FY27 Proposed Budget

H ousing 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, 2025 was $7,670,814, an increase of $541,586 or 7.6% from the fiscal year 2024 year-end fund balance. At the end of fiscal year 2026, $862,381 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:

Fund Balance (1)

$9,000,000

$8,000,000

$7,000,000

$6,000,000

$5,000,000

$4,000,000

$3,000,000

$2,000,000

$1,000,000

$0

FY2024

FY2025

FY2026

FY2027

FY2028

Unassigned $5,709,061

$6,183,933

$5,990,204

$5,767,368

$5,239,168

Restricted

$1,420,167

$1,486,881

$862,381

$876,881

$891,381

(1) FY26 – FY28 are estimates.

Fiscal year 2026 revised year-end fund balance decreased by 10.7% or $818,229 over the fiscal year 2025 ending balance. This decrease is due to the planned repositioning of the Public Housing Program and two property acquisitions. In fiscal year 2027 , the Housing Authority’s fund balance is projected to decrease by $208,336 or 3.0%. The fiscal year 2027 decrease in fund balance is due to the planned repositioning of the Public Housing Program.

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