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FY2018 2nd Qtr Financial Summary Date: January 11, 2018 To: City Manager, City Council From: Jacklyn Budding, Budget & Compliance Officer Re: Quarterly Financial Summary for Period Ending December 31, 2017 Introduction Attached to this memorandum are the City’s quarterly financial reports as of December 31, 2017. The quarterly financial report includes combined summaries of all fund balances, revenues, and expenditures for fiscal year 2018 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%. A few examples of revenues that are below the 50% mark due to accruals include Hotel/Motel Taxes at 27.6% and Utility Franchise Taxes at 31.4% 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 in line with 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 48.0%, the Wastewater Charges are at 46.6%, and the Refuse Charges are at 46.7%. 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. In addition, on page 5, Operating Grants revenue is at 90.2% due to the receipt of the Disney Play grant, and State 28E Agreements revenue is at 115.3% due to the timing of the receipt of the Fire Contract with the University of Iowa. Disaster Assistance Revenue is at 316.2% due to the receipt of FEMA funding for the reimbursement of FY13 Flooding Projects, and Interest Revenue is at 25.6% due to the timing of the interest accrual. Funds with budget anomalies on page 4 worth noting: the Parking fund has actual revenues at 91.3% due to the sale of land at Augusta Place; and the Risk Management fund has actual revenues at 102.6% due to the timing of the entries made for loss reserve payments to intra-city charges. Additionally, the Governmental Projects fund has negative revenues of -0.3% due to the transfer of bond funds from Governmental Projects to Enterprise Projects. The combined total actual revenues for all budgetary funds through December are $74,147,552 or 44.0% 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 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 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%: • Other Shared Revenue fund is at 74.1% due to property acquisitions from grants. • Debt Service Fund expenditures are at 27.2%, because the general obligation bond principal payments are not due until June 1. • Wastewater fund is at 79.5% due bond principal and interest payments paid in July. • Water fund is at 76.2% due to bond principal and interest payments paid in July. • Governmental Projects expenditures are at 15.9% and Enterprise Projects expenditures are at 22.5% because many of the capital projects are scheduled for construction this spring. • Risk Management fund is at 70.0% due to workers comp claims and internal charges. Overall, the combined total actual expenditures for all budgetary funds through December are $89,192,876 or 35.5% 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. One fund is presented (on page 3) with negative fund balance, the Community Development Block Grant fund at -$49,738. This negative fund balances should reverse following the receipt of grant proceeds. The other fund balances appear healthy. Additional information is available from the Finance Department upon request. 2 Beginning Ending Restricted, Unassigned Fund Year-to-Date Transfers Year-to-Date Transfers Fund Committed, Fund Balance Revenues In Expenditures Out Balance Assigned Balance Budgetary Funds General Fund 10** General Fund 40,724,250$ 26,806,500$ 4,903,500$ 25,400,544$ 2,028,799$ 45,004,908$ 14,901,557$ 30,103,351$ Special Revenue Funds 2100 Community Dev Block Grant (90,569) 199,758 - 158,927 - (49,738) - (49,738) 2110 HOME 113,005 383,060 - 394,366 3,048 98,651 - 98,651 2200 Road Use Tax Fund 5,714,241 3,897,569 227,944 2,726,095 1,349,269 5,764,390 - 5,764,390 2300 Other Shared Revenue 82,485 228,349 5 278,062 - 32,777 - 32,777 2350 Metro Planning Org of J.C. 256,738 125,277 138,102 288,562 - 231,555 - 231,555 2400 Employee Benefits 2,520,948 6,176,316 - 418,341 4,986,830 3,292,091 - 3,292,091 2500 Affordable Housing Fund 468,102 (593) - 325,000 - 142,509 - 142,509 2510 Peninsula Apartments 143,381 37,608 - 20,981 - 160,009 - 160,009 26** Tax Increment Financing 482,246 1,250,059 - - - 1,732,305 476,815 1,255,490 2820 SSMID-Downtown District - 181,558 - 88,682 - 92,876 - 92,876 Debt Service Fund 5*** Debt Service 7,232,185 6,802,262 256 3,873,973 - 10,160,730 1,331,128 8,829,602 Enterprise Funds 710* Parking 11,082,223 5,407,226 - 1,948,224 317,655 14,223,570 5,211,794 9,011,776 715* Mass Transit 6,427,042 1,385,311 1,691,138 3,082,516 - 6,420,975 1,275,049 5,145,927 720* Wastewater 25,193,871 5,836,390 2,071,944 12,613,352 3,320,690 17,168,164 6,853,851 10,314,314 730* Water 18,111,079 4,431,895 910,299 10,844,548 816,910 11,791,815 2,693,842 9,097,973 7400 Refuse Collection 1,351,518 1,490,069 - 1,490,365 (13,859) 1,365,080 - 1,365,080 750* Landfill 26,735,286 3,450,997 381,304 2,350,826 274,987 27,941,774 25,185,902 2,755,872 7600 Airport 308,219 156,691 54,844 200,977 - 318,776 100,000 218,776 7700 Storm water 1,031,911 690,698 - 258,490 457,568 1,006,552 - 1,006,552 79** Housing Authority 6,756,668 4,825,975 3,048 5,189,644 23,390 6,372,658 3,105,509 3,267,150 Capital Project Funds Governmental Projects 43,433,631 (62,022) 2,457,966 12,551,801 24,878 33,252,896 - 33,252,896 Enterprise Projects 13,294,586 446,599 751,803 4,688,598 1,988 9,802,402 - 9,802,402 Total Budgetary Funds 211,373,048$ 74,147,552$ 13,592,152$ 89,192,876$ 13,592,152$ 196,327,725$ 61,135,445$ 135,192,280$ Non-Budgetary Funds Capital Project Funds Internal Service Projects -$ -$ -$ -$ -$ -$ -$ -$ Internal Service Funds 810* Equipment 13,165,375 3,209,111 - 2,685,879 - 13,688,607 11,552,486 2,136,121 8200 Risk Management 3,803,525 1,642,809 - 1,030,207 - 4,416,127 - 4,416,127 830* Information Technology 2,539,463 1,512,424 - 919,162 - 3,132,724 505,638 2,627,087 8400 Central Services 708,450 109,543 - 71,813 - 746,180 - 746,180 8500 Health Insurance Reserves 10,821,196 4,105,711 - 3,774,951 - 11,151,956 4,844,311 6,307,645 8600 Dental Insurance Reserves 147,348 202,630 - 173,521 - 176,457 - 176,457 Total Non-Budgetary Funds 31,185,356$ 10,782,228$ -$ 8,655,532$ -$ 33,312,052$ 16,902,435$ 16,409,617$ Total All Funds 242,558,405$ 84,929,780$ 13,592,152$ 97,848,408$ 13,592,152$ 229,639,777$ 78,037,880$ 151,601,897$ City of Iowa City Fund Summary Fiscal Year 2018 through December 31, 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$ 26,806,500$ (25,132,235)$ 51.6% Special Revenue Funds 2100 Community Dev Block Grant 1,020,981 693,031 879,069 199,758 (679,311) 22.7% 2110 HOME 305,087 486,444 1,134,122 383,060 (751,062) 33.8% 2200 Road Use Tax Fund 8,803,148 8,393,630 8,393,630 3,897,569 (4,496,061) 46.4% 2300 Other Shared Revenue 577,060 - 348,153 228,349 (119,804) 65.6% 2350 Metro Planning Org of Johnson Co 295,966 306,820 306,820 125,277 (181,543) 40.8% 2400 Employee Benefits 11,145,984 11,496,472 11,496,472 6,176,316 (5,320,157) 53.7% 2500 Affordable Housing Fund 3,926 - - (593) (593) 0.0% 2510 Peninsula Apartments 77,516 74,155 74,155 37,608 (36,547) 50.7% 26** Tax Increment Financing 2,230,731 2,333,912 2,333,912 1,250,059 (1,083,853) 53.6% 2820 SSMID-Downtown District 318,343 355,350 355,350 181,558 (173,792) 51.1% Debt Service Fund 5*** Debt Service 14,353,841 13,223,418 13,223,418 6,802,262 (6,421,156) 51.4% Enterprise Funds 710* Parking 5,527,930 5,922,530 5,922,530 5,407,226 (515,304) 91.3% 715* Mass Transit 4,812,638 4,193,204 7,848,459 1,385,311 (6,463,148) 17.7% 720* Wastewater 17,883,190 12,589,340 12,589,340 5,836,390 (6,752,950) 46.4% 730* Water 14,934,666 9,268,096 9,268,096 4,431,895 (4,836,201) 47.8% 7400 Refuse Collection 3,159,783 3,411,689 3,411,689 1,490,069 (1,921,620) 43.7% 750* Landfill 7,089,948 6,234,063 6,234,063 3,450,997 (2,783,066) 55.4% 7600 Airport 348,499 359,500 359,500 156,691 (202,809) 43.6% 7700 Storm Water 1,688,423 1,483,550 1,483,550 690,698 (792,852) 46.6% 79** Housing Authority 9,103,051 8,769,397 8,769,397 4,825,975 (3,943,422) 55.0% Capital Project Funds Governmental Projects 34,506,605 16,997,084 17,931,571 (62,022) (17,993,593) -0.3% Enterprise Projects 4,492,040 3,529,110 4,395,643 446,599 (3,949,044) 10.2% Total Budgetary Revenues 193,830,381$ 161,391,150$ 168,697,674$ 74,147,552$ (94,550,122)$ 44.0% 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 3,209,111 (2,897,180) 52.6% 8200 Risk Management 1,625,495 1,600,954 1,600,954 1,642,809 41,855 102.6% 830* Information Technology 2,147,457 2,270,295 2,270,295 1,512,424 (757,871) 66.6% 8400 Central Services 241,819 239,151 239,151 109,543 (129,608) 45.8% 8500 Health Insurance Reserves 8,136,943 8,746,421 8,746,421 4,105,711 (4,640,710) 46.9% 8600 Dental Insurance Reserves 384,243 396,674 396,674 202,630 (194,044) 51.1% Total Non-Budgetary Revenues 18,636,114$ 19,359,786$ 19,359,786$ 10,782,228$ (8,577,558)$ 55.7% Total Revenues - All Funds 212,466,494$ 180,750,936$ 188,057,460$ 84,929,780$ (103,127,680)$ 45.2% City of Iowa City Revenues by Fund Fiscal Year 2018 through December 31, 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$ 29,620,825$ (26,837,574)$ 52.5% Other City Taxes: TIF Revenues 2,226,302 2,333,912 2,333,912 1,247,813 (1,086,099) 53.5% Gas/Electric Excise Taxes 726,457 681,149 681,149 342,323 (338,826) 50.3% Mobile Home Taxes 65,153 65,480 65,480 38,199 (27,281) 58.3% Hotel/Motel Taxes 1,136,712 1,078,760 1,078,760 297,569 (781,191) 27.6% Utility Franchise Tax 939,387 895,000 895,000 281,241 (613,759) 31.4% Subtotal 5,094,011 5,054,301 5,054,301 2,207,145 (2,847,156) 43.7% Licenses, Permits, & Fees: General Use Permits 104,296 82,510 82,510 6,219 (76,292) 7.5% Food & Liquor Licenses 111,438 92,740 92,740 63,659 (29,081) 68.6% Professional License 12,015 18,710 18,710 4,325 (14,385) 23.1% Franchise Fees 685,659 692,140 692,140 182,525 (509,615) 26.4% Construction Permits & Insp Fees 2,578,024 1,639,240 1,639,240 1,020,104 (619,136) 62.2% Misc Lic & Permits 39,951 36,320 36,320 22,943 (13,377) 63.2% Subtotal 3,531,383 2,561,660 2,561,660 1,299,774 (1,261,886) 50.7% Intergovernmental: Fed Intergovernment Revenue 12,147,485 14,280,110 16,732,411 5,298,979 (11,433,432) 31.7% Property Tax Credits 1,590,863 1,603,881 1,603,881 781,311 (822,570) 48.7% Road Use Tax 8,672,279 8,320,120 8,320,120 3,842,745 (4,477,375) 46.2% State 28E Agreements 1,813,044 1,687,575 1,687,575 1,946,439 258,864 115.3% Operating Grants 139,474 81,850 81,850 73,825 (8,025) 90.2% Disaster Assistance 217,718 - 34,815 110,085 75,270 316.2% Other State Grants 12,999,581 2,295,514 6,259,542 482,992 (5,776,550) 7.7% Local 28E Agreements 1,418,467 1,005,860 1,005,860 688,416 (317,444) 68.4% Subtotal 38,998,911 29,274,910 35,726,054 13,224,794 (22,501,260) 37.0% Charges For Fees And Services: Building & Development 969,936 445,620 445,620 280,875 (164,745) 63.0% Police Services 143,562 37,237 37,237 64,208 26,971 172.4% Animal Care Services 11,545 10,400 10,400 5,485 (4,915) 52.7% Fire Services 10,370 8,660 8,660 3,672 (4,989) 42.4% Transit Fees 1,260,923 1,299,190 1,299,190 534,771 (764,419) 41.2% Culture & Recreation 780,147 820,454 820,454 307,860 (512,594) 37.5% Misc Charges For Services 72,138 68,628 68,628 33,308 (35,320) 48.5% Water Charges 9,279,458 9,102,056 9,102,056 4,373,488 (4,728,568) 48.0% Wastewater Charges 12,276,259 12,214,720 12,214,720 5,696,652 (6,518,068) 46.6% Refuse Charges 3,588,837 3,772,349 3,772,349 1,762,550 (2,009,800) 46.7% Landfill Charges 6,273,574 5,686,860 5,686,860 3,089,615 (2,597,245) 54.3% Storm water Charges 1,522,294 1,477,710 1,477,710 683,353 (794,357) 46.2% Parking Charges 5,910,725 6,319,394 6,319,394 3,139,140 (3,180,254) 49.7% Subtotal 42,099,767 41,263,278 41,263,278 19,974,976 (21,288,302) 48.4% Miscellaneous: Code Enforcement 238,295 253,180 253,180 105,077 (148,103) 41.5% Parking Fines 578,713 549,580 549,580 497,674 (51,906) 90.6% Library Fines & Fees 154,425 155,520 155,520 70,496 (85,024) 45.3% Contributions & Donations 705,917 377,972 392,972 479,770 86,798 122.1% Printed Materials 43,411 48,400 48,400 22,758 (25,642) 47.0% Animal Adoption 12,015 14,190 14,190 7,965 (6,225) 56.1% Misc Merchandise 55,052 54,930 54,930 30,664 (24,266) 55.8% Intra-City Charges 3,795,296 4,226,884 4,226,884 1,939,699 (2,287,185) 45.9% Other Misc Revenue 2,118,650 779,349 956,349 280,223 (676,126) 29.3% Special Assessments 1,087 1,000 1,000 364 (636) 36.4% Subtotal 7,702,861$ 6,461,005$ 6,653,005$ 3,434,688$ (3,218,317)$ 51.6% City of Iowa City Revenues by Type Fiscal Year 2018 through December 31, 2017 5 2017 Actual 2018 Budget 2018 Revised 2018 Actual Variance Percent City of Iowa City Revenues by Type Fiscal Year 2018 through December 31, 2017 Use Of Money And Property: Interest Revenues 1,551,921$ 1,022,383$ 1,022,763$ 261,842$ (760,921)$ 25.6% Rents 1,370,376 1,307,630 1,307,630 637,471 (670,159) 48.8% Royalties & Commissions 140,491 94,950 94,950 48,197 (46,753) 50.8% Subtotal 3,062,788 2,424,963 2,425,343 947,510 (1,477,833) 39.1% 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 2,760,447 140,939 105.4% Loans 1,106,510 1,265,042 1,265,042 677,394 (587,648) 53.5% Subtotal 37,983,302 17,892,634 18,555,634 3,437,841 (15,117,793) 18.5% Total Budgetary Revenues 193,830,381$ 161,391,150$ 168,697,674$ 74,147,552$ (94,550,122) 44.0% Non-Budgetary Fund Revenues Capital Project Funds 174$ -$ -$ -$ -$ 0.0% Internal Service Funds 18,635,940 19,359,786 19,359,786 10,782,228 (8,577,558) 55.7% Total Non-Budgetary Revenues 18,636,114$ 19,359,786$ 19,359,786$ 10,782,228$ (8,577,558)$ 55.7% Total Revenues - All Funds 212,466,494$ 180,750,936$ 188,057,460$ 84,929,780$ (103,127,680)$ 45.2% 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$ 25,400,544$ 32,991,133$ 43.5% Special Revenue Funds 2100 Community Dev Block Grant 1,390,132 568,686 754,724 158,927 595,797 21.1% 2110 HOME 192,082 465,444 1,113,122 394,366 718,756 35.4% 2200 Road Use Tax Fund 5,262,429 6,221,226 6,421,726 2,726,095 3,695,631 42.5% 2300 Other Shared Revenue 652,152 - 375,158 278,062 97,096 74.1% 2350 Metro Planning Org of Johnson Co. 609,907 633,977 633,977 288,562 345,415 45.5% 2400 Employee Benefits 868,301 1,243,475 1,243,475 418,341 825,134 33.6% 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 20,981 32,576 39.2% 26** Tax Increment Financing - 332,365 332,365 - 332,365 0.0% 2820 SSMID-Downtown District 318,343 355,350 355,350 88,682 266,668 25.0% Debt Service Fund 5*** Debt Service 15,218,289 14,256,417 14,256,417 3,873,973 10,382,444 27.2% Enterprise Funds 720* Wastewater 21,260,750 10,601,444 15,867,503 12,613,352 3,254,151 79.5% 730* Water 12,372,374 8,465,881 14,240,160 10,844,548 3,395,612 76.2% 7400 Refuse Collection 3,053,376 3,427,206 3,427,206 1,490,365 1,936,841 43.5% 750* Landfill 4,973,964 4,902,903 4,987,903 2,350,826 2,637,077 47.1% 7600 Airport 665,802 369,187 369,187 200,977 168,210 54.4% 7700 Storm water 747,069 518,983 518,983 258,490 260,493 49.8% 79** Housing Authority 8,651,207 8,201,363 8,201,363 5,189,644 3,011,719 63.3% Capital Project Funds Governmental Projects 32,902,808 32,530,291 78,905,612 12,551,801 66,353,811 15.9% Enterprise Projects 3,657,836 8,825,015 20,830,218 4,688,598 16,141,620 22.5% Total Budgetary Expenditures 175,931,866$ 173,318,414$ 251,164,819$ 89,192,876$ 161,971,943$ 35.5% 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 2,685,879 2,818,069 48.8% 8200 Risk Management 1,236,127 1,472,081 1,472,081 1,030,207 441,874 70.0% 830* Information Technology 1,624,715 2,217,207 2,217,207 919,162 1,298,045 41.5% 8400 Central Services 201,065 262,163 262,163 71,813 190,350 27.4% 8500 Health Insurance Reserves 7,218,542 8,341,355 8,341,355 3,774,951 4,566,404 45.3% 8600 Dental Insurance Reserves 374,002 399,386 399,386 173,521 225,865 43.4% Total Non-Budgetary Expenditures 15,400,061$ 17,235,579$ 18,196,140$ 8,655,532$ 9,540,608$ 47.6% Total Expenditures - All Funds 191,331,927$ 190,553,993$ 269,360,959$ 97,848,408$ 171,512,551$ 36.3% City of Iowa City Expenditures by Fund Fiscal Year 2018 through December 31, 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$ 65,200$ 48,659$ 57.3% City Clerk 500,977 595,728 605,228 238,027 367,201 39.3% City Attorney 733,337 762,815 762,815 357,187 405,628 46.8% City Manager 2,148,884 4,087,474 4,234,997 1,482,700 2,752,297 35.0% Finance 3,655,228 4,349,981 4,615,557 2,298,025 2,317,532 49.8% Police 13,114,628 13,827,954 13,924,240 6,468,733 7,455,507 46.5% Fire 7,716,864 8,169,242 8,209,242 3,845,215 4,364,027 46.8% Parks & Recreation 7,812,840 8,139,582 8,230,051 3,771,096 4,458,955 45.8% Library 6,269,424 6,526,560 6,561,560 3,054,339 3,507,221 46.5% Senior Center 899,254 949,924 1,010,055 427,645 582,410 42.3% Neighborhood & Development Services 6,074,193 5,788,055 6,877,970 2,260,441 4,617,529 32.9% Public Works 1,757,925 2,384,366 2,384,366 905,161 1,479,205 38.0% Transportation & Resource Management 619,664 861,737 861,737 226,775 634,962 26.3% Total General Fund 51,413,370 56,552,008 58,391,677 25,400,544 32,991,133 43.5% Special Revenue Funds 2100 Community Dev Block Grant Neighborhood & Development Services 1,390,132 568,686 754,724 158,927 595,797 21.1% 2110 HOME Neighborhood & Development Services 192,082 465,444 1,113,122 394,366 718,756 35.4% 2200 Road Use Tax Fund Public Works 5,262,429 6,221,226 6,421,726 2,726,095 3,695,631 42.5% 2300 Other Shared Revenue Neighborhood & Development Services 652,152 - 375,158 278,062 97,096 74.1% 2350 Metro Planning Org of Johnson Co Neighborhood & Development Services 609,907 633,977 633,977 288,562 345,415 45.5% 2400 Employee Benefits Finance 868,301 1,243,475 1,243,475 418,341 825,134 33.6% 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 20,981 32,576 39.2% 26** Tax Increment Financing Finance - 332,365 332,365 - 332,365 0.0% 2820 SSMID-Downtown District Finance 318,343 355,350 355,350 88,682 266,668 25.0% Total Special Revenue Funds 9,852,369 10,524,080 11,933,454 4,699,016 7,234,438 39.4% Debt Service Fund 5*** Debt Service Finance 15,218,289 14,256,417 14,256,417 3,873,973 10,382,444 27.2% Total Debt Service Fund 15,218,289 14,256,417 14,256,417 3,873,973 10,382,444 27.2% City of Iowa City Expenditures by Fund by Department Fiscal Year 2018 through December 31, 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 December 31, 2017 Enterprise Funds 710* Parking Transportation & Resource Management 4,235,036$ 6,941,622$ 6,941,622$ 1,948,224$ 4,993,398$ 28.1% 715* Mass Transit Transportation & Resource Management 6,927,616 7,202,014 12,293,514 3,082,516 9,210,998 25.1% 720* Wastewater Public Works 21,260,750 10,601,444 15,867,503 12,613,352 3,254,151 79.5% 730* Water Public Works 12,372,374 8,465,881 14,240,160 10,844,548 3,395,612 76.2% 7400 Refuse Collection Transportation & Resource Management 3,053,376 3,427,206 3,427,206 1,490,365 1,936,841 43.5% 750* Landfill Transportation & Resource Management 4,973,964 4,902,903 4,987,903 2,350,826 2,637,077 47.1% 7600 Airport Airport Operations 665,802 369,187 369,187 200,977 168,210 54.4% 7700 Storm water Public Works 747,069 518,983 518,983 258,490 260,493 49.8% 79** Housing Authority Neighborhood & Development Services 8,651,207 8,201,363 8,201,363 5,189,644 3,011,719 63.3% Total Enterprise Funds 62,887,194 50,630,603 66,847,441 37,978,943 28,868,498 56.8% Capital Project Funds Governmental Projects 32,902,808 32,530,291 78,905,612 12,551,801 66,353,811 15.9% Enterprise Projects 3,657,836 8,825,015 20,830,218 4,688,598 16,141,620 22.5% Total Capital Project Funds 36,560,644 41,355,306 99,735,830 17,240,400 82,495,430 17.3% Total Budgetary Expenditures 175,931,866$ 173,318,414$ 251,164,819$ 89,192,876$ 161,971,943$ 35.5% 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 2,685,879 2,818,069 48.8% 8200 Risk Management Finance 1,236,127 1,472,081 1,472,081 1,030,207 441,874 70.0% 830* Information Technology Finance 1,624,715 2,217,207 2,217,207 919,162 1,298,045 41.5% 8400 Central Services Finance 201,065 262,163 262,163 71,813 190,350 27.4% 8500 Health Insurance Reserves Finance 7,218,542 8,341,355 8,341,355 3,774,951 4,566,404 45.3% 8600 Dental Insurance Reserves Finance 374,002 399,386 399,386 173,521 225,865 43.4% Total Internal Service Funds 15,338,429 17,235,579 18,196,140 8,655,532 9,540,608 47.6% Total Non-Budgetary Expenditures 15,400,061$ 17,235,579$ 18,196,140$ 8,655,532$ 9,540,608$ 47.6% Total Expenditures - All Funds 191,331,927$ 190,553,993$ 269,360,959$ 97,848,408$ 171,512,551$ 36.3% 9