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Home My WebLink AboutFY2024 1st Qtr Financial SummaryDate: November 28,2023 To: City Manager, City Council From: Angie Ogden, Budget Management Analyst Re: Quarterly Financial Summary for Period Ending September 30, 2023 Introduction Attached to this memorandum are the City’s quarterly financial reports as of September 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 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 10.1%, 6.7%, 5.7% and 5.8%, 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 24.3%, the Wastewater fund is at 21.9%, and the Refuse Collection is at 19.6%. 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 4.4% and 0.9%, respectively, due to the timing of receipt of federal monies. The Transit fund has actual revenues at 11.2% due the timing of federal grant receipts. Additionally, the Governmental Projects fund (page 4) has revenues at 1.9% 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 0.8% 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 $25,700,781 or 11.5% 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 2024 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 94.2% due to payments made to the Housing Trust Fund of Johnson County.Water fund is at 41.6% due to bond principal and interest payments paid in July.Housing Authority is at 32.2% due to higher than expected insurance rates as well as building improvements.Airport is at 31.5% due to higher than expected insurance rates as well as ground keeping increases.Governmental Projects expenditures are at 5.0% and Enterprise Projects expenditures are at 4.6% because many of the capital projects are scheduled for construction next Spring. Overall, the combined total actual expenditures for all budgetary funds through September are $45,468,647 or 14.9% 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 -$128,942 and the HOME fund at -$25,006. These negative fund balances should reverse following the receipt of grant proceeds. Fund balances appear healthy. Additional information is available from the Finance Department upon request. 2 Beginning Ending Restricted, Unassigned Fund Year-to-Date Transfers Year-to-Date Transfers Fund Committed, Fund Balance Revenues In Expenditures Out Balance Assigned Balance Budgetary Funds General Fund 10** General Fund 59,638,625$ 6,113,518$ 3,353,962$ 20,331,734$ 1,897,980$ 46,876,391$ 25,643,673$ 21,232,718$ Special Revenue Funds 2100 Community Dev Block Grant 395 58,776 - 188,112 - (128,942) - (128,942) 2110 HOME 44 32,566 - 57,616 - (25,006) - (25,006) 2200 Road Use Tax Fund 6,170,699 2,008,308 166,296 1,635,739 782,394 5,927,170 - 5,927,170 2300 Other Shared Revenue 14,321,198 170,248 - 68,906 - 14,422,540 - 14,422,540 2350 Metro Planning Org of J.C. 537,565 95,776 103,663 178,774 - 558,229 - 558,229 2400 Employee Benefits 4,287,578 845,383 - 271,106 3,464,501 1,397,354 - 1,397,354 2450 Emergency Levy Fund 1,157,208 50,559 - 60,922 87,500 1,059,346 - 1,059,346 2500 Affordable Housing Fund 7,399,710 86,568 250,000 941,783 - 6,794,496 - 6,794,496 2510 Peninsula Apartments 345,486 62,673 - 17,907 - 390,251 - 390,251 26** Tax Increment Financing 186,089 165,056 - - - 351,145 - 351,145 2820 SSMID-Downtown District - 18,884 - - - 18,884 - 18,884 Debt Service Fund 5*** Debt Service 7,252,520 748,633 - 3,225 - 7,997,928 - 7,997,928 Enterprise Funds 710* Parking 2,074,298 1,408,822 250,000 969,949 469,649 2,293,523 588,702 1,704,821 715* Mass Transit 12,462,468 733,769 1,028,244 1,752,390 18,750 12,453,341 11,226,411 1,226,930 720* Wastewater 21,174,871 2,746,339 875,537 2,040,488 1,255,898 21,500,361 3,636,262 17,864,099 730* Water 15,824,989 2,832,289 791,634 4,250,985 779,123 14,418,805 6,859,625 7,559,180 7400 Refuse Collection 1,938,934 973,431 1,572 1,050,010 - 1,863,927 - 1,863,927 750* Landfill 24,087,723 2,161,665 416,512 1,493,224 273,872 24,898,804 21,652,249 3,246,556 7600 Airport 295,565 91,291 25,000 127,984 - 283,871 171,385 112,487 7700 Storm Water 1,284,753 373,594 275,296 157,958 335,000 1,440,685 647,961 792,724 79** Housing Authority 6,173,092 3,249,625 - 3,760,571 13,698 5,648,449 - 5,648,449 Capital Project Funds Governmental Projects 32,475,993 437,661 1,268,045 3,403,296 - 30,778,403 - 30,778,403 Enterprise Projects 18,289,364 235,347 572,602 2,705,967 - 16,391,345 - 16,391,345 Total Budgetary Funds 237,379,166$ 25,700,781$ 9,378,363$ 45,468,647$ 9,378,363$ 217,611,300$ 70,426,267$ 147,185,033$ Non-Budgetary Funds Internal Service Funds 810* Equipment 21,052,457$ 2,072,747$ -$ 1,404,305$ -$ 21,720,899$ 18,483,609$ 3,237,290$ 8200 Risk Management 4,257,230 1,084,720 - 424,713 - 4,917,237 - 4,917,237 830* Information Technology 4,258,905 532,084 25,000 525,795 25,000 4,265,194 1,841,304 2,423,890 8400 Central Services 877,316 56,288 - 38,212 - 895,392 - 895,392 8500 Health Insurance Reserves 16,400,412 3,400,958 - 2,394,749 - 17,406,622 8,730,093 8,676,529 8600 Dental Insurance Reserves 529,317 116,479 - 97,336 - 548,459 - 548,459 Total Non-Budgetary Funds 47,375,637$ 7,263,275$ 25,000$ 4,885,110$ 25,000$ 49,753,803$ 29,055,006$ 20,698,797$ Total All Funds 284,754,803$ 32,964,056$ 9,403,363$ 50,353,757$ 9,403,363$ 267,365,103$ 99,481,273$ 167,883,830$ City of Iowa City Fund Summary Fiscal Year 2024 through Septemeber 30, 2023 3 2023 Actual 2024 Budget 2024 Revised 2024 Actual Variance Percent Budgetary Fund Revenues General Fund 10** General Fund 61,176,203$ 60,373,756$ 60,820,756$ 6,113,518$ (54,707,238)$ 10.1% Special Revenue Funds 2100 Community Dev Block Grant 1,175,809 909,524 1,347,095 58,776 (1,288,319) 4.4% 2110 HOME 1,074,710 1,480,386 3,613,443 32,566 (3,580,877) 0.9% 2200 Road Use Tax Fund 10,511,555 10,078,709 10,078,709 2,008,308 (8,070,401) 19.9% 2300 Other Shared Revenue 608,543 30,654 30,654 170,248 139,594 555.4% 2350 Metro Planning Org of Johnson Co 371,171 415,352 545,352 95,776 (449,576) 17.6% 2400 Employee Benefits 14,856,963 14,814,799 14,814,799 845,383 (13,969,416) 5.7% 2450 Emergency Levy Fund 868,282 868,626 868,626 50,559 (818,067) 5.8% 2500 Affordable Housing Fund 2,204,266 - - 86,568 86,568 0.0% 2510 Iowa City Property Management 264,453 266,988 266,988 62,673 (204,315) 23.5% 26** Tax Increment Financing 4,154,649 4,083,031 4,083,031 165,056 (3,917,975) 4.0% 2820 SSMID-Downtown District 552,028 634,124 634,124 18,884 (615,240) 3.0% Debt Service Fund 5*** Debt Service 11,511,672 11,173,415 11,173,415 748,633 (10,424,782) 6.7% Enterprise Funds 710* Parking 5,444,648 5,611,532 5,629,848 1,408,822 (4,221,026) 25.0% 715* Mass Transit 7,291,060 6,562,268 6,562,268 733,769 (5,828,499) 11.2% 720* Wastewater 12,897,699 12,548,301 12,548,301 2,746,339 (9,801,962) 21.9% 730* Water 11,730,665 11,668,360 11,668,360 2,832,289 (8,836,071) 24.3% 7400 Refuse Collection 4,635,713 4,968,435 4,968,435 973,431 (3,995,004) 19.6% 750* Landfill 8,069,944 7,292,093 7,292,093 2,161,665 (5,130,428) 29.6% 7600 Airport 410,662 406,797 406,797 91,291 (315,506) 22.4% 7700 Storm Water 1,765,023 1,903,038 1,903,038 373,594 (1,529,444) 19.6% 79** Housing Authority 11,923,721 12,274,066 12,274,066 3,249,625 (9,024,441) 26.5% Capital Project Funds Governmental Projects 16,926,266 15,940,000 22,516,194 437,661 (22,078,533) 1.9% Enterprise Projects 1,227,866 28,420,000 29,636,471 235,347 (29,401,124) 0.8% Total Budgetary Revenues 191,653,572$ 212,724,254$ 223,682,863$ 25,700,781$ (197,982,082)$ 11.5% Non-Budgetary Fund Revenues Internal Service Funds 810* Equipment 8,228,072$ 8,742,979$ 8,742,979$ 2,072,747$ (6,670,232)$ 23.7% 8200 Risk Management 1,395,250 1,111,193 1,111,193 1,084,720.09 (26,473) 97.6% 830* Information Technology 3,076,963 2,947,642 2,947,642 532,083.88 (2,415,558) 18.1% 8400 Central Services 262,194 232,764 232,764 56,287.58 (176,476) 24.2% 8500 Health Insurance Reserves 12,624,342 13,386,552 13,386,552 3,400,958.24 (9,985,594) 25.4% 8600 Dental Insurance Reserves 446,962 430,941 430,941 116,478.73 (314,462) 27.0% Total Non-Budgetary Revenues 26,033,784$ 26,852,071$ 26,852,071$ 7,263,275$ (19,588,796)$ 27.0% Total Revenues - All Funds 217,687,356$ 239,576,325$ 250,534,934$ 32,964,056$ (217,570,878)$ 13.2% City of Iowa City Revenues by Fund Fiscal Year 2024 through Septemeber 30, 2023 4 2023 Actual 2024 Budget 2024 Revised 2024 Actual Variance Percent Budgetary Fund Revenues Property Taxes 66,685,014$ 66,312,743$ 66,312,743$ 3,975,353$ (62,337,390)$ 6.0% Other City Taxes: TIF Revenues 4,086,247 4,083,031 4,083,031 159,138 (3,923,893) 3.9% Gas/Electric Excise Taxes 783,781 680,064 680,064 - (680,064) 0.0% Mobile Home Taxes 52,975 56,797 56,797 8,320 (48,477) 14.6% Hotel/Motel Taxes 1,885,263 1,708,100 1,708,100 - (1,708,100) 0.0% Utility Franchise Tax 1,116,963 1,151,500 1,151,500 2,190 (1,149,310) 0.2% Subtotal 7,925,229 7,679,492 7,679,492 169,648 (7,509,844) 2.2% Licenses, Permits, & Fees: General Use Permits 104,127 102,610 102,610 1,874 (100,736) 1.8% Food & Liquor Licenses 118,650 181,740 181,740 36,576 (145,164) 20.1% Professional License 2,155 2,755 2,755 565 (2,190) 20.5% Franchise Fees 508,934 540,200 540,200 1,488 (538,712) 0.3% Construction Permits & Insp Fees 2,060,778 1,676,600 1,676,600 592,384 (1,084,216) 35.3% Misc Lic & Permits 59,731 70,216 70,216 14,779 (55,437) 21.0% Subtotal 2,854,375 2,574,121 2,574,121 647,667 (1,926,454) 25.2% Intergovernmental: Fed Intergovernmental Revenue 22,351,695 18,880,564 27,774,035 3,172,141 (24,601,894) 11.4% Property Tax Credits 1,243,694 1,602,806 1,602,806 - (1,602,806) 0.0% Road Use Tax 10,346,324 9,900,316 9,900,316 2,001,137 (7,899,179) 20.2% State 28E Agreements 2,200,799 2,632,892 2,957,892 - (2,957,892) 0.0% Operating Grants 71,122 55,875 55,875 22,664 (33,211) 40.6% Disaster Assistance 15,297 - - 0 0 0.0% Other State Grants 1,184,587 1,442,554 2,587,376 226,414 (2,360,962) 8.8% Local 28E Agreements 1,259,516 1,410,659 1,410,659 567,999 (842,660) 40.3% Subtotal 38,673,034 35,925,666 46,288,959 5,990,355 (40,298,604) 12.9% Charges For Fees And Services: Building & Development 2,631,328 532,214 532,214 137,658 (394,556) 25.9% Police Services 101,476 80,000 80,000 22,869 (57,131) 28.6% Animal Care Services 12,826 19,403 19,403 3,408 (15,995) 17.6% Fire Services 9,060 9,300 9,300 22,385 13,085 240.7% Transit Fees 1,054,035 927,000 927,000 64,504 (862,496) 7.0% Culture & Recreation 637,499 594,123 594,123 179,670 (414,453) 30.2% Misc Charges For Services 116,981 59,976 59,976 9,437 (50,539) 15.7% Water Charges 10,477,522 10,555,850 10,555,850 2,447,067 (8,108,783) 23.2% Wastewater Charges 12,332,334 12,359,703 12,359,703 2,506,276 (9,853,427) 20.3% Refuse Charges 5,211,519 5,606,210 5,606,210 1,093,249 (4,512,961) 19.5% Landfill Charges 6,594,015 6,148,000 6,148,000 1,778,611 (4,369,389) 28.9% Storm Water Charges 1,729,888 1,880,000 1,880,000 360,945 (1,519,055) 19.2% Parking Charges 5,595,020 5,825,255 5,825,255 1,559,378 (4,265,877) 26.8% Subtotal 46,503,504 44,597,034 44,597,034 10,185,457 (34,411,577) 22.8% Miscellaneous: Code Enforcement 159,632 280,731 280,731 22,721 (258,010) 8.1% Parking Fines 524,471 676,634 676,634 57,377 (619,257) 8.5% Library Fines & Fees 1,576 1,000 1,000 258 (742) 25.8% Contributions & Donations 586,167 532,735 551,051 64,710 (486,341) 11.7% Printed Materials 18,676 20,340 20,340 4,498 (15,842) 22.1% Animal Adoption 60,491 57,840 57,840 21,310 (36,530) 36.8% Misc Merchandise 23,871 22,302 22,302 2,037 (20,265) 9.1% Intra-City Charges 6,086,864 6,383,611 6,383,611 1,528,531 (4,855,080) 23.9% Other Misc Revenue 1,616,048 936,093 1,066,093 215,577 (850,516) 20.2% Special Assessments 2,003 1,381 1,381 57 (1,325) 4.1% Subtotal 9,079,800$ 8,912,667$ 9,060,983$ 1,917,075$ (7,143,908)$ 21.2% City of Iowa City Revenues by Type Fiscal Year 2024 through Septemeber 30, 2023 5 2023 Actual 2024 Budget 2024 Revised 2024 Actual Variance Percent City of Iowa City Revenues by Type Fiscal Year 2024 through Septemeber 30, 2023 Use Of Money And Property: Interest Revenues 5,948,797$ 1,663,327$ 1,663,327$ 2,296,697$ 633,370$ 138.1% Rents 1,548,884 1,509,022 1,509,022 355,684 (1,153,338) 23.6% Royalties & Commissions 99,854 126,915 126,915 16,524 (110,391) 13.0% Subtotal 7,597,534 3,299,264 3,299,264 2,668,904 (630,360) 80.9% Other Financial Sources: Debt Sales 9,941,862 42,535,000 42,535,000 1,489 (42,533,511) 0.0% Sale Of Assets 1,931,799 445,400 892,400 37,046 (855,354) 4.2% Loans 461,420 442,867 442,867 107,793 (335,074) 24.3% Subtotal 12,335,081 43,423,267 43,870,267 146,328 (43,723,939) 0.3% Total Budgetary Revenues 191,653,572$ 212,724,254$ 223,682,863$ 25,700,788$ (197,982,075) 11.5% Non-Budgetary Fund Revenues Internal Service Funds 26,033,784$ 26,852,071$ 26,852,071$ 7,263,275$ (19,588,796)$ 27.0% Total Non-Budgetary Revenues 26,033,784$ 26,852,071$ 26,852,071$ 7,263,275$ (19,588,796)$ 27.0% Total Revenues - All Funds 217,687,356$ 239,576,325$ 250,534,934$ 32,964,063$ (217,570,871)$ 13.2% 6 2023 Actual 2024 Budget 2024 Revised 2024 Actual Variance Percent Budgetary Fund Expenditures General Fund 10** General Fund 63,194,004$ 68,071,131$ 75,202,188$ 20,331,734$ 54,870,454$ 27.0% Special Revenue Funds 2100 Community Dev Block Grant 1,075,683 778,376 1,215,947 188,112 1,027,835 15.5% 2110 HOME 1,187,632 1,348,625 3,481,682 57,616 3,424,066 1.7% 2200 Road Use Tax Fund 6,976,684 7,792,239 7,982,005 1,635,739 6,346,266 20.5% 2300 Other Shared Revenue 2,653,065 30,654 14,375,967 68,906 14,307,061 0.5% 2350 Metro Planning Org of Johnson Co. 769,755 830,005 1,085,005 178,774 906,231 16.5% 2400 Employee Benefits 1,209,467 1,338,854 1,338,854 271,106 1,067,748 20.2% 2450 Emergency Levy Fund 566,870 468,850 468,850 60,922 407,929 13.0% 2500 Affordable Housing Fund 1,086,455 1,000,000 1,000,000 941,783 58,217 94.2% 2510 Iowa City Property Management 151,997 247,229 247,229 17,907 229,322 7.2% 26** Tax Increment Financing 3,013,704 2,192,030 2,192,030 - 2,192,030 0.0% 2820 SSMID-Downtown District 552,028 634,124 634,124 - 634,124 0.0% Debt Service Fund 5*** Debt Service 13,165,630 13,210,690 13,210,690 3,225 13,207,465 0.0% Enterprise Funds 710* Parking 4,050,511 4,359,209 4,385,709 969,949 3,415,760 22.1% 715* Mass Transit 8,876,777 10,333,648 10,340,148 1,752,390 8,587,758 16.9% 720* Wastewater 10,849,521 8,183,257 8,224,237 2,040,488 6,183,749 24.8% 730* Water 9,454,497 10,085,483 10,221,728 4,250,985 5,970,743 41.6% 7400 Refuse Collection 4,077,516 4,627,383 4,902,383 1,050,010 3,852,373 21.4% 750* Landfill 5,631,227 6,108,611 6,108,611 1,493,224 4,615,387 24.4% 7600 Airport 450,629 406,307 406,307 127,984 278,323 31.5% 7700 Storm Water 613,262 738,481 738,481 157,958 580,523 21.4% 79** Housing Authority 11,921,444 11,686,205 11,686,205 3,760,571 7,925,634 32.2% Capital Project Funds Governmental Projects 22,949,801 31,178,470 67,411,738 3,403,296 64,008,442 5.0% Enterprise Projects 11,186,857 34,458,750 58,526,829 2,705,967 55,820,862 4.6% Total Budgetary Expenditures 185,665,018$ 220,108,611$ 305,386,947$ 45,468,647$ 259,918,300$ 14.9% Non-Budgetary Funds Expenditures Internal Service Funds 810* Equipment 6,325,457$ 6,554,320$ 8,888,125$ 1,404,305$ 7,483,820$ 15.8% 8200 Risk Management 1,196,091 1,771,250 1,771,250 424,713 1,346,537 24.0% 830* Information Technology 2,785,766 3,275,051 3,275,051 525,795 2,749,256 16.1% 8400 Central Services 199,503 212,479 212,479 38,212 174,267 18.0% 8500 Health Insurance Reserves 10,659,783 12,271,023 12,271,023 2,394,749 9,876,274 19.5% 8600 Dental Insurance Reserves 386,892 382,521 382,521 97,336 285,185 25.4% Total Non-Budgetary Expenditures 21,553,492$ 24,466,644$ 26,800,449$ 4,885,110$ 21,915,339$ 18.2% Total Expenditures - All Funds 207,218,510$ 244,575,255$ 332,187,396$ 50,353,757$ 281,833,639$ 15.2% City of Iowa City Expenditures by Fund Fiscal Year 2024 through Septemeber 30, 2023 7 2023 Actual 2024 Budget 2024 Revised 2024 Actual Variance Percent Budgetary Funds Expenditures General Fund 10** General Fund City Council 174,794$ 178,611$ 178,611$ 49,630$ 128,981$ 27.8% City Clerk 558,189 624,775 624,775$ 122,499 502,276 19.6% City Attorney 896,859 914,555 914,555$ 201,797 712,758 22.1% City Manager 4,623,699 5,148,457 10,921,528$ 5,763,543 5,157,985 52.8% Finance 4,168,894 5,090,596 5,354,624$ 1,918,295 3,436,329 35.8% Police 15,682,533 17,346,723 17,852,621$ 3,453,828 14,398,793 19.3% Fire 9,506,985 10,313,473 10,326,070$ 2,250,837 8,075,233 21.8% Parks & Recreation 10,338,539 10,567,119 10,642,829$ 2,385,510 8,257,319 22.4% Library 7,226,829 7,877,340 7,877,340$ 1,707,551 6,169,789 21.7% Senior Center 1,053,569 1,154,420 1,166,420$ 191,724 974,696 16.4% Neighborhood & Development Services 5,162,196 4,830,294 5,296,181$ 1,430,887 3,865,294 27.0% Public Works 3,092,286 3,339,887 3,349,887$ 700,394 2,649,493 20.9% Transportation & Resource Management 708,629 684,881 696,747$ 155,240 541,507 22.3% Total General Fund 63,194,004 68,071,131 75,202,188 20,331,734 54,870,454 27.0% Special Revenue Funds 2100 Community Dev Block Grant Neighborhood & Development Services 1,075,683 778,376 1,215,947 188,112 1,027,835 15.5% 2110 HOME Neighborhood & Development Services 1,187,632 1,348,625 3,481,682 57,616 3,424,066 1.7% 2200 Road Use Tax Fund Public Works 6,976,684 7,792,239 7,982,005 1,635,739 6,346,266 20.5% 2300 Other Shared Revenue Neighborhood & Development Services 2,653,065 30,654 14,375,967 68,906 14,307,061 0.5% 2350 Metro Planning Org of Johnson Co Neighborhood & Development Services 769,755 830,005 1,085,005 178,774 906,231 16.5% 2400 Employee Benefits Finance 1,209,467 1,338,854 1,338,854 271,106 1,067,748 20.2% 2450 Emergency Levy Fund City Manager 566,870 468,850 468,850 60,922 407,929 13.0% 2500 Affordable Housing Fund Neighborhood & Development Services 1,086,455 1,000,000 1,000,000 941,783 58,217 94.2% 2510 Iowa City Property Management Neighborhood & Development Services 151,997 247,229 247,229 17,907 229,322 7.2% 26** Tax Increment Financing Finance 3,013,704 2,192,030 2,192,030 - 2,192,030 0.0% 2820 SSMID-Downtown District Finance 552,028 634,124 634,124 - 634,124 0.0% Total Special Revenue Funds 19,243,340 16,660,986 34,021,693 3,420,866 30,600,827 10.1% Debt Service Fund 5*** Debt Service Finance 13,165,630 13,210,690 13,210,690 3,225 13,207,465 0.0% Total Debt Service Fund 13,165,630 13,210,690 13,210,690 3,225 13,207,465 0.0% City of Iowa City Expenditures by Fund by Department Fiscal Year 2024 through Septemeber 30, 2023 8 2023 Actual 2024 Budget 2024 Revised 2024 Actual Variance Percent City of Iowa City Expenditures by Fund by Department Fiscal Year 2024 through Septemeber 30, 2023 Enterprise Funds 710* Parking Transportation & Resource Management 4,050,511$ 4,359,209$ 4,385,709$ 969,949$ 3,415,760$ 22.1% 715* Mass Transit Transportation & Resource Management 8,876,777 10,333,648 10,340,148 1,752,390 8,587,758 16.9% 720* Wastewater Public Works 10,849,521 8,183,257 8,224,237 2,040,488 6,183,749 24.8% 730* Water Public Works 9,454,497 10,085,483 10,221,728 4,250,985 5,970,743 41.6% 7400 Refuse Collection Transportation & Resource Management 4,077,516 4,627,383 4,902,383 1,050,010 3,852,373 21.4% 750* Landfill Transportation & Resource Management 5,631,227 6,108,611 6,108,611 1,493,224 4,615,387 24.4% 7600 Airport Airport Operations 450,629 406,307 406,307 127,984 278,323 31.5% 7700 Storm Water Public Works 613,262 738,481 738,481 157,958 580,523 21.4% 79** Housing Authority Neighborhood & Development Services 11,921,444 11,686,205 11,686,205 3,760,571 7,925,634 32.2% Total Enterprise Funds 55,925,386 56,528,584 57,013,809 15,603,559 41,410,250 27.4% Capital Project Funds Governmental Projects 22,949,801 31,178,470 67,411,738 3,403,296 64,008,442 5.0% Enterprise Projects 11,186,857 34,458,750 58,526,829 2,705,967 55,820,862 4.6% Total Capital Project Funds 34,136,658 65,637,220 125,938,567 6,109,263 119,829,304 4.9% Total Budgetary Expenditures 185,665,018$ 220,108,611$ 305,386,947$ 45,468,647$ 259,918,300$ 14.9% Non-Budgetary Funds Expenditures Internal Service Funds 810* Equipment Public Works 6,325,457$ 6,554,320$ 8,888,125$ 1,404,305$ 7,483,820$ 15.8% 8200 Risk Management Finance 1,196,091 1,771,250 1,771,250 424,713 1,346,537 24.0% 830* Information Technology Finance 2,785,766 3,275,051 3,275,051 525,795 2,749,256 16.1% 8400 Central Services Finance 199,503 212,479 212,479 38,212 174,267 18.0% 8500 Health Insurance Reserves Finance 10,659,783 12,271,023 12,271,023 2,394,749 9,876,274 19.5% 8600 Dental Insurance Reserves Finance 386,892 382,521 382,521 97,336 285,185 25.4% Total Internal Service Funds 21,553,492 24,466,644 26,800,449 4,885,110 21,915,339 18.2% Total Non-Budgetary Expenditures 21,553,492$ 24,466,644$ 26,800,449$ 4,885,110$ 21,915,339$ 18.2% Total Expenditures - All Funds 207,218,510$ 244,575,255$ 332,187,396$ 50,353,757$ 281,833,639$ 15.2% 9