FY27 Proposed Budget

The Iowa City Property Management Fund accounts for the operations of the City-owned rental units in these eight developments.

Fund Balance: The fiscal year 2027 ending fund balance is projected at $151,369. The reduced fund balance is due to repairs at the Peninsula Apartments.

Revenues: Revenue is projected at $349,000 in fiscal year 2027, a decrease of 46.4% from fiscal year 2026. This is due to a contribution/donation received in fiscal year 2026 for property acquisition.

Expenditures: Expenditures are budgeted to decrease by $1,196,550 or 70.4% in fiscal year 2027 primarily due to the repairs at the Peninsula Apartments.

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