HomeMy WebLinkAboutFY2023 4th Qtr Financial SummaryDate: September 1, 2023
To: City Manager, City Council
From: Angie Ogden, Budget Management Analyst
Re: Quarterly Financial Summary for Period Ending June 30, 2023
Introduction
Attached to this memorandum are the City’s quarterly financial reports as of June 30, 2023. The
quarterly financial report includes combined summaries of all fund balances, revenues, and
expenditures for fiscal year 2023 through the end of the fiscal year. This report represents the
entire fiscal year’s activities, but the totals presented are still preliminary and unaudited. Accruals
will continue to be posted through August and September and until the annual financial audit is
completed by Bohnsack & Frommelt.
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 100% of budget
since we have completed the fiscal year; however, not all of the accrued revenues have been
received and posted yet.
For the major governmental funds, their actual revenues appear to have finished the year slightly
under or at their revised budget estimates. The General Fund is at 99.7%, the Road Use Tax
Fund is at 101.3%, the Employee Benefits Fund is at 100.2%, and the Debt Service Fund is at
103.4%. The General Fund has also experienced revenue shortfalls in Intergovernmental
revenues due to timing of Capital Improvement Projects and charges for Fire and Police Services.
In the major enterprise funds, the actual revenues as a percentage of the budget ranged between
41.4% and 109.6%. The Landfill Fund finished with revenues at 109.6% of budget, the
Wastewater Fund at 97.8% of budget and the Refuse Collection Fund at 96.8% of budget. Some
large accruals have yet to be made within the major enterprise funds for unbilled services and
receivables at year end. The major enterprise funds will finish the year with revenues close to or
higher than 100% of budget primarily due to conservative revenue budgeting for Charges for Fees
and Services.
The Transit Fund actual revenues currently stand at 41.4% of budget This difference in the Transit
Fund will be made up with the accrual of the Federal Operating grant. Transit Fees for Services
are sitting at 102.4% due to an increase in ridership levels.
Several funds are below the 100% benchmark due to the timing of grants. These funds include
the Community Development Block Grant (CDBG) Fund at 86.9% and the HOME Fund at 30.2%.
Additionally, both the Governmental Projects and the Enterprise Projects Capital Funds are
significantly below budget at 72.2% and 51.4%, respectively. Revenues for these funds are
significantly below budget due to the timing of the state and federal grant revenues and private
loan repayments. These revenues have not yet been received or earned and will be amended
into next year’s budget.
The Affordable Housing Fund has revenues significantly over budget primarily due to the receipt
of an affordable housing fee in lieu of payment from a developer. This is also contributing to the
Building and Development Fees and Services to be at 577.9% of budget. 1
The combined total actual revenues for all budgetary funds through June are $180,908,750 or
95.0% of budget. The budget shortfall of $9,519,370 is primarily due to the timing of the
aforementioned grant revenues and other unrecorded accruals. Overall, the City’s revenues are
slightly less than projected, and most of the anomalies and budget variances can be explained
either through timing of accruals or grants.
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 June is similar to the analysis for the City’s revenues. We generally
expect the actual expenditure levels to be around 100% of budget at this time of year. Also,
similar to the revenues, not all accruals have been recorded and posted yet.
For the majority of the City’s funds, their actual expenditures are currently at or below 100% of
their budgeted expenditures. The General Fund is at 94.9% due to unspent monies within the
City Manager’s Department for Black Lives Matter and Economic Development, that will be
carried forward to fiscal year 2024.
Some of the other funds have actual expenditures that are well below the 100% benchmark.
Those funds include: The HOME Fund (35.5%) due to timing of the pay out of loans and grant applicants.Other Shared Revenue (16.0%) primarily because of American Rescue Plan Act funds
budgeted but not yet spent.The Equipment Fund (74.1%) due to extended lead times when ordering equipment.Also, well below budget are the Governmental Projects Fund (38.5%), and the
Enterprise Projects Fund (30.3%) due to capital projects scheduled for construction
this spring.
Most of these funds contain a great deal of grant and project activity which does not always occur
evenly throughout the fiscal year. Unexpended appropriations will be carried forward into the next
fiscal year and amended into the fiscal year 2024 budget.
There are several funds currently above 100% of their budgeted expenditures. The Airport Fund
finished at 114.6% primarily due to unbudgeted maintenance. The Housing Authority at 113.0%
due to landlord rents and Affordable Housing Fund at 108.6% primarily due to Forest View
relocation expenses.
The combined total actual expenditures for all budgetary funds through June are $185,416,381
or 70.1% of budget. When the Capital Project Funds, HOME, CDBG, Other Shared Revenues
and Emergency Levy Funds are removed from the calculation, the actual percentage of
expenditures versus budget increases to 97.6%. Overall, the City’s expenditures are expected to
finish at or below budget.
Conclusion
Generally, there are no major immediate concerns to report with the City’s fund balances at year-
end. Two funds present negative fund balances at year-end. Both the CDBG and HOME fund
balances are expected to be corrected due to timing of funding streams. This year-end report is
preliminary and accruals for revenues and expenditures are still outstanding. The City’s final
financial performance will be available for the start of the fiscal year 2025 budget process in
October. Additional information is available from the Finance Department upon request.
2
Beginning Ending Restricted, Unassigned
Fund Year-to-Date Transfers Year-to-Date Transfers Fund Committed, Fund
Balance Revenues In Expenditures Out Balance Assigned Balance
Budgetary Funds
General Fund
10** General Fund 56,735,242$ 60,254,699$ 18,106,328$ 64,705,479$ 13,185,144$ 57,205,646$ 26,106,861$ 31,098,785$
Special Revenue Funds
2100 Community Dev Block Grant (14,936) 1,147,775 - 1,075,683 84,795 (27,639) - (27,639)
2110 HOME 112,966 1,048,030 - 1,187,632 - (26,637) - (26,637)
2200 Road Use Tax Fund 5,087,054 9,659,179 647,269 6,976,428 3,098,496 5,318,578 - 5,318,578
2300 Other Shared Revenue 16,363,059 608,543 2,662 2,653,065 - 14,321,198 - 14,321,198
2350 Metro Planning Org of J.C.534,206 324,880 401,943 769,755 - 491,274 - 491,274
2400 Employee Benefits 4,130,695 14,856,963 - 1,209,467 13,490,614 4,287,578 - 4,287,578
2450 Emergency Levy Fund 1,205,796 868,282 - 562,813 350,000 1,161,265 - 1,161,265
2500 Affordable Housing Fund 5,281,899 2,204,266 1,000,000 1,086,455 - 7,399,710 - 7,399,710
2510 Peninsula Apartments 233,030 264,453 - 164,044 - 333,438 - 333,438
26** Tax Increment Financing 811,156 4,154,649 80,602 2,972,006 1,846,614 227,786 - 227,786
2820 SSMID-Downtown District - 552,028 - 552,028 - - - -
Debt Service Fund
5*** Debt Service 7,116,621 11,516,174 1,789,856 13,165,630 - 7,257,022 - 7,257,022
Enterprise Funds
710* Parking 1,893,211 5,406,279 1,000,000 4,041,399 2,213,050 2,045,041 463,702 1,581,339
715* Mass Transit 10,389,250 2,912,712 6,922,101 8,842,384 3,263,167 8,118,512 10,790,595 (2,672,083)
720* Wastewater 25,314,538 12,131,877 6,088,422 10,842,023 12,276,267 20,416,549 3,142,160 17,274,389
730* Water 13,440,452 11,068,718 3,180,406 9,378,195 3,072,037 15,239,345 7,824,801 7,414,544
7400 Refuse Collection 1,374,200 4,330,973 6,538 4,077,516 - 1,634,194 - 1,634,194
750* Landfill 26,541,740 7,958,218 1,718,955 5,630,182 6,611,687 23,977,043 21,176,907 2,800,137
7600 Airport 325,446 410,662 100,000 450,509 89,914 295,685 146,385 149,300
7700 Storm Water 1,062,799 1,657,699 1,136,232 613,262 2,066,039 1,177,429 432,961 744,468
79** Housing Authority 6,225,607 11,923,721 - 11,920,963 54,791 6,173,574 1,340,537 4,833,037
Capital Project Funds
Governmental Projects 32,070,726 14,718,539 6,463,802 22,273,001 35,000 30,945,067 - 30,945,067
Enterprise Projects 14,155,857 929,431 14,092,498 10,266,461 - 18,911,325 - 18,911,325
Total Budgetary Funds 230,390,613$ 180,908,750$ 62,737,614$ 185,416,381$ 61,737,614$ 226,882,982$ 71,424,908$ 155,458,074$
Non-Budgetary Funds
Internal Service Funds
810* Equipment 20,149,842$ 8,192,808$ 71,298$ 6,338,809$ 1,071,298$ 21,003,840$ 17,990,482$ 3,013,358$
8200 Risk Management 4,058,071 1,389,276 - 1,196,091 - 4,251,256 - 4,251,256
830* Information Technology 3,967,708 3,076,963 259,851 2,784,592 259,851 4,260,079 1,767,938 2,492,141
8400 Central Services 814,625 262,194 - 199,503 - 877,316 - 877,316
8500 Health Insurance Reserves 14,435,853 12,624,342 - 10,701,680 - 16,358,515 8,123,615 8,234,900
8600 Dental Insurance Reserves 469,246 446,962 - 386,892 - 529,317 - 529,317
Total Non-Budgetary Funds 43,895,345$ 25,992,546$ 331,150$ 21,607,568$ 1,331,150$ 47,280,323$ 27,882,036$ 19,398,287$
Total All Funds 274,285,958$ 206,901,296$ 63,068,764$ 207,023,949$ 63,068,764$ 274,163,305$ 99,306,944$ 174,856,361$
City of Iowa City
Fund Summary
Fiscal Year 2023 through June 30, 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$ 60,254,699$ (196,699)$ 99.7%
Special Revenue Funds
2100 Community Dev Block Grant 765,231 857,874 1,320,700 1,147,775 (172,925) 86.9%
2110 HOME 290,694 604,164 3,474,825 1,048,030 (2,426,795) 30.2%
2200 Road Use Tax Fund 10,091,246 9,531,340 9,531,340 9,659,179 127,839 101.3%
2300 Other Shared Revenue 9,958,207 - 301,320 608,543 307,223 202.0%
2350 Metro Planning Org of Johnson Co 464,833 392,528 392,528 324,880 (67,648) 82.8%
2400 Employee Benefits 14,891,999 14,822,685 14,822,685 14,856,963 34,278 100.2%
2450 Emergency Levy Fund 1,042,548 867,503 867,503 868,282 779 100.1%
2500 Affordable Housing Fund 3,076,974 - - 2,204,266 2,204,266 0.0%
2510 Iowa City Property Management 243,332 239,323 263,123 264,453 1,330 100.5%
26** Tax Increment Financing 4,061,053 4,113,733 4,113,733 4,154,649 40,916 101.0%
2820 SSMID-Downtown District 467,815 556,031 556,031 552,028 (4,003) 99.3%
Debt Service Fund
5*** Debt Service 11,229,149 11,136,858 11,136,858 11,516,174 379,316 103.4%
Enterprise Funds
710* Parking 3,033,875 5,867,389 5,867,389 5,406,279 (461,110) 92.1%
715* Mass Transit 10,305,009 5,091,857 7,029,554 2,912,712 (4,116,842) 41.4%
720* Wastewater 9,677,752 12,411,110 12,411,110 12,131,877 (279,233) 97.8%
730* Water 9,498,280 10,926,637 10,933,086 11,068,718 135,632 101.2%
7400 Refuse Collection 3,992,002 4,474,772 4,474,772 4,330,973 (143,799) 96.8%
750* Landfill 6,847,413 7,222,531 7,262,531 7,958,218 695,687 109.6%
7600 Airport 387,012 385,410 395,410 410,662 15,252 103.9%
7700 Storm Water 97,678 1,715,290 1,715,290 1,657,699 (57,591) 96.6%
79** Housing Authority 12,097,434 10,905,608 10,905,608 11,923,721 1,018,113 109.3%
Capital Project Funds
Governmental Projects 16,093,861 13,160,000 20,392,073 14,718,539 (5,673,534) 72.2%
Enterprise Projects 9,642,453 18,028,525 1,809,254 929,431 (879,823) 51.4%
Total Budgetary Revenues 197,976,145$ 191,830,255$ 190,428,121$ 180,908,750$ (9,519,371)$ 95.0%
Non-Budgetary Fund Revenues
Internal Service Funds
810* Equipment 7,585,052$ 8,101,268$ 8,305,268$ 8,192,808$ (112,460)$ 98.6%
8200 Risk Management 1,272,674 1,080,610 1,080,610 1,389,276 308,666 128.6%
830* Information Technology 3,142,692 3,035,343 3,035,343 3,076,963 41,620 101.4%
8400 Central Services 236,594 208,803 208,803 262,194 53,391 125.6%
8500 Health Insurance Reserves 11,465,512 12,135,173 12,135,173 12,624,342 489,169 104.0%
8600 Dental Insurance Reserves 402,133 396,689 396,689 446,962 50,273 112.7%
Total Non-Budgetary Revenues 24,104,658$ 24,957,886$ 25,161,886$ 25,992,546$ 830,660$ 103.3%
Total Revenues - All Funds 222,080,803$ 216,788,141$ 215,590,007$ 206,901,296$ (8,688,711)$ 96.0%
City of Iowa City
Revenues by Fund
Fiscal Year 2023 through June 30, 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$ 66,685,014$ 210,542$ 100.3%
Other City Taxes:
TIF Revenues 4,016,096 4,113,733 4,113,733 4,086,247 (27,486) 99.3%
Gas/Electric Excise Taxes 684,491 688,134 688,134 783,781 95,647 113.9%
Mobile Home Taxes 56,796 62,999 62,999 52,975 (10,024) 84.1%
Hotel/Motel Taxes 1,708,182 1,134,862 1,134,862 1,472,766 337,904 129.8%
Utility Franchise Tax 1,148,998 993,850 993,850 900,157 (93,693) 90.6%
Subtotal 7,614,563 6,993,578 6,993,578 7,295,927 302,349 104.3%
Licenses, Permits, & Fees:
General Use Permits 101,740 65,920 65,920 96,277 30,357 146.1%
Food & Liquor Licenses 181,740 94,510 94,510 93,262 (1,248) 98.7%
Professional License 2,755 3,760 3,760 2,155 (1,605) 57.3%
Franchise Fees 540,221 582,920 582,920 386,708 (196,212) 66.3%
Construction Permits & Insp Fees 1,899,487 1,783,010 1,783,010 2,060,778 277,768 115.6%
Misc Lic & Permits 72,071 62,930 62,930 59,731 (3,199) 94.9%
Subtotal 2,798,014 2,593,050 2,593,050 2,698,911 105,861 104.1%
Intergovernmental:
Fed Intergovernmental Revenue 34,765,406 16,572,899 27,854,023 14,800,850 (13,053,173) 53.1%
Property Tax Credits 1,554,618 1,249,633 1,249,633 1,243,694 (5,939) 99.5%
Road Use Tax 9,900,316 9,390,000 9,390,000 9,505,371 115,371 101.2%
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 1,721,993 (2,274,412) 43.1%
Local 28E Agreements 1,399,853 1,344,169 2,150,698 1,353,586 (797,112) 62.9%
Subtotal 51,782,195 32,347,546 47,155,369 30,899,484 (16,255,885) 65.5%
Charges For Fees And Services:
Building & Development 4,128,695 455,270 455,270 2,631,078 2,175,808 577.9%
Police Services 51,726 75,000 75,000 101,476 26,476 135.3%
Animal Care Services 19,403 11,740 11,740 12,826 1,086 109.2%
Fire Services 11,820 11,070 11,070 8,940 (2,130) 80.8%
Transit Fees 919,435 1,409,590 1,012,890 1,036,757 23,867 102.4%
Culture & Recreation 571,135 705,255 705,255 637,499 (67,756) 90.4%
Misc Charges For Services 66,099 62,202 62,302 116,981 54,679 187.8%
Water Charges 10,128,971 9,991,670 9,991,670 9,822,784 (168,886) 98.3%
Wastewater Charges 12,117,702 12,152,450 12,152,450 11,573,546 (578,904) 95.2%
Refuse Charges 4,580,213 4,910,372 4,910,272 4,901,911 (8,361) 99.8%
Landfill Charges 6,663,449 6,448,175 6,498,175 6,485,369 (12,806) 99.8%
Storm Water Charges 1,704,329 1,700,790 1,700,790 1,622,564 (78,226) 95.4%
Parking Charges 5,382,494 6,343,059 6,343,059 5,556,651 (786,408) 87.6%
Subtotal 46,345,472 44,276,643 43,929,943 44,508,383 578,440 101.3%
Miscellaneous:
Code Enforcement 124,454 289,130 289,130 151,593 (137,537) 52.4%
Parking Fines 673,707 490,000 490,000 488,591 (1,409) 99.7%
Library Fines & Fees 2,941 - - 1,576 1,576 #DIV/0!
Contributions & Donations 357,339 360,810 660,333 509,990 (150,343) 77.2%
Printed Materials 23,060 22,000 22,000 17,736 (4,264) 80.6%
Animal Adoption 57,840 45,000 45,000 60,491 15,491 134.4%
Misc Merchandise 21,637 36,310 26,310 23,871 (2,439) 90.7%
Intra-City Charges 5,639,376 6,016,011 6,016,011 6,086,864 70,853 101.2%
Other Misc Revenue 1,622,189 748,854 948,854 1,518,524 569,670 160.0%
Special Assessments 1,381 1,000 1,000 2,003 1,003 200.3%
Subtotal 8,523,922$ 8,009,115$ 8,498,638$ 8,861,241$ 362,603$ 104.3%
City of Iowa City
Revenues by Type
Fiscal Year 2023 through June 30, 2023
5
2022
Actual
2023
Budget 2023 Revised
2023
Actual Variance Percent
City of Iowa City
Revenues by Type
Fiscal Year 2023 through June 30, 2023
Use Of Money And Property:
Interest Revenues 838,095$ 1,134,991$ 1,234,991$ 5,949,680$ 4,714,689$ 481.8%
Rents 1,429,834 1,463,605 1,497,405 1,558,159 60,754 104.1%
Royalties & Commissions 147,441 146,592 139,012 111,752 (27,260) 80.4%
Subtotal 2,415,370 2,745,188 2,871,408 7,619,591 4,748,183 265.4%
Other Financial Sources:
Debt Sales 10,790,326 27,756,000 9,330,000 9,941,862 611,862 106.6%
Sale Of Assets 413,157 328,168 2,275,168 1,931,799 (343,369) 84.9%
Loans 688,401 306,495 306,495 466,539 160,044 152.2%
Subtotal 11,891,883 28,390,663 11,911,663 12,340,200 428,537 103.6%
Total Budgetary Revenues 197,976,145$ 191,830,255$ 190,428,121$ 180,908,750$ (9,519,371) 95.0%
Non-Budgetary Fund Revenues
Internal Service Funds 24,104,658$ 24,957,886$ 25,161,886$ 26,323,695$ 1,161,809$ 104.6%
Total Non-Budgetary Revenues 24,104,658$ 24,957,886$ 25,161,886$ 26,323,695$ 1,161,809$ 104.6%
Total Revenues - All Funds 222,080,803$ 216,788,141$ 215,590,007$ 207,232,445$ (8,357,562)$ 96.1%
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$ 68,185,723$ 64,705,479$ 3,480,244$ 94.9%
Special Revenue Funds
2100 Community Dev Block Grant 706,002 805,974 1,190,352 1,075,683 114,669 90.4%
2110 HOME 182,162 475,170 3,345,831 1,187,632 2,158,199 35.5%
2200 Road Use Tax Fund 6,647,987 7,279,259 7,301,260 6,976,428 324,832 95.6%
2300 Other Shared Revenue 1,732,345 - 16,631,419 2,653,065 13,978,354 16.0%
2350 Metro Planning Org of Johnson Co. 759,804 845,692 845,692 769,755 75,937 91.0%
2400 Employee Benefits 1,302,276 1,394,767 1,394,767 1,209,467 185,300 86.7%
2450 Emergency Levy Fund 280,977 518,692 546,171 562,813 (16,642) 103.0%
2500 Affordable Housing Fund 873,449 1,000,000 1,000,000 1,086,455 (86,455) 108.6%
2510 Iowa City Property Management 204,873 223,656 246,976 164,044 82,932 66.4%
26** Tax Increment Financing 3,051,238 2,285,191 3,129,893 2,972,006 157,887 95.0%
2820 SSMID-Downtown District 467,815 556,031 556,031 552,028 4,003 99.3%
Debt Service Fund
5*** Debt Service 13,185,763 12,952,813 13,171,641 13,165,630 6,011 100.0%
Enterprise Funds
710* Parking 4,138,165 4,097,573 4,119,574 4,041,399 78,175 98.1%
715* Mass Transit 12,558,148 8,490,957 8,583,516 8,842,384 (258,868) 103.0%
720* Wastewater 9,911,472 9,975,902 10,999,912 10,842,023 157,889 98.6%
730* Water 9,144,432 9,408,244 9,585,694 9,378,195 207,499 97.8%
7400 Refuse Collection 4,001,720 4,600,848 4,600,849 4,077,516 523,333 88.6%
750* Landfill 5,495,623 5,783,431 5,728,959 5,630,182 98,777 98.3%
7600 Airport 425,107 385,060 393,219 450,509 (57,290) 114.6%
7700 Storm Water 561,273 682,768 682,769 613,262 69,507 89.8%
79** Housing Authority 11,745,588 10,500,330 10,550,447 11,920,963 (1,370,516) 113.0%
Capital Project Funds
Governmental Projects 19,678,277 19,765,470 57,795,948 22,273,001 35,522,947 38.5%
Enterprise Projects 7,241,237 27,590,750 33,874,402 10,266,461 23,607,941 30.3%
Total Budgetary Expenditures 175,129,366$ 194,599,491$ 264,461,045$ 185,416,381$ 79,044,664$ 70.1%
Non-Budgetary Funds Expenditures
Internal Service Funds
810* Equipment 4,639,406$ 6,119,417$ 8,553,169$ 6,338,809$ 2,214,360$ 74.1%
8200 Risk Management 1,528,964 1,236,062 1,236,062 1,196,091 39,971 96.8%
830* Information Technology 2,645,066 2,591,813 2,828,831 2,784,592 44,239 98.4%
8400 Central Services 220,080 211,987 227,273 199,503 27,770 87.8%
8500 Health Insurance Reserves 9,339,230 12,123,673 12,123,673 10,701,680 1,421,993 88.3%
8600 Dental Insurance Reserves 356,454 382,521 382,521 386,892 (4,371) 101.1%
Total Non-Budgetary Expenditures 18,729,201$ 22,665,473$ 25,351,529$ 21,607,568$ 3,743,961$ 85.2%
Total Expenditures - All Funds 193,858,567$ 217,264,964$ 289,812,574$ 207,023,949$ 82,788,625$ 71.4%
City of Iowa City
Expenditures by Fund
Fiscal Year 2023 through June 30, 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$ 174,794$ (6,020)$ 103.6%
City Clerk 560,078 632,229 625,117 558,189 66,928 89.3%
City Attorney 850,566 868,194 868,194 896,859 (28,665) 103.3%
City Manager 4,213,343 4,654,388 5,776,948 4,493,601 1,283,347 77.8%
Finance 4,075,617 5,028,909 5,206,909 5,832,959 (626,050) 112.0%
Police 14,867,148 16,391,387 16,854,833 15,682,313 1,172,520 93.0%
Fire 9,112,628 9,587,713 9,677,794 9,487,371 190,423 98.0%
Parks & Recreation 9,670,687 10,433,377 10,893,158 10,336,570 556,588 94.9%
Library 6,934,581 7,325,426 7,358,906 7,225,899 133,007 98.2%
Senior Center 1,032,310 1,082,805 1,109,305 1,053,569 55,736 95.0%
Neighborhood & Development Services 5,858,970 4,915,066 5,700,640 5,162,438 538,202 90.6%
Public Works 2,845,050 3,200,355 3,200,355 3,092,286 108,069 96.6%
Transportation & Resource Management 653,947 692,290 744,790 708,629 36,161 95.1%
Total General Fund 60,833,635 64,980,913 68,185,723 64,705,479 3,480,244 94.9%
Special Revenue Funds
2100 Community Dev Block Grant
Neighborhood & Development Services 706,002 805,974 1,190,352 1,075,683 114,669 90.4%
2110 HOME
Neighborhood & Development Services 182,162 475,170 3,345,831 1,187,632 2,158,199 35.5%
2200 Road Use Tax Fund
Public Works 6,647,987 7,279,259 7,301,260 6,976,428 324,832 95.6%
2300 Other Shared Revenue
Neighborhood & Development Services 1,732,345 - 16,631,419 2,653,065 13,978,354 16.0%
2350 Metro Planning Org of Johnson Co
Neighborhood & Development Services 759,804 845,692 845,692 769,755 75,937 91.0%
2400 Employee Benefits
Finance 1,302,276 1,394,767 1,394,767 1,209,467 185,300 86.7%
2450 Emergency Levy Fund
City Manager 280,977 518,692 546,171 562,813 (16,642) 103.0%
2500 Affordable Housing Fund
Neighborhood & Development Services 873,449 1,000,000 1,000,000 1,086,455 (86,455) 108.6%
2510 Iowa City Property Management
Neighborhood & Development Services 204,873 223,656 246,976 164,044 82,932 66.4%
26** Tax Increment Financing
Finance 3,051,238 2,285,191 3,129,893 2,972,006 157,887 95.0%
2820 SSMID-Downtown District
Finance 467,815 556,031 556,031 552,028 4,003 99.3%
Total Special Revenue Funds 16,208,927 15,384,432 36,188,392 19,209,378 16,979,014 53.1%
Debt Service Fund
5*** Debt Service
Finance 13,185,763 12,952,813 13,171,641 13,165,630 6,011 100.0%
Total Debt Service Fund 13,185,763 12,952,813 13,171,641 13,165,630 6,011 100.0%
City of Iowa City
Expenditures by Fund by Department
Fiscal Year 2023 through June 30, 2023
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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 June 30, 2023
Enterprise Funds
710* Parking
Transportation & Resource Management 4,138,165$ 4,097,573$ 4,119,574$ 4,041,399$ 78,175$ 98.1%
715* Mass Transit
Transportation & Resource Management 12,558,148 8,490,957 8,583,516 8,842,384 (258,868) 103.0%
720* Wastewater
Public Works 9,911,472 9,975,902 10,999,912 10,842,023 157,889 98.6%
730* Water
Public Works 9,144,432 9,408,244 9,585,694 9,378,195 207,499 97.8%
7400 Refuse Collection
Transportation & Resource Management 4,001,720 4,600,848 4,600,849 4,077,516 523,333 88.6%
750* Landfill
Transportation & Resource Management 5,495,623 5,783,431 5,728,959 5,630,182 98,777 98.3%
7600 Airport
Airport Operations 425,107 385,060 393,219 450,509 (57,290) 114.6%
7700 Storm Water
Public Works 561,273 682,768 682,769 613,262 69,507 89.8%
79** Housing Authority
Neighborhood & Development Services 11,745,588 10,500,330 10,550,447 11,920,963 (1,370,516) 113.0%
Total Enterprise Funds 57,981,527 53,925,113 55,244,939 55,796,433 (551,494) 101.0%
Capital Project Funds
Governmental Projects 19,678,277 19,765,470 57,795,948 22,273,001 35,522,947 38.5%
Enterprise Projects 7,241,237 27,590,750 33,874,402 10,266,461 23,607,941 30.3%
Total Capital Project Funds 26,919,514 47,356,220 91,670,350 32,539,462 59,130,888 35.5%
Total Budgetary Expenditures 175,129,366$ 194,599,491$ 264,461,045$ 185,416,381$ 79,044,664$ 70.1%
Non-Budgetary Funds Expenditures
Internal Service Funds
810* Equipment
Public Works 4,639,406$ 6,119,417$ 8,553,169$ 6,338,809$ 2,214,360$ 74.1%
8200 Risk Management
Finance 1,528,964 1,236,062 1,236,062 1,196,091 39,971 96.8%
830* Information Technology
Finance 2,645,066 2,591,813 2,828,831 2,784,592 44,239 98.4%
8400 Central Services
Finance 220,080 211,987 227,273 199,503 27,770 87.8%
8500 Health Insurance Reserves
Finance 9,339,230 12,123,673 12,123,673 10,701,680 1,421,993 88.3%
8600 Dental Insurance Reserves
Finance 356,454 382,521 382,521 386,892 (4,371) 101.1%
Total Internal Service Funds 18,729,201 22,665,473 25,351,529 21,607,568 3,743,961 85.2%
Total Non-Budgetary Expenditures 18,729,201$ 22,665,473$ 25,351,529$ 21,607,568$ 3,743,961$ 85.2%
Total Expenditures - All Funds 193,858,567$ 217,264,964$ 289,812,574$ 207,023,949$ 82,788,625$ 71.4%
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