FY26 Proposed Budget

HOUSING AUTHORITY FUND

The Housing Authority Fund is an enterprise fund that accounts for the public housing programs operated by the Iowa City Housing Authority (ICHA) including the rental assistance programs and the City-owned public housing units. These programs are primarily funded through Federal funds from the U.S. Department of Housing and Urban Development (HUD). The Housing Authority F und’s total fund balance on June 30, 2024 was $7,129,228, an increase of $956,136 or 15.5% from the fiscal year 2023 year-end fund balance. At the end of fiscal year 2025, $1,340,537 in fund balance was restricted for maintenance and development of Public Housing units and the development of affordable homeownership opportunities. Fund balance history and projections are as follows:

(1) FY25 – FY27 are estimates.

Fiscal year 2025 revised year-end fund balance increased by 2.4% or $168,261 over the fiscal year 2024 ending balance.

In fiscal year 2026 , the Housing Authority’s fund balance is projected to decrease by $181,129 or 2.5%. The fiscal year 2026 decrease in fund balance is due to an increase in the Public Housing Program.

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