Master Proposed Book FY2023

Goals, objectives, and performance measures

Strategic Plan Goal: Department Goal: Department Objective: Performance Measure:

Invest in Public Infrastructure, Facilities, and Fiscal Reserves Maintain the City’s Overall Sustainable Financial Health.

Maintain the City’s Aaa Bond Rating.

FY 2023 Estimate

FY 2019

FY 2020

FY 2021 FY 2022 Projected

Moody’s Aaa Bond Rating (maintained)

Yes

Yes

Yes

Yes

Yes

Strategic Plan Goal: Department Goal: Department Objective: Performance Measure:

Invest in Public Infrastructure, Facilities, and Fiscal Reserves

Accurate and Timely Financial Reporting.

Earn the GFOA Distinguished Budget Presentation Award.

FY 2022 Projected

FY 2023 Estimate

FY 2019

FY 2020

FY 2021

Budget Award

Yes

Yes

Yes

Yes

Yes

Strategic Plan Goal:

Invest in Public Infrastructure, Facilities, and Fiscal Reserves

Department Goal:

The City of Iowa City’s investment objectives are safety, liquidity and yield. The primary objective of the City of Iowa City’s investment activities is the preservation of capital and the protection of investment principal. In investing public funds, the City’s cash management portfolio is designed with the objective of regularly exceeding the average return on the six month U.S. Treasury Bill. The Treasury Bill is considered a benchmark for riskless investment transactions and therefore comprises a minimum standard for the portfolio’s rate of return.

Department Objective:

Performance Measures: Quarterly Return on Investment

FY 2023 Estimate

FY 2019

FY 2020

FY 2021 FY 2022 Projected

First Quarter

1.86% 2.19% 2.38% 2.35%

2.21% 2.03% 1.90% 1.34%

0.91% 0.59% 0.46% 0.39%

0.30% 0.30% 0.35% 0.35%

0.40% 0.40% 0.45% 0.50%

Second Quarter Third Quarter Fourth Quarter

91