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FY2021 1st Qtr Financial Summary Date: October 19, 2020 To: City Manager, City Council From: Jacklyn Fleagle, Budget & Compliance Officer Re: Quarterly Financial Summary for Period Ending September 30, 2020 Introduction Attached to this memorandum are the City’s quarterly financial reports as of September 30, 2020. The quarterly financial report includes combined summaries of all fund balances, revenues, and expenditures for fiscal year 2021 through the end of the first quarter, which is 25% of the way through the fiscal year. Below are some of the highlights from this quarter’s financial activity. Revenue Analysis This revenue analysis pertains to the revenue reports, Revenues by Fund and Revenues by Type, on pages 4-6. In these two reports, the actual revenues would ideally be near 25% of budget since we have completed one-fourth of the fiscal year; however, due to accruals back to the previous year and impacts from the COVID-19 pandemic, many of these percentages are below 25%. For the property tax supported funds, such as the General fund, Debt Service fund, and the Employee Benefits fund, their actual revenues are at 9.5%, 7.1%, and 6.8%, respectively. These funds have received a lower percentage of their revenue, because the City’s property tax receipts are due twice during the year, October and April, and the City will receive the majority of its property tax revenue at that time. This is not the same for the City’s enterprise funds. The City’s enterprise funds are primarily supported by service charges which cause their actual revenues to be closer to the 25% mark. For instance, on page 4, the Water fund is at 20.9%, the Wastewater fund is at 19.9%, and the Landfill is at 29.3%. The Water and Wastewater funds’ revenues are under the 25% benchmark due to the accrual of revenues back to last fiscal year and due to COVID-19 related revenue disruption. Other funds with budget anomalies worth noting: the CDBG fund has actual revenues at 3.3% due to the timing of receipt of federal monies; and the Transit fund has actual revenues at 8.0% due to lower than normal ridership levels during the COVID-19 pandemic. Transit fund revenues for the same period in fiscal year 2020 were at 17.4% of budgeted amounts. Additionally, the Governmental Projects fund (page 4) has revenues at 0.3% due to the interest receivable accrual as well as the timing of the Bond Issuance that does not take place until the Spring. In addition, on page 5, Animal Adoption revenues are at 51.5% due to a larger amount of adoptions so far this year. Culture and Recreation fees are at 7.0% due to program cancelations with the ongoing COVID-19 pandemic. The COVID-19 pandemic has also had an impact on Rent revenues, which are at 14.7%. Comparatively, Culture and Recreation fees were at 24.8% and Rent revenues were at 26.7% for the same period in fiscal year 2020. The combined total actual revenues for all budgetary funds through September are $22,196,713 or 11.6% of budget. Overall, the City’s revenues are not substantially different than projected, and the anomalies and budget variances can be explained; however, the COVID-19 pandemic has impacted several funds and revenue streams, and will require monitoring and evaluation moving through the rest of the fiscal year. 1 Expenditure Analysis This expenditure analysis pertains to the reports, Expenditures by Fund and Expenditures by Fund by Department on pages 7-9. The analysis of the City’s expenditures for fiscal year 2021 through September is similar to the analysis for the City’s revenues. We generally expect the actual expenditure levels to be around 25% of budget at this time of year. Some of the funds have expenditure activity through the first quarter significantly above the 25% mark. The following funds have a significant expenditure variance above 25%: • Affordable Housing fund is at 55.6% due to payments made to the Housing Trust Fund of Johnson County. • Wastewater fund is at 42.0% due bond principal and interest payments paid in July. • Water fund is at 36.1% due to bond principal and interest payments paid in July. • Governmental Projects expenditures are at 8.7% and Enterprise Projects expenditures are at 7.8% because many of the capital projects are scheduled for construction next Spring. • Housing Authority fund is at 49.2% due to the purchase of affordable housing units within the Chauncy and Augusta Place buildings. Overall, the combined total actual expenditures for all budgetary funds through September are $39,171,465 or 17.8% of budget. Some expenditures may be lower due to budget cuts or revisions due to the COVID-19 pandemic. Overall, the City’s expenditures through the first quarter have a few major anomalies; however, these can be explained and are not unusual. Conclusion Generally, there are no major concerns to report with the City’s fund balances at September 30 other than the Parking Fund. The Parking Fund saw a large decrease in fund balance as a result of a steep decline in revenues due to the COVID-19 pandemic and the payoff of the Harrison Street Parking Ramp Lease Purchase Agreement. Two funds are presented (on page 3) with negative fund balances, the CDBG fund at -$7,902 and the Tax Increment Financing fund at -$449.838. These negative fund balances should reverse following the receipt of grant proceeds and property tax revenues. The other fund balances appear healthy. Additional information is available from the Finance Department upon request. 2 Beginning Ending Restricted, Unassigned Fund Year-to-Date Transfers Year-to-Date Transfers Fund Committed, Fund Balance Revenues In Expenditures Out Balance Assigned Balance Budgetary Funds General Fund 10** General Fund 41,640,906$ 5,826,964$ 3,787,670$ 13,148,484$ 1,373,219$ 36,733,837$ 11,518,543$ 25,215,293$ Special Revenue Funds 2100 Community Dev Block Grant (17,210) 69,980 - 60,340 332 (7,902) - (7,902) 2110 HOME (37,396) 113,424 - 17,684 - 58,343 - 58,343 2200 Road Use Tax Fund 3,547,923 1,738,558 176,572 1,474,475 659,804 3,328,775 - 3,328,775 2300 Other Shared Revenue 2,639 - - - - 2,639 - 2,639 2350 Metro Planning Org of J.C. 434,368 56,957 94,644 161,350 - 424,619 - 424,619 2400 Employee Benefits 3,584,853 996,501 - 587,463 3,911,801 82,090 - 82,090 2450 Emergency Levy Fund 2,613 71,516 - 9,614 25,000 39,515 - 39,515 2500 Affordable Housing Fund 1,622,344 2,825 250,000 556,383 - 1,318,786 - 1,318,786 2510 Peninsula Apartments 186,172 16,827 - 12,270 - 190,729 - 190,729 26** Tax Increment Financing 783,349 85,941 - - - 869,289 1,319,128 (449,838) 2820 SSMID-Downtown District 4,100 14,138 - - - 18,238 - 18,238 Debt Service Fund 5*** Debt Service 9,354,037 816,710 - 375 - 10,170,372 2,025,364 8,145,007 Enterprise Funds 710* Parking 2,171,685 1,176,726 250,000 669,757 455,851 2,472,802 112,500 2,360,302 715* Mass Transit 6,914,358 713,259 1,020,022 1,380,043 - 7,267,597 4,997,537 2,270,059 720* Wastewater 23,423,905 2,369,305 1,215,595 4,161,666 1,402,688 21,444,452 10,122,255 11,322,197 730* Water 13,016,182 2,082,311 690,370 3,276,292 690,016 11,822,555 5,155,983 6,666,572 7400 Refuse Collection 1,690,269 707,112 1,195 886,475 - 1,512,100 - 1,512,100 750* Landfill 24,875,610 2,090,591 114,259 1,072,366 - 26,008,093 22,904,691 3,103,402 7600 Airport 235,540 92,312 25,000 83,962 - 268,891 177,071 91,820 7700 Storm Water 1,088,776 313,229 250,225 139,188 312,303 1,200,739 300,000 900,739 79** Housing Authority 7,828,046 2,751,088 - 5,154,380 12,680 5,412,073 1,259,796 4,152,278 Capital Project Funds Governmental Projects 27,827,791 78,308 583,140 5,026,363 - 23,462,875 - 23,462,875 Enterprise Projects 10,086,942 12,133 385,000 1,292,536 - 9,191,539 - 9,191,539 Total Budgetary Funds 180,267,800$ 22,196,713$ 8,843,693$ 39,171,465$ 8,843,693$ 163,293,047$ 59,892,869$ 103,400,179$ Non-Budgetary Funds Internal Service Funds 810* Equipment 17,243,785$ 1,806,662$ -$ 1,316,797$ -$ 17,733,651$ 14,244,319$ 3,489,331$ 8200 Risk Management 4,113,594 7,553 - 204,720 - 3,916,427 - 3,916,427 830* Information Technology 3,254,738 493,385 - 523,217 - 3,224,906 751,199 2,473,707 8400 Central Services 756,956 47,140 - 32,963 - 771,133 - 771,133 8500 Health Insurance Reserves 12,300,290 2,669,651 - 2,534,597 - 12,435,344 8,627,420 3,807,924 8600 Dental Insurance Reserves 374,616 100,327 - 89,860 - 385,083 - 385,083 Total Non-Budgetary Funds 38,043,980$ 5,124,718$ -$ 4,702,154$ -$ 38,466,544$ 23,622,939$ 14,843,605$ Total All Funds 218,311,780$ 27,321,431$ 8,843,693$ 43,873,620$ 8,843,693$ 201,759,591$ 83,515,807$ 118,243,784$ City of Iowa City Fund Summary Fiscal Year 2021 through September 30, 2020 3 2020 Actual 2021 Budget 2021 Revised 2021 Actual Variance Percent Budgetary Fund Revenues General Fund 10** General Fund 54,093,751$ 59,264,838$ 61,070,420$ 5,826,964$ (55,243,456)$ 9.5% Special Revenue Funds 2100 Community Dev Block Grant 696,930 784,935 2,095,404 69,980 (2,025,424) 3.3% 2110 HOME 890,256 599,082 868,153 113,424 (754,729) 13.1% 2200 Road Use Tax Fund 9,343,122 8,935,700 8,935,700 1,738,558 (7,197,142) 19.5% 2300 Other Shared Revenue 12,500 - 39,927 - (39,927) 0.0% 2350 Metro Planning Org of Johnson Co 393,607 377,352 377,352 56,957 (320,395) 15.1% 2400 Employee Benefits 12,798,747 14,712,009 14,712,009 996,501 (13,715,508) 6.8% 2450 Emergency Levy Fund 2,613 1,001,442 1,001,442 71,516 (929,926) 7.1% 2500 Affordable Housing Fund (26,615) - - 2,825 2,825 0.0% 2510 Peninsula Apartments 65,497 68,430 68,430 16,827 (51,603) 24.6% 26** Tax Increment Financing 3,479,948 2,608,203 2,608,203 85,941 (2,522,262) 3.3% 2820 SSMID-Downtown District 371,277 492,596 492,596 14,138 (478,458) 2.9% Debt Service Fund 5*** Debt Service 12,084,974 11,450,899 11,450,899 816,710 (10,634,189) 7.1% Enterprise Funds 710* Parking 4,555,583 5,935,900 5,141,800 1,176,726 (3,965,074) 22.9% 715* Mass Transit 5,114,607 4,457,460 8,867,330 713,259 (8,154,071) 8.0% 720* Wastewater 12,854,265 11,895,436 11,895,436 2,369,305 (9,526,131) 19.9% 730* Water 10,398,875 9,985,860 9,985,860 2,082,311 (7,903,549) 20.9% 7400 Refuse Collection 3,808,883 3,886,220 3,886,220 707,112 (3,179,108) 18.2% 750* Landfill 7,273,518 7,202,311 7,136,351 2,090,591 (5,045,760) 29.3% 7600 Airport 444,564 364,820 414,820 92,312 (322,508) 22.3% 7700 Storm Water 1,749,864 1,714,700 1,714,700 313,229 (1,401,471) 18.3% 79** Housing Authority 10,379,669 10,236,271 10,581,385 2,751,088 (7,830,297) 26.0% Capital Project Funds Governmental Projects 16,828,142 18,167,000 25,661,307 78,308 (25,582,999) 0.3% Enterprise Projects 3,046,134 1,652,776 2,627,161 12,133 (2,615,028) 0.5% Total Budgetary Revenues 170,660,713$ 175,794,240$ 191,632,905$ 22,196,713$ (169,436,192)$ 11.6% Non-Budgetary Fund Revenues Internal Service Funds 810* Equipment 7,106,528$ 7,448,587$ 7,448,587$ 1,806,662$ (5,641,925)$ 24.3% 8200 Risk Management 1,741,050 1,646,580 1,646,580 7,553 (1,639,027) 0.5% 830* Information Technology 2,693,000 2,495,792 2,495,792 493,385 (2,002,407) 19.8% 8400 Central Services 243,536 255,988 255,988 47,140 (208,848) 18.4% 8500 Health Insurance Reserves 10,272,878 11,196,638 11,196,638 2,669,651 (8,526,987) 23.8% 8600 Dental Insurance Reserves 411,351 458,475 458,475 100,327 (358,148) 21.9% Total Non-Budgetary Revenues 22,468,344$ 23,502,060$ 23,502,060$ 5,124,718$ (18,377,342)$ 21.8% Total Revenues - All Funds 193,129,057$ 199,296,300$ 215,134,965$ 27,321,431$ (187,813,534)$ 12.7% City of Iowa City Revenues by Fund Fiscal Year 2021 through September 30, 2020 4 2020 Actual 2021 Budget 2021 Revised 2021 Actual Variance Percent Budgetary Fund Revenues Property Taxes 59,360,168$ 65,849,136$ 65,849,136$ 4,708,538$ (61,140,598)$ 7.2% Other City Taxes: TIF Revenues 3,434,710 2,593,203 2,593,203 82,365 (2,510,838) 3.2% Gas/Electric Excise Taxes 677,091 633,387 633,387 - (633,387) 0.0% Mobile Home Taxes 51,220 58,361 58,361 13,076 (45,285) 22.4% Hotel/Motel Taxes 1,134,864 1,301,820 1,301,820 - (1,301,820) 0.0% Utility Franchise Tax 883,652 964,690 964,690 1,893 (962,797) 0.2% Subtotal 6,181,536 5,551,461 5,551,461 97,334 (5,454,127) 1.8% Licenses, Permits, & Fees: General Use Permits 15,063 85,410 85,410 2,132 (83,278) 2.5% Food & Liquor Licenses 95,476 126,710 126,710 5,704 (121,006) 4.5% Professional License 3,925 6,160 6,160 175 (5,985) 2.8% Franchise Fees 438,753 512,750 512,750 143,150 (369,600) 27.9% Construction Permits & Insp Fees 1,742,746 1,954,820 1,794,820 477,482 (1,317,338) 26.6% Misc Lic & Permits 68,060 49,620 49,620 26,293 (23,327) 53.0% Subtotal 2,364,024 2,735,470 2,575,470 654,936 (1,920,534) 25.4% Intergovernmental: Fed Intergovernment Revenue 15,404,149 16,820,081 30,534,533 2,745,160 (27,789,373) 9.0% Property Tax Credits 1,519,888 1,923,358 1,923,358 - (1,923,358) 0.0% Road Use Tax 9,163,303 8,820,140 8,820,140 1,681,845 (7,138,295) 19.1% State 28E Agreements 2,107,692 1,976,419 2,014,419 2,891 (2,011,528) 0.1% Operating Grants 66,984 69,580 69,580 21,460 (48,120) 30.8% Other State Grants 5,510,294 3,069,046 6,479,392 99,363 (6,380,029) 1.5% Local 28E Agreements 1,280,923 2,883,620 2,883,620 531,539 (2,352,081) 18.4% Subtotal 35,053,234 35,562,244 52,725,042 5,082,257 (47,642,785) 9.6% Charges For Fees And Services: Building & Development 492,643 428,570 428,570 119,310 (309,260) 27.8% Police Services 188,901 100,000 100,000 5,164 (94,836) 5.2% Animal Care Services 13,484 14,920 14,920 2,540 (12,380) 17.0% Fire Services 8,880 9,060 9,060 (120) (9,180) -1.3% Transit Fees 968,924 1,220,390 750,390 120,199 (630,191) 16.0% Culture & Recreation 467,105 776,548 591,548 41,641 (549,907) 7.0% Misc Charges For Services 53,024 68,820 68,820 16,090 (52,730) 23.4% Water Charges 10,051,603 9,748,310 9,748,310 2,065,032 (7,683,278) 21.2% Wastewater Charges 12,353,935 11,631,416 11,631,416 2,303,656 (9,327,760) 19.8% Refuse Charges 4,185,695 4,278,720 4,278,720 923,142 (3,355,578) 21.6% Landfill Charges 5,961,888 6,224,330 6,224,330 1,782,615 (4,441,715) 28.6% Storm Water Charges 1,730,056 1,700,000 1,700,000 310,416 (1,389,584) 18.3% Parking Charges 4,795,660 6,378,760 5,354,660 1,562,814 (3,791,846) 29.2% Subtotal 41,271,797 42,579,844 40,900,744 9,252,499 (31,648,245) 22.6% Miscellaneous: Code Enforcement 300,368 269,340 269,340 10,759 (258,581) 4.0% Parking Fines 438,244 585,000 585,000 105,085 (479,916) 18.0% Library Fines & Fees 60,545 100,000 50,000 1,649 (48,351) 3.3% Contributions & Donations 496,111 309,310 544,237 52,661 (491,576) 9.7% Printed Materials 39,128 46,710 46,710 3,372 (43,338) 7.2% Animal Adoption 62,646 35,000 35,000 18,010 (16,990) 51.5% Misc Merchandise 36,506 62,760 62,760 1,536 (61,224) 2.4% Intra-City Charges 4,667,718 5,090,750 5,090,750 1,271,555 (3,819,195) 25.0% Other Misc Revenue 913,580 795,155 795,155 113,372 (681,783) 14.3% Special Assessments 294 570 570 14 (556) 2.5% Subtotal 7,015,141$ 7,294,595$ 7,479,522$ 1,578,012$ (5,901,510)$ 21.1% City of Iowa City Revenues by Type Fiscal Year 2021 through September 30, 2020 5 2020 Actual 2021 Budget 2021 Revised 2021 Actual Variance Percent City of Iowa City Revenues by Type Fiscal Year 2021 through September 30, 2020 Use Of Money And Property: Interest Revenues 3,277,337$ 1,705,802$ 1,639,842$ 335,797$ (1,304,045)$ 20.5% Rents 1,177,377 1,331,104 1,196,104 176,065 (1,020,039) 14.7% Royalties & Commissions 100,348 106,603 87,603 24,254 (63,349) 27.7% Subtotal 4,555,062 3,143,509 2,923,549 536,116 (2,387,433) 18.3% Other Financial Sources: Debt Sales 13,012,385 11,871,140 11,871,140 - (11,871,140) 0.0% Sale Of Assets 901,476 501,700 1,051,700 62,232 (989,469) 5.9% Insurance Recoveries 2,258 - - - - 0.0% Loans 943,633 705,141 705,141 224,790 (480,351) 31.9% Subtotal 14,859,751 13,077,981 13,627,981 287,021 (13,340,960) 2.1% Total Budgetary Revenues 170,660,713$ 175,794,240$ 191,632,905$ 22,196,713$ (169,436,192) 11.6% Non-Budgetary Fund Revenues Internal Service Funds 22,468,344$ 23,502,060$ 23,502,060$ 5,124,718$ (18,377,342)$ 21.8% Total Non-Budgetary Revenues 22,468,344$ 23,502,060$ 23,502,060$ 5,124,718$ (18,377,342)$ 21.8% Total Revenues - All Funds 193,129,057$ 199,296,300$ 215,134,965$ 27,321,431$ (187,813,534)$ 12.7% 6 2020 Actual 2021 Budget 2021 Revised 2021 Actual Variance Percent Budgetary Fund Expenditures General Fund 10** General Fund 57,237,520$ 63,133,164$ 63,586,483$ 13,148,484$ 50,437,999$ 20.7% Special Revenue Funds 2100 Community Dev Block Grant 710,805 734,915 1,916,454 60,340 1,856,114 3.1% 2110 HOME 864,090 471,281 739,827 17,684 722,143 2.4% 2200 Road Use Tax Fund 6,541,337 6,860,459 6,918,828 1,474,475 5,444,353 21.3% 2300 Other Shared Revenue 1,810 - 39,927 - 39,927 0.0% 2350 Metro Planning Org of Johnson Co. 666,417 785,929 784,616 161,350 623,266 20.6% 2400 Employee Benefits 1,380,902 1,321,730 1,321,730 587,463 734,267 44.4% 2450 Emergency Levy Fund - 900,800 900,800 9,614 891,186 1.1% 2500 Affordable Housing Fund 986,779 1,000,000 1,000,000 556,383 443,617 55.6% 2510 Peninsula Apartments 60,567 57,548 57,548 12,270 45,278 21.3% 26** Tax Increment Financing 1,545,792 1,240,029 1,240,029 - 1,240,029 0.0% 2820 SSMID-Downtown District 367,177 492,596 492,596 - 492,596 0.0% Debt Service Fund 5*** Debt Service 13,038,331 14,519,819 14,519,819 375 14,519,444 0.0% Enterprise Funds 720* Wastewater 8,928,996 9,904,664 9,916,480 4,161,666 5,754,814 42.0% 730* Water 8,512,594 9,048,440 9,087,438 3,276,292 5,811,146 36.1% 7400 Refuse Collection 3,687,875 3,920,390 3,920,077 886,475 3,033,602 22.6% 750* Landfill 5,337,862 5,456,843 5,470,086 1,072,366 4,397,720 19.6% 7600 Airport 421,723 367,708 367,283 83,962 283,321 22.9% 7700 Storm Water 603,911 679,879 679,161 139,188 539,973 20.5% 79** Housing Authority 9,904,793 10,139,876 10,483,388 5,154,380 5,329,008 49.2% Capital Project Funds Governmental Projects 24,661,959 22,705,470 57,625,115 5,026,363 52,598,752 8.7% Enterprise Projects 5,947,033 6,834,650 16,560,490 1,292,536 15,267,954 7.8% Total Budgetary Expenditures 172,847,385$ 175,502,415$ 219,845,720$ 39,171,465$ 180,674,255$ 17.8% Non-Budgetary Funds Expenditures Internal Service Funds 810* Equipment 5,786,860$ 6,156,284$ 8,406,224$ 1,316,797$ 7,089,427$ 15.7% 8200 Risk Management 1,511,332 1,623,630 1,623,630 204,720 1,418,910 12.6% 830* Information Technology 2,430,267 2,513,842 2,513,842 523,217 1,990,625 20.8% 8400 Central Services 188,400 225,477 251,671 32,963 218,708 13.1% 8500 Health Insurance Reserves 9,129,477 11,070,318 11,070,318 2,534,597 8,535,721 22.9% 8600 Dental Insurance Reserves 295,202 449,071 449,071 89,860 359,211 20.0% Total Non-Budgetary Expenditures 19,341,538$ 22,038,622$ 24,314,756$ 4,702,154$ 19,612,602$ 19.3% Total Expenditures - All Funds 192,188,923$ 197,541,037$ 244,160,476$ 43,873,620$ 200,286,856$ 18.0% City of Iowa City Expenditures by Fund Fiscal Year 2021 through September 30, 2020 7 2020 Actual 2021 Budget 2021 Revised 2021 Actual Variance Percent Budgetary Funds Expenditures General Fund 10** General Fund City Council 149,211$ 159,554$ 157,929$ 38,368$ 119,561$ 24.3% City Clerk 491,473 524,699 523,494 117,674 405,820 22.5% City Attorney 836,849 867,117 871,776 190,901 680,875 21.9% City Manager 3,727,694 4,286,206 4,541,791 993,829 3,547,962 21.9% Finance 4,089,409 4,631,600 4,908,111 1,665,812 3,242,299 33.9% Police 14,503,070 15,667,193 15,757,905 3,193,469 12,564,436 20.3% Fire 8,477,009 9,035,169 9,048,784 2,062,188 6,986,596 22.8% Parks & Recreation 8,574,238 10,443,623 10,340,271 1,778,651 8,561,620 17.2% Library 6,327,197 7,092,059 6,949,366 1,279,810 5,669,556 18.4% Senior Center 913,616 1,038,668 1,036,718 197,000 839,718 19.0% Neighborhood & Development Services 6,066,892 5,614,025 5,709,960 912,046 4,797,914 16.0% Public Works 2,478,292 3,117,289 3,084,416 586,115 2,498,301 19.0% Transportation & Resource Management 602,569 655,962 655,962 132,622 523,340 20.2% Total General Fund 57,237,520 63,133,164 63,586,483 13,148,484 50,437,999 20.7% Special Revenue Funds 2100 Community Dev Block Grant Neighborhood & Development Services 710,805 734,915 1,916,454 60,340 1,856,114 3.1% 2110 HOME Neighborhood & Development Services 864,090 471,281 739,827 17,684 722,143 2.4% 2200 Road Use Tax Fund Public Works 6,541,337 6,860,459 6,918,828 1,474,475 5,444,353 21.3% 2300 Other Shared Revenue Neighborhood & Development Services 1,810 - 39,927 - 39,927 0.0% 2350 Metro Planning Org of Johnson Co Neighborhood & Development Services 666,417 785,929 784,616 161,350 623,266 20.6% 2400 Employee Benefits Finance 1,380,902 1,321,730 1,321,730 587,463 734,267 44.4% 2450 Emergency Levy Fund City Manager - 900,800 900,800 9,614 2500 Affordable Housing Fund Neighborhood & Development Services 986,779 1,000,000 1,000,000 556,383 443,617 55.6% 2510 Peninsula Apartments Neighborhood & Development Services 60,567 57,548 57,548 12,270 45,278 21.3% 26** Tax Increment Financing Finance 1,545,792 1,240,029 1,240,029 - 1,240,029 0.0% 2820 SSMID-Downtown District Finance 367,177 492,596 492,596 - 492,596 0.0% Total Special Revenue Funds 13,125,677 13,865,287 15,412,355 2,879,578 12,532,777 18.7% Debt Service Fund 5*** Debt Service Finance 13,038,331 14,519,819 14,519,819 375 14,519,444 0.0% Total Debt Service Fund 13,038,331 14,519,819 14,519,819 375 14,519,444 0.0% City of Iowa City Expenditures by Fund by Department Fiscal Year 2021 through September 30, 2020 8 2020 Actual 2021 Budget 2021 Revised 2021 Actual Variance Percent City of Iowa City Expenditures by Fund by Department Fiscal Year 2021 through September 30, 2020 Enterprise Funds 710* Parking Transportation & Resource Management 13,153,203$ 6,937,252$ 4,393,602$ 669,757$ 3,723,845$ 15.2% 715* Mass Transit Transportation & Resource Management 8,285,908 7,988,973 7,823,943 1,380,043 6,443,900 17.6% 720* Wastewater Public Works 8,928,996 9,904,664 9,916,480 4,161,666 5,754,814 42.0% 730* Water Public Works 8,512,594 9,048,440 9,087,438 3,276,292 5,811,146 36.1% 7400 Refuse Collection Transportation & Resource Management 3,687,875 3,920,390 3,920,077 886,475 3,033,602 22.6% 750* Landfill Transportation & Resource Management 5,337,862 5,456,843 5,470,086 1,072,366 4,397,720 19.6% 7600 Airport Airport Operations 421,723 367,708 367,283 83,962 283,321 22.9% 7700 Storm Water Public Works 603,911 679,879 679,161 139,188 539,973 20.5% 79** Housing Authority Neighborhood & Development Services 9,904,793 10,139,876 10,483,388 5,154,380 5,329,008 49.2% Total Enterprise Funds 58,836,864 54,444,025 52,141,458 16,824,129 35,317,329 32.3% Capital Project Funds Governmental Projects 24,661,959 22,705,470 57,625,115 5,026,363 52,598,752 8.7% Enterprise Projects 5,947,033 6,834,650 16,560,490 1,292,536 15,267,954 7.8% Total Capital Project Funds 30,608,993 29,540,120 74,185,605 6,318,899 67,866,706 8.5% Total Budgetary Expenditures 172,847,385$ 175,502,415$ 219,845,720$ 39,171,465$ 180,674,255$ 17.8% Non-Budgetary Funds Expenditures Internal Service Funds 810* Equipment Public Works 5,786,860$ 6,156,284$ 8,406,224$ 1,316,797$ 7,089,427$ 15.7% 8200 Risk Management Finance 1,511,332 1,623,630 1,623,630 204,720 1,418,910 12.6% 830* Information Technology Finance 2,430,267 2,513,842 2,513,842 523,217 1,990,625 20.8% 8400 Central Services Finance 188,400 225,477 251,671 32,963 218,708 13.1% 8500 Health Insurance Reserves Finance 9,129,477 11,070,318 11,070,318 2,534,597 8,535,721 22.9% 8600 Dental Insurance Reserves Finance 295,202 449,071 449,071 89,860 359,211 20.0% Total Internal Service Funds 19,341,538 22,038,622 24,314,756 4,702,154 19,612,602 19.3% Total Non-Budgetary Expenditures 19,341,538$ 22,038,622$ 24,314,756$ 4,702,154$ 19,612,602$ 19.3% Total Expenditures - All Funds 192,188,923$ 197,541,037$ 244,160,476$ 43,873,620$ 200,286,856$ 18.0% 9