FY2024 Proposed Budget
Goals, objectives, and performance measures
Strategic Plan Goal:
Invest in Public Infrastructure, Facilities, and Fiscal Reserves
Department Goal:
Maintain the City’s Overall Sustainable Financial Health.
Department Objective:
Maintain the City’s Aaa Bond Rating.
Performance Measure:
FY 2023 Projected
FY 2024 Estimate
FY 2020
FY 2021
FY 2022
Moody’s Aaa Bond Rating (maintained)
Yes
Yes
Yes
Yes
Yes
Strategic Plan Goal:
Invest in Public Infrastructure, Facilities, and Fiscal Reserves
Department Goal:
Accurate and Timely Financial Reporting.
Department Objective:
Earn the GFOA Distinguished Budget Presentation Award.
Performance Measure:
FY 2023 Projected
FY 2024 Estimate
FY 2020
FY 2021
FY 2022
Budget Award
Yes
Yes
Yes
Yes
Yes
Strategic Plan Goal:
Invest in Public Infrastructure, Facilities, and Fiscal Reserves
Department Goal:
The City of Iowa City’s investment objectives are safety, liquidity and yield. The primary objective of the City of Iowa City’s investment activities is the preservation of capital and the protection of investment principal. In investing public funds, the City’s cash management portfolio is designed with the objective of regularly exceeding the average return on the six month U.S. Treasury Bill. The Treasury Bill is considered a benchmark for riskless investment transactions and therefore comprises a minimum standard for the portfolio’s rate of return.
Department Objective:
Performance Measures:
FY 2023 Projected
FY 2024 Estimate
FY 2020
FY 2021 FY 2022
Quarterly Return on Investment
First Quarter
2.21% 2.03% 1.90% 1.34%
0.91% 0.59% 0.46% 0.39%
0.32% 0.32% 0.36% 0.47%
0.80% 1.20% 1.40% 1.40%
1.45% 1.45% 1.50% 1.50%
Second Quarter Third Quarter Fourth Quarter
90
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