HomeMy WebLinkAboutFY2023 1st Qtr Financial SummaryDate:
To:
From:
Re:
December 20, 2022
City Manager, City Council
Angie Ogden, Budget Management Analyst
Quarterly Financial Summary for Period Ending September 30, 2022
Introduction
Attached to this memorandum are the City’s quarterly financial reports as of September 30, 2022.
The quarterly financial report includes combined summaries of all fund balances, revenues, and
expenditures for fiscal year 2023 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, many of these percentages are below 25%.
For the property tax supported funds, such as the General fund, Debt Service fund, the Employee
Benefits fund, and the Emergency Levy Fund, their actual revenues are at 13.1%, 10.7%, 10.3%
and 10.6%, 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 22.7%, the
Wastewater fund is at 19.4%, and the Refuse Collection is at 19.4%. The Water and Wastewater
funds’ revenues are under the 25% benchmark due to the accrual of revenues back to last fiscal
year.
Other funds with budget anomalies worth noting: the CDBG and HOME funds has actual revenues
at 3.9% and 1.0%, respectively, due to the timing of receipt of federal monies. The Transit fund
has actual revenues at 15.6% due the timing of federal grant receipts. Additionally, the
Governmental Projects fund (page 4) has revenues at 3.2% due to the timing of grant receipts
related to projects as well as the timing of the Bond Issuance that does not take place until the
spring. The Enterprise Projects fund (page 4) has revenues at 1.1% due to the timing of the Bond
Issuance that does not take place until the spring.
The combined total actual revenues for all budgetary funds through September are $27,538,205
or 13.5% 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 reports, Expenditures by Fund and Expenditures by
Fund by Department on pages 7-9. The analysis of the City’s expenditures for fiscal year 2023
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 or below
the 25% mark. The following funds have a significant expenditure variance from 25%:
Affordable Housing fund is at 58.5% due to payments made to the Housing Trust Fund of
Johnson County.
Wastewater fund is at 39.8% due bond principal and interest payments paid in July.
Water fund is at 36.5% due to bond principal and interest payments paid in July.
Governmental Projects expenditures are at 9.6% and Enterprise Projects expenditures
are at 4.8% because many of the capital projects are scheduled for construction next
Spring.
Risk Management fund is at 51.6% due to the timing of insurance and liability entries.
Overall, the combined total actual expenditures for all budgetary funds through September are
$249,361,134 or 16.2% of budget. 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.
Two funds are presented (on page 3) with a negative fund balance, the CDBG fund at -$59,030
and the HOME fund at -$145,960. These negative fund balances should reverse following the
receipt of grant proceeds. Fund balances appear healthy. Additional information is available from
the Finance Department upon request.
2
Beginning Ending Restricted, Unassigned
Fund Year-to-Date Transfers Year-to-Date Transfers Fund Committed, Fund
Balance Revenues In Expenditures Out Balance Assigned Balance
Budgetary Funds
General Fund
10** General Fund 56,735,242$ 7,705,733$ 3,255,273$ 14,563,623$ 1,421,435$ 51,711,191$ 21,165,411$ 30,545,780$
Special Revenue Funds
2100 Community Dev Block Grant (14,936) 51,975 - 96,069 - (59,030) - (59,030)
2110 HOME 112,966 36,354 - 295,279 - (145,960) - (145,960)
2200 Road Use Tax Fund 5,087,054 1,944,581 161,381 1,567,315 795,124 4,830,577 - 4,830,577
2300 Other Shared Revenue 16,363,059 51,379 - 1,419,054 - 14,995,384 - 14,995,384
2350 Metro Planning Org of J.C. 534,206 24,988 100,486 171,207 - 488,474 - 488,474
2400 Employee Benefits 4,130,695 1,532,991 - 328,775 3,361,745 1,973,167 - 1,973,167
2450 Emergency Levy Fund 1,205,796 91,682 - 26,100 87,500 1,183,877 - 1,183,877
2500 Affordable Housing Fund 5,281,899 17,543 250,000 585,464 - 4,963,977 - 4,963,977
2510 Peninsula Apartments 233,030 63,551 - 21,841 - 274,741 - 274,741
26** Tax Increment Financing 811,156 201,764 - -- 1,012,920 959,892 53,028
2820 SSMID-Downtown District - 30,187 - -- 30,187 - 30,187
Debt Service Fund
5*** Debt Service 7,116,621 1,196,257 - 2,650 - 8,310,228 - 8,310,228
Enterprise Funds
710* Parking 1,589,509 1,551,378 250,000 1,037,359 468,263 1,885,265 125,000 1,760,265
715* Mass Transit 10,389,250 791,922 1,026,544 1,342,686 30,000 10,835,030 8,734,736 2,100,295
720* Wastewater 25,314,538 2,408,763 875,563 4,006,293 1,062,500 23,530,072 9,040,718 14,489,354
730* Water 13,440,452 2,480,203 904,732 3,503,139 904,244 12,418,005 5,454,138 6,963,867
7400 Refuse Collection 1,374,200 869,007 1,650 1,011,974 - 1,232,882 - 1,232,882
750* Landfill 11,006,174 2,039,408 140,567 1,312,181 - 11,873,968 8,700,034 3,173,934
7600 Airport 225,446 102,879 25,000 112,081 - 241,244 161,299 79,946
7700 Storm Water 1,062,799 328,082 275,311 129,324 335,000 1,201,867 479,000 722,867
79** Housing Authority 4,931,772 3,153,811 - 3,547,486 13,698 4,524,399 - 4,524,399
Capital Project Funds
Governmental Projects 32,070,726 655,016 810,500 5,410,707 - 28,125,535 - 28,125,535
Enterprise Projects 14,155,857 208,752 402,500 2,135,202 - 12,631,906 - 12,631,906
Total Budgetary Funds 213,157,511$ 27,538,205$ 8,479,507$ 42,625,810$ 8,479,507$ 198,069,905$ 54,820,227$ 143,249,678$
Non-Budgetary Funds
Internal Service Funds
810* Equipment 20,149,842$ 1,896,706$ -$ 1,492,714$ -$ 20,553,834$ 17,686,466$ 2,867,368$
8200 Risk Management 4,058,071 1,131,678 - 637,737 - 4,552,011 - 4,552,011
830* Information Technology 3,967,708 521,180 - 638,747 - 3,850,142 1,483,509 2,366,633
8400 Central Services 814,625 64,180 - 28,648 - 850,157 - 850,157
8500 Health Insurance Reserves 14,435,853 3,130,301 - 2,550,176 - 15,015,978 8,123,615 6,892,363
8600 Dental Insurance Reserves 469,246 108,167 - 91,278 - 486,135 - 486,135
Total Non-Budgetary Funds 43,895,345$ 6,852,212$ -$ 5,439,300$ -$ 45,308,257$ 27,293,590$ 18,014,667$
Total All Funds 257,052,856$ 34,390,416$ 8,479,507$ 48,065,111$ 8,479,507$ 243,378,162$ 82,113,817$ 161,264,345$
City of Iowa City
Fund Summary
Fiscal Year 2023 through Septemeber 30, 2022
3
2022
Actual
2023
Budget 2023 Revised
2023
Actual Variance Percent
Budgetary Fund Revenues
General Fund
10** General Fund 59,720,297$ 58,519,087$ 58,966,087$ 7,705,733$ (51,260,354)$ 13.1%
Special Revenue Funds
2100 Community Dev Block Grant 765,231 857,874 1,320,700 51,975 (1,268,725) 3.9%
2110 HOME 290,694 604,164 3,474,825 36,354 (3,438,471) 1.0%
2200 Road Use Tax Fund 10,091,246 9,531,340 9,531,340 1,944,581 (7,586,759) 20.4%
2300 Other Shared Revenue 9,958,207 - 130,863 51,379 (79,484) 39.3%
2350 Metro Planning Org of Johnson Co 464,833 392,528 392,528 24,988 (367,540) 6.4%
2400 Employee Benefits 14,891,999 14,822,685 14,822,685 1,532,991 (13,289,694) 10.3%
2450 Emergency Levy Fund 1,042,548 867,503 867,503 91,682 (775,821) 10.6%
2500 Affordable Housing Fund 3,076,974 - - 17,543 17,543 0.0%
2510 Iowa City Property Management 243,332 239,323 239,323 63,551 (175,772) 26.6%
26** Tax Increment Financing 4,061,053 4,113,733 4,113,733 201,764 (3,911,969) 4.9%
2820 SSMID-Downtown District 467,815 556,031 556,031 30,187 (525,844) 5.4%
Debt Service Fund
5*** Debt Service 11,229,149 11,136,858 11,136,858 1,196,257 (9,940,601) 10.7%
Enterprise Funds
710* Parking 3,033,875 5,867,389 5,867,389 1,551,378 (4,316,011) 26.4%
715* Mass Transit 10,305,009 5,091,857 5,091,857 791,922 (4,299,935) 15.6%
720* Wastewater 9,677,752 12,411,110 12,411,110 2,408,763 (10,002,347) 19.4%
730* Water 9,498,280 10,926,637 10,933,086 2,480,203 (8,452,883) 22.7%
7400 Refuse Collection 3,992,002 4,474,772 4,474,772 869,007 (3,605,766) 19.4%
750* Landfill 6,847,413 7,222,531 7,222,531 2,039,408 (5,183,123) 28.2%
7600 Airport 387,012 385,410 385,410 102,879 (282,531) 26.7%
7700 Storm Water 97,678 1,715,290 1,715,290 328,082 (1,387,208) 19.1%
79** Housing Authority 12,097,434 10,905,608 10,905,608 3,153,811 (7,751,797) 28.9%
Capital Project Funds
Governmental Projects 16,093,861 13,160,000 20,647,073 655,016 (19,992,057) 3.2%
Enterprise Projects 9,642,453 18,028,525 19,042,429 208,752 (18,833,677) 1.1%
Total Budgetary Revenues 197,976,145$ 191,830,255$ 204,249,031$ 27,538,205$ (176,710,826)$ 13.5%
Non-Budgetary Fund Revenues
Internal Service Funds
810* Equipment 7,585,052$ 8,101,268$ 8,101,268$ 1,896,706$ (6,204,562)$ 23.4%
8200 Risk Management 1,272,674 1,080,610 1,080,610 1,131,677.50 51,068 104.7%
830* Information Technology 3,142,692 3,035,343 3,035,343 521,180.23 (2,514,163) 17.2%
8400 Central Services 236,594 208,803 208,803 64,179.68 (144,623) 30.7%
8500 Health Insurance Reserves 11,465,512 12,135,173 12,135,173 3,130,301.30 (9,004,872) 25.8%
8600 Dental Insurance Reserves 402,133 396,689 396,689 108,167.21 (288,522) 27.3%
Total Non-Budgetary Revenues 24,104,658$ 24,957,886$ 24,957,886$ 6,852,212$ (18,105,674)$ 27.5%
Total Revenues - All Funds 222,080,803$ 216,788,141$ 229,206,917$ 34,390,416$ (194,816,501)$ 15.0%
City of Iowa City
Revenues by Fund
Fiscal Year 2023 through Septemeber 30, 2022
4
2022
Actual
2023
Budget 2023 Revised
2023
Actual Variance Percent
Budgetary Fund Revenues
Property Taxes 66,604,726$ 66,474,472$ 66,474,472$ 7,198,981$ (59,275,491)$ 10.8%
Other City Taxes:
TIF Revenues 4,016,096 4,113,733 4,113,733 201,202 (3,912,531) 4.9%
Gas/Electric Excise Taxes 684,491 688,134 688,134 22 (688,112) 0.0%
Mobile Home Taxes 56,796 62,999 62,999 14,913 (48,086) 23.7%
Hotel/Motel Taxes 1,708,182 1,134,862 1,134,862 - (1,134,862) 0.0%
Utility Franchise Tax 1,148,998 993,850 993,850 2,605 (991,245) 0.3%
Subtotal 7,614,563 6,993,578 6,993,578 218,742 (6,774,836) 3.1%
Licenses, Permits, & Fees:
General Use Permits 101,740 65,920 65,920 1,280 (64,640) 1.9%
Food & Liquor Licenses 181,740 94,510 94,510 21,588 (72,923) 22.8%
Professional License 2,755 3,760 3,760 330 (3,430) 8.8%
Franchise Fees 540,221 582,920 582,920 167 (582,753) 0.0%
Construction Permits & Insp Fees 1,899,487 1,783,010 1,783,010 391,828 (1,391,182) 22.0%
Misc Lic & Permits 72,071 62,930 62,930 16,244 (46,686) 25.8%
Subtotal 2,798,014 2,593,050 2,593,050 431,436 (2,161,614) 16.6%
Intergovernmental:
Fed Intergovernmental Revenue 34,765,406 16,572,899 25,786,694 3,307,315 (22,479,379) 12.8%
Property Tax Credits 1,554,618 1,249,633 1,249,633 - (1,249,633) 0.0%
Road Use Tax 9,900,316 9,390,000 9,390,000 1,936,948 (7,453,052) 20.6%
State 28E Agreements 2,093,406 2,512,490 2,512,490 - (2,512,490) 0.0%
Operating Grants 58,765 61,850 61,850 - (61,850) 0.0%
Disaster Assistance 57,835 - - 0 0 0.0%
Other State Grants 1,951,997 1,216,505 2,821,055 726,084 (2,094,971) 25.7%
Local 28E Agreements 1,399,853 1,344,169 2,255,968 350,703 (1,905,265) 15.5%
Subtotal 51,782,195 32,347,546 44,077,690 6,321,051 (37,756,639) 14.3%
Charges For Fees And Services:
Building & Development 4,128,695 455,270 455,270 135,535 (319,735) 29.8%
Police Services 51,726 75,000 75,000 26,476 (48,524) 35.3%
Animal Care Services 19,403 11,740 11,740 3,265 (8,475) 27.8%
Fire Services 11,820 11,070 11,070 1,080 (9,990) 9.8%
Transit Fees 919,435 1,409,590 1,409,590 238,102 (1,171,488) 16.9%
Culture & Recreation 571,135 705,255 705,255 171,087 (534,168) 24.3%
Misc Charges For Services 66,099 62,202 62,202 14,396 (47,806) 23.1%
Water Charges 10,128,971 9,991,670 9,991,670 2,237,074 (7,754,596) 22.4%
Wastewater Charges 12,117,702 12,152,450 12,152,450 2,336,535 (9,815,915) 19.2%
Refuse Charges 4,580,213 4,910,372 4,910,372 1,089,740 (3,820,632) 22.2%
Landfill Charges 6,663,449 6,448,175 6,448,175 1,687,582 (4,760,593) 26.2%
Storm Water Charges 1,704,329 1,700,790 1,700,790 323,594 (1,377,196) 19.0%
Parking Charges 5,382,494 6,343,059 6,343,059 1,719,629 (4,623,430) 27.1%
Subtotal 46,345,472 44,276,643 44,276,643 9,984,095 (34,292,548) 22.5%
Miscellaneous:
Code Enforcement 124,454 289,130 289,130 30,348 (258,782) 10.5%
Parking Fines 673,707 490,000 490,000 55,842 (434,158) 11.4%
Library Fines & Fees 2,941 - - 394 394 #DIV/0!
Contributions & Donations 357,339 360,810 602,442 102,703 (499,739) 17.0%
Printed Materials 23,060 22,000 22,000 5,103 (16,897) 23.2%
Animal Adoption 57,840 45,000 45,000 17,725 (27,275) 39.4%
Misc Merchandise 21,637 36,310 36,310 1,624 (34,686) 4.5%
Intra-City Charges 5,639,376 6,016,011 6,016,011 1,593,788 (4,422,223) 26.5%
Other Misc Revenue 1,622,189 748,854 748,854 141,814 (607,040) 18.9%
Special Assessments 1,381 1,000 1,000 243 (757) 24.3%
Subtotal 8,523,922$ 8,009,115$ 8,250,747$ 1,949,584$ (6,301,163)$ 23.6%
City of Iowa City
Revenues by Type
Fiscal Year 2023 through Septemeber 30, 2022
5
2022
Actual
2023
Budget 2023 Revised
2023
Actual Variance Percent
City of Iowa City
Revenues by Type
Fiscal Year 2023 through Septemeber 30, 2022
Use Of Money And Property:
Interest Revenues 838,095$ 1,134,991$ 1,134,991$ 663,301$ (471,690)$ 58.4%
Rents 1,429,834 1,463,605 1,463,605 363,835 (1,099,770) 24.9%
Royalties & Commissions 147,441 146,592 146,592 28,646 (117,946) 19.5%
Subtotal 2,415,370 2,745,188 2,745,188 1,055,782 (1,689,406) 38.5%
Other Financial Sources:
Debt Sales 10,790,326 27,756,000 27,756,000 - (27,756,000) 0.0%
Sale Of Assets 413,157 328,168 775,168 274,464 (500,704) 35.4%
Loans 688,401 306,495 306,495 104,069 (202,426) 34.0%
Subtotal 11,891,883 28,390,663 28,837,663 378,533 (28,459,130) 1.3%
Total Budgetary Revenues 197,976,145$ 191,830,255$ 204,249,031$ 27,538,205$ (176,710,826) 13.5%
Non-Budgetary Fund Revenues
Internal Service Funds 24,104,658$ 24,957,886$ 24,957,886$ 6,852,212$ (18,105,674)$ 27.5%
Total Non-Budgetary Revenues 24,104,658$ 24,957,886$ 24,957,886$ 6,852,212$ (18,105,674)$ 27.5%
Total Revenues - All Funds 222,080,803$ 216,788,141$ 229,206,917$ 34,390,417$ (194,816,500)$ 15.0%
6
2022
Actual
2023
Budget
2023
Revised
2023
Actual Variance Percent
Budgetary Fund Expenditures
General Fund
10** General Fund 60,833,635$ 64,980,913$ 67,399,500$ 14,563,623$ 52,835,877$ 21.6%
Special Revenue Funds
2100 Community Dev Block Grant 706,002 805,974 1,190,352 96,069 1,094,283 8.1%
2110 HOME 182,162 475,170 3,345,831 295,279 3,050,552 8.8%
2200 Road Use Tax Fund 6,647,987 7,279,259 7,301,259 1,567,315 5,733,944 21.5%
2300 Other Shared Revenue 1,732,345 - 17,307,565 1,419,054 15,888,511 8.2%
2350 Metro Planning Org of Johnson Co. 759,804 845,692 845,692 171,207 674,485 20.2%
2400 Employee Benefits 1,302,276 1,394,767 1,394,767 328,775 1,065,992 23.6%
2450 Emergency Levy Fund 280,977 518,692 546,171 26,100 520,071 4.8%
2500 Affordable Housing Fund 873,449 1,000,000 1,000,000 585,464 414,536 58.5%
2510 Iowa City Property Management 204,873 223,656 223,656 21,841 201,815 9.8%
26** Tax Increment Financing 3,051,238 2,285,191 3,245,083 - 3,245,083 0.0%
2820 SSMID-Downtown District 467,815 556,031 556,031 - 556,031 0.0%
Debt Service Fund
5*** Debt Service 13,185,763 12,952,813 12,952,813 2,650 12,950,163 0.0%
Enterprise Funds
710* Parking 4,138,165 4,097,573 4,107,573 1,037,359 3,070,214 25.3%
715* Mass Transit 12,558,148 8,490,957 8,565,515 1,342,686 7,222,829 15.7%
720* Wastewater 9,911,472 9,975,902 10,062,912 4,006,293 6,056,619 39.8%
730* Water 9,144,432 9,408,244 9,585,693 3,503,139 6,082,554 36.5%
7400 Refuse Collection 4,001,720 4,600,848 4,600,848 1,011,974 3,588,874 22.0%
750* Landfill 5,495,623 5,783,431 5,783,431 1,312,181 4,471,250 22.7%
7600 Airport 425,107 385,060 385,060 112,081 272,979 29.1%
7700 Storm Water 561,273 682,768 682,768 129,324 553,444 18.9%
79** Housing Authority 11,745,588 10,500,330 10,500,330 3,547,486 6,952,844 33.8%
Capital Project Funds
Governmental Projects 19,678,277 19,765,470 56,474,948 5,410,707 51,064,241 9.6%
Enterprise Projects 7,241,237 27,590,750 44,487,763 2,135,202 42,352,561 4.8%
Total Budgetary Expenditures 175,129,366$ 194,599,491$ 272,545,561$ 42,625,810$ 229,919,751$ 15.6%
Non-Budgetary Funds Expenditures
Internal Service Funds
810* Equipment 4,639,406$ 6,119,417$ 8,132,324$ 1,492,714$ 6,639,610$ 18.4%
8200 Risk Management 1,528,964 1,236,062 1,236,062 637,737 598,325 51.6%
830* Information Technology 2,645,066 2,591,813 2,778,831 638,747 2,140,084 23.0%
8400 Central Services 220,080 211,987 227,273 28,648 198,625 12.6%
8500 Health Insurance Reserves 9,339,230 12,123,673 12,123,673 2,550,176 9,573,497 21.0%
8600 Dental Insurance Reserves 356,454 382,521 382,521 91,278 291,243 23.9%
Total Non-Budgetary Expenditures 18,729,201$ 22,665,473$ 24,880,684$ 5,439,300$ 19,441,384$ 21.9%
Total Expenditures - All Funds 193,858,567$ 217,264,964$ 297,426,245$ 48,065,111$ 249,361,134$ 16.2%
City of Iowa City
Expenditures by Fund
Fiscal Year 2023 through Septemeber 30, 2022
7
2022
Actual
2023
Budget
2023
Revised
2023
Actual Variance Percent
Budgetary Funds Expenditures
General Fund
10** General Fund
City Council 158,711$ 168,774$ 168,774$ 47,872$ 120,902$ 28.4%
City Clerk 560,078 632,229 632,229 124,049 508,180 19.6%
City Attorney 850,566 868,194 868,194 194,445 673,749 22.4%
City Manager 4,213,343 4,654,388 5,776,948 1,048,772 4,728,176 18.2%
Finance 4,075,617 5,028,909 5,206,909 1,693,385 3,513,524 32.5%
Police 14,867,148 16,391,387 16,689,576 3,429,833 13,259,743 20.6%
Fire 9,112,628 9,587,713 9,627,196 2,120,721 7,506,475 22.0%
Parks & Recreation 9,670,687 10,433,377 10,893,158 2,302,883 8,590,275 21.1%
Library 6,934,581 7,325,426 7,325,426 1,595,652 5,729,774 21.8%
Senior Center 1,032,310 1,082,805 1,092,805 227,007 865,798 20.8%
Neighborhood & Development Services 5,858,970 4,915,066 5,225,640 992,329 4,233,311 19.0%
Public Works 2,845,050 3,200,355 3,200,355 651,055 2,549,300 20.3%
Transportation & Resource Management 653,947 692,290 692,290 135,620 556,670 19.6%
Total General Fund 60,833,635 64,980,913 67,399,500 14,563,623 52,835,877 21.6%
Special Revenue Funds
2100 Community Dev Block Grant
Neighborhood & Development Services 706,002 805,974 1,190,352 96,069 1,094,283 8.1%
2110 HOME
Neighborhood & Development Services 182,162 475,170 3,345,831 295,279 3,050,552 8.8%
2200 Road Use Tax Fund
Public Works 6,647,987 7,279,259 7,301,259 1,567,315 5,733,944 21.5%
2300 Other Shared Revenue
Neighborhood & Development Services 1,732,345 - 17,307,565 1,419,054 15,888,511 8.2%
2350 Metro Planning Org of Johnson Co
Neighborhood & Development Services 759,804 845,692 845,692 171,207 674,485 20.2%
2400 Employee Benefits
Finance 1,302,276 1,394,767 1,394,767 328,775 1,065,992 23.6%
2450 Emergency Levy Fund
City Manager 280,977 518,692 546,171 26,100 520,071 4.8%
2500 Affordable Housing Fund
Neighborhood & Development Services 873,449 1,000,000 1,000,000 585,464 414,536 58.5%
2510 Iowa City Property Management
Neighborhood & Development Services 204,873 223,656 223,656 21,841 201,815 9.8%
26** Tax Increment Financing
Finance 3,051,238 2,285,191 3,245,083 - 3,245,083 0.0%
2820 SSMID-Downtown District
Finance 467,815 556,031 556,031 - 556,031 0.0%
Total Special Revenue Funds 16,208,927 15,384,432 36,956,407 4,511,105 32,445,302 12.2%
Debt Service Fund
5*** Debt Service
Finance 13,185,763 12,952,813 12,952,813 2,650 12,950,163 0.0%
Total Debt Service Fund 13,185,763 12,952,813 12,952,813 2,650 12,950,163 0.0%
City of Iowa City
Expenditures by Fund by Department
Fiscal Year 2023 through Septemeber 30, 2022
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2022
Actual
2023
Budget
2023
Revised
2023
Actual Variance Percent
City of Iowa City
Expenditures by Fund by Department
Fiscal Year 2023 through Septemeber 30, 2022
Enterprise Funds
710* Parking
Transportation & Resource Management 4,138,165$ 4,097,573$ 4,107,573$ 1,037,359$ 3,070,214$ 25.3%
715* Mass Transit
Transportation & Resource Management 12,558,148 8,490,957 8,565,515 1,342,686 7,222,829 15.7%
720* Wastewater
Public Works 9,911,472 9,975,902 10,062,912 4,006,293 6,056,619 39.8%
730* Water
Public Works 9,144,432 9,408,244 9,585,693 3,503,139 6,082,554 36.5%
7400 Refuse Collection
Transportation & Resource Management 4,001,720 4,600,848 4,600,848 1,011,974 3,588,874 22.0%
750* Landfill
Transportation & Resource Management 5,495,623 5,783,431 5,783,431 1,312,181 4,471,250 22.7%
7600 Airport
Airport Operations 425,107 385,060 385,060 112,081 272,979 29.1%
7700 Storm Water
Public Works 561,273 682,768 682,768 129,324 553,444 18.9%
79** Housing Authority
Neighborhood & Development Services 11,745,588 10,500,330 10,500,330 3,547,486 6,952,844 33.8%
Total Enterprise Funds 57,981,527 53,925,113 54,274,130 16,002,523 38,271,607 29.5%
Capital Project Funds
Governmental Projects 19,678,277 19,765,470 56,474,948 5,410,707 51,064,241 9.6%
Enterprise Projects 7,241,237 27,590,750 44,487,763 2,135,202 42,352,561 4.8%
Total Capital Project Funds 26,919,514 47,356,220 100,962,711 7,545,909 93,416,802 7.5%
Total Budgetary Expenditures 175,129,366$ 194,599,491$ 272,545,561$ 42,625,810$ 229,919,751$ 15.6%
Non-Budgetary Funds Expenditures
Internal Service Funds
810* Equipment
Public Works 4,639,406$ 6,119,417$ 8,132,324$ 1,492,714$ 6,639,610$ 18.4%
8200 Risk Management
Finance 1,528,964 1,236,062 1,236,062 637,737 598,325 51.6%
830* Information Technology
Finance 2,645,066 2,591,813 2,778,831 638,747 2,140,084 23.0%
8400 Central Services
Finance 220,080 211,987 227,273 28,648 198,625 12.6%
8500 Health Insurance Reserves
Finance 9,339,230 12,123,673 12,123,673 2,550,176 9,573,497 21.0%
8600 Dental Insurance Reserves
Finance 356,454 382,521 382,521 91,278 291,243 23.9%
Total Internal Service Funds 18,729,201 22,665,473 24,880,684 5,439,300 19,441,384 21.9%
Total Non-Budgetary Expenditures 18,729,201$ 22,665,473$ 24,880,684$ 5,439,300$ 19,441,384$ 21.9%
Total Expenditures - All Funds 193,858,567$ 217,264,964$ 297,426,245$ 48,065,111$ 249,361,134$ 16.2%
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