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Home My WebLink AboutFY2022 2nd Qtr Financial SummaryDate: February 1, 2022 To: City Manager, City Council From: Jacklyn Fleagle, Budget & Compliance Officer Re: Quarterly Financial Summary for Period Ending December 31, 2021 Introduction Attached to this memorandum are the City’s quarterly financial reports as of December 31, 2021. The quarterly financial reports include combined summaries of all fund balances, revenues, and expenditures for fiscal year 2022 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%. Funds with budget anomalies on page 4 worth noting: the Transit fund has actual revenues at 11.2% due to the timing of receipt for the federal operating grant and expected COVID-19 grant; and the Risk Management fund has actual revenues at 73.2% due to the timing of the entries made for loss reserve payments to intra-city charges. Additionally, the Governmental Projects fund has revenues of 6.3% due to the timing of funding for CIP projects through grants and bond sales. On page 5, an example of revenue that is below the 50% mark due to accruals include Utility Franchise Taxes at 35.4% under Other City Taxes. This revenue source is received quarterly and had the first receipt during the fiscal year accrued back to last fiscal year. The report appears as if this revenue is behind budget projections; however, this revenue source is in line with last year. Other revenues on page 5 that are either above or below the 50% mark due to the timing of grants, 28E agreements or contributions receipts include Federal Intergovernmental Revenue at 27.8%, State 28E Agreements at 103.9%, Local 28E Agreements at 28.0%, and Contributions & Donations at 19.4% of budget. Additionally, other revenues above or below 50% of budget include Food & Liquor Licenses revenues at 98.1% of budget due to higher-than-expected receipts. Building & Development revenues are also higher than expected at 137.5% of budgeted amounts due to higher-than- expected plan check fees and an Affordable Housing fee-in-lieu received. On the contrary, Library fines are at 3.5% of budget due to the Library not charging late fees during the pandemic. The combined total actual revenues for all budgetary funds through December are $81,858,889 or 42.1% 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 2022 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 8.2% due to the timing of projects. • Tax Increment Financing funds are at 22.6% due to the timing of rebate payments. • Debt Service Fund expenditures are at 7.5%, because the general obligation bond principal payments are not due until June 1. • Wastewater fund is at 63.2% due to bond principal and interest payments paid in July. • Water fund is at 60.5% due to bond principal and interest payments paid in July. • Governmental Projects expenditures are at 16.4% and Enterprise Projects expenditures are at 13.3% because many of the capital projects are scheduled for construction this spring. • Equipment fund is at 33.5% due to the timing of equipment purchases and replacements. Overall, the combined total actual expenditures for all budgetary funds through December are $78,656,328 or 34.4% 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 a negative fund balance, the CDBG fund at -$122,819. This negative fund balance should reverse following the receipt of grant proceeds. The other fund balances appear healthy. Additional information is available from the Finance Department upon request. 2 Beginning Ending Restricted,Unassigned Fund Year-to-Date Transfers Year-to-Date Transfers Fund Committed,Fund Balance Revenues In Expenditures Out Balance Assigned Balance Budgetary Funds General Fund 10** General Fund 50,838,356$ 30,551,509$ 6,367,406$ 30,726,081$ 3,001,140$ 54,030,051$ 15,574,617$ 38,455,435$ Special Revenue Funds 2100 Community Dev Block Grant 19,924 173,273 - 285,575 30,441 (122,819) - (122,819) 2110 HOME 4,434 155,770 - 37,357 - 122,847 - 122,847 2200 Road Use Tax Fund 4,405,316 4,205,571 315,659 3,049,563 1,676,699 4,200,285 - 4,200,285 2300 Other Shared Revenue 8,813,343 350,689 - 28,808 - 9,135,225 - 9,135,225 2350 Metro Planning Org of J.C.438,463 158,387 195,357 382,314 - 409,894 - 409,894 2400 Employee Benefits 3,630,989 7,904,662 - 696,777 6,575,540 4,263,334 - 4,263,334 2450 Emergency Levy Fund 794,225 541,087 - 139,494 50,000 1,145,818 - 1,145,818 2500 Affordable Housing Fund 3,598,374 234,817 500,000 614,178 - 3,719,013 - 3,719,013 2510 Peninsula Apartments 194,571 119,090 - 105,365 - 208,296 - 208,296 26** Tax Increment Financing 1,421,524 2,004,703 - 563,314 - 2,862,913 1,159,892 1,703,020 2820 SSMID-Downtown District - 206,135 - 142,679 - 63,456 - 63,456 Debt Service Fund 5*** Debt Service 7,245,357 5,824,811 - 984,431 - 12,085,737 - 12,085,737 Enterprise Funds 710* Parking 2,272,962 2,584,361 445,000 1,768,856 732,730 2,800,736 598,702 2,202,034 715* Mass Transit 8,519,509 1,267,936 2,071,056 3,724,797 (27,425) 8,161,129 6,188,089 1,973,040 720* Wastewater 24,842,383 5,580,976 2,770,841 6,341,477 2,829,625 24,023,098 11,233,156 12,789,942 730* Water 12,833,162 5,013,527 1,589,712 5,652,527 1,588,658 12,195,216 6,132,670 6,062,547 7400 Refuse Collection 1,268,644 1,770,662 3,561 2,014,751 (6,125) 1,034,241 - 1,034,241 750* Landfill 25,728,087 3,973,706 742,877 2,712,671 511,945 27,220,053 24,396,054 2,823,999 7600 Airport 263,541 240,502 50,000 199,885 (17,540) 371,698 267,362 104,337 7700 Storm Water 1,487,988 768,573 750,671 272,985 870,000 1,864,247 1,019,000 845,247 79** Housing Authority 5,925,597 5,833,328 - 6,562,603 25,918 5,170,404 1,289,833 3,880,571 Capital Project Funds Governmental Projects 29,917,442 1,569,366 1,760,554 8,864,941 - 24,382,422 - 24,382,422 Enterprise Projects 12,179,641 825,451 703,910 2,784,901 425,000 10,499,101 - 10,499,101 Total Budgetary Funds 206,643,834$ 81,858,889$ 18,266,605$ 78,656,328$ 18,266,605$ 209,846,395$ 67,859,374$ 141,987,021$ Non-Budgetary Funds Internal Service Funds 810* Equipment 18,029,196$ 3,727,337$ -$ 2,118,974$ -$ 19,637,559$ 15,700,469$ 3,937,090$ 8200 Risk Management 4,314,361 1,236,830 - 1,089,239 - 4,461,951 - 4,461,951 830* Information Technology 3,545,082 1,215,507 - 1,447,749 - 3,312,840 1,373,205 1,939,636 8400 Central Services 798,111 121,325 - 124,834 - 794,601 - 794,601 8500 Health Insurance Reserves 12,309,571 5,685,006 - 5,102,156 - 12,892,421 9,697,868 3,194,553 8600 Dental Insurance Reserves 423,567 198,024 - 169,354 - 452,237 - 452,237 Total Non-Budgetary Funds 39,419,888$ 12,184,029$ -$ 10,052,307$ -$ 41,551,610$ 26,771,542$ 14,780,068$ Total All Funds 246,063,722$ 94,042,918$ 18,266,605$ 88,708,635$ 18,266,605$ 251,398,004$ 94,630,916$ 156,767,088$ City of Iowa City Fund Summary Fiscal Year 2022 through December 31, 2021 3 2021 Actual 2022 Budget 2022 Revised 2022 Actual Variance Percent Budgetary Fund Revenues General Fund 10** General Fund 59,021,824$ 58,854,140$ 59,406,832$ 30,551,509$ (28,855,323)$ 51.4% Special Revenue Funds 2100 Community Dev Block Grant 1,431,648 826,573 1,210,198 173,273 (1,036,925) 14.3% 2110 HOME 323,187 665,356 1,094,976 155,770 (939,206) 14.2% 2200 Road Use Tax Fund 10,241,077 9,293,500 9,293,500 4,205,571 (5,087,929) 45.3% 2300 Other Shared Revenue 9,162,595 - 351,659 350,689 (970) 99.7% 2350 Metro Planning Org of Johnson Co 385,456 394,296 394,296 158,387 (235,909) 40.2% 2400 Employee Benefits 14,799,472 14,901,826 14,901,826 7,904,662 (6,997,164) 53.0% 2450 Emergency Levy Fund 1,039,399 1,046,152 1,046,152 541,087 (505,065) 51.7% 2500 Affordable Housing Fund 1,836,537 - - 234,817 234,817 0.0% 2510 Peninsula Apartments 85,162 127,933 127,933 119,090 (8,843) 93.1% 26** Tax Increment Financing 2,679,150 4,125,528 4,125,528 2,004,703 (2,120,825) 48.6% 2820 SSMID-Downtown District 503,091 470,394 470,394 206,135 (264,259) 43.8% Debt Service Fund 5*** Debt Service 11,517,947 11,220,220 11,220,220 5,824,811 (5,395,409) 51.9% Enterprise Funds 710* Parking 3,817,435 5,977,526 5,977,526 2,584,361 (3,393,165) 43.2% 715* Mass Transit 4,614,597 11,360,399 11,360,399 1,267,936 (10,092,463) 11.2% 720* Wastewater 12,340,861 12,630,210 12,630,210 5,580,976 (7,049,234) 44.2% 730* Water 10,045,311 10,815,680 10,828,954 5,013,527 (5,815,427) 46.3% 7400 Refuse Collection 3,915,932 3,936,670 3,940,036 1,770,662 (2,169,374) 44.9% 750* Landfill 8,365,111 7,329,338 7,329,338 3,973,706 (3,355,632) 54.2% 7600 Airport 398,016 373,100 373,100 240,502 (132,598) 64.5% 7700 Storm Water 1,714,836 1,744,660 1,744,660 768,573 (976,087) 44.1% 79** Housing Authority 10,236,325 10,656,382 10,656,382 5,833,328 (4,823,054) 54.7% Capital Project Funds Governmental Projects 15,049,424 13,150,000 24,952,030 1,569,366 (23,382,664) 6.3% Enterprise Projects 1,733,157 292,500 1,057,393 825,451 (231,942) 78.1% Total Budgetary Revenues 185,257,551$ 180,192,383$ 194,493,541$ 81,858,889$ (112,634,652)$ 42.1% Non-Budgetary Fund Revenues Internal Service Funds 810* Equipment 7,496,050$ 7,629,691$ 7,629,691$ 3,727,337$ (3,902,354)$ 48.9% 8200 Risk Management 1,624,378 1,689,680 1,689,680 1,236,830 (452,850) 73.2% 830* Information Technology 2,910,525 2,833,011 2,833,011 1,215,507 (1,617,504) 42.9% 8400 Central Services 198,909 236,009 236,009 121,325 (114,684) 51.4% 8500 Health Insurance Reserves 10,559,371 11,118,580 11,118,580 5,685,006 (5,433,574) 51.1% 8600 Dental Insurance Reserves 396,698 441,458 441,458 198,024 (243,434) 44.9% Total Non-Budgetary Revenues 23,185,931$ 23,948,429$ 23,948,429$ 12,184,029$ (11,764,400)$ 50.9% Total Revenues - All Funds 208,443,482$ 204,140,812$ 218,441,970$ 94,042,918$ (124,399,053)$ 43.1% City of Iowa City Revenues by Fund Fiscal Year 2022 through December 31, 2021 4 2021 Actual 2022 Budget 2022 Revised 2022 Actual Variance Percent Budgetary Fund Revenues Property Taxes 66,780,996$ 66,911,637$ 66,911,637$ 34,542,459$ (32,369,178)$ 51.6% Other City Taxes: TIF Revenues 2,637,854 4,125,528 4,125,528 1,982,224 (2,143,304) 48.0% Gas/Electric Excise Taxes 643,961 636,270 636,270 342,634 (293,636) 53.9% Mobile Home Taxes 63,002 51,710 51,710 38,574 (13,136) 74.6% Hotel/Motel Taxes 938,048 1,134,862 1,134,862 530,140 (604,722) 46.7% Utility Franchise Tax 993,852 883,660 883,660 313,236 (570,424) 35.4% Subtotal 5,276,717 6,832,030 6,832,030 3,206,808 (3,625,222) 46.9% Licenses, Permits, & Fees: General Use Permits 18,029 63,210 63,210 4,516 (58,694) 7.1% Food & Liquor Licenses 24,651 95,480 95,480 93,631 (1,849) 98.1% Professional License 3,760 5,050 5,050 1,820 (3,230) 36.0% Franchise Fees 441,264 581,900 581,900 138,279 (443,621) 23.8% Construction Permits & Insp Fees 1,707,958 1,774,840 1,774,840 996,075 (778,765) 56.1% Misc Lic & Permits 73,547 54,990 54,990 37,610 (17,380) 68.4% Subtotal 2,269,210 2,575,470 2,575,470 1,271,932 (1,303,538) 49.4% Intergovernmental: Fed Intergovernmental Revenue 26,721,430 20,789,970 29,068,050 8,078,686 (20,989,365) 27.8% Property Tax Credits 1,593,623 1,544,912 1,544,912 777,309 (767,603) 50.3% Road Use Tax 10,076,978 9,163,300 9,163,300 4,108,612 (5,054,688) 44.8% State 28E Agreements 2,128,143 1,964,420 2,014,420 2,093,406 78,986 103.9% Operating Grants 61,849 66,980 66,980 58,765 (8,215) 87.7% Disaster Assistance 2,700 - - - - 0.0% Other State Grants 2,257,948 1,532,465 5,172,043 741,154 (4,430,889) 14.3% Local 28E Agreements 1,343,940 1,313,480 2,913,480 815,501 (2,097,978) 28.0% Subtotal 44,186,611 36,375,527 49,943,185 16,673,433 (33,269,752) 33.4% Charges For Fees And Services: Building & Development 2,678,588 413,910 413,910 569,326 155,416 137.5% Police Services 13,523 98,710 98,710 26,749 (71,961) 27.1% Animal Care Services 11,742 13,480 13,480 7,985 (5,495) 59.2% Fire Services 11,734 8,880 8,880 7,200 (1,680) 81.1% Transit Fees 668,695 1,220,390 1,220,390 415,953 (804,437) 34.1% Culture & Recreation 267,221 696,126 696,126 259,198 (436,928) 37.2% Misc Charges For Services 57,336 61,234 61,234 41,511 (19,723) 67.8% Water Charges 9,937,678 9,851,600 9,851,600 4,766,008 (5,085,592) 48.4% Wastewater Charges 12,152,455 12,353,930 12,353,930 5,514,455 (6,839,475) 44.6% Refuse Charges 4,640,676 4,334,880 4,334,880 2,070,802 (2,264,078) 47.8% Landfill Charges 7,258,589 6,450,049 6,450,049 3,507,070 (2,942,979) 54.4% Storm Water Charges 1,700,792 1,730,060 1,730,060 762,496 (967,564) 44.1% Parking Charges 4,154,129 6,435,076 6,435,076 2,856,359 (3,578,717) 44.4% Subtotal 43,553,158 43,668,325 43,668,325 20,805,110 (22,863,215) 47.6% Miscellaneous: Code Enforcement 67,546 306,900 306,900 50,338 (256,562) 16.4% Parking Fines 505,391 488,220 488,220 199,726 (288,494) 40.9% Library Fines & Fees 4,328 50,000 50,000 1,732 (48,268) 3.5% Contributions & Donations 400,403 355,050 550,050 106,459 (443,591) 19.4% Printed Materials 20,871 38,175 38,175 10,622 (27,553) 27.8% Animal Adoption 49,080 45,000 45,000 35,300 (9,700) 78.4% Misc Merchandise 17,176 41,330 41,330 8,934 (32,396) 21.6% Intra-City Charges 5,025,342 5,812,165 5,812,165 2,795,049 (3,017,116) 48.1% Other Misc Revenue 938,489 824,129 824,129 311,783 (512,346) 37.8% Special Assessments 2,134 290 290 277 (13) 95.5% Subtotal 7,030,759$ 7,961,259$ 8,156,259$ 3,520,221$ (4,636,038)$ 43.2% City of Iowa City Revenues by Type Fiscal Year 2022 through December 31, 2021 5 2021 Actual 2022 Budget 2022 Revised 2022 Actual Variance Percent City of Iowa City Revenues by Type Fiscal Year 2022 through December 31, 2021 Use Of Money And Property: Interest Revenues 981,957$ 1,484,392$ 1,484,392$ 379,733$ (1,104,659)$ 25.6% Rents 1,084,618 1,264,564 1,264,564 717,675 (546,889) 56.8% Royalties & Commissions 120,765 108,354 108,354 59,017 (49,337) 54.5% Subtotal 2,187,340 2,857,310 2,857,310 1,156,425 (1,700,885) 40.5% Other Financial Sources: Debt Sales 12,744,378 12,150,000 12,150,000 - (12,150,000) 0.0% Sale Of Assets 616,257 521,242 1,059,742 212,060 (847,682) 20.0% Loans 612,124 339,583 339,583 470,442 130,859 138.5% Subtotal 13,972,759 13,010,825 13,549,325 682,502 (12,866,823) 5.0% Total Budgetary Revenues 185,257,550$ 180,192,383$ 194,493,541$ 81,858,889$ (112,634,652) 42.1% Non-Budgetary Fund Revenues Internal Service Funds 23,185,931$ 23,948,429$ 23,948,429$ 12,184,029$ (11,764,400)$ 50.9% Total Non-Budgetary Revenues 23,185,931$ 23,948,429$ 23,948,429$ 12,184,029$ (11,764,400)$ 50.9% Total Revenues - All Funds 208,443,481$ 204,140,812$ 218,441,970$ 94,042,918$ (124,399,053)$ 43.1% 6 2021 Actual 2022 Budget 2022 Revised 2022 Actual Variance Percent Budgetary Fund Expenditures General Fund 10** General Fund 55,608,874$ 63,527,010$ 67,402,066$ 30,726,081$ 36,675,985$ 45.6% Special Revenue Funds 2100 Community Dev Block Grant 1,253,229 798,093 1,093,741 285,575 808,166 26.1% 2110 HOME 281,357 522,164 951,785 37,357 914,428 3.9% 2200 Road Use Tax Fund 6,893,442 6,715,409 6,775,409 3,049,563 3,725,846 45.0% 2300 Other Shared Revenue 351,891 - 351,659 28,808 322,851 8.2% 2350 Metro Planning Org of Johnson Co.759,938 813,751 813,751 382,314 431,437 47.0% 2400 Employee Benefits 1,790,332 1,426,486 1,426,486 696,777 729,709 48.8% 2450 Emergency Levy Fund 147,787 946,142 1,082,204 139,494 942,710 12.9% 2500 Affordable Housing Fund 860,507 1,000,000 1,000,000 614,178 385,822 61.4% 2510 Peninsula Apartments 76,763 72,187 72,187 105,365 (33,178) 146.0% 26** Tax Increment Financing 984,345 2,489,511 2,489,511 563,314 1,926,197 22.6% 2820 SSMID-Downtown District 507,191 470,394 470,394 142,679 327,715 30.3% Debt Service Fund 5*** Debt Service 14,652,318 13,084,764 13,084,764 984,431 12,100,333 7.5% Enterprise Funds 710* Parking 3,359,425 3,876,340 3,883,285 1,768,856 2,114,429 45.6% 715* Mass Transit 6,858,026 12,222,896 12,278,896 3,724,797 8,554,100 30.3% 720* Wastewater 9,722,217 10,036,454 10,036,454 6,341,477 3,694,977 63.2% 730* Water 9,063,101 9,272,922 9,349,669 5,652,527 3,697,142 60.5% 7400 Refuse Collection 3,798,095 4,033,627 4,047,092 2,014,751 2,032,342 49.8% 750* Landfill 5,617,439 5,731,930 5,741,874 2,712,671 3,029,203 47.2% 7600 Airport 417,765 372,257 372,257 199,885 172,373 53.7% 7700 Storm Water 597,005 648,988 648,988 272,985 376,003 42.1% 79** Housing Authority 11,967,304 10,390,103 10,390,103 6,562,603 3,827,499 63.2% Capital Project Funds Governmental Projects 17,905,672 18,165,470 54,034,592 8,864,941 45,169,651 16.4% Enterprise Projects 5,316,333 6,638,000 20,868,380 2,784,901 18,083,479 13.3% Total Budgetary Expenditures 158,790,354$ 173,254,898$ 228,665,547$ 78,656,328$ 150,009,219$ 34.4% Non-Budgetary Funds Expenditures Internal Service Funds 810* Equipment 6,650,876$ 5,419,368$ 6,333,191$ 2,118,974$ 4,214,217$ 33.5% 8200 Risk Management 1,423,612 1,710,211 1,710,211 1,089,239 620,972 63.7% 830* Information Technology 2,620,181 2,559,874 2,692,385 1,447,749 1,244,636 53.8% 8400 Central Services 146,775 207,587 239,587 124,834 114,753 52.1% 8500 Health Insurance Reserves 10,550,091 11,078,100 11,078,100 5,102,156 5,975,944 46.1% 8600 Dental Insurance Reserves 347,747 398,636 398,636 169,354 229,282 42.5% Total Non-Budgetary Expenditures 21,739,282$ 21,373,776$ 22,452,110$ 10,052,307$ 12,399,803$ 44.8% Total Expenditures - All Funds 180,529,636$ 194,628,674$ 251,117,657$ 88,708,635$ 162,409,022$ 35.3% City of Iowa City Expenditures by Fund Fiscal Year 2022 through December 31, 2021 7 2021 Actual 2022 Budget 2022 Revised 2022 Actual Variance Percent Budgetary Funds Expenditures General Fund 10** General Fund City Council 148,836$ 152,427$ 152,427$ 84,737$ 67,690$ 55.6% City Clerk 530,843 625,557 625,557 281,603 343,953 45.0% City Attorney 823,919 871,284 871,284 404,389 466,895 46.4% City Manager 4,078,706 4,391,026 5,753,526 1,945,896 3,807,630 33.8% Finance 3,853,885 4,696,984 4,809,584 2,613,656 2,195,929 54.3% Police 14,471,307 16,146,156 16,356,466 7,089,584 9,266,882 43.3% Fire 8,899,332 9,194,319 9,194,319 4,606,600 4,587,720 50.1% Parks & Recreation 8,340,197 10,351,897 10,628,598 4,567,190 6,061,409 43.0% Library 6,083,482 7,104,248 7,129,720 3,389,678 3,740,042 47.5% Senior Center 927,263 1,059,527 1,075,527 475,021 600,506 44.2% Neighborhood & Development Services 4,274,656 5,147,115 7,018,588 3,567,920 3,450,668 50.8% Public Works 2,568,025 3,148,619 3,148,619 1,362,111 1,786,508 43.3% Transportation & Resource Management 608,423 637,850 637,850 337,697 300,153 52.9% Total General Fund 55,608,874 63,527,010 67,402,066 30,726,081 36,675,985 45.6% Special Revenue Funds 2100 Community Dev Block Grant Neighborhood & Development Services 1,253,229 798,093 1,093,741 285,575 808,166 26.1% 2110 HOME Neighborhood & Development Services 281,357 522,164 951,785 37,357 914,428 3.9% 2200 Road Use Tax Fund Public Works 6,893,442 6,715,409 6,775,409 3,049,563 3,725,846 45.0% 2300 Other Shared Revenue Neighborhood & Development Services 351,891 - 351,659 28,808 322,851 8.2% 2350 Metro Planning Org of Johnson Co Neighborhood & Development Services 759,938 813,751 813,751 382,314 431,437 47.0% 2400 Employee Benefits Finance 1,790,332 1,426,486 1,426,486 696,777 729,709 48.8% 2450 Emergency Levy Fund City Manager 147,787 946,142 1,082,204 139,494 942,710 12.9% 2500 Affordable Housing Fund Neighborhood & Development Services 860,507 1,000,000 1,000,000 614,178 385,822 61.4% 2510 Iowa City Property Management Neighborhood & Development Services 76,763 72,187 72,187 105,365 (33,178) 146.0% 26** Tax Increment Financing Finance 984,345 2,489,511 2,489,511 563,314 1,926,197 22.6% 2820 SSMID-Downtown District Finance 507,191 470,394 470,394 142,679 327,715 30.3% Total Special Revenue Funds 13,906,781 15,254,137 16,527,127 6,045,424 10,481,703 36.6% Debt Service Fund 5*** Debt Service Finance 14,652,318 13,084,764 13,084,764 984,431 12,100,333 7.5% Total Debt Service Fund 14,652,318 13,084,764 13,084,764 984,431 12,100,333 7.5% City of Iowa City Expenditures by Fund by Department Fiscal Year 2022 through December 31, 2021 8 2021 Actual 2022 Budget 2022 Revised 2022 Actual Variance Percent City of Iowa City Expenditures by Fund by Department Fiscal Year 2022 through December 31, 2021 Enterprise Funds 710* Parking Transportation & Resource Management 3,359,425$ 3,876,340$ 3,883,285$ 1,768,856$ 2,114,429$ 45.6% 715* Mass Transit Transportation & Resource Management 6,858,026 12,222,896 12,278,896 3,724,797 8,554,100 30.3% 720* Wastewater Public Works 9,722,217 10,036,454 10,036,454 6,341,477 3,694,977 63.2% 730* Water Public Works 9,063,101 9,272,922 9,349,669 5,652,527 3,697,142 60.5% 7400 Refuse Collection Transportation & Resource Management 3,798,095 4,033,627 4,047,092 2,014,751 2,032,342 49.8% 750* Landfill Transportation & Resource Management 5,617,439 5,731,930 5,741,874 2,712,671 3,029,203 47.2% 7600 Airport Airport Operations 417,765 372,257 372,257 199,885 172,373 53.7% 7700 Storm Water Public Works 597,005 648,988 648,988 272,985 376,003 42.1% 79** Housing Authority Neighborhood & Development Services 11,967,304 10,390,103 10,390,103 6,562,603 3,827,499 63.2% Total Enterprise Funds 51,400,377 56,585,517 56,748,618 29,250,551 27,498,068 51.5% Capital Project Funds Governmental Projects 17,905,672 18,165,470 54,034,592 8,864,941 45,169,651 16.4% Enterprise Projects 5,316,333 6,638,000 20,868,380 2,784,901 18,083,479 13.3% Total Capital Project Funds 23,222,004 24,803,470 74,902,972 11,649,842 63,253,130 15.6% Total Budgetary Expenditures 158,790,354$ 173,254,898$ 228,665,547$ 78,656,328$ 150,009,219$ 34.4% Non-Budgetary Funds Expenditures Internal Service Funds 810* Equipment Public Works 6,650,876$ 5,419,368$ 6,333,191$ 2,118,974$ 4,214,217$ 33.5% 8200 Risk Management Finance 1,423,612 1,710,211 1,710,211 1,089,239 620,972 63.7% 830* Information Technology Finance 2,620,181 2,559,874 2,692,385 1,447,749 1,244,636 53.8% 8400 Central Services Finance 146,775 207,587 239,587 124,834 114,753 52.1% 8500 Health Insurance Reserves Finance 10,550,091 11,078,100 11,078,100 5,102,156 5,975,944 46.1% 8600 Dental Insurance Reserves Finance 347,747 398,636 398,636 169,354 229,282 42.5% Total Internal Service Funds 21,739,282 21,373,776 22,452,110 10,052,307 12,399,803 44.8% Total Non-Budgetary Expenditures 21,739,282$ 21,373,776$ 22,452,110$ 10,052,307$ 12,399,803$ 44.8% Total Expenditures - All Funds 180,529,636$ 194,628,674$ 251,117,657$ 88,708,635$ 162,409,022$ 35.3% 9