HomeMy WebLinkAboutFY2023 3rd Qtr Financial Summary
Date: April 26, 2023
To: City Manager, City Council
From: Angie Ogden, Budget Management Analyst
Re: Quarterly Financial Summary for Period Ending March 31, 2023
Introduction
Attached to this memorandum are the City’s quarterly financial reports as of March 31, 2023. The
quarterly financial report includes combined summaries of all fund balances, revenues, and
expenditures for Fiscal Year 2023 through the end of the third quarter, which is 75% of the way
through the fiscal year. The March quarterly report also incorporates the budget amendments
that were approved during the Fiscal Year 2024 budget process. Some of the highlights of the
City’s financial activity are discussed below.
Revenue Analysis
This revenue analysis pertains to the revenue reports, Revenues by Fund and Revenues by Type,
on pages 4-6. In these two reports, the actual revenues would ideally be near 75% of budget
since we have completed three-fourths of the fiscal year; however, due to accruals and timing
differences, many of these percentages may be above or below 75%.
Funds with budget anomalies on page 4 worth noting; the CDBG Fund and Home Fund revenues
are at 34.7% and 19.2%, respectively. Additionally, the Other Shared Revenue Fund is at 140.6%
of budget. These funds’ revenues are primarily due to the timing of the grant and federal awards
activity as well as the increase in interest allocation.
The Transit fund has revenues at 31.2% due to the timing of receipt for the federal
operating grant. Finally, the Governmental Projects fund has revenues at only 21.7% of budget
due to the timing of the Bond issuance. This fund should come up closer to budget after the
bond sale this spring.
On page 5, a few examples of revenues that are below the 75% mark include property tax revenue
which is at 60.7% of budget and reflects the timing of the property tax receipts. The second half
property taxes are due in April and should increase this percentage substantially. Other revenues
affected by the timing of property tax receipts include TIF Revenues which are at 54.8% and
Property Tax Credits which are at 49.8% of budget.
Under Charges for Fees & Services, Building & Development fees are at 110.3% of budget.
Building & Development fees includes construction from last summer and fall and is a good
indicator of the amount of construction activity underway. Police Services is at 121.4% of budget.
This is due to timing of when police forfeiture and abandonments take place.
In addition, under Intergovernmental on page 5, Operating Grants are at 115.0% and Local 28E
Agreements are at 49.7% of budget. Library reimbursements came in higher than expected as
well as the timing of receipts of grants.
Finally, on page 6, Interest Revenues are 308.8%. Again, due to the increase in interest
allocations. Under Other Financing Sources, Debt Sales revenue is at 0% of budget. We
are currently
1
preparing to sell the general obligation bonds which will bring this revenue source up to 100% of
budget.
As of March 31, the combined total actual revenue for all budgetary funds is $133,527,262 or
61.9% 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 March is similar to the analysis for the City’s revenues. We generally
expect the actual expenditure levels to be around 75% of budget at this time of year.
Some funds have expenditure activity through the third quarter that differs significantly from the
75% mark. The following funds have a significant expenditure variance above or below 75%:
CDBG Fund and HOME Fund expenditures are at 45.4% and 25.4%, respectively, due to
the timing of the payout of loans and grants to applicants.
Other Shared Revenue Fund expenditures are at 11.6% of budget primarily because of
American Rescue Plan Act funds budgeted but not yet spent.
Iowa City Property Management Fund expenditures are at 37.1% of budget resulting from
lower R&M cost as well as timing of the property tax payment.
Debt Service Fund expenditures are at 7.9%, because the general obligation bond
principal payments are not due until June 1.
Housing Authority expenditures are at 91.0% of budget due to increased landlord rents
and utility reimbursements.
Governmental Projects expenditures are at 26.8% and Enterprise Projects expenditures
are at 17.4% because many of the capital projects are scheduled for construction this
spring.
Overall, the combined total actual expenditures for all budgetary funds through March are
$137,109,938 or 34.9% of budget. The City’s expenditures through the third quarter have a few
major anomalies; however, these can be readily explained.
Conclusion
Generally, there are no major concerns to report with the City’s fund balances at the end of March.
The Community Development Block Grant (CDBG) Fund, and HOME Fund is presented (on page
3) with negative fund balance at -$100,574 and -$70,688. This negative fund balances should be
reversed following the next receipt of CDBG/HOME funds. The other fund balances appear to be
near expectations. Additional information is available from the Finance Department upon request.
2
Beginning Ending Restricted, Unassigned
Fund Year-to-Date Transfers Year-to-Date Transfers Fund Committed, Fund
Balance Revenues In Expenditures Out Balance Assigned Balance
Budgetary Funds
General Fund
10** General Fund 56,735,242$ 39,066,010$ 9,765,820$ 44,703,801$ 4,218,225$ 56,645,046$ 21,246,054$ 35,398,992$
Special Revenue Funds
2100 Community Dev Block Grant (14,936) 458,191 - 540,829 3,000 (100,574) - (100,574)
2110 HOME 112,966 667,814 - 851,467 - (70,688) - (70,688)
2200 Road Use Tax Fund 5,087,054 6,706,823 484,143 5,369,019 1,711,122 5,197,879 - 5,197,879
2300 Other Shared Revenue 16,363,059 423,796 2,662 1,937,508 - 14,852,008 - 14,852,008
2350 Metro Planning Org of J.C.534,206 225,115 301,457 554,492 - 506,286 - 506,286
2400 Employee Benefits 4,130,695 9,095,673 - 1,090,142 10,085,234 2,050,992 - 2,050,992
2450 Emergency Levy Fund 1,205,796 523,723 - 308,766 175,000 1,245,752 - 1,245,752
2500 Affordable Housing Fund 5,281,899 109,712 750,000 884,573 - 5,257,038 - 5,257,038
2510 Peninsula Apartments 233,030 204,195 - 91,647 - 345,578 - 345,578
26** Tax Increment Financing 811,156 2,288,826 - 1,057,710 - 2,042,271 - 2,042,271
2820 SSMID-Downtown District - 294,224 - 264,711 - 29,513 - 29,513
Debt Service Fund
5*** Debt Service 7,116,621 6,945,876 - 1,039,310 - 13,023,188 - 13,023,188
Enterprise Funds
710* Parking 1,893,211 4,054,847 500,000 2,847,988 1,029,787 2,570,282 553,702 2,016,580
715* Mass Transit 10,389,250 2,193,570 3,079,633 5,373,494 60,000 10,228,958 8,733,676 1,495,283
720* Wastewater 25,314,538 8,671,499 1,751,691 8,538,062 2,184,076 25,015,590 9,708,711 15,306,879
730* Water 13,440,452 8,052,925 2,264,198 7,051,844 2,156,298 14,549,433 6,895,407 7,654,026
7400 Refuse Collection 1,374,200 3,177,843 4,954 2,962,098 - 1,594,899 - 1,594,899
750* Landfill 26,541,740 5,686,841 1,121,912 3,938,328 700,211 28,711,953 25,332,521 3,379,432
7600 Airport 325,446 318,321 75,000 321,927 - 396,840 211,299 185,541
7700 Storm Water 1,062,799 1,213,467 585,934 427,101 1,070,000 1,365,099 329,000 1,036,099
79** Housing Authority 6,225,607 9,092,179 - 9,605,026 41,093 5,671,666 1,324,334 4,347,332
Capital Project Funds
Governmental Projects 32,070,726 4,415,775 1,700,626 15,396,264 35,000 22,755,863 - 22,755,863
Enterprise Projects 14,155,857 706,338 1,081,017 5,826,319 - 10,116,894 - 10,116,894
Total Budgetary Funds 230,390,613$ 114,593,581$ 23,469,047$ 120,982,427$ 23,469,047$ 224,001,767$ 74,334,703$ 149,667,064$
Non-Budgetary Funds
Internal Service Funds
810* Equipment 20,149,842$ 6,052,166$ -$ 4,888,573$ -$ 21,313,435$ 18,334,493$ 2,978,941$
8200 Risk Management 4,058,071 1,272,230 - 969,359 - 4,360,942 - 4,360,942
830* Information Technology 3,967,708 1,633,304 - 2,033,583 - 3,567,429 1,633,242 1,934,187
8400 Central Services 814,625 189,079 - 143,351 - 860,353 - 860,353
8500 Health Insurance Reserves 14,435,853 9,454,139 - 7,802,919 - 16,087,074 8,123,615 7,963,459
8600 Dental Insurance Reserves 469,246 332,763 - 289,726 - 512,283 - 512,283
Total Non-Budgetary Funds 43,895,345$ 18,933,681$ -$ 16,127,511$ -$ 46,701,515$ 28,091,350$ 18,610,165$
Total All Funds 274,285,958$ 133,527,262$ 23,469,047$ 137,109,938$ 23,469,047$ 270,703,282$ 102,426,053$ 168,277,229$
City of Iowa City
Fund Summary
Fiscal Year 2023 through March 31, 2023
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$ 60,451,398$ 39,066,010$ (21,385,388)$ 64.6%
Special Revenue Funds
2100 Community Dev Block Grant 765,231 857,874 1,320,700 458,191 (862,509) 34.7%
2110 HOME 290,694 604,164 3,474,825 667,814 (2,807,011) 19.2%
2200 Road Use Tax Fund 10,091,246 9,531,340 9,531,340 6,706,823 (2,824,517) 70.4%
2300 Other Shared Revenue 9,958,207 - 301,320 423,796 122,476 140.6%
2350 Metro Planning Org of Johnson Co 464,833 392,528 392,528 225,115 (167,413) 57.4%
2400 Employee Benefits 14,891,999 14,822,685 14,822,685 9,095,673 (5,727,012) 61.4%
2450 Emergency Levy Fund 1,042,548 867,503 867,503 523,723 (343,780) 60.4%
2500 Affordable Housing Fund 3,076,974 - - 109,712 109,712 0.0%
2510 Iowa City Property Management 243,332 239,323 263,123 204,195 (58,928) 77.6%
26** Tax Increment Financing 4,061,053 4,113,733 4,113,733 2,288,826 (1,824,907) 55.6%
2820 SSMID-Downtown District 467,815 556,031 556,031 294,224 (261,807) 52.9%
Debt Service Fund
5*** Debt Service 11,229,149 11,136,858 11,136,858 6,945,876 (4,190,982) 62.4%
Enterprise Funds
710* Parking 3,033,875 5,867,389 5,867,389 4,054,847 (1,812,542) 69.1%
715* Mass Transit 10,305,009 5,091,857 7,029,554 2,193,570 (4,835,985) 31.2%
720* Wastewater 9,677,752 12,411,110 12,411,110 8,671,499 (3,739,611) 69.9%
730* Water 9,498,280 10,926,637 10,933,086 8,052,925 (2,880,161) 73.7%
7400 Refuse Collection 3,992,002 4,474,772 4,474,772 3,177,843 (1,296,929) 71.0%
750* Landfill 6,847,413 7,222,531 7,262,531 5,686,841 (1,575,690) 78.3%
7600 Airport 387,012 385,410 395,410 318,321 (77,089) 80.5%
7700 Storm Water 97,678 1,715,290 1,715,290 1,213,467 (501,823) 70.7%
79** Housing Authority 12,097,434 10,905,608 10,905,608 9,092,179 (1,813,429) 83.4%
Capital Project Funds
Governmental Projects 16,093,861 13,160,000 20,392,073 4,415,775 (15,976,298) 21.7%
Enterprise Projects 9,642,453 18,028,525 1,809,254 706,338 (1,102,916) 39.0%
Total Budgetary Revenues 197,976,145$ 191,830,255$ 190,428,121$ 114,593,581$ (75,834,540)$ 60.2%
Non-Budgetary Fund Revenues
Internal Service Funds
810* Equipment 7,585,052$ 8,101,268$ 8,305,268$ 6,052,166$ (2,253,102)$ 72.9%
8200 Risk Management 1,272,674 1,080,610 1,080,610 1,272,230 191,620 117.7%
830* Information Technology 3,142,692 3,035,343 3,035,343 1,633,304 (1,402,039) 53.8%
8400 Central Services 236,594 208,803 208,803 189,079 (19,724) 90.6%
8500 Health Insurance Reserves 11,465,512 12,135,173 12,135,173 9,454,139 (2,681,034) 77.9%
8600 Dental Insurance Reserves 402,133 396,689 396,689 332,763 (63,926) 83.9%
Total Non-Budgetary Revenues 24,104,658$ 24,957,886$ 25,161,886$ 18,933,681$ (6,228,205)$ 75.2%
Total Revenues - All Funds 222,080,803$ 216,788,141$ 215,590,007$ 133,527,262$ (82,062,745)$ 61.9%
City of Iowa City
Revenues by Fund
Fiscal Year 2023 through March 31, 2023
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$ 40,350,696$ (26,123,776)$ 60.7%
Other City Taxes:
TIF Revenues 4,016,096 4,113,733 4,113,733 2,254,094 (1,859,639) 54.8%
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 39,521 (23,478) 62.7%
Hotel/Motel Taxes 1,708,182 1,134,862 1,134,862 1,132,980 (1,882) 99.8%
Utility Franchise Tax 1,148,998 993,850 993,850 597,485 (396,365) 60.1%
Subtotal 7,614,563 6,993,578 6,993,578 4,433,456 (2,560,122) 63.4%
Licenses, Permits, & Fees:
General Use Permits 101,740 65,920 65,920 55,439 (10,481) 84.1%
Food & Liquor Licenses 181,740 94,510 94,510 72,255 (22,255) 76.5%
Professional License 2,755 3,760 3,760 1,730 (2,030) 46.0%
Franchise Fees 540,221 582,920 582,920 263,528 (319,392) 45.2%
Construction Permits & Insp Fees 1,899,487 1,783,010 1,783,010 1,410,474 (372,536) 79.1%
Misc Lic & Permits 72,071 62,930 62,930 43,369 (19,561) 68.9%
Subtotal 2,798,014 2,593,050 2,593,050 1,846,795 (746,255) 71.2%
Intergovernmental:
Fed Intergovernmental Revenue 34,765,406 16,572,899 27,854,023 10,978,015 (16,876,008) 39.4%
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 6,583,173 (2,806,827) 70.1%
State 28E Agreements 2,093,406 2,512,490 2,452,760 2,200,799 (251,961) 89.7%
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 3,996,405 1,503,668 (2,492,737) 37.6%
Local 28E Agreements 1,399,853 1,344,169 2,150,698 1,068,013 (1,082,685) 49.7%
Subtotal 51,782,195 32,347,546 47,155,369 23,028,706 (24,126,663) 48.8%
Charges For Fees And Services:
Building & Development 4,128,695 455,270 455,270 502,184 46,914 110.3%
Police Services 51,726 75,000 75,000 91,034 16,034 121.4%
Animal Care Services 19,403 11,740 11,740 8,941 (2,799) 76.2%
Fire Services 11,820 11,070 11,070 6,900 (4,170) 62.3%
Transit Fees 919,435 1,409,590 1,012,890 770,958 (241,932) 76.1%
Culture & Recreation 571,135 705,255 705,255 442,635 (262,620) 62.8%
Misc Charges For Services 66,099 62,202 62,302 45,837 (16,466) 73.6%
Water Charges 10,128,971 9,991,670 9,991,670 7,140,910 (2,850,760) 71.5%
Wastewater Charges 12,117,702 12,152,450 12,152,450 8,307,281 (3,845,169) 68.4%
Refuse Charges 4,580,213 4,910,372 4,910,272 3,592,200 (1,318,072) 73.2%
Landfill Charges 6,663,449 6,448,175 6,498,175 4,640,974 (1,857,201) 71.4%
Storm Water Charges 1,704,329 1,700,790 1,700,790 1,192,438 (508,352) 70.1%
Parking Charges 5,382,494 6,343,059 6,343,059 4,246,502 (2,096,557) 66.9%
Subtotal 46,345,472 44,276,643 43,929,943 30,988,792 (12,941,151) 70.5%
Miscellaneous:
Code Enforcement 124,454 289,130 289,130 108,161 (180,970) 37.4%
Parking Fines 673,707 490,000 490,000 339,531 (150,469) 69.3%
Library Fines & Fees 2,941 - - 1,153 1,153 #DIV/0!
Contributions & Donations 357,339 360,810 660,333 460,471 (199,862) 69.7%
Printed Materials 23,060 22,000 22,000 12,932 (9,068) 58.8%
Animal Adoption 57,840 45,000 45,000 49,309 4,309 109.6%
Misc Merchandise 21,637 36,310 26,310 18,344 (7,966) 69.7%
Intra-City Charges 5,639,376 6,016,011 6,016,011 4,522,280 (1,493,731) 75.2%
Other Misc Revenue 1,622,189 748,854 948,854 1,361,122 412,268 143.4%
Special Assessments 1,381 1,000 1,000 842 (158) 84.2%
Subtotal 8,523,922$ 8,009,115$ 8,498,638$ 6,874,145$ (1,624,493)$ 80.9%
City of Iowa City
Revenues by Type
Fiscal Year 2023 through March 31, 2023
5
2022
Actual
2023
Budget 2023 Revised
2023
Actual Variance Percent
City of Iowa City
Revenues by Type
Fiscal Year 2023 through March 31, 2023
Use Of Money And Property:
Interest Revenues 838,095$ 1,134,991$ 1,234,991$ 3,813,711$ 2,578,720$ 308.8%
Rents 1,429,834 1,463,605 1,497,405 1,114,887 (382,518) 74.5%
Royalties & Commissions 147,441 146,592 139,012 70,449 (68,563) 50.7%
Subtotal 2,415,370 2,745,188 2,871,408 4,999,047 2,127,639 174.1%
Other Financial Sources:
Debt Sales 10,790,326 27,756,000 9,330,000 - (9,330,000) 0.0%
Sale Of Assets 413,157 328,168 2,275,168 1,750,517 (524,651) 76.9%
Loans 688,401 306,495 306,495 321,427 14,932 104.9%
Subtotal 11,891,883 28,390,663 11,911,663 2,071,944 (9,839,719) 17.4%
Total Budgetary Revenues 197,976,145$ 191,830,255$ 190,428,121$ 114,593,581$ (75,834,540) 60.2%
Non-Budgetary Fund Revenues
Internal Service Funds 24,104,658$ 24,957,886$ 25,161,886$ 18,933,681$ (6,228,205)$ 75.2%
Total Non-Budgetary Revenues 24,104,658$ 24,957,886$ 25,161,886$ 18,933,681$ (6,228,205)$ 75.2%
Total Revenues - All Funds 222,080,803$ 216,788,141$ 215,590,007$ 133,527,262$ (82,062,745)$ 61.9%
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$ 172,389,977$ 44,703,801$ 127,686,176$ 25.9%
Special Revenue Funds
2100 Community Dev Block Grant 706,002 805,974 1,190,352 540,829 649,523 45.4%
2110 HOME 182,162 475,170 3,345,831 851,467 2,494,364 25.4%
2200 Road Use Tax Fund 6,647,987 7,279,259 7,301,260 5,369,019 1,932,241 73.5%
2300 Other Shared Revenue 1,732,345 - 16,631,419 1,937,508 14,693,911 11.6%
2350 Metro Planning Org of Johnson Co. 759,804 845,692 845,692 554,492 291,200 65.6%
2400 Employee Benefits 1,302,276 1,394,767 1,394,767 1,090,142 304,625 78.2%
2450 Emergency Levy Fund 280,977 518,692 546,171 308,766 237,405 56.5%
2500 Affordable Housing Fund 873,449 1,000,000 1,000,000 884,573 115,427 88.5%
2510 Iowa City Property Management 204,873 223,656 246,976 91,647 155,329 37.1%
26** Tax Increment Financing 3,051,238 2,285,191 3,129,893 1,057,710 2,072,183 33.8%
2820 SSMID-Downtown District 467,815 556,031 556,031 264,711 291,320 47.6%
Debt Service Fund
5*** Debt Service 13,185,763 12,952,813 13,171,641 1,039,310 12,132,331 7.9%
Enterprise Funds
710* Parking 4,138,165 4,097,573 4,119,574 2,847,988 1,271,586 69.1%
715* Mass Transit 12,558,148 8,490,957 8,583,516 5,373,494 3,210,022 62.6%
720* Wastewater 9,911,472 9,975,902 10,999,912 8,538,062 2,461,850 77.6%
730* Water 9,144,432 9,408,244 9,585,694 7,051,844 2,533,850 73.6%
7400 Refuse Collection 4,001,720 4,600,848 4,600,849 2,962,098 1,638,751 64.4%
750* Landfill 5,495,623 5,783,431 5,728,959 3,938,328 1,790,631 68.7%
7600 Airport 425,107 385,060 393,219 321,927 71,292 81.9%
7700 Storm Water 561,273 682,768 682,769 427,101 255,668 62.6%
79** Housing Authority 11,745,588 10,500,330 10,550,447 9,605,026 945,421 91.0%
Capital Project Funds
Governmental Projects 19,678,277 19,765,470 57,520,948 15,396,264 42,124,684 26.8%
Enterprise Projects 7,241,237 27,590,750 33,518,461 5,826,319 27,692,142 17.4%
Total Budgetary Expenditures 175,129,366$ 194,599,491$ 368,034,358$ 120,982,427$ 247,051,931$ 32.9%
Non-Budgetary Funds Expenditures
Internal Service Funds
810* Equipment 4,639,406$ 6,119,417$ 8,132,324$ 4,888,573$ 3,243,751$ 60.1%
8200 Risk Management 1,528,964 1,236,062 1,236,062 969,359 266,703 78.4%
830* Information Technology 2,645,066 2,591,813 2,828,831 2,033,583 795,248 71.9%
8400 Central Services 220,080 211,987 227,273 143,351 83,922 63.1%
8500 Health Insurance Reserves 9,339,230 12,123,673 12,123,673 7,802,919 4,320,754 64.4%
8600 Dental Insurance Reserves 356,454 382,521 382,521 289,726 92,795 75.7%
Total Non-Budgetary Expenditures 18,729,201$ 22,665,473$ 24,930,684$ 16,127,511$ 8,803,173$ 64.7%
Total Expenditures - All Funds 193,858,567$ 217,264,964$ 392,965,042$ 137,109,938$ 255,855,104$ 34.9%
City of Iowa City
Expenditures by Fund
Fiscal Year 2023 through March 31, 2023
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$ 133,695$ 35,079$ 79.2%
City Clerk 560,078 632,229 625,117 400,415 224,702 64.1%
City Attorney 850,566 868,194 868,194 646,412 221,782 74.5%
City Manager 4,213,343 4,654,388 6,323,119 3,210,027 3,113,092 50.8%
Finance 4,075,617 5,028,909 23,459,241 3,273,291 20,185,950 14.0%
Police 14,867,148 16,391,387 16,847,333 11,144,856 5,702,477 66.2%
Fire 9,112,628 9,587,713 9,677,794 6,791,382 2,886,412 70.2%
Parks & Recreation 9,670,687 10,433,377 10,893,158 6,901,677 3,991,481 63.4%
Library 6,934,581 7,325,426 7,358,906 5,175,669 2,183,237 70.3%
Senior Center 1,032,310 1,082,805 1,109,305 735,495 373,810 66.3%
Neighborhood & Development Services 5,858,970 4,915,066 39,511,357 3,593,403 35,917,954 9.1%
Public Works 2,845,050 3,200,355 42,099,799 2,191,776 39,908,023 5.2%
Transportation & Resource Management 653,947 692,290 13,447,880 505,704 12,942,176 3.8%
Total General Fund 60,833,635 64,980,913 172,389,977 44,703,801 127,686,176 25.9%
Special Revenue Funds
2100 Community Dev Block Grant
Neighborhood & Development Services 706,002 805,974 1,190,352 540,829 649,523 45.4%
2110 HOME
Neighborhood & Development Services 182,162 475,170 3,345,831 851,467 2,494,364 25.4%
2200 Road Use Tax Fund
Public Works 6,647,987 7,279,259 7,301,260 5,369,019 1,932,241 73.5%
2300 Other Shared Revenue
Neighborhood & Development Services 1,732,345 - 16,631,419 1,937,508 14,693,911 11.6%
2350 Metro Planning Org of Johnson Co
Neighborhood & Development Services 759,804 845,692 845,692 554,492 291,200 65.6%
2400 Employee Benefits
Finance 1,302,276 1,394,767 1,394,767 1,090,142 304,625 78.2%
2450 Emergency Levy Fund
City Manager 280,977 518,692 546,171 308,766 237,405 56.5%
2500 Affordable Housing Fund
Neighborhood & Development Services 873,449 1,000,000 1,000,000 884,573 115,427 88.5%
2510 Iowa City Property Management
Neighborhood & Development Services 204,873 223,656 246,976 91,647 155,329 37.1%
26** Tax Increment Financing
Finance 3,051,238 2,285,191 3,129,893 1,057,710 2,072,183 33.8%
2820 SSMID-Downtown District
Finance 467,815 556,031 556,031 264,711 291,320 47.6%
Total Special Revenue Funds 16,208,927 15,384,432 36,188,392 12,950,865 23,237,527 35.8%
Debt Service Fund
5*** Debt Service
Finance 13,185,763 12,952,813 13,171,641 1,039,310 12,132,331 7.9%
Total Debt Service Fund 13,185,763 12,952,813 13,171,641 1,039,310 12,132,331 7.9%
City of Iowa City
Expenditures by Fund by Department
Fiscal Year 2023 through March 31, 2023
8
2022
Actual
2023
Budget
2023
Revised
2023
Actual Variance Percent
City of Iowa City
Expenditures by Fund by Department
Fiscal Year 2023 through March 31, 2023
Enterprise Funds
710* Parking
Transportation & Resource Management 4,138,165$ 4,097,573$ 4,119,574$ 2,847,988$ 1,271,586$ 69.1%
715* Mass Transit
Transportation & Resource Management 12,558,148 8,490,957 8,583,516 5,373,494 3,210,022 62.6%
720* Wastewater
Public Works 9,911,472 9,975,902 10,999,912 8,538,062 2,461,850 77.6%
730* Water
Public Works 9,144,432 9,408,244 9,585,694 7,051,844 2,533,850 73.6%
7400 Refuse Collection
Transportation & Resource Management 4,001,720 4,600,848 4,600,849 2,962,098 1,638,751 64.4%
750* Landfill
Transportation & Resource Management 5,495,623 5,783,431 5,728,959 3,938,328 1,790,631 68.7%
7600 Airport
Airport Operations 425,107 385,060 393,219 321,927 71,292 81.9%
7700 Storm Water
Public Works 561,273 682,768 682,769 427,101 255,668 62.6%
79** Housing Authority
Neighborhood & Development Services 11,745,588 10,500,330 10,550,447 9,605,026 945,421 91.0%
Total Enterprise Funds 57,981,527 53,925,113 55,244,939 41,065,869 14,179,070 74.3%
Capital Project Funds
Governmental Projects 19,678,277 19,765,470 57,520,948 15,396,264 42,124,684 26.8%
Enterprise Projects 7,241,237 27,590,750 33,518,461 5,826,319 27,692,142 17.4%
Total Capital Project Funds 26,919,514 47,356,220 91,039,409 21,222,583 69,816,826 23.3%
Total Budgetary Expenditures 175,129,366$ 194,599,491$ 368,034,358$ 120,982,427$ 247,051,931$ 32.9%
Non-Budgetary Funds Expenditures
Internal Service Funds
810* Equipment
Public Works 4,639,406$ 6,119,417$ 8,132,324$ 4,888,573$ 3,243,751$ 60.1%
8200 Risk Management
Finance 1,528,964 1,236,062 1,236,062 969,359 266,703 78.4%
830* Information Technology
Finance 2,645,066 2,591,813 2,828,831 2,033,583 795,248 71.9%
8400 Central Services
Finance 220,080 211,987 227,273 143,351 83,922 63.1%
8500 Health Insurance Reserves
Finance 9,339,230 12,123,673 12,123,673 7,802,919 4,320,754 64.4%
8600 Dental Insurance Reserves
Finance 356,454 382,521 382,521 289,726 92,795 75.7%
Total Internal Service Funds 18,729,201 22,665,473 24,930,684 16,127,511 8,803,173 64.7%
Total Non-Budgetary Expenditures 18,729,201$ 22,665,473$ 24,930,684$ 16,127,511$ 8,803,173$ 64.7%
Total Expenditures - All Funds 193,858,567$ 217,264,964$ 392,965,042$ 137,109,938$ 255,855,104$ 34.9%
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