HomeMy WebLinkAbout1987-12-22 Info Packet.o
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City of Iowa City
MEMORANDUM
DATE: November 20, 1987
TO: City Council
FROM: City Manager
RE: Miscellaneous
1. Equipment Costs. As you are aware, in order to develop long-term
financial plans, it is necessary for us to review historical infor-
mation. I thought you would be interested in the increase in costs
to the City for some of our replacement purchases. Oftentimes the
public forgets that the City Government must purchase many of its goods
in services in the private market at market rates.
Pj
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Subcompact Cars: 1978 - $3,375 Up 96%
1988 - $6,610
Pickup trucks: 1978 - $4,533 (full size
1988 - $9,113 (small size) Up 101%
Press -Citizen. We are one of their best customers!
1987 to date $19,548
1986 $24,638
1985 $33,958
1984 $30,198
United Way. City employees have pledged $8,448, approximately 6
percent over our $8,000 goal. Phyllis Morris, Personnel Assistant,
led the city campaign and has again done an excellent job.
cc: Department Directors
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City of Iowa City
MEMORANDUM
Date: November 30, 1981
To: City Council
From: City Manager
Re: University of Iowa - Sewer Bill
On Tuesday, November 24, Dale and Rosemary met with University representa-
tives concerning the current University/city sewer service agreement.
After discussing the matter with them, it appears that the University has
no intention of changing their position with respect to bill payment and
we have continued to advise them that we have no authority nor wish to
pursue rate negotiations. puite frankly, after discussing the matter with
Oa le and Rosemary and having an appreciation for the lecture that we
received from the University officials, I am of the opinion that until
such time as the University would choose to pay its bill, that further
discussions are unproductive. It is my intent to advise them accordingly.
bjl/3
cc: Dale Helling
Rosemary Vitosh
Chuck Schmadeke
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/7944
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City of Iowa City
MEMORANDUM
DATE: November 30, 1987
TO: City Council
FROM: City Manager
RE: Miscellaneous
I.
City of Dubuque. We understand that the City is about to have another
go at the sales tax.
2. Alcohol Awareness. As you may recall, I submitted a proposed alcohol
awareness/bartender license program to you a few months ago. Due to
the press of other matters, I have not had an opportunity to devote
as much time as 1 would have liked to this proposal, and it appears
that the next few months will not provide much relief. It is my intent
to set this issue aside until we have cleared up a number of other
matters. If you disagree, please let me know so I can advise you of
other priority arrangements that may be necessary.
'P4191. OFZ
CITY
T Y OF IOWA
a 319 3-c--000
C I WASHINGTON ST IOW
P CIN. IOWA 522 O ( )
CNIC CENTER a 10 E. WASHING
November 30, 1987
Mr. Larry Schnittjer
NMS Consultants
465 Highway 1 es52240
Iowa City, Iowa
Dear Larry: is in the
As we discussed the other day, you are aware that the City Hopefully the
process of reviewing/updating our subdivision regulations. Hop y
following will provide you with information to encourage comments from the
building and development industry concerning the review of City to date.
sion regulations. As you are aware, we have received no feedback to date.
The present and the City's first Subdivision Ordinance was adopted 21
years ago. It is the opinion of many members of staff that the provisions
are antiquated withtor today's tmarket�gnForrexamples our localrstreets aare
simply do not apply question raised and now subject to
required to be 28 feet wide. The q
atvaelessermwidth. Thisthand other similarsmale advent oflquestionser cars, sareethebtypessthattwe
wish le address in the development of new subdivision standards.
The two major objectives in establishing updated standards would be an
attempt to reduce the overall cost of subdivision development without
permissible. Other
reducing the quality as well as permitting the use of modern materials and
he
equipment in subdivisions that are not now currently p
in99udei the depthmofy concret ect to
debate
streets mond ethers o useheof Erol l Lover
curbs rather than barrier curbs.
and
As I am sure you understand, we are reviewing many tecw process.cal ndThe sIo a
are also considering efforts to
of final plats the by rev ,lanning and Zoning
Code only requires app
o. Commission and the City Council. —� I have seen is "subdivision nreview
preliminary plats and sketch plans are reviewed by
rove plats in other instances, and the City
committee" made up of representatives of the City staff. The Planning an
Zoning Commission would app P the Planning
Council must approve all final plats after recommendation by
and Zoning Commission. While the Commission must consider their in er-
ttee, the subdivision
b
ests in the review process, y use of such a commi
review process could be reduced by as much as four weeks.
d
/'794
Mr. Schnittjer
November 30, 1987
Page 2
There are also ambiguities within the present ordinance and we are at-
tempting to structure a new ordinance that would also use graphics to
display the proposals.
Any comments that you feel would be helpful to the review process would be
appreciated. You may feel free to circulate this letter as you see fit.
Sincerely yours,
Stephe/ins
City Manager
SJA/sp
cc: Don Schmeiser
Chuck Schmadeke
,o•
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City of Iowa City
��- MEMORANDUM
DATE: December 1, 1987
TO: City Council
FROM: City Manager
RE: University Sewer Bill
The Press -Citizen asked for a representative sample of the University
sewer bill compared to others. Attached is the October/November summary.
The University accounted for approximately 25 percent of the bill. I
suspect another story is brewing.
. oil
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Oct/Nov Billings - Bi -Monthly Deriod
Largest Consumers
Service Name Consumption(Cubic Feet) S Billed
U of 1
21,260,356
S 214,472.52
Proctor & Gamble
1,643,800
23,433.57 (Inc Solids)
VA Hospital
2,046,068
21,391.92
Sheller Globe
809,340
8,455.87
Bon Aire Mobile Home
540,500
5,626.54
Hometown Dairy
523,800
5,846.99
Campus Apts
520,700
4,956.26
Mercy Hospital
499,500
5,131.30
Holiday Inn
465,000
4,847.00
Lakeside Manor Apt
438,900
4,983.34
1 C Community Schools
399,000
4,409.14
Seville Apts
373,000
4,049.95
Mark IV
365,500
3,931.46
Towncrest Mobile Homes
311,000
3,250.42
Emerald Ct Apts
253,200
2,713.55
H P Smith
233,000
2,428.54
Heitman Properties Ltd
216,000
2.267.76
Forest View Trailer Ct
173,400
1,804.54
Thomas Betts Co
172,000
1,794.14
Howard Johnson
148,000
1,549.88
Millard Warehouse
143,980
6,358.31 (Inc Solids),
1900 Broadway Cond
137,000
1,446.16
Grandview Apts
122,100
1,323.10
Oaknoll Retirement
119,400
1,210.34
Jim Clark Apts
110,300
1,179.16
Duds & Suds
106,000
1,107.74
/?97
Owens Brush
ALT
Braverman Apts
Old Gold Court
Subtotal
All Others (Includes
Residential, Small
Businesses, Small
Rental Units,
Watering and Air-
conditioning meters)
TOTAL
.Y'
104,000
1,097.62
101,200
1,066.48
95,600
1,206.96
95,000
1,024.82
32,526,644 Cubic Feet 339,381.14
74,132,326 Cubic Feet $ 430,818.39
106,658,970 Cubic Feet $ 770,199.53
17f7
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City of Iowa City
MEMORANDUM
Date: December 2, 1987
To: City Council
From: City Manager
Re: Business Development Inc. Industrial Park - Special Assessments
Theadvised them area banks
furtherichnanhave
been providing
assessments c would be in h avathe ilable
assessmentsfor BDI have
$42,000, were which were due on December 1st in the amount of a
paid b The special
holders have presented the bonds and they are now PProximately
Provide that payment and �n default. The bond -
from the specialyassessmenthave a ehanized Rosemathe City is obligated to
legal means to recover we must now t0 make the Payments
made available to BDI that4payment. It is likel Plan to undertake our
early as June of that she property could be offered if no financing is
special assessments 988 Any Purchaser of the at tax sale as
ment debt has some deg D ee t seat aspect of theproperty must satisfy
of the BOI law, our special asess
breaking Property to numerous landholders, the likelihood of
g up the industrial would have the the sale
park concept, effect of
Off and on the last few weeks we have attempted to
banks to determine whether other financin
have advised them that the Cit work with BDI and the
financing9 mechanisms are available, I
the next few dmonths private sources need�toabegsecuredto
Will be able to Hopefully,
over further
satisfies the banks, provide a financing am that
than a At this time I have no further g Program that
Pledge from BDI to keep us advised of their efforts.
SJA/sp information, other
cc: Rosemary Vitosh, Director of Finance
Dale Helling, Assistant City Manager
/71V
City of Iowa City
MEMORANDUM
Date: December 4, 1987
To: City Council
From: City Manager
Re: Boards and Commissions
By now most of you have reviewed an FY87 Annual Report for the Iowa City
boards and commissions. Over the last month or so I have spoken with
members of the Council as well as citizens questioning the time and re-
lated staff involvement for providing administrative support to these
boards and commissions. Most often the discussion was not a criticism of
the board or commission, but simply securing information about the ex-
penses incurred by the City government in providing staff support. When
you review the Annual Report of the boards and commissions, you will note
that the 22 boards and commissions will discuss their "plans for FY88."
These plans will frequently involve the continuation of a work activity,
such as their general advisory and regulatory responsibilities; however,
there are circumstances where specific work projects are to be undertaken
and require staff support.
Each and every committee does require some level of staff assistance such
as a staff person to prepare agendas and reports, a minute -taker, and use
of the Word Processing staff to prepare the minutes. Our word processing
section has estimated that typing of minutes requires approximately 50% of
the time of one of our word processing staff ($12,000+). In an effort to
give you some idea of the estimated costs for providing administrative
assistance to these boards and commissions I selected a few to show you
staffing costs. If you would like additional more detailed information,
it can be prepared at a later date.
SJA/sp
rs
/799
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Staff Cost
Riverfront Commission
- $ 8,400
25%
of
Associate
Planner
Design Review Committee
- $ 8,670
25%
of
Associate
Planner
Board of Adjustment
- $26,300
75%
of
Associate
Planner
Historic Pres. Comm.
- $ 8,400
25%
of
Associate
Planner
Planning and Zoning Comm.
- $25,100
75%
of
Associate
Planner
$17,900
$20,600
50%
of
Associate
Planner
- $63,600
50%
of
Senior Planner
*None include cost of minute takers and word processing.
City of Iowa City
MEMORANDUM
Date: December 1, 1987
To: city council
From: city Manager
Re: Animal Shelter
As you will recall, we have placed on hold the filling of one full-time
Position at the Animal Shelter. Since that time we have lost another
half-time employee, and it is likely that further staff reductions may
have occur through attrition. In order to maintain some level of service I
authorized
Animal Shelter. If wefwere nnot fto doe
sooitrwould r qu repihetterm nation
of patrol duties.
SJA/sp
cc: Dale Helling
Sylvia Steinbach
Harvey Miller
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CITY of
OWA CITY
CHIC CENTER 410E WASHINGTON ST 10V/A IPS
C CWA „2240 (3.19) 330 -�Ccc
December 1, 1981
Mr. Mike Kattchee, Chair
Senior Center Commission
924 -14th Avenue
Coralville, Iowa 52241
Dear Mike:
In response to your recent letter concerning the proposed expansion of the
Volunteer Coordinator position, I certainly appreciate and understand the
desire of the Commission as well as the users of the Senior Center to be
provided with sufficient staff support to continue the growth of this very
Positive community service. As you know, we are in the process of prepar-
ing budget recommendations to the City Council and have attempted to
Provide a program of service and a financing program that meets our cur-
rent program obligations. Based upon the concept that we will attempt to
prcontinue perform
f
daccordingly,eIvcannotices csupport nor receomnend expansion �of
the staff position at this time. I am also reluctant to "earmark" reve-
nues that are intended to support an expanded service. I recall earlier
discussions concerning the parking fees indicated that these funds would
be a revenue to the General Fund and not for the support of expanded
staff. As you are aware, many fees and charges are being amended through-
out the City budget in order tooff
set current property tax commitments.
We seek new revenues in an effort to minim ze and hopefully reduce the
property tax commitment for the current program of service.
I am concerned that we would expand a program based upon a revenue that is
unable to meet future financial needs, that is there is no inflation
adjustment factor. Staffing costs are inflation sensitive and thereby any
revenue that would be "earmarked" for a particular service should be able
to demonstrate well into the future that it can meet the effects of infla-
tion.
o• i agree and feel that the Senior Center has shown remarkable growth in a
short period of time. However, I must reiterate that we are attempting to
precur-
rent are a prservice
and a
financing
eedsandtherebyserviceexpansionsakd/orearmarking eof revenues
101
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Mr. Mike Kattchee
Oecember 1, 1937
Page 2
would be contrary to that overall budget philosophy. As I am sure
aware, this is clearly a Policy decision to be made by the City Council at
the time they review budget proposals and I canrovided assure you that theyionfore
mation you have
City Council. P me will also be directed to the attention of the
Sincerely yours,
S ephen J. Atkins
City Manager
SJA/sp
cc: City Council
Bette Meisel
Rosemary Vitosh
.V•
IOWA CITY/JOHNSON COUNTY SENIOR CITIZENS
November 23, 1987
Steve Atkins
City Manager
Civic Center
Dear Steve:
CENTER
The Senior Center Commission has instructed me to bring to your attention the
need for a fulltime volunteer coordinator at the Senior Center. We recognize
the difficult financial situation faced by the city at this time,
we would like to explain our request for this position and offer our heler
filling it. Therefore,
p in
In the year Susan Rogusky has been employed b
volunteer coordinator, attendance at the Centerthe hassenior risen 11%tandavolunteere
participation has risen 22%. Although we realize that the cit
departmentsiloccuratptheoSeniordCenterCe Nhatlhasehao not believe that this has or
Y has instructed
at the same s
have been and will be offered to more citizenspofeIowa Cd is ity and Johnson
ervices .
Almost 3000 parking Permits for the Senior Center Lot have been distributed since
Count
we opened in Septembr 1981. We believe that if we charged $5 for an annual
permit to park in the Senior Center Lot, we would sell 2000 permits, We further
believe that if people knew that the noney would be used to increase the hours
worked by the volunteer coordinator, and thus that they would directly benefit
from this fund-raising effort, there would be Positive acceptance of this charge.
We wothe uld then be able to offer the additional weekend and evening activities
whichre esting.
the In this regard we ask you to remember the other
operate nights and weekends. The She Public ?l ?library,
ec Center, Fire, Police)
developing slowly and naturally•
Year operation is
Continued
28 South Linn Street Iowa City, Iowa 52240
(319) 356-5 220
AM
Letter to Steve Atkins - Page 2
In the "Resolution establishing the City's intent to develop and manage a
ter" it says, "Whereas, the City recognizes that the
multi-purpose Senior Cen."
Senior s
Citizens of Johnson County have the right to define and determine the
type of facility that will provide the network of opportunitiedesired..
The dramatic increase in volunteer participation this year demonstrates the
need of the garethe to SenioriCenterdto answernthis need. Therlackvofea fulltime
opportunity are not provided an equal
volunteer coordinator means that the elderly while serving.
opportunity to make a meaningful contribuusenof theirto the eskkillstychance A�ogrowents
They need to be needed, for sociability, in the morning.
and develop, fill afromrole
theave a volunteersn)to get up
we hear repeatedly Council that
The Senior Center Commission is asking yoadditional volunteer
a u to recommend to the City
the Senior Center be allowed to raise the funds to pay for ies
hat we can achieve the Senior Center goal ,to operate a
coordinator hours so t
Senior Center facility from which stimulate personalcgrowth, 9and sprovide camchait nnel/
that support independent living,
forum for inter-comnunity relationships among participants are effective y
assembled and p
sincerely yours,
i4ichael Kattchee, Chair
Senior Center Commission
MK:jp
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City of Iowa City
MEMORANDUM
Date: November 25, 1987
To: All Department and Division Heads
From: Sylvia Steinbach 47
Re: AFSCME Food Drive
AFSCME has advised the City of their desire to conduct a food drive to
benefit the Iowa City Crisis Center. They have requested that they be
allowed to place food collection throughout the City facilities and use
the interoffice mail to send out information.
We support and encourage this effort by AFSCME to provide assistance to
others less fortunate than ourselves. Please work with your AFSCME
representative to place the food boxes in your area.
bj/pc
2 Fid /cu..�
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21987
MARIAN K. KARR Cecenber z, 19",
City of Iowa City CITY CLERK (3)
Iowa City, Iowa 52240 .
ATTN: Members of the City Council
I apologize for another letter to your attention in such a ;hurt
period of tine, but this is aboi.it the frequenry ait which 1
receive citations which 1
Housing. ccrosider unjust from your Depart.ment. of
In this instarrce, I call your attention to the accompanying
notice wherin my tenant complained of no heat in her apartment
and a broken door loci,..
ORDER TO CORRECT CONDITION OF PREMISES
EMERGENCY ORDER
CITY OF IOWA CITY — DEPARTMENT OF HOUSING AND INSPECTION SERVICES
CIVIC CENTER 410 E. WASHINGTON STREET • IOWA CITY, IOWA 52240
As owner or agent for the property at ... 0PAIr...... (1 : ref. A„L you are hereby notified
of the following violations of the Housing Code of the City of Iowa City.
You are ordered to correct these deficiencies within 4A E9t.d. ( -I ) days of receipt of this notice. The premises will then
be reinspected to assure code compliance. See reverse side of this page for relevant authorization sections of the Iowa City Code.
Any questions or problems relating to this violation notice may be directed to the person whose name appears on this order.
.o• Served on ..1!. Bl... by,Inspector. to ...... Me.(f: r: r).....:1c"^G
I particularly resent tale fact thatany cornpi.aintant. can gr.+. the
city to inspect .an apartnj-ent with no notice t.o tl*re lannlori t.> be
present and possibly rebut the charges. t'very other segment. of
the pop.tlati.on h..,s the right. to fare their. ,r.cusar.
owners apparently are denied all corist.itutional rights.6lpartm�=nt
In this case I would have pointed out, Had I been able to be
present. at this inspection, the following;
Tenant is a valued client, having been living in this apart-
ment for the past two winters with no problem with the heat.
_____I /sod
.1.
r
Certainly nothing has been changed. When I got a tali that they
were not getting heat., 1 went up and found that they hai the cold
air returns all blocked with stored boxes, furniture, and closed
doors, and one hot air regtster completely blocked by a french
door opened back against the wall and covering the Hot air
register and a piece of furniture place against this door.
I explained to the tenant that these registers must be kept clear
for the system to operate properly, but no attempt was made at
that time to correct these blockages and 1 seemed to be getting
into an argument, so I left.
Regarding the door lock, tenant did not tell me that. the lock was
broken when I was there. This was a brand new lock, replaced 4
months ago, after she broke the other one that had been in the
door for over 25 years. We have over 30 of these locks on apart-
ment doors and in over 25 years I cannot ever remember having re-
placed over two or three due to malfunctiQns.
It is just too easy for a department head to work a personal
vendetta on any apartment owner who dares to challenge any of his
departments trivial nit --picking. If a tenant has a just
complaint, we are eager to service it and keep that tenant, happy,
but we feel thatfor the city to enter one of our apartments in
nor absence and always automaU ralLy find us guilty with no
recourse, is unjust. In their court., apartment owners are always
guilty until proven innorent, 1.1sually at great. expense +:nd later
retributions.
I feel that this inequity ).e not the intpntof this law, but an
over -zealous interpretation by a department, that dies not have
sufficient. supervision.
Respectfully,
l
to dung
1720 19usratine Ave.
Iowa City, Iowa .52240
CC: Apartment Owners Assn.
Dept. of Housing Insp.
21987
MARIAN K. KARR
CITY CLERK (3)
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IOWA CITY & CORALVII.LE
CONVENTION & VISITORS BUREAU
Commerce Center
325 E. Washiogoo
P.O. Box 2358
Iowa City. Iowa 52744
November 30, 1987 (319) 337-6592
TO: Iowa City and Coralville Councils 4a 6,�__ //
FROM: Renee Jedlicka, Executive Director ( �ll'_/. (:LES
CN1?�L C WI.GiC.A-
Here is an updated packet on the Iowa City/Coralville Convention
& Visitors Bureau and its activities. Please call me if you
have additional questions or want a presentation on the bureau.
What is the purpose of the Iowa City/Coralville Convention $
Visitors Bureau?
The bureau is organi_ed mor the purpose of ad:•a-lcing the economic
welfare of the lcwa City/Coralville common;ties through the
promoti.ig c,,F the c_,amunit.tes as a tourist attraction, convention
site. and location f
]1' eperldi AVante itan independent,
non-profit organisation. -` p
What -is- -
thehistory-af- -
motelta-- -
allocated to tr= bureau?
--------------Iowa City Y----------Cc.ralville-----------Total--
1988 (ESTIM.) 52.100 82,500
136,400
1987
43,111***
1986
52,635*
1985
33,209+
1984
18,782
ND T=S:
100'631,**
143,742
65,414
118,049
83,767
116,976
61,340
80,122
* Holiday Inn opens in Sept. 1984, adding 175 rooms to 332 rooms
in Iowa City. Revenue from tax becins to reflect in Jan.1985.
** Five quarters of revenue are reflected, due to the time a
check was issued from the state. If you take this into account,
1986 Coralville should be $81,809 and
84,235. 1987 Coralville should be
***Three quarters of revenue are reflected, due to the time a
check was issued from the state. If ,you take this into.acco _.
1987 Iowa City'sh6uld be $54j928
n
06
What has teen the burea,-C budget histor'__
FY
Estimated
Accu"I
1967
138,150
147,395
1966
134.350
121.504
1985
121,00
118,945
1994
70.666
81,232
A LODfC AT _THE 6UREAU S bUDGET�
How does the bureau receive its revenue?
Estimated Income for Fiscal `tear 1989:
82,500
Coralville motel tax -x•100
Iowa City :'
motel ta•
Interest/Dues/Mist.136,4Q()
How reiil the burs-�U spc-•r:d these promotior-.1 dollars?
-----------------------------------------------------------
-- ------------------
Fent/upkeep on three I-@0 bil.boards 12:4
Outside Promotion: Selling the community
at travel shows. convention and motorcoach
showso special promotion=_. hospitality 12%
i
roomc. advertising
Local. Promotion: Encouraging people here to
here to host conventions. grant program, o
servicing conventions/special events, t:iosha
o, Brochures: du
Productioniprinting of visra
convention guide, other brochures. plictinge 7„
newsletter
Travel: E;:penses incur% -ed from travel
c:mvention bids, motorcoar_h shows, 6X
state/Ea=_tern Iowa -neetings
How many employees does the bureau have and
how much do they cost? ----------------
----------------------------
23
Executive Director 12%
Administrative Asst. 4%
Benefits & Pension
Where does the bureau spend the remaining dollars?
---------------------------------------------------
Rent to Chamber, one-third cost of
receptionist
I
7%
Telephone, postage, office supplies,
operating supplies, mist.
5%
I
Audit/bonding, liability insurance,
payroll ta::es
---------------------------------------------------------
5/
What are some highlights of the bureau's efforts?
---------------------------------
--a 6% increase in travel expenditures in Johnson
County, moving us from 6th to 5th place in Iowa
--a record number of 155 conventions assisted by bureau
increnne in motorcoach trjurs that st?. c•vernign is
--a ^.ew campaign to encourage University T:'_Lllt'!/staff
c h05t msetings 2nd iriVi T. !7,i'n'/'irtlonii -•r r..
--•a grant program to rewerd local people brirg
meetings and special events here
I --an overall increase in national and regional special
events hosted by the community, and a new regard for
the importance of these events
--a new levelcooperation between Amann, West Branch,
and 1'.alona cnTpromoting our entire area.
-•-a new realization by local people on the importance of
promoting this community and the economic impact of travel
and tourism an our economy
What are some of the hureau's 'future coals?
.�• .-- To increase total travel e penditures ;n Johnson County,
by at least 2 percent.
-- To increase the number of local conventions by at least
15% and motorcoach overnight tours by ISM.
-- To host a hospitality training program for the local industry
-- To find way=- to better monitor the impact of travel here
Y
-- To continue to improve our current programs and chec4eguIt-
.
pG
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Who is the bureau's governing body?
Council Members: Darrel Courtney and Mil:e -.:attchee
Motels: Steve Tarrara, Holiday Inn; Lori Ellingson. Super 9;
Paul Polito, fodeway Inn
Chambers of Commerce: Sheila Boyd and flan Farber
U of I: June Braverman, Conference Center
At -Large, (elected by the bUreau's ?�_ members): Richarc
Huizinga, Sears; Dick Brown, BLE Partns-s and Ernie Lehman.
Enzlers
1104
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SURVEY OF CVB BUDGETS IN "BIG TEN CITIES"
BUREAU/CITY
BUDGET
%_OF_TAX_TO_CVB
%_OF_BUDGET
FROM RM TAX
Columbus, OH
2.7 Million
flat allocation
Bir%
(P 1,200,0)0)
2.1 Million
Minneapolis, MN
1.2 Million
=tat allocation
(P 370,951)
Madison. WI
541.OoO
Ii
41%
(P 174,75:?)
Lansing, MI
Guo, 000
cn% 0< 2'S tax
90.5%
(P 130,747i
Lafayette, IPI
243,000
_irt:
liu)%
(F 120,525)
Arm Arbor. MI
478.000
(P 1!i7,ir;rit?
Iowa Citv, IA 136.400
(P 58.706)
Champaign, IL 515,758
(P 58.267)
Bloomington. (N 377.000
(P 530)4.5)
25% 95%
?Iat a.Ior_ation
based on F/B tax
E: H/M .a„
1'7i % 95%
/806
.01
ICVBA Study
Hotel/Motel Taxes in Iowa
An updated poll of Convention 8. Visitor Bureaus shows the amount
of hotelimotel ta-e
in each town and
tte amount each Bureau
receivee_.
Town
Tax Rate
B�_ireeu_Receive_
Des Moines
77
287 for $9011,1100
Cedar Rapids
7%
31.5% for $236.000
Davenport
57
til/ for $110,0i,1i1
Sioux City
77
207 for $1(:)),0()1.1
Waterloo
57
757 for $150,000
Dubuque
5%
27% for $110,0011
COUnCll BIUff5
5%
P5% fnr $51'00c)
Iowa City
57
25% for $54.992
Ames (estimeteY
5.1
Tor
Clint_n
57.
66'4 for 530,:00
Masan City
57
5117 for 555,000
Bettendorf
57
207 for $57,000
Burlington
57.
257 for $41,1100
Plus additional if
minimum met
Ottumwa
57
no bureau
Muscatine
47
207 for $17,0011
Newton
,i.%
707 fr ':100.00)
Keokuk
57
40% for 532, 0011
Coralville
5%
257 for $83,730
/gog
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City of Iowa City
MEMORANDUM
DATE: December 11, 1987
TO: City Council
FROM: City Manager
RE: Material In Information Packet
Memorandum from the City Manager re library fines; Chamber Banquet;
B.D.I.(Business Development Inc.); Project GREEN project along
Dubuque Street south of I-80.
Memorandum from the City Manager re:
Korean United Methodist Church-Rohret Road
Negotiations with the Kroeze Family/wastewater treatment site
Transit Gift Certificates and new bus shelter
University Sewer Bill
State appointments to Task Force
Letter to Heritage Cablevision re agreement with City from the
City Manager.
Letter of appreciation from Elderly Services Agency of Johnson Count
Letter from First Asst. City Atty Richard Boyle re assessed valuati
property tax assessment for Craig Albrecht, 711 Orchard Street.
Memorandum from the City Manager re University Sewer Bill.
Memo from Asst. City Mgr. re Campaign Aganist Drunk Driving.
Memo from City Mgr. re Process for Soliciting Public Input re Transi
Service/Fare Changes.
Memo from City Mgr. re Winter Tree -Trimming and Removal Contract.
Memo from City Mgr. re Vacation Day.
Memo from City Mgr. re Article on Zoning Codes.
Memo from Economic Development Coordinator re Celebrate Iowa City Dal
Transit Ridership.
Copy of Statement from Johnson County Auditor for Election Costs.
Memo from City Mgr. re November Billing - University of Iowa.
Memo from Director of Finance re Comprehensive Annual Finance Report.
Ui
•
City of Iowa City
MEMORANDUM
Date: December 8, 1987
To: city Council
From: City Manager
Re: Korean United Methodist Church - Rohret Road
Recently, Jay Honohan, attorney for the Iowa City Korean United Methodist
Church, requested that certain procedures be temporarily waived and/or
amended in some fashion to allow the church to open on Sunday, December 6.
The church construction, other than landscaping and final surfacing of the
parking lot, was complete. Under City ordinance, the church is required
to provide an escrow for the landscaping and parking lot surfacing. I was
advised through Attorney Honohan that the church could not raise the
approximately $17,000 escrow. Following discussions with our building
staff, as well as the City Attorney's office, it was clear that our
ordinance language was non -discretionary and the church would be required
to provide the escrow in order to receive their certificate of occupancy.
Further conversations with the church indicated thatthey would provide a
hletter from the "home office" guaranteeing the funds to complete the
asJlittle legaln the psignific sigof nificance t demonstrated , no later than tosmelat theWhile
verthe letter
moral commitment on the part of the church to satisfy completely
a
development responsibilities. Accordin 1 p y their
staff to complete inspections and release the I auticateeof occupancy building
ying
that the church could hold its consecration services on December 6.
Technically, the church is in violation; however, I felt that under the
circumstances and in the interest of allowing the church to proceed, the
letter pledging their commitment to completing the project would be
sufficient.
cc: Doug Boothroy
Terry Timmins
bj/pc
0191F�01 .10"
Mi I omm
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City of Iowa City
MEMORANDUM
Date: December 10, 1987
To: City Council
From: City Manager
Re: Negotiations with Kroeze Family
� Over the last
iCount several weeks, in an effort to develop
treatment Plant of the zone change requested for Some means to secure
means plant, we met with the the new south wastewater
to satisfy their concerns an
family to determine if
i the zone change. We also have them withdraw their there is a
forth appears to be economeic filth Kent Braverman objections to
indicated a willingness and y not feasible and the proposal he put
thee to satisf y thehrvco Offered
dba number eoprproposalslwhich
Y Boardy not on]
Pursue this matter and wanted to let you know ma also
formal recommendation foOpefull that we are satisfy those of
Y within the next continuing to
Board officiall your consideration and thereby
we will have a
Y consider the zone change. Y have the
I County
cc: Dale Helling, Assistant City Manager
I /sa
I
01
I
I
.1.
City of Iowa City
MEMORANDUM
Date: December 11, 1987
To: City Council
From: City Manager
Re: Miscellaneous
1. Transit Gift Certificates. In response to requests from the public,
Iowa City Transit is now offering for sale gift certificates for a
monthly bus pass. These certificates may be purchased from the Civic
Center Cashier.
2. New Bus Shelter. We have been in communication with officials of Hy -
Vee Food Stores regarding the installation of a bus shelter adjacent
to their store on Rochester Avenue. Due to the number of senior
citizens who use the bus to go shopping at Hy -Vee, John Lundell feels
confident this shelter will be well utilized. We anticipate the
purchase of this shelter being a combination of federal, state and
Hy -Vee funds with no investment by the City. Hy -Vee is also willing
to have the concrete pad installed at their expense. Once the
shelter is installed, the transit staff will be responsible for its
upkeep.
bc2-2
M
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EM
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City of Iowa City
MEMORANDUM
DATE: December 11, 1987
TO: City Council
FROM: City Manager
RE: University Sewer Bill
Attached is a copy of the notice mailed to the University on Friday,
December 11. With this notice, the University is now 'officially"
delinquent.
cc: Terry Timmins
Marian Karr
Rosemary Vitosh
Chuck Schmadeke
CITY OF
CHIC CENTER 410E WASHNrrON ST IOWA IOWA Chr � �� � ;,^ CITY
C,.. ,.22a0 (319) 3r,6 -SCM
UTILITY SERVICE
NOTICE OF OVERDUE ACCOUNT
10 -Dec -87
Service Address: Bldg/Grounds Sewer
Account#: 201 725 00 Overdue Amt: $76,672.86
U of I, PPD % Util Div
103 Burlington St w
Iowa City, la 52242
Please disregard this notice if your payment is in the mail.
If Payment is not received within 13 days, sewer service will be
discontinued. At that time, a $12 fee will be added to the amount
due to cover administrative and service costs on delinquent accounts.
The total amount of the delinquent billing and the fees must be paid
in cash before service is restored if a disconnection has occurred.
Do not pay bills at substations after receipt of this letter.
CC: %Duane Nollsch
BLDG & GROUNDS
University of Iowa
Iowa City, Iowa 52242
.Y•
0
City of Iowa City
MEMORANDUM
Date: December 11, 1981
To: City Council
From: City Manager
Re: State Appointments Task Force
I thought you might be interested in a new initiative on the part of the
Iowa City Area and Cedar Rapids Chambers of Commerce. Attached is a copy
Of minutes of a recent meeting concerning the issue of providing can-
didates from our area for state boards and commissions. Evidently the new
regulations and/or laws governing the appointment power of the Governor
require greater gender and party balance. If there are any individuals
that you might feel should be considered, I would suggest that you contact
Pat Grady with your suggestions.
bJ/pc
I8/
MINUTES
State Appointments Task Force
Cedar Rapids Area Chamber of Commerce
December 7, 1987
Present: Joe Hladky, Chair
Buck Riley
John Balmer
Henry Royer
Carol Burns
Steve Sovern
Mike Cilek
Bob Verhille
Arlene Dayhoff
Nancylee Ziese
Jack Evans
Phil Stanhope
Pat Grady
Suki Cell
Bob Kazimour
Jim Larew
The information mailed to Task Force members addresses specific
boards and commissions of interest to the two Chambers.
Joe Hladky introduced Phil Stanhope, Assistant to the Governor,
who works with General Services, Personnel, Campaign Finance and
State Appointments.
Stanhope explained the appointments process and the factors that
are considered before each appointment is made.
Two dates are important: March 15, the last date the Governor
sends nominations to the Senate for confirmation; June 30, the
last date for appointing those who do not need confirmation.
Senate confirmed candidates assume their duties on April 30.
Persons appointed by the Governor by the June 30 deadline assume
their responsibilities on July 1. The Governor has control of
"99$" of all appointments.
The following factors are important:
1. Party balance - no more than a simple majority of any
one party (written in the Code).
2. Gender balance (written in the Code).
3. Geographical balance (only a few Code citations but an
unwritten and significant factor).
4. Replacements for persons who resign are handled in the
same manner administratively as initial appointments. Stanhope
calls up the names already in the computer system and works with
these applicants first.
Provided there is gender balance and party balance, the Governor
tends to reappoint people, especially if they have just completed
a first term. Lack of participation and poor attendance are
examples of negative factors which might reverse the Governors
original intention.
l glz
M
Economic Development Board (page 15)
It is important to have nominees who are female although
the next appointment will come from northwest Iowa.
Department of Natural Resources (page 17)
Iowa City should put in a name of a woman for 1989 now in
case of a resignation.
Health Board (page 20)
The Code mandates four public members. Physicians/pro-
fessionals will need to be replaced. Iowa City should
check out Richard Dague and if his reappointment is not
Possible, should find another person. In any case, Cedar
Rapids should be informed so we may write a letter in
support of Iowa City's candidate.
Council on Human Relations (page 21)
Names from Iowa City need to be in the pipeline for 1989 or
for a replacement.
Public Employment Relations Board (page 23)
Women are needed for two appointments in 1988. The person
needs to live near Des Moines.
Railwa Fi a ce Authorit (page 25)
Richard Flagg's term expires in 1988. The Authority is
important to our area interests and Iowa City should seek
out a woman.
State Board of Education (page 26)
Three terms expire in 1988. Iowa City definitely needs to
find someone. This Board will face some very controversial
decisions.
State Hoard of Repents (page 29)
Percy Harris will leave the Board in 1989 because he is male.
Cedar Rapids needs to find a female Democrat to fill this
Position.
State Board of Tax Review (page 31)
Women are needed on this Board. Both Cedar Rapids and
Iowa City should propose names.
State Racing Commission (page 32)
Reappointment of Bud Pike is likely, but a name should be
submitted from the third congressional district.
Transportation Commission (page 33)
The best possible female candidate should be found. Iowa
City needs to find a female Republican for 1988. In
1989, David Clemens' term expires. Both Chamber should
be ready with names.
f v /Z
.o•
ELDERLY SERVICES AGENCY of Johnson County
28 South Linn Street a Iowa City. Iowa 52240. 356-5215
December 10, 1987
Mr. William Ambrisco
Mr. Ernie Zuber
Mr. George Strait
Ms. Kate Dickson
Mr. Larry Baker
Mr. John McDonald
Mr. Darrel Courtney
The Board of Directors at Elderly Services voted unanimously today
to send its thanks to you for the efforts of the Council on behalf
of the elderly and the handicapped in Iowa City. Your latest act in
passing Ordinance No. 87-3349 on Accessory Apartments will mean that
our elderly and handicapped citizens will have an attractive option
in their fight to remain at home in order to avoid premature insti-
tutionalization. The fact that accessory apartments will now be
monitored by City staff will ensure the safety and well-being of
elderly homeowners when they enter into these agreements with their
tenants. We commend your efforts on behalf of those in need.
s
Sincerely,
Ann Bag_ /President
Board of Directors
Chris Knapp, Vice President
Jeanne Osborn, Secretary
Stan Miller, Treasurer
Corinne Schoer
Doris Hughes
Betty Erickson
Whitey Piro
John Dane
Joe Segreti
Richard V. Theobald
Pauline Wright
Don Benda
Gary Haymond
Chan Coulter
Leland Stock
CITY OF IOWA CITY
CIVIC CENTER _110 E. WASHINGTON ST. IOWA CITY, DADA 52240 (319) 356-5000
Mr. William J. Ambrisco, Mayor, and Members
City Council of Iowa City
and
Ms. Betty Ockenfels, Chairperson, and Members
Johnson County Board of Supervisors
and
Ms. Lynne Cannon, President, and Members
Iowa City School Board
Re: Craig Albrecht V. Board of Review, Docket No. 49242
711 Orchard Street, Iowa City
Pursuant to Iowa Code Section 441.44, this is to notify each of you that
the undersigned, on behalf of the Iowa City Board of Review, is proposing
to voluntarily settle the above -referenced property tax assessment appeal
by agreeing to reduce the assessed valuations for January 1, 1985, 1985,
1987 and 1988 from $72,590 to $70,570. The City Assessor has informed me
that the Board of Review members concur in this proposal.
This settlement is proposed in order to resolve a relatively small dispute
without the cost of litigation.
Please notify the undersigned or Dan Hudson before December 23, 1987, if
there are objections to this proposal. Otherwise, we will assume there
are no objections.
Sincerely,
Richard J. Boyle
First Assistant City Attorney
and
Attorney for Board of Review
/sp
cc: Dan Hudson
a
8 December 1987
/gis
.1.
r
City of Iowa City
MEMORANDUM
DATE: December 11, 1987
TO: City Council
FROM: City Manager
RE: University Sewer Bill
Attached is a copy of the notice mailed to the University on Friday,
December 11. With this notice, the University is now "officially"
delinquent.
cc: Terry Timmins
Marian Karr
Rosemary Vitosh
Chuck Schmadeke
/g/6
.o1
a
CITY OF IOWA CITY
CIVIC CENTER 410 E WASHNGiON ST IOWA 01Y 10 ViA 52240 (319) 356-5CCO
UTILITY SERVICE
NOTICE OF OVERDUE ACCOUNT
10 -Dec -87
Service Address: Bldg/Grounds Sewer Overdue Amt: $76,672.86
Account#: 201 725 00
U of I, PPD % Util Div
103 Burlington St W
Iowa City, Ia 52242
Please disregard this notice if your payment is in the mail.
If Payment is not received within 13 days, sewer service will be
discontinued. At that time, a $12 fee will be added to the amount
due to cover administrative and service costs on delinquent accounts.
The total amount of the delinquent billing and the fees must be paid
in cash before service is restored if a disconnection has occurred.
Do not pay bills at substations after receipt of this letter.
CC: Mane Nollsch
BLDG b GROUNDS
University of Iowa
Iowa City, Iowa 52242
?/4
I
4
City of Iowa City
MEMORANDUM
DATE: December 14, 1987
TO: All Department/Division Heads
FEW: Sylvia Steinbach
EE: Attached }1�
Please distribute the attached memos to all permanent City
employees as soon as possible. Your cooperation in making
employees aware of the "red ribbon" campaign is appreciated.
4/7
.V'
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city of Iowa city
MEMORANDUM
Date: December 14, 1987
To: All City Employees
From: Assistant City Manager �v�1
Re: Campaign Against Drunk Driving
The City of Iowa City and its employees, through their respective employee
organizations (American Federation of State, County and Municipal
Employees, Local 183; the Iowa City Association of Professional Fire
Fighters, IAFF Local 610; and the Police Labor Relations Organization of
Iowa City) are joining with Mothers Against Drunk Driving (MADD) during
this holiday season in its campaign against drunk driving.; The campaign,
initiated by HADD, involves affixing a red ribbon to the left door of each
vehicle to encourage awareness of the dangers of drunk driving and to
remind everyone not to drink and drive.
All City on
attached tom the leftaout ide emir orsted t ofeevery City vehicle fornsure that a red the remains
re theperiod
between December 15, 1987 and January 3, 1988. Ribbons will be
distributed to City departments through the Equipment Maintenance Division
and extra ribbons will be available from supervisors or at the maintenance
shop so that ribbons lost or stolen may be replaced. If you choose to
personally participate, ribbons for your personal vehicles may be picked
up at the front desk of the Police Department.
Your cooperation in helping
ed make this holiday season safer for our
citizens is greatly app
cc: city Council
City Manager
M.A.D.D.
bj/pc
City of lows City
MEMORANDUM
Date: December 9, 1987
To: City Council
From: City Manager
Re: Public Input Process
The Urban Mass Transportation Administration recently completed its
triennial review of Iowa City Transit. As a result of this review, UMTA
has requested the City to establish a process for soliciting public input
when transit service or fare changes are proposed. The attached memo
formally describes the current process which the City uses to solicit
input when transit changes are proposed. The attached memo satisifies
UMTA's request for us to develop this process.
Unless I hear from you otherwise, I will assume you concur with this
action.
bdw3/1
Attachment
cc: John Lundell, Transit Manager
a
' V-00 Ov",
City of Iowa City
MEMORANDUM
Date: December 14, 1987
To: City Council
From: City Manager
Re: Winter Tree -trimming and Removal Contract
In cooperation with Iowa -Illinois Gas & Electric Company, the City and the
Company will begin the winter tree -trimming and removal program shortly
after the beginning of the year. We estimate that 23 trees will be
trimmed and 25 will need to be removed. Iowa -Illinois will also be remov-
ing trees that are close to energized electric wires.
All residences adjacent to trees which are to be removed have been noti-
fied. In those instances where we were aware that it was a rental prop-
erty, we did our best to ascertain the owner's name and send the notice to
that individual.
All trees that are to be trimmed and removed have been inspected and the
work undertaken is done based upon our belief that it is best for the tree
and/or public safety. Where practical, we will plant a replacement tree
in those areas where removal has occurred. The replacement will occur
later in the year.
cc: Terry Trueblood
SJA/sp
i
0
City of Iowa City
MEMORANDUM
TO: City Council DATE: December 14, 1987
FROM: City Manager
RE: Vacation Day
1 intend to take a day's vacation on Wednesday, December 23. Lorraine
will have my itinerary.
/8�0
City of Iowa City
f - MEMORANDUM
TO: City Council
FROM: City Manager
RE: Miscellaneous
DATE: December 14, 1987
From the "I can't believe it's in the zoning ordinance" department.
/gal
from Highway I and malar public viewing arcas,uch : ..-
points, vista turnouts, and public beaches.
The county i transfer of development credits code allows
any buildable parcel within the viewshed protection area to
transfer two development credits to designated receiving sites
outside of the viewshed protection area. To qualify. such
receiving parcels must meet the county's criteria for soil
suitability, resource protection, and geological safety. Any
construction on receiving sites must be on the portion of the
parcel least visible from public viewpoints. New structures
must not be sited on hillsides and silhouetted ridges, and new
development must not leave any excavation scars or slope
disturbances. In general• development must be subordinate to
the natural environment, and, to the maximum extent feasible,
new construction must blend in with the landscape and
vegetation through the use of indigenous building materials
and colors.
Monterey County's viewshed TDR program is the latest
evidence of its long-standing concern for the protection of the
Big Sur's scenic beauty. During the early 1940s, county
zoning officials gained national attention by refusing to
approve advertising for a roadside service station. A landmark
court decision in favor of the county established the authority
of California local governments to regulate aesthetics. In the
1960s. Highway I was designated as the first scenic highway
in California's state scenic highway system. The count• has
taken other steps. such as the use of a scenic conservation
zone. special site planning and landscaping controls, and
visual nuisance regulations to preserve the outstanding views
of the Big Sur area.
he Red Tape
Department
Zoning codes are frequently characterized by builders and
developers as unclear and imprecise. In response to such
criticisms. local zoning officials have occasionally tried to
spell out all the details. In a few cases they may have gone too
far. Consider for example:
■ In Coral Gables. Florida, children's playhouses are
required to be of concrete block stucco construction with
tile roofing, and they must be screened by shrubbery so
they are not visible from the street. The Coral Gables
zoning code also prohibits the -possession. harboring.
sheltering. or keeping of any cat that creates a nuisance by
way of noise, odor, or menace to health or otherwise."
■ According to the Davis. California, zoning code, clothes
lines in multifamily districts must 'be convenient to
washing facilities and oriented so as to receive sufficient
sun to dry clothes throughout the year."
'O ■ In Beverly Hills. California. signsare-limitedtonotmore
than three colors." Each shade or blending of a color
�. constitutes a separate color.
■ The San Diego County zoning code requires homeowners
raising earthworms to demonstrate that any odors and/or
By -breeding are not greater than customarily found at a
w well-maintained residence.
g
■ The New York City zoning code limits "rabbit -killing
r, establishments" to those zoning lots on which the retail
sales of such rabbits occur.
■ The Los Angeles zoning code specifically regulates
4
blacksmith shops; cow, fish, and frog keeping: cooperage
(i.e.. the hand crafting of wooden tubs or casks): merry-go-
rounds and pony -ride rings: the manufacture of sauerkraut:
and taxi dance halls.
■ The Baltimore County zoning code allows the zoning I
commissioner to grant variances from lot area and setback
requirements for underground fallout shelters so Ione as ,� o
these shelters are compatible with the surrounding
zoing code.neighborhood and in harmony with the purposes oft
zoning code.
If your community has some off-the-wall zoning
regulations. or if you know of some. send copies of them to the
attention of Zoning News. American Planning Association,
1313 E. 60th St., Chicago. IL 60637. In future issues, we
expect to feature codes that establish urban design standards
for bait and tackle shops, zoning requirements for the
backyard burial of dead relatives, aesthetic standards for water
tower paintings, and others.
�i� eports
Development Trends: 1987
Urban fend Institute, 10901ermcnt Ave., N. Iv, llhslfngron,
DC 20005 1987 48 pp. S8 plus 52.50 postage.
This annual report examines trends in the national economy,
state and local regulations, and the real estate market by each
sector—residential, commercial. industrial. and others. The
chapter on state and local regulations gives a brief overview of
the current use of development exactions and fees.
development agreement legislation, and environmental
controls for wetland and groundwater protection and hazardous
waste management.
Urban Design Plan for
Downtown Boulder
City of Boulder, Department of Community Planning and
De)•elopmenr, P.O. Bar Al, Boulder, CO 80306 1986 89 pp.
lindred copies free,
This plan establishes design guidelines for new buildings and
for the renovation of existing buildings. The plan offers
suggestions and illustrations for improved design of parking
facilities, signs, alley improvements, strectscape
improvements, and downtown parks. The plan tries to pinpoint
actions that would enhance the appearance and function of the
city's downtown and protect the city's close -in residential
neighborhoods.
Lmrnc.vr%s is a mutably neualenn Published by die Amman Planning Asaoeation.
Subunpwi s arc avattable for SH IU.S.) and 331 Ifareignl. Anel S1.11nim. Eem,ve
Dvenor: Frank S. So, Deputy Eaecvtive Dirwor; lWith revels, Director of
Research; Sylvia owls, Publiatiom Direct.
Lmmg,3'ns u produced al APA. Tow P. Smith. Editor: fun Hmimavich aro
Adele Rolhblm. Assistant Beldon.
Cop"""' 111117 Amman Planning Association. 1313 E.60th SI., Chicago. IL
11137. The Amacm Planning Auocunon has heaa,,amen ofxea at 1776
3lassachusens Ave,• N.W., Washtnpo, DC 20036.
All nghu owned. No Pan of aha publication may be reproduced or utilized in my
foam or by my meant, elecamn c or mecluniea, including Photocopying• recording, or
by any m6rmvuon vonge and revina system, without pemusawn in Writing font de
Amcrkm Planning Aswcullon,
/ gal
V
City of Iowa City
MEMORANDUM
Date: December 16, 1987
To:P tt Cain, Economic Development Coordinator
From: ohn Lundell, Transit Manager
Re: Celebrate Iowa City Day Transit Ridership
I have reviewed the Iowa City Transit ridership and revenue figures for
the Celebrate Iowa City Day on September 12. As you are aware, as part of
the celebration ICT offered half price (251) rides all day. I believe
this year's promotion was successful and with more advanced planning next
year ICT will be able to play an even more important role.
Listed below are the ridership and revenue figures for each Saturday in
September and October.
*Total cash only; does not include revenue from monthly passes, strip
tickets, or bus and shop coupons.
Feel free to contact me with any questions or comments.
bdw3/4
cc: eve Atkins, City Manager
Pat Grady, Chamber of Commerce
Ridership
Revenue*
Average Fare*
September 5
1,664
$453.04
.27
September 12
2,562
$423.95
.17
September 19
1,685
$441.23
.26
September 26
2,142
$674.62
.31
October 3
1,871
$578.11
.31
October 10
1,694
$458.95
.27
October 17
1,816
$501.95
.27
October 24
1,914
$584.59
.30
October 31
1,989
$633.83
.32
*Total cash only; does not include revenue from monthly passes, strip
tickets, or bus and shop coupons.
Feel free to contact me with any questions or comments.
bdw3/4
cc: eve Atkins, City Manager
Pat Grady, Chamber of Commerce
.V'
10M sl xkctt
Johnson county auditor
comff!"ioncr of elections
& voter registration
TO: City of Iowa City
FROM: Johnson County Auditor,
RE: Election CostsElections Division
, October 6
DATE: October 29, 19' f 1987
The
conductingfollowing costs were incurred by Johnson
the Local Sales Tax Special Election held in
County on October 6, 1987. CO�tY in
Johnson
Ballot Printing
Election Registers
Equipment Rental
S 5,925.00
(Audio-visual)
Official Publication
1,773.33
Costs
Polling Place Rental
Postage
16.96
2,324.73
Precinct Election Officials
Precinct Su
444.00
94.01
Telephone Installation/Service
OPTECNS:
13,012.09
1r 419.59
Programming 6 Set-up
192.69
Delivery and Return
258.48
360.56
TDTAL AMOUNT DUE
State of Iowa ' County of Johnson,
S 25,891.44
ss:
that I solemnly i under authorit above account is just and true,
the same is
Ofiobtaining Payment thereof. I lakeothisestatemeand has not been
said claim, the purpose
Make warrant payable and remit to Johnson County Auditor.
T/Slockett
Johnson County Auditor and
Commissioner of Elections
913 S. dubuque • iowo cily, ;oe,u 52240 • 319.338•5428
/g.? 3
City of Iowa City
MEMORANDUM =
Date: December 17, 1987
i
To: City Council
From: City Manager
Re: November Billing - University of Iowa
We have i
48fr the
University cofvIowed a'smNovember ment on resewer r bill�n They have again 5fithe amount of not7paid the
full amount and placed $32,525 in escrow. This bill will be delinquent on
January 8.
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City of Iowa City
MEMORANDUM
Date: December 18, 1987
To: City Council (� r
From: Rosemary Vitosh, Director of Finance
Re: Comprehensive Annual Financial Report
I hereby submit to you the City's Comprehensive Financial Report for the
Fiscal Year Ended June 30, 1987. 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 contractual provisions, extensive
introductory material, and a detailed Statistical Section.
These financial statements do differ from those used for budget preparation.
The City maintains its daily accounting records on a modified cash basis and
converts those records to the accrual or modified accrual basis, as neces-
sary, in order to prepare the annual financial statements in accordance with
generally accepted accounting principles. The budget is prepared on the
modified cash basis which allows for the monitoring of transactions through-
out the fiscal year.
The transmittal letter on page 7 discusses comparative summaries of revenues
and expenditures for FY87 and FY86. The auditor's opinion appears on page
17. The summary financial statements begin on page 19 and individual fund
statements begin on page 69.
The Combining Statement of Revenues, Expenses and Changes in Retained Earn-
ings - All Enterprise Funds on page 84-85 provides a comprehensive summary of
the results of Enterprise Funds operations. Note that only two of the seven
funds experienced a net income in FY1987. Parking transferred $200,000 to
Transit to finance their operations. Pollution Control abandoned the initial
wastewater treatment design project which necessitated the expensing of an
asset amount of $1,604,900. The Airport loss is due to depreciation expense,
as is Mass Transportation's. Depreciation expense is not covered by the
Housing Authority's annual contributions contract with HUD, and that loss is
further aggrevated by the fact that HUD has not processed an annual contribu-
tions contract payment for the Public Housing debt in over two years.
The Notes to the Financial Statements begin on page 37 and provide a summary
of significant accounting policies and other disclosures, required for a fair
presentation of the basic financial statements. The Compliance Section
provides reports which meet audit requirements of the State and Federal
governments. Included are the auditor's reports on 1) the schedule of Fed-
eral and State financial assistance (page 43), 2) internal accounting con-
trols for general purpose financial statements (page 147), 3) internal
accounting controls and administrative controls for the federal financial
assistance programs (page 153), 4) compliance for general purpose financial
/80?s
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statements (page 161), and 5) compliance for Federal financial assistance
Programs (page 167). The auditors' findings along with the City's response
to their recommendations are an integral part of the internal control let-
ters.
wa city was
ificate
cial Reporting awarded fortsacomprehensiveoan u 11evement financialoreport for the Fiscal
Excellence in Finan -
Years Ended June 30, 1985 and 1986. 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 submit-
ting it to the Government Finance Officers Association to determine its
eligibility for another certificate.
the new
The Annual Financial Report sports a new look this year with the unveiling of
results from City
its gproducton ion onrthe new microcompu. The excellent ternand utheJtlaser'ete report
in the Word Processing Center.
Printer
This document represents the culmination of efforts by the Department of
j Finance, primarily the Accounting and Reporting Division, and 1,079 hours of
audit and report review staff time by McGladrey Hendrickson &
McGladrey's hours show a 4.4% increase over the 1,034 hours
year's audit as many changes in the auditing and reporting requirementshave
been imposed on the Cit b put into last
the Governmental Accounting Standards OfficBoarde of Management and Budget and by
Representatives from McGladrey Hendrickson & Pullen will be at
meeting on January 11, 1987, to further discuss this report with you.
i your informal
bJ4/2
IPA 6
.1.
COMPREHENSIVE ANNUAL
FINANCIAL REPORT
CITY OF IOWA CITY, IOWA
FOR THE FISCAL YEAR ENDED JUNE 30, 1987
PREPARED BY:
DEPARTMENT OF FINANCE
ROSEMARY VITOSH, DIRECTOR
CITY OF IOWA CITY, IOWA
NOVEMBER 1981
�oaa�
icC 181987
MARIAN K. KARR
CITY CLERK (3)
1p s
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CITY OF IOWA CITY
Y
INTRODUCTORY SECTION
CITY OF IOWA CITY, IOWA
_ Table of Contents
June 30, 1987
Page
INTRODUCTORY SECTION
Table of contents.
Listing of city officials. .' ' ' ' .
Organization chart ' • • • • . . . , . . ' ' ' • • • • 1
4
w Letter of transmittal . . ' ' ' ' • • 5
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Independent auditors, report . , ,
o•
17
Combined ensheet,allBfund types and account groups.
fund balances expenditures
,
' .20
, all and changes in
trust funds. governmental fund types and
expendable
Combined statement ' revenue, expenditures
fund balances,
• .26
non -GAAP basis and changes in
budgeted funds - budget and actual, all
Combined statement of revenue, expenses and changes in
retained earnings/fund balances
•28
types and similar trust funds. all proprietary fund
Combined statement
of changes in financial position,
all proprietary fund t and
Notes
32
similar trust funds
to financial statements
.
. . . • . .
SUPPLEMENTARY INFORMATION
. . 34
37
Government Finance Officer's '
Achievement for Excellence AnsFinancon Certificate of
porting. ,
7
FINANCIAL SECTION
. ' • . 15
Independent auditors, report . , ,
GENERAL PURPOSE FINANCIAL STATEMENTS
balance
17
Combined ensheet,allBfund types and account groups.
fund balances expenditures
,
' .20
, all and changes in
trust funds. governmental fund types and
expendable
Combined statement ' revenue, expenditures
fund balances,
• .26
non -GAAP basis and changes in
budgeted funds - budget and actual, all
Combined statement of revenue, expenses and changes in
retained earnings/fund balances
•28
types and similar trust funds. all proprietary fund
Combined statement
of changes in financial position,
all proprietary fund t and
Notes
32
similar trust funds
to financial statements
.
. . . • . .
SUPPLEMENTARY INFORMATION
. . 34
37
Special Revenue Funds
Combining balance
sheet. ,
Combining statement of
in fund balances
revenue, expenditures and changes
Schedule
• . 71
of revenue, expenditures and changes in . . .
fund balance, non -GAAP basis
12
-
all budgeted special revenue fundsg. and actual,
Capital Projects Funds •
Combining balance sheet. .
Combining
14
statement of revenue, expenditures and changes
in fund balances .
Enterprise
78
Funds • • . .
Combining balance sheet.
79
Combining statement revenue, expenses and changes
in retained earnings
. 12
Coin inegs
tement
in
Schedule ofarevenuesf inancial
84
and'
fund balances, non -GAAP basis -
all budgeted
.86
and actual,
enterprise funds,
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CITY OF IOWA CITY, IOWA
Table of Contents
June 30, 1987
Internal Service Funds
Page
Combining balance sheet. 94
Combining statement of revenue, expenses and changes
in retained earnings. .95
Combined statement of changes in financial position. . . ,g6
Trust and Agency Funds
Combining balance sheet. , . 98
Combining balance sheet, all pension trust funds . 100
Combining statement of revenue, expenses and chgnges
in fund balances, all pension trust funds. . 101
Combining statement of changes in financial position,
all pension trust funds. . . .
Combining balance sheet, all expendable trust funds. .
Combining statement of revenue, expenditures and changes
in fund balances, all expendable trust funds .
Schedule of revenue, expenditures, and changes in
fund balances, non -GAAP basis - budget and actual,
all budgeted expendable trust funds. .
Combining statement of changes in assets and liabilities,
all agency funds . . . . . . . . . . . . .
STATISTICAL SECTION
Special assessment collections .
General governmental expenditures and transfers by function. .
General governmental revenues and transfers by source.
Property tax levies and collections. . .
Property tax rates - all overlapping governments .
Assessed and estimated actual value of taxable property. .
Property value, building permits and bank deposits .
Ratio of net general bonded debt to assessed value and
net bonded debt per capita . .
Computation of direct and overlapping debt . . . .
Computation of legal debt margin . . . . . . '
Ratio of annual debt service expenditures for general
bonded debt to total general expenditures.
Summary of bonded indebtedness, debt service requirements
to maturity (including interest) . . .
Schedule of revenue bond coverage. . . . . . . . . ' '
Demographic statistics . . . . . . . ' ' ' ' '
Miscellaneous statistical data . . . . . . . . . ' ' ' '
Principal taxpayers and employers. . . . . . . . . '
Comparative summary of net assets available for benefits and
total actuarial present value of credited projected benefits
- pension trust funds.
Comparative summary of unfunded actuarial present value of
credited projected benefits and annual active member payroll
- pension trust funds. .
Comparative summary of revenues by source - pension trust funds
Comparative summary of expenses by type - pension trust funds.
-2-
. 103
. 104
. 106
108
112
115
116
118
120
122
122
124
. 126
. 127
. 127
. 128
129
130
131
132
134
135
135
136
136
/bas -
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CITY OF IOWA CITY, IOWA
Table of Contents
June 30, 1987
Paae
Comparative summary of actuarial pension benefit obligation
values and percentage covered by net assets available for
benefits - pension trust funds . . . . . . .
137
Investment performance measurements - pension trust funds. . . .
139
Schedule of insurance in force . . . . . . . . . . . . . . . . .
140
Parkingrates . . . . . . . . . . . . . . . . . . . . . . . . . .
142
COMPLIANCE SECTION
Independent auditors' report on schedule of federal and
state financial assistance programs. . . . . . . . . . .
143
Schedule of federal and state financial assistance programs.
145
Independent auditors' report on internal accounting control
with respect to general purpose financial statements . .
147
Independent auditors' report on internal accounting control
and administrative controls with respect to federal financial
assistance programs. . . . . . .
153
Independent auditors' report on compliance with respect to
general purpose financial statements . . . .
161
Independent auditors' report on compliance with respect to
federal financial assistance programs . . . . . . . . . . . . .
167
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CITY OF IOWA CITY, IOWA
LISTING OF CITY OFFICIALS
June 30, 1987
ELECTED OFFICIALS
Mayor.
Council -member
.William J. Ambrisco
. . .
Council -member . . .
. . . . . . . . . . . . . . .Larry Baker
. . . . . . . . . . . . . . . . . .Kate E. Dickson
Council -member . . .
. . . . . . . . . . . . . A. John McDonald
Council -member
George A. Strait
Council -member . . .
. . . . . . . . . .... . Darrel G. Courtney
Council -member . . .
. . . . . . . . . . . . . . . . . .Ernest V. Zuber
Airport Manager. . . . . . . . . . . . . .
APPOINTED OFFICIALS
Senior Center Coordinator. . . . . . . . . .
. .Bette F. Meisel
City Manager . . . .
. . . . . . . . . . . . . . . . .Stephen J. Atkins
City Clerk
Marian K. Karr
City Attorney . . . .
. . . . . . . . . . . . . . . .Terrence L. Timmins
DEPARTMENT DIRECTORS
Assistant City Manager . . . . . . . . . .
. .Dale E. Melling `
Director of Finance.
. Rosemary L. Vitosh
Director of Planning & Program Development . .
. . .Donald D. Schmeiser
Library Director . . . . . . . . .. . . . .
Fire Chief
. . Lauretta P. Eggers
. . . . . . .
Chief of Police . . . . . . . . . . . . . . . .
.Larry D. Donner
. . . . Harvey D. Miller
Transit Manager.
.John A. Lundell
Airport Manager. . . . . . . . . . . . . .
_
. ... . . Fred W. Zehr
Senior Center Coordinator. . . . . . . . . .
. .Bette F. Meisel
Director of Housing and Inspection Services. .
. . .Douglas W. Boothroy
Director of Public Works . . . . . . . . .
. . Charles J. Schmadeke —'
Parks and Recreation Director.
Terry G. Trueblood
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\I BOARAT
A
PITY OHNISSIONS
CIEH.Y
CITY
ATIVHNEY
ORGANIZATIONAL STRUCTURE
FOR IOWA CITY'S GOVERNMENT
O
LI IINANY 1 1
DI RECTUM
1\\\1,✓^`1'I1111
AI"PORT '
1
MANAGER
I
LIBRARY BOARD
"
OF TRUSTEES
AIRIART
FINANCE DIRECCOR
CUWLSSION
OCICE CIIIET
-Adwinietnation
-Adminiatw(ion
-Accounting
-fniminat Dwvtigatie'l
-rulchming
-I'atAot
-11eaewg
NIAYgt e
-Vecoads 6 ldenti6icatio,
-Wold Pnoe¢sAing
CI TT L0.NCIL
•Anima[ Contnat
-Cam,. mg Goads
HOUSING A INSPEf[IEII
CITIZENS OF IOWA CITY
t531S(MC Cl[O MANAGER
DIREC[OR
•R+oadband Tetfee nications
-Ciuit Right!
-AdMinis fnntion
-EnengB Coasenuation
-Mlitding Inlpeetio'l
-EquilmeR( 14aintemince
-Assisted Ilnu(ang
CITY
•I'eanmlet Admini.efnaUml
-Alum iog Inspection
MANAGER
[RANRI( MANAGER
AMU i RECREACION
DIRLC(OR
-TAamit OpeAationS
-MMinisfnation
-Punbs
-Re"fati on
-Gout. Bu(tding!
-Tonestng
PUBLIC NORM
-remet¢nl J
DIR[C(OR
TIRE (HIES
E Y
'Administration
-Hie
-lire Suplmession
P[MXING A
•f'oileming
ELECTED OFFICIALS
`
-(in¢ pn¢vention
SENIOR CENtIR
COORDINACOR
PROGRA
DEVECOPMFN[
-Streets/Sanitation
(MAYOR ELECTED BY COINKIL)
-TAa66Ec EngineeAing
Senior Center
-Admin(s fna tion
-Flttation CoatlOf
APIYIINTEII by L'OONCIL A MAYOR
Opw Ciom
-IltbaR rtn"AIR
-WateA
I)INECTOR/MAIIAGEN F.MPLOYY.II
•fUBG rnognnms
BY BOARD ON COHMIT•91011
•JfONi P1ogAam!
DEPARCNEN[/AOMINISIRA[IUE READ
APPOIN[ED BR CIRO MANAGER
-Ulm Lif ing Rldgef Iblitf
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CITY OF IOWA CITY
r,.,. C•, �a i,� 6
A or —
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- CITY
OF
IOWA
CITY
CIVIC CENTER 410 E.
WASHINGTON ST
IOWA CITY. IOWA 52240
(319) 356-5CCO
October 30, 1987
Honorable Mayor, Members of the
City Council and City Manger
City of Iowa City, Iowa
The Comprehensive Annual Financial Report of the City of Iowa City, Iowa,
_. for the fiscal year ended June 30, 1987, is submitted herewith in accor-
dance 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 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 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.
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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 thirteen basic departments which are administered by the City
Manager and subject to the control of the City Council:
Administration Mousing & Inspection Planning & Program
Airport Services Development
City Clerk Library Police
Finance Mass Transportation Public Works
Fire Parks & Recreation Senior Center
This report does not include financial statements of the Iowa City
Community School District or the Iowa City Conference Board which 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 Founda-
tion, 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 Statements. 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 $23,000, while employers contribute
5.75%. There is no allocation of unfunded liability to any municipal
entity and, upon the retirement 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 $1,451,791 as of June 30, 1987, as
compared to $1,542,762 as of June 30, 1986.
General Governmental Financial Analysis
Revenue and transfers for general governmental functions (General Fund,
Special Revenue Funds, and Debt Service Fund) totaled $20,927,665 in _
fiscal year 1987, an increase of 11.0% from 1986. Property taxes
u � -8-
.1.
relatedaccounted
es is
to ar 52.07ofthe increase total.
tort liabilitye I levn
insurance premium costs , and the surplus balance in the pExpen ableroperty xTrust
Funds permitted a one year redirection of the y due to increased
General Fund. A 71.9% increase in Property tax income to the
$150,000 repayment of the Urban Development nAction eous eGrant resulted from
the
theange nathe
feemethod
of structuresunti� for special assessments.
and from
in t increase d charges for service', fiscal A change
11 the change Year 1rea resulted in an
contributions. �Theh64%uinc which
in use Tofnmones increased by 27.2% due
accounts for police and fire pension
primarily from interest earned on bond proceeds. Y and property resulted
A comparative summary of the revenue and transfers is as follows;
Property taxes
Licenses and permits
Intergovernmental revenue
Charges for services
Fines and forfeitures
Use of money and property
Miscellaneous
Transfers
Total
Percent
1987 1986 Change Over
fUnderl� Prior Yp,
510,888,383
332,213
3,854,607
1,641,669
345,455
424,063
581,209
20.86 6666
$ 9,865,284
310,341
4,000,077
1,472,637
365,709
258,539
338,044
2516.8 9 604
Assessed valuation of�
the precedin 51+284,010,028 represents
g year.
10.4%
7.1
(3.6)
11.5
(5.5)
64.0
71.9
2-2
11._0%
an increase of 3.5% over
Current tax collections were 97.7% of the tax lev
Prior year. Delinquent tax collections were more thanoIast5%
ar. The
ratio of total collections from the
levy was 99.8% which is up f and delinquent) for the current tax
property tax levy by purpose a e% asfollowsom the prior year. Allocations of
value); (amounts
per 51,000/assessed
Pu_no_ se
General fund
Tort liability
- General obligation debt
Pensions and retirement
Transit
Total tax rate
1987
$ 7.108
.835
1.892
. 415
359
510 60�
1986
$ 7.510
.370
1.952
.693
_360
Expenditures and transfers for general governmental functions
Fund, Special Revenue Funds, and Debt Service Fund) totaled $20,645
fiscal year 1987, an increase of 7.5% over 1986. Due to (General
fund which accounts for the Cit +416 in
contributions, fire experienced a 29 liceinc and
irand a change in the
9.9% increase in total expenditures pension and retirement
Police experie d
over 1986. A 4e inc
1,37, increase debt
-9- /8 � s
service expenditures
obligation bond indebtedness
is a result of a 72.09, increase in the City's general ~
since June
30, 1985, The Urban Development
Action Grant fund processed a $100,000 Community Economic Betterment Act
grant this year.
A comparative summary
of expenditures and transfers is as
follows:
Percent
Change Over
1987 1986 jUnderl Prior Year
General
Police
$ 4,388,307 $ 4,261,394
3,0%
Fire
2,571,726 2,340,183
9,9
Transportation
2,020,871 1,565,839
1,888,190 1,946,445
29,1 —'
(3.0)
Leisure and Cultural
Community Development
2,993,953 3,126,809
(4.3)
Block Grant
Other Shared Revenue
775,607 802,524
(3.4) ~
_.
and Grants 180,672 163,533
Federal Revenue Sharing 764
10.5 _
697
i Debt Service 2,733,690 1,934,725
Urban Development Action
9.6
41.3 `
Grant
Transfers
100,000
2.991.636 3.061.493
100.0
2,3)
Total
520.645.416 519.203.642—
Enterprise Funds
The City currently operates seven enterprise funds. These
from the proceeds of user charges. The
funds operate —
operating income (loss)
following tabulations list the
for fiscal year 1987 compared to 1986: _..
Enterprise Funds
1987 1986
Parking
Pollution Control
$ 692,526 $ 510,209
(295,847) 194,528
Water
Sanitation
343,147 (172,336)
Airport
77,030 (57,709)
(78,577) (116,989)
Housing Authority
195,021 60,647
Mass Transportation
(1,315,602) (1,534,828)
Debt Administration
The ratio of net bonded
° bonded debt per capita
debt to assessed valuation and the
amount of net
to municipal management,
are useful indicators of the City's
citizens, and investors. These
debt position
the City as of June 30,
1987 were as follows:
statistics for —
Ratio of Net Bonded
Net Bonded _
Debt to Assessed
Amount
Debt Per
Value
Capita
Net bonded debt $17,826,610 .0139 to 1
s
--'
$352.95
-10-
/ ���
Outstanding general obligation bonds as of June 30, 1987 totaled
$18,055,000 of which $1,494,688 issued for sewer improvements will be
funded by the Sewer General Obligation Bonds Refunding Trust Fund and
$1,249,292 issued for water improvements will be funded by the water Fund.
Tables in the statistical section of this report present more detailed
information about the debt position of the City.
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 investment risks. The City's ratings as of June 30,
1987 were as follows:
Moody's Investors Services, Inc.:
General obligation bonds Aaa
Parking revenue bonds Baal
_ Sewer revenue bonds A
Capital Projects Funds
During the fiscal year ended June 30, 1987, $3,607,886 was expended for
capital projects of which $664,878 was capitalized in the General Fixed
Assets City's Policy tofrnot capitalizing i nfrastructurepfixedzassetsording to the
General Fixed Assets
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 proprietary funds. As of June 30, 1987, the general fixed assets
of the City amounted to $14,044,951 compared to $13,508,136 as of June 30,
1986. This amount represents the original cost of the assets and is
I
considerably
ofnotcapia
capitalizing the costs r nC
costeir present
of infrastructure fixfollows
edassets, such policy
streets, sidewalks,bridges, storm sewers, lighting systems and individual
assets with a cost of less than $500. Depreciation of general fixed
_ assets is not recognized in the City's accounting system.
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 invest -
merits separately. This pooled concept provides for greater investment
earnings which are then allocated on a systematic basis.
For the year ended June 30, 1987, the City earned $4,864,491 from all
investments, up $2,968,526 from the prior year. The following tabulation
— shows how this was allocated for the fiscal years 1987 and 1986.
0
1987 1986
Investment Investment
Fund Type Earnings Earnings
Governmental $ 547,363 S 284,990
Proprietary 2,361,561 578,248
Fiduciary 1.955.567 1.032.727
Totals 54.864.491 31.895.965
Independent Audit
The State Code requires an annual audit of the financial condition and
financial 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 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 proprietary fund types and similar trust funds
for the year ended June 30, 1987. 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 that of
the preceding year after restatement for the change in the method of
accounting for special assessments as described in Note 2 to the financial
statements.
Report Format
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 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 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, 1986.
4.,, i -12-
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 accounting principles and applicable legal require-
ments.
A Certificate of Achievement is valid for a period of one year only. We
believe our current report continues to meet the Certificate of Achieve-
ment Program requirements and we are submitting it to GFOA to determine
its eligibility for another certificate.
PrOsPects for the Future
The local economy remains strong and is well insulated from the recent
economic downswing experienced state-wide in agriculture and the agricul-
ture -related industries. Iowa City's economic strength is based upon
education,
medical
llargeste5and emp employer hieovernu18,000� employees nandrsthe
University of Iowa Hospitals and Clinics is the largest University -owned
teaching medical center in the United States. In addition to the
University, the City has a significant number of private employers which
have a history of providing stable and increasing employment in the
community.
MIowa City has continued to maintain a consistently low unemployment rate
as compared to the State of Iowa and the United States. In September,
1987, Iowa City's jobless rate of 1.8% was reported as being the lowest
among the nation's metropolitan areas. While property assessed valuations
City have stabilized and declined in mast Iowa cities in recent years, Iowa
has
alongwiththeconsistently
unem unemployment i
ntrate, erienced modest
increases
well being.
Sewer revenue bonds were sold in July, 1986, to finance the Wastewater
Treatment Facility Project. The $34 million project includes the rehabil-
itation and expansion of the existing sewer plant along with the construc.
tion of a satellite treatment facility located south of Iowa City. Debt
service on the bonds will be paid totally from user feesThe project is
dfuture growth. esigned to meet current needs and effluent standards while providing for
undertaken This it
by the City and it ishe rnotablepthat therCCity e illrbeeablevto
o. complete the project using 100% local funding resources.
Reductions in federal and state monies have resulted in a growing
dependence
aon i property
revenues
city
eueentincreses mosuser feesadditionalrvenes will beneeded in
n spite
the future to offset the loss of those monies.
local option sales tax on October 6, 1981. Voters narrowly defeated n
Iowa City is well below the maximum property tax levy rate. Therefore,
the additional needed revenues could be generated through a larger than
average property tax increase. The financial decisions to be made for the
fiscal year beginning July 1, 1988, will definitely impact the City's
future`
y�package of services. This is probably the greatest challenge now
eft A e_, t Y.
-13-
.o•
W
facing the City of Iowa City. I am confident that the City's prudent
management of its resources will continue far into the future.
Acknowledgements
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 want to
especially recognize the extraordinary contributions of Monica Bieri,
Controller; Cathy Yoder, Sr. Accountant; and Regina Schreiber, Accountant.
These people actually prepare the report and work closely with the
auditors to achieve the required disclosures and format. The final
document's professional quality is attributable to the fine efforts of the
Word Processing Center, in particular Beverly Jensen, and the Central
Procurement and Services print shop operation.
A special note of appreciation is extended to Patricia Westercamp for her
efforts in the design of the new City logo which decorates the cover of
this year's report.
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,
Rosemaosh, C
Director of Finance
)K
14-
,1070
.a
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of
Iowa City, Iowa
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
June 30, 1986
A Certificate of Achlevement'for Excellence in Financial
Reporting is presented by the Government Finance Officers
Association of the United States and Canada to
governmental units and public employee retirement
systems whose comprehensive annual financial
reports (CAFR's) are Judged to substantially
conform to program standards.
,Mc[ orrkr Az
W� UYpAi'rn3•J
President
IL E
ntar 0 A
d.
Executive Director
.- µ,j log so
i
i
i
Certificate of
Achievement
for Excellence
in Financial
Reporting
Presented to
City of
Iowa City, Iowa
For its Comprehensive Annual
Financial Report
for the Fiscal Year Ended
June 30, 1986
A Certificate of Achlevement'for Excellence in Financial
Reporting is presented by the Government Finance Officers
Association of the United States and Canada to
governmental units and public employee retirement
systems whose comprehensive annual financial
reports (CAFR's) are Judged to substantially
conform to program standards.
,Mc[ orrkr Az
W� UYpAi'rn3•J
President
IL E
ntar 0 A
d.
Executive Director
.- µ,j log so
i
CITY OF IOWA CITY
A F%,y� } E 16
/ga or —
�a
' FINANCIAL SECTION
Ip
ID
to
i%
t�
.u•
0
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, as of and for the year ended June 30, 1987, 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, 1987, 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 after restatement for the change,
with which we concur, in the method of accounting for special assessments as
described in Note 2 to the financial statements.
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.
The other data included in the report, designated as the statistical
section in the table of contents of this report, was not audited by us and
accordingly, we express no opinion on it.
Ca f -C.lt w' *Qa �
Iowa City, Iowa
October 21, 1987
—17—
/SSS
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M
CITY OF10WA CITY
1ar
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a
CITY OF IOWA CITY, IOWA
COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUPS
June 30, 1987
(Page 1 of 3)
�• � t�5S1
20-
/8;s
Governmental
Fund Types
ASSETS
General
Special
Revenue
Debt
Service
Capital
_Projects
Cash $
Investments
Receivables:
1,413
3,148,313
EE
1,182,799
- -
159,598
$
4,953,540
Property taxes
Accounts and
9,531,442
- -
2,839,518
unbilled usage
426,240
Interest
Special assessments
2,232
614,990
5,848
2,963
11,272
Action grant loan
Due from other funds
373,604
2,076,978
28,596
Due from other
193,781
governments
Inventories
8,149
218,909
85,922
Bond issuance costs
Property and equipment:
Land
Buildings and
structures
Improvements other
than buildings
Equipment and
vehicles
Accumulated
depreciation
Construction
in progress
Amount available in
Debt Service Fund
Amount to be provided
for the payment of
general long-term
debt
Total assets 14.106
38
3.513.130-3, 00 0
5 15
(continued)
�• � t�5S1
20-
/8;s
.o•
a
Proprietary
Fund 7yoPc
Fiduciary
Fun— d Types
Account
Grou
Enterprise
Internal
Service
Trust and
Agency
GeneralGeneral
Fixed
s
Long -Term
Total
(Memorandum
5 2 205
5
—�
As=
t
Own1v_)_
j ... 40,739,091
666,888
$
16,469,099
5
$
_
$ 3,618
67,319,328
-
797,807
840 5376
179
13,168,767
371,503
3,,547
61+7,116
_
1,367,214
—
1,014,481
30,587
131,122
66,409
614,990
2,076,978
384,987
-
824,099
171,307
— 138,037
431,098
21+174
719,141
602,405
2,842,210138,037
45,462
20+987+946
563,355
3,078,370
5,966,042
22,784,105
41,365
7,388,817
28,940,118
3,074,713
2,924,947
492+224
23,317,694
(13,323,090) (1,626,584)
2,453,147
-
8,452,807
4,080,030
(14+945+674)
632,393
4,712,423
123,390
123,390
_J6,652,627 16,652 627
83 S3']8�7 77 18.065 6 14.044 I
�L�ZZ4�Q6 4 5
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/g42S
9.
4
CITY OF IOWA CITY, IOWA
COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUPS
June 30, 1987
(Page 2 of 3)
_22.
Governmental Fund T es
LIABILITIES AND
MUNICIPAL EQUITY
General
Special
Revenue
Deb
Debt
Service
Capital
Projects
Liabilities:
Excess of out-
standing checks
over bank balance E
391,966
E
$
$
Accounts payable
Contracts
836,239
31,370
71,766
payable
Accrued
56,082
6,435
301,930
liabilities
Due to other
470,704
14,861
6,668
funds
Due to other
82,652
156,988
63,013
184,713
governments
1,646
Due to agency
Deferred revenue
9,681,186
2079,883
,
2,755,622
Interest payable
- -
15,054
Deferred compensation
payable
Deposits
277,035
Matured bonds
45,000
Revenue bonds payable
Housing authority
notes
Obligation under
capital lease
General obligation
bonds
Special assessment
bonds
Total liabilities 11.197.510
52.289.537
g g 8
(continued)
_22.
0V t�
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Fiduciary
_Proprietary
Fund Types
Fund Types
Account
Groups
Internal
Trust and
General
Fixed
General
Long -Term
Total
(Memorandum
Enterprise
Service
Agency
Assets
Debt
Only)
$
155,995
$
44,689
$
48,672
$
$
$ 391,966
1,188,731
617,271
981,718
445,674
72,327
20,685
1,193,873
2,224,792
291,678
810
44,245
- -
824,099
208,054
149,977
333,470
777,114
- -
209,700
333,470
2,222,668
35,780
15,443,782
- -
2,273,502
171,571
_ _
869,046
- -
869,046
_
- -
448,606
43,427,107
1,361,000
_ _
45,000
44,788,107
3,004,494
"
- -
3,004,494
156,124
156,124
1,249,292
1,494,688
15,266,020
18,010,000
160,000
160,000
51,943.181
S11Z,B26X70S
017
L91 313 137
0V t�
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r
CITY OF IOWA CITY, IOWA
COMBINED BALANCE SHEET
ALL FUND TYPES AND ACCOUNT GROUPS
June 30, 1987
(Page 3 of 3)
Governmental Fund Types
LIABILITIES AND Special Debt Capital
MUNICIPAL EQUITY General Revenue Service Pro.lects
Total liabilities
forwarded $11.797.510 $2.289.537 $2.878,689 $ 565.077
Municipal equity:
Contributed
capital $ $ $ $
Investment in
general fixed
assets
Retained earnings:
Bond ordinance
reserves
Unreserved
Fund balance:
Reserved for:
Encumbrances 91,316 10,191 2,974,068
Long term �!
receivables 168,500
Employee
retirement
commitments
Johnson County
Council of
Governments
Perpetual Care
Unreserved:
Designated for:
Gifts for
specific
purposes 37,595
Future improve-
ments 501,435 1,705,370 -
Health
insurance 119,471
Undesignated 1,390.556 1.213,402 123.390
Total munici-
pal equity S 2.308,873 $1.223.593 $ 123,390 $4.679.438
Total liabili-
ties and
municipal
equity 514.106.383��1 53,002.079 55.244.515
See Notes to Financial Statements.
... • �+ � 314
-24-
/ff�5 -
o•
Fiduciary
Proprietary Fund Types Fund TvoesAccount Groups
General General Total
Internal Trust and Fixed Long -Term (Memorandum
Enterprise Service Agency Assets Debt Only)
—~ $51.943,781 117,826 5 4,984,700 E $16,776,017 S 91,353,137
$20,999,163 $1,233,866 $ - - E $ $ 22,233,029
i
— - - 14,044,951 14,044,951
7,069,857 7,069,857
f 3,111,367 1,836,287 4' 947,654
I
r
3,075,575
—I 168,500
13,101,530 13,101,530
44,117 44,117
80,435 80,435
I
37,595
2,206,805
- 119,471
(145,519) 2,581,829
$31,180,387 $3,070,153 $13,080,563 $14,044,951 $ $69,711,348
583.124.168 S-18,065,263 514.044.951 6 6 0 4 85
d " A
' -25-
/V ��
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a
CITY OF IOWA CITY, IOWA
COMBINED STATEMENT OF REVENUEIN FUND , EXPENDITURES
AND ALL GOVERNMENTAL FUND TYPES AND EXPENDABLE TRUST FUNDS
Year Ended June 30, 1987
REVENUE
Property taxes
Licenses and permits
Intergovernmental
Charges for services and use of property
Fines and forfeitures
Use of money and property
Miscellaneous
Total revenue
EXPENDITURES
Current operating:
Community protection
Human development
Home and community environment
Policy and administration
Capital outlay
Debt service:
Principal
Interest
Total expenditures
Revenue over (under) expenditures
OTHER FINANCING SOURCES (USES)
Operating transfers:
From other funds
(To) other funds
Proceeds from general obligation bonds
Total other financing sources (uses)
Revenue and other financing sources
over (under) expenditures and other
financing uses
FUND BALANCES, BEGINNING
as restated (Note 2)
Equity transfer (out)
FUND BALANCES (DEFICIT), ENDING
See Notes to Financial Statements.
-26-
Governmental
General Special
Revenue
$ 8,868,083
332,213
909,214
1,641,609
345,455
131,984
398.063
12 626 621
2,945,393
60
52,473
183.146
3 181 072
$ 4,869,507 $
2,702,979
2,451,956 319,956
3,173,064 129,861
540,926 607,226
91,445
X33 170
$13,863 047 _O57 043
1 236,426) 2,124,029
S 2,711,196 $ 25,644
(1,064,255) (11927,381) _
1 646 941 1�)
$ 410,515 S 222,292
1,898,358 1,001,301
.o•
Fund Tyoes
DebtTotal
Capital Expendable (Memorandum
Service Projects Trusts Only)
$2,020,300 $ - - $ 445,171 $11,333,554
1,170,638
63,368
5,332213
088,613
93,702
1,735,371
239,606 138,228
190,539
455
752,830
2 259 906 S 1.356.866I
3 623
644832
520.232.868
806 403
$ $ $ 39,215 $ 4,908,722
2,702,979
143,883 2,915,795
889 3,353814
3,607,886 50,
435 4,756,473
1,709,623 1,801,068
1.024.067 68.7 _ 1.225.959
12,733,690 ; 3.607.866 403 144 5.21.664.810
(473,784) U 2.249.020) 1 403,259 1 431,942)
E 123,226 $ 266,224 $ 82,805 $ 3,209,095
(238,150) (637,653) (3,867,439)
1 3 2 6 ; 5.246,338 55 8 8)L4,559,914 258
E (350,558) $ 2,997,312 $(151,589) $ 3,127,972
473,948 1,682,126 288,095 5,343,828
(166,916) (166.916)
5 4.67 .4 8 S 4112) 8.304.884
-27-
/Sas
o'
CITY OF IOWA CITY, IOWA
COMBINED STATEMENT OF REVENUE, EXPENDITURES AND CHANGES
IN FUND BALANCES, N0N-GAAp BASIS
BUDGET AND ACTUAL
ALL BUDGETED FUNDS
Year Ended June 30, 1987
(Page 1 of 2)
REVENUE
Property taxes
Licenses and permits
Intergovernmental
Charges for services
Fines and forfeitures
Use of money and property
Miscellaneous
Total revenue
EXPENDITURES
Current operating:
Community protection
Human development
Home and community environment
Policy and administration
Capital outlay
Debt service:
Principal
Interest
Total expenditures
OTHER FINANCING SOURCES (USES)
Operating transfers:
From other funds
(To) other funds
Proceeds to establish bond
ordinance reserves and refund
debt
Total other financing
sources (uses)
Revenue and other financing
sources over (under)
expenditures and other
financing uses
FUND BALANCES, BEGINNING
FUND BALANCES (DEFICIT), ENDING
General Fund
Variance
Favorable
Budget
Actual (Unfavorable)
$ 8,827,680 f 8,807,173 $ (20,507)
321,275 333,143 11,868
865 148 58,316
1,594,234 1,595,610
360,093 1,376 e�
109,186 393,818 (14,774)
(
_153.651 187.057 33406)
12 231 267 12 285 584 54 317 '
�i
$ 4,998,185 E 4,899,728 $ 98,457
2,613,185 2,512,436 100,749
2,664,910 2,442,847 222,063
2,981,539 2,746,442 235,097
659,902 636,834 23,068 -
30,337 36,024 (5,687
3.938 11982 8 044)
13 951 996 13 286 293 1-665.703
$ 2,970,435 $ 2,796,436 $(113,999)
(1,040,853) (1,039,835) 1,018
1,929,582 L1 756 601 1(172,981)
$ 208,853 $ 755,892
1.514.804 _1.514.804
—� U 2.270 6 6
-28-
5709
/8R s
Special Revenue Funds Debt service Fund
Variance Variance
Actual (U
Budget Favorable Favorable
nfavorable) Budget Actual (Unfavorable)
3,009,979 2,895,331
65
11,500 46,665
S 3.021.479 5.530
S 2.947.591
$ $2,003,195 $1,997,972
(114,648)
65
35,165 51,000 236,971
5.530
73 888) 2 054 195 2 234 943
S S
$
780,167 247,284 532,883
700 764 (64)
303,539 617,623 (314,084)
S 1.084.406 S 865.671 218 35
S - - $ 7,098 $ 7,098
(2,097,045) (1,927,381) 169,664
6
2,025,000 1,920,000
1.212.999 1.190.482
3 237 999 $3,110 488
$ 685,778 $ 614,803
5(2,097,045) 5(1.920.283) 1 176,762 1 685,778 1 614,803
$ (5,223)
185,971
180 748
S --
(6)
105,000
22.517
1127,511
$(70,975)
1(70,975)
S (159,972) $ 161,637 LJUM $ (498,026) $ (260,742) 5237.284
715.110 715.110 - 420.340 _ 420.340
3 ) 98
-29- /864 S
M
CITY OF IOWA CITY, IOWA
COMBINED STATEMENT OF REVENUE, EXPENDITURES AND CHANGES
IN FUND BALANCES, NON -GAAP BASIS
BUDGET AND ACTUAL
ALL BUDGETED FUNDS
Year Ended June 30, 1987
(Page 2 of 2)
REVENUE
Property taxes
Licenses and permits
Intergovernmental
Charges for services
Fines and forfeitures
Use of money and property
Miscellaneous
Total revenue
EXPENDITURES
Current operating:
Community protection
Human development
Home and community environment
Policy and administration
Capital outlay
Debt service:
Principal
Interest
Total expenditures
OTHER FINANCING SOURCES (USES)
Operating transfers:
From other funds
(To) other funds
Proceeds to establish bond
ordinance reserves and refund
debt
Total other financing
sources (uses)
Revenue and other financing
sources over (under)
expenditures and other
financing uses
FUND BALANCES, BEGINNING
FUND BALANCES (DEFICIT), ENDING
See Notes to Financial Statements.
r
Enterprise Funds
Variance
Favorable
Budget
Actual (Unfavorable)
200 238 38
288,258 426,788 138,530
5,569,700 6,564,402 994,702
190,000 185,191 (4,809)
2,577,802 2,282,741 (295,061)
887 967 (17,
8,697,847 9 553 327 815,480920)
--
7,056,079 6,407,572 648,507
272,245 221,340 50,905
60,000 60,000
1.751,934 1.749 886_ 2,048
9 140 258 8 438 798 701,460
$ 3,807,543 $ 2,446;085 $(1,361,458)
(4,378,052) (2,850,201) 1,527,851
_3.672.550 5.897 483 —2,224,933
L3,102,041 A 5,493,367 2,391,326
$ 2,659,630 $ 6,567,896 3 8 66
3.986 0444 3,986.044
S10 40
-30-
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V'
Expendable Trust Funds Total
Variance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)
$ 438,917 $ 440,670 $ 1,753 $11,269,792 $11,245,815 $ (23,977)
321,475 333,381 11,906
113,246 57,043 (56,203) 4,276,631 4,302,626 25,995
90,630 88,278 (2,352) 7,254,564 8,248,355 993,791
180,616199,000 18,384 2,930,1004 2,85993 ,195 510 (19,583)
(70,909)
I - - - 13.623 13.623 225.538 260.177 34.639
i �; E 823.409 E 798.614 1(24,795) 526.828.197 521.780.059 S 951.862
$ 30,500 $ 19,447 $ 11,053 $ 5,028,685 $ 4,919,175 $ 109,510
156,152 141,364 14,788 10,657,308 9,239,073 1,4185 2512436018,,749
235
69,000 49,459 19,541 3,051,239 2,796,665 254,574
i 434 (434) 1,235,686 1,476,231 (240,545)
145,000 145,000 2,260,337 2,161,024 99,313
58.698 52.454 6.244 3.027.569 3.004.804 22.765
S 459.350 E 408.158 51,192 $27.814.009 526,109.408 E 1.764.601
S 759,369 $ 958,947 $199,578 $ 8,223,125 $ 6,823,369 $(1,399,756)
(1,355,378) (1,349,488) 5,890 (8,871,328) (7,166,905) 1,704,423
1.721.267 1.721.267 5.393.817 7.618.750 2.224.933
E 1.125.258 $..1,330,726 $205,468 $ 4.745.614 $ 7.275.214 E 2.529.600
S 1,489,317 $ 1,721,182 $231365 $ 3,699,802 $ 8,945,865 S 5.246.063
833.841 833.841 7.470.139 7.470.139
`U 5 LL3jLM11.169.941 6 0
S r / filar
.1.
M
CITY OF IOWA CITY, IOWA
COMBINED STATEMENT OF REVENUE, EXPENSES AND CHANGES IN RETAINED
EARNINGS/FUND BALANCES,
ALL PROPRIETARYded
FUN
AND SIMILAR TRUST FUNDS
Year
Proprietary Fund Types
Internal
Enterprise Service
REVENUE:
$ - -
$
Intergovernmental
Charges for services and use of property
9,197,354
1,547,950
Interest
Contributions
123.072
140
Miscellaneous
$9,320,426
11.548.090
Total revenue
EXPENSES:
$ 3,427,686
$ 518,880
Personal services
P99,549
504,535
Commodities
3,159.575
129.644
Services and charges
$ 6,886,810
s1,153,059
1,211,018
353,547
Depreciation
Loss on abandoned capital improvement project
1
s ,604,900
2,728
11.506.606
Total expenses
Operating income (loss)
$ (382,302)
$ 41,484
NONOPERATING INCOME (EXPENSES):
Otdon isposal of fixed assets
33,416)
275,041
peraing
2,328,075
33,486
Interest income
I
(3.413,910)
Interest expense
Income (loss) before operating transfers
$(1,226,512)
1 14,9
OPERATING TRANSFERS IN (OUT), NET
663.801
$ (562,711)
$ 74,970
Net income (loss)
Items acquired by contributed capital that
reduces contributed capital:
100,601
Depreciation
Loss on abandoned capital improvement project
1,283,920
RETAINED EARNINGS/FUND BALANCES, BEGINNING
9.359.414
1,761,317
RETAINED EARNINGS/FUND BALANCES, ENDINGQ
181
1 85 36,287
See Notes to Financial Statements.
~J �� ` gal S
d:,..ps -32-
,o•
r
Fiduciary
Fund Types
Total
Pension
Non -Expendable
(Memorandum
Trusts
Trust
Only)
$ 79,347
$
$ 79,347
10,745,304
1,759,571
5,457
1,765,028
736,375
736,375
$ 2.575.293
5 457
123.212
.449.2
51366
S 503,655
$ - -
$ 4,450,221
- -
804,084
$ 503,655
- -
$ - -
3.289.219
$ 8,543,524
1,564,565
1.604.900
$ 503.655
$
$11.712.989
$ 2,071,638 $ 5,457 S 1,736,277
(33,416)
275,041
2,361,561
13.413.910)
$ 2,071,638 $ 5,457 $ 925,553
(5,457) 658.344
$ 2,071,638 $ - - $ 1,583,897
100,601
1,283,920
10.958.900 80.435 22.160.066
ULL
ZX a580;435 25.128,484
.1.
CITY OF IOWA CITY, IOWA
ITION
COMBINED
PROPRIETARYSTATEMENT
FUND TIYPPEESEANDNFINANCIAL S
SIMILAR TRUSTFUNDS
Year Ended June 30, 1987 Proprietary Fund Types -
FINANCIAL RESOURCES PROVIDED BY
Operations:
Net income (loss)
Items which did not (provide), or require
outlay of, cash and investments:
Depreciation
Amortization
LLoss on oss on disposal dofafixed assetspital ement project
(Increase) decrease in:
Accounts and accrued interest receivable
Due from other funds
Due from other governments
Inventories
Increase (decrease) in:
Accounts payable and accrued expenses
Due -to other funds
Due to other governments
Deferred revenue
Interest payable
Total financial resources provided by
operations
Other sources:
Contracts payable
Due to other governments
Deposits
Contributed capital
Proceeds from sale of bonds
Total financial resources provided
FINANCIAL RESOURCES APPLIED TO
Purchase of property and equipment
Bond issuance costs
Contracts payable
Due to other funds
Payment of bonds and notes
Total financial resources applied
Net increase in cash and investments
See Notes to Financial Statements.
-34-
Internal
Enterprise Service
(562,711) $ 74,970
1,211,018 353,547
41,691
1,604,900
33,416
(492,471) 9,896
443 21,989
(63,262)
(17,562) 21,096
(29,648) (9,423)
10,819
32,027
1.748.561
$ 3,532,451 $472,056
530,067
63,750
1,915
1,186,653 12,724
39 242.446
$44,557,284 488 4,780
$ 4,193,911 $375,919
122,400
137,150
1,151,667
2,610,065
$ 8,215.1 '35''7^^50o.919
6 4 0 0
f ?A S
.a•
O
Fiduciary Fund Types
Total
Pension Non -Expendable (Memorandum
Trusts Trust Only)
$2,071,638 $ - - $ 1,583,897
1,564,565
41,691
1,604,900
33,416
— (184,221) 1,717 (665,079)
_ 22,432
(63,262)
_ 3,534
_ 4,213 (29,318)
(1,054) 8,617
10,819
_ 32,027
�i 1.748.561
$1,891,630 $ 663 $ 5,896,800
530,067
63,750
1,915
1,199,377
—21242,44
1 891 630 663 546.934.357
S $ - - $ 4,569,830
122,400
137,150
1,151,667
2.610,066
8.591.113
35 -
/gas
la
NOTES TO
' 9 FINANCIAL STATEMENTS
►il
If
Is
/V qQs"
CITY OF IOWA CITY, IOWA
- NOTES TO FINANCIAL STATEMENTS
June 30, 1987
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 range of services to
citizens, including general government, public safety, 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 relationships, 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.
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 Assessor's Office also did
not meet the above criteria and is excluded from 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.
Description of Funds and Account Groups
These financial statements include all funds and account groups owned or ad-
ministered 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.
The City maintains its records on a modified cash basis of accounting under which
only cash receipts, cash disbursements 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 necessary, to prepare the accompanying
financial statements in accordance with generally accepted accounting principles.
f -37 Bas
.0
a
CITY OF IOWA CITY, IOWA
NOTES TO FINANCIAL STATEMENTS
June 30, 1987
The accounts of the City are organized on the basis of funds or account groups, each
of which if considered to be a separate accounting entity. Each fund or account
group is accounted for by providing a separate set of self -balancing accounts which
comprise its assets, liabilities, equity, revenue and expenditures or expenses, as
appropriate. The various funds and account groups are presented as follows:
GOVERNMENTAL FUND TYPES
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 general property taxes, charges for services,
fines and forfeitures, licenses and permits, and certain revenue from state and
federal sources. The expenditures of the General Fund primarily relate to general
administration, police and fire protection, streets and public buildings operation
and maintenance, and parks and recreation.
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 in this
Revenue and Grants include the Fund, the iFederaleRevenue Sharing Fund andment Block Grant nthe Urbathe nher Shared
Development
Action Grant Fund.
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.
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,
intthise category nincl de those
thethat
Bridge, financed
by andT Traffic sCo Control monies.
Constructi�funds
Construction Fund
and the Other Construction Fund.
PROPRIETARY FUND TYPES
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 recovered primarily through user charges, or
v
where the City has decided that periodic determination of revenues earned, expenses
incurred, and/or net income is appropriate for capital maintenance, public policy,
includeethecParkin, a ccountheiPollution ControlrFunds thehWateriFundenthepSanitation
Fund, the Airport Fund, the Housing Authority Fund and the Mass Transportation fund.
The Internal Service Funds are used to account for goods and services provided by
tments on a cost reimbursement
one
sdepartment
category are the Equipment basis. h
Maintenance Fund and Central e funds
inthis Fund.
-38-
V'
0
CITY OF IOWA CITY, IOWA
NOTES TO FINANCIAL STATEMENTS
June 30, 1981
FIDUCIARY FUND TYPES
The Trust and Agency Funds are used to account for assets held by the City in a
trustee or custodial capacity and include the following funds:
Pension Trust Funds
Fire Pension and Retirement Trust Fund
Police Pension and Retirement Trust Fund
Expendable Trust Funds
Employee Benefits Trust Fund
Johnson County Council of Governments Trust Fund
Water Revenue Bonds Funded Trust Fund
Sewer Revenue Bonds Funded Trust Fund
Sewer General Obligation Bonds Refunding Trust Fund
Non-Exoendable Trust Fund
i
Perpetual Care Fund
Aaenc_ y Funds
-- Project Green Fund
Mayor's Youth Employment Program Fund
Library Foundation Fund
Eldercraft Shoppe Fund
Employee Deferred Compensation Fund
ACCOUNT
The
General Fixed
iexceGroup
accounts for
eetrafixed
for portyand equipm sssocidwiththfunds. t operionsofpropretary
The
neral
rim Debt Account
otlong-term oGroup accounts oCity
aeigationand her debtt expected t be nancedfromgovernmentlfundtyps
Significant Accounting Policies
Basis of Accounting:'
modifiedThe
expendable trusts, �aand aagency funds. Under this methodlOfoaccounting,overnmentalfrevenueeis,
RevenueZacc uedtincludesopropertyitaxes, intergovernmentaliandlinte esteearnedlon
investments. Expenditures are recorded as liabilities as incurred, if measurable,
except for unmatured interest on general long-term debt.
-39-
/90?65001
CITY OF IOWA CITY, IOWA
NOTES TO FINANCIAL STATEMENTS
June 30, 1987
The accrual basis of accounting is used for all of the enterprise, internal
service, pension and nonexpendable trust funds. Under this method of accounting,
mrevenue is easurable andoexpen esized u arehrecognizedn9inptheod in per odhiich itn ur edi,sifabecomes
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. Substantially all City investment
activity is carried on by the City in an investment pool, except for those funds
required to maintain their investments separately. The earnings on the pooled
investments are allocated to the funds on a systematic basis.
All investments, except those in the Employee Deferred Compensation Fund, are
stated at cost or amortized cost. The investments in the Employee Deferred
Compensation Fund are carried at market value.
Receivables and Revenue Recognition:
Property taxes receivable are recognized at the time they are levied by the local
taxtheifiscalhyearyended June t30 f Johnson987 were5certifiedState of oon March erty 15, taxes levied
15, 1986basedon the
1985 assessed valuations establishing a lien date of June 30, 1986. Taxes are
payable in two installments, due September 30 and March 31, with a l%o 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.
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
receivabpermits, fines s in pandriforfeitures,fund tyfees ises recognized
ref nds, when
chargesearned.
Licenses
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:
v Inventories are recognized only
extent of affecting operations.
in, first -out) or market.
in those funds in which they are material to the
Inventories are carried at lower of cost (first-
-40-
4
- CITY OF IOWA CITY, IOWA
Property and Equipment:
NOTES TO FINANCIAL STATEMENTS
June 30, 1987
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 sewers 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 20-50 years
Other improvements 15-50 years
Vehicles 5-20 years
Other equipment 5-30 years
In the Mass Transportation Fund, the City restores to retained earnings the
-' depreciation on certain assets which have been acquired through federal grants, by
a corresponding reduction of the contributed capital. This application is limited
to thaththeserbusesion willnbehe buses auired breplaced by way of addiese itionalafederalrants as the funding anticipates
,
Property which is being acquired under lease purchase contracts has been capital-
ized in the financial statements in accordance with generally accepted accounting
principles.
Bond Issuance Costs and Discount:
Costs incurred byproprietary 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 the
discount being amortized over the term of the debt.
Compensated Absences:
Permanent City employees accumulate vacation and sick leave hours for subsequent
use aid
upon or for de death, payment ir retirement orpt
od(exceetirement or termination. If sick firefightersleave ) termh
ination, et talaccumulated
hours are paid at one-half of the then effective hourly rate for that employee or
the sick leave payout amount as of June 28, 1985, whichever is less. Employees
hired on or after June 29, 1985 are not eligible for payment of accumulated sick
leave upon termination, death or retirement.
For governmental fund types, the amount of accumulated unpaid vacation and sick
leave, which is payable from available resources, is recorded as a liability of
the respective fund and the remaining amount is recorded in the General Long -Term
-41- I V
CITY OF IOWA CITY, IOWA
NOTES TO FINANCIAL STATEMENTS
June 30, 1987
Debt Account Group. The vested amount of unpaid vacation and sick leave, of
fund. employees
proprietary fund type , is recorded as a liability of the a
ppropriate
Total Columns on Combined Statements:
The
col
mns he
indicate total tht uthey ere presentedeonly to facilstements itate financial analysis. Data in
in
these columns do not present financial position, results of operations uor changes
Neither nisasuchsdatancomparable mto awith
c nsolidation abecause iinterfund eliminations
have not been made in the aggregation of this data. ted 9 principles.
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,
and funds, internal service funds, capital
within the General Fund, Special Revenue pFundstand uExpendablendscTrust nFunds vwhich
are not required to adopt annual program budgets. This budget is adapted on or
before March 15 of each year to become effective July I and constitutes the City's
appropriation for each program and purpose specified therein until amended. The
adopted budget must include the following:
a. Expenditures/Expenses for each program:
Community Protection
Human Development
Home and.Community Environment
Policy and Administration
amountb The
c• Incomefromto be
raised
taxation
d• Transfers in and transfers out
The legal level of control (the level at which expenditures/expenses may n
legally exceed appropriations) is the program level for all funds combined ratherot
than at the individual fund level. It is permissible, therefore, to overspend the
budget within a particular fund for a particular program without overspending the
legal program budget for the City a
aggregate the expenditures of the bs a whole. It is necessary, therefore, to
types with the expudgeted activities within the governmental fund
enses of the budgeted activities within the enterprise funds
(except the Housing Authority Fund) on a
totals to program budgeted totals in ordergtomdem demonsbasis andtrate legalpa omplia�CeoW�th
budget. The City's budget for revenue focuses on the individual fund revenue
rather than on aggregated fund totals.
The City formally adopts budgets for several funds which are not required b
law to be included in the annual program budget
ate
adopted for the internal service funds and for the Annualgoperating budg is tare
tal
capior
tal projects funds a five
establishing the first year as the a nnuar C licapital
apit 1pr projects ovements fundsabudis getadopted,
o budgets are adopted and amended at the same time and in the same manner as the
City's annual program budget.
-42-
.o
CITY OF IOWA CITY, IOWA
NOTES TO FINANCIAL STATEMENTS
June 30, 1987
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/expense of unexpended unencum-
bered cash balances on hand at the end of the preceding fiscal year.
b. To permit the appropriation and expenditure/expense 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 are shown in the financial statement presentation. Individual amend-
ments were not material in relation to originally appropriated 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/expenses 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 prepara-
tion.
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. Expenditures that occurred as a
result of a prior year's encumbrance are not reflected in the budgetary statements
contained in this report.
Note 2. Change in Accounting for Special Assessments
The City has elected early implementation of the Governmental Accounting Standards
Board Statement No. 6 "Accounting and Financial Reporting for Special Assessments",
which establishes standards of accounting and financial reporting for capital
improvements and services financed by special assessments.
The effect of the change in the accounting was to retroactively increase the June
30, 1986, fund balance of the General Fund by $198,208, eliminate the Special
Assessments fund which had a fund balance of $3,208, and include the special
assessments bond liability of $195,000 in the General Long -Term Debt Account Group.
Note 3. Budget Versus Actual Comparisons
Unfavorable Expenditure and Transfer Out Variances
For the year ended June 30, 1987, none of the budgeted funds had an unfavorable
variance of actual expenditures and transfers out over budgeted expenditures and
transfers out.
• i ,` W n
'/0_ y A V �) ' -43-
CITY OF IOWA CITY, IOWA
NOTES TO FINANCIAL STATEMENTS
June 30, 1987
Budgetary Reporting Reconciliation
The City prepares its annual program budgets using a modified cash basis of account-
ing. For purposes of comparing actual financial data with the budget, the actual
information has been converted to the non -GAAP budgetary basis.
A reconciliation of the revenue and other financing sources over (under) expendi-
tures and other financing uses, budgetary (non -GAAP) basis with revenue and other
financing sources over (under) expenditures and other financing uses/net income
(loss), GAAP basis is as follows:
Special Debt
General Revenue Service Enterprise Expendable
Fund Funds Fund Funds Trust Funds
Revenue and other
financing sources
over (under)
expenditures and
other financing uses,
budgetary (non -GAAP)
basis
Reverse prior years
accruals
Revenue adjustments
Expenditure/expense
adjustments
Prior year
encumbrances
Encumbrances
Revenue and other
financing sources
over (under)
expenditures and
other financing
uses/net income,
GAAP basis, all
funds required to
adopt legal program
budgets
Activities which are
not required to
adopt legal program
o• budgets
Revenue and other
financing sources
over (under)
expenditures and
other financing
uses/net income,
GAAP basis
a
$ 755,892 f 161,637 $(260,742) $ 6,567,896 $ 1,721,182
8,806
(238,393)
(53,607) 133,011
(101,144)
748,101
213,521
86,858 1,075,432
124,797
(1,257,989)
(30,486)
(123,067) (3,426,112)
(2,025,846)
(52,801)
(6,194)
(107,696)
133.933
4.238
84.140
52
$ 335,942 $ 104,323 $(350,558) f 4,327,271 $ (280,959)
74,573 117,969 W - (5.016.008) 129.370
f 410.515 $ 222.292 $(350.558) �) $ (151.589)
-44- '��
O'
CITY OF IOWA CITY, IOWA
NOTES TO FINANCIAL STATEMENTS
June 30, 1987
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, 1987, to demonstrate legal compliance with the budget of the City as a whole.
Actual
Expenditures Variance
Amended and Favorable
Budget Encumbrances (Unfavorable)
Community Protection $ 5,175,396 $ 5,040,262 $ 135,134
Human Development 3,423,957 3,344,804 79,153
Home and Community Environment 16,129,341 14,856,401 1,272,940
Policy and Administration 3,145,315 2,867,941 277,374
Transfers Out 8,871,328 7,166,905 1,704,423
Note 4. Deficit Fund Equities
As of June 30, 1987, the Bridge, Street, and Traffic Control Construction Fund has
a deficit fund balance of $172,945. 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 financed in the
future from grants, transfers from other City funds, and proceeds from general
obligation bonds.
As of June 30, 1987, the Water Revenue Bond Funded Trust Fund has a deficit fund
-- balance of $34,576, the Sewer Revenue Bonds Funded Trust Fund has a deficit fund
balance of $87,539, and the Sewer General Obligation Bonds Refunding Trust Fund has
a deficit fund balance of $23,404,
violation of any law and occurred because These
the principdeficit al amount eofdthe odebtpexceeded
the cost of the investments purchased to pay the bonds and interest as they mature.
The yield on the investments will be greater than the debt service requirements
over the remaining life of the bonds.
As of June 30, 1987, the Housing Authority Fund has a. deficit equity balance of
$132,590. This deficit equity balance does not represent a violation of any law
and occurred because the Public Housing Annual Contributions Contract with the U.S.
Department of Housing and Urban Development (HUD) is based on a fixed interest rate
on long-term notes. The construction warrants continue to be invested in short.
additional contributions interest
era
cover the variancetes. It is inanticipated
interest HUDwill
withvian
adjustment to the next annual contributions contract payment, as has occurred in
previous years.
-45-
/pas
o•
CITY OF IOWA CITY, IOWA
NOTES TO FINANCIAL STATEMENTS _
June 30, 1987
Note S. Cash and Investments
The City maintains a cash and investment pool that is available for use by all
funds. Each fund type's portion of this pool is presented on the combined balance
sheet as "Cash" and "Investments" In addition, investments are separately held by
several of the City's funds. The deposits and investments of the Funded Bonds
Trust Funds and the Refunding Bonds Trust Fund are held separately from those of „
other City funds.
Deposits
At June 30, 1987, the carrying amount of the City's deposits was $49,763,843 which
includes $44,480,838 in certificates of deposit, and $5,283,005 in interest bearing
demand deposit accounts. The entire amount of the bank balance was covered by
federal depository insurance or collateralized by investments held by a depository
bank in the City's name under the direction of the State Treasurer of Iowa pursuant
to the Code of Iowa, Chapter 453.
Investments
Iowa statutes authorize the City to invest in obligations of the U.S. Government,
its agencies and instrumentalities, commercial paper rated A-1 by Standard & Poor's
Corporation or P-1 by Moody's Commercial Paper Record, bankers' acceptances, and
repurchase agreements. The pension trust fund is also authorized to invest in
coporate Standard &
bonds rated
Ratings, or corporate or better yindebtednesspasrdefinedobytthe better Aa or
Code of Iowa,
Chapter 97B.
Upon establishment of the Funded Bonds Trust Funds and the Refunding Bonds Trust
Fund, specific purchases of U.S. government obligations were made with the monies
deposited into the respective trust funds, in accordance with the respective trust
agreements.
The City's investments are all at the lowest level of risk which is defined as
investments that are insured or registered in the City's name, or are securities
which are held by the City or its agent in the City's name. The City's investments
at year end are shown below.
CARRYING MARKET
AMOUNT VALUE
U.S. Government securities $15,119,473 $14,839,530
Annuity contracts 1,175,000 1 175,0
6 4.47 &000
Total 1 -- '—L
Employee Deferred Compensation Fund Investments
The investment balance of the Employee Deferred Compensation Fund, in the amount of
choose4fromstheeld by severalvarious nvestmentnopt ons offeredroviders in the by he planname.
providersemployees
.
.^ -46-
,
—
CITY OF IOWA CITY, IOWA
Y
NOTES TO
AL STATEMENTS
FINANCIAL
J
ST
Note 6. Changes in General Fixed Assets
disposals
_
During the year ended
June 30, 1987,
general fixed
asset acquisitions
and
by type and funding source
were as
follows:
Changes by
Tyne and Fundinq
Source
_
Balance
1986
Acquisitions
nsfers
and Transfers
Disposals
Balance
June 30. 1987
June 30.
—
By type:E
f 3,036,370
$ 42,000
$
3,078,370
I
Land
Buildings and7,385582
,
3,235
7,388,817
492,224
`
structures
Other improvements
445,717
46,507
Equipment and
2,576,160
208,745
331,758
2,453,147
vehicles
Construction in
64.307
5686
632.393
14.0
progress
By funding source:
$,131,447
$228,287
$139,508
$ 4,220,226
General Fund
Special Revenue1
4,675
1,501,848
Funds
497,173
89,003
11,909
100,912
Gifts
+
Capital Projects
Funds:
i.�
General
obligation bond
5,252,153
623,267
191,750
5,683,670
538.295
proceeds
Other governments
2.538,360
�
$860
— �
S331.7@
14 U�44 951
-47-
/84�s
Y
-47-
/84�s
.Y'
Y
CITY OF IOWA CITY, IOWA
NOTES TO FINANCIAL STATEMENTS
June 30, 1987
During the year ended June 30, 1987, general fixed asset acquisitions and disposals
by function were as follows:
Changes by Function
Acquisitions
Balance and Balance
June 30, 1986 Transfers Disposals June 30, 1987
Policy and Administration 5 1377,691 $(58.755) $ - - s 1,318,936
Community Protection:
Police protection
5 583,153
Fire protection
832,195
Inspection services
14,804
Total Community Protection
E 1,430,152
Human Development:
Parks
$ 1,646,592
Recreation
912,822
Library
4,414,208
Senior Center
1,305,858
Total Human Development
$ 8,279,480
Home and Community Environment:
Physical environment
$ 173,797
Community development
2,031,263
Streets and traffic
engineering
215,753
Total Home and Community
Environment
$ 2,420,813
Total General Fixed Assets
48-
$ 96,677 $105,218 $ 574,612
15,228 847,423
618 15,422
$112,523$105,218 $ 1,437,457
$712,265 $ 3,837 $ 2,355,020
7,960 920,782
37,594 222,203 4,229,599
930 500 1,306,288
$758,749$226,540 $ 8,811,689
$ 2,007 $ $ 175,804
49,954 2,081,217
4,095 2219,848
55 6,056 $ $ 2,476,869
5868,573 �, $14,044,951
i8ar
.o
r
CITY OF IOWA CITY, IOWA
NOTES TO FINANCIAL STATEMENTS
June 30, 1987
As of June 30, 1987, the composition of general fixed assets by type and function
was as follows:
Composition by Type and Function
Improve-
ments
Buildings OtherConstruc-
Equipment tion
and Than
Land Structures Bldgs. Vehicles
�ress
g
pro�-- Total
Policy and
'
Administration
66,000 L-841,457 S 3,1781 408 301
$
Community Protection:
-
1318 936
Police protection
Fire protection
E $ 48,720 $ S 525,892
41,581
$ S
307,691
Inspection services 498,151
Total Community 5.271 _10,151
574,612
847,423
'
Protection-
4] 581 361,682 $
15.422
Human Development:
- -$1,034,194
E - - 1,437,457
,.t
Park-
Recreation
$ 815,940 $ 548,920 $315,022 $ 42,746
-
$632,392 $
Library
Senior Center658,550
- 826,103 11,189 83,490
155,000 3,416,049
2,355,020
920 782
Total Human
1.202.554 _ 1.850 101,884
4,229,599
Development
p
�i - 1.306 288
970 940 5 993 626 328 061 886,670
'
Nome and Community
1632,392
8,811,689
Environment:
Physical
environment
Community
$ 12,812 $ 10,953 $131,717 $ 20,322 $
^
development
Streets and
1,987,038 5,816 34,097 54,266
- - E 175,804
traffic
2,081,217
-
engineering
Total Home and
-- 112.048 47,800
219,848
Community
_
Environment $1,999,850
L 188,817 165 814 L-122,388 5
Total General
2,476,869
_
Fixed Assets
3.078 71
7. 8 8
AUW
Note 7. Urban 4
Development
Action Grant Loan Receivable
~
The
DevelopmentActionGrantin
U.S.CDepartmentwas aOfeHousingan band tiount
r 1984
UrbanDevelopment, the amountG in
the purpose of loaning the proceeds to the developer
which was
from the
of $2,081,000, for
completed in
operations, interest is
of a downtown Gel
September, 1984. During the first two years of the horoect
forgiven Is
on the loan and during the third
tel
and fourth
�.w11
or tl^•,
years,
t :t
4
-49-
/�a �
CITY OF IOWA CITY, IOWA
NOTES TO FINANCIAL STATEMENTS
June 30, 1987
interest at 9% will be accrued and added to the principal balance. Beginning
November, 1988, the developer will make equal monthly payments, including interest
at 8%, with final payment due July, 2009 (25 years from first grant disbursement).
A first mortgage exists on the 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. In December 1986, the developer
refinanced the senior mortgage and a lump sum payment of $150,000 was made against
the Urban Development Action Grant loan as required by the mortgage agreement.
Note 8. Pension and Retirement Systems
The City contributes to two local pension and retirement systems and to the Iowa
Public Employees 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.
Local Systems
The City of Iowa City is the administrator of two single -employer public employee
retirement systems (PERS) established to provide pension benefits for employees of
the Iowa City Police and Fire Departments and are regulated by Iowa statutes. The
City acts as custodian for the assets of the Police and Fire Pension and Retirement
Systems. They are considered part of the City of Iowa City financial reporting
entity and are included in the City's comprehensive annual financial report as
pension trust funds. 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.
At June 30, 1987, Police and Fire Pension and Retirement Systems membership con-
sisted of:
Pension and retirement benefits for the local systems are mandated by Iowa Statute;
Chapters 410 and 411. The Iowa City Police and Fire Pension and Retirement Systems
provide retirement as well as death and disability benefits. Benefits begin vestinc
at 15 years with full benefits after 22 years of credited service. Employees whc
retire at or after age 55 with 22 years of credited service are entitled to full
annual retirement benefits, payable monthly for life, in an amount equal to 5C
percent of their average final compensation for the three years of highest compensa-
tion. If a member has served between 15 and 22 years, upon termination of employ-
_50 -
/000750 —
Police
Fire
Total
Retirees and beneficiaries currently
receiving benefits and terminated
employees entitled to benefits but
not yet receiving themr
Current employees:
Vested
17
23
40
Nonvested
36
1
63
Total
59
r,L0
Pension and retirement benefits for the local systems are mandated by Iowa Statute;
Chapters 410 and 411. The Iowa City Police and Fire Pension and Retirement Systems
provide retirement as well as death and disability benefits. Benefits begin vestinc
at 15 years with full benefits after 22 years of credited service. Employees whc
retire at or after age 55 with 22 years of credited service are entitled to full
annual retirement benefits, payable monthly for life, in an amount equal to 5C
percent of their average final compensation for the three years of highest compensa-
tion. If a member has served between 15 and 22 years, upon termination of employ-
_50 -
/000750 —
0
CITY OF IOWA CITY, IOWA
NOTES TO FINANCIAL STATEMENTS
June 30, 1987
ment, he shall receive at age 55 a prorated benefit based on the number of years
served. A member with five or more years credited service who becomes totally and
permanently disabled from other than duty -related causes shall receive an ordinary
disability retirement allowance equal to 40% of the member's average final compensa-
tion. 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 final compensation.
Upon the death of a member caused by performance of duty, the member's spouse,
children or dependent parents shall be paid 507 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 mdmber 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 member at the highest grade until age 18 or 22 if applicable.
_. On January 1 and July 1 of each year, pensions payable to members or beneficiaries,
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.
Basis of Accounting:
Police and Fire Pension and Retirement Systems financial statements are prepared
N using the accrual basis of accounting. Employee and employer contributions are
recognized as revenue when received.
Method Used to Value Investments:
Fixed-income securities are reported at amortized cost. Investment income is
recognized as earned. Gains and losses on sales and exchanges of fixed-income
securities are recognized on the transaction date.
Market values as of June 30, 1987 for the investments of the Police and Fire
Pension and Retirement Systems are as follows:
i
Market Value Cost
Fire $6,477,009 $6,580,357
Police 5,817,997 5,910,409
Basis for Determination of Actuarial Present Value:
For financial reporting purposes, the actuarial present value of credited
projected benefits has been computed and disclosed in this footnote. 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
a. projected benefits for active participants, giving effect to estimated salary
r �• � �� to
CITY OF IOWA CITY, IOWA
NOTES TO FINANCIAL STATENENTS
June 30, 1987
rincreases to date of retirement. The portion assumed to be credited is the
endered reof presented
date he tratvalOf u ti(a)on to the
number of years covered service
Will have been rendered as of the expected datetof he total covered The vactuarial
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 requirements determination
because different actuarial cost methods are used for the two purposes.
The "pension benefit obligation" is a standardized disclosure measure of the
present value of pension benefits, adjusted for the effects of projected salary
increases
dserviceinterest
toi date. estimated
measurebeisp he lactuarial future re as a result
credited projected benefits and is intended to help users assess the Police and goin
Fire Pension and Retirement Systems funding status on an present value of
assess progress made in accumulating sufficient assets to ag-concern basis,
y benefits when
and retirement Sstems. The meas
independent of thesactuar al fundingamonnmethod used to determ ne contributions°redues
The pension benefit obligation was determined as
June 30, 1987. Significant actuarial assumptions rused (in t of an a the ractuarial tvaluat
tions as of June 30, 1987, 1986 and 1985) include a an assumed rate of return on
the investment of present and future assets of six percent per year compounded
annually; (b) projected salary increases of four percent
annually, attributable to inflation; pre- and post-retirement life expectancies of _
participants based on standard actuarial tables; per year compounded
active service before retirement for reasons other than death, rates of disability
and expected retirement ages developed on the basis of the actuarial statistics
used for life insurance purposes; (c) additional projected salary increases of 3%
per year, attributable to seniority/merit; and (d) no post-retirement benefit
increases.
t /000? -52-
.Y'
0
CITY OF IOWA CITY, IOWA
NOTES TO FINANCIAL STATEMENTS
June 30, 1987
A summary of the actuarial valuations for financial reporting purposes are as
follows:
Fire
Date of actuarial valuation
June 30, 1987
June 30, 1986
June 30, 1985
Net
Actuarial assets
present bvalue of le
1 6,860,938
5,772,640
5,026,965
projected benefits payable
to current retirants,
beneficiaries, and terminated
vested participants
Actuarial present value of
E 4,689,009
$ 3,958,272
$ 2,951,651
credited projected benefits
-'
„
for active participants
Total pension benefit obligation
3.738.231
8 427 240
3 439.320
_ 3.601.475
Pension benefit obligation (over)
7 397 592
S
6.553.126
under net assets available(1.566.
"
Increase in total pension
0 )
I1.6 4• )
I1 6 161)
benefit obligation from
last valuation
1.029.648
S 84�4,g65
S
�.:
Police
440 6
"
Date of actuarial valuation
June 30, 1987
June 30, 1986
June 30, 1985
Net assets available
Actuarial present value of
6,169,600
5,186,260
projected benefits payable
to current retirants, .
beneficiaries, and terminated
vested participants
Actuarial present value of
f 2,574,179
$ 2,164,488
E 1,736,659
credited projected benefits
for active participants
Total Pension benefit obligation
3.480.90
6 055 089
2.939,E
5
2.739.241
Pension benefit obligation (over)
104 0 0
4 475 900
under net assets available
Increase in total pension
114.5ii
S 8 .pan
—
benefit obligation from
last valuation
5 95�1.oto
S 6�28.17�n
Funding Policy:
1
The Police and Fire Pension and
periodic employer contributions
Retirement Systems funding policy
provides for
at actuarially determined rates,
centages of annual covered payroll, to accumulate sufficient
benefits when due.
expressed as per-
assets to pay
Covered employees are required by
the Police and Fire Pension Retirement
statute to contribute 3.1% of their salary to
Systems.
The State of Iowa contributes to
i �
-53-
0
M
CITY OF IOWA CITY, IOWA
NOTES TO FINANCIAL STATEMENTS
June 30, 1987
the systems to the extent necessary to fund increased benefits legislated
the remaining amounts necessary to finance the systems. by the
Iowa General Assembly. The City of Iowa City is required by statute to by
upon an actuarial cost method stipulated by IowThese rates are based
a statutes, which is essentially an
Benefit and aggregate cost method with no provision for any unfunded past service liability.
olegislatures are established by state law and may be
amended only by he Iowa
ributions
inntaccordancet ithne ntributionS6requirementsyer and dete determined yan) were actuarial
valuation performed at June 30, 1985.
Ten-year historical trend information designed to provide information about the
City of Iowa City Police and Fire Pension and Retirement Systems progress made in
accumulating sufficient assets to pay benefits when due
statistical section. is re
P sented in the
Iowa Public Employees Retirement System
Substantially all City permanent employees, not covered b
retire-
menty one of systems, are required to participate in the Iowa Public Employees Retirement
System (IPERS), a multiple -employers public retirement system administered by local the
State of Iowa. There are approximately 128,000 active employees participating in
the plan. The payroll for employees covered by IPERS for the year ended June 30,
1987, was $6,981,826; the City's total payroll was $11,281,530.
mEmployees, upon termination of service after four years or reaching age 55 with four
onthly formula set iby therstatut statutes. Final -ave age salary is the employee's average
to a retirement benefit based on a
salary over the past three years of credited service. Benefits fully vest on
reaching four years of service. Vested employees may retire at or after age 55 and
receive reduced retirement benefits. Any member who terminates employment before
retirement is entitled to a refund of their contributions plus interest. IPERS also
of
provides
active orn estedbmember, bothtthe member's andl
lthee y statute. Upon death
employer's contributions,
Y
Plus interest, are payable to the beneficiary.
Required contributions on a maximum salaryof
and 5.75% for employers. The contributins to 3IPERScfor
itheoyear7ended Juney305
1987, were $659,783 (5401,455 employer and $258,328 employeesh
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 1986, shows a total asset amount The most recently
Published
and is ed report
tlidbijdtJune 30,
represents the present value of future costs attributable to
June 30 Y, which
1986, of 597,510,788, a decrease of approximately $3,640,180ior vfrom alast
year. To liquidate the accrued liability with annual payments commencing June 30,
1987 and ending June 30 1998, the needed annual payment is
City's contributions for the year ended June 301987, which r $10,413 090. 'epresent' approxi
mately
32% of the total employers' contributions, havebeen paid within 30 days after year
end.
-54- /G
0
M
CITY OF IOWA CITY, IOWA
_ NOTES TO FINANCIAL STATEMENTS
June 30, 1987
rogress in accumating
sufficihistorical
enta sets to pay benefits information
dushowing
is gpresented pin (PERS' June 30,i11986,
annual financial report.
Contribution Schedule
Other information concerning the pension and retirement systems for the year ended
June 30, 1987 is as follows:
Fire Police IPERS
Employees' contributions $ 38,770 $ 46,154
Employers contributions $ 258,328
386,579
State contribution 262+872 401,455
42
Covered payroll +245 37,102
Number of employees 1,250,645 1,488,839 6,981,826
Contributions as a percentage 50 53 365
of active member payroll:
City 29.549,
State 17.69% 5.75%
Employees 3.66 2.65
Percentage of compensation to be 3'10 3.10 3.70
contributed for year ending
June 30, 1988 per actuary:
" City
State 30.05% 17.92% 5.75%
Employees 66 3.10 3.10 3.70 2.65
i-:
Note 9. 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 compensa-
tion and accumulated earnings thereon, totaling $869,046 at June 30, 1987, 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
theeprovisionsofebenefitsthe p under then plan hts of the Plan assetstarend are not subject to the claims to
of
the City's general creditors. Participants' rights under the plan are equal to
those of general creditors of the City in an amount equal to the fair market value
y of the deferred account for each participant.
i
-55-
lea S
.1.
CITY OF IOWA CITY, IOWA
NOTES TO FINANCIAL STATEMENTS
June 30, 1987
It is the opinion of the City's legal counsel that the City has no liability for
losses under the plan, but does 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 10. Bonded and Other Long-term Debt
General Obligation Bonds
During the year ended June 30, 1987, $6,350,000 of general obligation bonds were
sold by the City. Net proceeds from the sale totaled $6,287,000 with discount and
bond issuance costs of $63,303. The proceeds of these bonds were used for the
construction of a municipal swimming pool approved by the City voters in a special
election held June 3, 1986, the east side water storage tank representing $1,068,044
which will be abated by water revenue and the 1986-87 capital improvements program.
Various issues of general obligation bonds, totaling $18,055,000, are outstanding as
of June 30, 1987. The bonds have interest 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, 2002. Interest and principal
payments on all general obligation bonds, except tax abated portions recorded in the
enterprise funds, and refunded portions recorded in the expendable trust funds, are
accounted for through 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
301Equipment with a s$302,394
9sbeing
987balance of$156,124isdueinmonacquired
installmentsunder caital eranging from
$35,839 to $70,113 each year, includi1.ng interest ranging from 7.00% to 10.77%, with
the final installment due in May, 199
Revenue Bonds
As of June 30, 1987, the following unmatured revenue bonds are outstanding:
Parking Pollutio�raI
Amount $5,310,000 $38,950,000
Interest rates 5.50% to 8% 7.6% to 7.8%
Annual maturity $165,000 to $625,000 to
$515,000 $3,400,000
".4Y
` -56-/e; S
CITY OF IOWA CITY, IOWA
NOTES TO FINANCIAL STATEMENTS
June 30, 1987
The revenue bond ordinances required 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 and Interest Amount sufficient to pay current bond and
Sinking Reserve interest maturities.
(b) Revenue Debt Service 25% of the amount required to be deposited
Reserve in the Revenue Bond and Interest Sinking
Reserve until the reserve balance equals
the maximum debt service due on the bonds
in any succeeding fiscal year.
(c) Improvement Reserve $20,000 per month to a maximum reserve
balance of $2,000,000, beginning July
1987, for pollution control bonds and
$5,000 per month to a maximum reserve
balance of $300,000 for parking bonds.
Funded Revenue Bonds
Funded Water Revenue Bonds:
On June 30, 1986, the City created an irrevocable self-administered trust, the
Water Revenue Bond Funded Trust. This trust was established when $652,894 from
the Water Fund was converted to U.S. government securities for the express purpose
of paying the principal and interest on the outstanding Water Revenue Bond Issues,
Series 1961 and 1967 which totaled $706,000. At the same time, a residual equity
transfer was made to the Water Fund, in the amount of $59,110, which increased the
contributed capital of the Water Fund. The bonds have interest rates ranging from
3.5% to 4.2% and mature in varying annual amounts ranging from $35,000 to
$177,000, with final maturities due in the year ending June 30, 1993. The annual
debt service requirements of the bonds are as follows:
Year Ending
June 30
Principal
Interest
1988
$177,000
$21,580
1989
o.
15,737
Y
159,000
CITY OF IOWA CITY, IOWA
NOTES TO FINANCIAL STATEMENTS
June 30, 1987
The revenue bond ordinances required 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 and Interest Amount sufficient to pay current bond and
Sinking Reserve interest maturities.
(b) Revenue Debt Service 25% of the amount required to be deposited
Reserve in the Revenue Bond and Interest Sinking
Reserve until the reserve balance equals
the maximum debt service due on the bonds
in any succeeding fiscal year.
(c) Improvement Reserve $20,000 per month to a maximum reserve
balance of $2,000,000, beginning July
1987, for pollution control bonds and
$5,000 per month to a maximum reserve
balance of $300,000 for parking bonds.
Funded Revenue Bonds
Funded Water Revenue Bonds:
On June 30, 1986, the City created an irrevocable self-administered trust, the
Water Revenue Bond Funded Trust. This trust was established when $652,894 from
the Water Fund was converted to U.S. government securities for the express purpose
of paying the principal and interest on the outstanding Water Revenue Bond Issues,
Series 1961 and 1967 which totaled $706,000. At the same time, a residual equity
transfer was made to the Water Fund, in the amount of $59,110, which increased the
contributed capital of the Water Fund. The bonds have interest rates ranging from
3.5% to 4.2% and mature in varying annual amounts ranging from $35,000 to
$177,000, with final maturities due in the year ending June 30, 1993. The annual
debt service requirements of the bonds are as follows:
Year Ending
June 30
Principal
Interest
1988
$177,000
$21,580
1989
120,000
15,737
1990
159,000
10,246
1991
70,000
5,755
1992
75,000
2,922
1993
35,000
735
-57-
/bas
CITY OF IOWA CITY, IOWA
NOTES TO FINANCIAL STATEMENTS
June 30, 1987
Funded Sewer Revenue Bonds:
On July 1, 1986, the City created an irrevocable, self-administered trust, the
Sewer Revenue Bond Funded Trust. This trust was established when $694,361 from
the Pollution Control Fund was converted into U.S. government securities for the
express purpose of paying the principal and interest on the outstanding bonds from
Sewer Revenue Bond Issues, Series 1965 and 1966 which totaled $800,000. At the
same time, a residual equity transfer was made in the amount of $105,639 to the
Pollution Control Fund, which increased the contributed capital of the Pollution
Control Fund. The bonds have interest rates ranging from 3.25% to 3.75%, and
mature in varying annual amounts ranging from $75,000 to $100,000 with final
maturities due in the year ending June 30, 1995. The annual debt service require-
ments of the bonds are as follows:
Year Ending
June 30 Principal Interest
1988
$ 75,000
$25,610
1989
75,000
23,015
1990
75,000
20,420
1991
100,000
17,825
1992
100,000
14,275
1993
100,000
10,725
1994
100,000
7,150
1995
100,000
3,575
Special Assessment Bonds
As of June 30, 1987, $160,000 of unmatured special assessment bonds are outstanding.
The annual maturities are $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 funded by the special assessments collections.
Refunding of Parking Revenue Bonds
The 1978 Series Parking Facility Revenue Bonds with a total outstanding balance of
$4,730,000 were refunded in November 1985, by the issuance of $3,795,000 1985 Series
Parking System Revenue Bonds. An irrevocable trust was created with an unrelated
third party whereby the proceeds from the 1985 Series Bonds were converted into U.S.
government securities. These securities were placed in an escrow account for the
express purpose of paying the principal and interest on the refunded bonds as they —
o• come due.
Partial Refunding of Tax -Abated General Obligation Bonds
The portions of the 1978, 1979, and 1980 Series General Obligation Bonds which were
recorded as a liability of the Pollution Control Fund with a total outstanding
balance of $1,730,918 were refunded in August 1986 by the issuance of $38,950,000 —
1986 Series Sewer Revenue Bonds, of which $1,721,267 was applied to the refunding.
An irrevocable self-administered trust was created whereby the proceeds from the
1986 Series Bonds were converted into U.S. government securities for the express
purpose of paying the principal and interest on the refunded bonds as they come due.
3•
�... 'r ,` -58- �g.�S
CITY OF IOWA CITY, IOWA
NOTES TO FINANCIAL STATEMENTS
June 30, 1987
At e same time, a
which increased that sfund�seeontributedfecapital r was aa n tthe heamount tof $2ion ,167. Fund,
difference between the cash flows required to service the old debt and the cash
flows required to service the new debt is $89,067, while the economic loss resulting
from the transaction is estimated to be $5,987. The annual debt service require-
ments of the refunded bonds are as follows:
Year Ending Issue 1978 Issue 1979 Issue 1980
June 30 Principal Interest Principal Interest Principal tere
st
1988 $135,330 $12,992 $40,806 $10,793 $120,000 $62,400
1989 135,330 6,496 40,806 8,666 120,000 54,840
1990 40,806 6,498 240,000 47,280
1991 40,805 4,330 240,000 31,680
1992 40,805 2,163 240,000 15,840
Housing Authority Notes
As of June 30, 1987, $3,004,494 of housing authority project notes are outstanding.
These notes were issued by the Iowa City Housing Authority to the U.S. Department of
Housing and Urban Development (HUD) to finance the construction costs of the City's
public housing projects. The notes bear interest at 6.625% and 10% 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 Authority's annual contribution contract with HUD.
-59-
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CITY OF IOWA CITY, IOWA
NOTES TO FINANCIAL STATEMENTS
June 30, 1987
Summary of Bond and Other Long -Term Debt Transactions
A summary of the changes in long-term debt, by type, for the year ended June 30,
1987, is as follows:
Increases Reductions
Balance in Long -Term in Long -Term Balance
June 30, 1986 Debt Debt June 30. 1987
Bonded Debt
329,340
General Obligation
270,660
Issue 1977
$ 975,000
Issue 1978
204,028
Original issue
900,000
Amount refunded
1,020,000
Issue 1979
2,000,000
Original issue
3,000,00o
Amount refunded
63 0,000
Issue 1980
Original issue
1,800,000
Amount refunded
Issue 1982
2,250,000
Issue 1985
4,700,000
Issue 1986
Total general
obligation
513.625.000
Revenue
Parking
S 5,370,000
Pollution Control
Less bond discount
Parking
(92,431)
Pollution Control
Subtotal
$ 5,277,569
Funded Revenue
Pollution Control
Original issue
800,000
Amount funded
Water_
706.000
Total revenue
6 783 569
Special Assessment
$ 195.000
Total bonded debt
$20.603.569
Other Debt
Employee vested benefits
Long-term vacation
$ 326,637
Long-term sick leave
850.482
Total employee vested
_
benefits
$ 1,177,119
Obligations under capital
leases
212.569
Total other debt
$ 1.389.688
Total long-term debt
1 a 7
$ - - $ 325,000 $ 650,000
570,660
329,340
(270,660)
270,660
704,028
2,295,972
(204,028)
204,028
1,115,000
685,000
(1,020,000)
1,020,000
250,000
2,000,000
450,000
6.350.000
4,250,000
63 0,000
L 6.350.000 1-1,920,000 $18.055.000
$ - - $ 60,000 $ 5,310,000
38,950,000 - . 38,950,000
(5684 86747
(775,992) (29.846) (746.146))
$38,174,008 $ 24,470 $43,427,107
800,000
(725,000)
725,000
38 174 008S 169.400 0._636.000
—�
$44.788.107
35.000
114,524,008 12 470
S 160.000
563.003.107
$ 523,288 $ 454,620
86.761 138.675
$ 610,049 $ 593,295
56.445
610 049 $ 649.740
ff5p U1 57 L2,ZZJ�=
i 4 .60 -
$ 395,305
798.568
$ 1,193,873
_ 156.124
$ 1.349.997
64.3 104
/gar
CITY OF IOWA CITY, IOWA
_. NOTES TO FINANCIAL STATEMENTS
June 30, 1987
t,
Summary of Principal and Interest Maturities
Annual debt service requirements to service all outstanding bonded debt, other than
the funded water revenue bonds and the future sewer revenue bonds, as of June 30,
1987 are as follows:
General
Obligation
i�
Bonds
June 30
Principal
I�
Matured and unpaid
�a
$ 15,054
1988
2,375,000
is
1989
r,
1,030,900
1990
2,050,000
r�
1991
I'
765,750
ra
2,075,000
632,425
o•
i -v
1,657,400
1998-2002
2,150,000
470,950
M
M
Summary of Principal and Interest Maturities
Annual debt service requirements to service all outstanding bonded debt, other than
the funded water revenue bonds and the future sewer revenue bonds, as of June 30,
1987 are as follows:
Year Ending
June 30
1988
1989
1990
1991
1992
1993-1997
1998-2002
2003-2007
2008-2013
518.055,000 6 7 0
Special Assessment
Bonds
General
Obligation
Year Ending
Bonds
June 30
Principal
Interest
Matured and unpaid
$ 105,000
$ 15,054
1988
2,375,000
1,160,400
1989
2,425,000
1,030,900
1990
2,050,000
894,725
1991
2,075,000
765,750
1992
2,075,000
632,425
1993-1997
4,800,000
1,657,400
1998-2002
2,150,000
470,950
Year Ending
June 30
1988
1989
1990
1991
1992
1993-1997
1998-2002
2003-2007
2008-2013
518.055,000 6 7 0
Special Assessment
Bonds
Principal
Interest
S 40,000
$16,000
40,000
12,000
40,000
8,000
40,000
5160.000
4,000
40,000
Obligations Under
Capital
Leases
Principal
Interest
59,400
10,713
30,019
5,820
32,189
3,650
34,516
1,323
;"VV
Revenue
Bonds
Principal Interest
$ 165,000 $ 3,483,388
170,000 3,470,938
830,000 3,432,963
820,000 3,370,112
945,000 3,302,645
5,860,000 15,256,692
8,500,000 12,430,569
9,995,000 8,602,750
16,975,000 4.271,475
44.260.000 7 5
Debt Legal Compliance
Legal Debt Margin:
As of June 30, 1987, the general obligation debt issued by the City did not exceed
its legal debt margin computed as follows:
Assessed valuation:
Real property $1,216,758,230
Utilities 67,251,798
Total valuation 51,284,010,028
Debt limit, 5% of total assessed valuation $64,200,501
Debt applicable to debt limit 18,211,124
Legal debt margin 45,989,377
fj
6., .,t.• 1 -61- 19aZer
.1.
a
CITY OF IOWA CITY, IOWA
NOTES TO FINANCIAL STATEMENTS
June 30, 1987
Revenue Bond Ordinance Reserves:
A summary of the cash transactions of the reserves established by the bond
ordinances are as follows:
Debt Service Improvement
Parking Sinking Reserve Reserve Reserve
Beginning Balance
July 1, 1986 $ 282,456 $ 651,113 $ 50,260
Receipts 666,370 60,000
Disbursements 550,388
Ending Balance
June 30, 1987 $ 398.438 5110.260
Pollution Control
Beginning Balance
July 1, 1986 $ $ 308,738 $726,221
Receipts 2,770,773 3,672,550
Disbursements 1,259,498 308,738
Ending Balance
June 30, 1987 51,511,275 53.672.550 5726.221
Note 11. Industrial Development Revenue Bonds
Since 1980, the City has participated in thirty-nine issues of industrial develop-
ment 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.
0
.62 -
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1.
CITY OF IOWA CITY, IOWA
NOTES TO FINANCIAL STATEMENTS
June 30, 1987
Note 12. Contractual Commitments
The total outstanding contractual commitments for construction projects as of June
30, 1987, amount to $2,949,841. The City also has an outstanding commitment for
professional engineering services to be performed for the new wastewater treatment
facility in the amount of $2,837,337.
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 of loss is
$50,000 to $100,000.
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 of a rental
property. The plaintiff suffered injuries and later died as a result of an accident
at the property. The lawsuit is in the 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, 1987.
It is estimated that the potential settlements against the City, not covered by
hasu the eauthority to would not a levy terialladditional taxes affect the in(outsideotheioregulareln of ther
uninsured judgements against the City, imi) t cove
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, 1987, is as follows:
i
Governmental fund types $1,344,505
Proprietary fund types fl98,70.9
Total 1.743,254
I
-63-
/x.75
.P'
CITY OF IOWA CITY, IOWA
NOTES TO FINANCIAL STATEMENTS
June 30, 1987
Note 14. Interfund Receivables and Payables
As of June 30, 1987, interfund receivables and payables were as follows:
Pooled Investments
General Receivable Pa_ vat
Community Development Block Grant $204,581 $
Other Shared Revenue and Grants146,604
Federal Revenue Sharing 4,768 9,561
Urban Development Action Grant
Debt Service
Bridge, Street and Traffic Co t
Construction n rol
Other Construction
Parking
184,709
186,656
Pollution Control
Water
_
Sanitation
- -
Airport
- -
Housing Authority
Mass Transportation
- - 6,826
_ - 4,769
Equipment Maintenance
_ -
Central Supply
- - _
Perpetual Care
- -
Employee Benefits Trust
""
Johnson County Council of Governments
Sewer General Obligation Bonds
41,758
- " 113
Refunding Trust
Mayor's Youth Employment Program
Eldercraft Shoppe
- - 1,665
Library Foundation
-
Project Green
- -
Total
- -
396.00-
64_
.V'
Y
Other
Receivable
Payable
$169,023
$ 82,652
256
23,041
567
586
201
63,013
9
4
7,116
_
660
170,030
5,594
8,556
3,685
10,749
4,276
47,007
139
1,048
16,233
42,693
126,011
60
5,111
750
5,111
523
14
523
55
184
65,922
297
4
5
2
327
82
E428.094
CITY OF IOWA CITY, IOWA
NOTES TO FINANCIAL STATEMENTS
June 30, 1987
Total
Receivable
Payable
$373,604
5 82,652
146,860
27,809
10,128
586
201
63,013
9
184,713
193,772
_
660
170,030
5,594
8,556
3,685
10,749
4,276
47,007
139
7,874
4,769
16,233
42,693
126,011
60
5,111
750
523
14
41,758
55
297
65,922
4
1,665
5
2
327
82
824.0990
9
-65-
lfaqs
W
e
CITY OF IOWA CITY, IOWA
NOTES TO FINANCIAL STATEMENTS
June 30, 1987
Note 15. Segment Information for Enterprise Funds
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, 1987, is as
follows:
Pollution
Parking
Control
Water
Sanitation
Results of operations:
Operating revenue
$ 1,855,121
E 2,638,609
$2,013,231
$1,313,788
Depreciation
254,360
351,047
213,654
10,848 -
Operating income (loss)
692,526
(295,847)
343,147
77,030
(Loss) of disposal of
—
assets
(328)
- -
j Operating grants
Operating transfers
in (out), net
(385,189)
(16,195)
(18,010)
Interest
X(loss)
2(746,814)
763
Net income
(73,643)
277,201
96,907 _
Financial position:
—
Total assets
10,483,266
55,509,909
6,353,756
1,143,748
Net working capital
764,497
36,002,104
732,573
645,230 -
Property and equipment,
additions
180,316
2,938,502
197,238
13,265
Long-term debt
5,223,253
38,203,854
1,249,292
Retained earnings
(deficit)
4,641,268
2,123,085
2,572,879
870,876
Current capital
contributions
- -
355,578
222,777
Total equity
4,688,975
15,237,381
4,790,222
1,016,140 _
-66-
-67-
14?A or
CITY OF IOWA
CITY, IOWA
_
NOTES TO FINANCIAL
STATEMENTS
June 30,
1987
Airport
Housing
Authority
Mass
Transportation
Total
88,474
28,061
$ 591,872
108,489
$ 819,331
$ 9,320,426
(78,577)
195,021
244,559
(1,315,602)
1,211,018
(382,302)
_
(33,088)
(33,416)
275,041
275,041
67,530
277,591
1,015,665
663,801
(3,837)
(63,178)
(49,347)
3>413,910
(562,711)
I
1,506,519
(18,636)
3,553,916
85,616
4,573,054
83,124,168
65,945
38,277,329
592,029
24,097
3,004,494
248,464
4,193,911
- -
47,680,893
(262,464)
(277,773)
513,353
10,181,224
472,690
1,365,916
(100,449)
(132,590)
236,057
4,214,343
1,186,653
31,180,387
4
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CITY OF IOWA CITY
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CITY OF IOWA CITY, IOWA
SPECIAL REVENUE FUNDS
The Special Revenue Funds are utilized to account for revenue derived from
Specific sources which are required to be accounted for as separate funds.
The funds in this category and their purpose are as follows:
Community Development Block Grant Fund - accounts for revenue from
U.S. Department of Housing and Urban Development Community Develop-
ment 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.
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.
69 -
AV e7i/
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V': M
CITY OFIOWA CITY
-70-
.V'
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CITY OF IOWA CITY, IOWA
COMBINING BALANCE SHEET
ALL SPECIAL REVENUE FUNDS
June 30, 1987
71-
e0&a610`
Other
—
Community
Shared
Urban
Development
Revenue
Federal
Development
Block
and
Revenue
Action
ASSETS
Grant
Grants
Sharing
Grant
Total
Investments
$117,260
$465,671
$445,118
$ 154,750
$1,182,799
Receivables:
Interest
2,352
2,602
894
5,848
Action grant loan
- -
2,076,978
2,076,978
Due from other funds
27,809
586
201
28,596
Due from other
governments
70.111
148.798
218.909
Total assets
fj87�
f�4
2.232.823
53.513.130
I.:
LIABILITIES AND
MUNICIPAL EQUITY
Liabilities:
Accounts payable
S 26,828
$ 4,542
$
$
$ 31,370
Contracts payable
6,435
6,435
Accrued liabilities
7,247
7,614
14,861
Due to other funds
146,861
10,127
156,988
Deferred revenue
2.905
2.076.978
2.079,883
Total liabilities
87 37
25,188
$
$2.076.978
$2,289.537
Municipal equity, fund
—
balance (deficit):
Reserved for
encumbrances
$ 8,059
$ 2,132
f
$
$ 10,191
_
Unreserved
(8,059)
617.310
448,306
155.845
1.213.402
Total municipal
equity
$
$619,442
$448,306
155,845
$1,223,593
Total liabilities
and municipal
equity
)187,371
;y¢¢ ¢3
f448.3p
30
71-
e0&a610`
.o•
s
CITY OF IOWA CITY, IOWA
COMBINING STATEMENT OF REVENUE, EXPENDITURES
AND CHARGES IN FUND BALANCES
ALL SPECIAL REVENUE FUNDS
Year Ended June 30, 1987
REVENUE
Intergovernmental
Charges for services
Use of money and property
Miscellaneous
Total revenue
EXPENDITURES
Current operating:
Home and community
environment
Policy and administration
Capital outlay
Total expenditures
Revenue over expenditures
OTHER FINANCING
SOURCES (USES)
Operating transfers:
From other funds
(To) other funds
Total other financing
sources (uses)
Revenue and other
financing sources over
(under) expenditures
and other financing
uses
FUND BALANCE, BEGINNING
FUND BALANCE, ENDING
Other
Community Shared Federal
Development Revenue Revenue
Block Grant and Grants Sharing
$786,770 $ 1,967,794 $ 90,829
60
20 20,620 25,988
12.626 20.520
7 9 47 S 2 008 934 116 8 7
$219,956 $ - - $
129,097 764
555.651 51.575
775 607 $ 180.677 164
23,869 L 1, 828,262 1 116,053
$ $ 25,644 $
(23,869) 1 694 j60) (209,352)
—L23,869)—(1,668,516)—(209,352)
5 $ 159,746 $ (93,299)
459.696 541,605
L --M,442 5 448.306
-72- 14Aa s -
$155,845 $ 222,292
— 1.001.301
5155.84$ 1.
73-
/f4As'
Urban
Development
Action
Grant
Total
11
$100,000
$ 2,945,393
r
5,845
60
52,473
150.000
183.146
6 t
255 8 5
3 181 072
s 1"�
$100,000
S 319,956
129,861
]00 0005-1—,057.043
607,226
1155.845
2,124,029
$
$ 25,644
1 38 )
—:
$
1(1,901,737)
$155,845 $ 222,292
— 1.001.301
5155.84$ 1.
73-
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.Y'
e
CITY OF IOWA CITY, IOWA
SCHEDULE OF REVENUE,
EXPENDITURES AND CHANGES
IN FUND BALANCES, NON -GAAP BASIS
BUDGET
AND ACTUAL
ALL BUDGETED SPECIAL REVENUE
FUNDS
Year Ended
June 30, 1987
(Page
1 of 2)
Community
Development
Block Grant
Variance
Favorable
Budget
Actual
(Unfavorable)
REVENUE
Intergovernmental
$1,034,580
$862,466
$(172,114)
Charges for services
65
65
Use of money and property
5,530
5,530
Miscellaneous
Total revenue
$1,034,580
$868,061
$(166,519)
EXPENDITURES
Current operating:
Home and community environment
$ 780,167
$247,284
$ 532,883
Policy and administration
Capital outlay
303,539
617,6233(
14,084)
Total expenditures
$1,083,706$864,907$21
8,799
OTHER FINANCING SOURCES (USES)
Operating transfers:
From other funds
$
$ 7,098
$ 7,098
(To) other funds
(23,869)2(
3,869)
Total other financing
sources (uses)
23 869)15(
6,771)
$ 7.09_8
Revenue and other financing
sources over (under)
expenditures and other
financing uses
$ (72,995)
$(13,617)
5 3 8
FUND BALANCE (DEFICIT), BEGINNING
(14,106)1(
4,106)
FUND BALANCE (DEFICIT), ENDING
L
74•
Afar -
o•
Other Shared Revenue and Grants Federal Revenue Sharing
Variance Variance
Budget Favorable Favorable
Actual (Unfavorable) Budget Actual (Unfavorable)
$ 1,780,407 $ 1,829,602 $ 49,195 $ 194,992 $ 203,263 S 8,271
6,000 19,195 13,195 5,500 27,470 21,970
S 1.786.407 E 1.848.797 62 390 200 492 230 733 30 241
--
_ _ 700 764 (64)
700 764(64)
(1.862.168) _(1,694.160) 168.008 -(211,008) S -(209,352) S 1.656
$(1.862.168) $(1.694,160) 1168,008 1(211,008) 209 352) 1 1,656
S (75,761) S 154,637 jUgM $ (11,216) $ 20,617
304.817 _ 304.817 _ 424.399 424.399
—9-0-5 E 4
413.183 L445,01§
-� r t) 4
-75-
3 3
lCla S
.01
a
CITY OF IOWA CITY, IOWA
SCHEDULE OF REVENUE, EXPENDITURES AND CHANGES
IN FUND BALANCES, NON -GAAP BASIS
BUDGET AND ACTUAL
ALL BUDGETED SPECIAL REVENUE FUNDS
Year Ended June 30, 1987
(Page 2 of 2)
REVENUE
Intergovernmental
Charges for services
Use of money and property
Miscellaneous
Total revenue
EXPENDITURES
Current operating:
Home and community environment
Policy and administration
Capital outlay
Total expenditures
OTHER FINANCING SOURCES (USES)
Operating transfers:
From other funds
(To) other funds
Total other financing
sources (uses)
Revenue and other financing
sources over (under)
expenditures and other
financing uses
FUND BALANCE (DEFICIT), BEGINNING
FUND BALANCE (DEFICIT), ENDING
Total
Variance
Favorable
Budget Actual (Unfavorable)
$ 3,009,979 $ 2,895,331 $(114,648)
65 65
11,500 46,665 35,165
5.530 5.530
$ 3.021.479 $ 2.947.591 (73,888)
$ 780,167 $ 247,284 $ 532,883
700 764 (64)
303.539 617.623 (314,084)
$ 1.084,406 $ 865.671 218,735
$ - - $ 7,098 $ 7,098
(2,097,045) (1,927,381) 169,664
#(2,097,045) $(1,920,283) 176,762
$ (159,972) $ 161,637
715.110 715.110
y 3 S BZ6,Z47
76 -
3 60
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 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.
Other Construction Fund - accounts for the construction or replace-
ment of other City general fixed assets such as administrative
buildings with various funding sources, including general obligation
bonds, intergovernmental revenues, and contributions.
I
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Y ,
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CITY OF IOWA CITY, IOWA
COMBINING BALANCE SHEET
ALL CAPITAL PROJECTS FUNDS
Year Ended June 30, 1987
ASSETS
Investments
Receivables, interest
Due from other funds
Due from other governments
Total assets
LIABILITIES AND MUNICIPAL
EQUITY
Liabilities:
Accounts payable
Contracts payable
Accrued liabilities
Due to other funds
Total liabilities
Municipal equity, fund
balance (deficit):
Reserved for encumbrances
Unreserved
Designated for future
improvements
Undesignated
Total municipal equity
Total liabilities and
municipal equity
Bridge
Street and
Traffic
Control
Other
Construction
Construction
Total
f 1,941
$4,951,599
$4,953,540
41
11,231
11,272
9
193,772
193,781
85,922
85,922
$ 28,513
41,953
5,679
184,713
260,858
$ 170,827
(343,772)
$(172,945)
-78-
¢, 0 55.244.515
$ 43,253
259,977
989
$ 304.219
$ 71,766
301,930
6,668
184.713
S 565.077
$2,803,241 $2,974,068
1,705,370 1,705,370
343,772
$4,852,383 $4,679,438
/0ea? jr
.Y'
CITY OF IOWA CITY, IOWA
COMBINING STATEMENT OF REVENUE, EXPENDITURES AND
CHARGES IN FUND BALANCES
ALL CAPITAL PROJECTS FUNDS
Year Ended June 30, 1987
Bridge
Street and
Traffic
Control Other
Construction Construction Total
REVENUE
Intergovernmental S 1,170,118
Use of money and property 1,076
Miscellaneous
Total revenue 5 1.171.194
EXPENDITURES, capital outlay S 2.470.781
Revenue (under)
$ 520 $ 1,170,638
137,152 138,228
50.000 50.000
S 187.672 $ 1.358.866
$1,137,105 S 3,607,886
expenditures $(1.299,587) S (949,433) 1(2,249,020)
OTHER FINANCING SOURCES (USES)
Operating transfers:
From other funds $ 242,200
(To) other funds
Proceeds from general
obligation bonds 974,861
Total other financing
sources S 1,217,061
Revenue and other
financing sources
over (under)
expenditures and other
financing uses $
FUNDING BALANCE (DEFICIT),
$ 24,024 $ 266,224
(238,150) (238,150)
4.243.397 5.218.258
$4,029.271 1 5.246.332
(82,526) $3,079,838 $ 2,997,312
BEGINNING (90.419) 1.772.545 1.682.126
FUNDING BALANCE (DEFICIT),
ENDING 5 (172.945) 4.852.383 S 4.679.438
-79-
/bas
11
Y
CITY OF IOWA CITY, IOWA
ENTERPRISE FUNDS
The Enterprise Funds are utilized to account for operations and activities
j 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
i that periodic determination of revenues earned, expenses incurred, and/or
net income is appropriate for capital maintenance, public policy, manage-
ment control, accountability, or other purposes. The funds in this
category are as follows:
f
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.
-81-
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ry
SP
CITY OF IOWA CITY, IOWA
COMBINING BALANCE SHEET
ALL ENTERPRISE FUNDS
June 30, 1987
ASSETS
Cash
Investments
Receivables:
Accounts and unbilled usage
Interest
Due from other funds
Due from other governments
Inventories
Bond issuance costs
Property and equipment:
Land
Buildings and structures
Improvements other than
buildings
Equipment and vehicles
Accumulated depreciation
Construction in progress
Total assets ][[[
LIABILITIES AND MUNICIPAL
EQUITY
Liabilities:
Accounts payable $
Contracts payable
Accrued liabilities
Due to other funds
Due to other governments
Deferred revenue
Interest payable
Deposits
Revenue bonds payable
Housing Authority notes
payable
General obligation bonds
payable
Parking
$ 500
1,296,717
14,221
23,437
660
20,345
1,558,189
8,747,393
6,031
72,102
(1,409,492)
_153,163
Pollution
Control
S --
37,365,558
360,347
339,279
5,594
117,692
29,643
2,444,742
17,045,307
104,624
(5,841,082)
3.538.205
555.0, 0
Water
S --
540,981
327,327
3,515
3,685
171,307
76,547
3,919,384
4,719,363
168,617
(3,576,970)
U_3 5
.3.756
7,454
S 51,640
$ 63,378
92,147
403,793
65,803
93,410
67,161
170,030
8,556
10,749
5,701
235,604
1,511,275
8,158
5,223,253
38,203,854
159,095
Total liabilities S 5,794.291 S 40.272.528
Municipal equity:
Contributed capital $ 47,707 S 13,114,296
Retained earnings
(deficit):
1.249.292
$
1,563.534
$ 2,217,343
Bond ordinance reserves 1,159,811 5,910,046
Unreserved 3.481.457 !3.786.961) 2.512.879
Total municipal equity 5 4,688.9E S 15.237.381 S 4,790.222
Total liabilities and
municipal equity 1U.483.266LIM01M S 6.35a_�5F
-82-
Housing Mass
Sanitation Airoort Authority Transportation Total
$ 450 $ -- E E 1,255 S 2,205
635,435 121,210 379,928 399,262 40,739,091
129,196 - - 2,713 6,733 840,537
3,481 618 1,173 371,503
4,276 139 16,233 30,587
384,987 384,987
171,307
138,037
160,190 462,241 554,050 1,350 2,842,210
i 41,287 777,666 2,654,222 2,403,252 20,987,946
175,874 541,039 10,981 285,510 22,784,105
i 22,176 28,554 62,628 2,616,012 3,074,713
(28,617) (813,610) (495,593)(1,157,726) (13,323,090)
ti 388,662 _ 4.080.030
I �3 1.50 19 f3.55��,916 4. 13.054 f 8�-
' i
E 14,728 E 3,223 $ E 15,572 $ 155,995
121,331 617,271
65,873 8,175 29,440 115,812 445,674
47,007 7,874 4,769 42,693 291,678
- - 27,196 175,157 208,054
140,500 9,477 149,977
467, 2,222,668
_ 12,447676 171,571
,43,427,107
3,004,494 3,004,494
o'
_.127 608 40 603 3 686 506 358 711
L-51,943,781
S 145,264 $1,628,380 $ 145,183 E 3,700,990 E 20,999,163
7857
262 6 )(-(277,773) 513,353 _ 3, 111069,,367
1 016 140 365 9 6 (132,590) S 4,214.343 S 31, 80,387
_ 1,14(3 74g 1,506,519 S 16 S 4,573,0 q S 83.1�24,16g
'�
-83-
o•
d
rAl
CITY OF IOWA CITY, IOWA
COMBINING STATEMENT OF REVENUE, EXPENSES
AND CHANGES IN RETAINED EARNINGS
ALL ENTERPRISE FUNDS
Year Ended June 30, 1987
REVENUE:
Charges for services and use of
property
Miscellaneous
Total revenue
EXPENSES:
Personal services
Commodities
Services and charges
Depreciation
Loss on abandoned capital
improvement project
Total expenses
Operating income (loss)
NONOPERATING INCOME (EXPENSES):
(Loss) on disposal of fixed assets
Operating grants
Interest income
Interest expense
Income (loss) before operating
transfers
OPERATING TRANSFERS IN (OUT), NET
Net income (loss)
Items acquired by contributed capital
that reduces contributed capital:
Depreciation
Loss on abandoned capital improvement
project
RETAINED EARNINGS (DEFICIT), BEGINNING
RETAINED EARNINGS (DEFICIT), ENDING
-84-
Pollution
Parking Control Water
$1,854,686 $ 2,636,851 $1,984,840
435 1,758 28,391
$1,855,121 $ 2,638,609 $2,013,231
$ 597,744 $ 511,130 $ 570,983
41,374 47,492 155,852
269,117 419,887 729,595
$ 908,235 $ 978,509 $1,456,430
254,360 351,047 213,654
1,604,900
$1,162,595 $ 2,934,456 $1,670,084
$ 692,526 $ (295,847) $ 343,147
(328)
91,595 2,136,014 27,340
_(472,575) (2,586,981) (76,763)
$ 311,546 $ (746,814) $ 293,396
_(385,189) (16,195)
$ (73,643) $ (746,814) $ 277,201
1,283,920
4,714,911 1,585,979 _2,295,678
4.641.268 $ 2.123,085 $2.512.879
/gas
.o.
d
r..
Housing Mass
Sanitation Airport Authority Transportation Total
$1,310,240 $ 69,195 $ 588,674 $ 752,868
3.548 19.279 3.198 66.463
$1,313,788 88,474 1 591,872 $ 819.331
$ 452,524 $ 53,098 $ 172,849 $ 1,069,358
20,152 11,949 12,776 9,954
753.234 73.943 102.737 811.062
$1,225,910 $ 138,990 $ 288,362 $ 1,890,374
10,848 28,061 108,489 244,559
$1.236.758 167 051 396 851 $ 2.134.933
$ 77,030 $ (78,577) $ 195,021 $(1,315,602)
S 9,197,354
123.072
1 9.320.426
S 3,427,686
299,549
_3,159,575
$ 6,886,810
1,211,018
1.604.900
$ 9.702.728
$ (382,302)
100,601 100,601
1,283,920
773.969 (258,627) (214,595) 462.099 9.359.414
51217.773) $ 10.181,224
-85-
/v VC050�
(33,088)
(33,416)
37,887
7,210
19,392
275,041
8,637
275,041
2,328,075
(277,591)
(3.413.910)
$ 114,917
$ (71,367)
$ (63,178)
$(1,065,012)
$(1,226,512)
(18.010)
67,530
w -
1.015.665
663.801
$ 96,907
$ (3,837)
$ (63,178)
$ (49,347)
$ (562,711)
100,601 100,601
1,283,920
773.969 (258,627) (214,595) 462.099 9.359.414
51217.773) $ 10.181,224
-85-
/v VC050�
m
CITY OF IOWA CITY, IOWA
COMBINING STATEMENT OF
RISE
IN FINANCIAL POSITION
$ 2,938,502
ENTER
DS
122,400
18,225
Year Ended June
30, 1987
20,000
1,131,667
Due to other funds
Payment of bonds and notes
Pollution
2.530.918
5 5.610.045
19.148
$1.348.053
Parking
Control
Water
FINANCIAL RESOURCES PROVIDED BY:
Operations:
income (loss)
;(73,643) $
(746,814)
$ 277,201
Net
Items which did not (provide), or
require outlay of cash and
investments:
254,360
351,047
213,654
Depreciation
7,167
34,554
-
Amortization
Loss on abandoned capital
1,604,900
- -
improvement project
328
Loss on disposal of fixed assets
(Increase) decrease in:
Accounts and accrued interest
169
(463,252)
(75,358)
receivable
Due from other funds
( -660)
11,150
67
(3,685)
4,161
Due from other governments
_
_
(17,562)
Inventories
Increase (decrease) in:
Accounts payable and accrued expenses (10,944)
20,384
(39,863)
(13,900)
Due to other funds
(1,640)
41803
(286)
Due to other governments
_ _
Deferred revenue
Interest payable
2g g
( .4 7)
1.488.653
5.814
Total financial resources
provided by operations
$151,282
$ 2,305,492
$ 350,504
Other sources:
Contracts payable
21,014
403,793
Due to other governments
_ _
2,404
Deposits
Contributed capital
355,578
38.174.008
222,777
1.068.440
Proceeds from sale of bonds
Total financial resources
provided
175 2,296
$41.238.871
$1.644.125
FINANCIAL RESOURCES APPLIED TO
Purchase of property and equipment
$180,316
$ 2,938,502
$ 197,238
Bond issuance costs
122,400
18,225
Contracts payable
20,000
1,131,667
Due to other funds
Payment of bonds and notes
60.000
0,316
2.530.918
5 5.610.045
19.148
$1.348.053
Total financial resources applied265
Net increase (decrease) in cash
and investments
/8;?5
Housing Mass
Sanitation Airport Authority Transportation Total
$ 96,907 $ (3,837) S (63,178)
10,848 28,061 108,489
$(49,347) $ (562,711)
244,559 1,211,018
41,691
1,604,900
33,088 33,416
M
42,802
r (1,580)
2,109
(139)
(2,492)
3,551
(492,471)
443
(187,082)
119,)
592
(63,262)
(17,562)
(4,785)
23,768
1,760
6,418
2,751
4,130
6,631
(13,931)
(24,066)
9,648
11,105
10,819
22,550
9,477
32,027
-
277,591
1.748.561
$167,960
$ 34,372
$ 173,864
$348,977
$ 3,532,451
_i
105,260
- -530,067
63,750
63,750
472,690
(489)
(100,449)
236,057
1,915
1,186,653
.-
39.242.448
$167,960
i
$612,322
72,926
$648,784
;44.557.284
_ $ 13,265
$592,029
$ 24,097
$248,464
$ 4,193,911
15,098
_ _
103,827
122,400
137,150
1,151,667
r28 363
5139.597
$592,029
S 20.293
24,097
S 48.829
352 91
5296.493
2,610,66
S 8.215.194
36.342.090
-87-
l8d;r
CITY OF IOWA CITY, IOWA
SCHEDULE OF REVENUE, EXPENDITURES AND CHANGES
IN FUND BALANCES, NON -GAAP BASIS
BUDGET AND ACTUAL
ALL BUDGETED ENTERPRISE FUNDS
Year Ended June 30, 1987
(Page 1 of 3)
Parking Fund
Variance
Favorable
Budget Actual (Unfavorable)
REVENUE
E
S
Licenses and permits
Intergovernmental
170
Charges for services
Fines and forfeitures
190,000
185,191
Use of money and property
2,057,020
1,748,578
455
Miscellaneous
Total revenue
1.000
5 2,248.020
$ 1,934,394
EXPENDITURES
Current operating:
Home and community environment
$ 921,730
$ 879 562
Capital outlay
33,762
34:758
Debt service:
Principal
60,000
60,000
Interest
Total expenditures
492.538
$ 1,508,030
490.388
$ 1,464,708
OTHER FINANCING SOURCES (USES)
Operating transfers:
From other funds
$ 727,686
E 732,370
(To) other funds
(1,360,257)
(1,230,127)
Proceeds to establish bond
ordinance reserves
Total other financing
(uses)
s (632.571)
$ (497,757)
sources
Revenue and other financing
sources over (under)
expenditures and other
$ 107,419
$ (28,071)
financing uses
o.
FUND BALANCE, BEGINNING
1,295,659
1,295,659
FUND BALANCE (DEFICIT), ENDING
a
S
170
(4,809)
(30 (545)
$(313,626)
$ 42,168
2.150
$ 43,322
$ 4,684
130,130
135 4,814
/00 A SM
Pollution Control Fund Water Fund
Variance Variance
Favorable Favorable
Budget Actual (Unfavorable) Budget Actual (Unfavorable)
-
1,481,804 2,462,918 981,114
355,579 379,396 23,817
1.909 1.768 (141)
$ 1.839,292 S 2,844.082 S 1,004,790
--
2,190,118 2,026,667 (163,451)
23,823 32,453 8,630
43.248 27.092 (16,156)
$2,257,189 $2,086,212 $070,977)
$ 1,040,766 $ 988,386 $ 52,380 $1,675,093 $1,479,533 $ 195,560
18,160 18,092 68 203,626 137,296 66,330
1.259,396 1,259,498 (102)
$ 2,318,322 S 2.265,976 S 52,346 $1,878.719 $1,616,829 261,896
$ 1,867,824 $ 545,840 $(1,321,984)
(2,497,133) (1,187,943) 1,309,190
3,672,550 5,897,483 2,224,933
S 3,043,241 $ 5,255,380 S 2,212,139
$ 2,564,211 $ 5,833,486 S 3.269.275
1,743,932 1,743,932
5 4.308.143 S 7.577.418
89-
$ 36,000 $ 30,000 $ (6,000)
(204,212) (131,109) 73,103
(168,212) S (101,109) 67,103
$ 210,258 $ 368,274 0 6
237.963 237.963
QQQ� S 606.237
j gA s
r
CITY OF IOWA CITY, IOWA
SCHEDULE OF REVENUE, EXPENDITURES AND CHANGES
IN FUND BALANCES, NON -GAAP BASIS
BUDGET AND ACTUAL
ALL BUDGETED ENTERPRISE FUNDS
Year Ended June 30, 1987
(Page 2 of 3)
Sanitation Fund
Variance
Favorable
Budget Actual (Unfavorable)
REVENUE
Licenses and permits
Intergovernmental
Charges for services
Fines and forfeitures
Use of money and propertY
Miscellaneous
Total revenue
EXPENDITURES
Current operating:
Home and community environment
Capital outlay
Debt service:
Principal
Interest
Total expenditures
OTHER FINANCING SOURCES (USES)
Operating transfers:
From other funds
(To) other funds
Proceeds to establish bond
ordinance reserves
Total other financing
sources (uses)
Revenue and other financing
sources over (under)
expenditures and other
financing uses
FUND BALANCE, BEGINNING
FUND BALANCE (DEFICIT), ENDING
S 200
$ 238
$ 38
1,157,778
1,348,134
190,356
54,248
36,689
(17,559)
100
3,548
3,448
$1,212,326
$1,388,609$176,283
$1,026,535
$1,017,245
$ 9,290
2,015
17,113
(15,098)
$ (5,803)
$1,034,358
$1,028,550
$ 25,000 $ 25,000
(267,801) (251,678)
$ (242,801) 5(226,678)
S (59,025) $ 127,573
499,482 499,482
g0 -
I.
a
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IgAr
Airport Fund
Mass
Transportation Fund
Variance
Variance
Budget
Actual
Favorable
(Unfavorable)
_ Budget
Actual
Favorable
(Unfavorable)
$
$
$
$
$
$
463
1
463
288,258
426,325
138,067
1
740,000
726,512
(13,488)
80,232
20,630
77,566
19,279
(2,666)
(1,351)
6,900
5,0001,825
8,059
1,159
1 $100,862
97,309
$0,553
1 040,158
6 721
3 175)
1122,563
j $166,023
$145,426
$20,597
$2,225,932
$1,897,420
$328,512
-
14,682
14,081
601
?$166,023
$145,426
$20,597
2 240 6]
911 501
1329,113
$100,630
(32,469)
$100,530
(33,000)
f (100)
(531)
$1,050,403
$1,012,345
$(38,058)
r -•
(16,180)
(16,344)
(164)
J 68,161
S 67,530
631)
11,034,223
996,001
$08,222)
$ 3,000
$ 19,413
$ 16.413
$ (166,233)
$ 247,221
$413,454
101,700
i
104.700
101,700
$121,11
107,308
$ ( )
107,308
$ 354,529
-91-
IgAr
.1.
Y
CITY OF IOWA CITY, IOWA
SCHEDULE OF REVENUE, EXPENDITURES AND CHANGES
IN FUND BALANCES, NON -GAAP BASIS
BUDGET AND ACTUAL
ALL BUDGETED ENTERPRISE FUNDS
Year Ended June 30, 1987
(Page 3 of 3)
REVENUE
Licenses and permits
Intergovernmental
Charges for services
Fines and forfeitures
Use of money and property
Miscellaneous
Total revenue
EXPENDITURES
Current operating:
Home and community environment
Capital outlay
Debt service:
Principal
Interest
Total expenditures
OTHER FINANCING SOURCES (USES)
Operating transfers:
From other funds
(To) other funds
Proceeds to establish bond
ordinance reserves
Total other financing
sources (uses)
Revenue and other financing
sources over (under)
expenditures and other
financing uses
FUND BALANCE, BEGINNING
FUND BALANCE (DEFICIT), ENDING
Total
$ 3,807,543 $ 2,446,085 $(1,361,458)
(4,378,052) (2,850,201) 1,527,851
3,672 550 5.897.483 _2,224.933
L33102,041 5 493,367 1 2,391,326
$ 2,659,630 $ 6,567,896 08 6
3.986.044 _ 3.986.044
6.645 674 10.553 40
-92-
%tdaS -
Variance
_ Budget
Actual
Favorable
(Unfav�rablel
$ 200 288 258
$ 238
426788
$ 38
530
5,569,700
190,000
6,564,402
185,191
994,702
2,577,802
2,282,741
(4,809)
(295,061)
71.887
$ 8.697.847
53 .967117.920)
9 513 327
_
815 480
$ 7,056,079
272,245
$ 6,407,572
221,340
$ 648,507
50,905
60,000
60,000
1,751.934
9,140 258
_1.749.886
8 438 798
2.048
701,460
$ 3,807,543 $ 2,446,085 $(1,361,458)
(4,378,052) (2,850,201) 1,527,851
3,672 550 5.897.483 _2,224.933
L33102,041 5 493,367 1 2,391,326
$ 2,659,630 $ 6,567,896 08 6
3.986.044 _ 3.986.044
6.645 674 10.553 40
-92-
%tdaS -
.o
a
!i
ra
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 reimburse-
ment basis. The funds in this category are:
Equipment Maintenance Fund - accounts for the provision of main-
tenance 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.
-93-
YOU0
o•
ar
CITY OF IOWA CITY, IOWA
COMBINING BALANCE SHEET
ALL INTERNAL SERVICE FUNDS
June 30, 1987
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
94 -
Equipment
Central
Maintenance
Services
Total
$ 559,185
.$107,703
E 666,888
6,765
14
6,779
2,967
580
3,547
126,011
5,111
131,122
408,742
22,356
431,098
45,462
45,462
563,355
563,355
41,365
41,365
2,786,735
138,212
2,924,947
(1,580.679)
(45,905)
(1.626,584)
2
S 3.187.979
$ 39,742 E 4,947 S 44,689
72,327 72,327
60 750 810
S 112.129 5,697 S ]17.826
f 1,228,044 E 5,822 E 1,233,866
1.619.735 216,552 1.836.287
E 2.847.779 $222,374 3.070.153
e
CITY OF IOWA CITY, IOWA
COMBINING STATEMENT OF REVENUE, EXPENSES
AND CHANGES IN RETAINED EARNINGS
ALL INTERNAL SERVICE FUNDS
Year Ended June 30, 1987
REVENUE:
Charges for services
and use of property
Miscellaneous
Total revenue
EXPENSES:
Personal services
Commodities
Services and charges
Depreciation
Total expenses
Operating income
NONOPERATING INCOME,
interest income
Net income
RETAINED EARNINGS, BEGINNING
RETAINED EARNINGS, ENDING
8.—stot t
C o }"z". to
Equipment Central
Maintenance Services Total
$1,480,438 E 67,512 $1,547,950
140 140
$1.480.438 67,652 $1.548.090
$ 518,880 $ - - $ 518,880
491,718 12,817 504,535
117.497 12,147 129.644
$1,128,095 $ 24,964 $1,153,059
326.400 27.147 353.547
$1,454.495 52,111 $1,506,606
$ 25,943 $ 15,541 $ 41,484
28.380 5.106 33.486
$ 54,323 $ 20,647 $ 74,970
1.565.412 195.905 1.761,317
1,619,735 $21 5 11,836,287
95- 10064so
0
CITY OF IOWA CITY, IOWA
COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION
ALL INTERNAL SERVICE FUNDS
Year Ended June 30, 1987 _
Equipment
Central
Maintenance
Services
Total —
FINANCIAL RESOURCES PROVIDED BY
Operations:
_
Net income
$ 54,323
$20,647
$ 74,970
Items which did not require
—
outlay of, cash and investments:
Depreciation
326,400
27,147
353,547 _
Decrease in:
Accounts and accrued
interest receivable
7,457
2,439
9,896 _
Due from other funds
20,654
1,335
21,989
Inventories
16,948
4,148
21,096 —
Increase (decrease) in:
Accounts payable and
`
accrued expenses
(5,224)
(4,241)
(9,465)
Due to other funds
23
23
Total financial resources
provided by operations
$420,581
$51,475
$472,056
Other sources, contributed capital
12,724
12,724 `
Total financial resources
provided
$433,305
$51,475
$484,780
FINANCIAL RESOURCES APPLIED TO purchase
of property and equipment
$375,919
$ - -
$375,919
Net increase in cash and
_
investments
57.386
meq]
0 86
o.
a
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 a
trustee or custodial capacity for the City's two pension and retirement funds,
three bond trust funds, and for other entities, such as individuals, private
— organizations, or 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
I
Expendable Trust Funds
Employee Benefits Trust Fund - accounts for the employee benefits related to
w
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 finan-
cial activities of the metropolitan/rural cooperative planning organization.
Water Revenue Bonds Funded 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.
Sewer Revenue Bonds Funded Trust Fund - accounts for the investments placed
in a self-administered trust, which, along with the earnings thereon, are
expected to pay the outstanding sewer revenue bonds and the related interest
as they mature.
_
Sewer General Obligation Bonds Refunding Trust Fund - accounts for the
investments placed in a self-administered trust, which, along with the
earnings thereon, are expected to pay the outstanding tax -abated portions of
—
the general obligation bond issues that had been a liability of the Pollu-
tion Control Fund.
_.
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 funds:
Project Green
Mayor's Youth Employment Program
Library Foundation
—
Eldercraft Shoppe
a
Employee Deferred Compensation
�•
CITY OF IOWA CITY, IOWA
COMBINING BALANCE SHEET
ALL TRUST AND AGENCY FUNDS
June 30, 1987
' -98-
/8a
Non -
ASSETS
Pension
Expendable
EXTrustble
Trust Funds
Trust Funds
Fund
Investments
Receivables:
$12,490,766
$2,686,407
$80,455
Property taxes
Accounts
797,807
Interest
Due from other funds
581,963
93,658
32,792
503
Due from other governments
65,991
11.573
Total assets
E13.0
53.688 22880
958
j LIABILITIES AND MUNICIPAL
EQUITY
Liabilities:
Accounts payable
Accrued liabilities
$ 42,191
$ 2,199
$
Due to other funds
Due to
5,802
42,055
523
agency
Deferred revenue
Interest payable
777,114
_
Deferred compensation
35,780
payable
—
Revenue bonds payable
1,361,000
General obligation bonds
payable
Total liabilities
S 42.191
1 94 688
3 718 638
523
Municipal equity:
Fund balance (deficit):
`
Reserved for:
Employee retirement
commitments
$13,030,538
$ 70,992
$
Johnson County Council
of Governments
44,117
Perpetual care
Unreserved
145 519)
80,435 `
Total fund balance
(deficit)
$13,030,538
(30,410)
180,435 --
Total liabilities
and municipal equity
S1 '07 7
53.688 7 g
80.958 _
' -98-
/8a
Agency
Funds Total
$1,211,471 $16,469,099
i
797,807
93658
(1 1,858 617,116
418 66,409
!1.223'648 —]8.065.164
i •J
i
i 4?
1 ! 4,282 ! 48,672
14,883 20,685
ti 1,667 44,245
333,470 333,470
777,114
35,780
869,046 869,046
1,361,000
1223 348q 494 688
i
,984,700
! !13,101,530
.o• I
— 44,117
80,435
(145,519)
L13,080,563
a
ti -99- Arip
or
s�
r
CITY OF IOWA CITY, IOWA
COMBINING BALANCE SHEET
ALL PENSION TRUST FUNDS
June 30, 1987
LIABILITIES AND MUNICIPAL EQUITY
Liabilities, accounts payable 25,997
Municipal equity, fund balance,
reserved for employee
retirement commitments $6,860,938
Total liabilities and
municipal equity 6 886
t
16.194 E 42.191
16—J69.600 $13,030.538
6.185.794 $13.072 729
-100- / ���
Fire Pension
Police Pension
ASSETS
& Retirement
& Retirement
Trust
Trust
Total
Investments
Receivables, interest
$6,580,357
$5,910,409
$12,490,766
306.578
275.385
581.963
Total assets
6.886.9
94
513.0
LIABILITIES AND MUNICIPAL EQUITY
Liabilities, accounts payable 25,997
Municipal equity, fund balance,
reserved for employee
retirement commitments $6,860,938
Total liabilities and
municipal equity 6 886
t
16.194 E 42.191
16—J69.600 $13,030.538
6.185.794 $13.072 729
-100- / ���
-101-
/000� or
CITY OF IOWA CITY, IOWA
COMBINING STATEMENT OF REVENUE, EXPENSES
AND CHANGES IN FUND BALANCES
—
ALL PENSION TRUST FUNDS
Year Ended June 30, 1987
Fire Pension Police Pension
& Retirement & Retirement
Trust Trust
Total
REVENUE:
State contribution
City contribution
5 42,245 $ 37,102
$ 79,347
Member contribution
388,579 262,872
38,770 46,154
651,451
Interest
Total
925.951 _ 833.620
84,924
1.759.571
revenue
51,.395.545 1 179 748
; 2.575.293
EXPENSES:
Pension benefits
Disability benefits
$ 155,140 $ 96,890
S 252,030
w
Death benefits
109,933 69,007
42,174 30.511
178,940
Total expenses1
_
307,247 196 408
72.685
S 503.655
Net income
$1,088,298 $ 983,340
E 2,071,638
{
FUND BALANCE, BEGINNING
-�.772.640 5,186,260
10.958.900
^;
i
FUND BALANCE, ENDING6.169.600
513.030.5LS
I ✓
.o• i _
-101-
/000� or
.1.
Y
CITY OF IOWA CITY
"r 4" t f, -102-
.o
Sewer Revenue
Bonds
Sewer General
Obligation Bonds
Funded
Trust
Refunding
Tom_
Total
$636,583
$1,412,280
$2,686,407
- -
797,807
14,389
7,726
93,658
65,922
32,792
65,991
45,_@
11,573
;3.688 2
5 --
13,511
725,000
$738,511
E --
f87,539)
l(8Z.539)
5657
14,644
1,494.6a8
$1,509,332
S --
23 404)
(23,404)
51.485, g
S 2,199
5,802
42,055
777,114
35,780
1,361,000
1,494,68s
$3,718,638
S 70,992
44,117
145 5 9)
(30,410)
-105-
IOP075
CITY OF IOWA CITY, IOWA
COMBINING STATEMENT OF REVENUE, EXPENDITURES AND
CHANGES IN FUND BALANCES
ALL EXPENDABLE TRUST FUNDS
Year Ended June 30, 1987
Employee Johnson County
Benefits Council of
Trust Governments Trust
REVENUE
Property taxes $ 445,171
Intergovernmental
Charges for services 93,613
4067
Use of money and property 14,067
Miscellaneous 556 474
3 623
Total revenue
EXPENDITURES
Current operating:
Community protection $ 39,215
Home and community
environment
Policy and administration 50,889
Capital outlay
Debt service:
Interest and fiscal
charges 90 104
Total expenditures ;�--
Revenue over (under) 466
expenditures ,37070
OTHER FINANCING SOURCES
(USES)
Operating transfers:
From other funds $
(To) other funds6�)
Total other financing 637 653
sources (uses) —)
Revenue and other financing
sources over (under)
expenditures and other 171,283;
financing uses $(
FUND BALANCE, BEGINNING 242,275
Equity transfer (out)
FUND BALANCE (DEFICIT),
ENDING 0
d k. t
���3"•, �y '.t -106-
f --
63,368
89
48
6j 3,505
S --
143,883
435
$144,318
8$( 0,813)
Water Revenue
Bonds Funded
Trust
46,990
45 6,990
26.151
25 6.151
2S 0,839 --
$ 3,695
S 3,695
$ (1,703) $ 24,534 _
45,820
(59,110) —
X11. 5(34,576) _.
.V'
Sewer
Sewer Revenue Obligationeral Bonds
Bands Funded Refunding
Trust Trust
43,791
=:79i
25.691
25 69
18,100
$ 18,100
-•
—(105,639)
r
95,643
95 643
I6 880
116 880
U21,237)
Total
$ 445,171
63,368
93,702
190,539
13,623
806.403
$ 39,215
143,883
50,889
435
168,722
L403.144
403,259
$ 82,805
—(637,653)
55 848)
$(151,589)
288,095
(166,916)
)
-107-
/bald
.9'
CITY
OF IOWA CITY, IOWA
SCHEDULE OF REVENUE, EXPENDITURES AND CHANGES
IN FUND BALANCES, NON -GAAP BASIS
BUDGET AND ACTUAL
_
ALL BUDGETED EXPENDABLE TRUST
FUNDS
Year
Ended June 30, 1987
(Page 1 of 2)
Employee
Benefits
Trust
Variance
Favorable —
Budget
Actual
(Unfavorable)
REVENUE
Property taxes
$ 438,917
$ 440,670
_
$ 1,753
Intergovernmental
Charges for services
90,630
88,189
(2,441)
Use of money and property
8,300
5,388
(2,912)
Miscellaneous
13.623
13.623
Total revenue55
37.847
547,870
_
$10,023
EXPENDITURES
Current operating:
Community protection
$ 30,500
$ 19,447
$11,053
Home and community environment
Policy and administration
69,000
49,459
19,541
Capital outlay
Debt service:
Principal
Interest
`
Total expenditures
99,500
68,906$30.594
OTHER FINANCING SOURCES (USES)
Operating transfers:
From other funds
$
$
$ _ _
(To) other funds
(663,066)
(657,176)
5,890 _
Proceeds to refund debt
Total other financing
sources (uses)
$(663,066)
$(657,176)
5,890
Revenue and other financing
sources over (under)
expenditures and other
_.
financing uses
$(224,719)
$(178,212)
546.507
FUND BALANCE, BEGINNING
— 136,454
136.454
FUND BALANCE (DEFICIT), ENDING
z
-108-
/8075 -
.V'
CITY OF IOWA CITY, IOWA
COMBINING STATEMENT OF CHANGES IN FINANCIAL POSITION
ALL PENSION TRUST FUNDS
Year Ended June 30, 1987
I;
Fire Pen sionPolice Pension
& Retirement & Retirement
Trust Trust
FINANCIAL RESOU Total
Operations:
ROES PROVIDED BY
Net income $1,088,298
Items which did not (provide),
or require outlay of, cash
and investments:
(Increase)in, accrued
interest receivable (95,775)
Increase in, accounts Payable _ 2,699
Net increase in cash and
investments 2
-103-
$983,340 $2,071,638
(88,446) (184,221)
1.514 4.213
6 8 _ 30
/SSS'
-103-
$983,340 $2,071,638
(88,446) (184,221)
1.514 4.213
6 8 _ 30
/SSS'
Cy
CITY OF IOWA CITY, IOWA
COMBINING BALANCE SHEET
ALL EXPENDABLETRUST FUNDS
June 30, 1987
104 -
Water Revenue
Bonds Funded
Trust
$598,433
10,616
0909
7,625
636,000
$643,625
3�)
3t( 4,576)
605 9.049 -
Employee
Johnson County
Benefits
Council of
Trust
Governments Trust
ASSETS
Investments
$
$39,111
Receivables:
797,807
Property taxes
93,658
Accounts
61
- -
Interest14
Due from other funds
55
11,573
Due from other governments
Total assets
LIABILITIES AND MUNICIPAL
EQUITY
Liabilities:523
Accounts payable
$ 1,676
$ 5,802
Accrued liabilities
Due to other funds
41,758
7
29 7
Deferred revenue
777,114
Interest payable
Revenue.bonds payable
General obligation bonds
payable
Total liabilities82S
0.548
$ 6,622
Municipal equity, fund
balance (deficit):
Reserved for:
Employee retirement
; 70,992
f
commitments
Johnson County Council
44,117
of Governments
Unreserved
Total fund balance
(deficit)
7$ 0,992
45 4.117
Total liabilities and
0-1m
municipal equity
MUM
104 -
Water Revenue
Bonds Funded
Trust
$598,433
10,616
0909
7,625
636,000
$643,625
3�)
3t( 4,576)
605 9.049 -
.1.
Johnson County
Council
Water Revenue
Bond
of
Government
Trust
Funded Trust
Variance
Variance
Favorable
Favorable
Budget
Actual
(Unfavorable)
Budget Actual
(Unfavorable)
5113,246
5
5(56,203)
57,043
-
89
89
3,805
(3,805)
59,345 58,837
(508)
$117,051
57,132
$(59,919)
59,345 58,837
508)
--
156,152 141,364 14,788
- 434 (434)
$156,152 41 798 14,354
$ 79,110 $ 79,110 $ - -
79,110 S 79,110 S
--
70,000 70,000
30.068 24,530 5,538
100,068 94,530 S 5,538
$ $ 96,373 $ 96,373
(96,373) (96,373)
(96,373) S 96,373
S 40,009 $ (5,556) $(45.565) $(137,096) $(35,693) 0 403
44,493 ( �44,493 ( �6�52,894 6�572,88�94
-109-
1v Ow
.o'
c�
CITY OF IOWA CITY, IOWA
SCHEDULE OF REVENUE,
EXPENDITURES AND CHANGES
IN FUND BALANCES,
NON -GAAP BASIS
BUDGET
AND ACTUAL
ALL BUDGETED EXPENDABLE TRUST
FUNDS
Year Ended
June 30, 1987
(Page 2 of 2)
Sewer Revenue Bond
Funded Trust
Variance
Favorable
Budget
Actual
(Unfavorable)
REVENUE
Property taxes
E
$
$
Intergovernmental
Charges for services
- -
Use of money and property
23,730
46,857
23,127
Miscellaneous
Total revenue
$ 23,730
$ 46,8572$
3,127
EXPENDITURES
Current operating:
Community protection
f -
$
S
Home and community environment
Policy and administration
Capital outlay
Debt service:
Principal
75,000
75,000
Interest
28,630
27,924
706
Total expenditures
$ 103,630
E 102,924
$ 706
OTHER FINANCING SOURCES (USES)
Operating transfers:
From other funds
$ 680,259
$ 783,464
$103,205
(To) other funds
(199,034)
(199,034)
Proceeds to refund debt
Total other financing
sources (uses)
5 481,225585
4,430
$103,205
Revenue and other financing
sources over (under)
expenditures and other
financing uses
E 401,325
E 528,363
SIZLO38
FUND BALANCE, BEGINNING
FUND BALANCE (DEFICIT), ENDING
��
S 528,363
o•
Sewer General Obligation Bond
Refunding Trust Total
Variance Variance
Budget Favorable Favorable
Actual (Unfavorable) Budget Actual (Unfavorable)
5 _ _ $ _ $ $ 438,917 S 440,670
$ 1,753
113,246 57,043 (56,203)
85,436 87,918 2,482 180,616 199,000 630 88,278 18,384)
BS 436 87
$2,482 S 823.409 798 614 j(24,795)
$ $ 30,500 $ 19,447 j 11,053
156,152 141,364 14,788
69,000 49,459 19,541
434 (434)
145,000 145,000
58.698 52.454 6.244
= S 459.350 S 408.158 51 192
S(396,905) $ (- ) S $ 759,369 $ 958,947 $199,578
.1721.267 172267 (1,355,378) (1,349,488) 5,890
1.721.267 _ 1.721,267
11,324,362 1 32 36 f - - 1,125,258 1,330,726 205 68
$1,409,798 $1,412,280 52,482 S 1,489,317 $ 1,721,182
523�1�86
833.841 833.841
j1�442, 1.41. 80 3 1 8 S 2,555,0
q
CITY OF IOWA CITY, IOWA
G�CONBININ6 STATEMENT OF CHANGES
IN ASSETS AND LIABILITIES
ALL AGENCY FUNDS �
Fiscal Year Ended June 30, 1987
Balance
Balance
June 30. 1986
Additions
Deletions
June 30. 1987 -
Pro.iect Green
Assets
Investments
$ 51,048
$ 51,701
$ 28,361
S 74,388
Receivables, interest
957
3,413
4,005
365
Due from other funds
- -
82
82
Total assets
5 00
S 55.196
3 3 6
4 835
Liabilities
Accounts payable
$ 10,234
$ 26,120
$ 32,339
S 4,015
Due to agency
41.771
51.551
22.502
70.820
Total liabilities
S 52.005
E 54.9
gg _
Mayor's Youth Employment
-
Program
Assets
Investments
S 4,088
$ 96,265
$ 91,334
S 9,019 -
Receivables, interest
129
172
285
16
Due from other funds
4
4 -
Due from other
governments
3.673
35.198
29.270
9,601
Total assets
6 0
63
8 640 -
Liabilities
Accounts payable
$ 379
$ 15,062
$ 15,286
$ 155
Accrued liabilities
6,127
96,882
89,270
13,739 _
Due to other funds
37
2,343
715
1,665
Due to agency
1.347
100.462
98.728
3.081
Total liabilities
S 7.890]g�g.
5203.99
8 6 0
Library Foundation
Foundation
Assets
V
Investments
$119,995
$188,155
$ 52,680
$255,470
Receivables, interest
2,545
12,428
13,520
1,453
Due from other funds
327
327
Total assetsQO�]
S 66.200
50 -
Liabilities
Accounts payable
$ 627
$ 13,375
$ 13,893
$ 109 -
Accrued liabilities
492
28,184
27,532
1,144
Due to other funds
34
13,318
13,352
Due to agency
121,387
168.234
53.624
255.997 -
Total liabilities
5122.540
X3,11
108.401
5257.25
'-,;a ./•-y i '.,
-112-
_
.O'
Balance
Balance
June 30, 1986
Additions
Deletions
June 30, 1987
Eldercraft Shoppe
Assets
Investments
E 4,720
E 609
E 1,781
$ 3,548
Receivables, interest
125
326
427
24
Due from other funds
5
5
Total assets
S 4,845
S 2,208
5 3,577
Liabilities
Accounts payable
$ --
E 1,420
$ 1,417
$ 3
Due to other funds
3
404
405
2
Due to agency
4,842
549
1.819
3,572
Total liabilities
5 4.845
2,373
S 3,641
S 3,577
Emolovee Deferred
Compensation
Assets
Investments
$607,675
$273,587
12,216
$869,046
Total assets
607.675
5273,587
S 12.216
HA9.-Q46
Liabilities
Deferred compensation
payable
$607,675
$273,587$
2,216
$869,046
Total liabilities
5607.675
5273,5877
5869.046
y Total
Assets
Investments
$787,526
$610,317
$186,372
$1,211,471
Receivables, interest
3,756
16,339
18,237
1,858
Due from other funds
418
418
Due from other
- governments
3,673
35,198
29,270
9,601
Total assets
#J�g,Q6
5662.272
�7
51.223. 8
_ Liabilities
Accounts payable
$ 11,240
$ 55,977
$ 62,935
$ 4,282
Accrued liabilities
6,619
125,066
116,802
14,883
Due to other funds
74
16,065
14,472
1,667
- Due to agency
169,347
340,796
176,673
333,470
Deferred compensation
payable
607,675
273,587
12,216
HMO
- Total liabilities
-
-113-
.o•
CITYOF10WA CITY
-114-
/bas
.o•
0
CITY OF IOWA CITY, IOWA
SPECIAL ASSESSMENT COLLECTIONS
Last Ten Fiscal Years
Fiscal Year
Current
AssessmMS
Duel
Current
Assessments
Collected*(1)
Ratio of
Collection
Total
Outstanding
to Amount Due
Assessments(l)
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
405,179
1985-86
52,827
83,017
157
731,452
1986-87
80,371
106,462
132
614,990
Note:
*The current assessment collected includes the amounts collected on the current
assessments, past due assessments and the future installments.
Source:
(l)Johnson County Treasurer's Office
-115-
.Y'
CITY OF IOWA CITY, IOWA
GENERAL GOVERNMENTAlast Ten F7UREa ANDl e rTRANSFERS BY FUNCTION
Leisure and
Fire
TransportationCul
General tural
po�e 51,401,058 —
Fisca�e=r 894,204 $1,808,485
1977-78**
$2,066,211 $1,064,34 56 911,030 2,347,254 1,329,903
2,255,513 1,142,74
1978-79 1,215,181 2,362.151 1,502,101
2,753,291 1,495,435 1,845,378
1980-81
1979-80 1,287,162 3,208,192
2,737,624 1,753,471 1,764,287 1,508,122 2,094,305
1981-82 1,734,394
2,473,827 1,863,584 1,405,074 2,317,470
1982-83 1,784,711
2,952,670 1,838,585 1,409,738 2,591,485
3,602,827 2,073,938 2,761,521
31522,935 1983-84 1,407,355 1,888,675 _
,522935 2,175,223 3,126,809
1984-85 1,565,839 1,946,445
4,261,394 2,340,183 2993,953
1986-87
1985-86 2,020,871 1,888,190
4,388,307 2,571,726
—
Notes: Special Revenue Funds.
Debt Service Fund and Sp whereas later years —
*Includes General Fund, computed on a cash basis,
*.Fiscal years 1978 1979 and prior were
were computed on a modified accrual basis.
-116- ig�s
.o•
•
Community
Other
Shared
Urban
Development
Federal
Development
Block Grant
Revenue
and Grants
Action
Grant
Revenue
Debt
Sharing
Service
Transfers
Total
$4,227,446
$282,816
$
$2,922
$1,116,351
$2,105,275
$14,969,085
950,843
163,987
- -
1,291,755
2,690,922
13,083,953
2,127,735
186,510
- -
- -
1,238,846
2,263,960
15,145,210
2,818,350
184,374
- -
- -
1,192,642
2,115,270
17,142,463
1,143,788
25,478
- -
- -
1,523,672
2,711,145
15,108,808
1,224,944
139,742
- -
- -
1,595,353
2,786,392
15,994,624
1,034,447
49,970
- -
443
1,575,052
2,705,233
16,827,844
561,209
62,146
- -
- -
1,785,773
3,249,739
17,414,576
802,524
163,533
- -
697
1,934,725
3,061,493
19,203,642
775,607
180,672
100,000
764
2,733,690
2,991,636
20,645,416
117-
/8;?s
.o•
O
CITY OF IOWA CITY, IOWA
GENERAL GOVERNMENTAL* REVENUES AND TRANSFERS BY SOURCE
Last Ten Fiscal Years
Fiscal Year
1977-78**
1978-79**
1979-80
1980-81
1981-82
1982-83
1983-84
1984-85
1985-86
1986-87
Taxes
$ 4,638,290
5,159,698
6,259,040
7,457,729
7,325,605
8,248,364
8,273,028
8,858 968
9,865,284
10,888,383
Licenses and
permits
$213,304
208,312
238,864
200,159
223,143
314 665`
343 605_
243,680
310,341 >
332,213
Fines and
Forfeitures
$305,470
259,954
246,222
205,172
>
272,462
285,157
311,117
328,934
365,709
345,455
Char es for
9
Services
$ 7
1,122,183
1,306,648
1,550,379
978,713
1,068,234
1,296,247
1,319,445
1,472,637
1,641,669
Intergov-
ernmental —
Revenue
$4,633,781 --
3,381,632
4,478,383
—
5,463,234
4,095,214
4,075,418
3,736,106
3,662,155 '-
4,000,077
3,854,607
Notes;
`
*Includes General Fund, Debt
**Fiscal years 1978-1979 and
were computed on a modified
Service Fund and Special Revenue Funds.
prior were computed on a cash basis, whereas
accrual basis.
_
later years
-118' /gas —
.1.
s
Use of
Total
Money and
Miscellaneous
Property
Revenue
$160,049
$1,764,714
151,447
1,117,892
278,314
512,293
245,185
399,434
279,156
299,823
220,103
723,259
242,139
569,205
264,097
500,553
258,539
338,044
424,063
581,209
Transfers
Total
$2,161,860
$14,646,478
1,937,959
13,339,077
2,122,937
15,442,701
1,801,839
17,323,131
1,519,013
14,993,129
1,744,884
16,680,084
1,749,899
16,521,346
2,443,657
17,621,489
2,249,003
18,859,634
2,860,066
20,927,665
-119-
/8gas
s'
CITY OF IOWA
CITY, IOWA
9
`
PROPERTY
TAX LEVIES
AND COLLECTIONS
e
Last Ten Fiscal Years
(cash basis)
Assessment
Date
Collection
TotalPercent
Current Tax
of Levy
Delinquent
Total as a
Year
Tax Levy
Collections
Collected
Tax
Collections
Total Tax
Collections
Percent of
1976
1977-78
$ 4,955,262
$ 4,969,801
100.3
Current Levy
1977
1978-79
5,676,460
b 44,823
$ 5,014,624
101.2
!
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
1979
1980-81
7,463,393
7,393,546
99.1
6,270,913
100.1
.'..
0
1980
1981-82
7,802,216
7
7,82,739
48,656
7,442,202
99.7
'
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
1982
1983-84
8,876,784
8,773,320
98.8
98,127
100.5
1983
1984-85
9,505,174
9,342,941
98.3
8,871,441
99.9
101,881
9,444,822
99.4
1984
1985-86
10,480,248
10,288,375
98.2
132,517
10,420,892
1985
1986-87
11,255,992
11,001,522
97.7
231,481
99,4
11,233,003
99,8
95
o.
i
P]
_ CITY OF IOWA CITY, IOWA
PROPERTY TAX RATES - ALL OVERLAPPING GOVERNMENTS(')
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
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
1979-80 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
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
1985-86 11.247 10.885 4.894 .445 .010 27.481 39.6
1986-87 11.381 10.609' 4.915 .445 .005 27.355 38.8
Notes:
"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:
(1)"Tax Levies for Johnson County, Iowa," compiled by the Johnson County Auditor
.o•
.Y'
CITY OF IOWA CITY, IOWA
NOTES: _
*As per the Code of Iowa, Volume II, Chapter 441, paragraph 441.21 l.a., "All real and
tangible personal property subject to taxation shall be valued at its actual value
which shall be entered opposite each item, and, except as otherwise provided in this
section, shall be assessed at one hundred percent of its actual value, and the value
so assessed shall be taken and considered as the assessed value and taxable value of
the property upon which the levy shall be made."
**In 1971 the state government began taxing banks and supplying the taxing agencies
with a replacement of the monies and credits tax. The value of monies and credits
for those institutions was excluded from the estimated actual value total. _
kThe utilities value included in this figure is as of 1986, since this value is not
calculated by the assessor's office until December of each year.
"Property was reassessed in 1985, therefore creating a substantial increase in the
non-taxable property value. _
*OPersonal Property Tax will be eliminated in 1988.
Source:
(I)City of Iowa City Assessor's Office
-122- 1 004;s —
ASSESSED
AND ESTIMATED ACTUAL VALUE OF TAXABLE
PROPERTY
AND NON-TAXABLE PROPEJ{y*
—
Last Ten Fiscal
Years `1)
Real Property
Personal Property
Total
Assessed Value/
Assessed Value/
_
Assessed Value/
Assessment
Collection
Estimated
Actual Value
Estimated
Actual Value
Estimated
Actual Value
Year
Year
—
1978
1979-80
$ 512,809,267
$31,127,990
$ 543,937,257
1979
1980-81
592,608,447
31,127,903
623,736,350
1980
1981-82
801,232,944
31,127,990
832,360,934
1981
1982-83
885,505,416
31,127,919
916,633,335 —
1982
1983-84
929,852,149
31,127,911
960,980,060
_
1983
1984-85
1,093,527,819
31,127,903
1,124,655,722
1984
1985-86
1,139,387,378
31,127,851
1,170,515,229 _
1985
1986-87
1,217,907,203
31,127,932
1,249,035,135 _.
1986
1987-88
1,246,381,671
- *#
1,246,381,671 _
1987
1988-89
1,284,010,028
- *#
1,284,010,028 —
NOTES: _
*As per the Code of Iowa, Volume II, Chapter 441, paragraph 441.21 l.a., "All real and
tangible personal property subject to taxation shall be valued at its actual value
which shall be entered opposite each item, and, except as otherwise provided in this
section, shall be assessed at one hundred percent of its actual value, and the value
so assessed shall be taken and considered as the assessed value and taxable value of
the property upon which the levy shall be made."
**In 1971 the state government began taxing banks and supplying the taxing agencies
with a replacement of the monies and credits tax. The value of monies and credits
for those institutions was excluded from the estimated actual value total. _
kThe utilities value included in this figure is as of 1986, since this value is not
calculated by the assessor's office until December of each year.
"Property was reassessed in 1985, therefore creating a substantial increase in the
non-taxable property value. _
*OPersonal Property Tax will be eliminated in 1988.
Source:
(I)City of Iowa City Assessor's Office
-122- 1 004;s —
.1.
Monies and Credits**
$28,494
20,500
21,307
28,897
43,263
30,148
29,177
28,816
28,816
28,416
Non -Taxable
Property Value
$38,367,838
38,469,858
38,643,728
44,886,610
46,936,910
48,265,500
48,265,500
50,934,100
60,943,030"
60,986,750
-123-
/rjuoo�
o•
CITY OF IOWA CITY, IOWA
PROPERTY VALUE, BUILDING PERMITS AND BANK DEPOSITS
Last Ten Fiscal Years
New Construction(l) Remodeling
um er Repair and Additions 1) _
Fiscal Year, a ue * Number Value
� of Pests of Permits Bank
Of Permits
1977-78 � of Permits*303 $18,853,521 •--
-- Oep— 05
1978-79 349 $3,334,677 $331,950,890
253 19,634,137 358
1979_80 5,373,034 357,228,954
243 26,221,404 359
1980-81 q+720,415 393,098,669
195 16,795,575 294
1981-82 6,385,303 423,724,320
186 19,673,484 233
1982-83 3+222,168 474,105,060
305 31,198,875 221
1983-84 8,091,860 554,556,185
322 39,031,017 230
1984-85 4,533,696 678,458,975 ti
152 15,007,197 302 r —'
1985-86 160 5,879+171 618,214,939
17,628,326 265
1986-87 5,961,549 646,741,161
178 12,749,684 321
Note: 7,418,621 530,662,591
*Permit values are based on estimated construction costs.
Source:
(2)LocaloBankwOfficea City sBuilding Inspection Department
(3)City of Iowa City Assessor's Office _
.4 �#'t. i
. Meii4 ,
e
-124-
.1.
Property Value(3)
mea
ersona
on- axa a**
$ 512,809,267
$31,127,990
$38,367,838
592,608,447
31,127,903
38,469,858
801,232,944
31,127,990
38,643,728
885,505,416
31,127,919
44,886,610
929,852,149
31,127,911
46,936,910
1,093,527,819
31,127,903
48,265,500
1,139,387,378
31,127,851
48,265,500
1,217,907,203
31,127,932
50,934,100
1,246,381,671
- -
60,943,030
1,284,010,028
- -
60,986,750
125-
CITY OF IOWA CITY, IOWA
k N. RATIO OF NET GENERAL BONDED DEBT
TO ASSESSED VALUE AND NET BONDED DEBT PER CAPITA
Last Ten Fiscal Years
Source:
(')City of Iowa City Assessor's Office
W
Ratio
of Net
Net Bonded
Assessment
Date
Population
Assessed
Gross
Debt Due
Debt Service
Net
Bonded
Debt to
Debt
Value(')
Bonded Debt
and Unpaid
Fund Balance
Bonded Debt
Assessed Value
Per Capita
I 1978
47,744
$ 543,937,257
$ 5,966,000
-
$ (86,514)
$ 6,052,514
.0111
to 1
$126.77
j1979
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
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
m 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
1,246,381,671
13,625,000
-
473,948
13,151,052
.0106
to 1
260.38
1987
50,508
1,284,010,028
18,055,000
105,000
123,390
17,826,610
.0139
to 1
352.95
Source:
(')City of Iowa City Assessor's Office
W
o•
r
COMPUTATION OF LEGAL DEBT MARGIN
June 30, 1987
Total assessed valuation
Debt limit, 5% of total assessed valuation
Debt applicable to debt limit
Legal debt margin
Source:
(I)Johnson County Auditor's Office
41,2841010,028
$64,200,501
18,211,124
445,989,377
CITY OF IOWA CITY, IOWA
COMPUTATION OF DIRECT AND OVERLAPPING DEBT
s' •
June 30, 1987
0�
Total General
Obligation
Debt
% Applicable to this(1)
Iowa City
Name of Governmental Unit
Outstanding
Governmental Unit
Share of Debt
Per Capita
City of Iowa CM
$18,55,000
158.66%
$18,55,000 017,320
$357.37
Johnson County
00,000
Total
£18,255,000
$18,.172,320
4359_79
Per capita assessed value
425=421_91
r
COMPUTATION OF LEGAL DEBT MARGIN
June 30, 1987
Total assessed valuation
Debt limit, 5% of total assessed valuation
Debt applicable to debt limit
Legal debt margin
Source:
(I)Johnson County Auditor's Office
41,2841010,028
$64,200,501
18,211,124
445,989,377
.P'
•
CITY OF IOWA CITY, IOWA
RATIO OF ANNUAL DEBT
GENERAL SERVICE EXPENDITURES FOR
BONDED DEBT TO TOTAL GENERAL* EXPENDITURES
Last Ten Fiscal Years
Lear
Principal Total
�� Int Debt Se
Total Genera) Ratio of Debt
1917-7g** $
844,00o $ 272,351 Ex enditures Excentoturesral
1978-79** 1,009 $1,116,351 $ 9,200,611
000 282,755 1,291,755 •121 to 1
1979-80 723,890 10,562,990
514,956 1,238,846 •122 to 1
1980-81 698,900 10,567,006
493,742 1,192,642 111 to 1
1981-82 1,010,350 12,024,469
513,322 1,523,672 •099 to 1
1982-83 1,036,71311,228,398
558,640 1,595,353 •136 to 1
1983-84 9qg 799 11,843,546
626,253 1,575,052 135 to I
1984-85 1,203,720 13,037,150
582,053 1,785,173 •121 to 1
1985-86 1,278,670 13,541,482
656,055 1,934,725 •132 to 1
1986-87 1,709,623 1,024,067 15,175,395 _
2,133,690 •121 to 1
Notes; 16,596,737
.165 to 1
� *General expenditures~_
are those made out of the General and Debt
**Fiscal years 1978-1979 and prior
were computed on a modified accrual Service Funds•
were computed on a cash basis, where as
basis.
later years
128-
11A SO
28-
/dAs
CITY OF IOWA CITY, IOWA
SUMMARY OF BONDED INDEBTEDNESS
DEBT SERVICE REQUIREMENTS TO MATURITY (INCLUDING INTEREST)
M ♦_SAS �l �' -129- ����
Year
Special
_
Ended
General
Capital
Assessment
Revenue
June 30
Obligation
Leases
Bonds
Bonds
Total
_
1988
$ 3,535,400
$ 70,113
$ 56,000
$ 3,648,388
$ 7,309,901
1989
3,455,900
35,839
52,000
3,640,938
7,184,677
1990
2,944,725
35,839
48,000
4,262,963
7,291,527
1991
2,840,750
35,839
44,000
4,190,112
7,110,701
1992
2,707,425
- -
- -
4,247,645
6,955,070
�J
1993
1,695,850
- -
- -
4,237,707
5,933,557
1994
1,633,925
- -
- -
4,231,803
5,865,728
r
1995
1,243,050
- -
- -
4,238,480
5,481,530
1996
1,201,725
- -
- -
4,213,017
5,414,742
1997
682,850
- -
- -
4,195,685
4,878,535
1998
524,350
- -
- -
4,209,315
4,733,665
1999
523,850
- -
- -
4,193,072
4,716,922
V
2000
521,250
-
4,182,092
4,703,342
2001
516,500
- -
- -
4,180,015
4,696,515
2002
535,000
- -
- -
4,166,075
4,701,075
_
2003
- -
3,995,725
3,995,725
2004
3,988,250
3,988,250
2005
2006
- -
- -
- -
3,540,025
3,540,025
-
3,541,825
3,541,825
2007
- -
- -
- -
3,531,925
3,531,925
2008
3,534,350
3,534,350
2009
- -
- -
- -
3,547,150
3,547,150
—
2010
- -
- -
- -
3,544,350
3,544,350
2011
- -
- -
- -
3,549,975
3,549,975
.,
2013
-
_ -
3,538,050
3,538,050
_
.
_ _
3,532,600
3,532,600
!2415621550
$177,630
52001000
51011881=532
$12618211712
i
M ♦_SAS �l �' -129- ����
.a•
CITY OF IOWA CITY, IOWA
SCHEDULE OF REVENUE BOND COVERAGE
Last Ten Fiscal Years
Parkins Revenue
Sewer Revenue
1977-78*
$ 855,256
$393,529
Net Revenue
$50,000
$ 47,222
$ 97,222
4.7
Fiscal
947,758
515,847
Available for
Debt
Service
Requirements
Year
Revenue
Expense
Debt Service
Principal
Interest
Total
Coverage
1977-78*
$ 574,708
$109,592
$ 465,116
$
$ -
$ -
-
1978-79*
553,675
119,946
433,729
-
60,000
- -
98,664
1979-80
661,389
133,344
528,045
872,233
371,222
371,222
1.4
1980-81
873,327
355,284
518,043
837,037
342,665
342,665
1.5
1981-82
1,059,477
550,285
509,192
944,501
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
1986-87
1,946,716
908,235
1,038,481
60,000
490,388
550,388
1.9
Sewer Revenue
1977-78*
$ 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
1986-87
4,774,623
978,509
3,796,114
- -
1,259,498
1,259,498
3.0
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.
130-
.P'
CITY OF IOWA CITY, IOWA
DEMOGRAPHIC STATISTICS
Last Ten Fiscal Years*
Retail SalgS
(Approx.)
$ 34,993,000
46,607,000
84,322,000
125,920,000
215,305,000
School Enrollment
Unemployment
Fiscal YearPublic
Median
Rate(4)
Calendar
Populaa
Per Capitt
Income`)
Medid
Age"
Family
Income(1)
Educatip�
Level**?T)
Year
tion
3.5
1981
8,256 615
4.7
1950
27,212
***
25.3
$ 3,245
68.1%
1960
33,443
1,914
24.1
5,769
69.5
1970
46,850
3,025
22.6
9,942
82.1
1974
47,744
4,465
23.4
9,942
82.1
1980
50,508
7,247
24.6
22,325
89.5
Retail SalgS
(Approx.)
$ 34,993,000
46,607,000
84,322,000
125,920,000
215,305,000
Source:
MU .S. Department of Commerce, Bureau of the Census
(2)fowa City Community School District Office
(3)Local Private School Office
(4)Job Service of Iowa
131-
807r
School Enrollment
Unemployment
Fiscal YearPublic
2) aie(3)
Rate(4)
1978
8,651 735
2.4
1979
8,371 701
2.7
1980
8,451 637
3.5
1981
8,256 615
4.7
1982
8,259 635
4.2
1983
8,226 632
3.7
1984
8,278 613
2.9
1985
8,222 617
1.9
1986
8,355 611
2.1
1987
8,595 616
1.7
Notes:
*Ten years
of information is presented
where available.
**Percent of
population completing 12 years of formal schooling or more.
***Information
not available.
Source:
MU .S. Department of Commerce, Bureau of the Census
(2)fowa City Community School District Office
(3)Local Private School Office
(4)Job Service of Iowa
131-
807r
CITY OF IOWA CITY, IOWA
MISCELLANEOUS STATISTICAL DATA _
Fiscal Year Ended June 30, 1987
Date of incorporation
April 6, 1853
Form of government
Council/Manager _
Area
14,080 acres
Miles of streets:
—
Paved (approx.)
172
Unpaved (approx.)
12
Number of street lights
2,224
Police protection:
Number of stations
1
Number of employees
53
Fire protection:
—
Number of stations
3
Number of employees
50 `
Municipal water department:
Number of customers
14,003
Average daily consumption (in gallons)
6,260,400
Miles of water mains (approx.)
179
Sewers:
`
Lift stations
14
Miles of sanitary sewers (approx.)
157 _
Cemetery
1
Recreation:
_
Municipal Parks -
Number of parks
30
Number of acres
572
Municipal swimming pools
2 -
Golf courses (non -municipal)
3
Other municipal facilities:
Recreation Center
1 —
Ball diamonds
20
Tennis courts
12
Senior Center
1 _
C • t . ✓s `• -132-
.Y'
s
CITY OF IOWA CITY, IOWA
MISCELLANEOUS STATISTICAL DATA
Fiscal Year Ended June 30, 1987
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 - 1986:
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
a.,.
sh
.t
-133-
1
169,266
17
3
3
1
1
1
3
468
261
36,663
16,680
45.5%
33,216
4,574
13.8%
/gas
a
CITY OF IOWA CITY, IOWA
PRINCIPAL TAXPAYERS AND EMPLOYERS
Fiscal Year Ended June 30, 1987
Twelve largest taxpayers(l):
Iowa -Illinois Gas & Electric(2)
James & Loretta Clark
& Per.tacrest Garden
Procter & Gamble
Old Capitol Center Partners
Owens Brush
American College Testing
H.P. Smith
Northwestern Bell Telephone
Holiday Inn
Seville, Inc.
Sycamore Mall
NCS Learning Corp.
TOTAL
Type of Business
Public Utility
Apartments
Personal Products
Manufacturing
Shopping Center
Brush Manufacturing
Educational Testing Service
Paper Manufacturing
Public Utility
Motel
Real Estate Developer
Shopping Center
Computer Service
Ten major employers(3):
(including full and part-time employees):
University of Iowa
Veterans Administration Hospital
Iowa City Community Schools
Sheller -Globe
City of Iowa City
National Computer Systems
Mercy Hospital
American College Testing
Procter and Gamble
Johnson County
Sources:
(1)City of Iowa City Assessor's Office
(2)Johnson County Auditor's Office
3 Job Service of Iowa and the respective employer
-134-
Taxable Valuation
$ 58,692,044
14,956,694
14,242,497
11,792,250
9,951,507
9,923,894
8,426,745
7,367,837
7,903,730
7,062,012
6,752,640
6,495,707
1163,567,557
16,276
1,314
1,121
1,050
726
705
677
618
447
443
.-pISO
.V'
-135-
/4?lps
CITY OF IOWA CITY
COMPARATIVE SUMMARY OF NET
ASSETS AVAILABLE
FOR BENEFITS
AND TOTAL ACTUARIAL PRESENT VALUE
OF CREDITED PROJECTED
BENEFITS
- PENSION TRUST FUNDS
Last Eight Fiscal
Years
"
Total Actuarial
Net Assets
Present Value
-
Fiscal
Available for
of Credited
Year
Benefits
Projected Benefits
Percentage
Fire Pension and
1979-80
$1,980,098
$3,693,203
53.6%
Retirement Fund
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
7,397,592
78.0
1986-87
6,860,938
8,427,240
81.4
Police Pension and
1979-80
$1,864,537
$2,662,984
70.0%
Retirement Fund
1980-81
2,149,567
2,991,764
71.8
j
1981-82
2,610,684
3,433,790
76.0
1982-33
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
5,104,070
101.6
1986-87
6,169,600
6,055,089
101.9
COMPARATIVE SUMMARY OF UNFUNDED ACTUARIAL
PRESENT VALUE OF CREDITED PROJECTED BENEFITS AND
ANNUAL ACTIVE
MEMBER PAYROLL - PENSION TRUST FUNDS
Last Eight Fiscal
Years
Unfunded Actuarial
Present Value
Fiscal
of Projected
Annual Active
f
Year
Benefits
Member Payroll
Percentage
Fire Pension and
Retirement
1979-80
$1,713,105
; 849,593
201.6%
Fund
1980-81
1,809,874
893,801
202.4
1981-82
1,869,298
1,012,851
184.5
1982-83
2,008,833
1,081,968
184.6
1983-84
1,944,032
1,166,161
166.7
1984-85
1,526,161
1,203,434
126.8
1985-86
1,624,952
1,223,839
132.8
1986-87
1,566,302
1,250,645
125.2
Police Pension and
1979-80
$ 798,447
$ 836,788
95.4%
Retirement Fund
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
1986-87
1,488,839
-135-
/4?lps
•o•
Fire Pension and
Retirement Fund
Police Pension
and Retirement
Fund
Fire Pension and
Retirement Fund
Police Pension and
Retirement Fund
CITY OF IOWA CITY, IOWA
COMPARATIVE SUMMARY OF REVENUE BY SOURCE - PENSION TRUST FUNDS
Last Eight Fiscal Years
Fiscal Member Employer State
Year Contributions Contributions Contributions Income
Innt
1979-80
1980-81
$18,776
19,753
$293,604
E 29069
1981-82
22,384
284,517
328,948
33,
33,668888
1982-83
33,721
361,674
33,896
1983-84
1984-85
36,151
37 310
371
33,143
43,210
1985-86
37,939
371,801
801
381,251
43,872
1986-87
38,770
388,579
46,785
1986-87
253,562
305,420
1,827
42,245
1979-80
1980-81
$18,493
21,434
$214,904
$20,939
1981-82
22,787
229,356
258,675
23,458
1982-83
1983-84
36,752
286,382
26,362
26,695
1984-85
40,408
42,979
282,515
262,355
34,201
1985-86
1986-87
44,454
253,604
36,251
40,186
1985-86
46,154
262,872
37,102
Total
$141,944 $483,393 '
209,216 547,174 _
278,272 663,500
387,024 816,168
432,097 890,814
634,538 1,087,521
533,262 999,237 _
925,951 1,395,545
$163,098 $417,434
152,654 426,902
252,795 560,619
342,152 691,981
391,417 748,541
564,274 905,859
476,046 814,290 ._.
833,620 1,179,748
COMPARATIVE SUMMARY OF EXPENSES BY TYPE - PENSION TRUST FUNDS
Last Eight Fiscal Years
Fiscal
Year
Administrative
Benefits
Expenses
Total
1980-80
$136,497
146,359
$ 684
$137,181
1981-82
1982-83
159,452
423
1,051
146,782
160,503
1983-84
199,652
221,810
562
5,040
200,214
1984-8 5
1985-86
228,473
851
226,850
229,324
1986-87
253,562
305,420
1,827
56
307,247
1980-810
$ 83,180
90 094
$ 449
$ 83,629
1981-82
95,
51,778
4,395
141,872
1982-83
1983-84
118,51722
134,250
595
99,502
119,167
1984-85
150,097
11,778
420
146,028
1985-86
169,383
150,517
1986-87
182,575
13,833
169,383
196,408
136 -
/bar
CITY OF IOWA CITY, IOWA
COMPARATIVE SUMMARY OF ACTUARIAL PENSION BENEFIT OBLIGATION VALUES AND
PERCENTAGE COVERED BY NET ASSETS AVAILABLE FOR BENEFITS -
PENSION TRUST FUNDS
Last Eight Fiscal Years
Percentage
of Actuarial
Present Pension Benefit
j Net Assets Value of Obligation
Current
Available Active Values Covered
Fiscal Net Assets Retirants' and for Members' by Net Assets
Available for Beneficiaries' Active Current Available for
Year Benefits Members
Liability Benefits Pension Active Members'
� Fire Pension and 1919-80$1,980,098�- Liability Benefits
Retirement Fund 1980-81 #1,831,696 b 142,402
1981-82 2,380,490 2,025,619 354871 $1,440,334 10%
1982-83 3,504,804 2,205;463 678,024 2,072,330 1,745,421 20
V 1983-84 4,168,768 3,035 492 873,312 2 365 216 33
1984-85 5,026,965 '115 1,133,593 2,558,640 37
1985-86 5,772,640 2,951,651 2,075,314 2,929,240 44
1986-87 6,860,938 4�689�009 1,814,368 2,762,100 71
66
Police Pension and 2'111,929 3,011,316
1979-81 51,864,531 b 910 956 72
Retirement Fund 1980-81 2,149 5G7 5 953 581 51,322 025
1981-82 2,610,684 1'209,669 648 1015,898 1,493,368 69%
1982-83 3,183,498 1'421'823 1,401,036 1,777,287
68
1983-84 3,786 011 1,755,675 1,882,987 19
1984-85 4,541353 1.789,149 1,996,862 1,804,140 93
1985-86 5,186260 1736,659 2,804,694 2,083 739 100
1986-87 6,169600 2,164,488 3,021,772 2,269,588 100
2,574,179 3,595,421 2,730,191 100
` 100
i
CITY OFIOu7A CITY
-138-
a
CITY OF IOWA CITY, IONA
INVESTMENT PERFORMANCE MEASUREMENTS -
PENSION TRUST FUNDS
COMPARATIVE RATES OF RETURN
ON FIXED INCOME SECURITIES*
Fiscal Year Ended June 30, 1987
PoliceePensionnandeRetirementuFund
13.79%
13.79q,
Comparison Indexes
5 -Year Treasury Index(l)
8.04%
*These rates, including the indexes, are exclusive of unrealized
losses.
gains or
Source:
(1)Moody's Bond Survey
139.
.o•
s
CITY OF IOWA CITY, IOWA
SCHEDULE OF LIABILITY AND PROPERTY INSURANCE IN FORCE
June 30, 1987
Insurance Company
LIABILITY AND PROPERTY:
All Lines Aggregate Program:
Lloyd's of London 85%
Northfield Insurance 15%
National Security Corporation
National Security Corporation
St. Paul Surplus Lines Insurance Co
National Union Fire Insurance Co
Western World Insurance Company
United States Aviation Underwriters,
Inc.
Travelers Insurance Company
State Farm Insurance Company
FIDELITY BONDS:
Har or nsurance Company
*Subject to audit.
Type of Coverage
Comprehensive general liability, auto
liability and police professional liability.
Public officials errors and omissions
liability.
Real and personal property, vehicle damage,
electronic data processing equipment, and
contractor's equipment.
Excess layer over the $500,000 property
primary coverage.
Excess layer over the $500,000 property
difference to conditions (DIC) primary
coverage.
Excess layer over the $250,000 comprehensive
general liability, auto liability and police
professional liability primary coverage.
Excess layer over the $50,000 public
officials errors and omissions liability
primary coverage.
Liability for the Fire Department First
Responder Program.
Airport and hangarkeeper's liability.
Boiler and machinery coverage at eight
locations.
Public Housing comprehensive general
liability and property.
Public employees blanket bond
City Treasurer
Finance Director
Assistant Finance Director
140- /gis
.o•
rz
_ Limits o�rage
Term of
Annual
Policy
Premium*
$250,000 Combined Single Limit - claims made
— $50,000 self-insured retention (SIR)
6/87 thru 6/88
307,907
$50,000 claims made - $50,000 SIR -
$250,000 aggregate
6/87 thru 6/88
- $500,000/occurrence - $50,000 SIR
6/87 thru 6/88
$66,046,246 value limit -$11,021,150 maximum/
t location
6/87 thru 6/88
" $66,046,246 value limit -$11,021,150 maximum/
location, $10,000,000 annual
6/87 thru 6/88
aggregate
$1,750,000 aggregate claims made except auto
f I liability is combined single limit
~
6/87 thru 6/88
208,550
$1,000,000 aggregate claims made
i
6/87 thru 6/88
30,834
$1,000,000/occurrence; $1,000,000 annual
aggregate
10/86 thru 10/87
1,861
$10,000,000/Owner's, Landlord's & Tenants
form occurrence; $1,000,000/aircraft
4/87 thru 4/88
12,500
$1,000,000/occurrence
6/87 thru 6/88
3,610
$500,000/occurrence - liability; $2,276,400
property limit
10/86 thru 10/87
5,247
$50,000 honesty blanket bond/all employees;
$400,000/City Treasurer;
6/87 thru 6/88
— $400,000/Finance Director
6/87 thru 6/88
5,583
1,400
$400,000/Assistant Finance Director
6/87 thru 6/88
1,400
10/86 thru 10/87
1,400
-141-
/rPs
1976-77
1977-78
1978-79
1979-80
1980-81
L 1981-82
A
v 1982-83
1983-84
1984-85
1985-86
1986-87
CITY OF IOWA CITY, IOWA
PARKING RATES
Last Ten Fiscal Years
(In Dollars)
On -Street
Off -Street
CBD
Municipal
Meters
Meters
Meters
Lot
(per hour)
(eer hour)
(eer hour)
(eer 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
.30
.30
.40
- -b
Permits
Commercial/Employee (per month
Ramps
PeripheralOvertime
CBD
Parking
(P )
(per hour
Lots
Ramps
Lots
Violation
$'
$10/ 5
$ -
$10/5
$2.00
10/ 5
-
10/5
2.00
-
12/ 6
-
12/6
2.00
•25
16/ 8
27.50/ 8.00
20/8
2.00
.25
16/ 8
27.50/ 8.00
20/8
2.00
.25
16/ 8
27.50/ 8.00
20/8
2.00
.25c
16/ 8
27.50/ 8.00
20/8
2.00
.25c
16/ 8
27.50/ 8.00
-
2.00
.35d
20/10
32.50/10.00
-
2.00
•40e
30/15
40.00/ - -f
- -
3.00
.40e
30/15
40.00/ - -f
-
3.00
a. 1 hour = $.15; 2 hours = $.45; 3 hours = $.90; over 3 hours = $2.50.
b. Municipal lot was closed to commercial parking.
c. Flat rate of $.50 when cashier is not on duty.
d. First hour rate; subsequent hours rate $.30.
e. Flat rate of $.75 when cashier is not on duty.
f. Employee permits discontinued in ramps.
o Source: Department of Finance
Note: CDD refers to Central Business District.
i
s
u
.. McGLADREY
Hendrickson
& Pullen
CERTIFIED PUBLIC ACCOUNTANTS
1
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, 1987, and have issued our report
thereon dated October 21, 1987. 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
�I 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.
I—, Our examination vas 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
�I 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. J •J
Iowa City, Iowa
October 21, 1987
.o•
i —
1
i
i
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—143—
/Aor
CITY OF IOWA CITY, IOWA
SCHEDULE OF FEDERAL AND STATE FINANCIAL ASSISTANCE PROGRAMS
June 30, 1987
Grant Title
DIRECT FEDERAL PROGRAMS:
Department of
Community Development Block Grant:
Housing and
Metro Entitlement
Urban Development
Metro Entitlement
Metro Entitlement
14.218
Rental Rehabilitation Pg.
$ 35,067
Rental Rehabilitation Pg.
B -86 -MC -19-0009
Rental Rehabilitation Pg.
14.218
Public Housing Administration
63,048
Section 8 Existing
R -84 -MC -19-0203
Section 8 Voucher Program
14.230
Low Rent Public Housing Operations
Department of
Transportation
SII
Department of
Treasury
o• ,
O
Fair Housing Assistance Cooperative Agree.
FY84
Fair Housing Assistance Cooperative Agree.
FY86
Section 9 Operating Assistance
Section 9 Operating Assistance
Section 9 Capital (Computer)
Section 3 Capital (Bus Acquisition)
Section 5 Capital (Bus Acquisition)
Section 9 Capital (Bus Acquisition)
Section 3 Capital (Transit Facility)
FHWA-Camp Cardinal Road Bridge Replacement
FHWA-Burlington St. Bridge Replacement
FHWA-Benton St. Bridge Widening
FHWA/FAUS-Dubuque St./Iowa Ave. Improvement
Federal Revenue Sharing
Domestic
FY87
Asst. #
Grant No.
Expenditures
14.218
8 -85 -MC -19-0009
$ 35,067
14.218
B -86 -MC -19-0009
725,949
14.218
0 -87 -MC -19-0009
63,048
14.230
R -84 -MC -19-0203
21,008
14.230
R -85 -MC -19-0203
42,429
14.230
R -86 -MC -19-0203
-
14.156
IA-05-EO22-011
1,351,935
14.156
IA -05-V022-001-003-004
34,737
14.850
IA -022003
111,876
IA-05-PO22-004 & 5
14.401
HA -12691
1,336
14.401
HA -14579
4,500
20.507
IA -90-4065
179,178
20.507
IA -90-4049
- -
20.507
IA-90-XO63
20.507
IA -03-0051
- -
20.507
IA -05-0049
81,996
20.507
IA-90-XO48
173,004
20.507
IA -03-0044
53,667
20.205
OROS -521C(1) -8J-52
13,235
20.205
OHF -001-5(32)-2L-52
244,748
20.205
BRM -M-4044(1)--88-52
20.205
M-4055(1)-81-52
1,176,287
21.300
16-2-052-003
210,116
W
g CITY OF IOWA CITY, IOWA
SCHEDULE OF FEDERAL AND STATE FINANCIAL ASSISTANCE PROGRAMS
June 30, 1987
Grant Title
FEDERAL PROGRAMS -PASS THROUGH FUNDS:
Department of Transit "PL" Funds FY86
Transportation Transit "PL" Funds FY87
Section 8 Planning - FY86
Section 8 Planning - FY87
National Endowment NEH Challenge Grant
for the Humanities
Iowa Energy policy
Council
State Library of
Iowa
STATE PROGRAMS:
Iowa Department
Of Transportation
Iowa Office for
Planning and
Programming
Nwo Department of
Public Education
Iowa Department
of Economic
o, Development
e
Energy Management Program Grant
"Marc" Cataloging System Grant
LSCA Visually Disabled Grant
U -STEP - Hwy. #I/Sunset Signalization
Iowa 1/Burlington St. Bridge Overlay
State Transit Assistance
State Exxon Overcharge Funds
Safety Project - Airport
Mayor's Youth Corps FY86
Mayor's Youth Corps FY87
Iowa Youth Corps - 6/1/86-8/31/86
Iowa Youth Corps - 6/1/87-8/31/87
Iowa Conservation Corps/Young Adults
Very Special Arts Festival
Community Economic Betterment Grant
Domestic
20,773
Contract #1000
Asst. #
Grant No.
FY87
Expenditures
20.505
IA-PL/8-FY87-JCCOG
E
20.505
IA-PL/8-FY86-JCCOG
20,934
20.505
IA -08-8014
87-7-10-13
20.505
IA -08-8015
21,714
45.013
CQ -20084.87
42,000
81.052 Contract #86-6400-23 138,630
84.034 86 -1 -033 -LSCA I 14,518
84.034 87 -1 -088 -LSCA 1
UST -1-5(39)--4A-52
20,773
Contract #1000
32,636
83,563
Contract #1049
12,300
27-0047-0016
463
85-6-10-E108
85-7-10-IS06
14,912
87-6-10-14
151198
87-7-10-13
1,168
87-7-10-YA13
10,342
None used
191
CERA -87-24 100,000
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, 1987, and have issued our report
thereon dated October 21, 1987. As part of our examination, we made a study and
evaluation of the system of internal accounting control of the City of Iowa City
to the extent we considered necessary to evaluate the system as required by
generally accepted auditing standards and the standards for financial compliance
audits contained in the "Standards for Audit of Governmental Organizations,
Programs, Activities and Functions," issued by the U.S. General Accounting
Office. For the purpose of this report, we have classified the significant
internal accounting controls in the following categories:
Internal Accounting Controls:
_ Financing
Cash receipts
_ Cash disbursements:
Purchases
Payroll
Financial reporting
Our study included all of the control categories listed above. The
purpose of our study and evaluation was to deternine 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
limited than would be necessary to express an opinion on the system of internal
accounting control taken as a whole or on any of the categories of controls
identified above.
The management of the City of Iowa City is responsible for establishing
and maintaining a system of internal accounting control. 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 a
.o• j system are to provide management with reasonable, but not absolute, assurance
that assets are safeguarded against loss from unauthorized use or dispositi
and that transactions are executed in accordance with management's authoron,
ization
and recorded properly to permit the preparation of financial statements in
accordance with generally accepted accounting principles. Because of inherent
limitations in any system of internal accounting control, errors or irregulari-
ties may nevertheless occur and not be detected. Also, projection of any eva-
luation of the system 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.
-147-
/4p s
.V'
Our study and evaluation made for the limited purpose described in the
_. second paragraph would not necessarily disclose all material weaknesses in the
system. Accordingly, we do not express an opinion on the system of internal
accounting control of the City of Iowa City taken as a whole ooany internal
the
categories of controls identified in the first paragraph. Bowe ver, our study
and evaluation disclosed the following conditions 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
— City of Iowa City may occur and not be detected within a timely period.
- Transactions with Unauthorized or Missing Signatures:
Condition:
we examined forty-six vouchers containing sixty-six purchasing forms in our
general disbursements compliance tests. In the vouchers examined, we found
two occurences of unauthorized signatures on the purchasing forms.
In our review of Federal program activities, we found one voucher from a total
of thirty-three examined without the required purchasing form and necessary
signature approvals. However, we reviewed a City council resolution and a
contract signed by the City Manager approving the disbursement. The item
noted was related to a federal program activity but was not charged to a
federal grant for reimbursement.
I Based on these findings, it appears that disbursement vouchers with
improper or missing documentation and signature authorizations are being
processed. The City needs to review and improve their controls related to
the review of voucher documentation prior to disbursement processing.
City Response:
The City has reviewed its procedures and has taken steps to improve the
ti. disbursement documentation review process in an effort to minimize the
inconsistencies identified in the auditor's examination.
i
.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-
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.
-149-
/80; S
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
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.
These conditions were considered in determining the nature, timing and
extent of the audit tests to be applied in our examination of the 1987 general
purpose financial statements, and this report does not affect our report on the
Jj general purpose financial statements dated October 21, 1987.
This report is intended solely for the use of management, the City
Council, the Department of Housing and Urban Development and the State of Iowa
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 21, 1987
-151-
/g42S
I
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Iowa City, Iowa
October 21, 1987
-151-
/g42S
.1.
MCGLADREY
Hendrickson
& Pullen
1 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, 1987, and have issued our report
thereon dated October 21, 1987. As part of our examination, we made a study and
u 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
i 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
-153-
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.1.
0
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, 1987, the City of Iowa City expended 81.7%
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.
- I55-
/g07s
However, our study and evaluation and our examination disclosed the
following conditions that we believe results in more than a relatively low risk
:hat 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.
_. Transaecions with Unauthorized or Missing Signatures:
-- Condition:
We examined forty-six vouchers containing sixty-six purchasing forms in our
general disbursements compliance tests. In the vouchers examined, we found
two occurences of unauthorized signatures on the purchasing forms.
In our review of Federal program activities, we found one voucher from a total
of thirty-three examined without the required purchasing form and necessary
signature approvals. However, we reviewed a City council resolution and a
contract signed by the City Manager approving the disbursement. The item
- noted was related to a federal program activity but was not charged to a
federal grant for reimbursement.
Based on these findings, it appears that disbursement vouchers with improper
or missing documentation and signature authorizations are being processed.
-� The City needs to improve their controls related to the review of voucher
Jdocumentation prior to disbursement processing.
City Response:
The City has reviewed its procedures and has taken steps to improve the
disbursement documentation review process in an effort to minimize the
inconsistencies identified in the auditor's examination.
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-
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.
.a'
I_
I
o
-157- Ages
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
_. 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.
-- These conditions were considered in determining the nature, timing and
extent of the audit tests to be applied in 1) our examination of the 1987
- 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
have a material effect on the allowability of program expenditures for each
major financial assistance program and nonmajor financial assistance program.
This report does not affect our reports on the general purpose financial state-
ments and on the City's compliance with laws and regulations dated October 21,
1987.
This report is intended solely for the use of management, the City
Council, the Department of Housing and Urban Development and the State of Iowa
.� 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.
Iowa City, Iowa
October 21, 1987
W
�-mc&&u_, "&kx,,-, *O„j,c„r.
-159- / p Ir
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McGLADREY
Hendrickson
& Pullen
CCFITIFIEO PUBUC ACCOYNUNTS
I
1 ^
To the Honorable Mayor and Members of the Cit
City of Iowa City, Iowa Y Council
I_
of We have examined the general purpose financial statements of the City
Iowa City, Iowa, for the year ended June 30, 1987, and have issued our report
thereon dated October 21, 1987. Our examination was made in accordance with
�I 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
I Accounting Office and, accordingly, included such tests of the accounting
y records and such other auditing procedures as we considered necessary in the
circumstances,
I
The management of t
he City Of Iowa City is responsible for the Cit s
compliance with laws and regulations
nnection
referred to above, we selected and tested transactionsith andour recordsitotdetermine
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.
i
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 Stems not
tested the City of Iowa City was not in compliance with Is and regulations
with which noncompliance could have a material effect on the City's Pose financial statements.
Y s general Aur-
., The following comments about the City of Iowa City,
the year ended June 30, 1987 are based exclusively Iowa operations for
on knowledge obtained from
procedures performed during our examination of the City's financial statements
for the year ended June 30, 1987. Since our examination was based on teats and
samples, not all transactions that might have had an impact on the comments were
necessarily examined. The comments involving statutor
are not intended to constitute legal interpretations.
y and other legal matters
-161-
/dog s
.o•
1• Official Depository Banks
The City's depository banks are:
Maximum
Authorized
Deposit
First National Bank, Iowa Cit
Iowa State Bank 6 Trust Co. 1 Iowa $10,000,000
Hawkeye State Bank, Iowa CityIowa City, Iowa 8,000,000
Hills Bank S Trust Company,' Iowa 750,000
Pie rchants National Bank, CedarlRapids, Iowa
8,000,000
25,000,000
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, 1967 did not exceed
amounts budgeted therefore.
3• Entertainment Expense
We noted no expenditures for parties, banquets or other entertainment for
-� employees that we believe ma
y titute an funds as this is defined in theoAttorney General'Jsuopinionditure dated Aprilfromp25,lic
1979.
I4. 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 $4,864,491 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 ~
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-163-
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8. Property and Equipment Records
City property and equipment records are complete through June 30, 1987.
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 State of Iowa 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 21, 1987
�-M Cb4AX�"CkffA Qtiu"
-165-
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r �
�-M Cb4AX�"CkffA Qtiu"
-165-
/gAs
.1.
eGLADREY
Hendrickson
& Pullen
VN CERTIFIED PUBLIC ACCOUNTANTS
t I �
To the llonorable Mayor and Members of the City Council
City of Iowa City, Iowa
i
lie have examined the general — g purpose financial statements of the City
of Iowa City, Iowa, for the year ended June 30, 1987, and have issued our report
.-. thereon dated October 21, 1987. Our examination was made in accordance with
generally accepted auditing standards, the standards for financial and
,i 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,
y 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 no Instances of noncompliance with
those laws and regulations that we believe could have a material effect on the
allowability of program expenditures.
In our opinion, for the year ended June 30, 1987 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.
i
i
_ -167- ly 4A Jr
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. Our testing was more limited than
would be necessary to express an opinion on whether the City of Iowa City admi-
nistered those programs in compliance in all material respects with those laws and
regulations with which noncompliance we believe could have a material effect on
the allowability of program expenditures; however, with respect to the transac-
tions and records that were not tested by us, nothing came to our attention to
indicate that the City of Iowa City had not complied with the laws and regulations
referred to above.
Iowa City, Iowa
October 21, 1987
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