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FY2019 3rd Qtr Financial Summary Date: April 10, 2019 To: City Manager, City Council From: Jacklyn Fleagle, Budget & Compliance Officer Re: Quarterly Financial Summary for Period Ending March 31, 2019 Introduction Attached to this memorandum are the City’s quarterly financial reports as of March 31, 2019. The quarterly financial report includes combined summaries of all fund balances, revenues, and expenditures for Fiscal Year 2019 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 2020 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%. Funds with budget anomalies on page 4 worth noting; the Risk Management fund has actual revenues at 100.6% due to the timing of the entries made for loss reserve payments to intra-city charges The CDBG Fund and Home Fund revenues are at 35.6% and 47.4%, 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. The Transit fund has actual revenues at 47.7% due to the timing of receipt for the federal operating grant. Finally, the Governmental Projects fund has revenues at only 3.8% of budget due to the timing of the Bond issuance. This fund should come up closer to budget after the bond sale this spring. On page 5, a few examples of revenues that are below the 75% mark include property tax revenue which is at 57.3% 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. Other revenues affected by the timing of property tax receipts include TIF Revenues which are at 54.3% and Property Tax Credits which are at 45.3% of budget. Under Charges for Fees & Services, Building & Development fees are at 113.4% of budget and Police Services is at 215.3% 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. Police Services is at 215.3% 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 116.1% of budget primarily due to the timing of the receipt of the Fire Contract with the University of Iowa. Other State Grants are at 16.6% of budget due to the timing of receipts of grants for major road projects. Local 28E Agreements are at 19.5% of budget primarily due to the $4,000,000 budgeted from other local governments for the County Behavioral Access Center. 1 Finally, on page 6, under Other Financing Sources, Debt Sales revenue is at 0% of budget. We are currently preparing to sell the 2019 general obligation bonds which will bring this revenue source up to 100% of budget. As of March 31, the combined total actual revenue for all budgetary funds is $100,363,933 or 55.5% 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 2019 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 43.0% and 52.6%, respectively, due to the timing of the payout of loans and grants to applicants. •Debt Service Fund expenditures are at 33.7%, because the general obligation bond principal payments are not due until June 1. •The Airport Fund expenditures are at 87.5% of budget due to an increase in liability insurance and furniture purchases. •Governmental Projects expenditures are at 28.5% and Enterprise Projects expenditures are at 24.2% because many of the capital projects are scheduled for construction this spring. Overall, the combined total actual expenditures for all budgetary funds through March are $121,164,910 or 50.3% 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 -$77,027. This negative fund balance should be reversed following the next receipt of CDBG funds. The other fund balances appear to be near expectations. Additional information is available from the Finance Department upon request. 2 Beginning Ending Restricted, Unassigned Fund Year-to-Date Transfers Year-to-Date Transfers Fund Committed, Fund Balance Revenues In Expenditures Out Balance Assigned Balance Budgetary Funds General Fund 10** General Fund 36,401,765$ 34,963,712$ 8,019,698$ 40,537,492$ 4,356,049$ 34,491,634$ 6,867,798$ 27,623,837$ Special Revenue Funds 2100 Community Dev Block Grant (25,935) 433,592 2,700 391,037 96,348 (77,027) - (77,027) 2110 HOME 191,819 479,783 - 538,386 83,795 49,420 - 49,420 2200 Road Use Tax Fund 3,893,384 6,336,074 338,660 4,835,109 2,578,505 3,154,503 - 3,154,503 2300 Other Shared Revenue 3,968 3,279 - 4,773 - 2,474 - 2,474 2350 Metro Planning Org of J.C. 262,063 231,401 249,771 444,317 - 298,918 - 298,918 2400 Employee Benefits 2,847,078 7,463,463 - 659,094 8,208,182 1,443,266 - 1,443,266 2500 Affordable Housing Fund 1,208,851 411,707 - 830,000 - 790,558 - 790,558 2510 Peninsula Apartments 166,019 51,751 - 35,201 - 182,569 - 182,569 26** Tax Increment Financing 1,525,592 1,440,457 144,426 96,644 - 3,013,832 898,253 2,115,579 2820 SSMID-Downtown District - 212,642 - 204,699 - 7,943 - 7,943 Debt Service Fund 5*** Debt Service 8,135,315 7,292,688 - 4,655,678 - 10,772,325 1,357,180 9,415,144 Enterprise Funds 710* Parking 12,222,373 4,609,809 825,616 2,766,746 1,374,359 13,516,693 6,087,645 7,429,048 715* Mass Transit 6,159,101 2,157,201 2,683,600 5,138,647 235,099 5,626,156 777,476 4,848,680 720* Wastewater 20,759,108 9,048,339 2,198,714 11,106,146 3,855,961 17,044,054 5,512,693 11,531,362 730* Water 11,938,239 6,981,839 1,370,065 6,399,741 2,506,694 11,383,707 3,177,571 8,206,136 7400 Refuse Collection 1,281,369 2,540,057 4,656 2,480,829 - 1,345,254 - 1,345,254 750* Landfill 26,940,545 4,799,110 1,240,402 4,547,152 1,776,666 26,656,239 24,233,039 2,423,200 7600 Airport 216,770 256,023 75,000 312,550 43,264 191,979 100,000 91,979 7700 Storm Water 795,950 1,087,069 878 318,439 949,000 616,458 - 616,458 79** Housing Authority 7,017,559 7,594,114 83,795 8,086,299 35,962 6,573,207 3,222,767 3,350,440 Capital Project Funds Governmental Projects 41,854,944 1,022,815 6,098,629 23,125,561 - 25,850,827 - 25,850,827 Enterprise Projects 9,623,259 947,006 3,166,214 3,650,370 - 10,086,110 - 10,086,110 Total Budgetary Funds 193,419,135$ 100,363,933$ 26,502,824$ 121,164,910$ 26,099,883$ 173,021,100$ 52,234,421$ 120,786,678$ Non-Budgetary Funds Internal Service Funds 810* Equipment 13,604,405$ 5,311,124$ -$ 4,019,254$ 123,200$ 14,773,075$ 13,264,227$ 1,508,848$ 8200 Risk Management 3,563,234 1,605,960 - 1,096,500 - 4,072,695 - 4,072,695 830* Information Technology 2,799,530 1,988,892 - 1,359,911 179,741 3,248,770 370,613 2,878,158 8400 Central Services 725,692 180,135 - 121,164 100,000 684,663 - 684,663 8500 Health Insurance Reserves 11,374,744 6,537,624 - 6,827,123 - 11,085,245 7,589,740 3,495,505 8600 Dental Insurance Reserves 190,915 307,086 - 239,338 - 258,663 - 258,663 Total Non-Budgetary Funds 32,258,521$ 15,930,821$ -$ 13,663,290$ 402,941$ 34,123,111$ 21,224,580$ 12,898,531$ Total All Funds 225,677,656$ 116,294,754$ 26,502,824$ 134,828,200$ 26,502,824$ 207,144,210$ 73,459,001$ 133,685,209$ City of Iowa City Fund Summary Fiscal Year 2019 through March 31, 2019 3 2018 Actual 2019 Budget 2019 Revised 2019 Actual Variance Percent Budgetary Fund Revenues General Fund 10** General Fund 51,880,377$ 53,148,922$ 55,053,255$ 34,963,712$ (20,089,544)$ 63.5% Special Revenue Funds 2100 Community Dev Block Grant 658,178 906,507 1,218,413 433,592 (784,821) 35.6% 2110 HOME 666,926 534,166 1,012,382 479,783 (532,599) 47.4% 2200 Road Use Tax Fund 8,539,943 8,744,810 8,744,810 6,336,074 (2,408,736) 72.5% 2300 Other Shared Revenue 270,089 - 48,260 3,279 (44,981) 6.8% 2350 Metro Planning Org of Johnson Co 320,459 365,748 365,748 231,401 (134,347) 63.3% 2400 Employee Benefits 11,668,231 12,908,880 12,908,880 7,463,463 (5,445,417) 57.8% 2500 Affordable Housing Fund 415,749 - 404,360 411,707 7,347 101.8% 2510 Peninsula Apartments 73,278 77,510 77,510 51,751 (25,759) 66.8% 26** Tax Increment Financing 2,473,728 2,631,772 2,631,772 1,440,457 (1,191,315) 54.7% 2820 SSMID-Downtown District 354,385 400,124 400,124 212,642 (187,482) 53.1% Debt Service Fund 5*** Debt Service 13,288,394 12,611,282 12,611,282 7,292,688 (5,318,594) 57.8% Enterprise Funds 710* Parking 8,486,558 6,003,966 6,003,966 4,609,809 (1,394,157) 76.8% 715* Mass Transit 8,276,309 4,524,070 4,524,070 2,157,201 (2,366,869) 47.7% 720* Wastewater 13,115,285 12,636,588 12,636,588 9,048,339 (3,588,249) 71.6% 730* Water 9,827,060 9,856,522 9,856,522 6,981,839 (2,874,683) 70.8% 7400 Refuse Collection 3,521,446 3,490,210 3,490,210 2,540,057 (950,153) 72.8% 750* Landfill 7,028,785 6,929,796 7,019,796 4,799,110 (2,220,686) 68.4% 7600 Airport 385,582 361,500 361,500 256,023 (105,477) 70.8% 7700 Storm Water 1,589,311 1,529,350 1,529,350 1,087,069 (442,281) 71.1% 79** Housing Authority 9,620,510 8,921,473 9,511,135 7,594,114 (1,917,021) 79.8% Capital Project Funds Governmental Projects 12,981,814 14,023,000 26,801,555 1,022,815 (25,778,740) 3.8% Enterprise Projects 1,919,909 3,056,708 3,620,817 947,006 (2,673,811) 26.2% Total Budgetary Revenues 167,362,305$ 163,662,904$ 180,832,305$ 100,363,933$ (80,468,372)$ 55.5% Non-Budgetary Fund Revenues Internal Service Funds 810* Equipment 6,910,467$ 6,559,773$ 6,619,773$ 5,311,124$ (1,308,649)$ 80.2% 8200 Risk Management 1,707,274 1,596,490 1,596,490 1,605,960 9,470 100.6% 830* Information Technology 2,294,690 2,348,876 2,348,876 1,988,892 (359,984) 84.7% 8400 Central Services 228,890 213,912 213,912 180,135 (33,777) 84.2% 8500 Health Insurance Reserves 8,401,738 8,700,966 8,700,966 6,537,624 (2,163,342) 75.1% 8600 Dental Insurance Reserves 407,695 424,330 424,330 307,086 (117,244) 72.4% Total Non-Budgetary Revenues 19,950,754$ 19,844,347$ 19,904,347$ 15,930,821$ (3,973,526)$ 80.0% Total Revenues - All Funds 187,313,059$ 183,507,251$ 200,736,652$ 116,294,754$ (84,441,898)$ 57.9% City of Iowa City Revenues by Fund Fiscal Year 2019 through March 31, 2019 4 2018 Actual 2019 Budget 2019 Revised 2019 Actual Variance Percent Budgetary Fund Revenues Property Taxes 56,525,799$ 59,173,825$ 59,173,825$ 33,889,408$ (25,284,417)$ 57.3% Other City Taxes: TIF Revenues 2,459,216 2,621,772 2,621,772 1,423,654 (1,198,118) 54.3% Gas/Electric Excise Taxes 684,299 676,411 676,411 334,015 (342,396) 49.4% Mobile Home Taxes 61,182 65,150 65,150 40,339 (24,811) 61.9% Hotel/Motel Taxes 1,045,696 1,251,720 1,251,720 691,413 (560,307) 55.2% Utility Franchise Tax 976,060 939,400 939,400 507,605 (431,795) 54.0% Subtotal 5,226,452 5,554,453 5,554,453 2,997,026 (2,557,427) 54.0% Licenses, Permits, & Fees: General Use Permits 71,654 100,920 100,920 43,766 (57,155) 43.4% Food & Liquor Licenses 110,377 111,440 111,440 86,478 (24,962) 77.6% Professional License 7,605 12,020 12,020 4,725 (7,295) 39.3% Franchise Fees 662,448 512,750 512,750 296,405 (216,345) 57.8% Construction Permits & Insp Fees 1,850,539 1,777,650 1,777,650 1,481,696 (295,954) 83.4% Misc Lic & Permits 40,881 38,680 38,680 42,217 3,537 109.1% Subtotal 2,743,504 2,553,460 2,553,460 1,955,287 (598,173) 76.6% Intergovernmental: Fed Intergovernment Revenue 13,152,242 11,664,896 15,373,782 8,210,912 (7,162,870) 53.4% Property Tax Credits 1,554,683 1,727,320 1,727,320 783,198 (944,122) 45.3% Road Use Tax 8,426,502 8,672,280 8,672,280 6,221,888 (2,450,392) 71.7% State 28E Agreements 2,003,939 1,724,430 1,774,430 2,060,750 286,320 116.1% Operating Grants 73,825 82,690 82,690 69,584 (13,106) 84.2% Disaster Assistance 110,085 - - - - 0.0% Other State Grants 5,483,837 3,094,020 9,131,736 1,518,909 (7,612,827) 16.6% Local 28E Agreements 1,151,557 5,182,453 5,182,453 1,010,919 (4,171,534) 19.5% Subtotal 31,956,672 32,148,089 41,944,691 19,876,160 (22,068,531) 47.4% Charges For Fees And Services: Building & Development 908,376 411,120 888,930 1,007,791 118,861 113.4% Police Services 127,496 56,530 56,530 121,708 65,178 215.3% Animal Care Services 10,775 11,540 11,540 9,754 (1,787) 84.5% Fire Services 7,632 10,370 10,370 7,080 (3,290) 68.3% Transit Fees 1,226,643 1,261,820 1,261,820 850,429 (411,391) 67.4% Culture & Recreation 774,778 790,848 790,848 439,640 (351,208) 55.6% Misc Charges For Services 69,449 79,217 79,217 52,654 (26,563) 66.5% Water Charges 9,475,186 9,743,172 9,743,172 6,748,714 (2,994,458) 69.3% Wastewater Charges 12,621,036 12,276,650 12,276,650 8,849,185 (3,427,465) 72.1% Refuse Charges 4,010,218 3,909,630 3,909,630 2,782,350 (1,127,280) 71.2% Landfill Charges 5,933,293 6,168,980 6,168,980 4,080,233 (2,088,747) 66.1% Storm Water Charges 1,551,384 1,522,290 1,522,290 1,079,492 (442,798) 70.9% Parking Charges 6,331,040 6,477,470 6,477,470 5,045,084 (1,432,386) 77.9% Subtotal 43,047,304 42,719,637 43,197,447 31,074,112 (12,123,335) 71.9% Miscellaneous: Code Enforcement 232,315 222,633 222,633 171,334 (51,299) 77.0% Parking Fines 475,356 578,720 578,720 419,343 (159,377) 72.5% Library Fines & Fees 143,285 154,420 154,420 102,149 (52,271) 66.2% Contributions & Donations 890,423 369,620 768,950 295,119 (473,831) 38.4% Printed Materials 42,374 41,900 41,900 40,389 (1,511) 96.4% Animal Adoption 12,955 12,020 12,020 35,940 23,920 299.0% Misc Merchandise 55,901 54,770 54,770 49,256 (5,514) 89.9% Intra-City Charges 3,962,198 4,277,635 4,277,635 3,229,225 (1,048,410) 75.5% Other Misc Revenue 908,993 933,261 1,168,897 469,868 (699,029) 40.2% Special Assessments 808 1,090 1,090 48 (1,042) 4.4% Subtotal 6,724,608$ 6,646,069$ 7,281,035$ 4,812,671$ (2,468,364)$ 66.1% City of Iowa City Revenues by Type Fiscal Year 2019 through March 31, 2019 5 2018 Actual 2019 Budget 2019 Revised 2019 Actual Variance Percent City of Iowa City Revenues by Type Fiscal Year 2019 through March 31, 2019 Use Of Money And Property: Interest Revenues 2,879,005$ 1,071,871$ 1,071,872$ 1,822,108$ 750,236$ 170.0% Rents 1,385,468 1,367,800 1,367,800 960,262 (407,538) 70.2% Royalties & Commissions 108,843 136,080 136,080 70,691 (65,389) 51.9% Subtotal 4,373,315 2,575,751 2,575,752 2,853,061 277,309 110.8% Other Financial Sources: Debt Sales 12,174,462 10,623,000 14,162,000 - (14,162,000) 0.0% Sale Of Assets 3,633,506 703,393 2,920,018 1,339,752 (1,580,266) 45.9% Insurance Recoveries - - 316,898 279,874 (37,024) 0.0% Loans 956,682 965,226 1,152,726 1,286,582 133,856 111.6% Subtotal 16,764,651 12,291,619 18,551,642 2,906,207 (15,645,435) 15.7% Total Budgetary Revenues 167,362,305$ 163,662,903$ 180,832,305$ 100,363,933$ (80,468,372) 55.5% Non-Budgetary Fund Revenues Internal Service Funds 19,950,754$ 19,844,347$ 19,904,347$ 15,930,821$ (3,973,526)$ 80.0% Total Non-Budgetary Revenues 19,950,754$ 19,844,347$ 19,904,347$ 15,930,821$ (3,973,526)$ 80.0% Total Revenues - All Funds 187,313,059$ 183,507,250$ 200,736,652$ 116,294,754$ (84,441,898)$ 57.9% 6 2018 Actual 2019 Budget 2019 Revised 2019 Actual Variance Percent Budgetary Fund Expenditures General Fund 10** General Fund 52,714,597$ 58,159,421$ 60,388,797$ 40,537,492$ 19,851,305$ 67.1% Special Revenue Funds 2100 Community Dev Block Grant 592,163 596,507 908,413 391,037 517,376 43.0% 2110 HOME 558,825 546,166 1,024,382 538,386 485,996 52.6% 2200 Road Use Tax Fund 6,059,424 6,165,809 6,432,985 4,835,109 1,597,876 75.2% 2300 Other Shared Revenue 333,421 - 48,260 4,773 43,487 9.9% 2350 Metro Planning Org of Johnson Co. 591,338 708,554 708,554 444,317 264,237 62.7% 2400 Employee Benefits 967,457 1,283,417 1,283,417 659,094 624,323 51.4% 2500 Affordable Housing Fund 325,000 750,000 1,000,000 830,000 170,000 83.0% 2510 Peninsula Apartments 50,641 59,878 61,118 35,201 25,917 57.6% 26** Tax Increment Financing 392,130 505,193 620,193 96,644 523,549 15.6% 2820 SSMID-Downtown District 354,385 400,124 400,124 204,699 195,425 51.2% Debt Service Fund 5*** Debt Service 13,469,600 13,722,450 13,806,387 4,655,678 9,150,709 33.7% Enterprise Funds 720* Wastewater 15,738,755 13,284,732 13,284,732 11,106,146 2,178,586 83.6% 730* Water 14,382,141 8,388,774 8,440,774 6,399,741 2,041,033 75.8% 7400 Refuse Collection 3,106,776 3,433,507 3,498,007 2,480,829 1,017,178 70.9% 750* Landfill 4,940,648 5,035,196 6,078,392 4,547,152 1,531,240 74.8% 7600 Airport 468,122 357,309 357,309 312,550 44,759 87.5% 7700 Storm Water 497,954 537,865 537,865 318,439 219,426 59.2% 79** Housing Authority 9,342,128 10,952,156 11,429,619 8,086,299 3,343,320 70.7% Capital Project Funds Governmental Projects 32,499,396 23,580,970 81,247,520 23,125,561 58,121,959 28.5% Enterprise Projects 9,353,681 5,040,308 15,088,368 3,650,370 11,437,998 24.2% Total Budgetary Expenditures 185,175,387$ 167,570,307$ 240,741,756$ 121,164,910$ 119,576,846$ 50.3% Non-Budgetary Funds Expenditures Internal Service Funds 810* Equipment 5,041,436$ 4,468,094$ 6,263,801$ 4,019,254$ 2,244,547$ 64.2% 8200 Risk Management 1,947,564 1,440,328 1,440,328 1,096,500 343,828 76.1% 830* Information Technology 2,034,623 2,160,935 2,160,935 1,359,911 801,024 62.9% 8400 Central Services 188,468 193,387 193,387 121,164 72,223 62.7% 8500 Health Insurance Reserves 7,848,190 8,381,923 8,381,923 6,827,123 1,554,800 81.5% 8600 Dental Insurance Reserves 364,128 409,442 409,442 239,338 170,104 58.5% Total Non-Budgetary Expenditures 17,424,410$ 17,054,109$ 18,849,816$ 13,663,290$ 5,186,526$ 72.5% Total Expenditures - All Funds 202,599,797$ 184,624,416$ 259,591,572$ 134,828,200$ 124,763,372$ 51.9% City of Iowa City Expenditures by Fund Fiscal Year 2019 through March 31, 2019 7 2018 Actual 2019 Budget 2019 Revised 2019 Actual Variance Percent Budgetary Funds Expenditures General Fund 10** General Fund City Council 109,461$ 120,391$ 120,391$ 87,672$ 32,719$ 72.8% City Clerk 491,517 533,577 570,242 404,115 166,127 70.9% City Attorney 765,417 780,796 780,796 559,383 221,413 71.6% City Manager 3,056,803 4,248,266 4,378,266 2,730,343 1,647,923 62.4% Finance 3,805,542 4,345,045 4,840,145 3,149,134 1,691,011 65.1% Police 13,809,546 14,419,896 14,846,648 10,327,869 4,518,779 69.6% Fire 8,030,716 8,262,751 8,278,849 6,105,054 2,173,795 73.7% Parks & Recreation 7,993,287 8,826,119 8,891,119 5,733,005 3,158,114 64.5% Library 6,400,495 6,671,933 6,677,933 4,659,602 2,018,331 69.8% Senior Center 888,544 974,355 986,855 607,247 379,608 61.5% Neighborhood & Development Services 4,965,448 5,824,548 6,865,809 4,207,446 2,658,363 61.3% Public Works 1,909,621 2,554,182 2,554,182 1,527,655 1,026,527 59.8% Transportation & Resource Management 488,203 597,562 597,562 438,966 158,596 73.5% Total General Fund 52,714,597 58,159,421 60,388,797 40,537,492 19,851,305 67.1% Special Revenue Funds 2100 Community Dev Block Grant Neighborhood & Development Services 592,163 596,507 908,413 391,037 517,376 43.0% 2110 HOME Neighborhood & Development Services 558,825 546,166 1,024,382 538,386 485,996 52.6% 2200 Road Use Tax Fund Public Works 6,059,424 6,165,809 6,432,985 4,835,109 1,597,876 75.2% 2300 Other Shared Revenue Neighborhood & Development Services 333,421 - 48,260 4,773 43,487 9.9% 2350 Metro Planning Org of Johnson Co Neighborhood & Development Services 591,338 708,554 708,554 444,317 264,237 62.7% 2400 Employee Benefits Finance 967,457 1,283,417 1,283,417 659,094 624,323 51.4% 2500 Affordable Housing Fund Neighborhood & Development Services 325,000 750,000 1,000,000 830,000 170,000 83.0% 2510 Peninsula Apartments Neighborhood & Development Services 50,641 59,878 61,118 35,201 25,917 57.6% 26** Tax Increment Financing Finance 392,130 505,193 620,193 96,644 523,549 15.6% 2820 SSMID-Downtown District Finance 354,385 400,124 400,124 204,699 195,425 51.2% Total Special Revenue Funds 10,224,785 11,015,648 12,487,446 8,039,260 4,448,186 64.4% Debt Service Fund 5*** Debt Service Finance 13,469,600 13,722,450 13,806,387 4,655,678 9,150,709 33.7% Total Debt Service Fund 13,469,600 13,722,450 13,806,387 4,655,678 9,150,709 33.7% City of Iowa City Expenditures by Fund by Department Fiscal Year 2019 through March 31, 2019 8 2018 Actual 2019 Budget 2019 Revised 2019 Actual Variance Percent City of Iowa City Expenditures by Fund by Department Fiscal Year 2019 through March 31, 2019 Enterprise Funds 710* Parking Transportation & Resource Management 6,516,098$ 6,612,092$ 6,551,661$ 2,766,746$ 3,784,915$ 42.2% 715* Mass Transit Transportation & Resource Management 11,920,706 7,449,879 7,544,879 5,138,647 2,406,232 68.1% 720* Wastewater Public Works 15,738,755 13,284,732 13,284,732 11,106,146 2,178,586 83.6% 730* Water Public Works 14,382,141 8,388,774 8,440,774 6,399,741 2,041,033 75.8% 7400 Refuse Collection Transportation & Resource Management 3,106,776 3,433,507 3,498,007 2,480,829 1,017,178 70.9% 750* Landfill Transportation & Resource Management 4,940,648 5,035,196 6,078,392 4,547,152 1,531,240 74.8% 7600 Airport Airport Operations 468,122 357,309 357,309 312,550 44,759 87.5% 7700 Storm Water Public Works 497,954 537,865 537,865 318,439 219,426 59.2% 79** Housing Authority Neighborhood & Development Services 9,342,128 10,952,156 11,429,619 8,086,299 3,343,320 70.7% Total Enterprise Funds 66,913,328 56,051,510 57,723,238 41,156,548 16,566,690 71.3% Capital Project Funds Governmental Projects 32,499,396 23,580,970 81,247,520 23,125,561 58,121,959 28.5% Enterprise Projects 9,353,681 5,040,308 15,088,368 3,650,370 11,437,998 24.2% Total Capital Project Funds 41,853,076 28,621,278 96,335,888 26,775,931 69,559,957 27.8% Total Budgetary Expenditures 185,175,387$ 167,570,307$ 240,741,756$ 121,164,910$ 119,576,846$ 50.3% Non-Budgetary Funds Expenditures Internal Service Funds 810* Equipment Public Works 5,041,436$ 4,468,094$ 6,263,801$ 4,019,254$ 2,244,547$ 64.2% 8200 Risk Management Finance 1,947,564 1,440,328 1,440,328 1,096,500 343,828 76.1% 830* Information Technology Finance 2,034,623 2,160,935 2,160,935 1,359,911 801,024 62.9% 8400 Central Services Finance 188,468 193,387 193,387 121,164 72,223 62.7% 8500 Health Insurance Reserves Finance 7,848,190 8,381,923 8,381,923 6,827,123 1,554,800 81.5% 8600 Dental Insurance Reserves Finance 364,128 409,442 409,442 239,338 170,104 58.5% Total Internal Service Funds 17,424,410 17,054,109 18,849,816 13,663,290 5,186,526 72.5% Total Non-Budgetary Expenditures 17,424,410$ 17,054,109$ 18,849,816$ 13,663,290$ 5,186,526$ 72.5% Total Expenditures - All Funds 202,599,797$ 184,624,416$ 259,591,572$ 134,828,200$ 124,763,372$ 51.9% 9