FY25 Proposed Budget

The Iowa City Property Management Fund accounts for the operations of the City-owned rental units in these four developments. Fund Balance: The fiscal year 2025 ending fund balance is projected at $419,045. The fund’s current fund balance level is necessary to be able cover the $210,784 loan balloon payment due in fiscal year 2025. Revenues: Rental income is projected at $221,575 in fiscal year 2025, a decrease of 12.6% from fiscal year 2024. This is due to a decrease in the South District and Railroad Rentals. Expenditures: Expenditures are budgeted to decrease by $74,454 or 30.1% in fiscal year 2025 primarily due to the same reason as the revenue growth.

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