Master Proposed Book FY2023

Fiscal Year 2023 Budget Overview The proposed Fiscal Year 2023 budget includes budgeted expenditures totaling $194,494,456. Of the total budget, $64,980,913 is for the General Fund, $47,356,220 is directed to Capital Projects and $53,925,114 is related to the operations of enterprise funds. A breakdown of the budget by fund type follows: $- $10,000,000 $20,000,000 $30,000,000 $40,000,000 $50,000,000 $60,000,000 $70,000,000 Fiscal Year 2023 Expenditure Comparison by Fund Type excludes transfers Property taxes and charges for services account for the majority of City revenues. The following table depicts a year-over-year comparison of Iowa City's revenue mix across all funds. The decrease in Property Taxes is a result of property tax rollback percentages set by the State. The increase in Other City Taxes is due to anticipated higher TIF revenues. The decrease in Use of Money and Property is due to reduced interest revenue. The decrease in Intergovernmental is related to one-time federal relief dollars in Fiscal Year 2022 and a decrease in State rollback payments beginning in Fiscal Year 2023. The increase in Charges for Services represents recovery from COVID-19 shortfalls and includes the Refuse fee increase. The decrease in Miscellaneous includes the recommended elimination of library fines for overdue materials and a decrease in contributions/donations. The increase in Other Financial Sources is due largely to issuance of a sewer revenue bond. Overall, the City’s revenue is projected to decrease 6.6%. General Enterprise Special Revenue Debt Service Capital Projects FY2023 $64,980,913 $53,925,114 $15,279,396 $12,952,813 $47,356,220

All Funds Revenue Comparison of FY2022 versus FY2023 FY2022 Revised FY2023 Budget

Percent Change -0.66% 4.54% 0.68% -3.92% -48.41% 1.39% -2.00% 146.9%

Property Taxes Other City Taxes Licenses & Permits Use of Money & Prop Intergovernmental Charges for Services

$ 66,911,637 $ 6,689,842 $ 2,575,470 $ 2,857,310 $ 62,667,825 $ 43,668,325 $ 8,172,659 $ 11,499,325 $205,352,467

$ 66,468,602 $ 6,993,579 $ 2,593,050 $ 2,745,188 $ 32,332,070 $ 44,276,643 $ 8,009,115 $ 28,390,663 $191,808,910

Miscellaneous

Other Financial Sources

-6.6%

Total

16