HomeMy WebLinkAboutFY2024 2nd Qtr Financial SummaryDate: February 1,2024
To: City Manager, City Council
From: Angie Ogden, Budget Management Analyst
Re: Quarterly Financial Summary for Period Ending December 31, 2023
Introduction
Attached to this memorandum are the City’s quarterly financial reports as of December 31, 2023.
The quarterly financial reports include combined summaries of all fund balances, revenues, and
expenditures for fiscal year 2024 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 18.0% and HOME 3.3% due to timing of grant receipts.
Other Shared Revenue at 1182.1% due to higher interest allocations.
Transit fund has actual revenues at 20.4% due to the timing of receipt for the federal
operating grant.
Risk Management fund has actual revenues at 104.2% due to the entries made for loss
reserve payments to intra-city charges.
Governmental Projects fund has revenues of 4.9% and Enterprise Projects fund has
revenues of 1.5% 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 26.4% 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 25.1%,
State 28E Agreements at 81.4%, Operating Grants at 122.9%, Other State Grants at 17.3% and
Local 28E Agreements at 62.3%.
Additionally, other revenues above or below 50% of budget include:
Interest Revenues at 290.0% due to higher interest allocations than expected.
Building & Development at 94.3% due to Developer Fee for Rohret Road improvements.
Code Enforcement revenues at 22.1% due to a decline in patrol and animal services
enforcement.
Transit Fees at 7.0% due to fare free riding.
1
The combined total actual revenues for all budgetary funds through December are $101,738,861
or 40.6% 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 2.1% due to the timing of projects.
Tax Increment Financing funds are at 2.2% due to the timing of rebate payments.
Debt Service Fund expenditures are at 8.2%, because the general obligation bond
principal payments are not due until June 1.
Water fund is at 63.9% due to bond principal and interest payments paid in July.
Housing Authority fund is at 61.6% due to an increase in landlord rents.
Governmental Projects expenditures are at 14.7% and Enterprise Projects expenditures
are at 12.0% because many of the capital projects are scheduled for construction this
spring.
Equipment fund is at 32.7% due to the timing of equipment purchases and replacements.
Overall, the combined total actual expenditures for all budgetary funds through December are
$103,506,322 or 31.2% 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
-$35,360 and HOME at -$24,148. These negative fund balances should reverse following the
receipt of grant proceeds. The other fund balances appear healthy. Additional information is
available from the Finance Department upon request.
2
Beginning Ending Restricted, Unassigned
Fund Year-to-Date Transfers Year-to-Date Transfers Fund Committed, Fund
Balance Revenues In Expenditures Out Balance Assigned Balance
Budgetary Funds
General Fund
10** General Fund 59,638,625$ 32,528,634$ 7,280,950$ 37,287,966$ 3,326,778$ 58,833,464$ 25,727,855$ 33,105,609$
Special Revenue Funds
2100 Community Dev Block Grant 395 242,492 - 278,247 - (35,360) - (35,360)
2110 HOME 44 119,500 - 143,692 - (24,148) - (24,148)
2200 Road Use Tax Fund 6,170,699 4,664,377 406,690 3,711,484 1,564,787 5,965,494 - 5,965,494
2300 Other Shared Revenue 14,321,198 362,356 - 300,038 1,635,455 12,748,060 - 12,748,060
2350 Metro Planning Org of J.C. 537,565 328,893 217,052 395,309 - 688,200 - 688,200
2400 Employee Benefits 4,287,578 7,905,217 1,274 1,088,565 6,929,001 4,176,502 - 4,176,502
2450 Emergency Levy Fund 1,157,208 458,298 - 245,955 175,000 1,194,552 - 1,194,552
2500 Affordable Housing Fund 7,399,710 173,907 500,000 1,038,336 - 7,035,281 - 7,035,281
2510 Peninsula Apartments 345,486 123,076 - 74,120 - 394,442 - 394,442
26** Tax Increment Financing 186,089 2,234,881 - 47,853 - 2,373,116 - 2,373,116
2820 SSMID-Downtown District - 334,520 - 260,700 - 73,821 - 73,821
Debt Service Fund
5*** Debt Service 7,252,520 6,021,337 - 1,082,010 - 12,191,847 - 12,191,847
Enterprise Funds
710* Parking 2,074,298 2,807,614 546,022 2,016,745 1,014,297 2,396,890 713,702 1,683,188
715* Mass Transit 12,462,468 1,341,341 2,251,029 4,227,197 37,500 11,790,140 11,226,411 563,729
720* Wastewater 21,174,871 6,288,835 1,806,668 4,110,621 2,318,398 22,841,355 4,323,762 18,517,593
730* Water 15,824,989 6,070,712 2,157,963 6,529,814 1,570,292 15,953,559 7,654,971 8,298,587
7400 Refuse Collection 1,938,934 2,253,555 50,385 2,221,536 - 2,021,338 - 2,021,338
750* Landfill 24,087,723 4,318,564 837,250 2,983,822 512,317 25,747,399 22,088,218 3,659,180
7600 Airport 295,565 233,236 52,316 241,293 - 339,824 196,385 143,439
7700 Storm Water 1,284,753 857,691 555,235 303,767 670,000 1,723,912 862,961 860,951
79** Housing Authority 6,173,092 6,805,167 30,102 7,204,185 23,246 5,780,930 - 5,780,930
Capital Project Funds
Governmental Projects 32,475,993 1,092,103 2,066,795 9,939,584 - 25,695,308 - 25,695,308
Enterprise Projects 18,289,364 442,311 963,852 7,026,731 - 12,668,795 - 12,668,795
Total Budgetary Funds 237,379,166$ 88,008,617$ 19,723,582$ 92,759,572$ 19,777,072$ 232,574,721$ 72,794,265$ 159,780,456$
Non-Budgetary Funds
Internal Service Funds
810* Equipment 21,052,457$ 4,351,843$ 25,471$ 2,908,403$ -$ 22,521,367$ 19,124,624$ 3,396,744$
8200 Risk Management 4,257,230 1,158,367 4,168 608,480 - 4,811,286 - 4,811,286
830* Information Technology 4,258,905 1,075,673 72,692 1,461,679 50,000 3,895,592 1,924,899 1,970,692
8400 Central Services 877,316 109,179 1,158 78,732 - 908,921 - 908,921
8500 Health Insurance Reserves 16,400,412 6,802,146 - 5,494,834 - 17,707,724 8,730,093 8,977,631
8600 Dental Insurance Reserves 529,317 233,036 - 194,622 - 567,731 - 567,731
Total Non-Budgetary Funds 47,375,637$ 13,730,244$ 103,489$ 10,746,749$ 50,000$ 50,412,621$ 29,779,616$ 20,633,005$
Total All Funds 284,754,803$ 101,738,861$ 19,827,072$ 103,506,322$ 19,827,072$ 282,987,342$ 102,573,881$ 180,413,461$
City of Iowa City
Fund Summary
Fiscal Year 2024 through December 31, 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$ 32,528,634$ (28,292,122)$ 53.5%
Special Revenue Funds
2100 Community Dev Block Grant 1,175,809 909,524 1,347,095 242,492 (1,104,603) 18.0%
2110 HOME 1,074,710 1,480,386 3,613,443 119,500 (3,493,943) 3.3%
2200 Road Use Tax Fund 10,511,555 10,078,709 10,078,709 4,664,377 (5,414,332) 46.3%
2300 Other Shared Revenue 608,543 30,654 30,654 362,356 331,702 1182.1%
2350 Metro Planning Org of Johnson Co 371,171 415,352 545,352 328,893 (216,459) 60.3%
2400 Employee Benefits 14,856,963 14,814,799 14,814,799 7,905,217 (6,909,582) 53.4%
2450 Emergency Levy Fund 868,282 868,626 868,626 458,298 (410,328) 52.8%
2500 Affordable Housing Fund 2,204,266 - - 173,907 173,907 0.0%
2510 Iowa City Property Management 264,453 266,988 266,988 123,076 (143,912) 46.1%
26** Tax Increment Financing 4,154,649 4,083,031 4,083,031 2,234,881 (1,848,150) 54.7%
2820 SSMID-Downtown District 552,028 634,124 634,124 334,520 (299,604) 52.8%
Debt Service Fund
5*** Debt Service 11,511,672 11,173,415 11,173,415 6,021,337 (5,152,078) 53.9%
Enterprise Funds
710* Parking 5,444,648 5,611,532 5,629,848 2,807,614 (2,822,234) 49.9%
715* Mass Transit 7,291,060 6,562,268 6,562,268 1,341,341 (5,220,927) 20.4%
720* Wastewater 12,897,699 12,548,301 12,548,301 6,288,835 (6,259,466) 50.1%
730* Water 11,730,665 11,668,360 11,668,360 6,070,712 (5,597,648) 52.0%
7400 Refuse Collection 4,635,713 4,968,435 4,968,435 2,253,555 (2,714,880) 45.4%
750* Landfill 8,069,944 7,292,093 7,292,093 4,318,564 (2,973,529) 59.2%
7600 Airport 410,662 406,797 406,797 233,236 (173,561) 57.3%
7700 Storm Water 1,765,023 1,903,038 1,903,038 857,691 (1,045,348) 45.1%
79** Housing Authority 11,923,721 12,274,066 12,274,066 6,805,167 (5,468,899) 55.4%
Capital Project Funds
Governmental Projects 16,926,266 15,940,000 22,516,194 1,092,103 (21,424,091) 4.9%
Enterprise Projects 1,227,866 28,420,000 29,636,471 442,311 (29,194,160) 1.5%
Total Budgetary Revenues 191,653,572$ 212,724,254$ 223,682,863$ 88,008,617$ (135,674,246)$ 39.3%
Non-Budgetary Fund Revenues
Internal Service Funds
810* Equipment 8,228,072$ 8,742,979$ 8,742,979$ 4,351,843$ (4,391,136)$ 49.8%
8200 Risk Management 1,395,250 1,111,193 1,111,193 1,158,367.37 47,174 104.2%
830* Information Technology 3,076,963 2,947,642 2,947,642 1,075,672.82 (1,871,969) 36.5%
8400 Central Services 262,194 232,764 232,764 109,179.10 (123,585) 46.9%
8500 Health Insurance Reserves 12,624,342 13,386,552 13,386,552 6,802,145.95 (6,584,406) 50.8%
8600 Dental Insurance Reserves 446,962 430,941 430,941 233,036.06 (197,905) 54.1%
Total Non-Budgetary Revenues 26,033,784$ 26,852,071$ 26,852,071$ 13,730,244$ (13,121,827)$ 51.1%
Total Revenues - All Funds 217,687,356$ 239,576,325$ 250,534,934$ 101,738,861$ (148,796,073)$ 40.6%
City of Iowa City
Revenues by Fund
Fiscal Year 2024 through December 31, 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$ 34,888,721$ (31,424,022)$ 52.6%
Other City Taxes:
TIF Revenues 4,086,247 4,083,031 4,083,031 2,204,402 (1,878,629) 54.0%
Gas/Electric Excise Taxes 783,781 680,064 680,064 374,401 (305,663) 55.1%
Mobile Home Taxes 52,975 56,797 56,797 32,024 (24,773) 56.4%
Hotel/Motel Taxes 1,885,263 1,708,100 1,708,100 683,087 (1,025,013) 40.0%
Utility Franchise Tax 1,116,963 1,151,500 1,151,500 304,377 (847,123) 26.4%
Subtotal 7,925,229 7,679,492 7,679,492 3,598,292 (4,081,200) 46.9%
Licenses, Permits, & Fees:
General Use Permits 104,127 102,610 102,610 11,732 (90,878) 11.4%
Food & Liquor Licenses 118,650 181,740 181,740 73,467 (108,273) 40.4%
Professional License 2,155 2,755 2,755 1,340 (1,415) 48.6%
Franchise Fees 508,934 540,200 540,200 131,744 (408,456) 24.4%
Construction Permits & Insp Fees 2,060,778 1,676,600 1,676,600 1,176,114 (500,486) 70.1%
Misc Lic & Permits 59,731 70,216 70,216 27,376 (42,841) 39.0%
Subtotal 2,854,375 2,574,121 2,574,121 1,421,773 (1,152,348) 55.2%
Intergovernmental:
Fed Intergovernmental Revenue 22,351,695 18,880,564 27,774,035 6,962,521 (20,811,514) 25.1%
Property Tax Credits 1,243,694 1,602,806 1,602,806 371,073 (1,231,733) 23.2%
Road Use Tax 10,346,324 9,900,316 9,900,316 4,570,769 (5,329,547) 46.2%
State 28E Agreements 2,200,799 2,632,892 2,957,892 2,408,480 (549,412) 81.4%
Operating Grants 71,122 55,875 55,875 68,697 12,822 122.9%
Disaster Assistance 15,297 - - 0 0 0.0%
Other State Grants 1,184,587 1,442,554 2,587,376 446,999 (2,140,377) 17.3%
Local 28E Agreements 1,259,516 1,410,659 1,410,659 878,371 (532,288) 62.3%
Subtotal 38,673,034 35,925,666 46,288,959 15,706,910 (30,582,049) 33.9%
Charges For Fees And Services:
Building & Development 2,631,328 532,214 532,214 501,625 (30,589) 94.3%
Police Services 101,476 80,000 80,000 71,535 (8,465) 89.4%
Animal Care Services 12,826 19,403 19,403 5,491 (13,912) 28.3%
Fire Services 9,060 9,300 9,300 26,225 16,925 282.0%
Transit Fees 1,054,035 927,000 927,000 64,504 (862,496) 7.0%
Culture & Recreation 637,499 594,123 594,123 308,141 (285,982) 51.9%
Misc Charges For Services 116,981 59,976 59,976 21,959 (38,017) 36.6%
Water Charges 10,477,522 10,555,850 10,555,850 5,231,549 (5,324,301) 49.6%
Wastewater Charges 12,332,334 12,359,703 12,359,703 5,801,616 (6,558,087) 46.9%
Refuse Charges 5,211,519 5,606,210 5,606,210 2,487,012 (3,119,198) 44.4%
Landfill Charges 6,594,015 6,148,000 6,148,000 3,510,407 (2,637,593) 57.1%
Storm Water Charges 1,729,888 1,880,000 1,880,000 830,571 (1,049,429) 44.2%
Parking Charges 5,595,020 5,825,255 5,825,255 2,983,872 (2,841,383) 51.2%
Subtotal 46,503,504 44,597,034 44,597,034 21,844,506 (22,752,528) 49.0%
Miscellaneous:
Code Enforcement 159,632 280,731 280,731 62,030 (218,701) 22.1%
Parking Fines 524,471 676,634 676,634 254,744 (421,890) 37.6%
Library Fines & Fees 1,576 1,000 1,000 499 (501) 49.9%
Contributions & Donations 586,167 532,735 551,051 243,007 (308,044) 44.1%
Printed Materials 18,676 20,340 20,340 9,799 (10,541) 48.2%
Animal Adoption 60,491 57,840 57,840 37,665 (20,175) 65.1%
Misc Merchandise 23,871 22,302 22,302 8,357 (13,945) 37.5%
Intra-City Charges 6,086,864 6,383,611 6,383,611 3,135,410 (3,248,201) 49.1%
Other Misc Revenue 1,616,048 936,093 1,066,093 539,303 (526,790) 50.6%
Special Assessments 2,003 1,381 1,381 338 (1,043) 24.5%
Subtotal 9,079,800$ 8,912,667$ 9,060,983$ 4,291,152$ (4,769,831)$ 47.4%
City of Iowa City
Revenues by Type
Fiscal Year 2024 through December 31, 2023
5
2023
Actual
2024
Budget 2024 Revised
2024
Actual Variance Percent
City of Iowa City
Revenues by Type
Fiscal Year 2024 through December 31, 2023
Use Of Money And Property:
Interest Revenues 5,948,797$ 1,663,327$ 1,663,327$ 4,823,515$ 3,160,188$ 290.0%
Rents 1,548,884 1,509,022 1,509,022 718,555 (790,467) 47.6%
Royalties & Commissions 99,854 126,915 126,915 58,443 (68,472) 46.0%
Subtotal 7,597,534 3,299,264 3,299,264 5,600,513 2,301,249 169.8%
Other Financial Sources:
Debt Sales 9,941,862 42,535,000 42,535,000 - (42,535,000) 0.0%
Sale Of Assets 1,931,799 445,400 892,400 420,931 (471,469) 47.2%
Loans 461,420 442,867 442,867 235,819 (207,048) 53.2%
Subtotal 12,335,081 43,423,267 43,870,267 656,750 (43,213,517) 1.5%
Total Budgetary Revenues 191,653,572$ 212,724,254$ 223,682,863$ 88,008,617$ (135,674,246) 39.3%
Non-Budgetary Fund Revenues
Internal Service Funds 26,033,784$ 26,852,071$ 26,852,071$ 13,730,244$ (13,121,827)$ 51.1%
Total Non-Budgetary Revenues 26,033,784$ 26,852,071$ 26,852,071$ 13,730,244$ (13,121,827)$ 51.1%
Total Revenues - All Funds 217,687,356$ 239,576,325$ 250,534,934$ 101,738,861$ (148,796,073)$ 40.6%
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$ 37,287,966$ 37,914,222$ 49.6%
Special Revenue Funds
2100 Community Dev Block Grant 1,075,683 778,376 1,215,947 278,247 937,700 22.9%
2110 HOME 1,187,632 1,348,625 3,481,682 143,692 3,337,990 4.1%
2200 Road Use Tax Fund 6,976,684 7,792,239 7,982,005 3,711,484 4,270,521 46.5%
2300 Other Shared Revenue 2,653,065 30,654 14,375,967 300,038 14,075,929 2.1%
2350 Metro Planning Org of Johnson Co. 769,755 830,005 1,085,005 395,309 689,696 36.4%
2400 Employee Benefits 1,209,467 1,338,854 1,338,854 1,088,565 250,289 81.3%
2450 Emergency Levy Fund 566,870 468,850 468,850 245,955 222,895 52.5%
2500 Affordable Housing Fund 1,086,455 1,000,000 1,000,000 1,038,336 (38,336) 103.8%
2510 Iowa City Property Management 151,997 247,229 247,229 74,120 173,109 30.0%
26** Tax Increment Financing 3,013,704 2,192,030 2,192,030 47,853 2,144,177 2.2%
2820 SSMID-Downtown District 552,028 634,124 634,124 260,700 373,424 41.1%
Debt Service Fund
5*** Debt Service 13,165,630 13,210,690 13,210,690 1,082,010 12,128,680 8.2%
Enterprise Funds
710* Parking 4,050,511 4,359,209 4,385,709 2,016,745 2,368,964 46.0%
715* Mass Transit 8,876,777 10,333,648 10,340,148 4,227,197 6,112,951 40.9%
720* Wastewater 10,849,521 8,183,257 8,224,237 4,110,621 4,113,616 50.0%
730* Water 9,454,497 10,085,483 10,221,728 6,529,814 3,691,914 63.9%
7400 Refuse Collection 4,077,516 4,627,383 4,902,383 2,221,536 2,680,847 45.3%
750* Landfill 5,631,227 6,108,611 6,108,611 2,983,822 3,124,789 48.8%
7600 Airport 450,629 406,307 406,307 241,293 165,014 59.4%
7700 Storm Water 613,262 738,481 738,481 303,767 434,714 41.1%
79** Housing Authority 11,921,444 11,686,205 11,686,205 7,204,185 4,482,020 61.6%
Capital Project Funds
Governmental Projects 22,949,801 31,178,470 67,411,738 9,939,584 57,472,154 14.7%
Enterprise Projects 11,186,857 34,458,750 58,526,829 7,026,731 51,500,098 12.0%
Total Budgetary Expenditures 185,665,018$ 220,108,611$ 305,386,947$ 92,759,572$ 212,627,375$ 30.4%
Non-Budgetary Funds Expenditures
Internal Service Funds
810* Equipment 6,325,457$ 6,554,320$ 8,888,125$ 2,908,403$ 5,979,722$ 32.7%
8200 Risk Management 1,196,091 1,771,250 1,771,250 608,480 1,162,770 34.4%
830* Information Technology 2,785,766 3,275,051 3,275,051 1,461,679 1,813,372 44.6%
8400 Central Services 199,503 212,479 212,479 78,732 133,747 37.1%
8500 Health Insurance Reserves 10,659,783 12,271,023 12,271,023 5,494,834 6,776,189 44.8%
8600 Dental Insurance Reserves 386,892 382,521 382,521 194,622 187,899 50.9%
Total Non-Budgetary Expenditures 21,553,492$ 24,466,644$ 26,800,449$ 10,746,749$ 16,053,700$ 40.1%
Total Expenditures - All Funds 207,218,510$ 244,575,255$ 332,187,396$ 103,506,322$ 228,681,074$ 31.2%
City of Iowa City
Expenditures by Fund
Fiscal Year 2024 through December 31, 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$ 90,072$ 88,539$ 50.4%
City Clerk 558,189 624,775 624,775$ 303,237 321,538 48.5%
City Attorney 896,859 914,555 914,555$ 461,777 452,778 50.5%
City Manager 4,623,699 5,148,457 10,921,528$ 7,037,286 3,884,242 64.4%
Finance 4,168,894 5,090,596 5,354,624$ 2,858,665 2,495,959 53.4%
Police 15,682,533 17,346,723 17,852,621$ 7,872,765 9,979,856 44.1%
Fire 9,506,985 10,313,473 10,326,070$ 4,857,536 5,468,534 47.0%
Parks & Recreation 10,338,539 10,567,119 10,642,829$ 4,847,769 5,795,060 45.5%
Library 7,226,829 7,877,340 7,877,340$ 3,689,509 4,187,831 46.8%
Senior Center 1,053,569 1,154,420 1,166,420$ 471,151 695,269 40.4%
Neighborhood & Development Services 5,162,196 4,830,294 5,296,181$ 2,875,641 2,420,540 54.3%
Public Works 3,092,286 3,339,887 3,349,887$ 1,589,985 1,759,902 47.5%
Transportation & Resource Management 708,629 684,881 696,747$ 332,574 364,173 47.7%
Total General Fund 63,194,004 68,071,131 75,202,188 37,287,966 37,914,222 49.6%
Special Revenue Funds
2100 Community Dev Block Grant
Neighborhood & Development Services 1,075,683 778,376 1,215,947 278,247 937,700 22.9%
2110 HOME
Neighborhood & Development Services 1,187,632 1,348,625 3,481,682 143,692 3,337,990 4.1%
2200 Road Use Tax Fund
Public Works 6,976,684 7,792,239 7,982,005 3,711,484 4,270,521 46.5%
2300 Other Shared Revenue
Neighborhood & Development Services 2,653,065 30,654 14,375,967 300,038 14,075,929 2.1%
2350 Metro Planning Org of Johnson Co
Neighborhood & Development Services 769,755 830,005 1,085,005 395,309 689,696 36.4%
2400 Employee Benefits
Finance 1,209,467 1,338,854 1,338,854 1,088,565 250,289 81.3%
2450 Emergency Levy Fund
City Manager 566,870 468,850 468,850 245,955 222,895 52.5%
2500 Affordable Housing Fund
Neighborhood & Development Services 1,086,455 1,000,000 1,000,000 1,038,336 (38,336) 103.8%
2510 Iowa City Property Management
Neighborhood & Development Services 151,997 247,229 247,229 74,120 173,109 30.0%
26** Tax Increment Financing
Finance 3,013,704 2,192,030 2,192,030 47,853 2,144,177 2.2%
2820 SSMID-Downtown District
Finance 552,028 634,124 634,124 260,700 373,424 41.1%
Total Special Revenue Funds 19,243,340 16,660,986 34,021,693 7,584,301 26,437,392 22.3%
Debt Service Fund
5*** Debt Service
Finance 13,165,630 13,210,690 13,210,690 1,082,010 12,128,680 8.2%
Total Debt Service Fund 13,165,630 13,210,690 13,210,690 1,082,010 12,128,680 8.2%
City of Iowa City
Expenditures by Fund by Department
Fiscal Year 2024 through December 31, 2023
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2023
Actual
2024
Budget
2024
Revised
2024
Actual Variance Percent
City of Iowa City
Expenditures by Fund by Department
Fiscal Year 2024 through December 31, 2023
Enterprise Funds
710* Parking
Transportation & Resource Management 4,050,511$ 4,359,209$ 4,385,709$ 2,016,745$ 2,368,964$ 46.0%
715* Mass Transit
Transportation & Resource Management 8,876,777 10,333,648 10,340,148 4,227,197 6,112,951 40.9%
720* Wastewater
Public Works 10,849,521 8,183,257 8,224,237 4,110,621 4,113,616 50.0%
730* Water
Public Works 9,454,497 10,085,483 10,221,728 6,529,814 3,691,914 63.9%
7400 Refuse Collection
Transportation & Resource Management 4,077,516 4,627,383 4,902,383 2,221,536 2,680,847 45.3%
750* Landfill
Transportation & Resource Management 5,631,227 6,108,611 6,108,611 2,983,822 3,124,789 48.8%
7600 Airport
Airport Operations 450,629 406,307 406,307 241,293 165,014 59.4%
7700 Storm Water
Public Works 613,262 738,481 738,481 303,767 434,714 41.1%
79** Housing Authority
Neighborhood & Development Services 11,921,444 11,686,205 11,686,205 7,204,185 4,482,020 61.6%
Total Enterprise Funds 55,925,386 56,528,584 57,013,809 29,838,981 27,174,828 52.3%
Capital Project Funds
Governmental Projects 22,949,801 31,178,470 67,411,738 9,939,584 57,472,154 14.7%
Enterprise Projects 11,186,857 34,458,750 58,526,829 7,026,731 51,500,098 12.0%
Total Capital Project Funds 34,136,658 65,637,220 125,938,567 16,966,315 108,972,252 13.5%
Total Budgetary Expenditures 185,665,018$ 220,108,611$ 305,386,947$ 92,759,572$ 212,627,375$ 30.4%
Non-Budgetary Funds Expenditures
Internal Service Funds
810* Equipment
Public Works 6,325,457$ 6,554,320$ 8,888,125$ 2,908,403$ 5,979,722$ 32.7%
8200 Risk Management
Finance 1,196,091 1,771,250 1,771,250 608,480 1,162,770 34.4%
830* Information Technology
Finance 2,785,766 3,275,051 3,275,051 1,461,679 1,813,372 44.6%
8400 Central Services
Finance 199,503 212,479 212,479 78,732 133,747 37.1%
8500 Health Insurance Reserves
Finance 10,659,783 12,271,023 12,271,023 5,494,834 6,776,189 44.8%
8600 Dental Insurance Reserves
Finance 386,892 382,521 382,521 194,622 187,899 50.9%
Total Internal Service Funds 21,553,492 24,466,644 26,800,449 10,746,749 16,053,700 40.1%
Total Non-Budgetary Expenditures 21,553,492$ 24,466,644$ 26,800,449$ 10,746,749$ 16,053,700$ 40.1%
Total Expenditures - All Funds 207,218,510$ 244,575,255$ 332,187,396$ 103,506,322$ 228,681,074$ 31.2%
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