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HomeMy WebLinkAboutA010 - Motion accepting Fiscal Year 2026/27 First Quarter Financial ReportITEM #:13 DEPT:FIN October 13, 2026 Staff Report FISCAL YEAR 2026-27 FIRST QUARTER FINANCIAL REPORT BACKGROUND: Governmental accounting best practices emphasize the importance of timely and periodic financial reviews throughout the fiscal year. The Government Finance Officers Association (GFOA) specifically recommends that governments conduct interim reviews to ensure data accuracy, identify variances as they occur, and give decision-makers the information they need to respond promptly to emerging trends. While the Finance Department has historically reviewed financial information internally, this information has not been formally compiled for presentation to the City Council. Establishing quarterly reporting represents a significant step toward aligning the City's financial practices with GFOA guidance, strengthening transparency, and enhancing oversight of the City’s finances. Quarterly reporting supports more effective budget monitoring by enabling the City to evaluate revenues and expenditures as they occur rather than waiting until year-end. This proactive approach ensures that unexpected changes can be addressed in time to protect service delivery. It also provides comparative and trend data, which are essential for evaluating financial performance, understanding the causes of variances, and supporting informed decision-making by elected officials. Regular reporting not only improves financial management and but also promotes accountability and transparency. In keeping with these best practices, the Finance Department has prepared the City’s FY 2026/27 Quarter 1 financial report as of September 30, 2026, which is attached for the City Council's review. The report provides fund balances, revenues, and expenditures for FY 2026/27 through the end of the first quarter, along with comparative information from the prior fiscal year. The quarterly report will serve two purposes: it will offer the City Council a clear picture of the City’s financial position during the year, and it will function as an internal monitoring tool for the Finance Department to identify inaccuracies, anomalies, and unanticipated changes in financial activity. OPTIONS: Should the City Council desire additional or more detailed information, staff can be directed to include that information in a future report. 1 STAFF COMMENTS: The Finance Department has made quarterly reporting a standard practice. Reports will be provided after each quarter of the fiscal year, with accompanying analysis to highlight major findings and explain significant variances. The practice demonstrates the City's commitment to sound financial management, transparency, and adherence to GFOA’s recognized best practices in governmental finance. ATTACHMENT(S): 2026-27 Quarter 1 Financial Report FINAL.pdf 2 City of Ames, Iowa Fiscal Year 2026/27 Quarter 1 Financial Report 3 FY 2026/27 Quarterly Financial Summary Period Ending September 30, 2026 Introduction The following reports summarize the City’s revenues, expenditures, and fund balances for the first quarter of FY 2026/27. It should be noted that the “Fund Balance 6/30/26” amounts for each fund (the first column in the fund balance report) are still unaudited numbers at this point. The balances could change because of late revenue or expenditure accruals as well as other audit adjustments. The balances will be updated in future quarterly reports. A few other explanations for the “Fund Balance 6/30/26” column are included below: - Many of the funds with negative balances at the beginning of the year are construction or grant funds with expenditures in FY 2025/26 for which reimbursement was not received by the end of the fiscal year. These funds include Public Safety Donations and Grants, the CDBG Program, Parks and Recreation Grants, Street Construction, Water Construction, Sewer Improvements, and Stormwater Improvements. It is common for expenditures and reimbursements in these types of funds to cross fiscal years and the reimbursements will be received in FY 2026/27. - The Special Assessments fund traditionally has a negative beginning balance. When assessments are created to cover the cost of debt issuance, the principal and interest payments for the debt begin immediately. The assessment revenue received to cover the cost of the debt, however, is collected over time. The fund’s negative balance will be resolved over time as the assessments are collected. Listed below are some explanations for fund balances at the end of the first quarter of FY 2026/27: - Some funds that support capital projects are currently showing balances that may be larger than anticipated. These funds, including Local Option Sales Tax, Road Use Tax, New Animal Shelter Donations, Winakor Donation, Council Priorities, and the Utility funds, show higher balances due to the timing of the capital projects budgeted in those funds. - Many grant and construction funds continue to show negative balances at the end of the first quarter of FY 2026/27. These funds include Public Safety Donations and Grants, Parks and Recreation Grants, Street Construction, Airport Improvements, Water Construction, Sewer Improvements, and Stormwater Improvements. The reimbursements for the capital expenditures in these funds will be received in FY 2026/27. - Three internal service funds (Fleet Services, Information Technology, and Shared Communications) show negative fund balances at the end of the first quarter because their first quarter expenditures have not yet been reimbursed by the departments they support. 4 Revenues The adjusted budget for revenues is unchanged from the adopted budget. The first FY 2026/27 budget amendment approved by City Council in September was for expenditures only. Overall revenues on 9/30/26 were at 32.8% of the adopted amount for FY 2026/27. This is higher than would be expected at the end of the first quarter, since many revenues, such as utility payments, Local Option Sales Tax, and Hotel/Motel Tax, are received at the end of periods. It is more typical for the revenues at the end of the first quarter to be less than 25% of the budgeted amount for the fiscal year. The revenue at the end of the first quarter of FY 2026/27 is higher largely due to the issuance of General Obligation bonds in September. In the General Obligation Bond fund, the projected revenue for FY 2026/27 is $24,227,686. Revenue of $24,053,120, or 99.3%, has already been received. Similarly, in the Resource Recovery Improvements Fund, the projected revenue from the issuance of bonds was $15,117,620. Due to the increased cost of the project, the actual revenue received by the end of September was $22,224,924, 147% of the budgeted amount. Other revenue items to note: - The revenue in the New Animal Shelter Donations fund is significantly lower at the end of the first quarter of FY 2026/27 than at the end of the first quarter of FY 2025/26. This is due to the fundraising campaign that was at its peak in FY 2025/26. Some donations continue to be received, however, which can be seen in the FY 2026/27 actuals column. Nothing was budgeted to be received in FY 2026/27, but a projected amount will be added as part of this year’s budget process. - The $24,053,120 in revenue in the General Obligation Bonds Fund is due to the issuance of bonds on September 15, 2026. The revenue amount is significantly higher than at the end of the first quarter of FY 2025/26 because the FY 2025/26 general obligation bonds were not issued until October 14, 2025. - The Sewer Utility Fund’s revenue is lower at the end of the first quarter of FY 2026/27 than at the end of the first quarter of FY 2025/26. This is due to an FY 2025/26 first quarter billing to NADC for a $2,126,036 prepayment for their contribution to the improvements at the WPC facility. - Electric Utility revenue is at 32.2% of its projected FY 2026/27 total. That is higher than would be expected at the end of the first quarter because revenue from utility billings is received at the end of billing periods. The higher-than-normal revenue is due to the repayment of a $7,100,000 loan that was made at the end of FY 2025/26 to the Resource Recovery Improvements Fund. The loan was made to provide cash for the R3C project until bonds could be issued. Once the bond proceeds were received in September, the loan was repaid to the Electric Utility Fund. - The Stormwater Improvements Fund is showing a negative $25,000 revenue because grant revenue was accrued in FY 2025/26 but not received. The revenue accrual was reversed in FY 2026/27 to offset the revenue when it is received, since it was already recorded as revenue in FY 2025/26. 5 - The $22,224,924 in FY 2026/27 revenue in the Resource Recovery Improvements Fund is from the issuance of bonds for the R3C project. A similar bond issue did not occur in FY 2025/26. - Recycling revenue is being shown for the first time in the Recycling Services fund. At the end of the first quarter of FY 2026/27, the revenue is at 21.4% of what was projected for the year, showing that revenue in the fund is keeping pace with what was projected for this new service. - The Shared Communications fund, which accounts for the revenues and expenses of the MAPSG system funded through the City, ISU, Story County, and the E911 system, shows negative revenue of $68,529 at the end of the first quarter. The expenses in this fund are reimbursed by the participating entities at the end of the calendar year, but an accrual is made at the end of the fiscal year as a portion of the revenue is for January through June of the prior year. The accrual was then reversed in FY 2026/27 so the revenue would not be overstated in the current year when the invoices are processed. Expenditures The FY 2026/27 adjusted budget for expenditures includes the amounts adopted in the FY 2026/27 budget and the amounts included in the first amendment to the FY 2026/27 budget approved by City Council in September. A significant portion of the amounts included in the amendment are carryover amounts for capital projects that were incomplete at the end of FY 2025/26. Actual expenditures at 9/30/26 are at 16.8% of adjusted budgeted expenditures. None of the expenditures seem out of line with what would be expected at this point in the fiscal year. Some negative expenditures can normally be seen in the first quarter of every fiscal year. These negative expenditures are typically related to retainages for capital projects that have not yet been paid but need to be accrued to the prior fiscal year because the retainages relate to work that was performed in the prior fiscal year. The retainage accrual is then reversed in the current fiscal year to offset the actual retainage payment since the expenditure was already recorded in the prior year. These negative expenditures can be seen in the Indoor Aquatic Center Donations Fund, the Council Priorities Capital Fund, the Furman Aquatic Center Trust Fund, and the Water Construction Fund. Other expenditure items to note: - Expenditures in the Capital Projects Fund group are lower at 9/30/26 than they were at 9/30/25. This is simply due to the timing of capital projects that are in progress during each quarter. - Electric Utility expenditures are significantly higher than they were at the end of the first quarter of FY 2025/26. This is due to the $18,759,137 payment that was made in September to Wartsila for the engines for the new Ames Municipal Energy Center (AMEC). It should also be noted that the Electric Utility FY 2026/27 budget has been increased from $92,714,590 to $141,066,564, largely due to the increased cost and the scheduling of the payments for the AMEC project. 6 - Significant FY 2026/27 expenditures are being shown in the Resource Recovery Improvements Fund. While some of the expenditures are related to the R3C project, $7,100,000 of the total is a loan repayment to the Electric Utility Fund. The Electric Utility Fund loaned the funding to the Resource Recovery Improvements Fund at the end of FY 2025/26 to cover the project costs until the bonds that provide funding for the project could be issued. - Expenditures can be seen for the first time in the Recycling Services Fund as the new service began operation on July 1, 2026. - Expenditures in the Information Technology Fund are at 34.2% of the total budget for FY 2026/27 due to the July 1 payment of many of the software contracts for the fiscal year. The expenditures are also higher compared to the first quarter of FY 2025/26 due to the increased cost of software subscriptions and network-related services. These same factors can be seen affecting expenditures in the Shared Communications Fund, which accounts for the revenues and expenses of the MAPSG system. - The Risk Management Fund is at 64.2% of its 2026/27 budgeted expenditures because the renewals for property insurance, liability insurance, flood insurance, and other types of insurance are annual payments that are made at the beginning of the fiscal year. 7 Fund Balance Summary Fund Balance FY 2026/27 Year-to-Date FY 2026/27 Year-to-Date Quarter 1 Ending Budgeted Ending $ 13,771,178 $ 6,486,367 $ 11,544,561 $ 8,712,984 $ 11,074,767 Local Option Tax $ 10,386,425 $ 2,247,154 $ 2,174,318 $ 10,459,261 $ 5,604,975 Hotel Motel Tax 1,665,255 608,357 521,722 1,751,890 2,203,622 Road Use Tax 8,981,091 1,761,455 2,464,898 8,277,647 1,801,396 Bike Licenses - - - - - Police Forfeiture 172,513 2,521 343 174,691 163,301 Public Safety Donations/Grants (180,305) 10,316 7,105 (177,094) 963 Animal Shelter Donations 160,796 16,803 - 177,599 188,950 New Animal Shelter Donations 2,375,943 22,606 24,440 2,374,109 1,292 City-Wide Housing 347,040 - 7,181 339,859 319,245 CDBG Program (12,342) 117,106 39,620 65,144 - HOME Program 3 112,500 6,461 106,042 - HOME/American Rescue Plan - - - - - Fire/Police Retirement - - - - - Parks/Recreation Grants (410,444) 1,250 5,368 (414,562) - Parks/Recreation Donations 237,279 13,005 112,453 137,830 31,148 Parks/Recreation Scholarships 716,131 10,318 560 725,890 720,640 American Rescue Plan 3,032,301 - 8,764 3,023,538 2,748,750 Library Donations and Grants 478,024 161,511 77,736 561,799 371,947 Utility Assistance 20,876 6,117 - 26,993 27,432 Public Art Donations 32 - - 32 32 Developer Projects 250,863 489 - 251,352 252,481 Economic Development 547,166 - - 547,166 547,166 Tax Increment Financing 962,828 8,136 - 970,964 661,707 $ 29,731,475 $ 5,099,644 $ 5,450,970 $ 29,380,149 $ 15,645,047 Special Assessments $ (437,757) $ 558 $ - $ (437,199) $ (304,031) Street Construction (1,258,561) 481,747 1,189,597 (1,966,411) 294,326 Park Development 722,926 6,827 - 729,753 805,028 Winakor Donation 2,088,268 18,042 - 2,106,310 1,017,130 Indoor Aquatic Center Donations 114,999 7,911 (104,275) 227,185 583,189 Council Priorities Capital Fund 9,054,550 78,088 (19,390) 9,152,028 6,000,000 General Obligation Bonds 20,542,932 24,053,120 2,201,920 42,394,132 4,378,125 $ 30,827,357 $ 24,646,292 $ 3,267,853 $ 52,205,797 $ 12,773,767 Cemetery Perpetual Care $ 1,161,661 $ 6,401 $ - $ 1,168,062 $ 1,183,565 Furman Aquatic Center Trust 1,156,358 10,268 (33,712) 1,200,337 1,220,220 $ 2,318,019 $ 16,668 $ (33,712) $ 2,368,399 $ 2,403,785 8 Fund Balance Summary, continued Fund Balance FY 2026/27 Year-to-Date FY 2026/27 Year-to-Date Quarter 1 Ending Budgeted Ending Airport Operations $ 62,866 $ 41,046 $ 46,655 $ 57,257 $ 81,968 Airport Improvements (23,009) - 155,868 (178,877) 201,834 Airport Sigler Reserve 2,960,283 24,869 - 2,985,152 2,819,494 Water Utility 27,453,503 3,752,254 3,706,795 27,498,962 16,031,057 Water Construction (940,339) 47,336 (464,604) (428,399) - Water Sinking 272,571 1,158,430 - 1,431,001 264,734 Sewer Utility 31,749,066 2,752,205 2,051,179 32,450,092 22,876,786 Sewer Improvements (6,336,691) 5,829,115 885,534 (1,393,109) 3,791 Sewer Sinking 189,412 727,393 - 916,805 351,665 Electric Utility 54,636,353 25,985,334 37,086,113 43,535,574 28,181,353 Electric Sinking 80,518 242,050 - 322,568 16 SunSmart Community Solar 991,789 34,166 36,956 988,999 985,468 Electric Sustainability Reserve 2,488,754 21,123 - 2,509,877 2,548,160 Parking Operations 245,129 192,162 219,319 217,972 122,024 Parking Capital Reserve 1,334,081 11,304 - 1,345,385 1,357,554 Transit Operations 9,335,577 1,126,322 3,516,796 6,945,103 6,616,224 Transit Student Government Trust 1,582,660 13,722 - 1,596,382 1,584,822 Transit Capital Reserve 13,782,601 116,161 113,136 13,785,626 10,208,630 Stormwater Utility 8,174,785 455,215 484,096 8,145,904 1,385,274 Stormwater Improvements (425,000) (25,000) - (450,000) - Ames/ISU Ice Arena 412,878 89,543 193,536 308,885 456,787 Ice Arena Capital Reserve 145,487 551 - 146,038 127,148 Homewood Golf Course 1,149,329 183,148 104,632 1,227,845 930,501 Resource Recovery 2,026,688 942,354 941,950 2,027,092 799,390 Resource Recovery Improvements (3,456,615) 22,224,924 8,576,468 10,191,841 - Recycling Services 143,056 325,409 139,268 329,197 160,500 $ 148,035,732 $ 66,271,136 $ 57,793,697 $ 156,513,171 $ 98,095,180 $ 5,121,293 $ 1,385,889 $ - $ 6,507,182 $ 4,596,800 Fleet Services $ 255,697 $ 270,643 $ 533,172 $ (6,832) $ 180,378 Fleet Replacement Reserve 14,842,228 2,590,397 514,536 16,918,089 11,659,212 Fleet Services Reserve 1,966,842 164,909 38,220 2,093,531 2,134,752 Information Technology 120,000 562,801 760,501 (77,700) 120,000 Technology Replacement Reserve 2,333,734 73,040 52,431 2,354,344 2,398,680 Shared Communications (3) (68,529) 316,384 (384,916) - Information Technology Reserve 2,060,309 28,061 35,487 2,052,883 1,664,328 Risk Management 4,054,677 970,359 2,357,115 2,667,921 4,406,580 Health Insurance 7,497,810 3,557,128 2,983,621 8,071,317 7,156,671 $ 33,131,294 $ 8,148,808 $ 7,591,465 $ 33,688,637 $ 29,720,601 $ 262,936,348 $ 112,054,805 $ 85,614,834 $ 289,376,319 $ 174,309,947 Fund Balance: The net assets of a fund calculated on a budgetary basis and used as a measure of financial resources available in the fund. 9 Revenue Summary by Fund Actual Actual at Adopted Adjusted Actual at % of Actual to $ 47,447,329 $ 6,025,287 $ 49,772,669 $ 49,772,669 $ 6,486,367 13.0% Local Option Tax $ 12,582,070 $ 1,945,428 $ 12,883,612 $ 12,883,612 $ 2,247,154 17.4% Hotel Motel Tax 3,005,739 566,604 3,210,000 3,210,000 608,357 19.0% Road Use Tax 9,476,980 1,782,332 9,604,055 9,604,055 1,761,455 18.3% Bike Licenses - - - - - Police Forfeiture 59,679 21,949 10,000 10,000 2,521 25.2% Public Safety Donations/Grants 91,744 47,029 52,000 52,000 10,316 19.8% Animal Shelter Donations 73,846 24,819 84,000 84,000 16,803 20.0% New Animal Shelter Donations 2,301,284 1,400,843 - - 22,606 City-Wide Housing 500 - 500 500 - 0.0% CDBG Program 1,524,072 153,286 1,102,657 1,102,657 117,106 10.6% HOME Program 234,732 - 278,382 278,382 112,500 40.4% HOME/American Rescue Plan - - 631,705 631,705 - 0.0% Fire/Police Retirement - - - - - Parks/Recreation Grants 405,685 - 400,000 400,000 1,250 0.3% Parks/Recreation Donations 159,718 82,690 144,500 144,500 13,005 9.0% Parks/Recreation Scholarships 211,625 7,801 19,000 19,000 10,318 54.3% American Rescue Plan - - - - - Library Donations and Grants 272,958 159,310 429,050 429,050 161,511 37.6% Utility Assistance 33,466 5,149 22,000 22,000 6,117 27.8% Public Art Donations 7,840 - - - - Developer Projects 1,881 474 2,000 2,000 489 24.4% Economic Development 28,031 28,031 - - - Tax Increment Financing 538,232 10,560 830,000 830,000 8,136 1.0% $ 31,010,082 $ 6,236,305 $ 29,703,461 $ 29,703,461 $ 5,099,644 17.2% Special Assessments $ 193,151 $ - $ 186,144 $ 186,144 $ 558 0.3% Street Construction 4,761,923 - 3,124,000 3,124,000 481,747 15.4% Park Development 293,947 5,103 116,000 116,000 6,827 5.9% Winakor Donation 70,138 17,725 54,000 54,000 18,042 33.4% Indoor Aquatic Center Donations 267,080 7,776 - - 7,911 Council Priorities Capital Fund 1,052,401 72,325 60,000 60,000 78,088 130.1% General Obligation Bonds 14,649,777 469,280 24,227,686 24,227,686 24,053,120 99.3% $ 21,288,417 $ 572,209 $ 27,767,830 $ 27,767,830 $ 24,646,292 88.8% Cemetery Perpetual Care $ 29,095 $ 5,883 $ 26,250 $ 26,250 $ 6,401 24.4% Furman Aquatic Center Trust 39,849 10,122 35,000 35,000 10,268 29.3% $ 68,944 $ 16,005 $ 61,250 $ 61,250 $ 16,668 27.2% 10 Revenue Summary by Fund, continued Actual Actual at Adopted Adjusted Actual at % of Actual to Airport Operations $ 342,214 $ 76,508 $ 402,799 $ 402,799 $ 41,046 10.2% Airport Improvements 1,373,857 577,799 15,852,261 15,852,261 - 0.0% Airport Sigler Reserve 96,806 24,720 84,000 84,000 24,869 29.6% Water Utility 20,662,020 3,484,313 16,888,114 16,888,114 3,752,254 22.2% Water Construction 1,953,281 - - - 47,336 Water Sinking 4,561,115 1,160,375 4,633,132 4,633,132 1,158,430 25.0% Sewer Utility 15,772,080 5,305,795 12,415,860 12,415,860 2,752,205 22.2% Sewer Improvements 30,436,232 8,890,904 7,250,000 7,250,000 5,829,115 80.4% Sewer Sinking 2,174,297 357,146 3,084,725 3,084,725 727,393 23.6% Electric Utility 77,200,035 17,751,691 80,753,815 80,753,815 25,985,334 32.2% Electric Sinking 966,075 241,519 887,520 887,520 242,050 27.3% SunSmart Community Solar 164,604 44,119 171,000 171,000 34,166 20.0% Electric Sustainability Reserve 83,594 21,787 73,000 73,000 21,123 28.9% Parking Operations 1,077,760 210,228 1,029,800 1,029,800 192,162 18.7% Parking Capital Reserve 43,527 10,972 37,000 37,000 11,304 30.6% Transit Operations 17,077,930 1,405,159 16,103,909 16,103,909 1,126,322 7.0% Transit Student Government Trust 52,838 13,319 36,000 36,000 13,722 38.1% Transit Capital Reserve 9,029,999 129,585 4,866,360 4,866,360 116,161 2.4% Stormwater Utility 2,280,832 458,023 2,247,500 2,247,500 455,215 20.3% Stormwater Improvements 500,000 - - - (25,000) Ames/ISU Ice Arena 730,679 92,975 718,581 718,581 89,543 12.5% Ice Arena Capital Reserve 81,471 166 83,000 83,000 551 0.7% Homewood Golf Course 594,251 206,507 614,301 614,301 183,148 29.8% Resource Recovery 4,570,057 755,269 5,756,433 5,756,433 942,354 16.4% Resource Recovery Improvements 7,099,773 (227) 15,117,620 15,117,620 22,224,924 147.0% Recycling Services 152,600 - 1,522,500 1,522,500 325,409 21.4% $ 199,077,927 $ 41,218,652 $ 190,629,230 $ 190,629,230 $ 66,271,136 34.8% $ 15,380,023 $ 1,241,119 $ 15,383,472 $ 15,383,472 $ 1,385,889 9.0% Fleet Services $ 2,892,916 $ 267,876 $ 2,905,112 $ 2,905,112 $ 270,643 9.3% Fleet Replacement Reserve 3,188,722 232,807 2,663,689 2,663,689 2,590,397 97.2% Fleet Services Reserve 532,141 124,465 400,000 400,000 164,909 41.2% Information Technology 2,093,639 485,032 2,224,629 2,224,629 562,801 25.3% Technology Replacement Reserve 350,098 - 322,136 322,136 73,040 22.7% Shared Communications 364,305 (85,497) 435,000 435,000 (68,529) -15.8% Information Technology Reserve 287,955 28,599 106,000 106,000 28,061 26.5% Risk Management 3,606,789 950,782 3,844,762 3,844,762 970,359 25.2% Health Insurance 16,031,043 3,325,614 15,364,139 15,364,139 3,557,128 23.2% $ 29,347,608 $ 5,329,678 $ 28,265,467 $ 28,265,467 $ 8,148,808 28.8% $ 343,620,330 $ 60,639,255 $ 341,583,379 $ 341,583,379 $ 112,054,805 32.8% 11 Expenditure Summary by Fund Actual Actual at Adopted Adjusted Actual at % of Actual to $ 48,141,500 $ 10,584,409 $ 49,772,669 $ 51,142,558 $ 11,544,561 22.6% Local Option Tax $ 12,025,672 $ 1,855,405 $ 12,730,326 $ 17,388,929 $ 2,174,318 12.5% Hotel Motel Tax 3,186,467 777,563 2,961,470 2,983,405 521,722 17.5% Road Use Tax 10,498,090 2,267,320 10,450,264 16,565,131 2,464,898 14.9% Bike Licenses - - - - - Police Forfeiture 54,468 22,207 12,000 22,000 343 1.6% Public Safety Donations/Grants 265,368 17,301 52,000 52,000 7,105 13.7% Animal Shelter Donations 75,000 10,528 75,000 75,000 - 0.0% New Animal Shelter Donations 387,690 - - 4,300,766 24,440 0.6% City-Wide Housing 36,809 9,026 29,916 29,916 7,181 24.0% CDBG Program 1,524,072 88,178 1,102,657 1,102,657 39,620 3.6% HOME Program 234,729 6,177 278,382 278,382 6,461 2.3% HOME/American Rescue Plan - - 631,705 631,705 - 0.0% Fire/Police Retirement - - - - - Parks/Recreation Grants 622,260 - 400,000 400,000 5,368 1.3% Parks/Recreation Donations 135,588 91,863 139,500 376,779 112,453 29.8% Parks/Recreation Scholarships 610 - - - 560 American Rescue Plan 329,182 85,611 - 1,519,236 8,764 0.6% Library Donations and Grants 281,985 79,292 482,046 496,880 77,736 15.6% Utility Assistance 35,522 - 17,500 17,500 - 0.0% Public Art Donations 7,840 - - - - Developer Projects - - - - - Economic Development 28,031 28,031 - - - Tax Increment Financing 832,411 - 1,137,750 1,137,750 - 0.0% $ 30,561,794 $ 5,338,502 $ 30,500,516 $ 47,378,036 $ 5,450,970 11.5% Special Assessments $ 48,261 $ - $ 48,200 $ 48,200 $ - 0.0% Street Construction 4,615,055 1,477,342 3,124,000 8,700,512 1,189,597 13.7% Park Development 154,915 (346) - 29,605 - 0.0% Winakor Donation 21,595 - 1,100,000 1,100,000 - 0.0% Indoor Aquatic Center Donations 735,270 161,380 - 114,999 (104,275) -90.7% Council Priorities Capital Fund 323,834 89,946 57,500 2,881,694 (19,390) -0.7% General Obligation Bonds 17,505,086 2,861,331 24,657,961 40,827,529 2,201,920 5.4% $ 23,404,016 $ 4,589,653 $ 28,987,661 $ 53,702,539 $ 3,267,853 6.1% Cemetery Perpetual Care $ - $ - $ - $ - $ - Furman Aquatic Center Trust 49,397 - - 9,160 (33,712) -368.0% $ 49,397 $ - $ - $ 9,160 $ (33,712) -368.0% 12 Expenditure Summary by Fund, continued Actual Actual at Adopted Adjusted Actual at % of Actual to Airport Operations $ 347,248 $ 41,389 $ 402,799 $ 402,799 $ 46,655 11.6% Airport Improvements 2,025,500 373,410 15,826,750 23,145,116 155,868 0.7% Airport Sigler Reserve 67,945 - 136,283 136,283 - 0.0% Water Utility 15,086,590 3,336,775 17,311,868 26,920,069 3,706,795 13.8% Water Construction 3,081,322 609,984 - 1,637,417 (464,604) -28.4% Water Sinking 4,554,515 - 4,633,720 4,633,720 - 0.0% Sewer Utility 10,142,265 1,685,907 15,743,012 19,414,231 2,051,179 10.6% Sewer Improvements 29,027,878 4,133,244 7,250,000 20,694,907 885,534 4.3% Sewer Sinking 2,099,067 - 2,909,571 2,909,571 - 0.0% Electric Utility 87,041,504 19,837,207 92,714,590 141,066,564 37,086,113 26.3% Electric Sinking 966,075 - 968,200 968,200 - 0.0% SunSmart Community Solar 177,644 40,137 190,000 190,000 36,956 19.5% Electric Sustainability Reserve 150,000 - - - - Parking Operations 950,149 225,354 1,013,750 1,013,750 219,319 21.6% Parking Capital Reserve - - - - - Transit Operations 16,404,766 3,436,642 17,200,727 17,200,727 3,516,796 20.4% Transit Student Government Trust - - - - - Transit Capital Reserve 10,531,373 207,819 5,278,737 14,569,858 113,136 0.8% Stormwater Utility 2,859,085 554,237 3,164,580 8,691,926 484,096 5.6% Stormwater Improvements 860,000 66,719 - 400,000 - 0.0% Ames/ISU Ice Arena 676,847 164,590 661,906 661,906 193,536 29.2% Ice Arena Capital Reserve 7,266 1,057 100,000 100,000 - 0.0% Homewood Golf Course 409,338 96,407 740,868 785,333 104,632 13.3% Resource Recovery 4,368,866 897,581 6,368,402 6,359,792 941,950 14.8% Resource Recovery Improvements 3,390,802 267,817 15,117,620 18,653,341 8,576,468 46.0% Recycling Services 9,545 - 1,512,000 1,564,050 139,268 8.9% $195,235,590 $ 35,976,276 $209,245,383 $312,119,560 $ 57,793,697 18.5% $ 14,093,059 $ - $ 15,674,470 $ 15,674,470 $ - 0.0% Fleet Services $ 2,725,795 $ 547,212 $ 2,865,112 $ 2,865,112 $ 533,172 18.6% Fleet Replacement Reserve 1,696,948 366,552 2,057,000 4,709,200 514,536 10.9% Fleet Services Reserve 327,051 60,000 100,000 525,000 38,220 7.3% Information Technology 2,093,642 592,211 2,224,629 2,224,629 760,501 34.2% Technology Replacement Reserve 380,960 110,723 226,800 333,505 52,431 15.7% Shared Communications 364,306 268,658 435,000 435,000 316,384 72.7% Information Technology Reserve 146,748 77,511 165,000 291,075 35,487 12.2% Risk Management 3,645,612 2,141,249 3,669,235 3,669,235 2,357,115 64.2% Health Insurance 16,052,489 2,819,860 15,631,029 15,646,943 2,983,621 19.1% $ 27,433,551 $ 6,983,976 $ 27,373,805 $ 30,699,699 $ 7,591,465 24.7% $338,918,907 $ 63,472,816 $361,554,504 $510,726,022 $ 85,614,834 16.8% 13