Master Proposed Book FY2023

Principal Outstanding as of 6/30/22

Total Payment FY23

Final Payment

FY23 Principal

FY23 Interest

Loan

Date

Loan Amount

Parking Fund 2009F Revenue Bond Defeasance General Fund 2019 Public Works Facility Loan Road Use Tax Fund 2019 Public Works Facility Loan

11/1/2014

$ 2,495,350

2025

$ 762,064

$ 289,143

$ 279,621

$ 9,522

6/30/2019 $ 2,100,000

2036

$ 1,800,160

$ 139,759

$ 113,531

$ 26,228

6/30/2019

$ 1,400,000

2036

$ 1,200,106

$ 93,172

$ 75,687

$ 17,485

Parking Fund Parking Gate Equipment

6/30/2022

$ 1,000,000

2032

$ 1,000,000

$ 107,750

$ 93,429

$ 14,321

The City also maintains separate reserves as required by State law. Iowa State law requires landfill fund balance restrictions as follows:  Closure and Post-Closure Reserves: The State of Iowa requires that the owner/operator of a landfill set aside funds to provide assurance for the costs associated with closing the landfill and ongoing maintenance of the closed landfill site. The City is mandated to provide for the future costs associated with closing the landfill in a manner that satisfies State environmental and safety requirements, including minimizing infiltration and erosion; and sufficient to provide for the costs related to post-closure requirements.  Solid Waste Surcharge Reserve: Landfill operators are also required to retain a portion of user fees for environmental protection, waste reduction, and recycling programs. The Solid Waste Surcharge Reserve balance in the Landfill Fund is reserved for these uses and is not accessible for other City projects. The Landfill has estimated restricted fund balances at the end of fiscal year 2023 of $14.971 million for Closure/Post-Closure Reserves and $667,943 in the Solid Waste Surcharge Reserve. Revenues: The Landfill Fund is primarily supported by user fees. Fee increases were implemented in fiscal year 2021 which included a $2.50 per ton increase in the trash disposal tipping fee and an increase in the TV/monitor disposal fees. The last tipping fee increase prior to that was in fiscal year 2016 which was a $4.00 per ton increase in the trash disposal tipping fee for both Iowa City and non-Iowa City residents. The major landfill fees charged are summarized as follows: Trash Disposal Rates (per ton): Iowa City residents: $45.00 Non-Iowa City residents: $50.00 Other Disposal Rates: Iowa City Community Compost (per ton) $20 Iowa City Community Compost (minimum) $2 Wood chip mulch (per ton) $10 Wood chip mulch (minimum) $2 TV or monitors (includes peripherals) $20 Bulk electronic waste (no TV or monitor) $3 per item

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