FY2023 Adopted Budget

Iowa City’s levy rate dropped approximately six tenths of a percent (0.6%) in fiscal another two-tenths of a percent (0.2%) in fiscal year 2022 to $15.633. The rates of overlapping jurisdictions are not certified as of this publication. year 2022 to $15.673, and

$10 $15 $20 $25 $30 $35 $40 $45 City of Iowa City Direct and Overlapping Levy Rates

39.0% 39.5% 40.0% 40.5% 41.0% 41.5% 42.0% 42.5% 43.0% 43.5% 44.0% 44.5%

$0 $5

FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 State of IA 0.003 0.003 0.003 0.003 0.003 0.003 0.003 0.003 0.003 0.003 Kirkwood 1.079 1.065 1.058 1.061 1.080 1.132 1.204 1.213 1.257 1.312 Johnson Co. 7.075 7.077 7.077 7.228 7.093 7.179 6.839 6.761 6.674 6.493 ICCSD 14.073 13.688 13.699 13.868 13.989 13.959 14.856 14.791 14.839 14.851 IC Levy Rate 17.269 16.805 16.705 16.651 16.583 16.333 16.183 15.833 15.773 15.673 IC % of Total 43.7% 43.5% 43.4% 42.9% 42.8% 42.3% 41.4% 41.0% 40.9% 40.9%

City pension contributions has grown seven of the last ten years at a rapid pace, except fiscal year 2017 and fiscal year 2016 contributions that were a decrease of eight-tenths of a percent (.8%) and two and five-tenths of a percent (2.5%), respectively.

City Pension Contributions in thousands

$1,000 $2,000 $3,000 $4,000 $5,000 $6,000

FY12 FY13 FY14* FY15 FY16 FY17 FY18 FY19 FY20 FY21 $4,667 $4,892 $5,539 $5,550 $5,412 $5,368 $5,499 $5,841 $5,837 $5,990 % Change 30.3% 4.9% 13.3% 0.2% -2.5% -0.8% 2.4% 6.2% -0.1% 2.6% Supplemental $58 $69 $66 $70 $63 $21 $18 $19 $19 $20 MFPRSI $2,277 $2,383 $2,921 $2,958 $2,794 $2,691 $2,770 $2,907 $2,837 $2,914 IPERS $2,328 $2,440 $2,553 $2,522 $2,555 $2,656 $2,711 $2,915 $2,981 $3,056 $0 Total

*FY14 is first period reported on an accrual basis.

MFPRSI employee contributions are set by statute, currently nine and four-tenths percent (9.4%). City contributions are determined by the system’s actuary. IPERS City and employee contributions are currently a sixty/forty split (60/40), with the City paying sixty percent of total contributions.

City Pension Contribution Rates

0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00%

FY13 FY14 FY15 FY16 FY18 FY19 FY20 FY21 FY22 FY23 IPERS 8.67% 8.93% 8.93% 8.93% 8.93% 9.44% 9.44% 9.44% 9.44% 9.44% MFPRSI 26.12% 30.12% 30.41% 27.77% 25.68% 26.02% 24.41% 25.31% 26.18% 23.90%

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