45.3% Fire 7,486,024 7,876,882 7,969,064 3,764,023 4,205,041 47.2% Parks & Recreation 7,337,290 8,079,336 8,104,336 3,728,491 4,375,845 46.0% Library 6,083,035 6,347,022 6,347,022 2,939,661 3,407,361 46.3% Senior Center 823,993 954,090 994,808 402,502 592,306 40.5% Neighborhood & Development Services 6,614,830 6,892,339 7,027,009 2,885,145 4,141,864 41.1% Public Works 1,342,700 2,317,845 2,317,845 795,499 1,522,346 34.3%Transportation & Resource Management - 654,470 654,470 280,168 374,302 42.8% Total General Fund 49,198,596 54,585,583 54,960,394 24,769,057 30,191,337 45.1% Special Revenue Funds 2100 Community Dev Block Grant Neighborhood & Development Services 659,901 719,713 1,696,735 648,844 1,047,891 38.2% 2110 HOME Neighborhood & Development Services 747,816 428,108 801,716 39,859 761,857 5.0% 2200 Road Use Tax Fund Public Works 5,436,882 5,969,763 5,985,013 2,517,657 3,467,356 42.1% 2300 Other Shared Revenue Neighborhood & Development Services 446,465 - 970,712 394,406 576,306 40.6% 2350 Metro Planning Org of Johnson Co Neighborhood & Development Services 558,489 616,729 616,729 288,227 328,502 46.7% 2400 Employee Benefits Finance 1,054,857 1,212,865 1,212,865 492,697 720,168 40.6% 2500 Affordable Housing Fund Neighborhood & Development Services - - - 500,000 (500,000) 0.0% 2510 Peninsula Apartments Neighborhood & Development Services 52,501 56,879 56,879 24,878 32,001 43.7% 26** Tax Increment FinancingNeighborhood & Development Services - 42,500 42,500 - 42,500 0.0% 2820 SSMID-Downtown District Neighborhood & Development Services 295,284 321,151 321,151 89,685 231,466 27.9% Total Special Revenue Funds 9,252,195 9,367,708 11,704,300 4,996,254 6,708,046 42.7% Debt Service Fund 5*** Debt Service Finance 15,016,250 15,146,227 15,419,400 3,815,723 11,603,677 24.7% Total Debt Service Fund 15,016,250 15,146,227 15,419,400 3,815,723 11,603,677 24.7% Permanent Fund 6001 Perpetual Care Parks & Recreation - - - - - 0.0% Total Permanent Fund -$ -$ -$ -$ -$ 0.0% City of Iowa City Expenditures by Fund by Department Fiscal Year 2017 through December 31, 2016 8 2016 Actual 2017 Budget 2017 Revised 2017 Actual Variance Percent City of Iowa City Expenditures by Fund by Department Fiscal Year 2017 through December 31, 2016 Enterprise Funds 710* Parking Transportation & Resource Management 3,212,740$ 3,490,001$ 3,490,001$ 1,485,191$ 2,004,810$ 42.6% 715* Mass Transit Transportation & Resource Management 6,917,901 10,251,640 10,346,640 3,056,523 7,290,117 29.5% 720* Wastewater Public Works 10,674,085 10,593,521 21,258,521 18,091,000 3,167,521 85.1% 730* Water Public Works 7,686,557 8,558,936 12,724,240 9,082,967 3,641,273 71.4% 7400 Refuse Collection Transportation & Resource Management 2,935,579 3,142,730 3,142,730 1,515,849 1,626,881 48.2% 750* Landfill Transportation & Resource Management 4,550,095 4,505,413 4,625,413 2,455,803 2,169,610 53.1% 7600 Airport Airport Operations 408,276 372,709 372,709 459,684 (86,975) 123.3% 7700 Storm water Public Works 738,102 624,077 662,627 287,686 374,941 43.4% 79** Housing Authority Neighborhood & Development Services 8,334,915 7,655,761 7,655,761 4,708,295 2,947,466 61.5% Total Enterprise Funds 45,458,251 49,194,788 64,278,642 41,142,997 23,135,645 64.0% Capital Project Funds Governmental Projects 19,479,006 35,452,225 85,483,245 15,742,555 69,740,690 18.4% Enterprise Projects 3,893,109 4,517,923 14,169,410 1,357,692 12,811,718 9.6% Total Capital Project Funds 23,372,115 39,970,148 99,652,655 17,100,247 82,552,408 17.2% Total Budgetary Expenditures 142,297,407$ 168,264,454$ 246,015,391$ 91,824,278$ 154,191,113$ 37.3% Non-Budgetary Funds Expenditures Capital Project Funds Internal Service Projects 424,014$ -$ -$ 30,468$ (30,468)$ 0.0% Total Capital Project Funds 424,014 - - 30,468 (30,468) 0.0% Internal Service Funds 810* Equipment Public Works 5,181,051 4,809,295 5,953,508 2,213,421 3,740,087 37.2% 8200 Risk Management Finance 1,431,387 1,571,941 1,571,941 582,934 989,007 37.1% 830* Information Technology Finance 1,834,060 2,108,294 2,108,294 749,903 1,358,391 35.6% 8400 Central Services Finance 234,097 251,840 251,840 70,634 181,206 28.0% 8500 Health Insurance Reserves Finance 7,934,757 8,002,151 8,002,151 3,119,934 4,882,217 39.0% 8600 Dental Insurance Reserves Finance 370,061 375,896 375,896 165,745 210,151 44.1% Total Internal Service Funds 16,985,412 17,119,417 18,263,630 6,902,572 11,361,058 37.8% Total Non-Budgetary Expenditures 17,409,427$ 17,119,417$ 18,263,630$ 6,933,040$ 11,330,590$ 38.0% Total Expenditures - All Funds 159,706,834$ 185,383,871$ 264,279,021$ 98,757,318$ 165,521,703$ 37.4% 9