HomeMy WebLinkAbout1986-12-16 Info packet of 12/12City of Iowa City
MEMORANDUM
DATE: December 12, 1986
TO: City Council
FROM: City Manager
RE: Information in Friday's Packet
Memoranda from the City Manager:
a. Budget Review
b. Chamber of Commerce Annual Banquet
c• Artwork - Terrill Mill Park
Memorandum from the Planning Staff regarding Plaza Minipark design presenta-
tion.
Memorandum from the Director of Parks and Recreation regarding the proposed -
Iowa City Parks and Recreation Foundation.
Minutes of November 19 meeting of the Wastewater Treatment Project - Staff
Project Management Committee.
Copy of memo from Metcalf & Eddy regarding subcontractors.
COPY of letter from HUD regarding Housing Assistance Plan, ac
News release from Library regarding $125,000 challenge grant.
News release regarding availability of salt/sand mixture for residents.
Memoranda from the Director of Finance:
a. Cash Management and Review
b. Comprehensive Annual Financial Report
c• Management recommendations from McGladre o
y, Hendrickson & Pullen.
Copy of letter from Mary Neuhauser and reply from Library Bd. President
Riley Grimes re library service reductions.
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City of Iowa City
MEMORANDUM
DATE: December 9, 1986
TO: City Council
FROM: City Manager
RE: Budget Review
We have tentatively set Saturday morning, January 11, as our date
for budget review. Please mark your calendar.
cc: Marian Karr
Rosemary Vitosh
Dale Helling
City of Iowa City
MEMORANDUM
DATE: December 9, 1986
TO: City Council
FROM: City Manager
RE: Chamber of Commerce Annual Banquet
Attached is a reservation form for the annual banquet of the Chamber
of Commerce which will be held on January 16 at the Highlander Inn.
Please note that the reservations must be turned in by January 9. You
may give them to Lorraine and she will advise the Chamber office. Please
do so as soon as possible, for I understand that the event "sells out"
quickly.
Also attached is a reservation form for the Legislative Reception to
be held at the Hotel Savery in Des Moines on January 20. These reser-
vations are also due on January 9.
The Officers and Directors '► '
of the
Greater Iowa City Area Chamber of Commerce
invite you to attend the
1986 Annual Banquet
Friday, January 16, 1987
at the
Highlander Inn
6: 00 p. m. cocktails $18.50 per person
7:00 p.m. dinner j
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Upon receipt of this reservation form, you will be sent a name tag(s) that
will serve as your ticket(s) to the event.
Name(s) of all attending
Address
�1 Checks must accompany the reservation form and be returned by January 9, 1987, to:
THE GREATER IOWA CITY AREA
CHAMBER OF COMMERCE
P.O. BOX 2358
t _ IOWA CITY, IOWA 52244
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Legislati,
Reception
The Greater Iowa City Area Chamber of Commerce will be hosting a Legislative Reception at the Hotel
Savery in Des Moines on Tuesday, January 20, 1987, from 5:30 - 7:30 p.m.
IWe invite you and your spouse, along with interested colleagues, to join us.
The price is $30.00 per person for Chamber members and $40.00 for non-members. j
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Please detach and return the form with your check by January 9, 1987, to:
Greater Iowa City Area Chamber of Commerce
P.O. Box 2358
Iowa City, Iowa 32244
Name(s) of all attending
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Address
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Reservations must be accompanied by check.
City of Iowa City
MEMORANDUM
DATE: December 10, 1986
T0: City Council
FROM: City Manager
RE: Artwork - Terrill Mill Park
The metal sculpture donated by First National Bank has been placed,
under the supervision of the artist, in Terrill Mill Park.
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City of Iowa City
MEMORANDUM
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Date: December 10, 1986
To: Iowa City City Council, Committee on Community Needs, Design
Review Committee, Parks & Recreation Commission, Project GREEN,
Interested Citizen £
From: Melody Rockwell, Associate Planner
Re: Plaza Mini -Park Design Presentation
Monday, December 15, 1986
Iowa City City Council Chambers
On October 20, 1986, City planning staff presented recommendations for
redevelopment of the Plaza Mini -Park to Council. These recommendations
were based on comments received by staff at September 1986 meetings with
the Committee on Community Needs, the Design Review Committee, the Parks &
Recreation Commission, Project GREEN and culminating in a public meeting
on September 22, 1986.
Council responded to the staff report on October 20 with the following
stated preferences for the Plaza Mini -Park design:
1. The park area should be consistent in design with the existing and
adjacent Dubuque Street portion of City Plaza.
2. Careful thought should be given to designing the park so that there
are minimal maintenance requirements upon its completion. The place-
ment of structures should allow enough room to operate mechanized
maintenance equipment within the park. A watering system should be
provided.
3. The park should be designed as an open and accessible area with a
minimum of walls.
4. A tree -shaded conversational area should be provided in the southern
part of the park. This area of the park is unlikely to have an active
crossflow of people as it is bounded on two sides by adjacent build-
ings.
5. An open space centered in the northern half of the park should be
designed to serve as a small rally -performance -social gathering area.
The open, possibly circular, space should function as and be provided
instead of a stage.
6. Locked electrical hookups should be installed.
7. The Dubuque Street kiosk should not be moved into the park.
8. Cost estimates for the park redevelopment should be completed by the
architect and presented to Council as part of the design phase of this
project.
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At the December 15, 1986, informal Council meeting, Bill Nowysz will be
-Parpresenting his design proposal for
Nthe
szPlaza
schematic and annotated drawings.) Y developedka design proposaee l
for the park redevelopment in accordance with Council preferences stated
at the October 20, 1986, Council mee37 to ting. Council is being requested to
pset a ublicponithe hproposedfor d 13, 11
esignufor the P1az; Mini-ParkVe comments from the
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parks 8e recreation MEMO department
y, o� Honorable Mayor and
[� Council Members from. Terry G. Trueblood, Director /
Proposed Iowa City Parks and 1
re. Recreation Foundation date: December 10, 1986 /
Attached you will find copies of the Articles of Incorporation and
Bylaws for the proposed Iowa City Parks and Recreation Foundation.
This is a project the Commission has been working on for quite
some time. They would appreciate the opportunity to discuss it
with you at your informal meeting of December 15th, then return
for formal action at your first meeting in January.
city of iowa city
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ARTICLES OF I NCORPORAT ION
OF
IOWA CITY PARKS AND RECREATION FOUNDATION
TO THE SECRETARY OF STATE OF THE STATE OF IOWA:
We, the undersigned, acting as Incorporators of a corporation under the
Iowa NonProfit Corporation Act under Chapter 504A of the Code of Iowa (1985),
adopt the following Articles of Inoorporation for such corporation:
ARTICLE I
The name of the Corporation Is the IOWA CITY PARKS AND RECREATION
FOUNDATION.
ARTICLE II
The period of Its duration Is perpetual.
ARTICLE III
This corporation is organized exclusively for charitable purposes within
the meaning of Section 501(C) of the Internal Revenue Code of 1954, as
amended. These purposes Include, but are not limited to, the Independent
development, enhancement and support of the City of Iowa City's parks,
recreation programs and facilities.
No substantial part of the activities of the Corporation shall be the
carrying on of propaganda or otherwise attempting to Influence legislation and
the Corporation shall not participate In or Intervene in (Including the
publishing or distribution of statements) any political campaign on behalf of
any candidate for public office.
ARTICLE IV
The Corporation shall have all powers available to nonprofit corporations
under Chapter 504A of the Code of Iowa (1985) and specifically the following
powers necessary and convenient to fulfilling the purpose of:
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1. Collection and solicitation of gifts, bequests, grants and devises of
property of any kind, whether real or personal or wherever situated for the
use and benefit of said parks, recreation programs and facllltles.
2. Holding, managing, operating„ selling, exchanging, Investing and
generally dealing with property which may come Into Its possession for the use
and benefits of said parks, recreation programs, and facllltles.
3. Applying, expending and using any or all of Its assets no matter how
received, principal and Incase or either, to the use and benefit of said
parks, recreation programs, and facllltles, with or without restriction.
4. Qualifying for tax exempt status under federal and other applicable
Iaw. J
ARTICLE V
The address of Its Initial registered office Is 150 E. Court Street, Iowa
City, Iowa, 52240 and Its Initial registered agent at such address Is Craig i
Willis.
ARTICLE VI
The affairs of. the corporation shall be managed by a Board of Directors
consisting of the following:
I. Four members, all of wham shall be members of the Iowa City Parks and
Recreation Commission.
2. Not more than'seven, nor less than five additional members, who shall
be Interested persons living In the area served by the City of Iowa City's
parks, recreation programs and facllltles.
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3. The Initial Board of Directors shall be composed of three members of
the Iowa City Parks and Recreation Commission, as follows:
Dlrectn[ AAAreee
Daryl HenryrY 1280 Esther Court
I
Iowa City, Iowa 52240
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Mary Weldeman 310 Savings and Loan Bldg.
Iowa City, Iowa 52240
Craig Willis 150 East Court Street
Iowa City, Iowa 52240
The Initial board of directors shall serve until the first annual meeting
of the Corporation.
4. The manner of election as well as the terms of the members of the
Board of Directors shall be determined and established by Bylaws to be adopted
by the corporation.
ARTICLE VI I
i The Annual Meeting of the Corporation shall be during the month of
October of each year, as determined by the Board of Directors.
ARTICLE VI II
Upon the dissolution of the Corporation In accordance with the provisions
of the Iowa Nonprofit Corporation Act, the property and assets of the
Corporation, both real and personal, shall after payment of all debts, be sold
or disposed of as the members of the Corporation may direct In the Articles of
Dissolution, provided, however, that such sale or disposition shall only be
made to such organization or organizations organized and operated exclusively
for charitable purposes as shall at the time qualify as an exempt organization
or organizations under Section 501(c)(3) of the Internal Revenue Code of 1954,
as amended, or the corresponding provision of any future United States
Internal Revenue law.
ARTICLE IX
The corporation shall have no members and shall Issue no shares of stock
or certificates of membership.
ARTICLE X
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This corporation shall have no corporate seat.
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ARTICLE XI
The names and addresses of the Incorporators are:
Ineorporator Address
Craig Willis
Daryl Henry
Mary Weldeman
Bill Stelnbrech
John Watson
Cindy Alvarez
Karen Hradek
Ann Hesse
Randy Jordlson
150 East Court Street
Iowa City, Iowa 52240
1280 Esther Court
Iowa City, Iowa 52240
310 Savings and Loan Building
Iowa City, Iowa 52240
404 Magowan
Iowa City, Iowa 52240
403 Elmridge Avenue
Iowa City, Iowa 52240
3122 Maplewood Lane
Iowa City, Iowa 52240
924 Hudson Avenue
Iowa City, Iowa 52240
353 Lexington Avenue
Iowa City, Iowa 52240
2004 Rochester Court
Iowa City, Iowa 52240
IN WITNESS WHEREOF, the undersigned have set their hands this _ day of
. 1986.
Craig Willis
Daryl Henry
Mary Weldeman
John Watson
Karen Hradek
Randy Jordison
STATE OF IOWA )
ss:
JCHNSON COUNTY )
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B I I I Ste lnbrech
Cindy Alvarez
Ann Hesse
On the_ day of 1986, before me, a Notary Publ Ic
In and for the State of Iowa, personally appeared Craig Willis, Daryl Henry,
Mary Weldeman, BIII Stelnbrech, John Watson, Cindy Alvarez, Karen Hardek, Ann
Hesse and Randy Jordlson, tome personally known to be the persons who
executed the above and foregoing Articles of Incorporation and acknowledged
the execution of the same to be their own voluntary acts and deeds.
Notary Pub] Ic In and for
the State of Iowa
BYLAWS
OF
IOWA CITY PARKS AND RECREATION FOUNDATION
RTI I
Off Ices
Section I. The principal office of the Corporation in the State of Iowa
shall be located In the County of Johnson. The Corporation may have such
other offices, either within or without the State of Iowa, as the Board of
Directors may designate or as the business of the Corporation may require from
time to time.
Section 2. The registered office of the Corporation required by the Iowa
Nonprofit Corporation Act to be maintained In the State of Iowa may be, but
need not be, Identical with the principal office in the State of Iowa, and the
address of the registered office may be changed from time to time by the Board
of Directors.
Section I. general P xA ems. The business and affairs of the Corporation
shall be managed by Its Board of Directors.
Section 2. Number Tenure and Ouallflca+Ions. The Initial Board of
Directors shall consist of three members of the Iowa City Parks and Recreation
Commission. This Initial Board of Directors shall serve until the first
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annual meeting of the Corporation at which time their successors shall be
appointed. The number of Directors of the Corporation from the time of the
first annual meeting of the Corporation and for the duration of the existence
of the Corporation shall be no less than nine and not more than eleven. The
Board of Directors shall consist of four members, all of whom shall be members
of the Iowa City Parks and Recreation Commission appointed by the Chairperson
of said Canmission along with not more than seven nor less than five
additional members, who shall be Interested persons living In the area served
by the City of Iowa City's parks, recreation programs and facilities, and who
shal I be selected by a majority vote of the members of the Parks and
Recreation Canmission. A Director may resign at any time by f11Ing a written
resignation with the recording or corresponding Secretary of the Corporation.
Except for the terns beginning in October of 1986, directors shall take
office Immediately after their appointment and shall serve for a term of three
(3) years or until his or her successor shall have been elected and shall have
qualIf led, or untlI his/her death or until he/she shall resign. For the nine
directors selected In October 1986, three (Including 2 Parks and Recreation
Commission Members) shall serve for 3 years; three (Including 1 Parks and
Recreation Commission Member) shall serve for 2 years, and three shall serve
for one year. No Director shall serve for more than three consecutive terms.
Vacancies arising In directorships filled by Parks and Recreation Commission
Members shall be filled by appointment by the Chairperson of said commissions,
while vacancies In directorships filled by community members shall be filled
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by majority vote of the Parks and Recreation Commission.
The Board of Directors may, from time to time, determine that additional
Directors shall be required for the Corporation and shall so authorize the
additional Directors being appointed. The appointment shall be made In
accordance with Article II, Section 8 of these Bylaws.
Section 3. ReDular Naet^e, A regular meeting of the Board of
Directors shall be held without other notice than this Bylaw during the month
of October of each year, as determined by the Board of Directors. The
meetings shall be open to the public and the public shall be encouraged to
attend. The Board of Directors may provide, by resolution, the time and
place, either within or without the State of Iowa, for the holding of
additional regular meetings without other notice than resolution.
Section 4. 1peelal M1larptlny . Special meetings of the Board of Directors
may be called by or at the request of the President or any two Directors. The
person or persons authorized to call special meetings of the Board of
Directors may fix any place, either within or without the State of Iowa, as
the place of holding any special meetings of the Board of Directors called by
them.
Section 5. Nm . Notice of any special meeting shall be given at
least forty-eight (48) hours previously thereto by written notice delivered
personally or mailed to each Director at his/her business address or by
telegram. If mailed, such notice shall be deemed to be delivered when
deposited In the United States mail so addressed,wlth postage thereon prepaid.
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If notice Is given by telegram, such notice shall be deemed to be delivered
when the telegram Is delivered to the telegraph company. Whenever any notice
whatever is required to be given to any Director of the Corporation under the
Articles of Incorporation or Bylaws or any provision of law, a waiver thereof
In writing, signed at any time whether before or after the time of meeting, by
the Directors entitled to such notice, shall be deemed equivalent to the
giving of such notice. The attendance of a Director at a meeting shall
constitute a waiver of notice of such meeting, except where a Director attends
a meeting and objects thereat to the transaction of any business because the
meeting is not lawfully called or convened. Neither the business to be
transacted at, nor the purpose of, any regular or special meeting of the Board
of Directors need be specified in the notice or waiver of notice of such
meetings.
Section 6. Oporpm. A majority of the number of Directors fixed by
Section 2 of this Article II shall constitute a quorum for the transaction of
business at any meeting of the Board of Directors, but if less than such
majority Is present at a meeting, a majority of the Directors present may
adjourn the meeting from time to time and set the reconvening of the next
meeting without further notice.
Section 7. Manner of Actino. The act of the majority of the Directors
present at a meeting at which a quorum Is present shall be the act of the
Board of Directors, unless the act of a greater number Is required by law or
the Articles of Incorporation.
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Section 8 . Presumption of Assent. A Director of the Corporation who Is
present at a meeting of the Board of Directors at which action on any
corporate matter is taken shall be presumed to have assented to the action
taken unless his/har dissent shall be entered In the minutes of the meeting or
unless he/she shall file his/her written dissent to such action with the
person acting as -the Secretary of the meeting before the adjournment thereof,
or shall forward such dissent by registered mall to the Secretary of the
Corporation Immediately after the adjournment of the meeting. Such right to
dissent shall not apply to a Director who voted in favor of such action.
Section 9. Informal Action Without Meeting. Any action required or
permitted by the Articles of Incorporation or the Bylaws or any provision of
law to be taken by the Board of Directors at a meeting or by resolution may be
made without a meeting If a consent in writing setting forth the action so
taken shall be signed by all of the Directors then In office.
Section 10. Executive Committee. The officers of the corporation, as
set forth In Article 111, Section 1 of these By laws, shal I constitute an
executive connIttee and the executive committee shall have the power to act on
behalf of the Corporation at any time between meetings of the Board of
Directors. The executive committee shall have the power to form Standing and
Special Committees at Its discretion by resolution and to appoint the members
for said committees.
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Section 1. Number. The officers of the Corporation shall be a
President, Vice President, Recording Secretary, Corresponding Secretary and
Treasurer, each of whom shall be elected by the Board of Directors. All
officers of the Corporation shall be chosen by and from among the members of
the Board of Directors. If required by the Board of Directors, the officers
shall give a bond for the faithful discharge of their duties In such sum and
with such surety or sureties as the Board of Directors shall determine.
Section 2. Election and Term of Office. The officers of the Corporation
to be elected by the Board of Directors shall be elected by the Board of
Directors at the annual meeting. If the election of officers shall not be
held at such meeting, such election shall be held as soon thereafter as
conveniently may be. Each officer shall hold office until his/her successor
shall have been duly elected and shall have qualIfled or untlI his/her death
or until he/she shall resign or shall have been removed In the manner
hereinafter provided.
Section 3. Removal. Any officer or agent elected or appointed by the
majority of the Board of Directors may be removed by the majority of the Board
of Directors whenever In its judgment the best Interests of the Corporation
would be served thereby. Any officer or agent elected or appointed by the
Board of Directors and who Is absent from three (3) meetings of the
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Corporation shall be dismissed by action of the President or, In the
alternative, upon a motion introduced and seconded by members of the Board of
Directors.
Section 4. Vacancie=_. A vacancy In any office because of death,
resignation, removal, disqual if ication, or otherwise, may be f 11 led by the
Board of Directors for the unexpired portion of the term.
Section 5. President. The president shall be the principal executive
officer of the Corporation and, subject to the control of the Board of
Directors, shall In general supervise and control all of the business and
affairs of the Corporation. In general he/she shall perform all duties
Incident to the office of President and all such other duties as may be
prescribed by the Board of Directors from time to time.
Section 6. Vice Pregldent. In the absence of the President or In the
event of his/her death, Inability or refusal to act, the Vice President shall
perform the duties of the President, and when so acting, shall have all the
powers of and be subject to all the restrictions upon the President.
Section 7. Recording Secretary. The Recording Secretary shall (a) keep
the minutes of the Board of Directors meetings In a book provided for that
purposes (b) see that all notices are duly given In accordance with the
provisions of these Bylaws or as required by lar; (c) file the Annual Report
with the Office of the Secretary of State; and (d) In general, perform all
duties Incident to the office of the Recording Secretary and such other duties
as from time to time may be assigned to him or her by the President or by the
Board of Directors.
Section 8. Corresponding Secretary, The Corresponding Secretary shall
(a) handle all correspondence for officers of the Corporation; (b) handle all
donation receipts and acknowledgments; (c) handle all thank you letters; (d)
In general, perform all duties Incident to the office of the Corresponding
Secretary and such other duties as from time to time may be assigned to
ihim/her by the President or by the Board of Directors.
Section 9. Treasurer, The Treasurer shall In general perform all of the
duties Incident to the office of Treasurer and such other duties as fran time
to time may be assigned to him/her by the President or by the Board of
Directors.
ARTICLE IV
Contracts. Loans. Checks and D poslts
Section 1. Contracts, The Board of Directors may authorize by
resolution any officer or officers, agent or agents, to enter Into any
contract or execute and deliver any Instrument In the nane of and on behalf of
the Corporation, and such authority may be general or confined to specifto
Instances.
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Section 2, Loans. No loans shall be contracted on behalf of the
Corporation and no evidences of Indebtedness shall be Issued In Its name
unless authorized by a resolution of the Board of Directors. Such authority
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may be general or oonfined to specific Instances.
Section 3. Checks, Drafts. at". All checks, drafts or other orders for
the payment of money, notes or other evidence of Indebtedness Issued In the
name of the Corporation shall be signed by such officer or officers, agent or
agents of the Corporation and In such manner as shall from time to time be
determined by resolution of the Board of Directors. In no event shall the
number of signatures required by the Board of Directors be less than two (2).
Section 4. Deooslts. All funds of the Corporation not otherwise
employed shall be deposited frau time to time to the credit of the Corporation
In such banks, trust companies or other depositories as the Board of Directors
may select.
The fiscal year of the corporation shall begin on the first day of July
and end on the 30th day of June in each year.
Section 1. The Corporation shall Indemnify and hold harmless each member
of the Board of Directors and officer now, heretofore or hereafter serving the
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Corporation, and the heirs, executors, administrators and personal
representatives of such Directors and officers, from and against all costs and
expenses which may be Imposed upon or Incurred by them in connection with or
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resulting from any claim, demand, action, suit, prosecution, administration or
Court proceedings, In which the or any of them may be Involved be reason of
any which Director or off leer having been a Director or officer of the I.
Corporation, whether or not he or she continued to be a Director or officer at
the time such costs and expenses are Imposed or incurred. As used herein, the
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tern "costs and expenses" shall Include, but not be limited to, counsel fees,
costs of investigation and preparation, amounts of Judgments, decrees, fines
or penalties against and the amount paid In settlement by any such Director or i
officer, provided, however, that no such Director or officer shall be
Indemnified.
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(a) with respect to any matter as to which such Director or officer
shall, In any action, suit or proceeding, be finally adjudged
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guilty of negl igent or wil Iful misconduct In the performance of f
his or her duties as a Dlrector or off Icer, or j
(b) In the event of settlement of any such cl alm, demand, action, suit
or proceeding unless: (1) such settlement shal I with the
knowledge of the Indemnification provided for hereby, be approved
by the Court having jurisdiction of such action, suit or
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proceeding or by any other Court of proper Jurisdiction In an
appropriate action, or III) such settlement shall have been
determined by the Board of Directors and/or the Executive
Committee to be for the best Interest of the Corporation and shall j
have been made upon the written opinion of legal counsel selected
by or in a manner determined by the Board of Directors and/or the
Executive Committee to the effect that there Is no reasonable L:
ground of Ilablllty for negllgence or willful misconduct on the ! ,
part of such Director or officer and that the entire cost of such
settlement will not substantially exceed the estimated cost of
defending such claim, action, suit or proceeding to a final
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concl uslon.
Section 2. The foregoing right of Indemnlflcatlon shall not be deemed
exclusive of any other right to which such Director or officer may otherwise
be entitled and shall Inure to the benefit of his or her heirs, executors,
administrators and personal representatives. The Corporation shall have the
right to Intervene In, defend, hire counsel and Incur reasonable expense In
the defense of all such actions, sults, proceedings or claims brought or
asserted against any such Director or officer of the Corporation arising out
of his or her acting or having acted as such Director or officer.
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ARTICLE VII
Donations �I
The Board of Directors and the officers of the Corporation reserve the .
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exclusive right to accept or reject donations of property in their sole
discretion.
ARTICLE VIII
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Amendments !'
These Bylaws may be altered, amended or repealed and new Bylaws may be
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adopted by the Directors of the Corporation at any meeting, subject to prior
notice. I
ARTICLE IX
This Corporation shall have no corporate seal.
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Secretary
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ARTICLE VII
Donations �I
The Board of Directors and the officers of the Corporation reserve the .
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exclusive right to accept or reject donations of property in their sole
discretion.
ARTICLE VIII
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Amendments !'
These Bylaws may be altered, amended or repealed and new Bylaws may be
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adopted by the Directors of the Corporation at any meeting, subject to prior
notice. I
ARTICLE IX
This Corporation shall have no corporate seal.
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Secretary
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SUMMARY
WASTEWATER TREATMENT PROJECT
STAFF PROJECT MANAGEMENT COMMITTEE MEETING
NOVEMBER 19, 1986
STAFF MEMBERS PRESENT: Schmadeke, Vitosh, Helling, Boren & Brinton
OTHERS PRESENT: Loren Leach, Metcalf & Eddy
SUMMARY OF DISCUSSION:
The Committee discussed the public relations program and reviewed and
refined topics to be presented and methods to be utilized. It was suggested
that area -specific topics be addressed at neighborhood meetings and a
general overview of the project be presented in the brochure. Helling
listed a number of topics to be presented in the brochure and formatting
was discussed. Leach indicated that Metcalf & Eddy will be available to
the public relations effort in whatever capacity the City desires. Helling
will draft an outline of the brochure and Committee members will provide
specific information on topics in draft form for review and refinement
at the next meeting.
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City of Iowa City
MEMORANDUM
Date: November 20, 1986
To: Wastewater Project Management Committee
From: Dale Hellin
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Re: Tentative Outline for Informational Brochure
Below is the tentative outline we discussed at our November 19 meeting. This
is simply meant to be a working outline to assist us in formulating the
narrative for various aspects of the brochure. Please feel free to suggest
any changes, additions, deletions, etc:
A. Overall Project Identification
1. Brief description
2. Project schedule
3. Intended results/goal
B. Component Identification
1. Brief description of each
2. Intended result/goal of each
3. Schedule for each
C. Reasons/Rationale for Project
1. Specific benefits
2. History of growth and planning for future growth
3. Age of existing plant and transportation systems
4. Capacity issues (loading, surcharging, etc.)
5. Environmental issues (clean river, federal requirements, etc.)
6. Incidental benefit(s) (Parks and Recreation complex)
D. Financial Issues
1. Funding source (history of federal funding and loss to Iowa City,
etc.)
2. Cost information (capital cost and operating expenses)
3. Rate history
4. Current rate information
5. Projected rate increases
6. Rate comparisons
bj4/11
.7DO/
T
FILE: J - 2106
T0: Staff Program Management
Committee
FROM: Loren Leach
RE: Subcontractors
MEMORANDUM
DATE: December 10, 1906
OFFICE: Iowa City
COMPANY: Inc.
At this time MAE has subcontract agreements with Shive - Hattery,
MMS, and Shoemaker a Eaaland. These contracts are valued at
$750,000. Additional contracts will be entered into for soil
borings, and survey work.
I
FILE: J - 2106
T0: Staff Program Management
Committee
FROM: Loren Leach
RE: Subcontractors
MEMORANDUM
DATE: December 10, 1906
OFFICE: Iowa City
COMPANY: Inc.
At this time MAE has subcontract agreements with Shive - Hattery,
MMS, and Shoemaker a Eaaland. These contracts are valued at
$750,000. Additional contracts will be entered into for soil
borings, and survey work.
0
AECEIVEONOV 26198
NOV 2 4 1986
Mr. Stephen J. Atkins
City Manager
Civic Center
410 East Washington
Iowa City, IA 52240
Dear Mr. Atkins:
u5. W"An" of Mankig and udun Dmi pmeM
Omaha Office, Region VO
Breiker/Brandeis Building
210 South 18th Street
Omaha. Nebraska 66102.1622
r�
i
This office has reviewed the annual goal for the second year of
the three year Housing Assistance Plan (HAP). The second year goal for
the HAP is consistent with the three year plan and is acceptable.
In reviewing the performance report for first year accomplishments,
it is noted that Iowa City has made excellent progress in achieving its
three year goal.
A copy of the approved HAP is enclosed for your records.
Should you or your staff have any questions, please contact
Ms. Patricia McCauley, Community Planning and Development Representative,
at 402/221-3809.
Enclosure
cc:
Ms. Marianne Milkman
/,, �Sincerely, Q y �J
� 3s GIG�lZr'nt�
J'—Ma M. Massey
Q Manager
007
W
UA DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
COMMUNITY DEVELOPMENT SLOCKGRANTPROGRAM
I -N &X9"`MWNU3AOD 1Y O;jgQOO1j
Cityt/
of Iowa CiACT7
ENTITLEMENT PROGRAM
HOUSING ASSISTANT PLAN
B—
g
7—
M CI -11
1 91-10
1 0
0
9
e. nAsoO OF APPUCAIILITY4.
•INR
tueumnoN
e.
HUDAPRROVAL
FRO46 10-1-86 TOI 9-30-81
Uoripinel []Revision []Amendment
Cal W2
03
IA.y
JAV ua
r
• INCORPORATION OF HAP, PARTS I - III, BY REFERENCE. Parte 1,11 and III of the HAP approved Nnyalnhar
14.
5R5
In IReorpereted by rifalanoe asd Bra not contained In this (scold) ki/AIB Yew submission. (Latest ants al"ont date M the NAP, Ina l A ill, Nany:
1
PART IV. ANNUAL HOUSING ASSISTANCE GOALS
PROGRAM OR PROJECT
UNITS TO BE ASSISTED
LOWER INCOMI HOUSIHOLDS TO Be ASSISTED
Let AIrIrM AMeeINOMMPIHEIMIP/nL/Imenw Romm
HUD NUMBEROF
HOUSING
ILDIRLY
SMALL
LAROI
TOTAL
J101100nlr0an11r re
IAMILY
/AMILY
Rental Programs
A. HUD Assisted
1. Section 8 free standing certificates
X 25
Existing
10
10
5
25
2. Rental Rehabilitation vouchers
X 6
Rehab.
4
2
6
B. CDBG Assisted
1. Rental Rehabilitation
30
Rehab.
-
25
5
(530
2. Group Home for low income disadvantaged
10
Rehab.
-
10
-
10
and troubled youth.
Owner Programs
A. CDBG Assisted
1. Comprehensive Rehabilitation
7
Rehab.
4
2
1
7
2. Home Improvements
a. Neatherization
1
Rehab.
-
1
-
1
b. Paint Program
10
Rehab.
2
5
3
10
c. Residential Accessibility Grant
8
Rehab.
8
-
-
8
d.. Housing Modifications for low -moderate
20
Rehab.
20
-
-
20
income frail elderly.
IODUCED AT GOVERNMENT EXPFNSF
HUO70B1.7110
121
174 CFR 5701001
NEWS Iowa city
Public Library
123 South Linn Street • loud City, L4 52240 • phorne.c�00
RELEASE.' Embargoed - CONTACT: Lolly Eggers, DATE: December 9, 1986
Thursday, December 11, 1986 Library Director
5:30 PM C.S.T.
IOWA CITY PUBLIC LIBRARY AWARDED $125,000 by NEN
IOWA CITY, Iowa--The Iowa City Public Library has been awarded a I.
challenge grant of $125,000 by the National Endowment. For the Humanities,
it was announced today_ I I
i
The challenge grant must be matched with $375,000 in private
i
funds raised by the Iowa city Public Library Foundation. Library
Director Lolly Eggers said that the library is already working to raise I "
i
- the matchinu money through its million-dollar- Bicentennial Endowment Fund.
Some $200,000 of the matching funds have already been raised and the
library has until 1990 to raise the additional 5175,000.
i
"The grant is a cornerstone of the endowment fund, and interest
eii l l be
from tl7e $SOD)Out] that the grant and matching funds provides used annually
to purchase materials and provide programs in the humanities, "Eggers said.
"We are extremely pleased that. the NEH recognized not drily the value of
the library as a humanities institution, but the special nature of this
library and this community."
The grant was awarded to help strengthen the financial resources
of the library and improve the library's ability to maintain and incre.:�se
j its programs and collections. Eqgers stressed that the money cannot be
used to hire _staff, so it will not solve the library's current budget.
i
problem that is forcing it to close Thursday evenings and all day Fridays
beginning in March.
To win the grant, Eggers and the Library Foundation Board of
Directors argued that America's public libraries are often the only
(CONTINUED) �O0
7
(Iowa City Public Library awarded $125,000 by NEH--2)
humanities institutions .in their communities. These ;;,000 public
Public libraries throughout the United States help build lifelong interest
in the disciplines of the humanities for the adults they serve and foster -
the intellectual development of children who may became tomorrow's
humanities teachers and scholars.
"Our library serves as a model for small and medium sized
American libraries," Eggers said. "In addition, the many people educated
in Iowa City take not. only their- University degrees out into the world,
but the ideas and the spirit they see represented in this library as well.
%The NEH must have been confident that this was a good investment.
They understood that support for the humanities in Iowa City would have a
broad influence on support for the humanities in public libraries across
the country," Eggers said.
Only 41 institutions in 22 states received challenge grants this
year from the NEH. There were no others granted in Iowa and only one
other- to a public library --in Providence, Rhode Island, for refurbishing -
its historical building. Eggers said the funding agency in each of the
Past two years has given one challenge grant to a public library for
programs or- collection building and one for restoration of a building.
"Many of the libraries that. have received grants in the pastt have
been in larger cities such as Tulsa, Ft.. Wayne, Baltimore, and Denver.
We're pleased that the NEH chose a smaller library --our library --for this
recognition of our• community."
The Iowa City Public Library Foundation is starting immediately
on the campaign to raise the remaining 2175,000 according to Nancy Willis.
President of the Foundation. "The sooner we raise the matching funds
(CONTINUED)
(10wa City Public Library awarded 1125,000 by NEH---:3)
the sooner all the money can go to work to benefit the library. We hope
to be giving the library annual interest checks ofd 50,000 by 1990
"We need all Iowa City residents to be aware of this opportunity
to strengthen the library's resources," Willis said. "Letters about the
grant award are being mailed this week to all library car•dholder-s.
Foundation contributors and potential contributors."
The Centennial Endowment Fund co-chairs Ann Feddersen and Randall
Bezanson are asking library cardholders to consider a gift to the library
and Chalmers ("Bump") and Barbara Eliott have sent a similar request to
the business community.
All contributors to the Centennial Fund will receive Permanent
recognition in the library. Questions about contributions should go to
Pat Forsythe, Foundation Executive Director-, at. the Public library.
�0e�
I'
i
i
L,
i
I
a
f �
I L
FROM GRANT APPLICATION - IOWA CITY PUBLIC LIBRARY
INTRODUCTION
Small and medium-sized public libraries are the basic humanities institutions
in most areas of this country, serving the generalist, building political
and fiscal support for the humanities and fostering the development of future
humanities scholars. The Iowa City Public Library is one of the best of
these libraries.
Iowa City has capitalized an the resources and attitudes which abound in a
highly -educated, culturally active, university dominated community to develop
an innovative library program. The Library combines carefully chosen print
and non -print collections with stimulating displays, programs and promotional
activities, and delivers them from a facility that integrates modern informa-
tion technologies with living roan comfort and informality. This combination
has attracted over 80 percent of Iowa City residents as regular users and has
gained the attention of the library community nationwide. The Iowa City
Public Library has become a model for the small and medium-sized library
-frequently visited and regularly consulted by other communities.
The Library's success at generating citizen involvement and participation in
its program and citizen use of the library has brought its strong humanities
programs and materials to a broad spectrum of the community. Dramatic in-
creases in use, however, coupled with the squeeze of inflation, limited local
resources and a lagging state economy have weakened the Library's ability to
maintain its outstanding and often emulated programs.
Page 2
Page
The Library Board is determined to continue the Library's quality services
j and leadership position and has been developing supplemental sources of
income for the library for the last several years. The Iowa City Public
Library Foundation's Centennial Endowment Fund is its most ambitious project
so far. Using a $125,000 Challenge Grant as the cornerstone of its plan, the
library will build a $500,000 Fund for the Humanities by 1990 and aims for a
$1 million endowment by 1996, the year of the Library's centennial.
The Challenge Grant will assure that permanent income is available for hu-
manities materials and services. It will help dramatize the specific fiscal
needs of the Iowa City Public Library and stimulate local contributions. It
will acknowledge the importance of quality small and medium-sized libraries
in the network of humanities institutions. It will allow Iowa City to con-
tinue to serve as a model library - one that has forged a link between
current public interests, modern technology and the humanities in a way that
strengthens the humanities by strengthening the most basic of humanities
institutions.
�oA�
CITY OF IOWA CITY
CIVIC CENTER 410 E. WASHINGTON ST. IOWA CITY, IOWA 52240 (319)356-500C)
November 25, 1986
NEWS RELEASE
M,1n Contact Person:
Bud Stockman
Superintendent of Streets
Phone No. 356-5181
Iowa City residents who are in need of salt/sand mix for
deicing sidewalks and driveways now have this mixture available at
two locations in Iowa City. The City Streets Division has placed
a supply at the lower entrance to City Park and at the entrance to
Mercer Park.
This salt/sand mixture is being made available for Iowa City
residential properties only. Residents will need to supply their own
shovel and container for transporting the mixture.
City of Iowa City
MEMORANDUM
Date: December 11, 1986
To: City Council
From: Rosemary Vitosh, Director of Finance
Re: Cash Management and Review
McGladrey, Hendrickson and Pullen have completed their review t
provided in tof the City's
cash and cash related processing activities. This cash management review was
authorized the City Council last spring. The results of the review are
he attached report. The Department of Finance has reviewed the
recommendations and will consider implementation of several of the items.
The following discusses each item listed on the summary on page 7 of the
report.
1. Early Accounts Payable:
It is my intention to eliminate early accounts payable items. implemen-
However,
it will require data processing revisions which will delay the
tation for a few months.
2. Timely Payroll Tax Payments:
The City Controller has already given attention to more timely payments
of payroll -related taxes by scheduling check dismissals more closely to
the due dates. Since the penalty risk for late payment for just one
payroll period far exceeds the potential annual savings, we will still
continue to make payment a few days early. This will reduce the pro-
jected savings, however, it will also minimize the risk of accruing any
penalties.
3. Excess Bank Balances:
The City Treasurer has already been working with the local banks to
establish "sweep" accounts, whereby all of the City's funds remain in an
investment account that provides the maximum interest rate available. On
a daily basis, the bank automatically transfers, to the sweep account,
only the funds necessary to cover any transactions that cleared the sweep
account that day.
4. Delayed Deposits:
Same day deposit of the majority of the City's cash receipts does already
occur throughout the City. Preliminary reviews for those areas mentioned
in the report indicate that the labor investment required is excessive in
comparison to the minimal savings that would be generated. Therefore
such action is not justified. Alternatives for the substation collec-
tions are being reviewed.
d
M
Page 2
5. CDBG Collections:
A more timely drawdown of Community Development Block Grant funds is also i
dependent on data processing revisions. It should be mentioned that
approximately two years ago the Controller converted the drawdown proce-
dure from requesting funds once a month for reimbursement of the prior
month's expenses to a current reimbursement which now occurs three times
each month. Additionally, according to recent correspondence from the
U.S. Treasury Department, electronic transfer of these funds is scheduled j
to begin in the next six months. This will reduce the turnaround time at
the Federal level from five days to one day.
I
6. Blue Cross Payments:
The City Controller has already taken action to reduce the advance pay-
ment time for the health insurance (Blue Cross/Blue Shield) payments by
scheduling check dismissals more closely to the due dates.
7. U. of Iowa Fire Protection:
Billing the University on a monthly basis will require further review of
the current agreement with the University.
B. Project Payout Schedules: j
This item is not mentioned in the susmary but was reviewed briefly on
page 2 of their report. Implementation of this is a high priority and
will be established through a joint effort with the Public Works Depart-
ment. The cash savings from such action for the Wastewater Treatment
Facility Project alone could be substantial.
It is my opinion that the cash management review has been beneficial for the
City. No major problems were found with our cash management procedures and
this can only be reassuring to management, the City Council and the taxpay-
er s.
/sp
MMCGLADREY
Hendrickson
& Pullen
CERTIFIED PUBLIC ACCOUNTANTS
Dns. Rosemary Vitosh
Director of Finance
City of Iowa City
Civic Center
Iowa City, Iowa 52240
IntCTnatiOMBY
DUNWOODY ROBSON AICGLADREY&PULLEN
November 1, 1986
We enjoyed working with the members of your staff during our recent cash
management review. We are pleased to report that currently some excellent
cash management techniques are in place. In fact, many improvements which
we normally recommend to clients are not included in this report since
they are presently practiced. Our review and analysis did identify some
areas where the City of Iowa City's revenues can be increased through the
implementation of various additional cash management techniques. This
letter summarizes our analysis and details the recommended improvements
and their expected benefits.
We identified an estimated average annual funds improvement of $962,820
during our review. Potential annual revenues which could result from
investing the additional cash balances range from $49,040 to $50,680.
Although these figures are an estimate, our analysis and experience
indicate that such savings are achievable.
Outlined below are the areas of improvement and their estimated benefit
levels. [Based on July 1985 through March 1986 transactions and interest
rates at June 5, 1986 (the date which we completed field work), of 6.058
(which is your current earnings rate on the investment pool HiFi account)
and 6.318 (which is your current interest rate on 90 -day certificates of
deposit at First National Bank),]
Elimination of e: iv acro+n s arable tt will allow the City of
Iowa City the use of their funds for as long as possible, without
unfavorably impacting relationships with suppliers. Currently,
accounts payable checks are mailed to the payees once prepared.
Our analysis of recent check registers showed that 32.96% of the
items paid were mailed from 1 to 24 days prior to vendor specified
due dates, with a calculated average of 8.14 days early. Holding
prepared disbursement checks and mailing them to meet the vendor's
due date, as opposed to sending then all out when prepared, could
result in $189,820 of annual additional available funds, or from
$11,480 to $11,980 of annual savings.
To. 6, lDnn Al,rcha,,& Xalionnl/Innk (tdld,ng. Crdar&ptda, law 52.101, l7L019G09i01
�' OOir
Timely navment of Rgvroll relat9d taxes will also allow the City
of Iowa City to use their funds for as long as possible. Our
analysis of federal, social security, IPERS and state payroll tax
payments showed that, on the average, the payments are being made
1.20, 3.79, 9.43 and 7.91 days respectively, prior to the date
specified. Implementation of this recommendation could
potentially generate $97,120 of annual additional available funds,
or from $5,890 to $6,130 of annual savings.
Timely navment of Blue Cross cILM-Payments will also allow the
City of Iowa City to use their funds for as long as possible. Our
analysis of claim payments showed that, on the average, the
Payments are being made 3.04 days prior to the date specified.
Implementation of this recommendation could potentially generate
$11,500 of annual additional available funds, or from $700 to $730
of annual savings.
PrOdect DWOUt Schedules should be set up and maintained for all
contractors. Currently the contractors have some flexibility as
to the timing of check requests and subsequent payment dates. By
having all project payouts on one particular check run during any
given month, the personnel involved in investing the City's funds
would be better able to project the cash needs of the City. we
recommend that all contracts include uniform payment schedules.
This recommendation should be discussed internally as to its
feasibility.
r4celpts
* @illina The Univ of rn
----�7.�Y �. unto ba is for the fire
Protection contract will allow the City of Iowa City to obtain
faster use of their funds. The billing is currently being sent to
The University of Iowa two and one half months after the fiscal
year end of the City. The current contract should be amended to
allow for monthly billing. The annual charge could be estimated
on a monthly basis and adjustments could be made after year end.
k Implementation of this recommendation would allow the City of Iowa
City to obtain availability of these funds several months
f earlier. This could result in $294,180 of annual additional
available funds, potentially yielding from $17,800 to $18,560 in
annual savings.
-2-
* A more timely draw down on the Community Development Block Grant
will allow the City of Iowa City to obtain faster use of their
funds. Currently the City draws down on the CDBG three times a
month (one day after each disbursement run). The money could be
requested and held up to ten days in advance of the disbursement.
It has been estimated that there is a five-day turn around time
between the date of the request and date of receipt of the funds.
The draw downs should be estimated and requested six days before
the disbursement date. implementation of this recommendation
would allow the City of Iowa City to obtain availability of these
funds six days earlier. This could result in $32,890 of annual
additional available funds, potentially yielding from $1,990 to
$2,080 in annual savings. The cost associated with this
recommendation would be $-0- if an adequate estimation of
expenditures can be made.
Same day deposit of receipts will allow the City of Iowa City
to obtain faster use of their funds. Our examination of daily
deposit records shows that occasionally delays can occur between
the date the receipt is received and the date the deposit is
prepared and received by the bank. This delay occurs in the
following departments:
5:30 P.M. each day will allow the City of Iowa City to obtain
faster use of their funds. The landfill deposit is currently
being deposited into Iowa State Bank's night depository
around 5:30 P.M. daily. This deposit is not credited to your
account until the following day. If the deposit was made to
a money market account at First National Bank before 5:30
P.M., the bank would allow same dayavailability on the
deposit. The recreation department deposit is currently
being made the day after the receipt of the funds. This
deposit could be made to First National Bank by 5:30 P.M. and
availability would be improved by one day. Implementation of
these recommendations could result in $490 and $1,000
respectively of annual additional available funds,
potentially yielding $30 for the landfill and $60 for the
recreation department in annual savings. There would be no
additional costs involved in the implementation of these
recommendations.
-3-
j7oloL
*
me ramp supervisor �- --
responsible for making this deposit.
increase the availabil
ity of s deposit would
these Thi
funds by one day.
Implementation of this recommendation could result in $840 of
annual additional available funds, potentially Yielding
of savings. g $50
iJ * The l;brary receiptsare taken to the City Treasurer's
office once a week. These deposits should be
made Elimination of this delay can result in $1,550 Of daily.
additional available funds, Potentiall annual
$100 of savings. Y Yielding from $90 to
* The Utii;�.
daily basis. These substationsaandre ntheirot lnaverage days
de on a
delay in deposits are as follows:
Pearsons 5 days delay
Randalls 3 days delay
HYVee 5 days delay
Drugtown #1 3 days delay
Notts 2 days delay
Drugtown #2 5 days delay
Elimination of these delays can result in $4,650 of annual
. additional available funds, Potentially yielding from $280 to
$290 of savings. The implementation of this recommendation
has not been discussed with the substations and is not known
if it is feasible. Therefore, the savings amounts have not
been included in the total savings amounts as stated on
+ page 1 and elsewhere in this report.
I * %a transit snhet
on a dailybasis. made
These substati nsare not andall theiriave age
days delay in deposits are as follows:
Civic Center 0 days delay
ISB 0 days delay
1st National 20 days delay
Hawkeye Bank 20 days delay
Drugtp Randalls 20 days delay
7 days delay
Pearsons 20 days delay
U. of Iowa 20 days delay
VA Hospital 20 days delay
Credit Union 20 days delay
Transit 0 days delay
b
Younkers 20 days delay
-4 -
I
o� 01ir
Elimination of this delay at 1st National Bank can result in
$4,080 of annual additional available funds, potentially
yielding from $250 to $260 of savings. Elimination of these
delays at the other substations can result in $10,170 of
annual additional available funds, potentially yielding from
$610 to $640 of savings. The implementation of this
recommendation has not been discussed with the substations
and is not known if it is feasible. Therefore, the savings
amounts (except for 1st National Bank) have not been included
in the total savings amounts as stated on page 1 and
elsewhere in this report.
Further analysis of the Surepay urogram should be done by
your staff to determine how to get customers on the program.
The benefits are more timely cash collections and less staff
hours required to process utility receipts. The potential
costs include any incentive given to a customer plus any bank
charges incurred. Because of the uncertainty of the nunber
of customers willing to use this payment method, we were not
able to quantify the potential savings or costs.
If the City has available employees, you may want to consider
daily deposits from the parking meters. This cost would have
to be weighed against the potential savings. The City may
also want to consider the purchase of sealed containers for
the parking meters. This would allow for better control over
the receipts. There is really no way to quantify what the
potential savings would be for this recommendation as it is
not known if there is theft from the receipts.
An accounts receivable aging repot should be developed
for parking ticket accounts receivable. The City could
use this report to aggressively seek collection on these
receivables. Further investigation of whether liens can be
filed with Johnson County against a car owner's license
should be considered. This appears to be a feasible way to
collect a higher percentage of the outstanding parking
tickets.
Excess funds at Iowa State Bank in the general checking account
analyzed for the months of July 1985 and March 1986 identified
average idle cash balances of $170,850. By more closely
monitoring the balance of the account and investing the funds in
the HiFi account, we estimate annual savings to be $1,370.
0.'C
aO0 6
* Excess funds at Hawkeve State Bank in the payroll and leased
housing non-interest bearing checking accounts analyzed for the
months of July 1985 and March 1986 identified average idle cash
balances of $146,030 and $12,470 respectively. By setting up
super MOW accounts for these funds, we estimate annual savings
which could result from investment of these funds to be $8,620 and
$710 respectively.
In addition to the recommendations resulting in quantifiable savings
discussed above, we have made further recommendations which will allow the
City of Iowa City to be in a "cash management" position, not a "cash
reactive" position.
* Bank collet ba�an A a ort_.._ should be established.
Monitoring cash based on general ledger balance is extremely
inaccurate due to "float" (clearing times involved on both checks
deposited and on checks issued).
* Written inves mgntrocedur
p should be established. Such
procedures will ensure that investments will be made, even when
the person who normally is responsible for making investments is
unavailable.
Based on our experience, the benefits discussed above can begin to be
realized immediately. McGladrey Hendrickson & Pullen can assist the City
of Iowa City in achieving these benefits in a timely manner by providing
consultants experienced in implementing these improvements to work with
you as soon as you are ready to proceed. We believe our methodology can
shorten the implementation time and increase the probability of success.
To aid you in implementing these improvements, we have attached the
following.documents:
* A benefit summary report which provides additional information on
the estimated cash amount and savings impact of each improvement.
* A recommendations priority analysis which suggests a ranking of
the improvements in terms of benefit level and ease of
implementation.
It was a pleasure working with you and your staff during this project, and
we look forward to a continuing professional relationship with the City of
Iowa City.
-6-
.20,14
L 11
i
1•
CITY OF IOWA CITY
CASH MANAGEMENT REVIEW
BENEFIT ESTIMATE SCRQdARY
Estimated
Estimated Annual Annual Potential Estimated
Item Available Funds Benefit (1) Annual Cost
Early accounts
payable $189,820
Timely payroll tax
$11,980
payments
680
Federal
11,170
FICA
25,730
IPERS
38,850
State
21,370
Excess bank balances
1,350
ISE, - general checking
170,850
Hawkeye - payroll
146,030
Hawkeye - leased housing
12,470
Delayed deposits
710
Landfill
490
Recreation department
1,000
Parking ramps
840
Library
1,550
Transit - 1st Nat'l
4,080
CDBG collections 32,890
Blue Cross payments 11,500
U. of Iowa fire protection 294,180
$11,480
$11,980
$ -0-
680
710
-0-
1,560
1,620
-0-
2,350
2,450
-0-
1,300
1,350
-0-
1,370
1,370
-0-
8,620
8,620
-0-
710
710
-0-
30
30
-0-
60
60
-0-
50
50
-0-
90
100
-0-
250
260
-0-
1,990
2,080
(2)
700
730
-0-
17,800
18,560
(3)
Totals $962,820 $49,040 $50,680 $ -0-
(1) Based on July 1985 through March 1986, transactions and interest rates
of 6.058 and 6.318.
(2) Programming costs have not been estimated by us.
(3) The cost of amending the current contract has not been estimated.
-7-
Itm
Early accounts
payable
Timely payroll tax
payments
Blue Cross payments
CDBG collections
Excess bank balances
Delayed deposits
U. of Iowa fire
protection
Totals
CITY OF IONA CITY
CASH MANAGE14W REVIEW
RECOhII MATION PRIORITY RANKING
Estimated Annual Implementation
Implementation
Potential Benefit Phase (1)
Phase U
$11,480 $11,980 I
1
5,890 6,130 I
2 j
700 730 I
3
1,990 2,080 S
4
10,700 10,700 S
5
480 500 S
6
17,800 18,560 L
7
$49,040 $50,680
(1) I = Immediate
S = Short-term (0 - 8 weeks)
L = Long-term (9 - 52 weeks)
(2) Relative ranking based on judgment of the client situation.
�Z
City of Iowa City
MEMORANDUM
Date: December 11, 1986
To: City Council
From: Rosemary Vitosh, Director of Finance &aa��-.,
Re: Comprehensive Annual Financial Report 000
I hereby submit to you the City's Comprehensive Annual Financial Report
for the Fiscal Year Ended June 30, 1986. This report includes Combined
Statements (summary statements) and basic financial statements for each
individual fund and account group prepared in conformity with generally
accepted accounting principles. It also includes supporting schedules
necessary to demonstrate compliance with finance -related legal and con-
tractual provisions, extensive introductory material, and a detailed
Statistical Section.
This document represents the culmination of efforts by the Department of
Finance, primarily the Accounting and Reporting Division, and 1,034 hours
of audit and report review staff time by McGladrey Hendrickson and Pullen.
McGladrey's hours show an 8.1% increase over the 957 hours put into last
year's audit as many changes in the auditing and reporting requirements
have been imposed on the City by the U.S. Office of Management and Budget
and by the Governmental Accounting Standards Board.
The transmittal letter on page 7 discusses comparative summaries of reve-
nues and expenditures for FY86 and FY85. The auditor's opinion appears on
page 17. The sunnary financial statements begin on page 19 and individual
fund statements begin on page 73.
The Notes to the Financial Statements begin on page 29 and provide a
summary of significant accounting policies and other disclosures, required
for a fair presentation of the basic financial statements of an entity in
conformance with generally accepted accounting principles, which are not
included on the face of the basic financial statements themselves.
The Compliance Section provides reports which meets requirements of the
State and Federal governments for audit reports. Included are the audi-
tor's report on the schedule of Federal and State financial assistance
(page 108), the auditor's report on internal accounting controls for
general purpose financial statements (page 112), the auditor's report on
internal accounting controls and administrative controls for the Federal
financial assistance programs (page 116), the auditor's report on compli-
ance for general purpose financial statements (page 122) and for Federal
financial assistance programs (page 123). The auditor's findings along
with the City's response to their recommendations are found in the inter-
nal control letters and on a separate schedule for compliance matters
(page 132).
r ^ I
Page 2
These financial statements do differ from those used for budget prepara-
tion. The City maintains its daily accounting records on a modified cash
basis and converts those records aoettheaccrual
annualorfinancial statements accrual iin
as necessary, in order to prep
accordance with generally accepted accounting principles. The budget is
prepared on the modified cash basis which allows for the monitoring of
transactions throughout the fiscal year.
Note No. 6 on page 46 shows detailed information for the Enterprise Funds
on Results on Operations and Financial Position. Parking shows an ex-
traordinary item of $999,515 which is a gain which results from the bond
issue sold in October, 1985, to refund the 1978 parking revenue bond
issue. The ,operating loss for Water results from the depreciation expense
of $179,819. Increased water rates will eliminate such a loss in future
years. The negative net working capital for Water is due to the delayed
financing of the construction costs for the East Side Water Storage Tank
project; general obligation bonds were sold in July, 1986, for this pro
ject and this will eliminate the deficit position in future years. Sani-
tation includes both landfill and refuse collection and shows an operating
loss which is due to landfill excavation costs during the fiscal year
amounting to f189,000. Operating revenue is accumulated annually and
How -
utilized every three to four years for a major excavation project. How-
ever, this does result in an annual operating loss during the year when
the excavation occurs.
Airport and Mass Transportation both show operating losses because the
opnies
erating income (loss) figure is tezpsubsidythouMass dTranspoin rtationrant oalso
and the transfers -in of property
shows a negative net working capital. This results from the contracts
payable and the accrued liabilities which are recognized at year end on an
accrual basis but are not funded by the City until the year in which the
actual payments will occur. The Housing Authority shows a net loss due
contribution contract inclusion
HUD fd es not cover depreciation expeation exens. Thnannual
se,
The annual financial report and the auditor's reports produced no sur-
prises. The City was aware
and torsnandvance of the had already audit started chose itmorrectives action
listed
as findings by
where needed.
Iowa City was awarded a Certificate of Achievement for Excellence in
Financial Reporting for its Comprehensive
9 5reh ASCertificateFofancial Achievementtisor the
valid
Fiscal Year Ended June 30,
for a period of one year only. We believe our current report continues to
meet the Certificate of Achievement Program requirements and we are sub-
mitting
io the
foranother
Government
certificFinance
officials Association to determine
its elgibil
Representatives from McGladrey Hendrickson and Pullen will be at your
informal meeting on December 15, 1986 to further discuss this report with
you.
/sp
ao %
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City of Iowa City
MEMORANDUM
Date: December 11, 1986
To: City Council
From: Rosemary Vitosh, Director of Finance
Re: Management Recommendations from McGladrey Hendrickson & Pullen
During the course of the audit work each year, our auditors have the opportu-
nity to examine and see how well we are following the procedures we have
established. Occasionally, they discover things that are not operating at
the level intended when the procedures were adopted, or simply identify
functions where improvements could be made. These items are seldom material
enough to be classified as an internal control comment, or have an effect on
the financial statements. However, it is helpful to management to be made
aware of these areas of concern.
Attached is the "Management Recommendations" letter from McGladrey
Hendrickson & Pullen as a result of this year's examination. The following
represents my response to their recommendations.
1. Purchasing Procedures:
The City's Purchasing Manual is currently being revised and updated. The
auditors' observations will be considered as the revised manual is
finalized.
2. Time Sheet Approval:
It will be necessary to review the payroll authorization structure before
guidelines can be developed for departments to apply on a consistent
basis.
3. Inventories:
The Equipment Maintenance System inventory and procedures for maintaining
the inventory will be further reviewed by Finance Department staff during
the current fiscal year. In the course of evaluating the City's inven-
tory needs and goals, the reconmendations from McGladrey Hendrickson &
Pullen regarding this issue will be taken into consideration.
4. IMMA Account:
The receipt of $8,487 which has not been allocated is not the City's
money to allocate as it was an overpayment by an investment broker. The
City Treasurer advises that this overpayment will be refunded as soon as
appropriate instructions are received from the broker.
K
5. Revenue Bond Reserve Transfers:
Procedures have been reviewed and changed to ensure that proper transfers
will be made on a timely basis.
6. Utility Revenues:
The City has been interested in enhancing its statistical recordkeeping
for some time. However, records of this nature are based on billing
records maintained on the main computer. Considerable staff analysis
time and computer programming would have to be done to provide the infor-
mation in an analytical format. This will be pursued as time permits.
1. Work Papers:
It is not unusual for the auditors to point out positive accomplishments
as well as the advice about potential problem areas. The Accounting and
Reporting Division has dedicated a substantial amount of effort toward
.providing better, more comprehensive work papers. Congratulations to the
Accounting and Reporting Division for a job well done.
8. Electronic Data Processing:
Although there is some merit in these recommendations, management has
determined that the benefits do not justify the required staff time for
implementation. The daily demands placed upon the data processing staff
by users for assistance and programming have grown to such a level that
most requests cannot now be handled on a timely basis.
The recommendations from McGladrey Hendrickson & Pullen provide the City
management staff the opportunity to see the procedures from an objective
point of view. 1 appreciate the recommendations discussed here and I look
forward to future input of this nature.
bj2/5
I
MMCGLADREY
ckson
Hendrickson
& Pullen Internationally
CERTIFIED PUBLIC ACCOUNTANTS DUNWOODY ROBSON MCGLADREY&POLLEN
November 17, 1986
R City of Iowa City
Civic Center
Iowa City, IA
I
i.
ur
work
or the
satatementse have mandttheafederaldauditfreport.auTietwould hlikento3thankgthelCityipal
er-
sonnel for their assistance in getting this audit done. As in prior years, !
there are some observations and suggestions which we would like to bring to your
attention. The items are:
1. Purchasing Procedures
Based on our compliance testing of the City's general disbursements I
internal controls, reviews of the City's purchasing manual `!
and interviews with Monica Bieri regarding controls and procedures
for City purchases, we have the following suggestions:
a. In our compliance testing we noted the approval signatures onI..
some purchase request forms were not that of a department or
division head as required by the purchasing manual. These )
signatures were generally those of supervisors who were not on
the authorized signature list. The City should expand the list
of authorized signatures or strengthen its procedures for �.
reviewing and requiring authorized signatures on purchasing
i� documents. asng
b. We also noted that a check request is often used as supporting 1
documentation when the purchasing manual requires a small order
requisition or a single purchase order. This was often done
for ease and speed in processing purchases. We suggest the
City review their purchasing manual and consider revising it to
match the actual uses of the City's forms.
2. Timesheet Approval
In our tests of the payroll system we noted several departments
where the responsibility for approving employee timesheets had been
delegated to clerical personnel. We also noted instances of people
approving their own timesheets. Management should review and
strengthen the authorization requirements for this step of the
payroll process and communicate its decision to all department and
division heads.
i
•100 Pima Centra One, /onv cib.. /nen5?P--10,1919) 951-1500
3. Inventories
We had difficulties again this year in our examination of the
equipment inventory. The equipment inventory was not adjusted to
physical count at year-end. Though we only discovered minor
variances between the physical counts and the perpetual records,
there is a concern as to the correctness and completeness of the
equipment inventory. The City should develop a written inventory
procedure for year end that establishes responsibility for the
count and ensures that the inventory procedures are completed.
We suggest that in future years the inventory be adjusted to the
physical count in a timely manner.
In addition, the following suggestions could aid the equipment
inventory record keeping process:
a. Through our inquiries and observations we noted the equipment
inventory contains some obsolete items. These items should be
identified and written off.
b. We found many of the equipment inventory items on hand had a
small unit value of less than a dollar and a small total dollar
value. The City should consider setting parameters to delete
items from the inventory which are under a certain unit value
and total dollar value.
c. The City could consider a cycle count policy for at least some
items of inventory. This policy could reduce the work to be
done at the end.
4. IMMA Account
As of June 30, 1986, there was a $8,487 receipt in the I[EA account
which was not allocated to any fund. This needs to be corrected.
5. Revenue Bond Reserve Transfers
At June 30, 1986 the sinking fund for the Parking Revenue Bonds was
below its required balance based on the disbursements that were to
be made on July 1, 1986. Also, some transfers to the bond and
Improvement reserves for parking and sewer were not made as sche-
duled. The City should improve its monitoring of these bond
requirements and consider moving the responsibility for initiating
the transfers to the accounting division which now does all of the
bond accounting.
6. Utility Revenues
An error was discovered this year in the computation of the
unbilled usage amounts as of June 30, 1985. In the process of
trying to identify the problem we noted that the City does not have
many internal statistics on utility revenues. Cumulative and com-
-7
iffir
-I
parative monthly information on a route cycle basis on the number
F
of hookups, consumption, gross billings and cash receipts could be
very useful in monitoring water and sewer revenue and identifying
recurring trends in cash flow, billing loads, etc. A spreadsheet
program could be used to track this information. Host of the
parking system usage statistics which are maintained manually would
also be much easier to maintain on a spreadsheet.
7.
Workpapers
The improvements made in workpapers, by presenting them on Lotus �.
spreadsheets and other computer output, were a great aid in our
- -
understanding and use of these workpapers. We appreciate the time ,..
spent by the accountingpersonnel in develo in these. i
p gthese
8.
Electronic Data Processing
I
_
There are several suggestions related to the City's computer system
and its operation which have been included in prior years' manage-
ment letters. These suggestions should be reviewed again to deter-
1
mine the ones that deserve more attention.
If
menting any
you have any questions or if we can be of any assistance in Imple-
of these
suggestions,t
please contact us. .i-•
i
Sincerely,-
I
-
CLADREY HENDRICKSON 6 PULLEN
David L. Johansen, Partner i
i
I
I
I
j
'
I
�0or
CITY OF IOWA CITY, IOWA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
For the Fiscal Year Ended June 30,1986
Ii
r;
COMPREHENSIVE ANNUAL FINANCIAL REPORT
CITY OF IOWA CITY, IOWA
FOR THE FISCAL YEAR ENDED JUNE 30, 1986
PREPARED BY:
DEPARTMENT OF FINANCE
ROSEMARY VITOSH, DIRECTOR
CITY OF IOWA CITY, IOWA
NOVEMBER 1986
{
Ir
INTRODUCTORY
SECTION
-
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�
�f.
INTRODUCTORY
SECTION
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9
INTRODUCTORY
SECTION
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CITY OF IOWA CITY, IOWA
Table of Contents
June 30, 1986
Comparative summary of actuarial values and percentage covered
by net assets available for benefits - pension trust funds
Investment performance measurements - pension trust funds
Schedule of insurance in force
Parking rates
Analysis of parking revenue bond ordinance reserve funds
Page
103
104
105
106
107
108
110
112
116
122
128
132
8
i
COMPLIANCE SECTION
1
_1
Independent
auditors' report on
schedule of federal and state
financial
assistance programs
Schedule of
federal and state financial
assistance programs
Independent
auditors' report on
internal accounting control
with respect to general purpose
financial statements
Independent
auditors' report on
internal accounting control and
administrative controls with
respect to federal financial
assistance programs
Independent
auditors' report on
compliance with respect to general
purpose financial
statements
Independent
auditors' report on
compliance with respect to federal
financial
assistance programs
i
Schedule of
compliance findings
_i
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Page
103
104
105
106
107
108
110
112
116
122
128
132
8
CITY OF IOWA CITY. IOWA
LISTING OF CITY OFFICIALS
June 30, 1986
t
z
ELECTED OFFICIALS
Mayor........................................................William Ambrisco
Council -member ....................................................Larry Baker
Council-member...................................................Kate Dickson
Council-member..................................................John McDonald
Council-member..................................................George Strait
Council-member................................................Darrel Courtney
Council -member ...................................................Ernest Zuber
APPOINTED OFFICIALS
Acting City Manager...........................................Dale E. Helling
CityClerk .....................................................Marian K. Karr
CityAttorney.............................................Terrence L. Timmins
DEPARTMENT DIRECTORS
Acting Assistant City Manager.................................Rosemary Vitosh
Acting Director of Finance.....................................Kevin O'Malley
Director of Planning and Program Development .................Donald Schmeiser
Library Director..............................................Lauretta Eggers
Acting Director of Human Relations...........................Sylvia Steinbach
Fire Chief ............................................... ;....... Larry Donner
Chief of Police.................................................Harvey Miller
Transit Manager..................................................John Lundell
Airport Manager ................................................. Fred Zehr
Senior Center Coordinator........................................Bette Meisel
Director of Housing and Inspection Services ..................Douglas Boothroy
Director of Public Works....................................Charles Schmadeke
Parks and Recreation Director.................................Terry Trueblood
`?';.x -a- app p
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-.
.> ORGAINIZA1110NAL STREICTIIRE N
`s FOR 101%?A CITY'S GOVERNMENT . �..: .
a)ARIB
a I
l'17Y (Y).SIMISSIONS CITY I
CIERR ATIY)RNIY
uRRAAP AMM
DIRECTOR MANAGER
I�
BRARr AIRPORT
EMT) co POLICE CHIEF
SON I !-
ANAMMTRI ADAMM"
.A[CW W { Nl 11MiWTIM
.TTRIMKIY� CIIYCOUA'CIL umrocRxnruK.ATKn
.10010 r10[[$$III D /NKAT WONt
.rAluna MAYOR &ALARM i
j
ASSISTANT
HOUSING L INSPECTION CITIBNS Of CITY MANAGER
DIRECTOR IOWA CITY '1A°A°w° nutty"uMUTKns
awnnMT" onsM KS
Nasnimna
IAmiR[nT TunitwK[ j
i
PARRS L RECREATION OTYMANAGER HUMAN
DIRECTOR RELATIONS DIRECTOR
.wrvRtluTm .R�t AdsRSTunon �
rnu
atnuTRM + 1
avn emeuu KEY ) i
numl
FIRE CHILE TRANSIT MANAGER
+ue RMSSAn •M IMIAMu ELECTED OFFICIALS
FIR: REY[MM (MAYOR ELECTED BY COUNCIL)
SENIOR CORER PLANNING L PUBLIC WORKS
COORDINATOR PROGRAM DIRECTOR APPOINTrD BY CO11NC11, A MAYOR
uNolmm�onul DEVELOPMENT AonmuTman
.w"wsMTpn ''"0°rt1An0 DIRECTOR OR MANAGER EMPLOYED
STAfflaMKATtl"
vro 1 ns TWKI "[11M BY BOARD OR COMMISSION
J[f00IIOGAAII[
'A'tnKll(d11R01
RAill
DEPARTMENT/ADMINISTRATIVE
`. HEAD APPOINTED BY CITY
N MANAGER
OO
-OPERATING BUDGET UNITS
OQ
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"This page intentionally left blank. **
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W,
CITY OF IOWA
CITY
CIVIC CENTER 410 E. WASHINGTON ST IOWA CITY• IOWA 52240 (319) 3,56 -;COO
December 5, 1986
Honorable Mayor, Members of the
City Council and City Manager
City of Iowa City, Iowa
The Comprehensive Annual Financial Report of the City of Iowa City, Iowa, for
the fiscal year ended June 30, 1986, is submitted herewith in accordance with
the provisions of Chapter 384 of the Code of Iowa. This report was prepared by
the City's Finance Department. Responsibility for both the accuracy of the
presented data and the completeness and fairness of the presentation, including
all disclosures, rests with the City. We believe the data, as presented, is
accurate in all material aspects; and it is presented in a manner designed to
fairly set forth the financial position and results of operations of the City,
as measured by the financial activities of its various funds and that all
disclosures necessary to enable the reader to gain the maximum understanding of
the City's financial' activity have been included.
Accounting System and Budgetary Control
The City adopts its annual program budget on a modified cash .basis. While
spending control is exercised at the program level, management control is
exercised on a major objective of expenditure basis at budget decision unit
levels within funds. Encumbrance accounting is employed in all funds for
budgetary control. Encumbrances outstanding at year-end for the governmental
.fund :types are reflected as reservations of the fund balances. Appropriations
which' are not encumbered lapse at the end of the year. The five year capital
improvements program establishes the first year as the annual capital projects
funds budget.
The . City' of Iowa City, Iowa, maintains its day-to-day accounting records on a
modified cash basis. However, this report is prepared on a modified accrual
basis for the general governmental operations and on the full accrual basis for
the City's enterprise and internal service activities. This report follows the
general format suggested by the Governmental Accounting Standards Board and the
Government Finance Officers Association of the United States and Canada.
In developing and evaluating the City's accounting system, consideration is
given to the adequacy of internal accounting controls. Internal accounting
controls are designed to provide reasonable, but not absolute assurance
regarding: (1) the safeguarding of assets against loss from unauthorized use
or disposition; and (2) the reliability of financial records for preparing
financial statements and maintaining accountability for assets. The concept of
%tt%
-7-
a oo 8'
reasonable assurance recognizes that: (1) the cost of a control should not
exceed the benefits likely to be derived; and (2) the evaluation of costs and
benefits requires estimates and judgments by management.
All internal control evaluations occur within the above framework. We believe
that the City's internal accounting controls adequately safeguard assets and
provide reasonable assurance of proper recording of financial transactions.
The Reporting Entity and Its Services
The financial statements and schedules included in the report reflect the —
financial activity resulting from the provision of services through the City's
fourteen basic departments which are administered by the City Manager and
subject to the control of the City Council: _
Airport Housing & Inspection Parks & Recreation
City -Attorney Services Planning & Program Development
City Clerk Human Relations Police
Finance Library Public Works
Fire Mass Transportation Senior.Center
..This report does not, include financial statements of the Iowa City Community
School -District or the Iowa City Conference Boardwhich governs the City
Assessor's Office, because they are administered by independent and autonomous
boards and are not legally a part of the City of Iowa City or subject to
control by the, City Council., The Iowa City.Library Foundation, Mayor's Youth
Employment Program and Project Green all act autonomously and do not otherwise
meet the component unit criteria described in the Notes to Financial State-
ments. The City does, however, act as custodian for these entities and, _
therefore, includes them in its general purpose financial statements as agency
funds.
Retirement Plans
With the exception of police and fire, ,substantially all permanent City
employees are covered by the Iowa Public Employees Retirement System (IPERS).
The state annually sets the contribution rate for all municipal, entities and
covered employees. All covered employees are required to contribute 3.7% of a
maximum salary of $22,000, while employers contribute 5.75%. There is no
allocation of unfunded liability to any municipal entity and, upon the retire- _
ment of employees, responsibility for their benefits are solely those of IPERS.
The City has -,no responsibility to meet employee pensions of the IPERS system.
The -City, acts in a custodial capacity for the police and fire .pension and
retirement systems for the City's public safety employees. According to the
latest report. from our actuaries, vested and accrued pension benefits exceed _
the net assets of the trusts by $1,392,114 as of June 30, 1986, as compared to
$1,460,108 as of June 30, 1985.
General Governmental Financial Analysis
Revenue and transfers for general governmental functions (General Fund, Special
Revenue Funds, and Debt Service Fund) totaled $18,859,634 in fiscal year 1986, _
an increase of 7.0% from 1985. Property taxes accounted for 52.3% of the total.
A 27.4% increase in licenses and permits is related to a 12.9% increase in the
value of new construction and remodeling building permits issued and to rate
lea �, -B- aooP
W
increases that took effect during the year, A 32.5% decrease in miscellaneous
revenue is attributable to non-recurring land sale proceeds. A change in the
rate and fee structures during fiscal year 1986 resulted in an 11,6% increase
in charges for services and an 11.2% increase in fines and forfeitures.
A comparative summary of the revenue and transfers is as follows:
Percent
Change Over
1986
1985 (Under) Prior Year
Property taxes
$ 9,865,284
b 8,858,968 11.4%
i
Licenses and permits
310,341
243,680 27.4
Intergovernmental revenue
4,000,077
3,662,155 9.2
-
Charges for services
1,472,637
365,709
1,319,445 11.6
328,934 11.2
i
Fines and forfeitures
Use of money and property
258,539
264,097 (2.1)
Miscellaneous
338,044
500,553 (32.5)
Transfers
2.249,003
2
Total
-_'�''==1=='
3177 2TU9
Assessed valuation of $1,239,781,694
represents a decrease of .7% under the
preceding year.
4
Current tax collections
were 98.2% of the tax
levy, dawn .1% from the prior
year. Delinquent tax collections
were more than
last year. The ratio of total
collections (current and
delinquent) for the
current tax levy was 99.4% which
_
is no measurable change from the prior year.
Allocations of property tax levy
by purpose are as follows
(amounts per 51,000/assessed
value):
Purpose
1986
1985
General fund
$ 7,510
$ 7,717 ;1
Tort liability
,370
.166
—
General obligation debt
1,952
1.830
Pensions and retirement
,693
,758
_
i
Transit
360
1�885
180
F -6
I
Total tax rate
,Tf
_',i
Expenditures and transfers
for general governmental
functions (General Fund,
Special Revenue Funds,
and Debt Service Fund) totaled $18,991,552 in fiscal
year 1986, an increase
of 9,1% over 1985.
A significant growth in human
in the Community Develop-
services program activity resulted in a 43%
ment Block Grant Fund. Several new grants
increase
and programs were added in fiscal
year 1986, resulting in
a 163,1% increase in
expenditures for the Other Shared
d
Revenue anGrants Fund,
The General Fund
experienced an overall increase of
in the of health
12.6% in its expenditure
level because of major increases cost
i�
and liability insurance,
and the addition of
a full-time City Attorney.
} .i
i
i A comparative summary
of expenditures and transfers is as follows:
-
Percent Change Over
F,
1986 1985
(Under) Prior Year
_
i' General
$ 4,261,394 $ 3,522,935
21.0%
Y Police
2,340,183 2,175,223
7.6
—
Fire
1,565,839 1,407,355
11.3
Transportation
1,946,445 1,888,675
3.1
Leisure and Cultural
3,126,809 2,761,521
13.2
_
Community Development
Block Grant
802,524 561,209
43.0
-
Other Shared Revenue
and Grants
163,533 62,146
163.1
—
Federal Revenue Sharing 697 -
100.0
Debt Service
1,934,725 1,785,773
8.3
Transfers
3,061,493 3,249,739
(5.8)
Total
$19,203,642 $17,414,576
----------- -----------
10.3%
i
Enterprise Funds
I,
The City currently operates seven enterprise funds. These
funds operate from
the proceeds of user
charges. The following tabulations
list the operating
—
income (loss) before depreciation for fiscal year 1986 compared
to 1985:
Enterprise Funds.
1986 1985
-
j
Parking
$ 762,481 $ 553,790
— I'
Pollution Control
556,526 752,763
Water
7,483 350,524
Sanitation
(52,960) 82,452
Airport
(92,038) (144,989)
-
Housing Authority
172,560 190,399
Mass Transportation
(1,271,969) (1,110,968)
Debt Administration
I
The ratio of net bonded debt to assessed valuation and the amount
of net bonded
debt per capita are useful
indicators of the City's debt position
to municipal
management, citizens,
and investors. These statistics for the City as of
June 30, 1986 were as
follows:
Ratio of Net Bonded
Net Bonded
Debt to Assessed
Debt Per
Amount Value
Capita
—
Net bonded debt
$13,151,052 .0106 to 1
$260.38
Outstanding general obligation bonds as of June 30, 1986 totaled
$13,625,000 of
—
which $1,730,918 issued for sewer improvements will be funded by the Pollution
Control Fund and $200,000
issued for water improvements will be funded by the
6
Water Fund. Tables
in the statistical section of this report present more
_
detailed information about the debt position of the City.
—
.� L
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ti
The City continues to have the same excellent rating on its general obligation
bonds that it has had for the past several years. This rating is given to
those bonds judged to be the best quality and carrying the smallest degree of
w investment risks. The City's ratings as of June 30, 1986 were as follows:
ii
Moody's Investors Services:
General obligation bonds AAA
Parking bonds:
_
revenue Baa 1
_ Capital Projects Funds
During the fiscal year ended June 30, 1986, $1,592,285 was expended for capital
projects of which substantially all of the costs were for infrastructure fixed
assets.
General Fixed Assets
I I The general fixed assets of the City are those fixed assets used in the
performance of general governmental functions and exclude the fixed assets of
the enterprise funds. As of June 30, 1986, the general fixed assets of the
City amounted to $13,508,136 compared to $12,826,498 as of June 30, 1985. This
amount represents the original cost of the assets and is considerably less than
their present value. The City follows the policy of not capitalizing the costs
of infrastructure fixed assets, such as streets, sidewalks, bridges, storm
sewers, lighting systems and individual assets
with a cost of less than $500.
Depreciation of general fixed assets isnot recognized in the City's accounting
system.
�J
Cash Management
The majority of the City's investments are handled through an investment pool
except for those funds
which are required to maintain their investments
separately. This pooled concept provides for greater investment earnings which
are then allocated on a systematic basis.
i'
For the year ended June 30, 1986, the City earned $1,895,965 from all invest-
ments, down $251,607 from the prior year. The following tabulation shows how
this was allocated for the fiscal years 1986 and 1985.
1986 1985
Investment Investment
Fund Type Earnings Earnings
Governmental $ 284,990 $ 285,582
.,
Proprietary 578,248 639,567
Fiduciary 1,018,780 1,207,469
Expendable trust 947947
�3
Totals
2
i
Independent Audit
- The State Code requires an annual audit of the financial condition and finan-
cial transactions of the City. This requirement has been complied with and the
auditors' opinion is included in this report. It must be emphasized that the
opinion of our certified public accountants included in this report, includes
a
■
all funds and account groups of the City of Iowa City, Iowa, and the results of
all the funds operations and the changes in financial position of its proprie-
tary fund types and similar trust funds for the year ended June 30, 1986. In
the opinion of our auditors, the financial statements are presented fairly, in
conformity with generally accepted accounting principles, applied on a basis
consistent with the preceding year.
i
Report Format _
k
C This report is organized into four sections: the Introductory Section, the
Financial Section, the Statistical Section and the Compliance Section. The
Introductory Section contains the listing of City officials, an organization
j chart, the table of contents and the letter of transmittal.
The Financial Section contains the opinion of the certified public accountants,
the general purpose, combining and the individual fund financial statements, and
schedules.
The Statistical Section contains comprehensive statistical data which is
intended to give the reader a broader and more complete understanding of the
financial and economic trends of the City of Iowa City, Iowa.
The Compliance Section contains the independent auditors' reports on compliance
matters and internal accounting and administrative controls based on their
examination of the general purpose financial statements and the additional
tests required by the Single Audit Act.
Certificate of Achievement
The Government Finance Officers Association of the United States and Canada
(GFOA) awarded a Certificate of Achievement for Excellence in Financial
Reporting to the City of Iowa City, Iowa, for its comprehensive annual _
financial report for the fiscal year ended June 30, 1985.
In order to be awarded a Certificate of Achievement for Excellence in Financial
Reporting, a governmental unit must publish an easily readable and efficiently
organized comprehensive annual financial report, whose contents conform to —
program standards. Such reports must satisfy both generally accepted account-
ing principles and applicable legal requirements.
A Certificate of Achievement is valid for a period of one year only. We
believe our current report continues to meet the Certificate of Achievement
Program requirements and we are submitting it to GFOA to determine its
eligibility for another certificate. -
y/
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PROSPECTS FOR THE FUTURE
The diversification of Iowa City's economy provides the resources for a stable
employment base. Unemployment has averaged 1.3% during the past year, a figure
well below averages reported for the State of Iowa and the United States. Iowa _
City is in a constant state of activity and regularly leads the State in new
construction projects. While established firms continue to prosper, there is
also a trend toward new economic development. Recent expansions of local firms
provided the resources to support 169 new full-time jobs. New firms now
locating in the Iowa City metropolitan area will provide 895 new jobs.
-12-
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This City is finalizing design for the Wastewater Treatment Facility Project.
Financing will come from Sewer Revenue Bonds sold in July, 1986. The
$33,911,000 project includes the rehabilitation and expansion of the existing
sewer plant along with the construction of a satellite treatment facility
located south of Iowa City. This improvement project will provide the City
with increased flexibility to respond to future changes in growth patterns or
possible changes in effluent standards. The project addresses current needs
and is designed to meet growth needs for the next 25 years.
Iowa City's populace is well-informed and expects high quality services. The
w overwhelming approval of a swimming pool referendum in June, 1986, by 79% of
the voters is an indication of citizen expression of confidence in themselves
and the local economy. It should be noted that the bond referendum approval
came following a prolonged discussion of substantial sewer rate increases
i required to service the debt on the recent Sewer Revenue Bond Issue.
Iowa City is well below the maximum tax levy rate. However, reductions in
federal and state monies have resulted in a growing dependence on property tax
revenues. In reaction to the trend, the City Council approved increased user
fees citywide during the fiscal year ending June 30, 1986, and will regularly
consider appropriate fee increases in an effort to minimize future property tax
increases.
Our future will hold many challenges; however, we are confident that the City
of Iowa City will continue to meet the challenge of providing necessary goods
and services in the most cost efficient manner by a continued emphasis on
planned economic growth and prudent management of our City's resources.
11
Acknowledgments
The preparation of this report could not be accomplished without the efficient
and dedicated services of the entire staff of the Finance Department. I would
like to express my appreciation to all members of the department who assisted
and contributed to its preparation. I would also like to thank the Mayor and
the members of the City Council and the City Manager for your interest and
support in planning and conducting the financial operations of the City in a
responsible and progressive manner.
Respectfully submitted,
v "a , ,� �Q. LX=4A
Rosemary L. Vitosh, C.P.A.
Director of Finance
i r
-13-?00e
T
irAd
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—f
Certificate of
Achievement
for Excellence
in Financial
Reporting f
I..
Presented to
City of j
Iowa City, Iowa I"
For its Comprehensive Annual i....
Financial Report )
for the Fiscal Year Ended
June 30, 1985 i
A Certificate of Achievement for Excellence In Financial 1 t'
Reporting Is presented by the Government Finance Officers
Association of the United States and Canada to i
governmental units and public employee retirement
systems whose comprehensive annual financial -
reports (CAFR's) are Judged to substantially '
conform to program standards.
r� k PresidentSEAL
nxut }/
UUUExecutive Director
r
7
�1
J
I
J
—f
Certificate of
Achievement
for Excellence
in Financial
Reporting f
I..
Presented to
City of j
Iowa City, Iowa I"
For its Comprehensive Annual i....
Financial Report )
for the Fiscal Year Ended
June 30, 1985 i
A Certificate of Achievement for Excellence In Financial 1 t'
Reporting Is presented by the Government Finance Officers
Association of the United States and Canada to i
governmental units and public employee retirement
systems whose comprehensive annual financial -
reports (CAFR's) are Judged to substantially '
conform to program standards.
r� k PresidentSEAL
nxut }/
UUUExecutive Director
t..
** This page intentionally left blank. **
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MIN
FINANCIAL
SECTION
Q
FINANCIAL
SECTION
I
f
u
u
.... ..... ._
f
FINANCIAL
SECTION
7
J
J
MMCGLADREY
Hendrickson
& Pullen
CERTIFIED PUBLIC ACCOUNTANTS
To the Honorable Mayor
and City Council
City of Iowa City, Iowa
We have examined the general purpose financial statements of the City
of Iowa City, Iowa, as of and for the year ended June 30, 1986, as listed in the
table of contents of this report. Our examination was made in accordance with
generally accepted auditing standards and, accordingly, included such tests of
the accounting records and such other auditing procedures as we considered
necessary in the circumstances.
In our opinion, the general purpose financial statements referred to
above present fairly the financial position of the City of Iowa City, Iowa, as of
June 30, 1986, and the results of its operations and the changes in financial
position of its proprietary fund types and similar trust funds for the year then
ended, in conformity with generally accepted accounting principles applied on a
basis consistent with that of the preceding year.
Our examination was made for the purpose of forming an opinion on the
general purpose financial statements taken as a whole. The combining, indivi-
dual fund financial statements and schedules listed in the table of contents as
supplementary information are presented for purposes of additional analysis and
are not a required part of the general purpose financial statements of the City
of Iowa City, Iowa. Such information has been subjected to the auditing proce-
dures applied in the examination of the general purpose financial statements,
and, in our opinion, is fairly stated in all material respects in relation to
the general purpose financial statements taken as a whole.
Iowa City, Iowa
October 17, 1986
y VA i
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CITY OF IOW CITY. IOW
CMIHEO BALANCE SHEET
ALL FUD TYPES AND ACCOUNT GROUPS
June 30, 1986
(Page 1 of 3)
s0
1
I
CITY OF IOW CITY. IOW
CMIHEO BALANCE SHEET
ALL FUD TYPES AND ACCOUNT GROUPS
June 30, 1986
(Page 1 of 3)
i
Fldet lay
Governmental Fred Traps
proprietary
Tune T^vs
Fwd Ty"s
Accawt 6ry
-iF
,
RT�iil-
Total
Special
debt
Capital
Special
Internal
Tent W
plead
Lw-T
bbluna
(11�ranMa
Onbl '
ASSETS
Swral
knome
Service
projects
Assessments
Enterprise
Service
Agency
Assets
Cash
{ 1,712
1 ..
1 ..
{ ..
1 - •
S 2,201
1 • ,I
. •
1 • •
6 - -
1 7,515
Inv"tnots
1,626,411
791,61
420,341
655,55/
97,240
1,127,959
"551.021
12,299,102
..
• -
21,141,161
amcelrNles:
properly lues
9,197,154
- -
2,"1.111
- •
- •
- -
464,107
..
- -
11,112.741
Accounts end
unbilled usage
410,591
615,751
6,040
41,500
..
• -
1,140,661
Interest
7,729
10,1"
122
116
2,705
87.616
11,112
406,421
..
• -
521,65S
SWIM ..
asse/sernls
_ .
_ .
..
..
111,152
..
• .
..
• .
171.457 .
Actlw pronl IOM
• .
!,411,041
..
..
..
..
..
• .
2.011.000
Ow frm.uther
fulls -
225,8/5
619
- -
1,119,617
- -
11,070
151,111
59,110
1,6",716
but Prow slhM
governments-
21,097
752,705
• -
120,196
- -
721,125
- -
6,921
- •
-
826,646
Imalorin -'
- •
- -
- •
- -
157.715
152,191
- -
• -
605,919
bend Issuonce cam is
..
_
..
_ .
..
21.798
..
..
..
..
21.796'
property all
-
Lanlfleent.
Land .
..
..
..
. .
2,621,251
45,462
• -
1,016,110
- •
5,106,081
eundtnnpps ane
stroclures
- .
. •
- •
- •
19.72/.096
S67,15S
- -
7.105.S$2
- -
27.277,017
1provnwls
alder than
..
20,7",115
41,165
• -
./15,11/
20.826,817
-
Egvehmwt all
vehicles
- •
- -
-
..
2,026,710
2,681,6
• -
2,5/6,160
• -
8,081,114
Accuaalated
depreciation
. •
..
..
..
212.201."1)
11.405.011
- .
- .
..
117.614.084).
C In prore
In pralreat
Amount ave1 Table In
- •
-
-
..
6,195,116
- -
64."1
- -
6,259,621
OMl SMelce FW
..
. -
- •
- •
- •
- •
417,948
471,918
ASMI to be Provided
par the Payment of
oral yep -len
..
..
..
..
- -
• -
- -
12.6".812
12.6".622
Total assets
111,688,111
...........
1);2"2512
{2,SIIt650
......
11,915,501
..........
1 826,991
..........
111 115 766
...1...1...
!MMM
117 ]16 161
...l...t...
II7 508,116
...1... ....
11],087 110
......2...
1108,002,161
............
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N
O
Fiduciary
1
}
I
Foexnommntel Fund Types
CITY OF IOWA CITY, [MIA
COMBINED BALANCE SHEET
ALL FLW TYPES AM ACCOWF GROUPS
June 30, 1986
(Page 2 of 3)
..
Fiduciary
-
Foexnommntel Fund Types
Proprietary
FUM Types
Fund Typos
Aetouet 6rouos
LIABILITIESAlinSpecial
ItwICVAL [WHIT
General
lltvenue
Oabt
Servlet
er It,
fro e[ts
Special
Assessments
Enterprise
Internal
Serrlce
Trust 4W
Aofftcy
ee:wra7 �wner�T
Flied Lonp•Term
Total
111e�randum
Assets Oabt
only)
Liabilities:
Excess of out-
"
ttaedlaD thesis
....
aro Isek palace
1 65,226
f • -
1
1 -
1 - -
{ 26,956
1
1
1 - 1
Accounls payable
Cmtracts
171,121
113,561
- •
15,/86
17,715
189,611
56,677
19,721
• -
'' '
92 82
1 612,869
Atauedle.,•
66•tl3
8,6to
- -
128,193
• -
226.756
• '
- .
- . - .
110,100
'liabilities
OM to other
157,901
16,767
- •
/,685
- -
1]6,111
69,618
10,051
-' 1,177,119
- i, 165,9/9
Funds
Out to other
70,016
14,612
7,116
05,016
- -
1,1]),699
181
2,016
' ' ' '
1,609,348
1,609,B
. "Paurme ena
1.090
• "
- •
..
• -
111.165
Slue to apencl,
Deferred revenue
- -
8,147,723
• -
2,04,019
- •
2,029,619
- -
- -
585,016
117,150
- •
• •
169,]11
667,916
- • - -
- _
I71,SL]
,169,.161.
lolarest Dyable
.:'Deffrred
- -
..
s, 117
- -
- -
116.101
' '
6.001
_ -
16,22/,161
compansatt"
., pS,266
Payable
Deposits
271.382
• -
- -
- -
• -
169,656
- -
601.675
- - ' '
601,615
Revenue bonds
Nous l np
- -
• -
- -
-
- -
6.017.569
_ -
7D6,Wo
- . ' '
' '
40 '0111
6,787,569
authority notes
ObllDallan under
- -
• -
- -
-
-
7,001./91
- .
• ' • .
. 7.1101.191
cy11O lase
. _
..
_ .
General oblige-
-
_
' '
- •
- • 21Z,569
212,569
tion bonds
Special atlas$-
• -
• -
- -
-
1,970,918
- •
-
- - 11,691,O92
17,625,000
aent bonds
Total Ilablll-
• -
. -
- -
195.000
--_
195,000
tat
{9.901 %1
I2,i1s.211
12L0J� 902
1 2]7,17e
1 e�� 1e9
n1,ae,9H
lies :6e
1: ole rn
i lu 47 n0
UI 766 961
.
Scoot hued I
f
CITY OF IOWA CITY. IOW
COMBINED WAKE SHEET
ALL FUD TYPES AID ACCOUIfY GROUPS
June 30, 1986
(Page 3 of 3)
I Iduc lary
Govermnld fund Types Proprietary fund Types Fund Types Aclounl Groups
esntn1 Total
LIAIILItIES AM Special rt Cap ltal Special Internal Trust and fixed Lang -Ten (Mmrandus,
NIIICIFAL EQUITY General Bl+esre Lrrlce ProJectt Assesmats Enterprise save Ice APKV Assets Debt Onhl
Total 11ab111-
tles f"arded 1 9,987,961$2,23S.241 12.011,902 E 233,178 G 823,189 {1+.218,9221) 27,268 2,018,731 f - 111,087.710 1 41.766,962
Bumlclpsl equity:
Contributed
capital 1 - • f - { - • 1 - 6 • - 121,197,030 11,221,142 1 - f - { • - 1 22,118,112
tosettmaat In.
general fixed
assets - - - - - : - - - - - - - - - 13,508,136 • - 13,508,116
Retafead
earnings:
Relict ordinance
reserves .. - . • . - .. 1,183.598_ .. _ .. 1.883,S98
Unreserved - - - - - - - - • - 7,115,816 1,761,317 - - - • - 9.237,113 .
Fund balance.
Reserved for:
Encumbrances 70,315 17,502 - 242,746 • - - • - - - - • 360,163
Long ted
receivable 11+.500 .. .. _ . _ . _ _ . .. _ .. 188,500
Employes
retirement
commltmentf - - - - • • - • - 11,201,175 - - - 11,201,115
Johnsm County
Council of
Governments - - - • - • - - 45,820 - • • 45,820
perpetual
care _ . _ . .. _ .. .. .. 00,435 _ .. 80.415
Destyynatty for:
Glfls for
speclllc
purposes 40,602 - - - - • - • - • - • • 40.802
Future Improve-
ment, 682,990 - - 1,479,180 - - - - - - - - - - • 2,022.)70
Unreserved and
uedellimsted 811.543 953.799 473.948 1.2082.248,491
Total "lcl• • -
pal equity 1 1,700,15D$1,001,3011/ 73,918 1 1,602,126 1 3,20830 51 56,4442 9) , 82,459 {11.127,430 113,508.136 1 1 61.235.202
Total liabili-
tieslablll-
ties and
lclp+I
eqummity ........... 11,216 ... 12,511 ... f 1.916,504 1 876.997 1...7.5.366 1..1091121 ......61.61 {11,508.116 111.......0 1.00,002.164
See Notes to Fin4nelal Statements.
N
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CITY OF IOWA CITY. IOW
COMBINED WAKE SHEET
ALL FUD TYPES AID ACCOUIfY GROUPS
June 30, 1986
(Page 3 of 3)
I Iduc lary
Govermnld fund Types Proprietary fund Types Fund Types Aclounl Groups
esntn1 Total
LIAIILItIES AM Special rt Cap ltal Special Internal Trust and fixed Lang -Ten (Mmrandus,
NIIICIFAL EQUITY General Bl+esre Lrrlce ProJectt Assesmats Enterprise save Ice APKV Assets Debt Onhl
Total 11ab111-
tles f"arded 1 9,987,961$2,23S.241 12.011,902 E 233,178 G 823,189 {1+.218,9221) 27,268 2,018,731 f - 111,087.710 1 41.766,962
Bumlclpsl equity:
Contributed
capital 1 - • f - { - • 1 - 6 • - 121,197,030 11,221,142 1 - f - { • - 1 22,118,112
tosettmaat In.
general fixed
assets - - - - - : - - - - - - - - - 13,508,136 • - 13,508,116
Retafead
earnings:
Relict ordinance
reserves .. - . • . - .. 1,183.598_ .. _ .. 1.883,S98
Unreserved - - - - - - - - • - 7,115,816 1,761,317 - - - • - 9.237,113 .
Fund balance.
Reserved for:
Encumbrances 70,315 17,502 - 242,746 • - - • - - - - • 360,163
Long ted
receivable 11+.500 .. .. _ . _ . _ _ . .. _ .. 188,500
Employes
retirement
commltmentf - - - - • • - • - 11,201,175 - - - 11,201,115
Johnsm County
Council of
Governments - - - • - • - - 45,820 - • • 45,820
perpetual
care _ . _ . .. _ .. .. .. 00,435 _ .. 80.415
Destyynatty for:
Glfls for
speclllc
purposes 40,602 - - - - • - • - • - • • 40.802
Future Improve-
ment, 682,990 - - 1,479,180 - - - - - - - - - - • 2,022.)70
Unreserved and
uedellimsted 811.543 953.799 473.948 1.2082.248,491
Total "lcl• • -
pal equity 1 1,700,15D$1,001,3011/ 73,918 1 1,602,126 1 3,20830 51 56,4442 9) , 82,459 {11.127,430 113,508.136 1 1 61.235.202
Total liabili-
tieslablll-
ties and
lclp+I
eqummity ........... 11,216 ... 12,511 ... f 1.916,504 1 876.997 1...7.5.366 1..1091121 ......61.61 {11,508.116 111.......0 1.00,002.164
See Notes to Fin4nelal Statements.
T
Em
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REVENUE
Property -taxes
Licenses and permits
Intergovernmental
Charges for services
Fines and forfeitures
Use of money and properly
Miscellaneous
Total revenue
EXPENDITURES
Current operating:
Community protection
Human development
Home and community environment
Policy and administration
Capital outlay
Debt service:
Princlpal
Interest
Total expenditures
Revenue over (under) expenditures
OTHER FINANCING SOURCES (USES(
Operating transfers:
From other funds
(To) other funds
Proceeds from general obligation bonds
Proceeds from capital leases
Total other financing sources (uses)
Revenue and other financing sources
over (under) expenditures and other
financing uses
FUND BALANCES (DEFICIT), BEGINNING
as restated (Note 2)
FUND BALANCES, ENDING
See Notes to Financial Statements.
CITY OF IOWA CITY,' IOWA
S - -
(2,076,368)
1 146,815
- -
1 126,804
• -
COMINED STATEMENT OF REVENUE; EXPENDITURES
I 23,621
- -
1 2,399,434
(3,071,923)
2TT•73�md53
AND CHANGES IN FIND BALANCES
--
" -
3,838,045
342,852
ALL GOVERNMENTAL FUD TYPES AND EIPEIDIIDE TRUST
FINDS
i�F67y)
Year Ended June 30, 1986
• -
iT,96i;Ai3
i�177;42t
)-2f;6tT
Governmental Fund Types
1 (550,784)
S 270,483
1 148,383
Special Debt Capital
Special
Expendable
Total
(Memorandum
General Revenue Service Projects
Assessments
Trusts
Onlyi
(508,0281
201,816
1 7,987,779 S - $1,877,505 1 - -
1 - •
1 660,691
$10,526,175
310,341 - - - - - -
- •
- -
310,341
911,366 3,088,711 - - 405,772
- •
09,401
4,495,250
1,472,603 34 - - -
- •
88,511
1,561,208
365,709
365 709
140,457 59,294 58,108 53,059
7,501
13,947
333,045
72
978 165 566
.
1TTi7bT,a237T-T7i7`d05 Tf:976;T9J 1-'i79:93i
93 813
IT-ZOf:3T(
316
T-AS�iI6
552 191
ITBT/is,,rll
1 4,076,151 S - - 1 - • { -
1 - •
1 666,026
S 4,742,177
2,625,124 - • - - -
- -
- -
2 625,124
2,538,923 519,353 - • -
-
140,468
3,206,144
3,049,805 148,009 - - -
-
58,000
3,255.814
950,667 299,392 - - 1,592,285
-
- -
2,842,344
• - - - 1,278,670 - -
-
• -
1,278,670
56 055
TLT ii0 T7Q T�6d 75d 6iT 934 x/15 TT,541T95
23 000
I zj;100
1 A1I 79t
6TiB 6iq;°yZg
1 1 679 437) S 2,346,851 1 1,566 1(1 113 354( S 178.314 ( (19,349) 1 (495,406(
1 2,102,188
. (985,625)
S - -
(2,076,368)
1 146,815
- -
1 126,804
• -
{ - •
(9,9301
I 23,621
- -
1 2,399,434
(3,071,923)
2TT•73�md53
--
" "
--
" -
3,838,045
342,852
-.
4,180,897
i�F67y)
T-T16:9i5
• -
iT,96i;Ai3
i�177;42t
)-2f;6tT
212 090
TT12U'{9g
1 (550,784)
S 270,483
1 148,383
12,851,495
1 511,236
1 4,219
1 3,235,092
2,250,934
730,818
325,5651
It • 69,369)
(508,0281
201,816
1,913,736
1 Ia700a150
S.I40141
LE]i948
1 WHi126
1 - 1i208
4 JBBa095
� SiI�8iBY8
T
0
i
CITY OF IOW CITY. IOW
COMINED STATEIENT OF REVERE, EXPENDITURES AND CHANGES
ENR"I NRS
Current operating:
IN FUO BALANCES NON -GMP BASIS
Cereunlly protection
Nostra dewlopwnt
1 /,127,531
2,110,197
1 1,039,112
2,658,176
1 81,101
82.D51
BUDCET AND ACTUAL
2,719,281
1,778,905
2,571,215
7,081,612
110,009
251,291
Capital astlay
Dot service:
/87,071
ALL GOYERNNENIAL FUD TYPES
6,191
Principal
..
Year Ended June 30, 1986
_
Total expenditures
117:7:az�
(Page 1 of 2)
r
Revenue over (under)
Yerlwu
iueeral Fund Favorable Spec lel Revenue Funds
Vivisect
favorable
Odt Service Fund
Vwlence
favorable
i 167.150
0/"R FIMNCIRG 500RE5 (USES)
ue IUnfaroceDlel fid-
(IMryrortllele
c us
(Unfavorable)
REVENUE
Ira other funds
-(lo) Oliver fogs
{ 2./16,M5
(1,068,1")
1 2,287,216
(1,07/,6K)
Property taw
L'lenses and p6eltt
1 7,fS1,2/f
26,341
1 /,98,271 t (11,981 1
110,515 11,211
W teen bonds
ob1Ir!
"ter9onrn ental
Charges for, svrices
Mt,fs6
111,/0
f0i,160 15,52/ 7,o",iz1 7,178,Asi
1,66,662 177,1261 - -
79,iti
- - -
- -
- -
F'nes and forfeitures
111,117
8
171,926 19,719
)i
- - - -
- -
Use of soney and property
N otalarepemove s
3,6S/
2204%
16,111 115,761 21,000 6,516
28,596
15,000 56,165
11,65
Total
Total r
OePFgllurM and Other
234 1f1 _[14.4311 62 210
�_ TJ:i207Z7 5'1;g20;i01
602 210
1�:7R
11:9715 19;�{��{
T[ 1
ENR"I NRS
Current operating:
Cereunlly protection
Nostra dewlopwnt
1 /,127,531
2,110,197
1 1,039,112
2,658,176
1 81,101
82.D51
Note end cownnfly envfro mat
FOI Iq and sdlnlstratlne
2,719,281
1,778,905
2,571,215
7,081,612
110,009
251,291
Capital astlay
Dot service:
/87,071
/11,5"
6,191
Principal
..
Interest
_
Total expenditures
117:7:az�
1
r
Revenue over (under)
expenditures
1112439.4641)
$11,776,514)
i 167.150
0/"R FIMNCIRG 500RE5 (USES)
Operating transfers:
Ira other funds
-(lo) Oliver fogs
{ 2./16,M5
(1,068,1")
1 2,287,216
(1,07/,6K)
1 (82,8")
70,68
Proceeds fes puersl
W teen bonds
ob1Ir!
lotel Other financing sources
(uws)
IT 1,347,607
1215 790
1102,217)
Revenue and other financing
sources ever (under)
OePFgllurM and Other
financing user
111,192,07))
1 (571,111)
FAIR 6LIVICES (DEFICITI, BEGINNING
1,961,257
1.96.251
FIN" NLSRES (DEFICIT), ENDING1 !722116 ! 114772107
(continued)
566,771 510,921 15,9"
12,566 156,61 1121,611
118,215 .346,227 72,0"
iT.0ST,112 1T.01T.118 TS' 6
1 2.102,695 t 2.671,161 776 /"
612,519,751) 6(2,076,768) i 112,166
1 tl .S/9,75/) $(2,076.3141) 122 9N
f 1116,6591 ( 6M,61S ! 1,!112111
185,295) 1S 255)
1,515,000 1,575,000
TitliNn 1 012 525 869 91111 1kat
1 66 6/) 152S.4134) 11X,610
1 525,16 1 566,471 1 41,10
(109,6!1) (109,"1) • -
116 111 1 156.360 143,103
67.595 187.595
1.34140's { 42011/1
REVENUE
Iroperty. late$
t ]conies ed Penitt
(harps Far seta]
Charges d f sarrlc0
final and ey adtpres
op
Use o/ savoy and property
Mls r
Tot&I revenue
ESIENDITUIBES
Current operattag:
Community protection
Huon develosoent
Ha•e ad community enrlrorrenl
Policy rad adainlstrallon
Capital outlay
Debt lafrl[e:
prle6pl
Interest
Total expendllufts
Parana over (oder)
espoltures
OTHER FIUWING SOURCES (USES)
Operating transfers:
Pro other funds
[To) other funds
9r""ds frenal
bbl lg•lo. pw
lo bads
Total other financing
sources (uses)
Revenue and other financing
foorces aver (underl
MPedI res and other
f Inanc Inou es
FUND BALANCES (DEFICIT), BEGINNING
FANO BALANCES (OHICM. ENDING
See Notes to f indncial Stateaenls.
7
CITY OF IOW CITY, IOW
COMBINED STATEMENT OF REYENE, EXPENDITURES AID CRINGES
IN I= BALANCES NON -GAAP BASIS
BUDGET AID ACTUAL
ALL GOVERNMENTAL FIND TYPES
Year Ended June 30, 1986
(Page 2 of 2)
Variance Variance Variance
Capital fro •ccs Funds Favorable �5 bl Assessments Fund Favorable Total (Noorandr ant I Favorable
kTw1 lUafuortlle)Pa`a•' (NNdavorable) - um9e'ekidwal- EUnOrorWlel
1 - • { • - { • - f • - 1 • - 1 • • 1 9,861,707 1 9,712,962 1 (70,365)
266,361 310,SeS 16,269
2,311,040 291,261 (2,083,791 • - • • 6,361,023 6,178,276 (1,986,767)
661 • - (631,661 - - • - - - 2,15$,229 1,666,696 (108,515)
316,161 373,926 39.719
6]1 ,
63,119 63,119 - - 6,084 6,016 69,856 326,612 256,SS8
84 000 20 108 117.692) 58 000 107 116 69 716 326 4% 1 023 els 699 119
'i8E 2 '{�56�GOII 7--ST7�656 am VT17'.d77.c6/Q rn TlT; nl
1 - • { • • 1 f - - { • - { • • 1 6,123,532 5 6,039,132 1 86,601
- • • • • • - • - - • 2,140,693 2,658,636 82,057
- • - • - • • - • - - • 3,316,057 3,102,099 217,958
3,371,689 3,261,019 130,610
3,082,616 1,662,8% 1,419,118 - - 8,416 (8,616) 6,288,886 2,169,063 1,539,861
- - • • • - 35,000 355.00000 • • 1,610.000 1,610,000
23 000 21 000 1 i-SS;WQ t I42 537
ii) IOS_a`_a'_118'1f7:717 35 525 692 998 IIS
}.._(32i33)11 1,282,366)1 2!0,273) S !47,444 1 67,666 110.125.5116) {_(660.101) Is 665.479
1 5,058,s11 1 166,792 114.911,7191 1 • • 1 156,556 1 156,556 f 1,999,981 1 7,155,063 1(6,846,921)
(19,90) (19,986) (13,9161 (9,910) 1,916 (3,741,649) (3,256,077) 497.616
28,601 3.851.668 3.823,067 w & 362,6S2 712.652 28,601 6y194y500 6.165,199
15,081,122 3,918,452 1 108 610) 1 111,91611 19,616Sf 07.392 6 6,286,9764f ,095,530 { (191.606)
{ S,056,919 1 2,696,086 112x35!6901) { (17,916) 1 516,920 ! 5506816 113,161,3SO f 1,435,423 { 274 073
..,.,..1...
(916.793) (916,393)41 41,065) (443,06s) 90.095 _ 941,095
t 4A20496 ... 9141 1 /i1�11/1 {�13 (113518
0
CITY OF IOWA CITY, IOWA
COMBINED STATEMENT OF REVENUE, EXPENSES AND CHANGES IN RETAINED
EARNINGS/FUND BILLANCES, ALL PROPRIETARY FUMD TYPES AND SIMILAR TRUST FUNIS
Year Ended June 30, 1986
Proprietary Fund hoes Flduclar Fun T s Total
Tn erne ens no on-expen a e (Meaorandom
Enterprise Service Trusts Trust Only)
REVENUE:
Intergovernmentalf
Charges for servicesa
1 7,342,886
11,976,526
86 ,971
i
f 86,971
Interest Income
Contributions
- -
- -
1,009,308
_
9,472
9,319,112
1,018,780
Miscellaneous
57.286
711,2/8
- -
717,248
Total rarenue
j00'lY7
EXPENSES:
Personal servlces
1 3,396,632
1 502,088
f 422,945
f • -
3 4,321,665
Commodities
483,399
660,336
- -
- -
1,143,735
Services and pensees
7,.138,.058
17mT�
S82 757
expenses
TI7A
---=
jOperatins
income before
_33
ii -`w"
depreciation
Depreciation
$ 82,083
1,198,561
1 703,712
327,475
{ 1,390,582
f 9,472
{ 2,185,849
-
1,526,036
Operating Intone (loss)
$(1,116,478)
f 376,237
S 1,390,582
f 9,112
$ 659,813
NONWRATING INCOME (EXPENSES):
Gain on disposal of fixed
assets
-
5,564
- -
- -
5,564
Operating grants
329,700
-
- -
- -
329,100
Interest Income
522,671
55,577
- -
- -
578,248
Interest expense
(780,613)
-
-
1780,6131
Income (loss) before
operating transfers and
extraordinary )tea
1(1,044,720)
{ 437,378
{ 1,390,582
{ 9,472
{ 192,712
OPERATING TRANSFERS IN (OUT), MET
681,961
-
-
(9,472)
672,489
Income (loss) before
extraordinary Item
{ (362,759)
f 437,318
1 1,390,582
1
1 1,465,201
EXTRAORDINARY ITER, gain on
early extinguishment of deet
999,515
999,SI5
Net Income
1 636,756
1 437,378
1 1,390,582
{ - •
1 2,464,715
Depreciation on assets acquired
y contributed capital that
reduces contributed capital
100,045
- -
- -
-
100,045
RETAINED EARNINGS/FUND BALANCES,
BEGINNING, as restated (Note 21
9,622,613
1,323,939
9,568,318
80,435
19,595,305
RETAINED EARNINGS/FUND BALANCES,
ENDING
1.9,359,414
$1,761,317
{IO,758,900
1 80,915
{22,160,066
See llules to FMnanclnl Sldt MMLs
.- _. ._•) 1_4 .-
i
V
( I�
0
Q
flnanclil resources provided by (used In(
operations before extraordinary item
Extraordinary Item, gain on early extinguishment
of debt
Total financial resources provided by
(used In) operations
Other sources:
Contracts payable
Due to other lands
Due from other lands
Due from other governments
Deposits
Contributed capital
Proceeds (rose tele of ROMs
7ate1 financial resources provided (used)
FINANCIAL RESOURCES Ap111E0 TO
Accounts payable
Purchase of property all equipment
Bond issuance eons
Contracts payable
Due to other fulls
Payment o/ bands and notes
Total financial resources applied
Net Increase (decrease) In cosh
and Inrmlmenit, as below
SUMUPT Of NET [))AXLES IN CATII AND INVESTMENTS,
Increase (decrease) In;
Cash
Invest mems
Not Increase (decrease) In cash and Investments
See Moles In Financial Statements.
-1
CITY OF IOWA CITY, IOWA
f INAN01Al RESOURCES PROVIDED BY ---
Operations:
Income (loss) before extnordlnary Item
Items which did not (provide), or require
outlay of. cath and Investments:
Depreciation
(Dain) on disposal of fixed assets
(Increase) decrease In:
Accounts and accrued Interest receivable
Due from other funds
Due from other governments
Inventories
accrued expen
ses
i (762,759) 1 137,778 (1,790,582 3 - f 1,165,201
1,190,561 727,115 - - - 1,526,076
- - (5,561) - - - - 15,561)
106,]06 (I,BOO� (121,032) (1,620( (11,916(
8,726 (I,M9 - - 326 1,683
(129,271) - • - - - (129,271)
(19,2]6) IB,9611 • - - - (28,191)
35,811 27,075 5,737 - - 61,181
(61,816) 661 - - (8,815) (70,057)
(1,9271) - - - - - (7,927(
11,742 - - - - - 11,1/2
176,018 176.0/8
S 960,165 $ 161,858 11,211,087 {(10,119) 3 2,985,911
999,515 999.515
51,959,680 f 761,858 f1,271,087 $(10,139) f 7,985,186
121,108 - - - - - 121,108
171,176 271,176
1,270,672 792,296 - - - - 1,662,928
29,969 29,969
71,9111 - - • - - - 31,918
135,515 - - - - - - 175,515
22iTiT57;151 TTtTI:DB7 TLiO-`) 2277TS� TV9Ii
! - - { 227,211 It • - { - - { 217,211
7,001,868 16),7)8 .. .. 3,518,206
21,798 - - - - - - 21,798
111,658 - - - - • - 211,658
692,101 - - - - - 692,101
2.ITbi51:596 I=64R'S� 57 T__
T- T7:13T7S:T1A
f �J1 911) 3 161,602
41,211,007 {110,1]91 3 1,692,619
3 I21 3 .. t t •- t (t)
34 919 166 602 1 271 087 11 4"
13
7) 1 692 621
rf�r;97ri f-tE6;30T Ffta37i;d87 T(Id;(741 T-%69i;dT7
T-,
7
11
This page intentionally left blank. *6
-I
CITY OF IOWA CITY, IOWA
NOTES TO FINANCIAL STATEMENTS
June 30, 1986
i
Note 1. Nature of Operations, Reporting Entity, Description of Funds and Account
Groups, and Significant Accounting Policies
,. Nature of Operations
' The City of Iowa City, Iowa, was incorporated April 6, 1853, and operates
under the Council/Manager form of government. The City provides a broad
71 range of services to citizens, including general government, public safety,
_f streets, parks and cultural facilities. It also operates an airport, parking
facilities, a mass transportation system, water, sewer, and other sanitation
utilities, and a housing authority.
The Reporting Entity
For financial reporting purposes, the City includes all funds, account
groups, agencies, boards, commissions and authorities that are controlled by
or dependent on the City. The criteria used to evaluate this control by or
dependence on the City relates to the oversight responsibility exercised by
the City, including governing authority selection and continuing relation-
ships, budget adoption, taxing authority, debt responsibility and obligation
of the City to finance any deficits that may occur, or receipt of significant
subsidies from the City.
Based on the foregoing criteria, the Johnson County Council of Governments is
included in the City's general purpose financial statements as an expendable
trust fund.
i
The Iowa City Community School District is administered by an autonomous
board, created under the authority of chapters of the Iowa Code separate and
distinct from the City and thus their financial statements are not included
in this report. The Iowa City Conference Board which governs the Iowa City j
Assessor's Office also did not meet the above criteria'and is excluded from
J this financial report.
The Iowa City Library Foundation, Mayor's Youth Employment Program and
Project Green all act autonomously and do not meet the component unit
criteria. The City does, however, act as financial custodian for these
entities and, therefore includes them in its general purpose financial
statements as agency funds.
i
Description of Funds and Account Groups
These financial statements include all funds and account groups owned or
administered by the City, for which the City acts as custodian, or which were
determined to be component units of the City. These statements have been
prepared in accordance with the standards established by the Governmental
Accounting Standards Board.
y
-29-
-7
CITY OF IOWA CITY, IOWA
MOTES TO FIM MIAL STATEMENTS
June 30, 1986
"Ju 6 Ci j .30-
The City maintains its records on a modified cash basis of accounting under
which only cash receipts, disbursements
cash and encumbrances, investments
and bonded debt are recorded. These modified cash basis
accounting records
have been adjusted to the accrual or modified accrual basis, as
r
necessary, to
prepare the accompanying financial statements in accordance with generally
accepted accounting
principles.
t
The accounts of the City are organized on the basis of funds or account
groups, each of
which is considered to be a separate accounting entity. Each
fund or account group is accounted for by providing a
separate set of
revenue its s
self -balancing ias bvariousilities�fundsiand
andexpenditues oriexpenses, appropriatese
The —
account groups are presented as follows:
3
GOVERNMENTAL FUNDS
—
The General Fund is used to account for all the financial resources of the
City, except for those
required to be accounted for by other funds. The
revenue of the General Fund is primarily derived from
taxes, general property l
andcertaiin afderalnd osources.liThesexpendies and
p
revenuefromstate andnes
_
turestof
the General Fund primarily relate to general administration,
police and
fire protection, streets and public buildings operation and maintenance,
and parks and
recreation.
E
The Special Revenue Funds are used to account for revenue derived from
specific sources which are required to be
accounted for as separate funds.
The funds included in this category and their
purpose are as follows:
Community Development Block Grant Fund - accounts for revenue from U.S.
Department of Housing Urban
and Development Community Development Block —
Grant programs.
Other Shard Revenue and Grants Fund - accounts for revenue from variou s
sources, including road use tax monies and reimbursable
aprograms funded
by federal and state grants.
Federal Revenue Sharing Fund - accounts for monies received from Federal
Revenue Sharing entitlements,
Urban Development Action Grant Fund - accounts for the repayment of the —
Urban Development Action Grant funds
loaned to the downtown hotel.
The Debt Service Fund is used to account for the accumulation of resources _
for and the payment
of general long-term debt principal, interest and
related costs.
9
"Ju 6 Ci j .30-
CITY OF IOWA CITY, IOWA
MOTES TO FINANCIAL STATEMENTS
June 30, 1986
The Capital Projects Funds are used to account for all resources to be used
in the acquisition and construction of capital facilities and other major
fixed assets, with the exception of those that are financed by special
assessments or by enterprise fund monies. The funds in this category are
as follows:
Bridge, Street and Traffic Control Construction Fund - accounts for the
construction or replacement of infrastructure fixed assets such as
j streets, bridges, dams, sidewalks, lighting systems, and storm sewers.
Human Development Construction Fund - accounts for the construction of
parks and recreation facilities, and other leisure time improvements.
Other Construction Fund - accounts for the construction or replacement of
_ other City general fixed assets such as administrative buildings with
various funding sources including general obligation bonds, intergovern-
mental revenues, and contributions.
The Special Assessments Fund is used to account for the financing of
improvements or services deemed to benefit the properties against which
-J special assessments are levied.
i
PROPRIETARY FUNDS
The Enterprise Funds are used to account for operations and activities that
are financed and operated in a manner similar to a private business
enterprise, and where the costs of providing goods or services to the
general public on a continuing basis is expected to be financed or recov-
ered primarily through user charges, or where the City has decided that
' periodic determination of revenues earned, expenses incurred, and/or net
income is appropriate for capital maintenance, public policy, management
control, accountability, or other purposes. The funds in this category are
as follows:
— ParkingFund - accounts for the operation and maintenance of all the
- City's "on" and "off' street public parking facilities.
- Pollution Control Fund - accounts for the operations and maintenance of
the City's water pollution control facility and sanitary sewer system.
Water Fund - accounts for the operation and maintenance of the City's
water system.
Sanitation Fund - accounts for the operations and maintenance of the
City's solid waste collection system and landfill.
Airport Fund - accounts for the operation and maintenance of the City's
airport facility,
Housing Authority Fund - accounts for the operations and activities of
the City's low and moderate income housing assistance and public housing
programs.
I
-31-
foo or
-I
rib
CITY OF IOWA CITY, IOWA
c{
NOTES TO FINANCIAL STATEMENTS
I
June 30, 1986
u
i
Mass Transportation Fund - accounts for the operation and maintenance of
the City's public transportation system.
The Internal Service Funds are used to account for goods and services
provided by one department to other City departments on a cost reimburse-
ment basis. The funds in this category are as follows:
�^
Equipment Maintenance Fund - accounts for the provision of maintenance
I -I
for City vehicles and equipment, and vehicle rental to other City
departments from a central vehicle pool.
..a
Central Services Fund - accounts for the printing services and office
supplies inventory provided to other City departments.
FIDUCIARY FUNDS
The Trust and Agency Funds are used to account for assets held by the City
in a trustee or custodial capacity for the City's two pension and retire-
J
ment funds and for other entities, such as individuals, private organiza-
tions, or other governmental units. These fund types are categorized as
7 '
follows:
Expendable Trust Funds:
w
Employee Benefits Trust Fund - accounts for the employee benefits
related to those City employees who are paid through the governmental
fund types, and which are funded by a property tax levy.
;j
„
Johnson County Council of Governments Trust Fund - accounts for the
activities of the metropolitan/rural cooperative planning organization.
a
Water Revenue Bonds Funding Trust Fund - accounts for the investments
placed in a self administered trust, which, along with the earnings
thereon, are expected to pay the outstanding water revenue bonds and
the related interest as they mature.
—
Non -expendable Trust Fund:
Perpetual Care Trust Fund - accounts for the proceeds received from
Cemetery deeds sold through May, 1973 which are to be used in the
perpetual care of the cemetery. The investment proceeds from this fund
are transferred to the General Fund each year to be applied against
cemetery operating expenditures.
Pension Trust Funds:
-
The City maintains two pension trust funds for City employees as
follows:
Fire Pension and Retirement Fund
Police Pension and Retirement Fund
-32-
.Q001'
I
J
CITY OF IOWA CITY, IOWA
NOTES TO FINANCIAL STATEMENTS
June 30, 1986
Agency Funds:
The City acts as custodian for the following agency funds:
Project Green
Mayor's Youth Employment Program
Eldercraft Shop
Library Foundation
Employee Deferred Compensation
ACCOUNT GROUPS
The General Fixed Assets Account Group accounts for all City general fixed
assets except for property and equipment associated with the operations of
proprietary funds.
The General Long -Term Debt Account Group accounts for all City general
obligation and other long-term debt expected to be financed from governmen-
tal fund types, other than special assessment funds.
Significant Accounting Policies
Basis of Accounting:
The modified accrual basis of accounting is used for all governmental fund
types, expendable trusts, and agency funds. Under this method of account-
ing, revenue is recognized in the period in which it becomes both available
and measurable. Revenue accrued includes property taxes, intergovernmental
and interest earned on investments. Expenditures are recorded as liabili-
ties as incurred, if measurable, except for unmatured interest on general
long-term debt.
The accrual basis of accounting is used for all of the enterprise, internal
service, pension and nonexpendable trust funds. Under this method of
accounting, revenue is recognized in the accounting period in which it is
earned and becomes measurable and expenses are recognized in the period
incurred, if measurable.
Cash Management and Investments:
The City maintains one primary demand deposit account through which the
-� majority of the City's cash resources are processed. All of the City's cash
and investments which are deposited with financial institutions are covered
by Federal Deposit Insurance Corporation (FDIC) or are collateralized by
the pledge of federal securities as required by Iowa statute. All other
City investments are invested according to Iowa statutory requirements in
federal securities, federally guaranteed securities or other essentially
risk free investments.
IJ
-33- oZ Dol
CITY OF IOWA CITY, IOWA
NOTES TO FINANCIAL STATEMENTS
_
June 30, 1986
All investments except those in the Employee Deferred Compensation Fund are
stated
at cost or amortized cost, which is less than or approximates
market value.
The investments in the Employee Deferred Compensation Fund are carried at
market value.
Substantially all City investment activity.is carried on by the City in an
investment pool, except for those funds required to maintain their invest-
ments separately. The earnings on the
pooled investments are allocated to
the funds on a systematic basis.
Receivables and Revenue Recognition:
Property taxes receivable are recognized at the time they are levied by the
local
taxing authority, the County of Johnson, State of Iowa. Property
taxes levied for the fiscal
year ending June 30, 1986 were certified on
March 15, 1985 based on the 1984 assessed valuations establishing a lien
date of June 30, 1985. Taxes are payable in two installments, due
September 30 and March 31, 1%
with a per month penalty for delinquent
payment. That portion of the property taxes receivable which are recorded
in the governmental fund types, and which are not available for the current
year's operations, are
shown as deferred revenue.
—
Special assessments receivable are recorded at the time of the levy, and
that
portion which is not available for the current year's operations is
shown as deferred
revenue. Interest revenue on special assessments is
recognized when collected.
Federal revenue sharing is recognized during the entitlement period to
which it applies.
Substantially all other shared revenue is recognized when received by the
collecting authority.
Federal and state grants, primarily capital grants, are recorded as
receivables and the revenue is
.�
recognized during the period in which the
City fulfills the requirements for receiving the grant awards.
Income from investments in all fund types and accounts and unbilled usage
receivables in proprietary fund types is
recognized when earned. Licenses
and permits, fines and forfeitures, fees and refunds, charges for services
(in governmental fund types), miscellaneous and other revenues are recorded
as revenue when received in cash because they are generally not measurable
until actually received.
.�
Inventories:
Inventories are recognized only in those funds in which they are material
to the extent of affecting operations. Inventories are carried at lower of
cost (first -in, first -out) or market.
ItzL, ;� -34- ROOF -
CITY OF IOWA CITY, IOWA
NOTES TO FINANCIAL STATFIENTS
June 30, 1986
Property and Equipment:
i
Property and equipment in the General Fixed Assets Account Group are
carried at original cost, or at fair market value when received as donated
properties. The City follows the policy of not capitalizing infrastructure
fixed assets such as streets, bridges, lighting systems, sidewalks, storm
seders, and individual assets with a cost of less than $500. Depreciation
is not recorded on the General Fixed Assets Account Group.
Property and equipment associated with the proprietary fund types are
carried at original cost, or at fair market value when received as donated
properties. Generally, assets with an individual cost of less than $500 are
not capitalized. Depreciation is computed using the straight-line method
over the following estimated useful lives:
Buildings and structures
Other improvements
Vehicles
Other equipment
20-50 years
15-50 years
5-20 years
5-30 years
In the Mass Trns the
ansportation
sets which �h vee5beensacquiredto i through ned ifederal
J grants, by a corresponding reduction of the contributed capital. This
application is limited to the depreciation on the buses acquired by these
grants as the City anticipates that these buses will be replaced by way of
additional federal funding.
Property
the under
which is bin
dg in q the acired fin nciialntstatementsasinpuaccordancetrwith
generally accepted accounting g principles.
Bond Issuance Costs and Discount:
,i
! Costs incurred by proprietary fund types in connection with the issuance of
bonded debt have been recorded as an asset and are being amortized over
the term of the related debt.
Debt issued at a discount is recorded net of the unamortized discount, with
1 the discount being amortized over the term of the debt.
Compensated Absences:
Iaa
Permanent City employees accumulate vacation and sick leave hours for
subsequent use or for payment upon death, retirement, or termination. If
sick leave is paid upon death, retirement or (except firefighters) termina-
tion, the total accumulated hours are paid at one-half of the then
effectamount nve on June 28, a
8,1985, whichever rate for that is the
maximum leave
iosless, Employees paout
June 29, 1985 are not eligible for payment of accumulated sick leave upon
termination, death or retirement.
-35-
0260F
CITY OF IOWA CITY, IOWA
NOTES TO FINANCIAL STATEMENTS
June 30, 1986
For governmental fund types, the amount of accumulated unpaid vacation and
sick leave, payable from available resources, is recorded as a liability of
the respective fund and the remaining amount is recorded in the General
Long -Term Debt Account Group. The vested amount of unpaid vacation and
sick leave, of proprietary fund type employees, is recorded as a liability
of the appropriate fund.
Total Columns on Combined Statements:
The total columns an the combined statements are captioned "memorandum
only" to indicate that they are presented only to facilitate financial
analysis. Data in these columns do not present financial position, results
of operations, or changes in financial position in conformity with
generally accepted accounting principles. Neither is such data comparable
to a consolidation because interfund eliminations have not been made in the
aggregation of this data.
Budgetary and Legal Appropriation and Amendment Policies:
The City of Iowa City prepares and adopts an annual program budget, as
prescribed by Iowa statutes, for all funds except the Housing Authority
Fund, pension trust funds, internal service funds and capital projects
funds. This budget is adopted on or before March
ofcfareartoeach pbecome
effective July 1 and constitutes the City's appropriation
ogram
and purpose specified therein until amended. The adopted budget must
include the following:
a. Expenditures for each program:
Community Protection
Human Development
Home and Comnunity Environment
Policy and Administration
b. The amount to be raised by property taxation
c. Income from sources other than property taxation
d. Transfers in and transfers out
The legal level of control (the level at which expenditures may not legally
thanedat pthe the s the fund program
level. level is permlfunds issible,combined rather
therefore,
overspend the budget within a particular fund for a particular program
without overspending the legal program budget for the City as a whole. It
is necessary, therefore, to aggregate the expenditures of governmental fund
types with expenses of the enterprise funds (except
pthe totals usingtouthority
Fund) on a program basis and to compare such program
cbudgetd ity'sebudget lsfor revenueofocuses demonstron ethe gindivial dualnfund ce itrevenut
e.rather
than on aggregated. fund totals.
The City formally adopts budgets for several funds which are not required
by state law to be included in the annual program budget. Annual operating
budgets are adopted for the internal service funds and for the Housing
Authority Fund. For capital projects funds a five year capital improve-
mprove-
-36-
-36-
07061
07001
-f
-7
CITY OF IOWA CITY, IOWA
NOTES TO FINANCIAL STATEMENTS
June 30, 1986
ments program is adopted, establishing the first year as the annual capital
projects funds budget. These budgets are adopted and amended at the same
time and in the same manner as the City's annual program budget.
A City budget for the current fiscal year may be amended for any of the
following purposes as prescribed by Iowa statute:
a. To permit the appropriation and expenditure of unexpended
unencumbered cash balances on hand at the end of the preceding fiscal
year.
b. To permit the appropriation and expenditure of amounts anticipated to
be available from sources other than property taxation.
c. To permit transfers between funds.
d. To permit transfers between programs.
A budget amendment must be prepared and adopted in the same manner as the
original budget. The City's budget was amended as prescribed and the
effects of that amendment is shown in the financial statement presentation.
Individual amendments were not material in relation to originally appropri-
ated amounts. Appropriations as adopted or amended, and not encumbered,
lapse at the end of the fiscal year.
Statements of budget and actual revenue and expenditures have been
presented on a fund type basis and disclosures are presented which compare
budget and actual expenditures on the legal program budget basis for the
City as a whole. The statements reflect the City's modified cash basis
method of budget preparation.
Encumbrances:
The City records encumbrances as reservations of fund balances in the
governmental funds within the program budget structure. These reservations
of fund balances, for budgetary control purposes, provide authority to
complete these transactions as expenditures during subsequent years.
Encumbrances are reflected in the budgetary statements contained in this
report,
i
i
-37- �OQs
CITY OF IOWA CITY, IOW
NOTES TO FINANCIAL STATEIENTS
June 30, 1986
i
t Note 2. Retroactive Restatements
During the year ended June 30, 1986, it was determined that two sewer system
improvement projects, were being improperly accounted for in the Special
( Assessments Fund rather than in the Pollution Control Fund, an enterprise
t fund. Therefore, effective July 1, 1985 the City retroactively
restated the
June 30, 1985 equity balances of these funds to reclassify all costs incurred
on these projects through that date.
This restatement had the following
reported: effects on the amounts previously
'
Special Pollution
Assessments Control
Fund Fund
Increase due from/(due to)
other funds $ 156,554 $(156,554)
Increase property and equipment,
construction in progress 443443
,519
(Increase) contributed capital -- ( 965)
(Increase) fund balance (156,554)
The retained earnings of the Pollution Control Fund has also been retro-
actively restated to correct the $75,537 overstatement of the unbilled usage
receivable as of June 30, 1985.
w,
Note 3. Budget Versus Actual Comparisons
i
For the year ended June 30, 1986, only the Special Assessments Fund had an
-
unfavorable variance of actual expenditures and transfers out over budgeted
expenditures and transfers out. This unfavorable variance does not represent
a violation
of any law as the legal level of control is the program level for
all funds combined rather than at the individual fund level.
i
Budgetary Reporting Reconciliation:
The City prepares its program and non -program annual operating budgets using
a modified cash basis of accounting. For purposes of comparing actual
financial data with the budget, the actual information has been converted to
the non -GAAP budgetary basis.
ADO P
-38- --
-7
CITY OF
IOWA CITY,
IOWA
NOTES TO FINANCIAL STATEMENTS
June 30, 1986
A reconciliation of the
revenue and
other financing
sources
over (under)
expenditures and other financing uses, budgetary
(non -GAAP)
basis with
(
revenue and other
financing
sources
over (under)
expenditures and other
financing uses,
GAAP basis
is as follows:
p
i�
Special
Debt
Capital
Special
General
Revenue
Service
Projects
Assessments
Fund
Funds
Fund
Funds
Fund
"
Revenue and other
financing sources over
(under) expenditures and
+
other financing uses,
,
!
budgetary (non -GAAP)
basis
;(531,144)
; 800,815
;(67,254) ;
2,696,086
; 536,920
Revenue adjustments:
Reverse prior year
accrued revenue
(691,839)
(952,197)
(44,752)
(14,947)
(209,655)
q
Property tax receivable
267,206
- -
61,568
Interest receivable
3,728
10,743
322
135
2,305
Grants receivable
1,489
131,904
- -
119,678
- P`
N
Accrued transfers in
1,577
Other receivables
449,962
217,722
-
520
181,425
Expenditures adjustments:
Reverse prior year
expenditure accruals
635,752
140,706
206,781
219,349
855
ti
Payroll and employee
benefits accruals
(453,901)
((8,)
(5,058
- -
Contracts payable
(48,893
660-
-
(128,193)
Matured interest payable
(8,277)
Accrued transfers out
(11,590)
'
Accruals for subsequent
expenditures
(174,124)
(112,950)
- -
(15,486)
-
Other payables
(82,248)
(3,854)
(5)
(20,589)
(614)
Encumbrances
83,241
60,517
Revenue and other
_1
financing sources over
(under) expenditures
and other financing
uses, GAAP basis Sj550_784)
;-270_483
5148_383 E 2_851_495
;_511,236
iJ
1
J
i
i-
iJ
� I
0 bib %
-39-
■
CITY OF IOW CITY, IOW
NOTES TO FINANCIAL STATEMENTS
June 30, 1986
Legal Program Budget Compliance:
The following schedule compares, by program, the total expenditures and
encumbrances of legally budgeted funds, with the amended statutory budget for
the year ended June 30, 1986, to demonstrate legal compliance with the budget
of the City as a whole.
Community Protection
Human Development
Home and Community Environment
Policy and Administration
Transfers Out
Note 4. Deficit Fund Balances
As of June 30, 1986, the Bridge, Street, and Traffic Control Construction
Fund has a deficit fund balance of $90,419. This deficit does not represent
a violation of any law and results primarily from expenditures in excess of
funding provided to date on several individual capital projects. The deficit
will be recovered in the future from grants, transfers from other City funds,
and proceeds from general obligation bonds.
Note s. Pension and Retirement Systems
The City contributes to two local pension and retirement systems and to the
Iowa Public Employee Retirement System (IPERS) which is administered by the
State of Iowa. All of the systems are contributory and substantially all
permanent employees must participate in one of the systems. Each of the
local systems is administered by a local board, which has three members
appointed by the City Council, the City Treasurer, the chief officers of the
department, and two members elected by the participating members. They are
regulated by Iowa statutes. The City acts as custodian for the assets of the
local systems. Following is a table indicating the systems, the employees
covered, and the allocation of the City's covered payroll of $9,468,888, for
the year ended June 30; 1986:
Number of
System Employees Covered
Local:
Fire All fire civil service employees
Police All police civil service employees
State, IPERS All other permanent employees
Irc,%x,
-40-
Covered Payroll Employees
$1,223,839 49
1,434,000 53
56 8g`iiSB'049 8BB 370M
Addeo
Actual
Expenditures
Variance
Amended
and
Favorable
Budget
Encumbrances
(Unfavorable)
$ 4,257,278
$ 4,173,484
$ 83,794
3,339,002
3,231,692
107,310
14,663,017
13,762,712
900,305
3,616,446
3,307,422
309,024
6,909,438
6,044,760
864,678
As of June 30, 1986, the Bridge, Street, and Traffic Control Construction
Fund has a deficit fund balance of $90,419. This deficit does not represent
a violation of any law and results primarily from expenditures in excess of
funding provided to date on several individual capital projects. The deficit
will be recovered in the future from grants, transfers from other City funds,
and proceeds from general obligation bonds.
Note s. Pension and Retirement Systems
The City contributes to two local pension and retirement systems and to the
Iowa Public Employee Retirement System (IPERS) which is administered by the
State of Iowa. All of the systems are contributory and substantially all
permanent employees must participate in one of the systems. Each of the
local systems is administered by a local board, which has three members
appointed by the City Council, the City Treasurer, the chief officers of the
department, and two members elected by the participating members. They are
regulated by Iowa statutes. The City acts as custodian for the assets of the
local systems. Following is a table indicating the systems, the employees
covered, and the allocation of the City's covered payroll of $9,468,888, for
the year ended June 30; 1986:
Number of
System Employees Covered
Local:
Fire All fire civil service employees
Police All police civil service employees
State, IPERS All other permanent employees
Irc,%x,
-40-
Covered Payroll Employees
$1,223,839 49
1,434,000 53
56 8g`iiSB'049 8BB 370M
Addeo
CITY OF IOWA CITY, IOWA
MOTES TO FINANCIAL STATEMENTS
June 30, 1986
Local Systems
Pension and retirement benefits for the local systems are mandated by Iowa
Statutes Chapters 410 and 411. A member may retire with full benefits after
-. reaching age 55 and having served 22 years or more. If a member has served
15 to 22 years upon termination of employment, he shall receive at age 55 a
prorated benefit based on the number of years served. The retirement
allowance, payable monthly for life, equals 50% of the member's average final
compensation or average earnable compensation for the three years of highest
compensation of the members.
A member with five or more years' credited service who becomes totally and
J permanently disabled from other than duty -related causes shall receive an
ordinary disability. retirement allowance equal to 40% of the member's average
final compensation. This percentage is lowered to 25% if the member has
under five years of service. If the member becomes totally and permanently
disabled from duty -related causes, he shall receive an accidental liability
retirement allowance equal to 66-2/3% of the member's average final compensa-
tion.
Upon the death of a member caused by performance of duty, the member's
spouse, children or dependent parents shall be paid 50% of the member's
average final compensation. If a member dies in or out of service after 15
or more years of service, the lump sum amount to be provided is equal to 50%
of compensation earnable by the member during the year preceding death or in
the last year of service. There is an option whereby the beneficiary may
receive a pension of 25% of the member's average final compensation or $75
per month. There shall also be paid for each child of a member a monthly
pension equal to 6% of the monthly earnable compensation paid to an active
J member at the highest grade until age 18 or 22 if applicable. Pension
payments are made to an unmarried surviving spouse, surviving children until
they reach 18 or 22 if applicable, or to a dependent father or mother if a
member has no spouse or children.
On January 1 and July 1 of each year, pensions payable to members or a
beneficiary, except retirees with less than 22 years of service, are
readjusted by a percentage of the increase in monthly earnable compensation
of active members at the same rank and salary scale position held by the
member at retirement or death.
I
Funding Requirements
Employee contributions to the fire and police systems are determined by Iowa
statutes. The State of Iowa contributes to the fire and police systems to
the extent necessary to fund increased benefits legislated by the Iowa
General Assembly. The employer contributions are determined as a percentage
of payroll to cover the remaining amounts necessary to finance the systems.
These rates are made based upon an actuarial cost method stipulated by Iowa
statutes, which is essentially an aggregate cost method with no provision for
any unfunded past service liability.
_41-
0700 r
01
CITY OF IOWA CITY, IOWA
MOTES TO FINANCIAL STATEMENTS
June 30, 1986
For funding purposes, the following significant assumptions were used in the
actuarial valuations as of June 30, 1986 and 1985: (1) an assumed rate of
return on investments of 6% per year compounded annually; (2) projected
salary increases of 4% per year compounded annually attributable to infla-
tion; (3) pre- and post-retirement life expectancies of participants based on
standard actuarial tables; and (4) rates of withdrawal from active service
before retirement for reasons other than death, rates of disability and
expected retirement ages developed on the basis of an investigation of actual
plan experience.
Financial Reporting
For financial reporting purposes, the actuarial present value of credited
projected benefits has been computed and included in these financial
statements. The actuarial present value of projected benefits consists of:
(a) the actuarial present value of projected benefits payable to current
retirants and beneficiaries, (b) the actuarial present value of projected
benefits payable to terminated vested participants, and (c) the actuarial
present value of credited projected benefits for active participants. The
actuarial present value of credited projected benefits for active partici-
pants represents a portion of the actuarial present value of projected total
benefits, giving effect to estimated salary increases to date of retirement.
The portion assumed to be credited is the portion represented by the ratio of
(a) the number of years covered service rendered as of the date of the
valuation to (b) the total covered service which will have been rendered as
of the expected date of retirement. The actuarial present value of credited
projected benefits and the unfunded portion thereof reported in these
financial statements differ from the actuarial accrued liability and the
unfunded portion thereof developed for funding requirement determination
because different actuarial cost methods are used for the two purposes.
`b m, 7.1b
-42-
CITY OF IOWA CITY, IOVA
NOTES TO FINANCIAL STATEMENTS
June 30, 1986
A summary of the actuarial valuations for financial reporting purposes are as
follows:
Fire Police
Date of actuarial June 30, June 30, June 30, June 30,
valuation 1986 1985 1986 1985
Net assets available $ 5,772,640 $ 5,026,965 $5,186,260 $4,541,353
Actuarial present value of
projected benefits payable
to current retirants and
i7 beneficiaries E 3,854,387 $ 2,951,651 $2,117,725 $1,736,659
Actuarial present value of
j J credited projected benefits
for active participants 3,439,320 3,601,475 2,939,582 2,739,241
Total actuarial present value of
credited projected benefits f 7,293,707 $ 6,553,126 $5,057,307 $4,475,900
Actuarial present value of
_i credited projected benefits
(over) under net assets
availablefjl 521 067) fjl 526 161) f 128 953_ E__ 65.453
s='='available-------- -==------=- ---------
J Increase in total actuarial
present value of credited
projected benefits from
last valuation E===740,581 f=_ 440,326 5==581,407 E==3291172
I
Investments
Market values as of June 30, 1986 for the investments of the fire and police
pension and retirement systems are as follows:
Market Value Cost
Fire $5,697,152 $5,585,135
Police 5,114,558 5,014,001
Iowa Public Employees Retirement System
The retirement system administered by the State of Iowa, IPERS, is funded by
amounts withheld from the participating employees and an amount contributed
by the City. These contributions are determined by the statutes of the State
of Iowa and as of June 30, 1986, the percentages to be contributed on the
first $22,000 of compensation were 3.7% for the employees and 5.75% for the
City.
All permanent employees of the City, not covered by one of the local retire-
ment systems, are members by statute of the Iowa Public Employees Retirement
System (IPERS). IPERS is a multiple -employer plan administered by the State
of Iowa. There are approximately 129,000 active employees participating in
the plan.
.43-
aoadr
CITY OF IOW CITY, IOWA
MOTES TO FINANCIAL STATEIENTS
June 30, 1986
Members, upon termination of service after 4 years or reaching age 55, may
exercise a vesting interest in a future retirement. Upon reaching age 65, or
early retirement at age 55, the member will receive a retirement allowance
based on a monthly formula set by the statutes. Any member who terminates
employment before retirement is entitled to a refund of their contributions
Plus interest.
Upon the death of an active or vested member, both the member's contributions
and the employer's contributions, plus interest, are payable to the benefici-
ary.
As mentioned earlier, IPERS is a contributory system wherein all credited
benefits are funded with sufficient contributions. Unlike Social Security, no
liability is assessed against future IPERS contributors for payment of
present IPERS benefits. An actuarial valuation is performed annually. The
most recently published report, dated June 30, 1985, shows a total asset
amount of $2,581,395,977 and an accrued liability, which represents the
present value of future costs attributable to prior service as of June 30,
1985, of ;101,150,968, a decrease of approximately $4,253,806 from last year.
To liquidate the accrued liability with annual payments commencing June 30,
1986 and ending June 30, 1998, the needed annual payment is $10,223,465. All
the City's contributions for the year ended June 30, 1985, which represent
approximately .32% of the total employers' contributions, have been paid
within 30 days after year end.
The 20 year funding payment on the liabilities attributable to the 1978
increases in retirees' benefits is $4,692,442.
The June 30, 1985, valuation, using the assumptions stated in the actuarial
report, shows that the total 1985-1986 fiscal year cost of benefits under the
System, including the State contribution, is $158,326,056 or 8.05% of covered
payroll; and such fiscal year cost of benefits under the System, but exclud-
ing the State contribution, is $157,826,056 or 8.03% of covered payroll. This
percentage is 1.01% lower than last year. The decrease is due to the actual
experience (as to deaths, turnover, salary increases and fund earnings) of
the System being, in the aggregate, favorable in relation to expected
experience. In particular, fund earnings were approximately $109,279,000 in
excess of earnings expected under the interest rate assumption of 6.5%.
The 8.03% of covered payroll contribution requirement is 1.42% less than the
basic 9.45% of combined payroll contributions now being made by the employees
and their employers.
In 1975 the General Assembly expressed the intent that contributions rates be
rate ofreviewestate annua generaltf nd revenu she General sexceedsa5.50%afori he hprecedingeJuneo30h
contribution rates will be increased .1% of covered pay for the members and
5% for their employers. Such increases would continueuntil the rate is 4%
of covered pay for members and 7.2% for their employers.
-44-
A461
FM
CITY OF IOWA CITY, IOWA
NOTES TO FINANCIAL STATEMENTS
June 30, 1986
The General Assembly also expressed the intent that the formula benefit be
reviewed annually by them. They were to consult with the Iowa Public
Employees Retirement System Division, and with the consulting actuaries, in
considering an increase in the benefit formula. The intent that the present
benefit formula be increased ultimately to 50% of the final five year average
salary has now been fully realized.
i
Contribution Schedule
Other information concerning the pension and retirement systems for the year
ended June 30, 1986 is as follows:
Fire Police IPERS
Employees' contributions f 37,939 S 44,454 $252,009
Employer's contributions 381,251 253,604 391,635
State contribution 46,785 40,186
Contributions as a percentage
of active member payroll:
City 29.54% 17.69% 5.75% jt
State 3.66 2.65 - r
Employees 3.10 3.10 3.70
Percentage ofcompensation to be f
contributed for year ending
June 30, 1987 per actuary:
City 30.72% 17.52% 5.75%
State 3.66 2.65 -
Employees 3.10 3.10 3.70
i-:
-45- �o�M�
CITY OF IOW CITY, IOWA
NOTES TO FINANCIAL STATEMENTS
June 30, 1986
Note 6. Segment Information for Enterprise Funds
i
The City maintains seven enterprise funds. These funds are set up to operate
primarily from proceeds of user charges. Segment information as of and for
the year ended June 30, 1986, is as follows:
Results of operations:
Operating revenue
Depreciation
Operating incase (loss)
Operating grants
Operating transfers
in (out), not
Interest expense
Extraordinary item
Net income (loss)
Financial position:
Total assets
Not working capital
Property and equipment,
additions
Long-term debt
Retained earnings
(deficit)
Current capital contri-
butions
Total equity
Results of operations:
Operating revenue
Depreciation
Operating incaar (loss)
Operating grants
Operating transfers in
(out), net
Interest expense
Extraordinary item
Net incoma (1025)
Financial position:
Total assets
Net working capita)
Property and equipment,
additions
Long-term debt
Retained earnings
(deficit)
Current capital contri-
butions
Total equity
,':J4C.
Pollution
Parking Control Water Sanitation
S 1,630,590
$ 1,521,584
252,272
361,998
510,209
194,528
(516,694)
(115,684)
406,543
142,802
999,515
- -
679,618
207,643
10,646,292
816,958
1,287,273
5,277,569
4,714,911
4,762,617
18,328,801
1,820,651
1,101,781
2,530,918
1,585,979
110,252
15,628,617
$1,651,291
179,819
(172,336)
39,342
(126,468)
5,995,138
(833,441)
373,461
200,000
2,295,678
57,375
4,290,244
$1,264,144
4,749
(57,709)
1,042,956
550,740
15,308
773,969
919,233
Housing Mass
Airport Authority Transportation Total
$ 74,865
24,951
(116,989)
87,418
(18,692)
924,228
76,479
233,690
(258,627)
239,208
897,063
-46-
S 426,655
111,913
60,647
191,926
(112,262)
3,413,707
164,851
25,730
3,004,494
(214,595)
3,631
31,037
$ 831,043
$ 7,400,172
262,859
1,198,561
(1,534,828)
(1,116,478)
329,700
329,700
1,227,111
681,961
-
780,613
999,515
25,673
636,756
4,424,244 44,775,366
(149,948) 2,446,290
47,625 3,084,868
. - 11,012,981
462,099 9,359,414
25,079 435,545
4,027,633 30,556,444
-I
CITY OF IOWA CITY, IOWA
NOTES TO FINANCIAL STATEMENTS
June 30, 1986
Note 7. Bonded and Other Long—tern Debt
General Obligation Bonds
Various issues of general obligation bonds, totaling $13,625,000, are
outstanding as of June 30, 1986. The bonds have interest with rates ranging
from 4.40% to 8.80% and mature in varying annual amounts ranging from
$200,000 to $500,000 per issue, with the final maturities due in the year
ending June 30, 1996. Interest and principal payments on all general
obligation bonds, except tax abated portions recorded in the enterprise
funds, are accounted for in the Debt Service Fund.
Portions of several general obligation bond issues have been used to acquire
or expand the enterprise fund facilities. In some instances, revenue
generated by the enterprise funds is used to pay the general long-term debt
principal and interest. The liability for those bonds which are expected to
be paid by the enterprise funds are included as liabilities of those funds.
Obligations Under Capital Leases
Equipment with a cost of $302,394 is being acquired under capital leases. The
June 30, 1986 balance of $212,569 is due in monthly and annual installments
ranging from $35,839 to $70,114 each year, including interest ranging from
7.00% to 10.77%, with the final installment due in May, 1991.
Revenue Bonds
As of June 30, 1986, the following unmatured revenue bonds are outstanding:
Parking Pollution Control Water
Amount $5,370,000 $800,000 $706,000(A)
Interest rates 5.50% to 10.00% 3.25% to 3.75% 3.50% to 4.20%
Annual maturity $60,000 to $75,000 to $35,000 to
$515,000 $100,000 $177,000
The revenue bond ordinances require that pollution control and parking system
revenue be set aside into separate and special accounts as it is received.
The use and the amounts to be included in the accounts is as follows:
Account Amount
(a) Revenue Bond Sinking Amount sufficient to pay current bond and
interest maturities.
(b) Bond and Interest $1,000 per month for pollution control
Reserve bonds and $5,000 per month for parking
bonds until the reserve balance equals the
maximum amount of principal and interest
due on the bonds in any succeeding fiscal
year.
U tic
-47-
.?0 0 r
T
CITY OF IOWA CITY, IOWA
NOTES TO FINANCIAL STATEMENTS
June 30, 1986
(c) Depreciation,
$2,000
Extension and bonds andr$5,000 per month for monthttanacmaximum
Improvement fund balance of $300,000 for parking
bonds.
j (A) On June 30, 1986, the City created the Water Revenue Bond Funding Trust,
a self administered trust, and transferred
available funds totaling $652,894 and all of the ou standingthe abondsFfrom
Water Revenue Bond Issues Series 1961 and 1967 which totaled $706,000.
These funds were converted to U.S. government securities for the express
Purpose of
Paying the principal and interest on the revenue bonds as
they cane due. The annual debt service requirements of the bonds are as
follows:
1.
Year Ending
_June Prin�iRLI Interest
1987 $ 70,000 $26
373
1988 ,580
1989 120000 21,580
1990 159000 15,737
1991 ' 10,246 _ is
1992 75 000 5,755
1993 75,000 2,922
35,000 735
Special Assessment Bonds
As of June 30, 1986, $195,000 of unmatured special assessment bonds are
outstanding. The annual maturities range from $35,000 to $40,000, and the
bonds have
a
10% interest rate. The special assessment bonds were issued to
finance new street and sewer construction and are
assessments collectio a fund _
ns
ed
b
t
• y he special
Refunding of Parking Revenue Bonds
I The 1978 Series Parking Facility Revenue Bonds with a total outstanding
balance of $4,730,000 were refunded in November 1985 b I
$3,195,000 1985 Series Parking System Revenue Bonds. ' Any irrevocable trusof
t
I was created with an unrelated third party whereby the proceeds from the 1985
Series Bonds were converted into U.S.
ties were placed in an escrow account for theent expressrpurpose oThri-
fepayinguthe
principal and interest on the refunded bonds as they come due•_
nary gain of f999,515 has been recognized on the refunding of theseebonds.
t},
'I
,d
-48-
a00P
CITY OF IOWA CITY, IOWA
NOTES TO FINANCIAL STATEMENTS
June 30, 1986
Summary of Bond and Other Long -Term Debt Transactions
r i
A summary of the changes in long-term debt, by type, for the year ended June
30, 1986, is as follows:
Balance
June 30, 1986
$ 975,000
900,000
3,000,000
1,800,000
2,250,000
4,700,000
$13,625,000
$ 5,370,000
800,000
706,000
33�T�ba6'
$ '6195 000
ti
$ 326,637
850,482
E 1,177,119
I i
Bond Issuance Discount
The Parking Revenue Bonds issued in the current year were sold at a discount of
_ $96,015, The debt is presented on the balance sheet net of the unamortized
discount.
i.l
� JI G
G Q. -49- Coo i
_T
Increases
Reductions
Balance
in Long -Term
In Long -Term
June 30, 1985
Debt
Debt
_i
Bonded Debt, at par
General Obligation
Issue 1977
Issue 1978
f 1,300,000f
1,200,000
_ _
E 325,000
Issue 1979
3,500,000
- -
300,000
500,000
Issue 1980
Issue 1982
2,000,000
2,500,000
_ _
200000
Issue 1985
- -
4,700,000
250,000
- -
Total general
obligation
E10,500,000
$ 4,700,000
$1,575,000
Revenue
j
Parking
Pollution Control
$ 4,860,000
870,000
$ 5,370,000
-
$4,860,000
Water:
-
70,000
Original issue
Amount funded-
846,000
- -
846,000
Total revenue
$ 6;576.iO
- -
O�
706.000)
Special Assessment
f 230 000
S
f 35,000
Total bonded debt
;f70ObO�
>;j p6�66
Other Debt
i
Employee vested benefits
-J
Long-term vacation
$ 329,699
$ 485,655
$ 488,717
Long-term sick leave
929,785
12,270
91,573
^1
Total employee vested
J
benefits
$ 1,259,484
$ 497,925
$ 580,290
Obligations under capital
leases
Total other debt
35 136
�a
212,090
34,657
Total long-term debt
518,600,620
5101780 015
f7 294 947
Balance
June 30, 1986
$ 975,000
900,000
3,000,000
1,800,000
2,250,000
4,700,000
$13,625,000
$ 5,370,000
800,000
706,000
33�T�ba6'
$ '6195 000
ti
$ 326,637
850,482
E 1,177,119
I i
Bond Issuance Discount
The Parking Revenue Bonds issued in the current year were sold at a discount of
_ $96,015, The debt is presented on the balance sheet net of the unamortized
discount.
i.l
� JI G
G Q. -49- Coo i
_T
'r "
CITY OF IOWA CITY, IOWA
—
NOTES TO FINANCIAL STATEMENTS
June 30, 1986
—
Sunmary of Principal and Interest Maturities
i
i Annual debt service requirements to service all outstanding bonded debt,
other than the funded water
follows: revenue bonds, as of June 30; 1986 are as
Year Ending General Obligation Obligations Under
June 30Bonds Capital Leases
Principal Interest Principal Interest
'-
1987 ; 2,025,000 S 873,825 ; 56 445 $13,669
1988 2,025,000
763,325
1989 2,050,000 650,275 59,400 10,713
1990 30019 820
1,675,000 532,850 32,189
1991 650
3
1,675,000 423,750
34,516
1992-1996 4 175 000 323
162 875 1,
- -
Year Ending Special Assessment Revenue
June 30 Bonds Bonds
cipal Interest Principa
Prinlnterest
:a +
1987
1988 $ 35,000 $ 19,500 S 135,000 $ 518,578
40,000 16,000
1989 240,000 486,448
1990 000
1471403
40,000 8,000 255000 ,000 455,533
1991 40,000 4,000
1992-1996 295,000 438,538
- -
1997-2001 1,695,000 1,859,566
-
- 1,995,000 1,127,293
2002-2004
1 310 000 184 850
MEN== Lf7FLW
LegalLegal 0ain
As of June 30, 1986, the general obligation debt issued by the City did not
exceed its legal debt margin
computed as follows:
Assessed valuation:
i
Real property
Utilities $1,179,084,752
„
Monies and credits 60,696,942
Total valuation 28 816
„
Debt limit, 5% of total assessed valuation $61,990,526
Debt applicable to debt limit
I
9 13 837 56
i Legal debt margin 9
, aaa__aa aaa
Q;} -50- Ado?
-
CITY OF IOWA CITE, IOWA
NOTES TO FINANCIAL STATEMENTS
June 30, 1986
1
I
I
I
I
_I
By funding source:
General Fund
Housing Authority Notes
;733,630
;212,093
; 4,131,447
The housing authority project notes were issued by
the Iowa City Housing
Authority to the U.S. Department
of Housing and Urban Development (HUD) to
Funds
finance the construction costs of
the City's public
housing projects. The
1,497,173
notes bear interest at 6.625% and
at maturity it is
anticipated that these
- -
short-term project notes will be
refinanced with a
long-term (forty year
note sale as agreed upon in the
turn -key contract
for each program. The
principal and interest are to be
paid by funds received
from the Housing
General
Authority's annual contribution contract with HUD.
Note 8. Changes in General Fixed Assets
obligation
During the year ended June 30, 1986, general fixed
asset acquisitions and
bond proceeds
disposals by type and funding source were as follows:
17,541
J
Balance
Acquisitions
Balance
560T
June 30, 1985
and Transfers Disposals
June 30, 1986
MMMH
By type:
€3I�08g
Land $ 2,930,583
$105,787 ;
- - ;.3,036,370
_;
Buildings and
structures 7,323,265
62,317
_ _ 7,385,582
Other improvements 379,587
66,130
445,717
Equipment and
vehicles 2,181,621
672,409
277,870 2,576,160
Construction in
progress _4h4g
8R= I
3
x,11
Tttt
307y
1
I
I
I
I
_I
By funding source:
General Fund
i 3,609,910
;733,630
;212,093
; 4,131,447
Special Revenue
Funds
1,397,466
189,518
89,811
1,497,173
Gifts
86,525
2,478
- -
89,003
Capital Projects
Funds:
General
obligation
bond proceeds
5,244,797
17,541
10,185
5,252,153
Other governments
22 4050
560T
22 131 '6'
MMMH
!22K7.
€3I�08g
-51-
CITY OF IOWA CITY, IOWA
Improve.
NOTES TO FINANCIAL STATB EWrS
June 30,
1986
During the year ended June 10, 1986, general fixed asset
disposals by function were as fo )laws;
acquisitions and
and 1,
Vehicles Progress
Chances In General Fixed Assets
Polley B Admtnfitratlon:
General
Acquisitions
General
commonalty Protection:
Fixed Assets
June 30, 1985
and
Transfers 013OS619
Fixed Assets
June 30, 1986
Pal' c and Ministration:
f - f 48,720 f - • f
41,561 307,691 - •
571,433 f . - f
482,923
583,153
snare n f re on
f 1.241,178
$336,531 $200,018
6 1,377,691
Ganem( Protection:
--
3.804
Fi ncprottcttonm
$ 0$:33!0
3131;59 3 67;751
$ 583,153
2,195
services es
l3 4711
326
We
Tot',
oteCon usnity Proteetton
T17T1.`052
52T1
no r:W
TT'7714
D�
Nunn Dermloe.ent:
843,159 - .
912,822
1,111,208
Total -Human
Perks
Recreation
f 1,462,145
899,124
$184,447 f - •
13,698
f 1,616,592
Library
Senior
rDevelopment
1,209,241
215,719 10,752
912,822
1,411,208
Total Human
f.2Tla11d7`w 91 771
ITil7a.961' 1"TD:7Sf 4 087
305 858
IY-R+179':7A8
Hare and Community, Enrlronrent;
Co173,797
iaunity deralOOMt
Physical enviraom"t
Com�:nity dereloagowt
3 176,121
2,031,263
f 2,126 f 4,450
- -
f 173,797
StrNN and trafllc
10,162 • -
- -
2,031,267
engineering
Total Homme and Community
201.601
-
1_ 4,152215,753
Community
Environment
f 2.408,985
3 1_6,278 ff 4.150
S 2.420,813
Total General Fixed Assets
11;68111!28
t921a"I 3212a282
IIIa:O..ea1::
-� tI b mer'.
As of June 30, 1986, the composition of gnerml fixed Assets by type end
function was as folk,,,;
-52-
Improve.
Buildings MAor
Co
Equipment tton s-
and Than
Land Structure Bld6s,
and 1,
Vehicles Progress
Total
Polley B Admtnfitratlon:
General ad•lnistrition S 72.150 f 841.457 0 641 f
112.683 150,560 f 1.777.691
commonalty Protection:
Policy protection
Fire protection
f - f 48,720 f - • f
41,561 307,691 - •
571,433 f . - f
482,923
583,153
Inspection services
• - 5.271 -
9.577
872,196
Total Community
--
3.804
Protection
1 41.581 'f 361.682 1 • $1.026.889 3__• 1
1.130.152
Hunan Development:
Parks
Recreation
1 773,939 1 548,920 1266,224 $
• - 826,103 11,188
43,762 513,747 f
75,531 ..
1,646,592
Library
Senior Canter
155,000 3,416,049
843,159 - .
912,822
1,111,208
Total -Human
- 1.202.551 1.850
101.154 ' -
1.305.858
Developrent
f 928.939 $5.993.626 1279.262 $1.063.906
$13,747 f
8.279.480
None end Community
Environment:
Co173,797
iaunity deralOOMt
12 812 $
11,980,888 15,31
816 9S35134,097 717 1
1 315 1 f
Streets and traffic
10,162 • -
2,031,263
engineering_
Total bar and
172.048 --
13.705 -_
215.75)
Community
Environment
$1.993.700 f 188,817 1165.814 1
72.182 1 3
2.120.813
Total General Fixed
Assets
:;6:1.121: 1:118:x:8: l::d11� f215�66160 16�a1�1 1113r.'0.Ba176
-52-
00
Cs
s
w
CITY OF IM CITY, IOW
MOTES TO FINAKIAL STUDENTS
June 30, 1986
Note 9.-Interfund Receivables
and hlables
L
As of June 30,
1986, interfund receivables and payables
were as follows;
j
Other Share
Mater
Revenues
Other Pollution
Mass
Equipment
Central
Revenue Bonds
Fund, Due To: General
and Grants
Construction Control Sanitation
Transportation
Maintenance
Services
Funding Trust
Total
.'.
Fund, But Froat:
General { - -
{ - -
f - - { - 12,037
111,590
150.963
15,406
1 - -
1 70,014
Community ,
1 ,_,.:..
Developmsent
Block Grant 14,106
-
- - - - - -
- -
87-
167
. -
14,360
Other Shared Revenue
and Grants - -
- -
- - - - - -
- -
IJS
177
- -
312
Debt Service -
- -
- - ),140 - -
- -
- -
6
. •
3,116
Bridge. Street a
.;.
Traffic Control
Construction 4,354
-
67,056 - -
- -
- -
- -
• -
11,110
t
Other Construction - -
-
- 13,604 - -
- -
- -
- •
- -
13,604
Parking 188,500
- -
- - - - -
• -
3,123
48
- -
191.611
Pollution Control - -
- -
- - - - 151
- -
3,556
46
- -
3,753
-
Yater 14,547
- -
1,072,557 - - 508
- -
9,486
108
59,110
1,156,316
Sanitation - -
-
- - - - -
• -
23,221
15
- •
23,2)9
Airport - -
- -
- - - - - -
- -
1,383
74
• -
'1,157
-
Housing Authority - -
639
- - - - - -
-
- -
- -
- -
639
Mass Transportation 2,648
- - -
- -
5),870
106
- -
56,624
Equipment Maintenance
..
_ . .. _
_
. _
37
• -
3?
Central Supply _
_ .
_ . .. _
. -
750
- .
..
150
Perpetual Care 1,577
- -
- - - - - -
- -
• -
- -
- -
1,517
Johnson County
,
Council of
I
Governments 113
- -
- - - - -
• -
68
184
- •
365
"alror's youth - _
..
.. .. _
. _
..
31
..
34 ..i
Literary Foundation - -
- -
- - - - -
- -
- -
34
- -
Eldercraft - -
-
- - -
• -
- -
3
- •
3
Total
Ia..96
FEET�a.4i.:
Ird�a :Q
ji:�i.;6
.
.1,E
1
CITY OF IOWA CITY, IOWA
—
NOTES TO FINANCIAL STATEMENTS
June 30, 1986
—
Note 10. Urban Development Action Grant Loan Receivable
The City was awarded an Urban Development Action Grant from the U.S.
Department of Housing and Urban Development, in the
amount of $2,081,000, for
the purpose of loaning the proceeds to the developer of a downtown hotel
project which was completed in September, 1984. During the first two years
of the hotel's operations, interest is forgiven the loan
on and during the
third and fourth years, interest at 9% will be accrued and added to the
principal balance. Beginning October, 1989, the developer will make equal
monthly payments, including interest at 8%, final
—
with payment due July, 2009
(25 years from first grant disbursement). A first mortgage exists the
on
hotel property for the commercial development revenue bond financing and the
Urban Development Action Grant loan is
collateralized by a second mortgage.
Although the hotel is privately managed, the loan agreement provides for 25%
`
-'
participation in any net cash flow from operations or net proceeds from the
sale of the hotel to be
paid to the City. When loan payments begin, the
funds will be transferred to an economic development loan pool for projects
that might normally be funded under Urban Development Action Grant guide-
lines.
-I
w
Note 11. Federal Revenue Sharing
Federal revenue sharing monies, when received, are deposited in the Revenue
Sharing Fund temporary
I
as a depository for the purpose of satisfying the
accounting and reporting requirements of the federal
revenue sharing regula-
tions. The City budgets and accounts for the expenditure of federal
revenue
sharing monies within the appropriate operating fund, as determined by the
nature and purpose of each expenditure. As expenditures are made from
revenue sharing monies, the expenditure is charged to the individual
_
operat-
ing fund and a transfer is recorded as having been made from the Federal
Revenue Sharing Fund.
The following tabulation shows, by program, the amount of monies transferred
from the Federal Revenue Sharing Fund to the
various operating funds for the
year ended June 30, 1986:
Home and community environment $ 71,396
Policy and administration 358 160
Total
Note 12. Contractual Coritments
The total outstanding contractual commitments for construction projects as of
June 30, 1986, to
amount $508,481. The City also has an outstanding
commitment for professional engineering services to be performed for the
new
wastewater treatment facility in the amount of $4,716,000.
Note 13. Contingent Liabilities
The City is named as defendant in a lawsuit seeking damages of $500,000 for
alleged property damages. The City's general liability insurance carrier has
denied coverage. The City's legal counsel has estimated that the possible
range loss
of is $50,000 to $100,000.
3;ti, -54- ao08
-
CITY OF IOWA CITY, IOWA
NOTES TO FINANCIAL STATEMENTS
June 30, 1986
On May 29, 1986, the City was added by amendment to a lawsuit previously
filed against a property owner. The suit claims unspecified but potentially
substantial damages from the City as a result of an alleged negligent
inspection j disabilityf
asa result of a rental property,
o
naccident aththe s property. The laawsuilaintiff suffered tuisein the
early discovery stage and the City intends to defend the case vigorously. At
this time legal counsel is unable to give an estimate of the possible loss or
a range of the possible loss.
Various other claims and lawsuits were on file against the City as of June
30, 1986. It is estimated that the potential settlements against the City,
not covered by insurance, would not materially affect the financial position
of the City. The City has the authority to levy additional taxes (outside
the regular limit) to cover uninsured judgements against the City.
Effective June 27, 1986, the City has decreased its general liability
insurance coverage to ;1,000,000.
The City provides health care coverage for all of its permanent employees.
The City reimburses a health insurance provider for actual medical costs
incurred plus a processing fee.
Permanent City employees accumulate sick leave hours for subsequent use, The
City's approximate maximum contingent liability for non -vested sick leave
benefits as of June 30, 1986, is as follows:
Governmental fund type $1,113,304
Proprietary fund type 319 391
Total
Note 14. Deferred Compensation Agreement
The City of Iowa City maintains for its employees a deferred compensation
plan structured and operated in accordance with the provisions of Internal
Revenue Code Section 457, The plan, available to all permanent non-union City
employees, permits them to defer a portion of their salary until future
years. The deferred compensation and accumulated earnings thereon, totaling
$607,675 at June 30, 1986, is not available to employees until termination,
retirement, death, or unforeseeable emergency.
The plan is fully funded by the City as the deferred compensation is earned
by the employees. Plan assets, and the related liability to employees, are
accounted for in the Employees Deferred Compensation Fund, an agency fund, at
the current market value of the investments.
All amounts of compensation deferred under the plan, all property and rights
purchased with those amounts, and all income attributable to those amounts,
property, or rights, are, until paid or made available to the employee or
other beneficiary, solely the property and rights of the City and are not
restricted to the provision of benefits under the plan. Plan assets are
subject to the claims of the City's general creditors. Participants' rights
10 t
-55-
,2004
i
CITY OF IOW CITY, IOW
NOTES TO FINANCIAL STATEMENTS
June 30, 1986
under the plan are equal to those of general creditors of the City in an
amount equal to the fair market value of the deferred account for each
participant.
It is the opinion of the City's legal counsel that the City has no liability
for losses under the plan, but does not have the duty of due care that would
be required of an ordinary prudent investor. The City believes that it is
unlikely that it will use the assets to satisfy the claims of general
creditors in the future.
Note 15. Industrial Developaent Revenue Bands
Since 1980, the City has participated in thirty-nine issues of industrial
development revenue bonds, ranging from $70,000 to $26,000,000, issued for
the purposes of constructing privately operated manufacturing, medical and
other facilities within the City. These bonds are not direct or contingent
liabilities of the City. Revenue from lease agreements and property purchased
with the bond proceeds are pledged for the total payment of principal and
interest on the bonds and the bondholders can look only to these sources for
repayment.
Note 16. Subsequent Event
On August 1, 1986, the City issued $6,350,000 of general obligation bonds to
finance various capital improvement projects. The bonds have interest rates
ranging from 4.7% to 7.00% and mature in varying annual amounts ranging from
$350,000 to $500,000, with the final maturity due in the year ending June 30,
2002.
The City has also issued $38,950,000 of Sewer Revenue Bonds subsequent to
year end. The bonds have interest rates ranging from 7.60% to 7.80% and
mature in varying annual amounts ranging from $650,000 to $3,400,000, with
the final maturity due in the year ending June 30, 2013.
%t,,63�a
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CITY OF IOWA CITY j
J SPECIAL REVENUE FUNDS
— The Special Revenue Funds are utilized to account for revenue derived from
J specific sources which are required to be accounted for as separate funds.
The funds included in this category and their purpose are as follows:
j`
Community Development Block Grant Fund - accounts for revenue from U.S.
Department of Housing and Urban Development Community Development Block
Grant programs.
Other Shared Revenue and Grants Fund - accounts for revenue from various
sources, including road use tax monies and reimbursable programs funded by
federal and state grants.
J Federal Revenue Sharing Fund - accounts for monies received from Federal
Revenue Sharing entitlements. .,
Urban Development Action Grant Fund - accounts for the repayment of the
I
Urban Development Action Grant funds loaned to the downtown hotel.
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CITY OF IOWA CITY,
IOWA
COMBINING BALANCE SHEET
ALL SPECIAL REVENUE
FUNDS
June 30, 1986
�1
Other
Community
Shared
Federal
Urban
u i
Development
Revenue
Revenue
Development
ASSETS
Block Grant
And Grants
Sharing
Action Grant Total
Investments
$ 317
$ 368,724
$ 422,413
$ - -
$ 791,454
Receivables:
Interest
- -
3,986
6,758
- -
10,744
Action grant loan
- -
- -
- -
2,081,000
2,081,000
-
Due from other funds
- -
639-
-
- -
639
Due from other governments
135,531
104,740
112,434
- -
352,705
-
Total assets
$==13542M
S 478 089
S_ 541 605
S2 081 000
S3 236 542
LIABILITIES AND
-
MUNICIPAL EQUITY
r
Liabilities:
Accounts payable
$ 105,461
$ 8,106
$ -
S - -
S 113,567
Contracts payable
8,660
- -
- -
- -
8,660
Accrued liabilities
7,367
6,896
- -
- -
14,263
Due to other funds
14,360
312
- -
- -
14,672
Deferred revenue
- -
3 079
- -
2 081 000
2 084 079
Total liabilities
32;083;600
$2.235.241
J
i
Municipal equity, fund
balance (deficit):
Reserved for
encumbrances
$ 3,502
$ 44,000
$ - -
$ -
$ 47,502
Unreserved
(3,502)
415,696
541,605
- -
953,799
Total municipal
equity
$ -
$ 459,696
$ 541,605
$ -
$1,001,301
Total liabilities and
municipal equity
5==135,848
$==478,089
f==541,605
f2,0813000
53,2363542
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CITY OF IOWA CITY, IOWA
COMBINING STATEMENT OF REVENUE, EXPENDITURES
AND CIWMGES IN FUND BALANCES
ALL SPECIAL REVENUE FUNDS
Year Ended June 30, 1986
Other
Community Shared Federal Urban
Development Revenue Revenue Development
Block Grant And Grants Sharing Action Grant Total
REVENUE
Intergovernmental $ 777,555 $ 1,794,649 $ 516,507 $ _ _ $ 3,088,711
Charges for services 34 - -
Use of money and _ _ 59,294
property 63 22,059 37,172
Miscellaneous . 1
1659566
Totar027� f---
Total revenue ,'524 Vl-,313,605
EXPENDITURES
Home and community 519,353
environment S 519,353 $
- $ -- S - $
Policy and
administration - - 147,312 697 - 148,009'
Capital outlay 283 171 16 221 - - - - 299 392
Total expenditures
Revenue over
expenditures $ - - $ 1,793,869 $ 552,982 $ - - $ 2,346,851
OTHER FINANCING
SOURCES (USES)
Operating transfers
(To) other funds - - (1,641,510) 4( 28,858) - - (2,076,368)
Revenue and other
financing sources
over (under)
expenditures and
other financing
uses S - - $ 146,359 $ 124,124 $ - $ 270,483
FUND BALANCE, BEGINNING - - 313,337 417,481 730,818
FUND BALANCE, ENDING S - S 459 696 S=_541,605 $ __ - 5_12001=301
06
+p
REVENUE
Intergovernmental
Charges for service,
use cl money and property
NlfbllMawf
Total review
EIREWfTURES
Hari and coemunity environment
TOI try and aAeln Hlntlm
Capital wile,
Total aapendllures
Review over upmditures
OTHER FINANCING (USES)
Operat he, traelfers
(to) ether funds
Revenue over (undo)
enpaadllurel and
other financing use%
EURO BALANCE (BEFICITI, KGIMMIN6
FIMO BALANCE (DEFICIT), FINING
(ami lnud)
CITY OF IOW CITU, TOM
SOME U OF REVENUE. EXPENDITURES
AND CIWGES IN FIND NALAMCE
MON-GAAP OASIS - K=n AND ACTUAL
ALL SPECIAL REVENUE FINDS
Year Ended June 30, 1986
(Page 1 of 2)
Cammivnity OeveloPent Varlance Other Shared
01ock grant --l—War— lUFavorable Revew W irMb Variance
nlavoreblel le
cue Unfavorable
1 671,612
1 612,1191
(59,557)
I
I
32
o+
O
63
�)—
%24 1111
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24 oil
IjKE
REVENUE
Intergovernmental
Charges for service,
use cl money and property
NlfbllMawf
Total review
EIREWfTURES
Hari and coemunity environment
TOI try and aAeln Hlntlm
Capital wile,
Total aapendllures
Review over upmditures
OTHER FINANCING (USES)
Operat he, traelfers
(to) ether funds
Revenue over (undo)
enpaadllurel and
other financing use%
EURO BALANCE (BEFICITI, KGIMMIN6
FIMO BALANCE (DEFICIT), FINING
(ami lnud)
CITY OF IOW CITU, TOM
SOME U OF REVENUE. EXPENDITURES
AND CIWGES IN FIND NALAMCE
MON-GAAP OASIS - K=n AND ACTUAL
ALL SPECIAL REVENUE FINDS
Year Ended June 30, 1986
(Page 1 of 2)
Cammivnity OeveloPent Varlance Other Shared
01ock grant --l—War— lUFavorable Revew W irMb Variance
nlavoreblel le
cue Unfavorable
1 671,612
1 612,1191
(59,557)
32
72
61
63
�)—
%24 1111
�
rm
24 oil
IjKE
566566.77,13
$30$30.411,4
6 75,919
r1
2% 275
r1
715 112
20 63
EjEk
1 6,621
1 30,919
1 12,715
1 6,621 1 30,919 1 22175
SS 0793 SS 019)
I. -MMM, !...(712130)
{ 1,655,]M { 1,616,769 { 162,961
`�'_' 6>✓` .'-^yam. 6+
11,661 155,769
(123.0651
122 0011 70 915 5g)
1 1,506,506 1 2,261,319 0 760,011
11,846,629) 161) 510) 199.119
1 (318,125) 1 619,6M 1959,991
(304,6161 f)04.616)
I..16/1,l!!I I.. MAH
REVENUE
I nlergovenrental
Charges for services
use of money and property
Miscellaneous
Total revenue
EXPENDITURES
Hoes and cae¢unlq envlrona,vnl
policy and adolnlstratlon
Capital Dalley
Total expenditures
Ravenw over expendllures
OTHER FINANCING (USES)
Operatlnq transfers
(l•) other funds
Revenue Over (adff
exWAILures and olther
flnancinq uses
FUND BALANCE (DEFICIT), BEGINNING
FUND BALANCE (DEFICIT). EWING
CITY OF IOW CITY. IOW
SCHEDULE OF REVENUE. EXPENDITURES
AND CHANGES IN FUND BALANCE
NON -GMP BASIS - BUDGET AM ACTUAL
ALL SPECIAL REVENUE FUNDS
Year Ended June 30, 1986
(Page 2 of 2)
Variance
Urban Davelopeent
Variance
Variance
Federal Nevem, Shari
Favorable
(InhmraDiejsuag
Acllw, Grant
MLUal
Favorable
(NlnfavorMlel
Total
Favorable
VAGet mcu9i(Unfavorable)
Nudges
us
f 572.267
{ S/8,16S
{ (27,902)
6
/
1 _ .
6 1,099,121
1 1,178,153
1 19,526
32
16,000
rrp7p
11,189
L'S79'SS6
15,119
E71
_ - . _
- • • -
- •
21,000
T-1:@aTl7
32
19,516
682 210
28,516
1-79�Df
� T7—=i_
6
f
1
S
f •
/ 566,111
f 510,121
1 15,919
6 )p0
698
1
_ _ _
: •
12,58/
156,167
(127,881)
T—
416c
146 22?
77e3iB
72 049
8851
1 587,567
1 578,856
1 (8,711)
f
- • 1 • -
{ -
1 2,102,695
5 2,177.181
1 771,188
1702,7251
(628.8581
211.867-
2U ,5/9,1511
12,016,1681
172,986
S (115,158)
1 119,991
! 2651156.
{
- - { • -
{. „ ;,;
f (116,6591
6 800.115
1 1127111/
271.100
271.100
185,295)
(85.295)
{ 1598::2
f 1211791
f
- . 1 • ;
f. 5::195/)
1...::51520
s
F
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CITY OF IOWA CITY, IOWA
CAPITAL PROJECTS FUNDS
The Capital Projects Funds are utilized to account for all resources used in
the acquisition and construction of capital facilities and other major fixed
assets, with the exception of those that are financed by special assessments
or by enterprise fund monies. The funds in this category are as follows:
Bridge, Street and Traffic Control Construction Fund - accounts for the
construction or replacement of infrastructure fixed assets such as streets,
bridges, dams, sidewalks, lighting systems, and storm sewers.
Human Development Construction Fund - accounts for the construction of
Parks and recreation facilities and other lesiure time improvements.
Other Construction Fund - accounts for the construction or replacement of
other City general fixed assets such as administrative buildings with
various funding sources including general obligation bonds, intergovernmen-
tal revenues, and contributions.
-63-
CITY OF IOWA CITY, IOWA
COMBINING BALANCE SHEET
ALL CAPITAL PROJECTS FUNDS
-64- oo P
June 30,
1986
Bridge
Street and
Traffic
Human
Control
Development
Other
ASSETS
Construction
Construction
Construction
Total
Investments
$ 185
; - -
$ 655,372
$ 655,557
Receivables, interest
6
130
136
Due from other funds
- -
- -
1,139,613
1,139,613
V
Due from other governments
119,678
- -
520
120,198
Total assets
$ 119,869
=a===as====
$ - -
$1,795,635
f 1,915,504
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LIABILITIES AND MUNICIPAL
EQUITY
—
Liabilities
Accounts payable
$ 6,000
$ - -
$ 9,486
$ 15,486
Contracts payable
128,193
- -
- -
128,193
Accrued liabilities
4,685
- -
- -
4,685
Due to other funds71
85 O
Total liabilities
iN 3--
3-233 Q
378
Municipal equity, fund
balance (deficit);
Reserved for encumbrances
$ 242,346
$ -
$ - -
$ 242,346
j
Designated for future
improvements
- -
1,439,780
1,439,780
^J
Unreserved
(332.765)
-
331,7461
- -
Total municipal equity
f4)
$1.77 .55
Total liabilities
and municipal equity
$ 119,869
$ - -
$1,795,635
$ 1,915,504
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CITY OF IOWA CITY, IOWA
COMBINING STATEMENT OF REVENUE, EXPENDITURES AND
CHANGES IN FUND BALANCES
ALL CAPITAL PROJECTS FUNDS
Year Ended June 30, 1986
REVENUE
Intergovernmental
Use of money and property
Miscellaneous
Total revenue
EXPENDITURES, capital outlay
Revenue (under)
expenditures
OTHER FINANCING SOURCES
Operating transfers
from other funds
Proceeds from general
obligation bonds
Total other financing
sources
Revenue and other
financing sources over
expenditures
FUND BALANCE (DEFICIT),
BEGINNING
FUND BALANCE (DEFICIT),
ENDING
Bridge
Street and
Traffic Human
Control Development Other
Construction Construction Construction Total
S 405,252 $ - - $ 520 $ 405,772
6,619 - - 46,440 53,059
18
,112 1 788 �— 48 S 20,900
3
$ 1,413,940 $ 52,224 $ 126,121 $ 1,592,285
$ (983,757) $ (52,224) $ (77,373) ;(1,113,354)
S 18,468 $
23,145
$ 85,191
; 126,804
2,049,164
29,079
1,759,802
3,838,045
$ 2,067,632 $
52,224
$1,844,993
S 3,964,849
1,083,875 $ - - $1,767,620 $ 2,851,495
(1,174,294) - - 4,925 (1,169,369)
;___90_419) ; - - _-_ f1,772,545 ;_1,682,126
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CITY OF IOWA CITY. IOY11
SCNEMLE OF REVENUE. EXPENDITURES
AD CWMS IM I= BALANCE
ALL CAPITA. PROJECTS FUN DS
Year Ended June 30, 1986
(Page 1 of 2)
FUND BALANCE (DEFICIT). BEGINNING
FUND BALANCE (DEFICIT). ENDING
(continued)
(978,126 ) _970126)
Bridge, Street and Traffic
Variance
Favorable
Hwn
Mr nt Constmc1"i
Variance
Favorable
Control Constructlon
ua
(unfavorable)
Ma Oe
(unfavorable)
OuGOe
REVENUE
Intergovernnental
! 2,356,010
{ 297,213
1(2,058,797)-
(6]6,625)
-
Charges for services
631,111
6,625
- -
- -
-
Use of money and property
Nlscellanews
38 000
18 1320
19 680
-
—
' "
T—
T-----
Total revenue
T-3-a�
F 2.066.510
1 1.193.971
t 1,372.569
! 51,716
{ 52.221
! (178)
EXPENDITURES, capital outlay
Revenue over (under)
S 158,9111
l 171 783)
H1,330,721)
! (51,716)
f (52,221)
t (178)
espeMltures--a--
OTHER FINANCING SOURCES (USES)
!
Operating transfers:3
1,881,011
{ 38,/56
{(/,8/5,555)
f 23,115
3 23,115
From other fulls
(To) other funds
_ _
(19,988)
2 019 161
(19,988)
2 019 161
20 601
29 079
, ,770
Proceeds from general obligation bonds
- -
�.+.,.v:,�
T,.,
c-�-
Total other financing sources (uses)
T rlA�Oli
` °S_
a
Revenue and other financing
sources over
expenditures and other
! 5,012,952
1 895,019
t(Ia111a103)
- -
...........
financing uses
FUND BALANCE (DEFICIT). BEGINNING
FUND BALANCE (DEFICIT). ENDING
(continued)
(978,126 ) _970126)
CITY OF IONA CITY, IOW
SCNEUME OF REVENUE. EXPENDITURES
AND CHARGES IN FUND BALANCE
NON -GAAP BASIS - BUDGET AO ACTUAL
ALL CAPITAL PROJECTS FUNDS
Year Ended June 30. 1986
(Page 2 of 2)
Variance
Total Favorable
Budget Actual (Unfavorable)
$ 2,381,010 6 297,213 {(2,083,797)
631,111 - - (631,111)
63,179 63,179
38 000 20 108 117.892)
i -S bio 761 T—I316 TTmum1
1 3,082,611 S 1,662,696 1 1,119,718
1 (32,133) {(1,282,366) 111,250,233)
1 5,058,521 t 116,792 $11,911,729)
(19,988) (19,968)
28 601 T3�1 Tif3 851 640 823 041
77`911:161 31
1 5,051,989 1 2,696,086 1(213581903)
1976,393) (976,393)
U&08/6H 111719/69/
Variance
Other Construction
Favorable
qeActual—(Unfavorable]
REVENUE
Intergovernmental
{ 25,000
1 - -
f (25,000(
Charges for services
- '
Use of money and properly
56,551
56,551
Miscellaneous
- -
1 788
1 las
Total revenue
T�5:6f1d
T-38717
1-77;711
EXPENDITURES, capital outlayIf
61,328
6 116,701
S 17,627
Revenue over (under)
expenditures
{ 1139,328)
S 158,359)
f 80,969
DINER FINANCING SOURCES (USES)
Operat Ing transfers:
Fromm other funds
1 151,365
1 85,191
1 (66,171)
(To) other funds
Proceeds frau general obligation bonds1,05
11 7� 73 405
Total other financing sources (uses)$
1:1071231
Revenue and other financing
sources over
expenditures and other
financing uses
1 12,037
S 1,800,237
f�117881200
FUND BALANCE (DEFICIT), BEGINNING
1,733
1,733
FUND BALANCE (DEFICIT), ENDING
( 131770
LMH/970
Variance
Total Favorable
Budget Actual (Unfavorable)
$ 2,381,010 6 297,213 {(2,083,797)
631,111 - - (631,111)
63,179 63,179
38 000 20 108 117.892)
i -S bio 761 T—I316 TTmum1
1 3,082,611 S 1,662,696 1 1,119,718
1 (32,133) {(1,282,366) 111,250,233)
1 5,058,521 t 116,792 $11,911,729)
(19,988) (19,968)
28 601 T3�1 Tif3 851 640 823 041
77`911:161 31
1 5,051,989 1 2,696,086 1(213581903)
1976,393) (976,393)
U&08/6H 111719/69/
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CITY OF IOWA CITY, IOWA
ENTERPRISE FUNDS
The Enterprise Funds are utilized to account for operations and activities
that are financed and operated in a manner similar to a private business
enterprise, and where the costs of providing goods or services to the general
public on a continuing basis is expected to be financed or recovered
primarily through user charges, or where the City has decided that periodic
determination of revenues earned, expenses incurred, and/or net income is
appropriate for capital maintenance, public policy, management control,
accountability, or other purposes. The funds in this category are as
follows:
Parking Fund - accounts for the operation and maintenance of all the City's
on and off street public parking facilities.
Pollution Control Fund - accounts for the operations and maintenance of the
City's water pollution control facility and sanitary sewer system.
Water Fund - accounts for the operation and maintenance of the City's water
system.
Sanitation Fund - accounts for the operations and maintenance of the City's
solid waste collection system and landfill.
Airport Fund - accounts for the operation and maintenance of the City's
airport.facility.
Housing Authority Fund - accounts for the operations and activities of the
City's low and moderate income housing assistance and public housing
programs.
Mass Transportation Fund - accounts for the operation and maintenance of
the City's public transportation system.
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ASSETS
Cash
Investments
Iuelvables:
Accounts and uMl l led Wage
Interest
We from other funds
I- from other gortrnmenls
Inventories
Send ISSNAae costs
Property and equipment:
Land
8ulldings and structures
tyroveaents other than buildings
Equipment and vehicles
Accomalaled deforestation
Construction In progress
Total assets
LIABILITIES AND MUNICIPAL EQUITY
Liabilities:
Sues of outttandln0 checks over bank Glance
Accrued liabilities
Ow to other (wads
Oue to other 94eirenls
Deferred revenue
Interest payable
Muss1[10.1 adults:
Coalrlbuted capital -
Retained earnings (deficit);
band ordinance reserves
Unreserved
Total municipal equity
Total liabilities and municipal equity
CITY OF IOW CITY
COIRIININB BALANCE SHEET
ALL EIIERPRISE FWDS
June 30, 1986
Pollution Housing Mass
Parking Control Yater Sanitation Airport Authority Transportation total
IT Sao 5 .. 1 • - .1 450 { • - IT . - I 1,257 1 2,207
I'M.)]? 1,7]6,1]2 256,063 195,178 100,917 711,101 102,771 4,421,959
11,196 189,/25 257,012 1",631 - - 221 10,218 675,757
24,011 46,199 2.172 6,618 2,n7 • - 1,279 87,816
• - 16,14 • - 2,6% • - - - 11,590 71,070
• - 67 4.161 • - • - 197,905 119.592 121,125
• - 157,115 • - • - • - . - 157,145
21.1% .. . _ .. _ .. .. 31.796
I,SS8,189 19,297 76,567 160,190 254,612 S4,050 1,750 2,624.251
1,116,03 2,771,176 1,919,74 41,181 SSI.»2 2,654,222 2,401.252 19,724,0%
5,071 1/,922,154 /,557.711 19,160 576,964 10,981 215,510 20,119,775
)2,102 88,191 176.294 8,911 31,192 78.511 2,151,109 2,826,110
(1,155.172) (5,491.767) 67,365.8771 (17,110) (18S,"8) 1787,141. (1,016,201)
1.144.15S 1.422,917 156.115 229.152 11.41 6.195,116
1/01461292 {1811281001 I1199611H {110421956 { 9241228 {711171 �0� {1812412/ {dl 775 766
..... ...t...l...
IT • - t • • / Mile 1 { - 1 17,802 1 IT 26,956
17,840 74,2" %,618 26,127 1,921 • • 12,571 189,621
71,111 18,225 - - 15.04 16.011 101,827 224,154
",161 %,186 73,124 59,059 7,110 26,689 112,182 476,111
191,611 3,151 1,156.11623,2» 1,457 619 56,624 1,411,6%
• - 5,911 • - • - 16,41 111,401 111,/8S
117,950 • - 111,950
2S9,101 22,612 2.111 • _ • - 190,010 174,101
156.691 • - - - 12,9115 6,0169656
77,659
S,217,569 600,000 • - • - - - . .
• • 3.004,116 1.004,194
2e''''��•�{�a,e �..�1 130 118200a0�00r - • - 1 970 1910 1118
Z..:J��1._-ay ,S� L•�L r�� LCL �• R e1e1216.122
1 47,106 111,042,618 tl,»4,566 1 145,264 81,155,690 1 245,612 11,565,514 121,191,010
183,926 1,099,6121,881,598
3�96S 4" 107 261` 7W 169 21 SMIX?) 711 594) 6 99 7,415 616
{10 616 292 IB lib 601
n,1151!111 ll 012 956 f 921 tt8 1111171707 111/4121/ 11 1//51766
-1
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CITY OF IOWA CITY
COMBINING STATEMENT OF REVENUE, EXPENSES
AID CHANGES IN RETAINED EARNINGS
ALL ENTERPRISE FINDS
Year Ended June 30, 1986
Pollutlon
Housing
Mess
Parkin
Control
Yater
Sanitation
- Airport
Authority
Transportation
Total
REVENUE:
Charges for servlcaS and use of property
Mlscellanmus
11,610,150
51,521,581
11,616,622
{1,266,070
{ 61,162
1 421,760
1 610,978
1 1,342,886
Total revenue
110
71 669
114
20 861
1 915
65
S1 286
EXPENSES:
Personal services
Commodities
S 576,792
{ 188,905
1 685,796
S 177,655
5 61,967
S 162,558
1 1,102,959
5 ],196,6]2
Services AND charges
31,751
i52
50,501
42S WE
706,406
/
26,756
1.p9
27,706
97 630
11,767
21,236 .
681,199
ers
T `QI
,686
79./6
fTotal
li
]ile6�
Operating Income (loss) before depreciation
S 762,181
1 556,5Z6
{ 7,181
1 (52,960)
i 192,031)
{ 172,560
111,211,969)
S 82,OB3
Depredation
Operating Income (loss)
252 272
a mio289
761 998
V-5ri26
179 219
S-(T72oi
4 749
T
24 951
T'T116 ml
111 913
262 059
1 198 561
151sim)
w web67
TT7,moom)
T(T;T16;176)
MONOPENIITING INCOME (EXPENSES);
Operating grants
-
..
- .
..
..
• -
329,700
- 729,100
Interest Income
9],1]1
271,001
85,210
32,951
10,869
19.011
1,690
522,611
Interest expense
106 517)
(142 ,8021
(39,3421
(191,926)
1780.617)
Income (loss) before operating transfers
-
and extraordinary Ian
5 196,191
5 727,527
{ (126,168)
{ 116,7561
1 (106,120)
1 (112,262)
1(1.201,138)
1(1,016,120)
OPERATING TRANSFERS IN (811), NET
1516,694)
(115,984)
87.Ife
w a
1.227.111
601.961
Ancor (loss) before extraordinary Its
1 (319,497)
$ 201,617
1 (126,160)
1 (18,156)
1 (18,692)
1 (112,262)
1 25,613
1 (362,159)
EXTRAORDINARY ITEM, gain on early extingul%Menl of debt
999.515
- -
- •
- •
999.515
Net Income floss)
1 619,618
$ 207,613
1 1126,1681
{ (19,156)
1 (18.692)
S (112,262)
1 25,673
{ 6]6,156
Depreciation on ass els Acgulred by contributed capital
that reduces contributed capital
-
- •
- •
• -
- -
- -
100,015
100,015
RETAINED EARNINGS (DEFICIT), BEGINNING
u restated
1.0]5,29]
1.]16.]16
2.122,116
'791.725
279y 9151
�
(102,3331
_
]16.]81
8.622,617
RFIAINED EARNINGS (DEFICIT), ENDING
HA111411
111:851979
(:.1951618
1.I/7I969
I Ii58a62/)
1 12111595)
S , 4621099
{ 911592/1/
CITY OF 101dA CITY
CONd1NING STATFIENf OF CHANGES IN FINANCIAL POSITION
ALL ENTERPRISE FUNDS
Year Ended June 30, 1986
FIMKIAL NESOIIICES PROTIEO IT
Operatlat:
IKa (Ams) befall entrenrdlmary Items
Atm which did not (preside), or re"Irt
Willy of, cast W Investments:
psOroclatlM
(nlcrnte) trtacncane"dIm:
filr44t rmcelrable
bwa from
other fao,K
d,etother 0ervnmeatf
"
Increase pansy In:
Accounts
payableand accruedaccruedexpenses
O tetherble
Out le foods
Ore to altar nunreaao,ll
Interna parable
Interact
able
Financial res
p
urret provided e2 (used
In)
apafatlKron extraordinaryflee
Eblray Ita, pan a early extlnpulsM
nt
of debt
Total fl lal resources provided by (tied
In)
carttosez
Other scarcest
Contracts payable
001 to other funds
eme fra other loves
Ow ha other governments
Contributed fro
auto]bonds
PIKMa /fan tale Of loorc
Total flnenclal nttwrus provided
FIMNCIAL RESOURCES APPLIED TO
Purchase of property and equlpmnt
land Issuance colts
Contracts payable
Due to other funds
Payment of bows. ata nates
Total financial rsscurces applied
Nel Inerebse (derreatr) In cash and
Inrestanla, as bele
SUMART Of NET CNANGIS IN CAL) AM IN9IS1rINIS
Increase (decrease) 14:
Cath
Investments
Net Increase (derrmtel In task and Investments
Pollution Rousing Mass
Pari lna Control Watt, Sa44tatlea Airport Authority Transportation Total
6 (319,611) 1 207,613 1 (126,160) 1 (11,156) f (10,692) 1 (112,262) f 25,671 1 (362,759)
82,212 161,911 179,119 1,719 21,951 111,913 262,659 1,198,%t
19,9111 01,017 73,132 (3/,SMI (1,727) 1,911 (6,261) 106,106
•- 16,192 1 (1,131 •• .. (5,"1) 6,726
• • (67) (1,161) • - • - (S,111) 1119,592) 1129,231)
(19,2361 _ . _ _ . _ (19,236)
110,629) 16,625 /7,605 13,269 (195) (144) (710) 35,611
1,601 511 27,90S (62) ITo 9,190) (12."1) (61,016)
5,967 _ : _ 9,91/)13,921)
_ 1142
91,0011111,912118,:1:1 (05.221 1116,0/6
1 (19,116) 1 661,397 f 176,919 f (37,152) f 1,511 1 91,729 S 73,129 1 960,165
999,515 - • - - • - • - - • • - 999.515
1 911,011 i 661,397 8 176,119 6 (37,162) 6 /,511 1 93,129 1 73,129 1 1,959,680
I1,13) - - - IS."" 16,011 - • 22,106 111,108
271,176• - - - - - - - 211,176
151,111 117,916 - /01,19 - - - • - - I,210,632
• - • 29,969 29,969
31,M6 • - - - 3,032 - - 31,918
110,252 57,175 • - 219,201 3,631 25,019 13S,5/5
1 so) Soo 200 600 �-{9y-r2[ �•-;rp-asp y 50 fall 2 281 331
11,267,213 11,101,781 1 373,661 1 IS,108 1 213,690 1 25,730 1 17,625 1 3,081,86a
11,791 • • • - - • - 21,198
97,012 117,SB6 • - • • - - 211,658
10,000 156,551 • • 515,550 • - 692,101
1 Its 911 166 330 B46 000 Is 9.0.1 z Ile 1
46
:. 59:2::5 f (5762112) 1.1:961661) f.j63A61/1...13169111
597.215 (516 ,147) _1596,661 ) 161.817 26,170 1,017 102,660 _111.979)
1..5916215 4.15266117) 1.151666611 1.•1611671 1...761111 1.....11117 1..102165.1 {...11119111
J
CITY OF IOWA CITY, IOWA
INTERNAL SERVICE FUNDS
The Internal Service Funds are utilized to account for goods and services
provided by one department to other City departments on a cost reimbursement
basis. The funds in this category are:
Equipment Naintenance Fund - accounts for the provision of maintenance for
City vehicles and equipment, and vehicle rental to other City departments
from a central vehicle pool.
Central Services Fund - accounts for the printing services and office
supplies inventory provided to other City departments.
-73-
0700 F(
i
J
I
.J
IJ
J
CITY OF IOWA CITY, IOWA
INTERNAL SERVICE FUNDS
The Internal Service Funds are utilized to account for goods and services
provided by one department to other City departments on a cost reimbursement
basis. The funds in this category are:
Equipment Naintenance Fund - accounts for the provision of maintenance for
City vehicles and equipment, and vehicle rental to other City departments
from a central vehicle pool.
Central Services Fund - accounts for the printing services and office
supplies inventory provided to other City departments.
-73-
0700 F(
CITY OF IOW CITY, IOW
COMBINING BALANCE SHEET
ALL INTERNAL SERVICE FUNDS
June 30, 1986
ASSETS
Investments
Receivables:
Accounts
Accrued interest
Due from other funds
Inventories
Property and equipment:
Land
Building and structures
Improvements other than buildings
Equipment and vehicles
Accumulated depreciation
Total assets
LIABILITIES AND MUNICIPAL EQUITY
Liabilities:
Accounts payable
Accrued liabilities
Due to other funds
Total liabilities
Municipal equity:
Contributed capital
Retained earnings
Total municipal equity
Total liabilities and municipal
equity
-74-
Equipment
Central
Maintenance
Services
Total
$ 501,799
$ 56,228
$ 558,027
6,040
- -
6,040
11,149
3,033
14,182
146,665
6,446
153,111
425,690
26,504
452,194
45,462
- - _
45,462
563,355
- -
563,355
41,365
- -
41,365
2,543,472
138,212
2,681,684
(1,386,935)
18 758)
(1,405,693)
$2}898x062
;s=211x685
f��109_127
S 47,445 $ 9,188 $ 56,633
69,848 - - 69,848
37 750 787
3ZI7',33D 3�� 3�T2SS
$1,215,320 $ 5,822 $1,221,142
1'52 195 3 761 317
$2,898,062 $ 211,665 $3,109,727
A
CITY OF IOWA CITY, IOYA
COMBINING STATEMENT OF REVENUE, EXPENSES
AND CHANGES IN RETAINED EARNINGS
ALL INTERNAL SERVICE FUNDS
Year Ended June 30, 1986
REVENUE:
Charges for services and use of property
Miscellaneous
Total revenue
EXPENSES:
Personal services
Commodities
Services and charges
Total expenses
Operating income before
depreciation
Depreciation
Operating income
NONOPERATING INCOME:
Gain on disposal of fixed assets
Interest income
Net income
RETAINED EARNINGS, BEGINNING
RETAINED EARNINGS, ENDING
75-
Equipment Central
Maintenance Services Total
$1,912,528 ; 63,998 $1,976,526
7 668 26 641 34 309
31�7TO;`I9b 3�;Ti39' TT;0I0:835
$ 502,088 $ - - $ 502,088
626,863 33,473 660,336
126 255 18 444 144 699
TFJ
$ 664,990 $ 38,722 f 703,712
314,999 12,476 327,475
$ 349,991 $ 26,246 $ 376,237
5,564 5,564
45,875 9,702 55,577
401,430 $ 35,948 $ 437,378
1.163.982 159.957 1.323.939
$I 565 412 S 1951905 5117611317
Avor
CITY OF IOWA CITY. IOWA
COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION
ALL INTERNAL SERVICE FUNDS
Year Ended June 30, 1986
FINANCIAL RESOURCES PROVIDED BY
Operations:
Net income
Items which did not (provide),
or require outlay of, cash
and investments:
Depreciation
(Gain) on disposal of fixed
assets
(Increase) decrease in:
Accounts and accrued interest
receivable
Due from other funds
Inventories
Increase (decrease) in:
Accounts. payable and accrued
expenses
Due to other funds
Total financial resources
provided by operations
Other sources:
Due from other funds
Total financial resources provided
FINANCIAL RESOURCES APPLIED TO
Accounts payable
Purchase of property and equipment
Total financial resources applied
Net increase (decrease) in cash
and investments
SUMMARY OF NET CHANGES IN CASH AND
INVESTMENTS
Increase (decrease) in investments
-76-
Equipment Central
Maintenance Services Total
$ 401,430 $ 35,948 $ 437,378
314,999
12,476
327,475
(5,564)
-
(5,564)
(2,323)
(2,477)
(4,800)
(5,980)
1,611
(4,369)
(6,169)
(2,792)
(8,961)
18,894 4,141 23,035
86) 750 664
S 715,201 $ 49,657 S 764,858
392 296 - - 392 296
L1 -4W—
S 227,214 $ - - $ 227,214
383 484 79 854 �S11S�S3S T-79;�5d 463 338
S 496,799 $ (30,197) $ 466,602
$ 496,799 $ (30,197) $ 466,602
Root
i —
CITY OF IOWA CITY, IOWA
FIDUCIARY FUNDS
—
TRUST AND AGENCY FUNDS
The Trust and Agency Funds are used to account for assets held by the City in
-j
a trustee or custodial capacity for the City's two pension and retirement
funds and for other entities, such as individuals, private organizations, or
.CJI
other governmental units. These fund types are categorized as follows:
Pension Trust Funds
The City maintains two pension trust funds for City employees as
follows:
_
Fire Pension and Retirement Trust Fund
Police Pension and Retirement Trust Fund
Expendable Trust Funds
Employee Benefits Trust Fund - accounts for the employee benefits related
J
to those City employees who are paid through the governmental fund types,
which are funded by a property tax levy.
Johnson County Council of Governments Trust Fund - accounts for the
financial activities of the metropolitan/rural cooperative planning
organization.
Water Revenue Bonds Funding Trust Fund - accounts for the investments
placed in a self administered trust, which, along with the earnings
�1
thereon, are expected to pay the outstanding water revenue bonds and the
J
related interest as they mature.
Non -expendable Trust Fund
Perpetual Care Trust Fund - accounts for the proceeds received from
Cemetery deeds sold through May, 1973. The investment proceeds from this
fund are transferred to the General Fund each year to be applied against
cemetery operating expenditures.
Agency Funds
The City acts as custodian for the following agency funds:
Project Green
Mayor's Youth Employment Program
—
Eldercraft Shop
Library Foundation
I
Employee Deferred Compensation
-77-
0?60 P
CITY OF IOW CITY,
IOYA
COMBINING BALANCE SHEET
ALL TRUST AND AGENCY
FUNDS
June 30, 1986
j
Expendable
Non -
ASSETS
Pension Trust
Trust Funds Funds
expendable
Trust Fund
Agency
Funds
Total
Investments
Receivables:
$10,599,136 $ 832,648
i 79,792
$787,526
$12,299,102
Property taxes
Accounts
- - 484,107
- -
484,107
w
Interest
Due from other funds
-4-88,500
397,742 2,703
2,220
3.756
88,500
406,421
�1
Due from other governments
- - 59,110
- - 5 248
-
- -
3 673
8 921 59,110
�•�
Total assets
�a
��
�/y�!733
j
.
a.a;.+a�
I.
LIABILITIES AND MUNICIPAL
EQUITY
Liabilities:
W
Accounts payable
Accrued.liabilities
$ 37,978 $ 503
$ - -
$ 11.240
$ 49,721
`J
Due to other funds
- - 3,433
- - 365
- -
1,577
6,619
74
10,052
2,016
j
Due to agency
Deferred revenue
- - - -
- - 467,916
- -
- -
169,347
169,347
Interest payable
- - 6 004
_ _
" "
- -
467,916
6,004
Deferred compensation
payable
Revenue bonds payable
- - 706 000
- -
607,675
607,675
J
I
Total liabilitiesg7i�
T
- -
X1:577
374b�J55
706 000
}�g;7�
Municipal equity:
i
Fund balances,
reserved for:
Employee retirement
commitments
Johnson County Council
$10,958,900 $ 242,275
$ - -
S - -
$11,201,175
of Governments
Perpetual care
_
- _ 45,820
- -
_ .
Total fund balance
fI6,"15�,5Da 3-'f8B;695
83 66Jd35
? -
80 �
'
Total liabilities
j
and municipal
equity
$10 996,878 $1,472,316
aaaivaaaaaa
$ 82,012
$794,955
$13,346,161
`�
va:aaaaaaa
aavaaaaa
aaaavaav
saaaaaaaasa
i
J 'I
t
_
P.:�
-78-
t�0�0
CITY OF IOWA CITY, IOWA
COMBINING BALANCE SHEET
ALL PENSION TRUST FUNDS
June 30, 1986
i
_i
Police Pension
I.J
8 Retirement
8 Retirement
ASSETS
Trust
Trust
Total
Investments
$5,585,135
$5,014,001
$10,599,136
i
210,803
186,939
397,742
+
15,795,938
;1
$10_996_878
J
CITY OF IOWA CITY, IOWA
COMBINING BALANCE SHEET
ALL PENSION TRUST FUNDS
June 30, 1986
LIABILITIES.AND MUNICIPAL
EQUITY
Liabilities, accounts payable
Municipal equity, fund balance
reserved for employee
retirement commitments
Total liabilities and
municipal equity
$ 23,298
$5,772,640
$5=795_938
-79-
$ 14,680 $ 37,978
$5,186,260 $10,958,900
$5,200,940 $10,996,878
�oo�
Fire Pension
Police Pension
8 Retirement
8 Retirement
ASSETS
Trust
Trust
Total
Investments
$5,585,135
$5,014,001
$10,599,136
Receivables, interest
210,803
186,939
397,742
Total assets
15,795,938
l5, 2001940
$10_996_878
LIABILITIES.AND MUNICIPAL
EQUITY
Liabilities, accounts payable
Municipal equity, fund balance
reserved for employee
retirement commitments
Total liabilities and
municipal equity
$ 23,298
$5,772,640
$5=795_938
-79-
$ 14,680 $ 37,978
$5,186,260 $10,958,900
$5,200,940 $10,996,878
�oo�
CIT! OF IOW CITY, IOW
COMBINAM IANCEXPENSES
S N FUND B ES
ALL PENSION TRUST FUNDS
Year Ended June 30, 1986
REVENUE:
State contribution
City contribution
Member contribution
Interest income
Total revenue
EXPENSES:
Pension benefits
Disability benefits
Death benefits
Total expenses
Net income
FUND BALANCE, BEGINNING
FUND BALANCE, ENDING
i
Fire Pension Police Pension
& Retirement 8 Retirement Total
otal
f 46,785 $ 40,186 $ 86,971
381,251 253,604 634,855
37,939 44,454 82,393
533 262 476 046 11 0} i 09 308
r*em - j 1.61S,D
f 138,197 f 84,961 $ 223,158
70,328 56,563 126,891
45,037 27,859 72,896
f 253,562 f 169,383 f 422,945
f 745,675 f 644,907 $ 1,390,582
5.026,965 4,541,353 9,568,318
f5 172 640 f511861260 £1019581900
Aloof
CITY OF IOWA CITY, IOWA
COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION
ALL PENSION TRUST FUNDS
Year Ended June 30, 1986
FINANCIAL RESOURCES PROVIDED BY
Operations:
Net income
Items which did not (provide),
or require outlay of, cash
and investments:
(Increase) in,
Accrued interest receivable
Increase in,
Accounts payable
Net increase in cash and
investments, as below
SUMMARY OF NET CHANGES IN CASH AND
INVESTMENTS,
Increase in investments
Fire Police
Pension and Pension and
Retirement Retirement Total
$ 745,675 $ 644,907 $1,390,582
(67,334) (57,498) (124,832)
3,200 2,137 5,337
$__681,541 -$__589,546 $1,271,087
$-_6811541 $__5892546 $12211=087
-81-
o2 OOi�
I
CITY OF IOWA CITY, IOWA
COMBINING BALANCE SHEET
ALL EXPENDABLE TRUST FUNDS
June 30, 1986
ASSETS
Investments
Receivables:
Property taxes
Accounts
Interest
Due from other funds
Due from other governments
Total assets
LIABILITIES AND MUNICIPAL
EQUITY
Liabilities:
Accounts payable
Accrued liabilities
Due to other funds
Deferred revenue
Interest payable
Revenue bonds payable
Total liabilities
Municipal equity, fund balance,
reserved for:
Employee retirement
commitments
Johnson County Council of
Governments
Total fund balance
Total liabilities and
municipal equity
Employee Johnson County Water Revenue
Benefits Council of Bonds Funding
Trust Governments Trust Trust Total
$135,147 $44,607 $652,894 $ 832,648
484,107 - - - - 484,107
88,234 266 - - 88,500
2,703 - - - - 2,703
_ 59,110 59,110
- 5,248 - - 5,248
$7103191 $503121 5712004 $134723316
$ - S 503 S - - $ 503
- - 3,433 - - 3,433
365 - - 365
467,916 - - - - 467,916
6,004 6,00.4
70 706 000
i3A7Z1T6 ?.301 2/12,004
$242,275 $ - - $ - - $ 242,275
- - 45,820 - - 45,820
5242,275 $45,820 f - - S 288,095
57101191 5501121
$7123004 513472,316
-82- tQ oo •
-J
CITY OF IOWA CITY, IOWA
COMBINING
STATEMENT OF
REVENUE, EXPENDITURES AND
ONUS IN
FUND BALANCES
ALL EXPENDABLE TRUST FUNDS
_
June 30, 1986
I
Employee
Johnson County
Water Revenue
Benefits
Council of
Governments Trust
Bonds Funding
Trust
Total
Trust
REVENUE
Property taxes
$660,891
$ -
$ - -
$660,891
Intergovernmental
-
89,401
337
-
-
89,401
88,511
Charges for services
Use of money and property
88,234
13,947
-
- -
13,947
Miscellaneous revenue
- -
6
336
f�J�,O'%a
_ _
f
336
$853,146
Total revenue
,0
EXPENDITURES
Community protection
$666,026
f
- _
i
;666,026
Hone and community environment -
148,468
- -
148,468
56 000
Policy and administration
58,000
-
_
E
$87$87—Z.
Total expenditures
$724,026
$148,468
-
Revenue over (under)
expenditures
f 39,046
$(58,394)
$ -
$(19,348)
OTHER FINANCING SOURCES
Operating transfers from
other funds
-
23,627
23,627
i
Revenue and other financing
sources over (under)
expenditures
$ 39,046
$(34,767)
$ -
E 4 279
]
FUND BALANCES, BEGINNING
203,229
80,587
$ -
283,816
i
FUND BALANCES, ENDING
�242i215
E�45t820
S_____;__
$288,095
I i
�J
i
i
11est ireon
arts
Ineetl.enls
A
141111611106. Interest
Due free other foodsTo41 ssets
Liabilities
Accounts payable
DUMP to Other funds
We togen
liabilities
Na orgy's youth
sS.A tf
lnvestmnls
Receivables, Interest
Out Iron other 9onreMts
Tote] .nets
Liabilities
Accounts parable
Accrued liabilities
Due to other funds
Due toagency
lobi Ilabllflles
Library foundation
Kis -its
tnresteents
Receivables, fnterul
Out frw, other funds
Total assets
Liabilities
Accounts P4Is
Accrued Ilay 11 ltles
Due 10 other funds
Due to .Dent'
Total labllitles
CITY OF IOWA CITY. IOWA
COMINING STATEPW OF CHANGES
IN ASSETS AND LIABILITIES
ALL AGENCY RINDS
Fiscal Year Ended June 30, 1986
6elme, Galante
Awe 70, AM Additions Wallis, JuM 70, 1966
1 76,173 1 SIMI 1 11,910 6 91,016
201 6.3% 1,629 %/
t-�� �• •. T 201 �-I�. .
2.:.1 i.::li : i„W.6:.�. l.;:l.E
1 5,119 1 $1,271 { 4,116 1 10,231
• - 2,171 2,111 -
]T7rl� 5511,2 17129 11171
1 6,ala 1 95,909 1 96,679 { 1,066
60 1.142 1,091 129
�_-.219/17 77 9N 77 201 1 617
1..:1;;5 ::INH iT7i617a I TOM
1 2.235 1 12,970 1 1/, 74 1 779
5,9% 26,052 77,915 6,121
Lie 650 751 17
.1 612 X61 729 ,..61 11,94/ aw
1-71M
{ 65,111 6111.49 { 62,210 (119,995
102 9.1s1 7,200 2,545
291 - • 291 • -
LEE HEM OM TUNT
1 les 616,14 230 616,101 1
/92
22 5,609 5,617 )/
65 S97 111 156 56 162 121 761
Map 1711'707 ITTSa110 1772'570
"Noyes es
Deferred Cototatfon
Investments
n t
restTwb
Total assets 1
Liabilities
Deferred coaptnsAllon payable 197 III
Total llaIII Ides !
Total
us-ITs
S21S 106 .11 00,661 /07
675
1675
Invests" is
Receivables. Interest
lelaece
1/29,921
1109,94
Balance
Eldercreft Sh000e
Jute b• t%S
'Additions
Deletions
June 70, 1966
Asftts
2 977
_ _
31 901
54
79 206
_ .
Investesnts
Receivables, Interest
{ 11011
{ 9,951
1 9,10S
1 1,120
Ow free other funds
26
1
5%
/%
125
Total assets
iMT61
- _
a
-
Accounts payable
{ 7,915
TfajSR
i'4,da4
'iT{, 7S
Liabilities
6. is
%,160
90,016
6,619
Attounts payable
{ 516
1 /23
1 917
1
Ow to other funds
..
161
111
169,117
Dara to t
Total llabllltles
TP
7667;077
601
4 842
!.Aslk
....1..,
T`fai67
t...
EM
.M
"Noyes es
Deferred Cototatfon
Investments
n t
restTwb
Total assets 1
Liabilities
Deferred coaptnsAllon payable 197 III
Total llaIII Ides !
Total
us-ITs
S21S 106 .11 00,661 /07
675
1675
Invests" is
Receivables. Interest
1607,570
111
1/29,921
1109,94
1761,526
Out few other funds
546
I5, 919
12,176
),756
Due free Other 9ovarseeets
2 977
_ _
31 901
54
79 206
_ .
lalel assets
�0FM
IMI7M
T1TTa1p{
] 6/3
....1...
....1...
Liabilities
Accounts payable
{ 7,915
1101,011
1 96,509 -
1 11,210
Accrued liabilities
6. is
%,160
90,016
6,619
Out to other funds
Ile
6,651
1,717
7/
Ow to agency
Deferred eoapnwtlon payable
101,719
191 111
210,511
215 101
111,54
100
169,117
Total llabllilles
TP
7667;077
861
p0r;7T7
607J US
TW
.M
STATISTICAL
SECTION
Y
1
e
t
rE r
{L Y4
i
trw
I ! t
Aj
C3
t
1
ip
0
t
e
t � 1
�c
I
1
�a
L
r
s
1
t
IV
I!
STATISTICAL
SECTION
Y
1
e
t
rE r
{L Y4
i
trw
I ! t
w..
'
1
ip
YYYY�
t
F
ed
�c
I
�a
Ir.
r
STATISTICAL
SECTION
t
{L Y4
trw
'
v! '
F
Ir.
1
F.
I!
'l
r�
a
G
Roof ;
I
Notes:
,'Includes General Fund, Debt Service Fund and Special Revenue Funds.
*-Fiscal years 1978-1979 and prior were computedon a cash basis, whereas later years
were computed on a modified accrual basis.
yj
CITY OF IOWA
CITY, IOVA
O
GENERAL GOVERNMENTAL" EXPENDITURES AMD TRANSFERS BY
FUNCTION
Last Ten Fiscal
Years
Other
community
Shared
Federal
Fiscal YearLeisure
General
Police
Fire
Transportation
and
Cultural
Development Revenue
Block Grant and Grants
Revenue
Sharing
Debt
Service
Transfers
Total
1976.7711
1,920,065
1,069,350
751,908
1,529,739
1,638,833
3,174,490
149,922
-
987,356
3,873,687
15,095,350
1977-78'1
2,066,211
1,064,317
894,204
1,808,485
1,101,058
1,227,116
282,816
2,922
1,116,351
2,105,275 .
11,969,085
1978-79.1
2,255,513
1,142,746
911,030
2,347,254
1,329,9D3
950,843
163,987
- .
1,291,755
2,690,922
13,083,953
1979-80
2,753,291
1,495,435
1,215,181
2,362,151
1,502,101
2,121,735
186,510
- •
1,238,846
2,263,960
15,145,210
1980-81
2,737,624
1,753,111
1,287,162
3,208,192
1,845,378
2,818,350
184,374
- .
1,192,642
2,115,270
17,142,463
1981-82
2,473,827
1,863,584
1,508,122
1,764,287
2,094,305
1,143,788
25,478
- •
1,523,672
2,711,145
15,108,808
m
1982-83
2,952,670
1,838,585
1,405,074
1,731,394
2,317,470
1,224,911
139,742
- •
1,595,353
2,786,392
15,991,621
m
1983-84
3,602,827
2,073,938
1,409,738
1,784,711
2,591,485
1,034,117
49,970
443
1,575,052
2,705,233
16,827,1111
1984-85
3,522,935
2,175,223
1,407,355
1,888,675
2,761,521
561,209
62,146
- •
1,785,773
3,249,739
17.414,576
1985-86
4,261,394
2,340,183
1,565,839
1,946,445
3,126,809
802,524
163,533
697
1,934,725
3,061,493
19,203,612
Notes:
,'Includes General Fund, Debt Service Fund and Special Revenue Funds.
*-Fiscal years 1978-1979 and prior were computedon a cash basis, whereas later years
were computed on a modified accrual basis.
yj
CITY OF IOW CITY. IOW
GENERAL GOYERNEIIFAL* REYENOES IUD TRANSFERS BY SOURCE
Last Ten Fiscal Years
Fiscal Year
i
Licenses and
Per�lls
i
Charges far
C.
use of
Money and
rn
!�
CITY OF IOW CITY. IOW
GENERAL GOYERNEIIFAL* REYENOES IUD TRANSFERS BY SOURCE
Last Ten Fiscal Years
Fiscal Year
Tales
Licenses and
Per�lls
Fines and
Forfeitures
Charges far
Intergov-
eromwntal
use of
Money and
Miscellaneous
!�
Services
Revenue
Property
Revanue
Transfers
Total
1916-1971.-
410".457
185,139
289,720
802,162
5,125,511
201,158
1,286,813
2,875,571
15,151,169
1977-19781•
/,618,290
213,301
305,170
769,010
1,633,781
160,019
1,761,711
2,161,860
14,616,178'
1978.1979••
5,159,698
208,112
259,951
1,122,183
3,381,632
151,117
1,117,892
1,937,959
13,339,077 '
1979.1980
6,259.010
238,861
216,222
1,306,610
1,178,383
278,311
512,293
2,122.937
15,112,701
1980-1981
7,151,729
200,159
205,172
1,550,379
5,163,231
2/5,185
799,131
1,901,839
17,123,131 I'
1981-1982
7,725,605
227,113
212,162
970,713
1,095,214
279,156
299,823
1,5191013
11,993,129
1982-1983
8,218.361
311.66S
285,157
1,068,231
1,015,110
220,103
723,259
1,711,88116,680,081
:
1983-1991
8,273,028.
31),605
311.117
1,296,217
3,736,106
212,139
569,205
1,719,899
16,521,716 ,
1981-1985
8,858,968
213,680
328,931
1,319,115
3,662,155
261,097
500,553
2,113,657
17,621,189 f I
1985-1986
9,865,28/
310,311
365,709
1.172.631
1,000,077
258,539
378,011
2,219,003
18,659,681
Nates:.
*Includes General Fund, Debt
Service Fund and Special
Revenue Funds.
"Fiscal years 1978.1979 and
were computed on a modified
prior were c
accrual bas liss�ttd an •
cash basis, wherees later veers
i..
i 'I
CITY OF IOWA CITY, IOWA
PROPERTY TAX LEVIES AND COLLECTIONS
Last Ten Fiscal Years
(cash basis)
Percent
Delinquent
Total as a
Assessment
Collection
Total
Current Tax
of Levy
Tax
Total Tax
Percent of
Date
Year
Tax Levy
Collections
Collected
Collections
Collections
Current Levy
1975
1976-77
4,712,465
4,710,074
99.9
32,080
4,742,154
100.6
1976
1977-78
4,955,262
4,969,801
100.3
44,823
5,014,624
101.2
1977
1978-79
5,676,460
5,607,321
98.8
28,229
5,635,550
99.3
1978
1979-80
6,267,062
6,233,220
99.5
37,693
6,270,913
100.1
1979
1980-81
7,463,393
7,393,546
99.1
48,656
7,442,202
99.7
1980
1981-82
7,802,216
7,782,739
99.8
84,947
7,867,686
100.8
1981
1982-83
8,727,383
8,654,313
99.2
114,446
8,768,759
100.5
1982
1983-84
8,876,784
8,773,320
98.8
98,127
8,871,447
99.9
1983
1984-85
9,505,174
9,342,941
98.3
101,881
9,444,822
99.4
1984
1985-86
10,480,248
10,288,375
98.2
132,517
10,420,892
99.4
I
CITY OF IOW CITY, IOW
ASSESSED AND ESTIMATED ACTUAL VALUE OF TTAXANLE PROPERTY
AND NON-TAXW PROPS 11)
Last Ten Fiscal Years
Neal Property Personal property Total
Assessed Value/ AfusfM Values Assessed Value/
Non -Taxable
Estimated Estimated
Affesfe,est Collection EstimatedEstimated
Actual Value Value Actual Value Monies Md Credits"
property value .,..
Year Year
1976.19 9 04.796,194 (31,666,916 $ 464,467,00 $26,166
u3,76e,lsz
1977
1979.10 512,10!,267 31,127,990 543,937,257 491 26,
36,367,838
1976
1910.61 592,601.447 31,127,903 623,736,350 20,500
38,169,858
j
1979
1911.12 601,232.946 31.127,990 832,3(0.934 21,307
38,643,728 •�
1910
1912.13 05,509.416 31,127,919 916,03.335 26,697.
44,666,610—�
1961
1943-84 929,852.149 31,127,911 960."0,0600.263
16,936,910
1912
1964-05 1,013,521,119 31,127.90 1,121,(55,122 0'1~
16,265,500
190
190.0 1,139,387,371 31,127,851 1,170,515,229 29,177
18,265,500
1994
1915 190-17 1,217,907,20 31,127,932 1,2/9,035,135 28,816
50,931,100
� 913,03011 -
1,239,781,6916 ..•/ 1,239,781,694 26,816
190 1917.0
_
NOTES:
lab Voluis II, Chapter 441, paragraph 441.21 1.a.. *All real and
*As per the Code Ofalue
to xation Itsalued At actual11e
ingibte personal property subject this
�,snip fro herrHe
th Ihalt ll enter Opposite thevalue
-
se
shalt tM assessed en aaed COM ids ad t one IRAN as e s msed Yalu* Md tillable
.-
sot assessed
the property Won which the levy shell be made.•
"In 1971 the state govermaMt began titin)� Banti Md supplying the lasing agencies
f maples and credits
with&
two �icluded fro•iss mod 44tlief actual rax. lwatotal
y
for epinatl�tlultlem
$The utilities value included in this figure is as of 1985, since this value if not
._.
calculated by Me aesessor's office until Oecapr of each year.
y I
OlPreperty was reassessed in 1915, therefore creating a substantial increase in the
ndn•tasable property value.
•$personal Property Tu rf11 M in 190•
Sarco
(1)Ctty of Iowa City Assessor's Office
;
-88-
Y
CITY OF IOYA CITY, IOYI1
PROPERTY TAA RATES - ALL OYERLAPPIN6 f30YERNNENTS(1)
i�
Last Ten Fiscal Years
�.
(per $1,000 assessed valuation)
Iowa City
Ratio of
Collection
School
City of Johnson Area State of
Iowa City
Year
District
Iowa City County School Iowa
Total
to Total
1976-77*
14.927
10.951 4.381 .483 **
30.742
35.6
1977-78
15.140
11.096 4.500 .406
31.142
35.6
1978-79
14.850
12.079 4.997 .416
32.342
37.3
i1979-80
13.456
11.432 5.194 .416
30.498
37.5
1980-81
13.508
12.515 5.290 .407
31.720
39.5
1981-82
13.665
12.241 6.185 .414
32.505
37.7
CIO
Ii
1982-83
13.657
12.640 5.526 .466
32.289
39.1
1983-84
13.367
11.908 5.768 .459
31.502
37.8
1984-85
11.374
10.651 5.164 .444 .015
27.648
38.5 �I
1985-86
11.247
10.885 4.894 .445 .010
27.481
39.6
Notes:
*Changed from mills to
dollar/actual valuation amounts.
**Until 1983-84, the
county levied a tax for testing livestock for brucellosis and
tuberculosis.
Beginning in
1984-85,
this tax is levied by the State of Iowa.
Source:
dd;
S
(1)"Tax Levies
for Johnson
County, Iowa," compiled by the Office of Tom Slockett,
Johnson
County Auditor
O
'
i
i
CITY OF IOW CITY, IOW
SPECIAL ASSESSMENT COLLECTIONS
Last Ten Fiscal Years
Note:
*The current assessment collected includes the amounts collected on the current
assessments, past due assessments and the future installments.
Source:
G)Johnson County Treasurer's Office
-90-
a do if
Current
Current
Ratio of
Total
Fiscal Year
Assessments
Due1l 11
Assessments
Collected*(1)
Collection
to Amount Due
Outstanding
Assessments(l)
1976-77
57,029
132,872
232
223,391
1977-78
40,624
67,146
165
163,978
1978-79
34,071
38,031
112
125,583
1979-80
27,572
39,466
143
92,974
1980-81
64,296
27,947
43
490,380
1981-82
64,086
69,693
108
434,745
1982-83
57,851
90,080
156
346,691
1983-84
48,793
32,701
67
314,915
1984-85
53,015
57,208
107
405,779
1985-86
52,827
83,017
157
731,452
Note:
*The current assessment collected includes the amounts collected on the current
assessments, past due assessments and the future installments.
Source:
G)Johnson County Treasurer's Office
-90-
a do if
p
0
CITY OF IOWA CITY, IOWA
RATIO OF NET GENERAL BONDED DEBT
TO ASSESSED YALUE AND NET BONDED DEBT PER CAPITA
Last Ten Fiscal Years
-1
Source:
(1)City of Iowa City Assessor's Office
O
0
09
Ratio
of Net
Net Bonded
Assessment
Gross
Debt Due
Debt Service
Net
Bonded
Debt to
Debt
Date
Population
Assessed Value(1)
Bonded Debt
and Unpaid
Fund Balance
Bonded Debt
Assessed Value
Per Capita
1977
47,744
466,467,080
3,795,000
- -
4,046
3,790,954
.0081
to 1
79.40
1978
47,744
543,937,257
5,966,000
- -
(86,514)
6,052,514
.0111
to 1
126.77
1979
50,508
623,736,350
12,707,000
- -
32,976
12,674,024
.0203
to 1
250.93
1980
50,508
832,360,934
11,763,000
- -
(153,439)
11,916,439
.0143
to 1
235.93
c 1981
50,508
916,633,335
13,389,000
-
168,791
13,220,209
.0144
to 1
261.74
~ 1982
50,508
960,980,060
12,071,000
1,000
110,133
11,959,867
.0124
to 1
236.79
1983
50,508
1,124,655,722
13,450,000
50,000
583,477
12,816,523
.0114
to 1
253.75
1984
50,508
1,170,515,229
12,150,000
50,000
375,967
11,724,033
.0100
to 1
232.12
1985
50,508
1,249,035,135
10,500,000
- -
325,565
10,174,435
.0081
to 1
201.44
1986
50,508
1,239,781,694
13,625,000
- -
473,948
13,151,052
.0106
to 1
260.38
Source:
(1)City of Iowa City Assessor's Office
O
0
09
ty-
Total assessed valuation $1i239x810I510
Debt limit, 5% of total assessed valuation $61,990,526
Debt applicable to debt limit 13i 837 569
Legal debt margin Td8T54'967
a===l=,
Source:
M Johnson County Auditor's Office
CITY OF IONA CITY. IOW
CONRITATION OF DIRECT AND OVERLAPPING DEBT
June 30, 1986
Total General
i,
Obligation
Debt
% Applicable to this M
Iowa City
Name of Governmental Unit
Outstanding
Governmental Unit
Share of Debt
Per Capita
City of Iowa City
$13,625,000
100.00%
$13,625,000
$269.76
Johnson County 11 7
400,000
58.34%
233,360
4.62
Total
$14,025x000
$13,858,360
$214.38
Per capita assessed value
£24 546.82 i;
COIPUTATION OF LEGAL DEBT NARGIN
�I
June 30, 1986
1�
Total assessed valuation $1i239x810I510
Debt limit, 5% of total assessed valuation $61,990,526
Debt applicable to debt limit 13i 837 569
Legal debt margin Td8T54'967
a===l=,
Source:
M Johnson County Auditor's Office
CITY OF IOWA CITY. IOWA
RATIO OF ANNUAL DEBT SERVICE EXPENDITURES FOR
GENERAL BONDED DEBT TO TOTAL GENERAL* EXPENDITURES
Last Ten Fiscal Years
-93-
Aoep
Ratio
of
Debt
Total
Total General
Service
to
General
Year
Principal
Interest
Debt Service
Expenditures
Expenditures
1976-77
.804,000
183,356
987,356
9,048,699
.109
to
1
1977-78
844,000
272,351
1,116,351
9,200,611
.121
to
1
1978-79
1,009,000
282,755
1,291,755
10,562,990
.122
to
1
1979.80**
723,890
514,956
1,238,846
10,567,006
.117
to
1
1980-81**
698,900
493,742
1,192,642
12,024,469
.099
to
1
1981-82**
1,010,350
513,322
1,523,672
11,228,398
.136
to
1
1982-83**
1,036,713
558,640
1,595,353
11,843,546
.135
to
1
1983-84**
948,799
626,253
1,575,052
13,037,750
.121
to
1
1984-85**
1,203,720
582,053
1,785,773
13,541,482
.132
to
1
1985-86**
1,278,670
656,055
1,934,725
14,963,305
.129
to
1
Notes:
*General
expenditures are those made
out of the
General and Debt
Service Funds.
**Fiscal years
1978-1979
and prior were
computed
on a cash basis,
where as
later
years
were computed on a modified accrual
basis.
-93-
Aoep
CITY OF IOWA CITY, IOWA
SUPWMY OF BONDED INDEBTEDNESS
DEBT SERVICE REWIRElENTS TO MATURITY (INCLDDINB INTEREST)
Year
Special
Ended
General
Capital
Assessment
June 30
Obligation
Leases
Bonds
1987
2,898,825
70,114
54,500
1988.
2,788,325
70,113
56,000
1989
2,700,275
35,839
52,000
1990
2,207,850
35,839
48,000
1991
2,098,750
35,839
44,000
1992
1,987,825
- -
-
1993
974,450
- -
-
1994
913,025
-
1995
550,050
- -
-
1996
512,525
- -
-
1997
- -
1998
- -
1999
- -
" "
-
2000
- -
2001
- -
' '
-
2002
- -
- -
-
2003
- -
2004
--
--
-'
�25_435�0
173631
5247744
' -94-
Revenue
Bonds Total
653,578 3,677,017
726,448 3,640,886
716,403 3,504,517
710,533 3,002,222
733,538 2,912,127
738,820 2,726,645
732.333 1,706 ,783
734,065 1,647 ,090
728,580 1,278,630.
620,768 1,133,293
628,510 628,510
622,990 622,990
619,335 619,335
626,718 626,718
624,740 624,740
618,600 618,600
440,500 440,500
435,750 435 750
i11,�,2a21,9a8MM
-.1
CITY OF IOWA CITY. IOWA
SCHEDULE OF REVENUE BOND COVERAGE
Last Ten Fiscal Years
Parkina Revenue
Sewer Revenue
1976-77*
796,949
400,480
Net Revenue
50,000
49,787
99,787
4.0
Fiscal
855,256
393,529
Available for
Debt
Service
Reguirements
4.7
Year
Revenue
Expense
Debt Service
Principalrest
Inteotal
T
Coverage
1976-77*
571,060
88,822
482,238
- -
- -
97,786
-
1977-78*
574,708
109,592
465,116
- -
- -
- -
- -
1978-19*
553,675
119,946
433,729
- -
- -
- -
- -
1979-80
661,389
133,344
528,045
- -
371,222
371,222
1.4
1980-81
873,327
355,284
518,043
- -
342,665
342,665
1.5
1981-82
1,059,477
550,285
509,192
- -
342,665
342,665
1.5
1982-83
1,132,348
575,427** 556,921
105,000
335,483
440,483
1.3
1983-84
1,243,865
714,304
529,561
115,000
331,290
446,290
1.2
1984-85
1,605,764
879,798
725,966
120,000
323,065
443,065
1.6
1985-86
1,723,721
868,109
855,612
130,000
319,934
449,934
1.9
Sewer Revenue
1976-77*
796,949
400,480
396,469
50,000
49,787
99,787
4.0
1971-78*
855,256
393,529
461,727
50,000
47,222
97,222
4.7
1978-79*
947,758
515,847
431,911
50,000
45,833
95,833
4.5
1979-80
1,229,279
590,120
639,159
55,000
42,786
97,786
6.5
1980-81
1,182,205
607,205
575,000
60,000
40,771
100,771
5.7
1981-82
1,457,774
783,313
674,461
60,000
38,664
98,664
6.8
1982-83
1,624,226
751,993
872,233
65,000
36,637
101,637
8.6
1983-84
1,658,726
821,689
837,037
65,000
35,340
100,340
8.3
1984-85
1,803,449
858,948
944,501
70,000
33,070
103,070
9.2
1985-86
1,793,385
965,058
828,327
70,000
30,298
100,298
8.3
Nater Revenue
1976-77*
1,230,955
786,926
444,029
140,000
99,195
239,195
1.9
1977-78*
1,392,589
947,120
445,469
145,000
90,482
235,482
1.9
1978-79*
1,381,403
919,577
461,826
170,000
73,649
243,649
1.9
1979-80
1,537,853
957,886
579,967
217,308
70,628
287,936
2.0
1980-81
1,488,588
1,123,039
365,549
188,357
62,526
250,883
1.5
1981-82
1,688,060
1,257,071
430,989
225,000
53,637
278,637
1.5
1982-83
1,688,334
1,272,607
415,727
204,000
45,728
249,728
1.7
1983-84
1,792,751
1,345,105
447,646
122,000
40,104
162,104
2.8
1984-85
1,814,265
1,399,695
414,570
120,000
35,438
155,438
2.7
1985-86
1,736,501
1,643,808
92,693
140,000
34,540
174,540
0.5
Note:
*Fiscal years 1978-1979 and prior were computed on a cash basis where as later years were
computed on an accrual basis.
**The Fiscal Year 1982-83 expense figure is stated at $190,720 below the June 30, 1983,
Parking Fund Operating Expenses, due to parking lot improvements that were expensed and
should not be considered for revenue bond coverage purposes. r�
dt, S+ -95- GO*0
T
-96- Q 0
CITY OF IOWA CITY; IOWA
—.
0F11OBRAPHIC
STATISTICS
I
Last Ten Fiscal
Years*
i Calendar
Year
populaa- Per Capi
tion1l) Income)
Media
Age`)
Median
Family Educatiq
Income �l)
Retail SaJ 6
Level**`�)
q rox. `g1
1950
27,212 ***
25.3
;3,245 68.1%
;34,993,000
1960
33,443 1,914
24.1
5,769 69.5
46,607,000
_
1970
46,850 3,025
22.6
9,942 82.1
84,322,000
r,
- 1974
41,744 4,465
23.4
9,942 82.1
125,920,000
1980
50,508 7,247
24.6
22,325 89.5
215,305,000
rl
Fiscal Year
School rollment
u c 3)
UnemployNN pt
r va a
Rate`
1917
1978
8,937
8,651
723
735
2.3
1979
1980
8,371
8.451
701
631
2 q
2.7
1981
1982
8,256
615
3.5
4.7
.I
1983
8,259
8,226
635
632
4.2
3.7
1984
1985
8,278
8,222
613
611
2.9
:a
1986
8,355
611
1.9
2.1
Notes:
jf
*Ten years of information is presented where available.
**Percent of population completing 12
***Information not available.
years
of formal schooling or
more.
Source:
E M U.S. Department of Coamerce,
(2)Iowa Cit CommunitySchool
Bureau of the
Census
(3)Local Private
(4)Job
District
Schol Office
Office
Service
of Iowa
-96- Q 0
c
CITY OF IOWA CITY, IOWA
PROPERTY VALUE, BUILDING PERMITS AID BANK DEPOSITS
A
4? Last Ten Fiscal Years
Source:
(1)C9ty of Iowa City Building Inspection Department
(2ldocal Bank Offices
(3)City of Iowa City Assessor's Office
New Constructlon(i)
Remodeling
Reea1r and Addit12ns(1)
'
u er
a ue
flu er
--Value —
Bank
Proper11 Yelue)3)
Fiscal Year
of Permits
of Permits*
of Permits of Permits*
Deposits—Realersonat
- aaa e••
1976-77
335
$15,845,003
304
$3,561,659
1303,398,579
$ 434,798,164
$31,668,916
$33,768,152
1977-78
303
18,853,521
349
3,334,677
331,950,890
512,809,267
31,127,990
38,367,838
1978.79
253
19,634,137
358
5,373,034
357,228,954
592,608,447
31,127,903
38,469,858
1979-80
243
26,221,404
359
4,720,415
393,098,669
801,232,944
31,127,990
38,643,728
1980-81
195
16,795,575
294
6,385,303
423,724,320
885,505,416
31,127,919
44,886,610
V
' 1981-82
..
186
19,673,484
233
3 222 768
...
474.105.060
929,852,149
31,127,911
46 936 910
.
1982-83
305
31,198,875
227
8,091,460
554,556,185
1,093,527,819
31,127,903
48,265,500
1983-84
322
39,031,017
230
4,533,696
678,458,975
1,139,387,378
31,127,851
48,265,500
1984-85
152
15,007,197
302
5,879,171
618,214,939
1,217,907,203
31,127,932
50,934,100
1985-06
160
17,628,326
265
5,961,549
646,741,161
1,239,781,694
-
60,943,030
Note:
•Permit values
are based on
estimated construction
costs.
Source:
(1)C9ty of Iowa City Building Inspection Department
(2ldocal Bank Offices
(3)City of Iowa City Assessor's Office
'7_
CITY OF IOWA CITY, IOWA
PRINCIPAL TAXPAYERS AND EMPLOYERS
For Fiscal Year Ended June 30, 1986
Twelve largest taxpayers(l):
Iowa•Illinois Gas & Electric(2)
Procter & Gamble
James & Loretta Clark
& Pentacrest Garden
Old Capitol Center Partners
Owens Brush
American College Testing
Holiday Inn
Seville, Inc.
H.J. Heinz
Sheller -Globe
Northwestern Bell Telephone
Thomas 8 Betts
TOTAL
Ten major employers (3) :
Type of Business
Public Utility
Personal Products
Manufacturing
Apartments
Shopping Center
Brush Manufacturing
Educational Testing Service
Motel
Real Estate Developer
Warehouse Distribution Center
Automotive Padded Products
Manufacturing
Public Utility
Electronics Manufacturing
(including full and part-time employees):
University of Iowa
Iowa City Community Schools
Veterans Administration Hospital
Sheller -Globe
City of Iowa City
National Computer Systems
Mercy Hospital
American College Testing
Owens Brush
Procter and Gamble
Sources:
(I City of Iowa City Assessor's Office
(2f Johnson County Auditor's Office
(3 Job Service' of Iowa
wll
Taxable Valuation
$ 53,172,681
14,355,764
13,987,179
11,650,130
10,643,019
9,648,551
7,989,784
6,974,060
6,678,053
6,523,035
6,377,613
6,339,639
1154,339,508
18,699
1,181
1,135
1,107
873
672
649
515
451
445
02001
CITY OF IOWA CITY; IOYA
MISCELLANEOUS STATISTICAL DATA
Fiscal Year Ended June 30, 1986
_i Date of incorporation
Form of government April 6, 1853
Area Council/Manager
_I Miles of streets: 14,080 acres
1 Paved (approx.)
Unpaved (approx.) 172
12
Number of street lights
2,155
Police protection:
Number of stations 1'
Number of employees 1
Fire protection: 53
Number of stations
Number of employees 3
J Municipal water department: 49
Number of customers
_ Average daily consumption (in gallons) 13,949
Miles of water mains (approx.) 6,310,000
178
Sewers:
Lift stations
Miles of sanitary sewers (approx.) 13
156
Cemetery
'
I
t Recreation:
Municipal Parks -
7 Number of parks
Number of acres 30 ji .;.
Municipal swimming pools 572
Golf courses (non -municipal) 3 a
Other municipal facilities: 3
Recreation Center
Ball diamonds 1
Tennis courts 16
Senior Center 12
1
I�
I I!�
-99- K ��
F -
CITY OF IOWA CITY; IOWA
MISCELLANEOUS STATISTICAL DATA
For Fiscal Year Ended June 30, 1986
Library
Number of volumes (approx.)
Educational Institutions('):
Elementary schools
Junior high schools
High schools
Alternative learning centers
Community college
University
Hospitals
City Employees:
Permanent
Temporary
Elections(2):
Last general election - 1984:
Registered voters
Number of votes cast
Percentage voting
Last municipal election - 1985:
Registered voters
Number of votes cast
Percentage voting
Source:
(')Iowa City Community School District Office
(2)Johnson County Auditor's Office
% C4 S6
-100-
1
160,000
17
2
3
1
1
1
3
472
401
40,903
28,046
68.6%
33,216
4,574
13.8%
V !�
I
Fire Pension and
Retirement Fund
Police Pension an
Retirement Fund
Fire Pension and
Retirement Fund
d
CITY OF IOWA CITY
COMPARATIVE
SUMMARY OF NET
ASSETS AVAILABLE
ANNUAL ACTIVE
FOR BENEFITS AND TOTAL ACTUARIAL PRESENT VALUE
TRUST FUNDS
OF CREDITED PROJECTED BENEFITS -
PENSION TRUST FUNDS
Last Seven Fiscal Years
Last Seven Fiscal
Years
Total Actuarial
Net Assets
Present Value
Annual Active
Fiscal
Available for
of Credited
Member Payroll
Year
Benefits
Projected Benefits
Percentage
1979-80
$1,980,098
$3,693,203
53.6%
1980-81
2,380,490
4,190,364
56.8
1981-82
2,883,487
4,752,785
60.7
1982-83
3,504,804
5,513,637
63.5
1983-84
4,168,768
6,112,800
68.1
1984-85
5,026,965
6,553,126
76.7
1985-86
5,772,640
7,293,707
79.1
1979-80
$1,864,537
$2,662,984
70.0%
1980-81
2,149,567
2,991,764
71.8
1981-82
2,610,684
3,433,790
76.0
1982-83
3,183,498
3,837,297
82.9
1983-84
3,786,011
4,146,728
91.3
1984-85
4,541,353
4,475,900
101.5
1985.86
5,186,260
5,057,307
102.5
Police Pension and
Retirement Fund
COMPARATIVE SUMMARY OF UNFUNDED
ACTUARIAL
PRESENT VALUE OF CREDITED PROJECTED
BENEFITS AND
ANNUAL ACTIVE
MEMBER PAYROLL - PENSION
TRUST FUNDS
Last Seven Fiscal Years
Unfunded Actuarial
Present Value
Fiscal
of Projected
Annual Active
Year
Benefits
Member Payroll
Percentage
1979.80
$1,713,105
$ 849,593
201.6%
1980.81
1,809,874
893,801
202.4
1981-82
1,869,298
1,012,851
184.5
1982.83
2,008,833
1,087,968
184.6
1983-84
1,944,032
1,166,161
166.7
1984.85
1,526,161
1,203,434
126.8
1985-86
1,521,067
1,223,839
124.3
1979-80
$ 798,447
$ 836,788
95.4%
1980-81
842,197
969,864
86.8
1981.82
823,106
1,031,086
79.8
1982.83
653,799
1,185,548
55.1
1983.84
360,717
1,303,484
27.6
1984-85
- -
1,387,021
-
1985.86
- -
1,434,000
-101-
Goof
a
CITY OF IOWA CITY, IOWA
COMPARATIVE SWNARY OF REVENUE BY SOURCE - PENSION TRUST FUNDS
Last Seven Fiscal Years
Fiscal Member Employer State Investment
Year Contributions Contributions Contributions Income Total
Fire Pension and
1979-80
;18,776
$293,604
$29,069
$141,944
;483,393
Retirement Fund
1980-81
19,753
284,517
33,688
209,216547
174
Total
1981-82
22,384
328,948
33,896
278,272
663,500
1980-81
1982-83
33,727
361,674
33,743
387,024
816,168
1,051
1983-84
36,151
379,356
43,210
432,097
890,814
1984-85
37,310
371,801
43,872
634,538
1,087,521
228,473
1985-86
37,939
381,251
46,785
533,262
999,237
Police Pension
1979-80
;18,493
;214,904
;20,939
$163,098
;417,434
and Retirement
1980-81
21,434
229,356
23,458
152,654
426,902
Fund
1981-82
22,787
258,675
26,362
252,795
560,619
1982-83
36,752
286,382
26,695
342,152
691,981
150,097
1983-84
40,408
282,515
34,201
391,417
748,541
169,383
1984-85
42,979
262,355
36,251
564,274
905,859
1985-86
44,454
253,604
40,186
476,046
814,290
COMPARATIVE SUMMARY OF EXPENSES BY TYPE - PENSION TRUST FUNDS
-102-
aDOr --I
Last Seven
Fiscal Years
Fiscal
Administrative
Year
Benefits
Expenses
Total
Fire Pension and
1979-80
;136,497
i 684
;137,181
Retirement Fund
1980-81
146,359
423
146,782
1981-82
159,452
1,051
160,503
1982-83
199,652
562
200,214
1983-84
221,810
5,040
226,850
1984-85
228,473
851
229,324
1985-86
253,562
- -
253,562
Police Pension and
1979-80
i 83,180
; 449
; 83,629
Retirement Fund
1980-81
90,094
51,778
141,872
1981-82
95,107
4,395
99,502
1982-83
118,572
595
119,167
1983-84
134,250
11,778
146,028
1984-85
150,097
420
150,517
1985-86
169,383
- -
169,383
-102-
aDOr --I
Effild
-- — -
CITY OF IOWA CITY, IOWA
COMPARATIVE SUMMARY OF ACTUARIAL VALUES AND
PERCENTAGE COVERED BY NET ASSETS AVAILABLE FOR BENEFITS -
PENSION TRUST FUNDS
LAST SEVEN FISCAL YEARS
Current Active Members,
Retirants
Employer
Net Assets
Percentage of
Actuarial
Fiscal
and
Financed
Available for
Values Covered by
Net Assets
Year
Beneficiaries
Portion
Benefits
Available for
Benefits"
(A)
(B
I{(
Fire Pension and
1979-80
$1,837,696
$1,440,334
$1,980,098
100%
10%
Retirement Fund
1980-81
2,025,619
1,745,421
2,380,490
100
20
1981-82
2,205,463
2,072,330
2,883,487
100
33
1982-83
2,631,492
2,365,216
3,504,804
100
37
;
1983-84
3,035,175
2,558,640
4,168,768
100
44
1984-85
3,600,524
2,929,240
5,026,965
100
49
1985-86
3,958,272
2,762,100
5,772,640
100
66
Police Pension and
1979-80
$ 953,581
$1,322,025
$1,864,537
100%
69%
.i
Retirement Fund
1980-81
1,133,669
1,493,368
2,149,567
100
68
1981-82
1,209,648
1,777,287
2,610,684
100
79
1982-83
1,427,823
1,882,987
3,183,498
100
93
1983-84
1,789,149
1,804,140
3,786,011
!00
100
1984-85
1,783,506
2,083,739
4,541,353
100
100
1985-86
2,164,038
2,269,588
5,186,260
100
100
*'Percentages of Actuarial Values Covered
by Net Assets
for Benefits
for:
(A) Current retirants and beneficiaries
(8) Active members,
employer financed
portion
CITY OF IOWA CITY, IOWA
INVESTMENT PERFORMANCE MEASURITENTS -
PENSION TRUST FUNDS
COIPARATIYE RATES OF RETURN
OI FIXED INCOME SECURITIES* j
FISCAL YEAR ENDED JUNE 30, 1986 -
Ii
i
Fire Pension and Retirement Fund 10.85%
Police Pension and Retirement Fund 10.85% i
Comparison Indexes I
5 -Year Treasury Index(,) 7.57%
*These rates, including the indexes, are exclusive of
unrealized gains or losses.
Source:
(1)Moody's Bond Survey
_ I
i
I�
M
1
I
wtl
J
bac, -104. aoo 8
M,
&V
0
r-
CITY OF IOWA CITY, IOWA
SCHEDULE OF INSURANCE IN FORCE
JUNE 30, 1986
Insurance Company Type of Coverage Limits of Coverage
LIABILITY AND PROPERTY:
—Yrs ernasuL eTrETrety Co. Comprehensive general liability, vehicle Vehicle Ilablllly-L1,000,000/occur.
1�:bll TIF and physical dwge, garage keepers General Ilablllly-5500,000/occur.
blllly (Transltl, non -licensed vehicular 1500,000 annual aggregate
equipment physical damage
Acceptance Insurance Co. Eacess layer over the General Liability 1500,000/occur.; 1500,000 annual aggregate
-Subject In audit
„Cost Plus Plan
11,000,000/occurrence, 11,000,000 annual
aggregate
11,000,000/occur.; 11,000,000 annual
aggregate
11,000,000/occur.; 11,000,000 annual
aggregate
Airport owners, landlords B tenants
T"
Hangar keeper's-61.000,000/6lrcraft;
61,000,000/occur.
151,685,000 (value)
160,760,000 )value)
$445,01/value
1500,000/occurrence
12,491,000 (value)
$42,000 (value)
11,000,000/occurrence
150,000 honesty blanket boad/all employees;
14Do,000/Clty Treasurer;
$400,000/finance Director
1400,000/01silsdnt Finance Director
11,000/person
Based on employee's annual salary
N/A
Basic medical and hospital services;
malar medical
601 of monthly earnings to a maximum of
11 ,soli/mm.
91
Term of Annual
rill ivy. rrivn loon
6/86 thru 6/81 $433,144-
6186 Theo 6/81 120.ODO
10/85 thru 10/66
2/66 thru 2/87
6/86 Theo 6/87
4/86 Theo 4/87
6/86 Theo 6/87
6/86 thru 6/87
6/86 Theo 7/87
7/83 thru 1/86
10/84 thru 10/81
10/84 Theo 10/11I
6/86 thru 6/87
6186 thru 6187
10/85 thru 10186
various
7/05 Theo 1/86
1/86 thru 1/B1
7/85 Theo 6/86
1185 Theo 1/86
1,575
18,115
46,/19
16,425
50.338
18,228
1.589
JIB
5,865
IID
3,799
5.587
1.400
132
24,261
9],116•
6/9,09••
32,861
Primary coverage
Western World Insurance Co.
Liability for fire DeparWnt First Responder
Program
National Casually Company/Markel
Public official liability
National Casualty Compeny/Ilarlel.
Police professional liability
United Slates Aviation
Airport liability and hcngerkeeper's llabll-
Under,nales, Inc.
Ity
Hartford Insurance Company
Red and personal properly, City buildings
Hartford Insurance Company
Difference in condition coverage.
Hertford Insurance Company
Dale processing equipment
the St. Paul Insurance Co.
Public Housing liability
Allendale Insurance Co.
Public Housing building Imurence
National Flood Insurance Program
Public Housing flood Insurance
(federal Insurance Administration)
BOILERS IUD MACHINERY:
Hartford nsurance Limpany
Boilers. City buildings
FIDELIIV IONOS:
cur or "imurance Company
Public MalogI�ees blanket bond, City Treasurer
and Flnanco lreclor bonds
Assistant Finance Director
D.S. Fidelity 4 Guaranty Company
Airport Commlulonera (5)
EMPLOYEE BENEFITS
e�in and o/ America Life
Group life
Insurance Co.
,orlheeslern National Insurance Co.
Worker's Compensation
Blue Cross/Blue Shield of Im.a
Group health
Mutual Benefit Life
Group Lang -term disability
-Subject In audit
„Cost Plus Plan
11,000,000/occurrence, 11,000,000 annual
aggregate
11,000,000/occur.; 11,000,000 annual
aggregate
11,000,000/occur.; 11,000,000 annual
aggregate
Airport owners, landlords B tenants
T"
Hangar keeper's-61.000,000/6lrcraft;
61,000,000/occur.
151,685,000 (value)
160,760,000 )value)
$445,01/value
1500,000/occurrence
12,491,000 (value)
$42,000 (value)
11,000,000/occurrence
150,000 honesty blanket boad/all employees;
14Do,000/Clty Treasurer;
$400,000/finance Director
1400,000/01silsdnt Finance Director
11,000/person
Based on employee's annual salary
N/A
Basic medical and hospital services;
malar medical
601 of monthly earnings to a maximum of
11 ,soli/mm.
91
Term of Annual
rill ivy. rrivn loon
6/86 thru 6/81 $433,144-
6186 Theo 6/81 120.ODO
10/85 thru 10/66
2/66 thru 2/87
6/86 Theo 6/87
4/86 Theo 4/87
6/86 Theo 6/87
6/86 thru 6/87
6/86 Theo 7/87
7/83 thru 1/86
10/84 thru 10/81
10/84 Theo 10/11I
6/86 thru 6/87
6186 thru 6187
10/85 thru 10186
various
7/05 Theo 1/86
1/86 thru 1/B1
7/85 Theo 6/86
1185 Theo 1/86
1,575
18,115
46,/19
16,425
50.338
18,228
1.589
JIB
5,865
IID
3,799
5.587
1.400
132
24,261
9],116•
6/9,09••
32,861
1976-77
1977-78
1978-79
1979-80
1980-81
1981-82
1982-83
1983-84
1984-85
1985-86
On -Street Off -Street CBD Municipal
Meters Meters Meters Lot
(per hour(per hour(per hour(per hour
.10 .10 .10 .15a
.10 .10 .10 .15a
.10 .10 .20 .15a
.10 .10 .20 .15a
.10 .10 .20 .15a
.10 .10 .20 - -b
.10 .10 .20 - -b
.10 .10 .20 - -b
.20 .30 .30 - -b
.30 .30 •.40 - -b
GT
CITY OF IOW CITY, IOW
(per month)
Ramps
Peripheral
PARKING UTES
CBD
Last Ten Fiscal Years
Lots
(In Dollars)
1976-77
1977-78
1978-79
1979-80
1980-81
1981-82
1982-83
1983-84
1984-85
1985-86
On -Street Off -Street CBD Municipal
Meters Meters Meters Lot
(per hour(per hour(per hour(per hour
.10 .10 .10 .15a
.10 .10 .10 .15a
.10 .10 .20 .15a
.10 .10 .20 .15a
.10 .10 .20 .15a
.10 .10 .20 - -b
.10 .10 .20 - -b
.10 .10 .20 - -b
.20 .30 .30 - -b
.30 .30 •.40 - -b
a. 1 hour • 11.15; 2 hours - 11,45; 3 hours • $.90; over 3 hours - $2.50.
b. Municipal lot was closed to commercial parking.
c. Flat rate of 11.50 when cashier is not on duty.
d. First hour rate; subsequent hours rate 11.30.
e. Flat rate of 11.75 when cashier is not on duty.
f. Employee permits discontinued in ramps.
Source: Department of Finance
Note: CBD refers to Central Business District.
Overtime
Parking
2.00
2.00
2.00
2.00
2.00
2.00
2.00
2.00
2.00
3.00
Permits
Commercial/Employee
(per month)
Ramps
Peripheral
CBD
(per hour
Lots
Ramps
Lots
- -
10/ 5
-
10/5
-
10/ 5
-
10/5
- -
12/ 6
-
12/6
.25
16/ 8
27.50/ 8.00
20/8
.25
16/ 8
27.50/ 8.00
20/8
.25
16/ 8
27.50/ 8.00
20/8
.25c
16/ 8
27.50/ 8.00
20/8
.25c
16/ 8
27.50/ 8.00
- -
.35d
20/10
32.50/10.00
- -
.40e
30/15
40.00/ - -f
- -
a. 1 hour • 11.15; 2 hours - 11,45; 3 hours • $.90; over 3 hours - $2.50.
b. Municipal lot was closed to commercial parking.
c. Flat rate of 11.50 when cashier is not on duty.
d. First hour rate; subsequent hours rate 11.30.
e. Flat rate of 11.75 when cashier is not on duty.
f. Employee permits discontinued in ramps.
Source: Department of Finance
Note: CBD refers to Central Business District.
Overtime
Parking
2.00
2.00
2.00
2.00
2.00
2.00
2.00
2.00
2.00
3.00
CITY OF IOWA CITY, IOWA
ANALYSIS OF PARKING REVENUE BOND ORDINANCE RESERVE FUNDS
June 30, 1986
Cash Basis
Beginning Balance
July 1, 1985
Revenue
Disbursements
Ending Balance
June 30, 1986
Parking System
Operation and
Maintenance Fund
$ 495,756.22
1,719,397.85
1,905,490.56
E _3091663_51
Parking System Parking System
Revenue Bond Revenue Debt
and interest
Service
Sinking Fund
Reserve Fund
$ -
$455,600.58
282,501.17
195,512.75
45.08
- -
52821456_09
$6511113_33
-107-
Parking
System
Improvement
Fund
E --
60,000.00
9,740.00
$50,260.00
;
i
C
rfj'.
-
e1
D
Ia
s
C
COMPLIANCE
SECTION
m
➢. 1
-
D
Ia
1
1,
a�
+a ,
I
1
I•
41 w.�4{irL'.
1
� 11
1 �
COMPLIANCE
SECTION
m
➢. 1
i
J
MMCGLADREY
Hendrickson
& Pullen
CERTIFIED PUBLIC ACCOUNTANTS
To the Honorable Mayor and Members of the City Council
City of Iowa City, Iowa
We have examined the general purpose Financial statements of the City
of Iowa City, Iowa, for the year ended June 30, 1986, and have issued our report
thereon dated October 17, 1986. our examination of such general purpose finan-
cial statements was made in accordance with generally accepted auditing stan-
dards and the standards for financial and compliance audits contained in the
"Standards for Audit of Governmental organizations, Programs, Activities and
Functions," issued by the U.S. General Accounting Office and, accordingly,
included such tests of the accounting records and such other auditing procedures
as we considered necessary in the circumstances.
Our examination was made for the purpose of forming an opinion on the
general purpose financial statements taken as a whole. The accompanying sche-
dule of federal and state financial assistance is presented for purposes of
additional analysis and is not a required part of the general purpose financial
statements. The information in that schedule has been subjected to the auditing
procedures applied in the examination of the general purpose financial state-
ments and, in our opinion, is fairly stated in all material respects in relation
to the general purpose financial statements taken as a whole.
�idreG�drrx
-108-
0766
108-
.ZD6 If
CITY OF IOWA CITY
w
SCHEDULE OF FEDERAL AND STATE FINANCIAL
ASSISTANCE PROGRAMS
June 30,
1996
Catalog of
Federal
Amount Expended
Domestic
for the
Federal or
Assistance
Year Ended
i
State Department
Grant Title
Numbers
Grant No. June 30, 1986
_
Department of
Community Development Black
Housing 6 Urban
Grants:
_.
Development
Direct Programs:
Metro Entitlement 1984
14.218
8 -84 -MC -19-0009
36,787
-,
Metro Entitlement 1985
14.218
B -85 -MC -19-0009
563,046
Metro Entitlement 1986
14.218
B -86 -MC -19-0009
143,412
Fair Housing Assistance
14.401
HA -12501
6,917
Program
14.401
HA -12549
2,000
14.401
HA -12691
1,821
Rental Rehabilitation 1984
14.230
R -84 -MC -19-0203
37,274
Rental Rehabilitation 1985
14.230
R -85 -MC -19-0203
19,899
Housing Assistance Payments
Program Section 8 Existing
Section
14.156
IA OS -E022-010
1,265,578
8 Voucher I
14.156
IA OS -V022-001
6,069
Public Housing Admin.:
Low Rent Public Housing
14.850
IA 22-3, 22-4 d 22-5
184,043
Low Rent Public Housing
14.850
IA 22-5
543,849
Development
Department of
Direct Programs:
_
Transportation
Section 3 Transit Facility
20.507
IA -03-0044
12,369
I
Section 3 Bus Acquisition
20.507
IA -03.0051
623
J
Section 9 Operating Assistance
20.507
IA-90-XO49
115,384
Department of
Highway Admini-
Burlington St. Bridge
Benton St. Bridge
20.205
20.205
BHF -0001-5(32)--2L-52 536,781
BRM
-M -4044(1)-8B-52
99,044
stration
Passed through
Iowa Dept. of
Transportation
1
Department of
Direct Programs:
Treasury
Federal Revenue Sharing
21.300
16-2-052-003
429,555
Dept. of Transpor-
tation
i
Passed through
Section 8 Planning Grant
20.505
IA -08-8014
33,456
Iowa Department
FHWA "PL" Funds
20.505
FY86 IA DOT/JCCOG
15,340
of Transporta-
Transit Assistance
- -
FY86 State Transit
—I
tion
Assistance Grant
109,171
� lir
.200i
T
CITY OF IOW CITY
SCHEDOLE OF FEDERAL AND STATE FINANCIAL ASSISTANCE
June 30, 1986
Catalog
of
—
Federal
Domestic
Amount Expended
Federal or
State Department6rent
Title
Assistance
for the
Year Ended
Numbers
Grant No.
June 31,_1986
—
Iowa Office for
Governor's Youth Opportunity
Planning and
Program
Programming
-y
Iowa Youth Corp. 1986
Iowa Youth Corp. 1985
-
87-6.10-EL14
2,576
r! i
Mayor's Youth Corp. 1986
-
- -
87-5.10-EL14
85-6.10-ELOB
24, 487
a I,
mm
Iowa Community Cultural Grant
- -
5-10-N-22
20,092
3,600
i.
Dept. of Labor
Passed through East
Central Iowa
.
Employment
Summer Youth Employment
17.246
JTPA 1F1
124,973
1 �
Iowa State
Historical
Historic Preservation Grant
- -
CLG-84-06
2,850
w
1
Department
Iowa Dept, of
Public Instruc-
Very Special Arts Festival
- -
tion
" '
109
Dept. of Agri-
culture/Food 6
Nutrition Services
Passed through
Iowa Department
of Public
Summer Food Service Program
10.559
52-8026
4,551
-
Education
- Dept. of Energy
—
Passed through
-
Iowa Energy
Policy Council
Energy Management Program Grant
81.052
86-6400-23
16,671
^'
Dept. of Education
Passed through
State Library
of Iowa
"Marc" Cataloging System
84.034
86 -1 -033 -LSCA I
10,812
~
I,
•Mil
I
" I �
-t
i
-112-
:IT
i
r
McGLADREY
i
Hendrickson
& Pullen
CERTIFIED PUBLIC ACCOUNTANTS
-
To the Honorable mayor and Members of the city Council
City of Iowa City,
Iowa
We have examined the general purpose financial statements of the City
of Iowa City, Iowa, for the
year ended June 30, 1986, and have issued our report
thereon dated October 17, 1986- As
I'--
part of our examination, we made a study and
evaluation of the system of internal
accounting control of the CitCity
y of Iowa
Iowa
to the extent we considered necessary to evaluate
the system as required - -
generally accepted auditing standards and by
the standards for financial compliance
audits contained in the "Standards for Audit
anizations, i.
of Governmental Orgu.S.
ns," issued
tpurpose nreport,
I
by
Officems,Fortthe ofand
this Accounting
we havehclassifiederal the significant - '
internal accounting controls in the following
categories:
I
Internal Accounting Controls; �.
i
Financing
i
Cash receipts .,:...
Cash disbursements:
Purchases
Payroll 1'
Financial reporting
i
Our study included all of the control categories listed above. The
purpose of our study and evaluation
was to determine the nature, timing and
extent of the auditing procedures
necessary for expressing an opinion on the
City's general purpose financial statements.
Our study and evaluation was more I�
limited than would be necessary to express an opinion
accounting
on the aystem of internal
control taken as a whole
or on any of the categori
identified above.es of controlsI,.
aThe
management of the City of Iowa City Is responsible for establishing I.
and maintaining a system of internal
accounting control. In fulfilling that
responsibility, estimates and judgments by management
expected benefits and related costs
are required to assess the
of control procedures. The objectives of a
systemovide ment
le, but not bsout, assurance
! 7
and that transactions are executed in accordance
with management's authorization
and recorded properly to permit the
preparation of financial statements in
accordance with generally accepted
I
accounting principles. Because of inherent
limitations in any system of internal of
A
accounting control, errors or
tiesirregularl-
may nevertheless occur and not be detected.
Also, projection of any eva-
luation of the system to future eriods subject
the that
may become inadequate because ofpchangesiin
�J
conditionsor that thedegreedofea
compliance with the procedures may deteriorate..
i
-112-
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-113-
1
V
1.
***
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-113-
1.
i;
W
Our study and evaluation made for the limited purpose described in the
second paragraph would not necessarily disclose all material weaknesses
in the
w system. Accordingly, we do not express an opinion on the system of internal
I� accounting control of the City of Iowa City taken as a whole or on any of the
categories of controls identified in the first paragraph. However, our study
' and evaluation disclosed the following condition that we believe may result in
more than a relatively low risk that errors or irregularities in amounts that
would be material in relation to the general purpose financial statements of the
j City of Iowa City may occur and not be detected within a timely period.
Segregation of Duties:
p, Condition:
11 The number of individuals involved with the data processing function is not
enough to permit an adequate separation of the data processing functions of
C systems design and programming, data entry and computer operations. In
addition, several of the individuals who are performing various data pro-
cessing functions also have other accounting and financial responsibilities.
While we recognize that it may be impractical for the City to achieve ade-
quate segregation of duties within data processing, and to separate data
processing duties from users with other incompatible responsibilities, it is
important that you be aware of this condition.
City Response:
The City is aware of this internal condition. Due to limited financial
resources it was never the City's intention to establish a separate, conven-
tional data processing department. The computer system was purchased based
upon the software's "user friendly" approach to file access and programming.
The City's goal was to reach an acceptable balance between sufficient inter-
nal control and optimal use of available resources for the data processing
J function. The involvement of users in the data processing function has
allowed for an expanded, highly effective data processing system at a mini-
mal coat; this benefit provides a more than sufficient balance to the Inter-
nal control condition of limited ataffing.
This condition was considered in determining the nature, timing and
extent of the audit tests to be applied in our examination of the 1986 general
J purpose financial statements, and this report does not affect our report on the
general purpose financial statements dated October 17, 1986.
This report is intended solely for the use of management, the City
I Council, the Department of Housing and Urban Development and the Iowa State
Auditor's office and should not be used for any other purpose. This restriction
is not intended to limit the distribution of this report which, upon acceptance
by the City is a matter of public record.
Iowa City, Iowa
— October 17, 1986
-114-
.100f
ItN �v
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***
—115—
.tool
J
McGLADREY
Hendrickson
& Pullen
CERTIFIEO PUBLIC ACCOUNTANTS
To the Honorable Hayor and members of the City Council
City of Iowa City, Iowa
We have examined the general purpose financial statements of the City
of Iowa City, Iowa, for the year ended June 30, 1986, and have issued our report
thereon dated October 17, 1986. As part of our examination, we made a study and
evaluation of the internal control systems, including applicable internal admi-
nistrative controls, used in administering federal and state financial
assistance programs to the extent we considered necessary to evaluate the
systems as required by generally accepted auditing standards, the standards for
financial and compliance audits contained in the "Standards for Audit of
Governmental Organizations, Programs, Activities and Functions," issued by the
U.S. General Accounting Office, the Single Audit Act of 1984 and the provisions
of OMB Circular A-128, "Audits of State and Local Governments." For the purpose
of this report, we have classified the significant internal accounting and admi-
nistrative controls used in administering federal financial assistance programs
in the following categories:
Internal Accounting Controls:
Financing
Cash receipts
Cash disbursements:
Purchases
Payroll
Financial reporting
Administrative Controls;
General requirements
Political activity
Construction project administration
Civil rights enforcement and administration
Cash management
Relocation assistance and real property acquisition
Federal financial report preparation
Specific program requirements
Monitoring subrecipients
-116-
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V7 0 `c
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***
-117-
-I
_J
The management of the City of Iowa City is responsible for establishing
and maintaining internal control systems used in administering federal financial
assistance programs. In fulfilling that responsibility, estimates and judgments
by management are required to assess the expected benefits and related costs of
control procedures. The objectives of internal control systems used in admi-
nistering federal and state financial assistance programs are to provide manage-
ment with reasonable, but not absolute assurance that, with respect to federal
and state financial assistance programs, resource use is consistent with laws,
regulations and policies; resources are safeguarded against waste, loss and
misuse; and reliable data are obtained, maintained and fairly disclosed in
reports.
Because of inherent limitations in any system of internal accounting
and administrative controls used in administering federal and state financial
assistance programs, errors or irregularities may nevertheless occur and not be
detected. Also, projection of any evaluation of the systems to future periods
is subject to the risk that procedures may become -inadequate because of changes
in conditions or that the degree of compliance with the procedures may
deteriorate.
Our study included all of the applicable control categories listed
above. During the year ended June 30, 1986, the City of Iowa City expended 87.1%
of its total federal and state financial assistance under major financial
assistance programs. With respect to internal control systems used in admi-
nistering major financial assistance programs, our study and evaluation included
considering the types of errors and irregularities that could occur, determining
the internal control procedures that should prevent or detect such errors and
irregularities, determining whether the necessary procedures are prescribed and
are being followed satisfactorily, and evaluating any weaknesses.
With respect to the internal control systems used solely in admi-
nistering the nonmajor federal and state financial assistance programs of the
City of Iowa City, our study and evaluation was limited to a preliminary review
of the systems to obtain an understanding of the control environment and the
flow of transactions through the accounting system. Our study and evaluation of
the internal control systems used solely in administering the nonmajor financial
assistance programs of the City of Iowa City did not extend beyond this prelimi-
nary review phase.
our study and evaluation was more limited than would be necessary to
express an opinion on the internal control systems used in administering the
federal and state financial assistance programs of the City of Iowa City.
Accordingly, we do not express an opinion on the internal control systems used
in administering the federal and state financial assistance programs of the City
of Iowa City. Further, the City of Iowa City has not engaged us to issue an
opinion on its internal control systems used in administering major financial
assistance programs. Accordingly, we do not express an opinion on the internal
control systems used in administering the major financial assistance programs of
the City of Iowa City.
Also, our examination, made in accordance with the standards mentioned
above, would not necessarily disclose material weaknesses in the internal
control systems used solely in administering nonmajor financial assistance
programs.
,~j Ch 1R Co1
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—119—
—1
i
,~j Ch 1R Co1
***
** This page intentionally Left blank. **
—119—
—1
j However, our study and evaluation and our examination disclosed the
—, following condition that we believe results in more than a relatively low risk
that errors or irregularities in amounts that would be material to a federal and
. state financial assistance program may occur and not be detected within a timely
period.
i
Segregation of Duties:
Condition:
The number of individuals involved with the data processing function is not
enough to permit an adequate separation of the data processing functions of
systems design and programming, data entry and computer operations. In
addition, several of the individuals who are performing various data pro-
ceasing functions also have other accounting and financial responsibilities.
--. While we recognize that it may be impractical for the City to achieve ade-
te segregation of duties within data processing, and to separate data
processing duties from users with other incompatible responsibilities, it is
important that you be aware of this condition.
City Response:
1
The City is aware of this internal condition. Due to limited financial
resources it was never the City's intention to establish a separate, conven-
tional data-processing department. The computer system was purchased based
upon the software's "user friendly" approach to file access and programming.
The City's goal was to reach an acceptable balance between sufficient inter-
nal control and optimal use of available resources for the data processing
function. The involvement of users in the data processing function has
allowed for an expanded, highly effective data processing system at a mini-
mal cost; this benefit provides a more than sufficient balance to the inter-
. nal control condition of limited staffing.
This condition was considered in determining the nature, timing and
extent of the audit tests to be applied in 1) our examination of the 1986
i general purpose financial statements, and 2) our examination and review of the
City's compliance with laws and regulations violation of which we believe could
f program expenditures for each
have a material effect on the allowability o
jor financial assistance program.
major financial assistance program and nonma
This report does not affect our reports on the general purpose financial state-
menta and on the City's compliance with laws and regulations dated October 17,
1986.
This report is intended solely for the use of management, the City
Council, the Department of Housing and Urban Development and the Iowa State
Auditor's Office and should not be used for any other purpose. This restriction
is not intended to limit the distribution of this report which, upon acceptance
by the City of Iowa City is a matter of public record.
JIowa City, Iowa
October 17, 1986
-120-
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***
-121-
McMMADREY
Hendrickson
& Pullen
CERTIFIED PUBLIC ACCOUNTANTS
To the Honorable Mayor and Members of the City Council
City of Iowa City, Iowa
We have examined the general purpose financial statements of the City
of Iowa City, Iowa, for the year ended June 30, 1986, and have issued our report
thereon dated October 17, 1986. Our examination was made in accordance with
generally accepted auditing standards and the standards for financial and
compliance audits contained in the "Standards for Audit of Governmental
Organizations, Programs, Activities and Functions," issued by the U.S. General
Accounting Office and, accordingly, included such tests of the accounting
records and such other auditing procedures as we considered necessary in the
circumstances. .
The management of the City of Iowa City is responsible for the City's
compliance with laws and regulations. In connection with our examination
referred to above, we selected and tested transactions and records to determine
the City's compliance with laws and regulations noncompliance with which could
have a material effect on the general purpose financial statements of the City.
The results of our tests indicate that for the items tested, the City
of Iowa City complied with those laws and regulations with which noncompliance
could have a material effect on the general purpose financial statements.
Nothing came to our attention that caused us to believe that for the items not
tested the City of Iowa City was not in compliance with laws and regulations
with which noncompliance could have a material effect on the City's general pur-
pose financial statements.
The following comments about the City of Iowa City, Iowa operations for
the year ended June 30, 1986 are based exclusively on knowledge obtained from
procedures performed during our examination of the City's financial statements
for the year ended June 30, 1986. Since our examination was based on tests and
samples, not all transactions that might have had an impact on the comments were
necessarily examined. The comments involving statutory and other legal matters
are not intended to constitute legal interpretations.
-122-
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-123-
eZ008
I
I1
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■
II
1. Official Depository Banks
The City's depository banks are:
Maximum
Authorized
Deposit
First National Bank, Iowa City, Iowa $8,000,000
Iowa State Bank 6 Trust Co., Iowa City, Iowa 8, 000 000
Hawkeye State Bank, Iowa City, Iowa 1250,000
Hills Bank S Trust Company, Hills, Iowa 8,000,000
American Federal Savings and Loan, Iowa City, Iowa 8,000,000
000
> 1
A resolution naming these banks as official depository banks is on file with
the State Treasurer. The maximum deposit amounts were not exceeded during
the year.
2. Certified Budget
Program expenditures during the year ended June 30, 1986 did not exceed
amounts budgeted therefore.
3. Entertainment Expense
We noted no expenditures for parties, banquets or other entertainment for
employees that we believe may constitute an unlawful expenditure from public
funds as this is defined in the Attorney General's opinion dated April 25,
1979.
4. Travel Expense
No expenditures of City money for travel expenses of spouses of officials or
employees were noted.
5. Conflict of Interest
No business transactions between the City and City officials and/or
employees were noted.
6. Investments
The investment of funds resulted in interest received of $1,895,965 during
the year.
7. Council Minutes
No transactions were found that we believe should have been approved in the
Council minutes, but were not.
i -124-
s � N.
a 00 9
II
�II
I 1
i
l
1. Official Depository Banks
The City's depository banks are:
Maximum
Authorized
Deposit
First National Bank, Iowa City, Iowa $8,000,000
Iowa State Bank 6 Trust Co., Iowa City, Iowa 8, 000 000
Hawkeye State Bank, Iowa City, Iowa 1250,000
Hills Bank S Trust Company, Hills, Iowa 8,000,000
American Federal Savings and Loan, Iowa City, Iowa 8,000,000
000
> 1
A resolution naming these banks as official depository banks is on file with
the State Treasurer. The maximum deposit amounts were not exceeded during
the year.
2. Certified Budget
Program expenditures during the year ended June 30, 1986 did not exceed
amounts budgeted therefore.
3. Entertainment Expense
We noted no expenditures for parties, banquets or other entertainment for
employees that we believe may constitute an unlawful expenditure from public
funds as this is defined in the Attorney General's opinion dated April 25,
1979.
4. Travel Expense
No expenditures of City money for travel expenses of spouses of officials or
employees were noted.
5. Conflict of Interest
No business transactions between the City and City officials and/or
employees were noted.
6. Investments
The investment of funds resulted in interest received of $1,895,965 during
the year.
7. Council Minutes
No transactions were found that we believe should have been approved in the
Council minutes, but were not.
i -124-
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i
I
�d
i
1
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-125-
'�cc,�> aoeg J
•
j
8. Property and Equipment Records
City property and equipment records are complete through June 30, 1986.
9. Surety Bond Coverage
Surety bond coverage of City officials and employees is in accordance with
statutory provisions.
This report is intended solely for the use of management, the City
Council, and the Iowa State Auditor's Office and should not be used for any
other purpose. This restriction is not intended to limit the distribution of
this report which, upon acceptance by the City is a matter of public record.
Iowa City, Iowa
October 17, 1986 .
-.� -126-
ty 00JV
fpr
A
r
,
I
J
�J
,J
i
8. Property and Equipment Records
City property and equipment records are complete through June 30, 1986.
9. Surety Bond Coverage
Surety bond coverage of City officials and employees is in accordance with
statutory provisions.
This report is intended solely for the use of management, the City
Council, and the Iowa State Auditor's Office and should not be used for any
other purpose. This restriction is not intended to limit the distribution of
this report which, upon acceptance by the City is a matter of public record.
Iowa City, Iowa
October 17, 1986 .
-.� -126-
ty 00JV
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1,
i
***
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***
McGLADREY
Hendrickson
& Pullen
CERTIFIED PUBLIC ACCOUNTANTS
To the Honorable Mayor and Members of the City Council
City of Iowa City, Iowa
We have examined the general purpose financial statements of the City
of Iowa City, Iowa, for the year ended June 30, 1986, and have issued our report
thereon dated October 17, 1986. Our examination was made in accordance with
generally accepted auditing standards, the standards for financial and
compliance audits contained in the "Standards for Audit of Governmental
Organizations, Programs, Activities and Functions," issued by the U.S. General
Accounting Office, the Single Audit Act of 1984 and the provisions of OMB
Circular A-128, "Audits of State and Local Governments" and, accordingly,
included such tests of the accounting records and such other auditing procedures
as we considered necessary in the circumstances. .
The management of the City of Iowa City is responsible for the City's
compliance with laws and regulations. In connection with the examination
referred to above, we selected and tested transactions and records from each
major federal and state financial assistance program and certain nonmajor finan-
cial assistance programs. The purpose of our testing of transactions and
records from those financial assistance programs was to obtain reasonable
assurance that the City of Iowa City had, in all material respects, admin-
istered major programs or executed nonmajor program transactions in compliance
with laws and regulations, including those pertaining to financial reports and
claims for advances and reimbursements, noncompliance with which we believe
could have a material effect on the allowability of program expenditures for
each major financial assistance program.
our testing of transactions and records selected from major federal and
state financial assistance programs disclosed instances of noncompliance with
those laws and regulations that we believe could have a material effect on the
allowability of program expenditures. Those instances of noncompliance are
identified in the accompanying schedule of compliance findings and we considered
them in evaluating whether the City of Iowa City administered its major federal
and state financial assistance programs in compliance, in all material respects,
with those laws and regulations that we believe could have a material effect on
the allowability of program expenditures for each major federal and state finan-
cial assistance program.
In our opinion, except for the effect on the allowability of program expen-
ditures of the instances of noncompliance referred to in the preceding paragraph,
for the year ended June 30, 1986 the City of Iowa City administered its major
federal and state financial assistance programs in substantial compliance with
laws and regulations noncompliance with which we believe could have a material
effect on the allowability of program expenditures for each major financial
assistance program.
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The results of our testing of transactions and records selected from
nonmajor federal and state financial assistance programs indicate that for the
transactions and records tested the City of Iowa City complied with the laws and
regulations referred to above, including those pertaining to financial reports
and claims for advances and reimbursements, except as noted in the accompanying
schedule of compliance findings. Our testing was more limited than would be
necessary to express an opinion on whether the City of Iowa City administered
those programs in compliance in all material respects with those laws and regu-
lations with which noncompliance we believe could have a material effect on the
allowability of program expenditures;,however, with respect to the transactions
and records that were not tested by us, nothing came to our attention to indi-
cate that the City of Iowa City had not complied with the laws and regulations
referred to above other than those laws and regulations for which we have noted
violations in our testing.
yn�" Wa,,hd"�, IV94a�
Iowa City, Iowa
October 17, 1986
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CITY OF IOWA CITY, IOWA
SCHEDULE OF COMPLIANCE FINDINGS
Year Ended June 30, 1986
Page 1 of 2
Department of Housing and Urban Development
Community Development Block Grant Metro Entitlement Program
(CFDA No. 14.218) Grant No. B -84 -MC -19-009
Non -Compliance by Subrecipient
Finding:
Several compliance findings were reported .in the financial and compliance
report of a subrecipient of Department of Housing and Urban Development
Community Development Block Grant funds (CFDA No. 14.218). The findings
included a late financial report, ineligible coats, investment of excess
federal monies and a potential conflict of interest in the purchase of a
building from a member of the subrecipient's board of directors.
Recommendation:
To prevent these types of problems from occurring in the future, we suggest
the City develop a checklist for subrecipients containing all the procedures
required prior to the release of funds. The City Community Development
Block Grant personnel should also have official planning and follow-up
meetings with subrecipient management to assure their awareness of, and
compliance with, federal grant requirements.
City Response:
The City has resolved each of the compliance findings in the subrecipient
audit report. Resolution included return of the money spent on ineligible
costs, return of interest earned and subsequent disbursement of that
interest to the U.S. Department of Housing and Urban Development, and affi-
davits verifying the non -participation of the board member in relation to
the acquisition of the property owned by that board member. Most of the
recommendations made were implemented in early 1985 in reaction to these
early grant experiences. In addition, comprehensive follow-up procedures
have been established in the Finance Department. The City feels that :he
procedures currently in use have been proven effective in that no other
compliance problems have arisen among more than fifteen subrecipients of
approximately $1.5 million.
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Page 2 of 2
Department of Energy
'
Energy Management Program.Grant
(CFDA No. 81.052) Grant No. 86-6400-23 passed through
i
Iowa Energy Policy Council
Davis -Bacon Wage Requirements Not Met by Contractor
i
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Finding:
7
The City has identified an instance of contractor non-compliance with Davis-
. _
Bacon wage requirements on a $1,775 construction contract in the Energy
..
Management Program Grant (CFDA No. 81.052), a non -major federal assistance
-1
programa The amount of the wage adjustment is $662.
--
City Response:
The City has resolved the wage difference concerning the Recreation Center
..�
Gym Relighting Energy Management Program Grant. Due to the fact that the
,.j
Company is no longer doing business the City has disbursed the $662 under-
payment directly to the laborers.
a
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77
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Iowa City
Public Library Lolly Eggers, Director
Information (319) 356-5200
123 South Linn. Iowa City, Iowa 52240 Business (319) 356-52066
October 29, 1986
Ms. Mary Neuhauser
914 Highwood Avenue
Iowa City, Iowa 52240
Dear Ids. Neuhauser:
Thank you for your letter regarding library service reductions.
I assure you that the Library Board of Trustees has spent long hours
reviewing all library services and policies to determine the best options
for confronting continued staff shortages and maintaining the best quality
of provided services.
In your letter you suggested that a users fee be placed on video cassette
recordings as a means of generating income. Over the past 12 months, the
Board has examined and implemented, where it is feasible, additional means
of increasing income to the Library. For example, the fines for overdue
books and for other materials were increased, In FY86 revenues for fines
increased by approximately $40,000. In addition, the staff as well as
members of the Board of Trustees have contributed much of their own time
in fundraising for the Library Foundation.
The suggestion to place fees on video cassette recordings is among the
numerous suggestions the board has received to increase revenues. Some
suggestions have included putting a fee on library cards, books, records,
etc. The board examined these suggestions in light of two factors: 1)
the amount of revenue that could be raised versus the overhead cost of
administering the fees and 2) the Library's policy of free access to all
library services and materials.
i
After examining the administrative cost of applying a fee on VCR's or
other services and materials, we did not see the financial benefit.
The Board's decision not to cut services nor implement fees on services
and materials is based on the firm conviction that all people, regardless
of income, must have free and unrestricted access to all library services.
The choice of services and materials is dependent on the understanding
that people learn from all kinds of materials - records, films, computer
software, magazines, games, art reproductions as well as from books -
depending on the user's choice and need. Some of our users are blind and
especially enjoy music and talking books, Some are mentally retarded or
physically handicapped and respond to visual and oral materials but cannot
read or handle books. Some are students of film and are as interested in
.2007
Ms. Neuhauser
October 29, 1986
Page 2
pursuing themes and trends in movies as others are involved in the world
of fiction as provided in books. Some library users do not want to read
about actors, dancers or musicians but prefer to see and hear them per-
form. Others feel they can learn more easily about cabinet making, home
repairs, car maintenance or other specialized skills from educational
videos than from printed instructions. History documentaries are impor-
tant to people who did not live or experience the time in history. I
especially take note of the documentary on the Viet Nam war that is avail-
able on video cassette recording.
To select a particular service for implementing fees would be discrimina-
tory and also a form of censorship. Censorship is conventionally based on
the contents of provided materials. Elimination of a service or implemen-
tation of fee based on the form of technology would also be a form of
censorship.
There are good and bad films, great and unimportant music, challenging and
entertaining books. The Library tries to provide what is best and the
most useful services and materials to its users and does not understand
the suggestion to arbitrarily drop specific formats or place a fee on
particular formats when a certain format may be conveying a particular
idea or may be the only method that a particular person can utilize. The
Library Board sees the mission' of the library as a community resource
center for all of our citizens.
I hope these comments help you to understand the Board's position even if
you don't entirely agree with it. Your comments are appreciated and I
want you to feel welcome in forwarding other suggestions or comments.
Sincerely,
I q
Riley G im
President