FY25 Proposed Budget

Goals, objectives, and performance measures

Partnerships and Engagement

Strategic Plan Value:

Maintain the City’s Overall Sustainable Financial Health.

Department Goal:

Maintain the City’s Aaa Bond Rating.

Department Objective: Performance Measure:

FY 2024 Projected

FY 2025 Estimate

FY 2021

FY 2022

FY 2023

Moody’s Aaa Bond Rating (maintained)

Yes

Yes

Yes

Yes

Yes

Partnerships and Engagement

Strategic Plan Value:

Accurate and Timely Financial Reporting.

Department Goal:

Earn the GFOA Distinguished Budget Presentation Award.

Department Objective:

Performance Measure:

FY 2024 Projected

FY 2025 Estimate

FY 2021

FY 2022

FY 2023

Budget Award

Yes

Yes

Yes

Yes

Yes

Partnerships and Engagement

Strategic Plan Value: 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 ret urn.

Department Objective:

Performance Measures:

FY 2024 Projected

FY 2025 Estimate

FY 2021

FY 2022

FY 2023

Quarterly Return on Investment

First Quarter

0.91%

0.32%

1.71%

4.10%

4.50%

Second Quarter

0.59%

0.32%

2.57%

4.20%

4.50%

Third Quarter

0.46%

0.36%

3.30%

4.30%

4.60%

Fourth Quarter

0.39%

0.47%

3.94%

4.40%

4.60%

FY 2024 Projected

FY 2025 Estimate

Rolling Average Return on the Six Month U.S. Treasury Bill (prior 365 days)

FY 2021

FY 2022

FY 2023

First Quarter

0.74%

0.06%

1.42%

4.25%

4.50%

Second Quarter

0.62%

0.07%

2.52%

4.30%

4.50%

Third Quarter

0.12%

0.21%

3.59%

4.35%

4.60%

Fourth Quarter

0.08%

0.61%

4.24%

4.40%

4.60%

89