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FY2018 3rd Qtr Financial Summary Date: April 17, 2018 To: City Manager, City Council From: Jacklyn Budding, Budget & Compliance Officer Re: Quarterly Financial Summary for Period Ending March 31, 2018 Introduction Attached to this memorandum are the City’s quarterly financial reports as of March 31, 2018. The quarterly financial report includes combined summaries of all fund balances, revenues, and expenditures for Fiscal Year 2018 through the end of the third quarter, which is 75% of the way through the fiscal year. The March quarterly report also incorporates the budget amendments that were approved during the Fiscal Year 2019 budget process. Some of the highlights of the City’s financial activity are discussed below. 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 75% of budget since we have completed three-fourths of the fiscal year; however, due to accruals and timing differences, many of these percentages may be above or below 75%. A few examples of revenues that are below the 75% mark include property tax revenue which is at 58.1% of budget and reflects the timing of the property tax receipts. The second half property taxes are due in April and should increase this percentage substantially. Also, on page 6, under Other Financing Sources, Debt Sales revenue is at 0% of budget. We are currently preparing to sell the 2018 general obligation bonds which will bring this revenue source up to 100% of budget. Under Charges for Fees & Services, Building & Development fees are at 189.3% of budget and Police Services is at 259.1% of budget on page 5. Building & Development fees includes construction from last summer and fall and is a good indicator of the amount of construction activity underway. Additionally, an Affordable Housing Fee in Lieu of was received in the amount of approximately $405,000 that was not previously budgeted. Police Services is at 259.1% of budget due to additional hours the University of Iowa has been contracting for during this fiscal year. In addition, under Intergovernmental on page 5, State 28E Agreements are at 115.3% of budget primarily 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. Under Miscellaneous, the Contributions & Donations is at 136.8% of budget due to the receipt of the Data Driven Justice grant. Funds with budget anomalies on page 4 worth noting; the Risk Management fund has actual revenues at 104.6% due to the timing of the entries made for loss reserve payments to intra-city charges, and the CDBG Fund and Home Fund revenues are at 38.6% and 44.2%, respectively. These funds’ revenues are below budget primarily due to the timing of the grant activity. These percentages could change quickly depending on when the Federal funds are received. 1 Finally, the Governmental Projects fund has revenues at only 1.1% of budget due to the timing of the Bond issuance. This fund should come up closer to budget after the bond sale this Spring. As of March 31, the combined total actual revenue for all budgetary funds is $100,821,862 or 59.8% 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 March is similar to the analysis for the City’s revenues. We generally expect the actual expenditure levels to be around 75% of budget at this time of year. Some funds have expenditure activity through the third quarter that differs significantly from the 75% mark. The following funds have a significant expenditure variance above or below 75%: • CDBG Fund and HOME Fund expenditures are at 37.7% and 46.1%, respectively, due to the timing of the payout of loans and grants to applicants. • Debt Service Fund expenditures are at 28.6%, because the general obligation bond principal payments are not due until June 1. • Housing Authority Fund expenditures are at 91.3% of budget primarily due to the payment of landlord rents, which have historically been over budget. • Governmental Projects expenditures are at 23.3% and Enterprise Projects expenditures are at 32.4% because many of the capital projects are scheduled for construction this spring. • Risk Management Fund expenditures are at 97% because of several large claims within General Liability and Worker’s Compensation. Overall, the combined total actual expenditures for all budgetary funds through March are $125,229,584 or 50.8% of budget. The City’s expenditures through the third 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 March. One fund, the Community Development Block Grant (CDBG) Fund, is presented (on page 3) with negative fund balance at -$36,236. This negative fund balance should be reversed following the next receipt of CDBG funds. The other fund balances appear to be near expectations. Additional information is available from the Finance Department upon request. 2 Beginning Ending Restricted,Unassigned Fund Year-to-Date Transfers Year-to-Date Transfers Fund Committed,Fund Balance Revenues In Expenditures Out Balance Assigned Balance Budgetary Funds General Fund 10** General Fund 40,724,250$ 32,019,824$ 7,750,028$ 38,091,722$ 9,293,141$ 33,109,240$ 9,820,322$ 23,288,918$ Special Revenue Funds 2100 Community Dev Block Grant (90,569) 339,030 - 284,697 - (36,236) - (36,236) 2110 HOME 113,005 501,023 - 512,715 4,924 96,389 - 96,389 2200 Road Use Tax Fund 5,714,241 6,038,351 334,945 4,425,445 4,136,114 3,525,979 - 3,525,979 2300 Other Shared Revenue 82,485 243,349 (15,220) 288,363 - 22,251 - 22,251 2350 Metro Planning Org of J.C.256,738 200,577 207,154 435,912 - 228,556 - 228,556 2400 Employee Benefits 2,520,948 6,931,827 - 900,310 7,890,330 662,135 - 662,135 2500 Affordable Housing Fund 468,102 405,135 650,000 325,000 - 1,198,237 - 1,198,237 2510 Peninsula Apartments 143,381 55,081 - 35,592 - 162,871 - 162,871 26** Tax Increment Financing 482,246 1,424,613 25,781 8 - 1,932,632 476,815 1,455,817 2820 SSMID-Downtown District - 194,353 - 188,553 - 5,799 - 5,799 Debt Service Fund 5*** Debt Service 7,232,185 7,558,056 256 3,873,973 - 10,916,525 1,331,975 9,584,549 Enterprise Funds 710* Parking 11,082,223 6,939,997 2,275,205 2,863,091 2,946,688 14,487,646 7,486,999 7,000,647 715* Mass Transit 6,427,042 4,949,056 2,536,707 8,329,950 - 5,582,856 629,877 4,952,979 720* Wastewater 25,193,871 8,947,368 3,103,201 14,172,469 5,264,790 17,807,182 7,884,951 9,922,231 730* Water 18,111,079 6,700,090 1,362,882 12,439,240 2,915,357 10,819,454 3,146,289 7,673,165 7400 Refuse Collection 1,351,518 2,368,071 457 2,276,636 486,141 957,269 - 957,269 750* Landfill 26,735,286 4,876,389 826,200 3,419,826 2,766,056 26,251,994 24,174,828 2,077,166 7600 Airport 308,219 251,903 82,265 316,236 (1,403) 327,555 100,000 227,555 7700 Storm Water 1,031,911 1,092,197 86 375,273 642,568 1,106,354 - 1,106,354 79** Housing Authority 6,756,668 7,249,870 4,924 7,519,081 35,084 6,457,297 3,119,577 3,337,720 Capital Project Funds Governmental Projects 43,433,631 174,705 13,667,384 17,930,988 24,878 39,319,854 - 39,319,854 Enterprise Projects 13,294,586 1,360,996 4,694,400 6,224,505 1,988 13,123,489 - 13,123,489 Total Budgetary Funds 211,373,048$ 100,821,862$ 37,506,655$ 125,229,584$ 36,406,655$ 188,065,327$ 58,171,632$ 129,893,695$ Non-Budgetary Funds Capital Project Funds Internal Service Projects -$ -$ -$ -$ -$ -$ -$ -$ Internal Service Funds 810* Equipment 13,165,375 4,982,662 - 3,787,012 1,100,000 13,261,025 12,047,617 1,213,408 8200 Risk Management 3,803,525 1,674,045 - 1,433,145 - 4,044,424 - 4,044,424 830* Information Technology 2,539,463 1,862,869 - 1,489,474 - 2,912,858 535,514 2,377,344 8400 Central Services 708,450 162,307 - 109,537 - 761,220 - 761,220 8500 Health Insurance Reserves 10,821,196 6,205,122 - 5,626,145 - 11,400,172 4,844,311 6,555,861 8600 Dental Insurance Reserves 147,348 304,495 - 265,343 - 186,500 - 186,500 Total Non-Budgetary Funds 31,185,356$ 15,191,499$ -$ 12,710,656$ 1,100,000$ 32,566,199$ 17,427,442$ 15,138,757$ Total All Funds 242,558,405$ 116,013,361$ 37,506,655$ 137,940,240$ 37,506,655$ 220,631,526$ 75,599,074$ 145,032,452$ City of Iowa City Fund Summary Fiscal Year 2018 through March 31, 2018 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$ 52,540,780$ 32,019,824$ (20,520,956)$ 60.9% Special Revenue Funds 2100 Community Dev Block Grant 1,020,981 693,031 879,069 339,030 (540,039) 38.6% 2110 HOME 305,087 486,444 1,134,122 501,023 (633,099) 44.2% 2200 Road Use Tax Fund 8,803,148 8,393,630 8,393,630 6,038,351 (2,355,279) 71.9% 2300 Other Shared Revenue 577,060 - 348,153 243,349 (104,804) 69.9% 2350 Metro Planning Org of Johnson Co 295,966 306,820 306,820 200,577 (106,243) 65.4% 2400 Employee Benefits 11,145,984 11,496,472 11,496,472 6,931,827 (4,564,645) 60.3% 2500 Affordable Housing Fund 3,926 - - 405,135 405,135 0.0% 2510 Peninsula Apartments 77,516 74,155 74,155 55,081 (19,074) 74.3% 26** Tax Increment Financing 2,230,731 2,333,912 2,454,719 1,424,613 (1,030,106) 58.0% 2820 SSMID-Downtown District 318,343 355,350 355,350 194,353 (160,997) 54.7% Debt Service Fund 5*** Debt Service 14,353,841 13,223,418 13,223,418 7,558,056 (5,665,362) 57.2% Enterprise Funds 710* Parking 5,527,930 5,922,530 8,601,699 6,939,997 (1,661,702) 80.7% 715* Mass Transit 4,812,638 4,193,204 8,040,687 4,949,056 (3,091,631) 61.6% 720* Wastewater 17,883,190 12,589,340 12,589,340 8,947,368 (3,641,972) 71.1% 730* Water 14,934,666 9,268,096 9,268,096 6,700,090 (2,568,006) 72.3% 7400 Refuse Collection 3,159,783 3,411,689 3,411,689 2,368,071 (1,043,618) 69.4% 750* Landfill 7,089,948 6,234,063 6,234,063 4,876,389 (1,357,674) 78.2% 7600 Airport 348,499 359,500 359,500 251,903 (107,597) 70.1% 7700 Storm Water 1,688,423 1,483,550 1,483,550 1,092,197 (391,353) 73.6% 79** Housing Authority 9,103,051 8,769,397 8,769,397 7,249,870 (1,519,527) 82.7% Capital Project Funds Governmental Projects 34,506,605 16,997,084 16,548,987 174,705 (16,374,282) 1.1% Enterprise Projects 4,492,040 3,529,110 2,080,681 1,360,996 (719,685) 65.4% Total Budgetary Revenues 193,830,381$ 161,391,150$ 168,594,377$ 100,821,862$ (67,772,515)$ 59.8% Non-Budgetary Fund Revenues Capital Project Funds Internal Service Projects 174$ -$ -$ -$ 0.0% Internal Service Funds 810* Equipment 6,099,982 6,106,291 6,139,844 4,982,662 (1,157,182) 81.2% 8200 Risk Management 1,625,495 1,600,954 1,600,954 1,674,045 73,091 104.6% 830* Information Technology 2,147,457 2,270,295 2,270,295 1,862,869 (407,426) 82.1% 8400 Central Services 241,819 239,151 205,948 162,307 (43,641) 78.8% 8500 Health Insurance Reserves 8,136,943 8,746,421 8,746,421 6,205,122 (2,541,299) 70.9% 8600 Dental Insurance Reserves 384,243 396,674 396,674 304,495 (92,179) 76.8% Total Non-Budgetary Revenues 18,636,114$ 19,359,786$ 19,360,136$ 15,191,499$ (4,168,637)$ 78.5% Total Revenues - All Funds 212,466,494$ 180,750,936$ 187,954,513$ 116,013,361$ (71,941,152)$ 61.7% City of Iowa City Revenues by Fund Fiscal Year 2018 through March 31, 2018 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$ 32,780,647$ (23,677,752)$ 58.1% Other City Taxes: TIF Revenues 2,226,302 2,333,912 2,454,719 1,418,662 (1,036,057) 57.8% 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 41,936 (23,544) 64.0% Hotel/Motel Taxes 1,136,712 1,078,760 1,136,260 596,313 (539,947) 52.5% Utility Franchise Tax 939,387 895,000 895,000 493,800 (401,200) 55.2% Subtotal 5,094,011 5,054,301 5,232,608 2,893,035 (2,339,573) 55.3% Licenses, Permits, & Fees: General Use Permits 104,296 82,510 82,510 51,276 (31,235) 62.1% Food & Liquor Licenses 111,438 92,740 92,740 80,122 (12,618) 86.4% Professional License 12,015 18,710 18,710 5,735 (12,975) 30.7% Franchise Fees 685,659 692,140 692,140 347,437 (344,703) 50.2% Construction Permits & Insp Fees 2,578,024 1,639,240 1,639,240 1,458,546 (180,694) 89.0% Misc Lic & Permits 39,951 36,320 36,320 31,943 (4,377) 87.9% Subtotal 3,531,383 2,561,660 2,561,660 1,975,058 (586,602) 77.1% Intergovernmental: Fed Intergovernment Revenue 12,147,485 14,280,110 15,692,449 7,837,830 (7,854,619) 49.9% 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 5,967,272 (2,352,848) 71.7% 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 6,701,770 4,492,993 (2,208,777) 67.0% Local 28E Agreements 1,418,467 1,005,860 1,005,860 962,278 (43,582) 95.7% Subtotal 38,998,911 29,274,910 35,128,320 22,172,033 (12,956,287) 63.1% Charges For Fees And Services: Building & Development 969,936 445,620 425,620 805,554 379,934 189.3% Police Services 143,562 37,237 37,237 96,494 59,257 259.1% Animal Care Services 11,545 10,400 10,400 8,065 (2,335) 77.5% Fire Services 10,370 8,660 8,660 6,852 (1,809) 79.1% Transit Fees 1,260,923 1,299,190 1,299,190 852,326 (446,864) 65.6% Culture & Recreation 780,147 820,454 820,454 455,407 (365,047) 55.5% Misc Charges For Services 72,138 68,628 68,628 50,270 (18,358) 73.3% Water Charges 9,279,458 9,102,056 9,102,056 6,568,390 (2,533,666) 72.2% Wastewater Charges 12,276,259 12,214,720 12,214,720 8,698,366 (3,516,354) 71.2% Refuse Charges 3,588,837 3,772,349 3,772,349 2,719,010 (1,053,339) 72.1% Landfill Charges 6,273,574 5,686,860 5,686,860 4,283,664 (1,403,196) 75.3% Storm Water Charges 1,522,294 1,477,710 1,477,710 1,070,686 (407,024) 72.5% Parking Charges 5,910,725 6,319,394 6,319,394 4,839,666 (1,479,728) 76.6% Subtotal 42,099,767 41,263,278 41,243,278 30,454,749 (10,788,529) 73.8% Miscellaneous: Code Enforcement 238,295 253,180 253,180 158,193 (94,987) 62.5% Parking Fines 578,713 549,580 549,580 339,037 (210,543) 61.7% Library Fines & Fees 154,425 155,520 155,520 107,206 (48,314) 68.9% Contributions & Donations 705,917 377,972 422,972 578,821 155,849 136.8% Printed Materials 43,411 48,400 48,400 32,217 (16,183) 66.6% Animal Adoption 12,015 14,190 14,190 10,610 (3,580) 74.8% Misc Merchandise 55,052 54,930 54,930 46,144 (8,786) 84.0% Intra-City Charges 3,795,296 4,226,884 4,226,884 2,901,770 (1,325,114) 68.7% Other Misc Revenue 2,118,650 779,349 956,349 601,984 (354,365) 62.9% Special Assessments 1,087 1,000 1,000 367 (633) 36.7% Subtotal 7,702,861$ 6,461,005$ 6,683,005$ 4,776,349$ (1,906,656)$ 71.5% City of Iowa City Revenues by Type Fiscal Year 2018 through March 31, 2018 5 2017 Actual 2018 Budget 2018 Revised 2018 Actual Variance Percent City of Iowa City Revenues by Type Fiscal Year 2018 through March 31, 2018 Use Of Money And Property: Interest Revenues 1,551,921$ 1,022,383$ 1,022,763$ 938,561$ (84,202)$ 91.8% Rents 1,370,376 1,307,630 1,317,630 985,886 (331,744) 74.8% Royalties & Commissions 140,491 94,950 98,950 77,139 (21,811) 78.0% Subtotal 3,062,788 2,424,963 2,439,343 2,001,585 (437,758) 82.1% Other Financial Sources: Debt Sales 33,795,498 14,671,084 11,753,500 - (11,753,500) 0.0% Sale Of Assets 3,081,294 1,956,508 5,829,222 2,999,067 (2,830,155) 51.4% Loans 1,106,510 1,265,042 1,265,042 769,340 (495,702) 60.8% Subtotal 37,983,302 17,892,634 18,847,764 3,768,406 (15,079,358) 20.0% Total Budgetary Revenues 193,830,381$ 161,391,150$ 168,594,377$ 100,821,862$ (67,772,515) 59.8% Non-Budgetary Fund Revenues Capital Project Funds 174$ -$ -$ -$ -$ 0.0% Internal Service Funds 18,635,940 19,359,786 19,360,136 15,191,499 (4,168,637) 78.5% Total Non-Budgetary Revenues 18,636,114$ 19,359,786$ 19,360,136$ 15,191,499$ (4,168,637)$ 78.5% Total Revenues - All Funds 212,466,494$ 180,750,936$ 187,954,513$ 116,013,361$ (71,941,152)$ 61.7% 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$ 57,894,311$ 38,091,722$ 19,802,589$ 65.8% Special Revenue Funds 2100 Community Dev Block Grant 1,390,132 568,686 754,724 284,697 470,027 37.7% 2110 HOME 192,082 465,444 1,113,122 512,715 600,407 46.1% 2200 Road Use Tax Fund 5,262,429 6,221,226 6,487,226 4,425,445 2,061,781 68.2% 2300 Other Shared Revenue 652,152 - 375,158 288,363 86,795 76.9% 2350 Metro Planning Org of Johnson Co.609,907 633,977 633,977 435,912 198,065 68.8% 2400 Employee Benefits 868,301 1,243,475 1,243,475 900,310 343,165 72.4% 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 35,592 17,965 66.5% 26** Tax Increment Financing - 332,365 332,373 8 332,365 0.0% 2820 SSMID-Downtown District 318,343 355,350 355,350 188,553 166,797 53.1% Debt Service Fund 5*** Debt Service 15,218,289 14,256,417 13,564,492 3,873,973 9,690,519 28.6% Enterprise Funds 720* Wastewater 21,260,750 10,601,444 15,867,503 14,172,469 1,695,034 89.3% 730* Water 12,372,374 8,465,881 14,290,160 12,439,240 1,850,920 87.0% 7400 Refuse Collection 3,053,376 3,427,206 3,427,206 2,276,636 1,150,571 66.4% 750* Landfill 4,973,964 4,902,903 5,053,302 3,419,826 1,633,476 67.7% 7600 Airport 665,802 369,187 399,387 316,236 83,151 79.2% 7700 Storm Water 747,069 518,983 518,983 375,273 143,710 72.3% 79** Housing Authority 8,651,207 8,201,363 8,231,390 7,519,081 712,309 91.3% Capital Project Funds Governmental Projects 32,902,808 32,530,291 77,077,677 17,930,988 59,146,689 23.3% Enterprise Projects 3,657,836 8,825,015 19,187,686 6,224,505 12,963,181 32.4% Total Budgetary Expenditures 175,931,866$ 173,318,414$ 246,613,898$ 125,229,584$ 121,384,314$ 50.8% 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 5,537,501 3,787,012 1,750,489 68.4% 8200 Risk Management 1,236,127 1,472,081 1,472,081 1,433,145 38,936 97.4% 830* Information Technology 1,624,715 2,217,207 2,217,207 1,489,474 727,733 67.2% 8400 Central Services 201,065 262,163 228,960 109,537 119,423 47.8% 8500 Health Insurance Reserves 7,218,542 8,341,355 8,341,355 5,626,145 2,715,210 67.4% 8600 Dental Insurance Reserves 374,002 399,386 399,386 265,343 134,043 66.4% Total Non-Budgetary Expenditures 15,400,061$ 17,235,579$ 18,196,490$ 12,710,656$ 5,485,834$ 69.9% Total Expenditures - All Funds 191,331,927$ 190,553,993$ 264,810,388$ 137,940,240$ 126,870,148$ 52.1% City of Iowa City Expenditures by Fund Fiscal Year 2018 through March 31, 2018 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$ 82,895$ 30,964$ 72.8% City Clerk 500,977 595,728 617,503 363,555 253,948 58.9% City Attorney 733,337 762,815 762,815 559,188 203,627 73.3% City Manager 2,148,884 4,087,474 3,738,272 2,254,177 1,484,095 60.3% Finance 3,655,228 4,349,981 4,604,557 2,992,870 1,611,687 65.0% Police 13,114,628 13,827,954 13,827,024 10,048,164 3,778,860 72.7% Fire 7,716,864 8,169,242 8,209,242 5,867,063 2,342,179 71.5% Parks & Recreation 7,812,840 8,139,582 8,305,351 5,557,298 2,748,053 66.9% Library 6,269,424 6,526,560 6,561,560 4,634,744 1,926,816 70.6% Senior Center 899,254 949,924 1,010,055 654,969 355,086 64.8% Neighborhood & Development Services 6,074,193 5,788,055 6,888,970 3,350,984 3,537,986 48.6% Public Works 1,757,925 2,384,366 2,393,366 1,388,387 1,004,979 58.0% Transportation & Resource Management 619,664 861,737 861,737 337,428 524,309 39.2% Total General Fund 51,413,370 56,552,008 57,894,311 38,091,722 19,802,589 65.8% Special Revenue Funds 2100 Community Dev Block Grant Neighborhood & Development Services 1,390,132 568,686 754,724 284,697 470,027 37.7% 2110 HOME Neighborhood & Development Services 192,082 465,444 1,113,122 512,715 600,407 46.1% 2200 Road Use Tax Fund Public Works 5,262,429 6,221,226 6,487,226 4,425,445 2,061,781 68.2% 2300 Other Shared Revenue Neighborhood & Development Services 652,152 - 375,158 288,363 86,795 76.9% 2350 Metro Planning Org of Johnson Co Neighborhood & Development Services 609,907 633,977 633,977 435,912 198,065 68.8% 2400 Employee Benefits Finance 868,301 1,243,475 1,243,475 900,310 343,165 72.4% 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 35,592 17,965 66.5% 26** Tax Increment Financing Finance - 332,365 332,373 8 332,365 0.0% 2820 SSMID-Downtown District Finance 318,343 355,350 355,350 188,553 166,797 53.1% Total Special Revenue Funds 9,852,369 10,524,080 11,998,962 7,396,595 4,602,367 61.6% Debt Service Fund 5*** Debt Service Finance 15,218,289 14,256,417 13,564,492 3,873,973 9,690,519 28.6% Total Debt Service Fund 15,218,289 14,256,417 13,564,492 3,873,973 9,690,519 28.6% City of Iowa City Expenditures by Fund by Department Fiscal Year 2018 through March 31, 2018 8 2017 Actual 2018 Budget 2018 Revised 2018 Actual Variance Percent City of Iowa City Expenditures by Fund by Department Fiscal Year 2018 through March 31, 2018 Enterprise Funds 710* Parking Transportation & Resource Management 4,235,036$ 6,941,622$ 7,040,622$ 2,863,091$ 4,177,531$ 40.7% 715* Mass Transit Transportation & Resource Management 6,927,616 7,202,014 12,062,217 8,329,950 3,732,267 69.1% 720* Wastewater Public Works 21,260,750 10,601,444 15,867,503 14,172,469 1,695,034 89.3% 730* Water Public Works 12,372,374 8,465,881 14,290,160 12,439,240 1,850,920 87.0% 7400 Refuse Collection Transportation & Resource Management 3,053,376 3,427,206 3,427,206 2,276,636 1,150,571 66.4% 750* Landfill Transportation & Resource Management 4,973,964 4,902,903 5,053,302 3,419,826 1,633,476 67.7% 7600 Airport Airport Operations 665,802 369,187 399,387 316,236 83,151 79.2% 7700 Storm Water Public Works 747,069 518,983 518,983 375,273 143,710 72.3% 79** Housing Authority Neighborhood & Development Services 8,651,207 8,201,363 8,231,390 7,519,081 712,309 91.3% Total Enterprise Funds 62,887,194 50,630,603 66,890,770 51,711,801 15,178,969 77.3% Capital Project Funds Governmental Projects 32,902,808 32,530,291 77,077,677 17,930,988 59,146,689 23.3% Enterprise Projects 3,657,836 8,825,015 19,187,686 6,224,505 12,963,181 32.4% Total Capital Project Funds 36,560,644 41,355,306 96,265,363 24,155,493 72,109,870 25.1% Total Budgetary Expenditures 175,931,866$ 173,318,414$ 246,613,898$ 125,229,584$ 121,384,314$ 50.8% 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 5,537,501 3,787,012 1,750,489 68.4% 8200 Risk Management Finance 1,236,127 1,472,081 1,472,081 1,433,145 38,936 97.4% 830* Information Technology Finance 1,624,715 2,217,207 2,217,207 1,489,474 727,733 67.2% 8400 Central Services Finance 201,065 262,163 228,960 109,537 119,423 47.8% 8500 Health Insurance Reserves Finance 7,218,542 8,341,355 8,341,355 5,626,145 2,715,210 67.4% 8600 Dental Insurance Reserves Finance 374,002 399,386 399,386 265,343 134,043 66.4% Total Internal Service Funds 15,338,429 17,235,579 18,196,490 12,710,656 5,485,834 69.9% Total Non-Budgetary Expenditures 15,400,061$ 17,235,579$ 18,196,490$ 12,710,656$ 5,485,834$ 69.9% Total Expenditures - All Funds 191,331,927$ 190,553,993$ 264,810,388$ 137,940,240$ 126,870,148$ 52.1% 9