HomeMy WebLinkAboutFY2023 2nd Qtr Financial SummaryDate: February 24, 2023
To: City Manager, City Council
From: Angie Ogden, Budget Management Analyst
Re: Quarterly Financial Summary for Period Ending December 31, 2022
Introduction
Attached to this memorandum are the City’s quarterly financial reports as of December 31, 2022.
The quarterly financial reports include combined summaries of all fund balances, revenues, and
expenditures for fiscal year 2023 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:
CDBG fund has actual revenues at 15.6% and HOME 8.5% due to timing of grant receipts.
Transit fund has actual revenues at 29.2% due to the timing of receipt for the federal
operating grant.
Risk Management fund has actual revenues at 113.3% due to the entries made for loss
reserve payments to intra-city charges.
Governmental Projects fund has revenues of 13.2% and Enterprise Projects fund has
revenues of 3.2% due to 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 34.3% 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 27.4%,
State 28E Agreements at 87.6%, Operating Grants at 115%, Other State Grants at 38% and Local
28E Agreements at 34.0%.
Additionally, other revenues above or below 50% of budget include:
Food & Liquor Licenses revenues at 63.2% of budget due to higher-than-expected
receipts.
Interest Revenues at 177.6% due to higher interest allocations then expected.
Sale of Assets at 221.4% due to the partial sale at Taft Ave.
Code Enforcement revenues at 25.3% due to a decline in patrol and animal services
enforcement.
Library fines are N/A due to the Library not charging late fees.
1
The combined total actual revenues for all budgetary funds through December are $97,252,927
or 42.4% 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 2023 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 9.9% due to the timing of projects.
Tax Increment Financing funds are at 30.4% due to the timing of rebate payments.
Debt Service Fund expenditures are at 8.0%, because the general obligation bond
principal payments are not due until June 1.
Wastewater fund is at 59.3% due to bond principal and interest payments paid in July.
Water fund is at 57.1% due to bond principal and interest payments paid in July.
Housing Authority fund is at 62.7% due to an increase in landlord rents.
Governmental Projects expenditures are at 22.6% and Enterprise Projects expenditures
are at 11.1% because many of the capital projects are scheduled for construction this
spring.
Equipment fund is at 38.7% due to the timing of equipment purchases and replacements.
Overall, the combined total actual expenditures for all budgetary funds through December are
$98,570,153 or 33.1% 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.
There are a few funds presented (on page 3) with a negative fund balance, CDBG fund at
-$79,537 and HOME at -$124,317. These negative fund balances should reverse following the
receipt of grant proceeds. The other fund balances appear healthy. Additional information is
available from the Finance Department upon request.
2
Beginning Ending Restricted, Unassigned
Fund Year-to-Date Transfers Year-to-Date Transfers Fund Committed, Fund
Balance Revenues In Expenditures Out Balance Assigned Balance
Budgetary Funds
General Fund
10** General Fund 56,735,242$ 30,788,338$ 6,510,547$ 30,847,702$ 2,845,608$ 60,340,817$ 21,177,500$ 39,163,317$
Special Revenue Funds
2100 Community Dev Block Grant (14,936) 206,514 - 268,115 3,000 (79,537) - (79,537)
2110 HOME 112,966 294,859 - 532,142 - (124,317) - (124,317)
2200 Road Use Tax Fund 5,087,054 4,584,118 322,762 3,352,380 1,590,248 5,051,306 - 5,051,306
2300 Other Shared Revenue 16,363,059 204,824 2,662 1,706,118 - 14,864,426 - 14,864,426
2350 Metro Planning Org of J.C.534,206 124,298 200,972 366,680 - 492,795 - 492,795
2400 Employee Benefits 4,130,695 7,766,086 - 761,540 6,723,489 4,411,752 - 4,411,752
2450 Emergency Levy Fund 1,205,796 444,206 - 145,325 175,000 1,329,677 - 1,329,677
2500 Affordable Housing Fund 5,281,899 51,375 500,000 649,432 - 5,183,841 - 5,183,841
2510 Peninsula Apartments 233,030 132,113 - 64,011 - 301,133 - 301,133
26** Tax Increment Financing 811,156 2,011,912 - 986,642 - 1,836,426 - 1,836,426
2820 SSMID-Downtown District - 249,182 - 193,216 - 55,966 - 55,966
Debt Service Fund
5*** Debt Service 7,116,621 5,805,839 - 1,039,310 - 11,883,150 - 11,883,150
Enterprise Funds
710* Parking 1,893,211 2,804,653 500,000 1,956,074 936,525 2,305,265 553,702 1,751,563
715* Mass Transit 10,389,250 1,487,433 2,053,088 3,532,903 60,000 10,336,869 8,733,676 1,603,193
720* Wastewater 25,314,538 5,669,711 1,751,141 5,971,384 2,125,000 24,639,006 9,744,265 14,894,741
730* Water 13,440,452 5,419,922 1,809,477 5,472,726 1,808,487 13,388,638 6,326,267 7,062,370
7400 Refuse Collection 1,374,200 2,024,470 3,341 2,034,480 - 1,367,532 - 1,367,532
750* Landfill 26,541,740 3,879,229 547,950 2,643,810 266,816 28,058,293 24,706,316 3,351,977
7600 Airport 325,446 195,021 50,000 214,910 - 355,558 186,299 169,259
7700 Storm Water 1,062,799 770,417 550,630 316,953 670,000 1,396,892 694,000 702,892
79** Housing Authority 6,225,607 6,115,703 - 6,585,348 27,396 5,728,567 1,309,622 4,418,945
Capital Project Funds
Governmental Projects 32,070,726 2,725,966 1,624,000 12,780,898 - 23,639,794 - 23,639,794
Enterprise Projects 14,155,857 614,239 805,000 4,925,349 - 10,649,747 - 10,649,747
Total Budgetary Funds 230,390,613$ 84,370,427$ 17,231,569$ 87,347,444$ 17,231,569$ 227,413,596$ 73,431,647$ 153,981,949$
Non-Budgetary Funds
Internal Service Funds
810* Equipment 20,149,842$ 3,956,847$ -$ 3,151,061$ -$ 20,955,628$ 18,096,462$ 2,859,166$
8200 Risk Management 4,058,071 1,224,218 - 839,613 - 4,442,675 - 4,442,675
830* Information Technology 3,967,708 1,079,318 - 1,547,396 - 3,499,629 1,558,565 1,941,064
8400 Central Services 814,625 128,792 - 91,470 - 851,947 - 851,947
8500 Health Insurance Reserves 14,435,853 6,275,231 - 5,414,791 - 15,296,293 8,123,615 7,172,678
8600 Dental Insurance Reserves 469,246 218,094 - 178,378 - 508,963 - 508,963
Total Non-Budgetary Funds 43,895,345$ 12,882,500$ -$ 11,222,709$ -$ 45,555,136$ 27,778,642$ 17,776,494$
Total All Funds 274,285,958$ 97,252,927$ 17,231,569$ 98,570,153$ 17,231,569$ 272,968,732$ 101,210,289$ 171,758,443$
City of Iowa City
Fund Summary
Fiscal Year 2023 through December 31, 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$ 30,788,338$ (28,177,749)$ 52.2%
Special Revenue Funds
2100 Community Dev Block Grant 765,231 857,874 1,320,700 206,514 (1,114,186) 15.6%
2110 HOME 290,694 604,164 3,474,825 294,859 (3,179,966) 8.5%
2200 Road Use Tax Fund 10,091,246 9,531,340 9,531,340 4,584,118 (4,947,222) 48.1%
2300 Other Shared Revenue 9,958,207 - 130,863 204,824 73,961 156.5%
2350 Metro Planning Org of Johnson Co 464,833 392,528 392,528 124,298 (268,230) 31.7%
2400 Employee Benefits 14,891,999 14,822,685 14,822,685 7,766,086 (7,056,599) 52.4%
2450 Emergency Levy Fund 1,042,548 867,503 867,503 444,206 (423,297) 51.2%
2500 Affordable Housing Fund 3,076,974 - - 51,375 51,375 0.0%
2510 Iowa City Property Management 243,332 239,323 239,323 132,113 (107,210) 55.2%
26** Tax Increment Financing 4,061,053 4,113,733 4,113,733 2,011,912 (2,101,821) 48.9%
2820 SSMID-Downtown District 467,815 556,031 556,031 249,182 (306,849) 44.8%
Debt Service Fund
5*** Debt Service 11,229,149 11,136,858 11,136,858 5,805,839 (5,331,019) 52.1%
Enterprise Funds
710* Parking 3,033,875 5,867,389 5,867,389 2,804,653 (3,062,736) 47.8%
715* Mass Transit 10,305,009 5,091,857 5,091,857 1,487,433 (3,604,424) 29.2%
720* Wastewater 9,677,752 12,411,110 12,411,110 5,669,711 (6,741,399) 45.7%
730* Water 9,498,280 10,926,637 10,933,086 5,419,922 (5,513,164) 49.6%
7400 Refuse Collection 3,992,002 4,474,772 4,474,772 2,024,470 (2,450,302) 45.2%
750* Landfill 6,847,413 7,222,531 7,222,531 3,879,229 (3,343,302) 53.7%
7600 Airport 387,012 385,410 385,410 195,021 (190,389) 50.6%
7700 Storm Water 97,678 1,715,290 1,715,290 770,417 (944,873) 44.9%
79** Housing Authority 12,097,434 10,905,608 10,905,608 6,115,703 (4,789,905) 56.1%
Capital Project Funds
Governmental Projects 16,093,861 13,160,000 20,647,073 2,725,966 (17,921,107) 13.2%
Enterprise Projects 9,642,453 18,028,525 19,042,429 614,239 (18,428,190) 3.2%
Total Budgetary Revenues 197,976,145$ 191,830,255$ 204,249,031$ 84,370,427$ (119,878,604)$ 41.3%
Non-Budgetary Fund Revenues
Internal Service Funds
810* Equipment 7,585,052$ 8,101,268$ 8,101,268$ 3,956,847$ (4,144,421)$ 48.8%
8200 Risk Management 1,272,674 1,080,610 1,080,610 1,224,217.59 143,608 113.3%
830* Information Technology 3,142,692 3,035,343 3,035,343 1,079,317.52 (1,956,025) 35.6%
8400 Central Services 236,594 208,803 208,803 128,792.33 (80,011) 61.7%
8500 Health Insurance Reserves 11,465,512 12,135,173 12,135,173 6,275,230.75 (5,859,942) 51.7%
8600 Dental Insurance Reserves 402,133 396,689 396,689 218,094.41 (178,595) 55.0%
Total Non-Budgetary Revenues 24,104,658$ 24,957,886$ 24,957,886$ 12,882,500$ (12,075,386)$ 51.6%
Total Revenues - All Funds 222,080,803$ 216,788,141$ 229,206,917$ 97,252,927$ (131,953,990)$ 42.4%
City of Iowa City
Revenues by Fund
Fiscal Year 2023 through December 31, 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$ 34,074,119$ (32,400,353)$ 51.3%
Other City Taxes:
TIF Revenues 4,016,096 4,113,733 4,113,733 1,997,789 (2,115,944) 48.6%
Gas/Electric Excise Taxes 684,491 688,134 688,134 409,377 (278,757) 59.5%
Mobile Home Taxes 56,796 62,999 62,999 34,429 (28,570) 54.7%
Hotel/Motel Taxes 1,708,182 1,134,862 1,134,862 677,621 (457,241) 59.7%
Utility Franchise Tax 1,148,998 993,850 993,850 340,920 (652,930) 34.3%
Subtotal 7,614,563 6,993,578 6,993,578 3,460,136 (3,533,442) 49.5%
Licenses, Permits, & Fees:
General Use Permits 101,740 65,920 65,920 5,245 (60,675) 8.0%
Food & Liquor Licenses 181,740 94,510 94,510 59,752 (34,758) 63.2%
Professional License 2,755 3,760 3,760 930 (2,830) 24.7%
Franchise Fees 540,221 582,920 582,920 132,297 (450,623) 22.7%
Construction Permits & Insp Fees 1,899,487 1,783,010 1,783,010 762,366 (1,020,644) 42.8%
Misc Lic & Permits 72,071 62,930 62,930 27,811 (35,119) 44.2%
Subtotal 2,798,014 2,593,050 2,593,050 988,401 (1,604,649) 38.1%
Intergovernmental:
Fed Intergovernmental Revenue 34,765,406 16,572,899 25,786,694 7,065,228 (18,721,466) 27.4%
Property Tax Credits 1,554,618 1,249,633 1,249,633 621,847 (627,786) 49.8%
Road Use Tax 9,900,316 9,390,000 9,390,000 4,490,074 (4,899,926) 47.8%
State 28E Agreements 2,093,406 2,512,490 2,512,490 2,200,799 (311,691) 87.6%
Operating Grants 58,765 61,850 61,850 71,122 9,272 115.0%
Disaster Assistance 57,835 - - 2,069 2,069 0.0%
Other State Grants 1,951,997 1,216,505 2,821,055 1,071,351 (1,749,704) 38.0%
Local 28E Agreements 1,399,853 1,344,169 2,255,968 767,706 (1,488,262) 34.0%
Subtotal 51,782,195 32,347,546 44,077,690 16,290,196 (27,787,494) 37.0%
Charges For Fees And Services:
Building & Development 4,128,695 455,270 455,270 293,411 (161,859) 64.4%
Police Services 51,726 75,000 75,000 70,340 (4,660) 93.8%
Animal Care Services 19,403 11,740 11,740 6,701 (5,039) 57.1%
Fire Services 11,820 11,070 11,070 5,460 (5,610) 49.3%
Transit Fees 919,435 1,409,590 1,409,590 500,706 (908,884) 35.5%
Culture & Recreation 571,135 705,255 705,255 289,353 (415,902) 41.0%
Misc Charges For Services 66,099 62,202 62,202 29,550 (32,652) 47.5%
Water Charges 10,128,971 9,991,670 9,991,670 4,846,662 (5,145,008) 48.5%
Wastewater Charges 12,117,702 12,152,450 12,152,450 5,473,854 (6,678,596) 45.0%
Refuse Charges 4,580,213 4,910,372 4,910,372 2,361,865 (2,548,507) 48.1%
Landfill Charges 6,663,449 6,448,175 6,448,175 3,218,224 (3,229,951) 49.9%
Storm Water Charges 1,704,329 1,700,790 1,700,790 758,281 (942,509) 44.6%
Parking Charges 5,382,494 6,343,059 6,343,059 2,997,905 (3,345,154) 47.3%
Subtotal 46,345,472 44,276,643 44,276,643 20,852,313 (23,424,330) 47.1%
Miscellaneous:
Code Enforcement 124,454 289,130 289,130 73,189 (215,941) 25.3%
Parking Fines 673,707 490,000 490,000 195,702 (294,298) 39.9%
Library Fines & Fees 2,941 - - 632 632 #DIV/0!
Contributions & Donations 357,339 360,810 602,442 341,469 (260,973) 56.7%
Printed Materials 23,060 22,000 22,000 9,339 (12,661) 42.4%
Animal Adoption 57,840 45,000 45,000 33,245 (11,755) 73.9%
Misc Merchandise 21,637 36,310 36,310 8,736 (27,574) 24.1%
Intra-City Charges 5,639,376 6,016,011 6,016,011 3,078,607 (2,937,404) 51.2%
Other Misc Revenue 1,622,189 748,854 748,854 295,214 (453,640) 39.4%
Special Assessments 1,381 1,000 1,000 692 (308) 69.2%
Subtotal 8,523,922$ 8,009,115$ 8,250,747$ 4,036,825$ (4,213,922)$ 48.9%
City of Iowa City
Revenues by Type
Fiscal Year 2023 through December 31, 2022
5
2022
Actual
2023
Budget 2023 Revised
2023
Actual Variance Percent
City of Iowa City
Revenues by Type
Fiscal Year 2023 through December 31, 2022
Use Of Money And Property:
Interest Revenues 838,095$ 1,134,991$ 1,134,991$ 2,015,319$ 880,328$ 177.6%
Rents 1,429,834 1,463,605 1,463,605 703,454 (760,151) 48.1%
Royalties & Commissions 147,441 146,592 146,592 50,377 (96,215) 34.4%
Subtotal 2,415,370 2,745,188 2,745,188 2,769,149 23,961 100.9%
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 1,716,453 941,285 221.4%
Loans 688,401 306,495 306,495 182,835 (123,660) 59.7%
Subtotal 11,891,883 28,390,663 28,837,663 1,899,288 (26,938,375) 6.6%
Total Budgetary Revenues 197,976,145$ 191,830,255$ 204,249,031$ 84,370,427$ (119,878,604) 41.3%
Non-Budgetary Fund Revenues
Internal Service Funds 24,104,658$ 24,957,886$ 24,957,886$ 12,882,500$ (12,075,386)$ 51.6%
Total Non-Budgetary Revenues 24,104,658$ 24,957,886$ 24,957,886$ 12,882,500$ (12,075,386)$ 51.6%
Total Revenues - All Funds 222,080,803$ 216,788,141$ 229,206,917$ 97,252,927$ (131,953,990)$ 42.4%
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$ 30,847,702$ 36,551,798$ 45.8%
Special Revenue Funds
2100 Community Dev Block Grant 706,002 805,974 1,190,352 268,115 922,237 22.5%
2110 HOME 182,162 475,170 3,345,831 532,142 2,813,689 15.9%
2200 Road Use Tax Fund 6,647,987 7,279,259 7,301,259 3,352,380 3,948,879 45.9%
2300 Other Shared Revenue 1,732,345 - 17,307,565 1,706,118 15,601,447 9.9%
2350 Metro Planning Org of Johnson Co. 759,804 845,692 845,692 366,680 479,012 43.4%
2400 Employee Benefits 1,302,276 1,394,767 1,394,767 761,540 633,227 54.6%
2450 Emergency Levy Fund 280,977 518,692 546,171 145,325 400,846 26.6%
2500 Affordable Housing Fund 873,449 1,000,000 1,000,000 649,432 350,568 64.9%
2510 Iowa City Property Management 204,873 223,656 223,656 64,011 159,645 28.6%
26** Tax Increment Financing 3,051,238 2,285,191 3,245,083 986,642 2,258,441 30.4%
2820 SSMID-Downtown District 467,815 556,031 556,031 193,216 362,815 34.7%
Debt Service Fund
5*** Debt Service 13,185,763 12,952,813 12,952,813 1,039,310 11,913,503 8.0%
Enterprise Funds
710* Parking 4,138,165 4,097,573 4,107,573 1,956,074 2,151,499 47.6%
715* Mass Transit 12,558,148 8,490,957 8,565,515 3,532,903 5,032,612 41.2%
720* Wastewater 9,911,472 9,975,902 10,062,912 5,971,384 4,091,528 59.3%
730* Water 9,144,432 9,408,244 9,585,693 5,472,726 4,112,967 57.1%
7400 Refuse Collection 4,001,720 4,600,848 4,600,848 2,034,480 2,566,368 44.2%
750* Landfill 5,495,623 5,783,431 5,783,431 2,643,810 3,139,621 45.7%
7600 Airport 425,107 385,060 385,060 214,910 170,150 55.8%
7700 Storm Water 561,273 682,768 682,768 316,953 365,815 46.4%
79** Housing Authority 11,745,588 10,500,330 10,500,330 6,585,348 3,914,982 62.7%
Capital Project Funds
Governmental Projects 19,678,277 19,765,470 56,474,948 12,780,898 43,694,050 22.6%
Enterprise Projects 7,241,237 27,590,750 44,487,763 4,925,349 39,562,414 11.1%
Total Budgetary Expenditures 175,129,366$ 194,599,491$ 272,545,561$ 87,347,444$ 185,198,117$ 32.0%
Non-Budgetary Funds Expenditures
Internal Service Funds
810* Equipment 4,639,406$ 6,119,417$ 8,132,324$ 3,151,061$ 4,981,263$ 38.7%
8200 Risk Management 1,528,964 1,236,062 1,236,062 839,613 396,449 67.9%
830* Information Technology 2,645,066 2,591,813 2,778,831 1,547,396 1,231,435 55.7%
8400 Central Services 220,080 211,987 227,273 91,470 135,803 40.2%
8500 Health Insurance Reserves 9,339,230 12,123,673 12,123,673 5,414,791 6,708,882 44.7%
8600 Dental Insurance Reserves 356,454 382,521 382,521 178,378 204,143 46.6%
Total Non-Budgetary Expenditures 18,729,201$ 22,665,473$ 24,880,684$ 11,222,709$ 13,657,975$ 45.1%
Total Expenditures - All Funds 193,858,567$ 217,264,964$ 297,426,245$ 98,570,153$ 198,856,092$ 33.1%
City of Iowa City
Expenditures by Fund
Fiscal Year 2023 through December 31, 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$ 92,563$ 76,211$ 54.8%
City Clerk 560,078 632,229 632,229 273,085 359,144 43.2%
City Attorney 850,566 868,194 868,194 436,493 431,701 50.3%
City Manager 4,213,343 4,654,388 5,776,948 1,960,084 3,816,864 33.9%
Finance 4,075,617 5,028,909 5,206,909 2,638,756 2,568,153 50.7%
Police 14,867,148 16,391,387 16,689,576 7,571,525 9,118,051 45.4%
Fire 9,112,628 9,587,713 9,627,196 4,659,270 4,967,926 48.4%
Parks & Recreation 9,670,687 10,433,377 10,893,158 4,771,243 6,121,915 43.8%
Library 6,934,581 7,325,426 7,325,426 3,497,722 3,827,704 47.7%
Senior Center 1,032,310 1,082,805 1,092,805 485,466 607,339 44.4%
Neighborhood & Development Services 5,858,970 4,915,066 5,225,640 2,613,307 2,612,333 50.0%
Public Works 2,845,050 3,200,355 3,200,355 1,510,135 1,690,220 47.2%
Transportation & Resource Management 653,947 692,290 692,290 338,053 354,237 48.8%
Total General Fund 60,833,635 64,980,913 67,399,500 30,847,702 36,551,798 45.8%
Special Revenue Funds
2100 Community Dev Block Grant
Neighborhood & Development Services 706,002 805,974 1,190,352 268,115 922,237 22.5%
2110 HOME
Neighborhood & Development Services 182,162 475,170 3,345,831 532,142 2,813,689 15.9%
2200 Road Use Tax Fund
Public Works 6,647,987 7,279,259 7,301,259 3,352,380 3,948,879 45.9%
2300 Other Shared Revenue
Neighborhood & Development Services 1,732,345 - 17,307,565 1,706,118 15,601,447 9.9%
2350 Metro Planning Org of Johnson Co
Neighborhood & Development Services 759,804 845,692 845,692 366,680 479,012 43.4%
2400 Employee Benefits
Finance 1,302,276 1,394,767 1,394,767 761,540 633,227 54.6%
2450 Emergency Levy Fund
City Manager 280,977 518,692 546,171 145,325 400,846 26.6%
2500 Affordable Housing Fund
Neighborhood & Development Services 873,449 1,000,000 1,000,000 649,432 350,568 64.9%
2510 Iowa City Property Management
Neighborhood & Development Services 204,873 223,656 223,656 64,011 159,645 28.6%
26** Tax Increment Financing
Finance 3,051,238 2,285,191 3,245,083 986,642 2,258,441 30.4%
2820 SSMID-Downtown District
Finance 467,815 556,031 556,031 193,216 362,815 34.7%
Total Special Revenue Funds 16,208,927 15,384,432 36,956,407 9,025,601 27,930,806 24.4%
Debt Service Fund
5*** Debt Service
Finance 13,185,763 12,952,813 12,952,813 1,039,310 11,913,503 8.0%
Total Debt Service Fund 13,185,763 12,952,813 12,952,813 1,039,310 11,913,503 8.0%
City of Iowa City
Expenditures by Fund by Department
Fiscal Year 2023 through December 31, 2022
8
2022
Actual
2023
Budget
2023
Revised
2023
Actual Variance Percent
City of Iowa City
Expenditures by Fund by Department
Fiscal Year 2023 through December 31, 2022
Enterprise Funds
710* Parking
Transportation & Resource Management 4,138,165$ 4,097,573$ 4,107,573$ 1,956,074$ 2,151,499$ 47.6%
715* Mass Transit
Transportation & Resource Management 12,558,148 8,490,957 8,565,515 3,532,903 5,032,612 41.2%
720* Wastewater
Public Works 9,911,472 9,975,902 10,062,912 5,971,384 4,091,528 59.3%
730* Water
Public Works 9,144,432 9,408,244 9,585,693 5,472,726 4,112,967 57.1%
7400 Refuse Collection
Transportation & Resource Management 4,001,720 4,600,848 4,600,848 2,034,480 2,566,368 44.2%
750* Landfill
Transportation & Resource Management 5,495,623 5,783,431 5,783,431 2,643,810 3,139,621 45.7%
7600 Airport
Airport Operations 425,107 385,060 385,060 214,910 170,150 55.8%
7700 Storm Water
Public Works 561,273 682,768 682,768 316,953 365,815 46.4%
79** Housing Authority
Neighborhood & Development Services 11,745,588 10,500,330 10,500,330 6,585,348 3,914,982 62.7%
Total Enterprise Funds 57,981,527 53,925,113 54,274,130 28,728,585 25,545,545 52.9%
Capital Project Funds
Governmental Projects 19,678,277 19,765,470 56,474,948 12,780,898 43,694,050 22.6%
Enterprise Projects 7,241,237 27,590,750 44,487,763 4,925,349 39,562,414 11.1%
Total Capital Project Funds 26,919,514 47,356,220 100,962,711 17,706,247 83,256,464 17.5%
Total Budgetary Expenditures 175,129,366$ 194,599,491$ 272,545,561$ 87,347,444$ 185,198,117$ 32.0%
Non-Budgetary Funds Expenditures
Internal Service Funds
810* Equipment
Public Works 4,639,406$ 6,119,417$ 8,132,324$ 3,151,061$ 4,981,263$ 38.7%
8200 Risk Management
Finance 1,528,964 1,236,062 1,236,062 839,613 396,449 67.9%
830* Information Technology
Finance 2,645,066 2,591,813 2,778,831 1,547,396 1,231,435 55.7%
8400 Central Services
Finance 220,080 211,987 227,273 91,470 135,803 40.2%
8500 Health Insurance Reserves
Finance 9,339,230 12,123,673 12,123,673 5,414,791 6,708,882 44.7%
8600 Dental Insurance Reserves
Finance 356,454 382,521 382,521 178,378 204,143 46.6%
Total Internal Service Funds 18,729,201 22,665,473 24,880,684 11,222,709 13,657,975 45.1%
Total Non-Budgetary Expenditures 18,729,201$ 22,665,473$ 24,880,684$ 11,222,709$ 13,657,975$ 45.1%
Total Expenditures - All Funds 193,858,567$ 217,264,964$ 297,426,245$ 98,570,153$ 198,856,092$ 33.1%
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