FY 17 Annual Report

FISCAL REPORT City of Spencer, Iowa July 1, 2016 - June 30, 2017

DETAILED FINANCIAL SUMMARYAND ANALYSIS FOR DEPARTMENTS AND DIVISIONS OF THE CITY OF SPENCER

Introduction

CITY OFFICIALS

2017

CITY OF SPENCER, IOWA

MAYOR Reynold L. Peterson

George Moriarty MAYOR PRO-TEM

COUNCIL MEMBERS Frank Petska

WARD 1st

Dec. 31, 2019 Dec. 31, 2017 Dec. 31, 2019 Dec. 31, 2017 Dec. 31, 2019 Dec. 31, 2017 Dec. 31, 2017 TERM EXPIRES

George Moriarty Rich Prentice Bill Orrison Steve Bomgaars Leann Jacobsen Ron Hanson

At Large 3rd 4th 5th At Large 2nd

CITY MANAGER

CITY CLERK

DEPUTY CITY MANAGER/FINANCE

Vacant

Theresa E. Reardon

Brian W. Weuve

Donald J. Hemphill CITY ATTORNEY

PUBLIC WORKS DIR. Mark White

CHIEF OF POLICE Mark Warburton

FIRE CHIEF

PLANNING DIRECTOR Kirby Schmidt

LIBRARY DIRECTOR Mandie Roberts

Douglas Duncan

PARKS & REC DIR. Delray Bredehoeft

GOLF COURSE SUPT.

STREET SUPT. Dwayne Sebby

Brian Mohr

SOLID WASTE SUPT. Kent Herbold

CEMETERY SUPT. Tim Hamrick

LANDFILL SUPT. Chuck Duhn

COUNCIL STANDING COMMITTEES

PUBLIC SAFETY

PUBLIC WORKS

FINANCE & PERSONNEL

Prentice Orrison Moriarty

Chairperson

Hanson Swanson

Chairperson

Bomgaars Prentice

Chairperson

Vice Chair Member

Vice Chair Member

Vice Chair Member

Petska

Hanson

PROGRESS & DEVELOPMENT

Chairperson

Swanson Bomgaars

Vice Chair Member

Orrison

INTRODUCTION

REVENUE CATEGORIES

2017

CITY OF SPENCER, IOWA

Below are examples of the Revenue Line Items that can be found within each Revenue Category. Not all Departments/Fund will have each and everyone of these categories.

INTERGOVERNMENTAL Grant Proceeds Clay County Payments

CHARGES FOR SERVICE

Tow & Impound Fees Board of Adjustment Fees Fuel Reimbursement

Federal Payments Road Use Tax Distribution SMU Payments State of Iowa Payments

Inter-Library Loan Reimbursement Campground/Shelter Rental Fees Aquatic Center Passes / Admissions Cemetery Charges (Burials, Lot Sales, etc) Refund/Reimbursements

MISCELLANEOUS

Fines & Fees Municipal Infractions Miscellaneous Income

CSI Sewer Charge Connection Fees Storm Water Fees User Fees Sales Tax Charges Fire Contracts League Fees Loan Payments

Donations

Storefront Initiative Reimbursement Memorials/Endowments

Sale of Recyclables

Interest USE OF MONEY & PROPERTY

Statewide ASR Quarterly Fee Landfill Contracts Tag Sales Transfer Station Receipts Hangar Rental Fees

Rental Income Farm Income

LICENSES & PERMITS

RCC Fees

Electricians/Plumbing Permits Excavators Licenses Building/Plumbing/Electrical Permits Sign/Fence/Excavation Permits Cigarette Permits Liquor Permits

Beverage/Liquor/Food Revenue Golf Course Fees

TAXES

Insurance Property Tax Property Taxes

Cable TV Franchise

Utility Replacement Excise Tax Hotel/Motel Tax Local Option Sales Tax Tax Increment Financing Revenue SSMID Property Tax

OTHER FINANCING SOURCES Transfers

Bond Proceeds

Assessment Payments SPECIAL ASSESSMENTS

INTRODUCTION

EXPENDITURE CATEGORIES

2017

CITY OF SPENCER, IOWA

Below are examples of the Expenditure Line Items that can be found within each Expenditure Category. Not all Departments/Fund will have each and everyone of these categories.

SALARIES & WAGES

EMPLOYEE BENEFITS Uniform Allowance

Salaries

Part Time Salaries

FICA & IPERS

Overtime

Worker's Compensation Insurance

Volunteer Firemen Fees

Group Health Insurance 411 Pension Contributions

STAFF DEVELOPMENT

Payroll Taxes

Training/Conference Expense Employee Education Expense

REPAIRS, MAINTENANCE & UTILITIES Building Maintenance & Repairs

CONTRACTUAL SERVICES Court Costs Jail Expense

Gas & Oil Vehicle Accessories

Outdoor Siren Repair & Maintenance Downtown Maintenance Equipment Maintenance & Repairs Utilities Telephone

Immunizations

Dog & Cat Control Fees

Drug Testing

Contractual Services

Street Maintenance Expense Traffic Signal Maintenance

Contract Maintenance

Technology Fees Container Repairs

YMCA Contract Advertising Tree Program

DEBT SERVICE

Election Expense Dues & Subscriptions Recording/Publication Fees Bonds & Audits Planning & Zoning Expense

Principal Payments Interest Payments

Registrar Fees

COMMODITIES

Legal Fees

Office Supplies

Property/Liability Insurance

SRO Expense K-9 Expense Evidence & Lab Expense Supplies - Not Office Computer Supplies/Maintenance

Nuisance Abatement

Event Center Distribution Contributions Safety Program

INTRODUCTION

CONTRACUTAL SERVICES

COMMODITIES

L.O.S.T. Distributions

Prevention Materials Miscellaneous Expense

Riverside Cemetery Trust Griffin Trust Expenses WTP Contracutal Services

Mosquito Control Small Hand Tools Safety Clothing

Sewer/Solid Waste Collection Fee Airport Management Contract

Traffic Control Supplies

Tire Disposal

Stock Items

De-Manufacturing Expense

Programming Supplies

Compost Expense Testing & Monitoring

Chemicals

Disposal Costs

TRANSFERS

Food/Beverage Expense

Transfers

CAPITAL OUTLAY

State Aid Furniture & Fixtures Capital Equipment Sidewalk Construction Books, Film, Records

Capital Improvement Plan Expense

INTRODUCTION

CITY OF SPENCER, IOWA DEFINITIONS

2017

The following Definitions are Key Terms that may be included throughout this report, or are used when discussing the financial condition of the City.

Appropriation: A legal authorization to incur obligations and to make expenditures for specific purposes. Asset: Resources owned or held by a government which has monetary value. Available (Beginning) Fund Balance: This refers to the funds remaining from the prior year which are available for appropriation and expenditure in the current year. Bond: A long term IOU or promise to pay. It is a promise to repay a specified amount of money (the face amount of the bond) on a particular date (the maturity date). Bonds are primarily used to finance capital projects. Borrowing: These revenues reflect the sale of bonds and notes, certificates of indebtedness, and tax anticipation certificates. Cities are restricted by law from borrowing for current expenses. Budget: A plan of financial activity for a specified period of time (fiscal year) indicating all planned revenues and expenses for the budget period. Capital Improvements: Expenditures related to the acquisition, expansion or rehabilitation of an element of the government’s physical plant; sometimes referred to as infrastructure. Capital Improvements Function: The function’s objective to account for all capital projects together, and not separated by department. Capital Improvements Program (CIP): A Plan for capital outlay to be incurred each year over a fixed number of years to meet capital needs arising from the government’s long-term needs. Capital Outlay: Fixed assets which have a value of $1,000 or more and have a useful economic lifetime of more than one year; or assets of any value if the nature of the item is such that it must be controlled for custody purposes as a fixed asset. Capital Project: Major construction, acquisition or renovation activities which add value to a government’s physical assets or significantly increase their useful life. Also called capital improvements. Capital Projects Funds: These funds optionally account for resources used in the acquisition or construction of major capital facilities and capital assets. Cash Basis: A basis of accounting in which transactions are recognized only when cash is increased or decreased. Charge for Services: These revenues reflect fees for activities or services within the City’s fund structure. These include rent of city hall be individuals or organizations, police and fire contracts, fire calls, recreation fees, etc. Community & Economic Development Function: The function’s objective is to provide for the beautification and economic development of the community for the benefits of all citizens.

INTRODUCTION

Culture & Recreation Function: The function’s objective is to promote the general well being of the City and to encourage the fullest development of cultural and educational potentials of the citizens and the community. Debt Service: The cost of paying principal and interest on borrowed money according to a predetermined payment schedule. Debt Service Function: The function’s objective is to account for all of city’s debt service regardless of department that owes the debt. Debt Service Fund: These funds account for the payment of interest and principal on the city’s general long- term debt except when authorized or required to be paid form other funds. Deficit: The excess of an entity’s liabilities over its assets or the excess of expenditures or expenses over revenues during a single accounting period. Department: The basis organizational unit of government which is functionally unique in its delivery of services. Employee (or Fringe) Benefits: Contribution made by a government to meet commitments or obligation for employee fringe benefits. Included are the government’s share of costs for Social Security, and the various pension, medical and life insurance plans. Enterprise Fund: A fund established to account for operations that are financed and operated in a manner similar to private business enterprises. The intent of a governing body is that the cost of providing goods and services to the general public on a continuing basis be financed or recovered primarily through user charges or where the governing body has decided that periodic determination of revenues earned, expenses incurred and/or net income is appropriate for capital maintenance, public policy, management control, accountability, or other purposes. Expenditure: The payment of cash on the transfer of property or services for the purpose of acquiring an asset, service or settling a loss. Fines and Forfeits: These revenues reflect receipts form the payment of penalties for law violations, non- observance contracts, and forfeited deposits. Fiscal Policy: A government’s policies with respect to revenues, spending, and debt management as these relate to government services, programs and capital investment. Fiscal policy provides an agreed-upon set of principals for the planning and programming or government budgets and their funding. Fiscal Year: A twelve-month period designated as the operating year for accounting and budgeting purposes in an organization. The City of Spencer’s fiscal year begins July 1 and ends June 30. Fixed Assets: Assets of long-term character that are intended to continue to be held or used, such as land, buildings, machinery, furniture and other equipment. Franchise Taxes: These revenues reflect proceeds from taxes imposed on public utilities, usually involving elements of a monopoly, (e.g., electric utilities, gas utilities, cable TV) for use of public property. Full Faith and Credit: A pledge of a government’s taxing power to repay debt obligation. Function: A group of related activities performed by one or more organization units for the purpose of accomplishing a function for which the government is responsible.

INTRODUCTION

Fund: The fiscal and accounting entity with a self-balancing set of accounts recording cash and other financial resources together with all related liabilities and residual equity or balances and changes therein which are segregated for the purpose of carrying out specific activities or obtaining certain objectives in accordance with special regulations, restrictions or limitations. Fund Balance: The difference between fund assets and fund liabilities. General Government Function: This function’s objective is to provide for the functioning of the government and to assure the general administration of the City. General Fund: The general fund id the chief operating fund of the city. All general tax revenues and other receipts that are not allocated by law or contractual agreement to some other fund are accounted for in this fund. General operating expenses, the fixed charges and the capital improvement costs that are not paid from other funds are paid from this fund. General Obligation (GO) Bond: This type of bond is backed by the full faith, credit and taxing power of the government. Health & Social Services Function: The function’s objective is to provide satisfactory opportunity for productive and enjoyable living for the citizenry both as individuals and as a community of people. Infrastructure: The physical assets of a government such as streets, water, sewer, public buildings and parks. Interfund Transfer: The movement of monies between funds of the same governmental entity. Intergovernmental Revenue: Funds received from federal, state and other local government sources in the form of grants, shared revenues and payments in lieu of taxes. Levy: To impose taxes for the support of government activities. ‘ Licenses and Permits: These revenues reflect receipts from liquor licenses, cigarette license, other business licenses, street use permits, building permits, and other non-business license and permits. Line-Item Budget: A budget prepared along departmental lines that focuses on what is to be purchased. Long Term Debt: Debt with a maturity of more than one year after the date of issuance. Property Tax: Taxes levied according to the property’s taxable value and the tax rate. Public Safety Function: The function’s objective is to provide for the safety and welfare of the community through response to calls for service, enforcement of laws and preventive education. Public Works Function: the function’s objectives is to provide for the safety and welfare of the community through upkeep and maintenance of the city’s streets, streetlights, etc. Reserve: An account used either to set aside budgeted revenues that are not required for expenditure in the current budget year or to earmark revenues for a specific future purpose. Resolution: A special or temporary order of a legislative body; an order of a legislative body requiring less legal formality that an ordinance. Resources: Total amounts available for appropriation including estimated revenues, fund transfers and beginning balances.

INTRODUCTION

Revenue: Sources of income financing the operations of government. Revenue Bond: This type of bond is backed only by the revenues from a specific enterprise or project, such as a sewer utility. Rollack: The amount of reduction between the 100% property vaule and teh taxable value, (minue any tax credits). The Rollback amount is calucalted by the State of Iowa and is applied to Residential, Agricultural, Commerical, and Industrial classes of property. Special Assessment: A compulsory levy made against certain properties to defray part or all of the cost of a specific improvement or service deemed to primarily benefit those properties. Special Assessment Account: An account within the Debt Service Fund which for budgeting purposes is used to account for the financing of public improvements or services deemed to benefit primarily the properties against which special assessments are levied. Special Revenue Funds: These funds account fro proceeds from specific sources (other than those accounted for within capital projects funds) that are usually required by law or regulation to be accounted for in separate funds and to be expended for specific purposes. Taxes: Compulsory charges levied by a government for the purpose of financing services performed for the common benefit of the people. This term does not include specific charge made against particular persons or property for current or permanent benefit, such as special assessments. Tax Increments: These revenues refer to the amount of resources cities generate when they establish tax increment financing (TIF) districts. In a TIF district, the increase in property tax revenues in the redeveloped area are used to pay the costs of development and redevelopment in the district rather then the general services of the city, county, and school district. Transfers In/Out: Amounts transferred from one fund to another to assist in financing the services for the recipient fund. User Charges (Fees): The payment of a fee for direct receipt of a public service by the party who benefits from the service.

INTRODUCTION

Financial Summary

2017

ANNUAL FINANCIAL SUMMARY CITY OF SPENCER, IOWA KEY METRICS

OUTSTANDING DEBT

TOTAL REVENUES

TOTAL EXPENDITURES

PROPERTY TAX REV

TAX LEVY

$14,425,620

$26,924,992 $23,005,279

$6,517,142

$11.9917

13.75%

26.48%

12.93%

7.73%

0.00%

ALL METRICS

5 YEAR TREND

METRIC

THIS YEAR (2017)

LAST YEAR (2016)

% CHANGE

TOTAL REVENUES PROPERTY TAX REV ALL OTHER SOURCES INTERGOVERNMENTA HOTEL TAX REVENUE ROAD USE TAXES L.O.S.T. REVENUE T.I.F. TAX REVENUE POLICE DEPARTMENT COMMUNICATION CTR FIRE DEPARTMENT

$26,924,991.74 $6,517,141.94 $12,169,309.49 $4,784,636.30 $336,475.37 $1,394,563.82 $2,132,055.22 $835,048.24 $1,493,483.67 $399,120.33 $492,943.10 $1,195,111.81 $527,063.67 $799,018.00 $533,617.50 $2,335,153.72 $164,249.46 $2,190,211.85 $700,975.77 $390,130.49 $1,312,598.32 $6,545,021.77

$21,287,992.19 $6,049,388.22 $11,118,074.05 $4,120,529.92 $355,172.93 $1,388,165.82 $2,013,036.51 $687,243.91 $20,370,992.10 $1,358,833.13 $365,555.25 $442,682.23 $1,051,425.83 $504,170.40 $772,918.32 $501,235.96 $1,903,548.61 $181,911.16 $2,065,254.01 $898,524.86 $387,287.23 $1,227,718.84 $3,886,732.85

26.48% 7.73% 9.46% 16.12% -5.26% 0.46% 5.91% 21.51% 12.93% 9.91% 9.18% 11.35% 13.67% 4.54% 3.38% 6.46% 22.67% -9.71% 6.05% -21.99% 0.73% 6.91% 68.39% 0.00% 13.75%

TOTAL EXPENDITURES $23,005,278.63

PUBLIC WORKS

LIBRARY

PARKS DEPARTMENT GENERAL GOVERNME

SANITARY SEWER

AIRPORT

SOLID WASTE

LANDFILL

GOLF COURSE

GROUP HEALTH INS. CAPITAL PROJECTS

TAX LEVY

$11.9917

$11.9915

OUTSTANDING DEBT

$14,425,619.63

$12,681,772.75

FINANCIAL SUMMARY

2017

ANNUAL FINANCIAL SUMMARY CITY OF SPENCER, IOWA CITY INCOME FROM TAXES COMPARED BY YEARS LEVIED PER $1,000 OF VALUATION - FY 2017

FISCAL

GENERAL

DEBT

SPECIAL REVENUE

TOTAL

DOLLARS*

YEAR

/LIAB. 8.3928 8.3707 8.4559 9.3220 8.4083 8.4177 8.4353 8.4908 8.5164 8.4271 8.4400 8.4790 8.4529 8.4281 8.3971 8.4093 8.4357 8.3757

SERVICE

LEVY

$ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $ $

5,502,860 5,006,749 5,006,578 4,923,469 4,594,623 4,823,382 4,415,637 3,054,313 3,136,443 3,325,770 3,411,246 3,494,520 3,526,636 3,618,949 3,867,035 4,062,438 4,142,183 4,323,845

1999/2000 2000/2001 2001/2002 2002/2003 2003/2004 2004/2005 2005/2006 2006/2007 2007/2008 2008/2009 2009/2010 2010/2011 2011/2012 2012/2013 2013/2014 2014/2015 2015/2016 2016/2017

1.6919 1.1486 0.9881 1.0099 1.1412 1.0032 1.0757 1.2880 1.3440 1.0222 0.9906 0.9728 0.9730 0.9730 0.9725 0.9737 0.9808 1.0855

1.0677 1.6063 1.3617 1.7080 1.4705 1.6789 1.8639 1.8784 1.7909 2.2764 2.2886 2.2648 2.4172 2.4319 2.4613 2.6102 2.5750 2.5305

11.1524 11.1256 10.8057 12.0399 11.0398 11.0998 11.3749 11.6572 11.6513 11.7257 11.7192 11.7166 11.8431 11.8330 11.8309 11.9932 11.9915 11.9917

* Excludes SSMID, TIF and Agricultural Land

FINANCIAL SUMMARY

ADDITIONAL INFORMATION

$12.50

$12.00

$11.50

$11.00

Levy Rate

$10.50

$10.00

99/00

00/01

01/02

02/03

03/04

04/05

05/06

06/07

07/08 Fiscal Year

08/09

09/10

10/11

11/12

12/13

13/14

14/15

15/16

16/17

$2,000,000 $2,500,000 $3,000,000 $3,500,000 $4,000,000 $4,500,000 $5,000,000 $5,500,000 $6,000,000

Revenue Generated

99/00

00/01

01/02

02/03

03/04

04/05

05/06

06/07

07/08 Fiscal Year

08/09

09/10

10/11

11/12

12/13

13/14

14/15

15/16

16/17

FINANCIAL SUMMARY

2017

ANNUAL FINANCIAL SUMMARY CITY OF SPENCER, IOWA TAXABLE VALUATIONS WITH GAS & ELECTRIC / WITHOUT GAS & ELECTRIC

WITH GAS & ELECTIRC

WITHOUT GAS & ELECTIRC

ASSESSMENT

FISCAL

DEBT SERVICE

YEAR

YEAR

REGULAR DEBT SERVICE REGULAR

1/1/1998 1/1/1999 1/1/2000 1/1/2001 1/1/2002 1/1/2003 1/1/2004 1/1/2005 1/1/2006 1/1/2007 1/1/2008 1/1/2009 1/1/2010 1/1/2011 1/1/2012 1/1/2013 1/1/2014 1/1/2015

1999/2000 2000/2001 2001/2002 2002/2003 2003/2004 2004/2005 2005/2006 2006/2007 2007/2008 2008/2009 2009/2010 2010/2011 2011/2012 2012/2013 2013/2014 2014/2015 2015/2016 2016/2017

273,400,683 284,579,487 309,659,505 310,348,719 317,804,366 319,184,914 319,774,993 333,044,319 348,830,813 353,607,978 369,356,894 377,094,298 390,896,014 410,787,756 418,997,002 420,460,749 420,076,326 460,899,195

276,500,683 286,432,995 317,395,316 322,696,007 334,501,580 331,665,204 329,515,818 346,880,109 367,019,053 377,502,083 392,812,013 399,928,462 412,860,074 425,100,637 436,096,815 443,083,901 443,792,387 487,565,482

483,141,591 397,808,441 408,117,345 420,756,842 431,848,705 438,237,082 439,299,022 329,075,016 326,971,256 344,036,392 364,758,377 375,067,877 390,426,470 283,573,921 314,809,687 320,212,542 332,075,504

281,720,413 307,073,876 307,865,254 315,378,290 316,594,726 317,230,431 330,200,602 346,570,137 351,173,772 366,971,351 374,947,277 386,153,285 406,443,961 414,748,892 415,613,930 415,584,964 456,475,304

FINANCIAL SUMMARY

ADDITIONAL INFORMATION

Valuation with Gas & Electric

500,000,000

450,000,000

400,000,000

350,000,000

REGULAR DEBT SERVICE

300,000,000 Total Valuation

250,000,000

98/99

99/00

00/01

01/02

02/03

03/04

04/05

05/06

06/07 Fiscal Year

07/08

08/09

09/10

10/11

11/12

12/13

13/14

15/16

16/17

Valuation Without Gas & Electric

530,000,000

480,000,000

430,000,000

380,000,000

REGULAR DEBT SERVICE

330,000,000 Total Valuation

280,000,000

98/99

99/00

00/01

01/02

02/03

03/04

04/05

05/06

06/07 Fiscal Year

07/08

08/09

09/10

10/11

11/12

12/13

13/14

15/16

16/17

FINANCIAL SUMMARY

2017

ANNUAL FINANCIAL SUMMARY CITY OF SPENCER, IOWA

0.8946 WHERE IT GOES - CITY PROPERTY TAX DOLLARS For each $1,000 of valuation during FY 2016/17, the City received $11.9917. This money funds the following services: GENERAL GOVERNMENT Administration, City Hall Maintenance, Publication Expenses, Legal, Mayor/Council 7.46%

PUBLIC WORKS

-

0.00%

Street Equipment Repairs

PUBLIC SAFETY

4.7729

39.80%

Police, Fire, Communication Center, Animal Control

CULTURE / RECREATION

2.4325

20.28%

Library, Parks, Campground, Aquatic Center, Band, Cemeteries, Playground

PROPERTY INSURANCE

0.2757

2.30%

DEBT SERVICE SPECIAL REVENUE

1.0855

9.05%

2.5305

21.10%

Employee Pension, Insurance Benefits

TOTAL

$

11.9917

100.00%

SPECIAL REVENUE, 21.10%

DEBT SERVICE, 9.05%

GENERAL GOVERNMENT 7.46%

CULTURE / RECREATION 20.28% PROPERTY INSURANCE 2.30%

PUBLIC WORKS, 0.00%

PUBLIC SAFETY, 39.80%

FINANCIAL SUMMARY

2017 CITY OF SPENCER, IOWA CONSOLIDATED TAX RATE COMPARISON - CITIES ABOVE 10,000 POPULATION ANNUAL FINANCIAL SUMMARY

2010

ESTIMATE

CENSUS

RANK

CITY NAME

RATE

204,220 10,780 25,206 25,023 62,230 45,582 15,254 27,552 14,541 26,885 17,278 12,661 25,663 68,406 22,886 82,684 39,463 99,687 10,600 11,051 14,782 34,768 67,862 126,326 11,463 56,609 13,790 18,907 28,079 15,447 57,637 33,217 11,233 13,374 10,352 39,260 58,965 10,103

1 2 3 4 5 6 7 8 9

DES MOINES

47.37280 45.35669 45.12520 44.93553 44.84057 42.87446 42.40053 42.35918 42.07317 41.53341 41.50611 41.28157 40.93478 40.78414 40.65482 40.30487 39.53334 39.37128 39.32846 39.20156 38.96067 38.79632 38.74878 38.21254 38.13928 37.17466 36.81121 35.74390 35.55039 35.16965 34.01012 33.83443 33.71670 33.24875 33.01457 31.76832 31.65760 25.73395

KEOKUK

FORT DODGE

OTTUMWA

COUNCIL BLUFFS

ANKENY NEWTON

MARSHALLTOWN

ALTOONA CLINTON JOHNSTON

10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38

BOONE

BURLINGTON WATERLOO MUSCATINE SIOUX CITY URBANDALE DAVENPORT STORM LAKE FORT MADISON

INDIANOLA

MARION

IOWA CITY

CEDAR RAPIDS

OSKALOOSA

WEST DES MOINES

WAUKEE

CORALVILLE MASON CITY

CLIVE

DUBUQUE

BETTENDORF

SPENCER

NORTH LIBERTY

PELLA

CEDAR FALLS

AMES

CARROLL

FINANCIAL SUMMARY

2017

ANNUAL FINANCIAL SUMMARY

CITY OF SPENCER, IOWA CITY TAX RATE COMPARISON - CITIES ABOVE 10,000 POPULATION

TOTAL

January 1, 2015 TAXABLE VALUE

GENERAL

OTHER LEVIES

2010

OUTSIDE AGLAND EMERG DEBT EMPLOY CAPITAL REGULAR

$8.10 LEVY

RANK

CITY CENSUS REGULAR W/ G&E AGLAND FY15/16 FY16/17 8.10000 LEVY LEVY SERVICE BENFIT IMPROVE W/OUT AG

1 OTTUMWA

25,023

628,367,444 1,088,117 *8.10000 *8.10000 1.78500 3.00375 0.27000 3.43886 7.13293 662,434,271 2,877,103 *8.10000 *8.10000 1.60926 3.00375 0.27000 4.47022 5.97252

20.72679 20.42200 17.75000 17.60522 17.15000 16.92000 16.78000 16.58305 16.06708 16.00803 15.93632 15.91050 15.88101 15.67209 15.62578

2 FORT DODGE 25,206

3 COUNCIL BLUFFS 62,230 2,547,695,493 10,212,746 *8.10000 *8.10000 1.29393 3.00375 0.27000 2.20716 5.87891

4 WATERLOO 5 NEWTON

68,406 2,253,084,844 12,328,802 *8.10000 *8.10000 1.81621 3.00375 0.27000 3.16104 4.25797

15,254

430,884,204 1,536,035 *8.10000 *8.10000 0.68283 3.00375

2.30968 6.05749 4.01000 4.52000

6 DES MOINES 203,433 6,840,954,151 5,944,440 *8.10000 *8.10000 0.29000 3.00375

7 DAVENPORT 8 IOWA CITY 9 SIOUX CITY

99,685 4,022,766,219 15,439,787 *8.10000 *8.10000 1.43000 3.00375 0.27000 2.15000 4.83000 67,862 3,347,028,340 1,706,955 *8.10000 *8.10000 1.51044 3.00375 3.82846 3.14415 82,684 2,495,210,550 4,361,173 *8.10000 *8.10000 1.25984 3.00375 0.27000 3.58873 2.84851 319,711,676 181,869 *8.10000 *8.10000 0.22996 3.00375 0.26819 1.44347 5.96641 682,266,063 1,053,366 *8.10000 *8.10000 1.00975 3.00375 0.26995 3.79790 2.75872 268,998,742 570,197 *8.10000 *8.10000 0.33836 3.00375 0.27000 1.77472 5.42742 951,478,815 12,939,562 *8.10000 *8.10000 0.43996 3.00375 0.27000 2.60002 4.47103 10,780

10 KEOKUK

11 BURLINGTON 25,663 12 FORT MADISON 11,051

13 CLINTON

26,885 22,886 12,661

14 MUSCATINE

826,763,643 1,126,416 *8.10000 *8.10000 0.53025 3.00375 351,052,696 1,601,549 *8.10000 *8.10000 0.48426 3.00375

2.78470 4.25714 0.97130 6.07022

15 BOONE

16 MARSHALLTOWN 27,552

783,206,162 4,665,045 *8.10000 *8.10000 0.84101 3.00375 0.27000 3.63269 1.76288 0.67500 15.28158

17 CEDAR RAPIDS 126,326 6,012,512,982 6,474,178 *8.10000 *8.10000 1.17418 3.00007

2.68605 3.25598 15.21621

18 STORM LAKE 10,600

295,259,870 682,253 *8.10000 *8.10000 0.25401 3.00375 0.26999 1.60803 4.35792 327,548,798 1,263,047 *8.10000 *8.10000 0.40535 3.00375 0.27000 2.25257 2.95915

14.58995 13.98707 13.82108 13.71268

19 OSKALOOSA

11,463

20 MARION

34,768 1,393,433,278 3,164,617 *8.10000 *8.10000 0.53654 3.00375 28,079 1,032,560,178 7,098,641 *8.10000 *8.10000 0.31239 3.00375

2.13362 3.05092 2.74350 2.55679

21 MASON CITY

FINANCIAL SUMMARY

TAXABLE VALUE January 1, 2015

GENERAL

OTHER LEVIES

TOTAL

2010

$8.10 LEVY

OUTSIDE AGLAND EMERG DEBT EMPLOY CAPITAL REGULAR

RANK

CITY CENSUS REGULAR W/ G&E AGLAND FY15/16 FY16/17 8.10000 LEVY LEVY SERVICE BENFIT IMPROVE W/OUT AG 22 CORALVILLE 18,907 923,017,916 1,160,641 *8.10000 *8.10000 1.36738 3.00375 2.12539 1.93502 13.52779 23 WAUKEE 13,790 704,992,568 3,953,868 *8.10000 *8.10000 3.00375 3.32000 2.08000 13.50000 24 INDIANOLA 14,782 481,746,187 1,407,597 *8.10000 *8.10000 3.00375 1.65013 2.95010 12.70023 25 BETTENDORF 33,217 2,101,207,268 4,162,430 5.04127 5.07449 0.65867 3.00375 5.00000 1.81684 12.55000 26 WEST DES MOINE 56,609 4,324,075,301 6,129,267 *8.10000 *8.10000 0.14110 3.00375 0.27000 1.95000 1.53890 12.00000 27 SPENCER 11,233 460,899,195 1,886,266 *8.10000 *8.10000 0.27571 3.00375 1.08545 2.53054 11.99170 28 ANKENY 45,582 2,667,877,529 3,458,535 6.89000 6.79000 0.15000 3.00375 4.25000 0.56000 11.75000 29 CARROLL 10,103 473,025,129 542,840 *8.10000 *8.10000 0.42281 3.00375 1.28762 1.76629 11.57672 30 JOHNSTON 17,278 1,205,068,053 3,525,664 7.70054 7.73983 3.00375 3.66017 11.40000 31 CEDAR FALLS 39,260 1,574,489,248 5,807,960 *8.10000 *8.10000 0.86910 3.00375 0.57527 1.67530 11.21967 32 DUBUQUE 57,637 2,358,056,508 2,944,944 *8.10000 *8.10000 0.64702 3.00375 0.11400 2.30637 11.16739 33 NORTH LIBERTY 13,374 757,979,781 1,801,641 *8.10000 *8.10000 3.00375 1.12753 1.80511 11.03264 34 AMES 58,965 2,603,065,698 1,648,505 5.77474 5.60071 0.64261 3.00375 3.41087 0.71908 10.37327 35 PELLA 10,352 466,398,334 2,063,876 *8.10000 *8.10000 0.23585 3.00375 1.86415 10.20000 36 CLIVE 15,447 1,246,855,308 364,247 7.16982 7.07172 3.00375 1.48295 1.59032 10.14499 37 ALTOONA 14,541 595,368,910 1,153,730 *8.10000 *8.10000 3.00375 0.39142 1.45227 9.94369 38 URBANDALE 39,463 2,629,574,805 3,247,998 7.17000 7.17000 3.00375 2.18000 0.57000 9.92000

FINANCIAL SUMMARY

2017

ANNUAL FINANCIAL SUMMARY CITY OF SPENCER, IOWA CITY TAX RATE COMPARISON - 100 LARGEST CITIES STATEWIDE BY POPULATION

TAXABLE VALUE January 1, 2013

GENERAL $8.10 LEVY

OTHER LEVIES

TOTAL

2010

OUTSIDE AGLAND EMERG DEBT EMPLOY CAPITAL REGULAR

RANK

CITY CENSUS REGULAR W/ G&E AGLAND FY13/14 FY14/15 8.10000 LEVY LEVY SERVICE BENFIT IMPROVE W/OUT AG

1 2 3 4 5 6 7 8 9 25,023 628,367,444 1,088,117 *8.10000 *8.10000 1.78500 3.00375 0.27000 3.43886 7.13293 662,434,271 2,877,103 *8.10000 *8.10000 1.60926 3.00375 0.27000 4.47022 5.97252 151,635,040 976,398 *8.10000 *8.10000 0.77854 3.00375 0.27000 4.36016 5.75945 122,565,517 590,646 *8.10000 *8.10000 1.55835 3.00375 0.27000 4.51080 4.69953 89,493,565 178,536 *8.10000 *8.10000 1.72694 3.00375 0.27000 4.94584 3.83938 187,291,392 1,417,295 *8.10000 *8.10000 1.56482 3.00375 0.27000 4.21208 4.45792 131,025,560 570,818 *8.10000 *8.10000 1.02673 3.00375 0.27000 1.88017 6.84672 107,928,917 586,018 *8.10000 *8.10000 1.45254 3.00375 0.27000 4.11831 4.15088 149,048,916 1,157,127 *8.10000 *8.10000 0.78378 3.00375 0.27000 2.85514 5.88252 68,406 2,253,084,844 12,328,802 *8.10000 *8.10000 1.81621 3.00375 0.27000 3.16104 4.25797 117,226,740 1,015,158 *8.10000 *8.10000 1.94049 3.00375 0.27000 2.77256 4.41695 125,561,676 178,318 *8.10000 *8.10000 0.87825 3.00375 0.27000 2.72579 5.49801 143,266,929 603,196 *8.10000 *8.10000 1.43192 3.00375 0.27000 4.84044 2.75710 146,932,717 1,212,188 *8.10000 *8.10000 0.61307 3.00375 0.26999 2.29868 5.94979 5,572 5,528 4,690 5,742 5,238 4,321 8,298 6,415 3,868 7,702 4,151 117,346,635 306,208 *8.10000 *8.10000 0.83513 3.00375 5.36657 3.57914 11 COUNCIL BLUFFS 62,230 2,547,695,493 10,212,746 *8.10000 *8.10000 1.29393 3.00375 0.27000 2.20716 5.87891 12 WATERLOO 13 CLARINDA 14 CENTERVILLE 15 HUMBOLDT FORT DODGE 25,206 IOWA FALLS SHENANDOAH 5,150 CHARITON DENISON OELWEIN CRESCO PERRY 10 FOREST CITY OTTUMWA

20.72679 20.42200 19.26815 19.13868 18.88216 18.60482 18.12362 18.09173 17.89144 17.88084 17.75000 17.60522 17.50000 17.47205 17.39946 17.23153 17.15000 17.13065 16.92000 16.81075 16.78000

16 RED OAK 17 NEWTON 18 HARLAN

15,254

430,884,204 1,536,035 *8.10000 *8.10000 0.68283 3.00375

2.30968 6.05749

5,106

152,102,375 1,206,110 *8.10000 *8.10000 2.30284 3.00375 0.27000 2.88987 3.56794

19 DES MOINES 203,433 6,840,954,151 5,944,440 *8.10000 *8.10000 0.29000 3.00375

4.01000 4.52000 3.70805 4.49920

20 KNOXVILLE 21 DAVENPORT

7,313

192,715,658 393,862 *8.10000 *8.10000 0.50350 3.00375

99,685 4,022,766,219 15,439,787 *8.10000 *8.10000 1.43000 3.00375 0.27000 2.15000 4.83000

FINANCIAL SUMMARY

January 1, 2013 TAXABLE VALUE

GENERAL

OTHER LEVIES

TOTAL

2010

$8.10 LEVY

OUTSIDE AGLAND EMERG DEBT EMPLOY CAPITAL REGULAR

RANK

CITY CENSUS REGULAR W/ G&E AGLAND FY13/14 FY14/15 8.10000 LEVY LEVY SERVICE BENFIT IMPROVE W/OUT AG 22 ATLANTIC 7,112 215,956,545 2,490,709 *8.10000 *8.10000 0.35614 3.00375 0.27000 4.03386 3.96957 16.72957 23 WEBSTER CITY 8,070 208,600,452 2,152,611 *8.10000 *8.10000 0.69750 3.00375 0.27000 2.31957 5.24136 16.62843 24 IOWA CITY 67,862 3,347,028,340 1,706,955 *8.10000 *8.10000 1.51044 3.00375 3.82846 3.14415 16.58305 25 VINTON 5,257 146,348,950 1,153,266 *8.10000 *8.10000 0.76673 3.00375 0.27000 3.88447 3.47882 16.50002 26 ESTHERVILLE 6,360 151,088,396 786,121 *8.10000 *8.10000 0.65194 3.00375 0.27000 2.18169 5.29637 16.50000 27 FAIRFIELD 9,464 343,624,274 277,097 *8.10000 *8.10000 0.85049 3.00375 4.17408 2.35026 0.67500 16.14983 28 CHEROKEE 5,253 137,574,663 1,225,827 *8.10000 *8.10000 0.80878 3.00375 0.27000 2.53065 4.43885 16.14828 29 SIOUX CITY 82,684 2,495,210,550 4,361,173 *8.10000 *8.10000 1.25984 3.00375 0.27000 3.58873 2.84851 16.06708 30 KEOKUK 10,780 319,711,676 181,869 *8.10000 *8.10000 0.22996 3.00375 0.26819 1.44347 5.96641 16.00803 31 BURLINGTON 25,663 682,266,063 1,053,366 *8.10000 *8.10000 1.00975 3.00375 0.26995 3.79790 2.75872 15.93632 32 FORT MADISON 11,051 268,998,742 570,197 *8.10000 *8.10000 0.33836 3.00375 0.27000 1.77472 5.42742 15.91050 33 CLINTON 26,885 951,478,815 12,939,562 *8.10000 *8.10000 0.43996 3.00375 0.27000 2.60002 4.47103 15.88101 34 WASHINGTON 7,266 218,503,491 1,135,231 *8.10000 *8.10000 0.47596 3.00375 0.27000 3.94471 3.03012 15.82079 35 CHARLES CITY 7,652 237,030,233 1,397,979 *8.10000 *8.10000 1.36235 3.00375 0.27000 1.42505 4.62823 15.78563 36 NORWALK 8,945 338,046,136 2,673,693 *8.10000 *8.10000 0.52656 3.00375 0.27000 4.10313 2.69530 15.69499 37 MUSCATINE 22,886 826,763,643 1,126,416 *8.10000 *8.10000 0.53025 3.00375 2.78470 4.25714 15.67209 38 WINDSOR HEIGHT 4,860 201,867,143 -0- *8.10000 *8.10000 0.74308 0.27000 1.48299 5.06503 15.66110 39 BOONE 12,661 351,052,696 1,601,549 *8.10000 *8.10000 0.48426 3.00375 0.97130 6.07022 15.62578 40 MANCHESTER 5,179 162,060,019 1,024,144 *8.10000 *8.10000 0.55074 3.00375 0.27000 3.22248 3.43201 15.57523 41 HIAWATHA 7,024 344,571,134 875,198 *8.10000 *8.10000 3.00375 4.51691 2.79478 15.41169 42 INDEPENDENCE 5,966 203,037,415 1,084,699 *8.10000 *8.10000 0.50439 3.00375 0.27000 2.31630 4.20700 15.39769 43 MARSHALLTOWN 27,552 783,206,162 4,665,045 *8.10000 *8.10000 0.84101 3.00375 0.27000 3.63269 1.76288 0.67500 15.28158 44 JEFFERSON 4,345 123,067,968 1,538,994 *8.10000 *8.10000 0.31690 3.00375 0.27000 2.64996 3.88827 15.22513 45 CEDAR RAPIDS 126,326 6,012,512,982 6,474,178 *8.10000 *8.10000 1.17418 3.00007 2.68605 3.25598 15.21621 46 WINTERSET 5,190 146,218,646 477,156 *8.10000 *8.10000 1.45476 3.00375 0.27000 1.73538 3.43772 14.99786 47 ANAMOSA 5,533 129,458,033 119,914 *8.10000 *8.10000 1.61783 3.00375 0.27000 0.82932 4.15896 14.97611 48 CARLISLE 3,876 126,947,511 1,639,839 *8.10000 *8.10000 0.62212 3.00375 4.40947 1.52032 14.65191 49 NEVADA 6,798 187,573,462 1,217,218 *8.10000 *8.10000 1.08584 3.00375 0.27000 1.84568 2.64148 0.67500 14.61800 50 STORM LAKE 10,600 295,259,870 682,253 *8.10000 *8.10000 0.25401 3.00375 0.26999 1.60803 4.35792 14.58995 51 ORANGE CITY 6,004 184,973,954 745,821 7.51000 7.31438 0.40654 2.68161 6.84064 14.56156

FINANCIAL SUMMARY

TAXABLE VALUE January 1, 2013

GENERAL

OTHER LEVIES

TOTAL

2010

$8.10 LEVY

OUTSIDE AGLAND EMERG DEBT EMPLOY CAPITAL REGULAR

RANK

CITY CENSUS REGULAR W/ G&E AGLAND FY13/14 FY14/15 8.10000 LEVY LEVY SERVICE BENFIT IMPROVE W/OUT AG 52 GRINNELL 9,218 251,269,304 931,818 *8.10000 *8.10000 0.55717 3.00375 0.26999 1.43113 4.06247 14.42076 53 OSCEOLA 4,929 168,809,824 672,324 *8.10000 *8.10000 0.82934 3.00375 0.27000 4.67844 0.44725 14.32503 54 ALGONA 5,560 240,000,102 682,592 *8.10000 *8.10000 0.69922 3.00375 1.82868 3.66069 14.28859 55 DECORAH 8,127 317,209,118 1,099,314 *8.10000 *8.10000 0.44897 3.00375 2.03158 3.51364 14.09419 56 DE WITT 5,322 183,173,528 1056855 *8.10000 *8.10000 0.73988 3.00375 2.48581 2.74640 14.07209 57 WAVERLY 9,874 384,809,730 2,507,266 *8.10000 *8.10000 0.34030 3.00375 2.40560 3.18112 14.02702 58 OSKALOOSA 11,463 327,548,798 1,263,047 *8.10000 *8.10000 0.40535 3.00375 0.27000 2.25257 2.95915 13.98707 59 BONDURANT 3,860 154,087,155 2,812,429 *8.10000 *8.10000 0.47611 3.00375 3.27695 2.03315 13.88621 60 MONTICELLO 3,796 115,530,857 1,960,358 *8.10000 *8.10000 3.00375 2.18286 3.58612 13.86898 61 MARION 34,768 1,393,433,278 3,164,617 *8.10000 *8.10000 0.53654 3.00375 2.13362 3.05092 13.82108 62 HAMPTON 4,461 99,444,267 1,273,054 *8.10000 *8.10000 2.40185 3.00375 3.31045 13.81230 63 MASON CITY 28,079 1,032,560,178 7,098,641 *8.10000 *8.10000 0.31239 3.00375 2.74350 2.55679 13.71268 64 CRESTON 7,834 206,491,304 327,627 *8.10000 *8.10000 1.59328 3.00375 0.27000 3.73284 13.69612 65 EMMETSBURG 3,904 123,478,548 853,072 *8.10000 *8.10000 0.66633 3.00375 0.27000 0.25638 4.35996 13.65267 66 GLENWOOD 5,269 150,004,697 138,777 *8.10000 *8.10000 1.17863 3.00375 0.27000 0.35320 3.67855 13.58038 67 CORALVILLE 18,907 923,017,916 1,160,641 *8.10000 *8.10000 1.36738 3.00375 2.12539 1.93502 13.52779 68 WAUKEE 13,790 704,992,568 3,953,868 *8.10000 *8.10000 3.00375 3.32000 2.08000 13.50000 69 LE MARS 9,826 353,188,229 771,477 *8.10000 *8.10000 3.00375 1.03644 4.36355 13.49999 70 SHELDON 5,188 117,510,272 300,579 *8.10000 *8.10000 0.26999 3.00087 0.26999 1.28901 3.48256 13.41155 71 WAUKON 3,897 104,825,400 506,854 *8.10000 *8.10000 1.10847 3.00375 0.27000 2.27244 1.58788 13.33879 72 MOUNT VERNON 4,506 126,885,416 1,475,093 *8.10000 *8.10000 1.72800 3.00375 0.27000 2.22600 0.67500 12.99900 73 GRIMES 8,246 566,992,253 3,307,222 *8.10000 *8.10000 0.46914 3.00375 0.26970 2.30338 1.77251 12.91473 74 INDIANOLA 14,782 481,746,187 1,407,597 *8.10000 *8.10000 3.00375 1.65013 2.95010 12.70023 75 MAQUOKETA 6,141 198,555,799 1,080,926 *8.10000 *8.10000 0.51743 3.00375 0.72359 3.30607 12.64709 76 SERGEANT BLUFF 4,227 165,415,526 172,882 *8.10000 *8.10000 0.17871 3.00375 2.72241 1.59948 12.60060 77 BETTENDORF 33,217 2,101,207,268 4,162,430 5.04127 5.07449 0.65867 3.00375 5.00000 1.81684 12.55000 78 MOUNT PLEASANT 8,668 273,164,970 1,357,036 8.09931 8.09998 3.00287 3.15464 0.92610 12.18072 79 WEST DES MOINES 56,609 4,324,075,301 6,129,267 *8.10000 *8.10000 0.14110 3.00375 0.27000 1.95000 1.53890 12.00000 80 SPENCER 11,233 460,899,195 1,886,266 *8.10000 *8.10000 0.27571 3.00375 1.08545 2.53054 11.99170 81 CAMANCHE 4,448 164,855,827 3,165,462 *8.10000 *8.10000 3.00375 2.20781 1.56353 11.87134

FINANCIAL SUMMARY

TOTAL CITY CENSUS REGULAR W/ G&E AGLAND FY13/14 FY14/15 8.10000 LEVY LEVY SERVICE BENFIT IMPROVE W/OUT AG 82 SIOUX CENTER 7,048 261,181,223 1,909,721 *8.10000 *8.10000 0.64221 3.00375 0.49938 2.58441 11.82600 83 ANKENY 45,582 2,667,877,529 3,458,535 6.89000 6.79000 0.15000 3.00375 4.25000 0.56000 11.75000 84 PLEASANT HILL 8,785 465,589,247 1,427,783 *8.10000 *8.10000 3.00375 0.27000 1.37572 1.90428 11.65000 85 CARROLL 10,103 473,025,129 542,840 *8.10000 *8.10000 0.42281 3.00375 1.28762 1.76629 11.57672 86 JOHNSTON 17,278 1,205,068,053 3,525,664 7.70054 7.73983 3.00375 3.66017 11.40000 87 CEDAR FALLS 39,260 1,574,489,248 5,807,960 *8.10000 *8.10000 0.86910 3.00375 0.57527 1.67530 11.21967 88 DUBUQUE 57,637 2,358,056,508 2,944,944 *8.10000 *8.10000 0.64702 3.00375 0.11400 2.30637 11.16739 89 NORTH LIBERTY 13,374 757,979,781 1,801,641 *8.10000 *8.10000 3.00375 1.12753 1.80511 11.03264 90 SPIRIT LAKE 4,840 219,350,941 634,264 *8.10000 *8.10000 0.24899 3.00375 0.22500 1.97001 10.54400 91 ASBURY 4,170 158,131,769 479,539 *8.10000 *8.10000 3.00375 0.26991 1.46460 0.66549 10.50000 92 AMES 58,965 2,603,065,698 1,648,505 5.77474 5.60071 0.64261 3.00375 3.41087 0.71908 10.37327 93 PELLA 10,352 466,398,334 2,063,876 *8.10000 *8.10000 0.23585 3.00375 1.86415 10.20000 94 CLIVE 15,447 1,246,855,308 364,247 7.16982 7.07172 3.00375 1.48295 1.59032 10.14499 95 CLEAR LAKE 7,777 477,106,239 3,085,988 7.86548 7.88073 0.36679 3.00375 0.53304 1.26814 10.04870 96 ALTOONA 14,541 595,368,910 1,153,730 *8.10000 *8.10000 3.00375 0.39142 1.45227 9.94369 97 URBANDALE 39,463 2,629,574,805 3,247,998 7.17000 7.17000 3.00375 2.18000 0.57000 9.92000 98 DYERSVILLE 4,058 215,018,371 1,805,449 8.07033 8.00000 3.00375 0.89957 8.89957 99 EVANSDALE 4,751 121,031,623 172,632 5.10396 5.50066 0.06750 1.00213 0.07829 1.77111 7.41756 100 ELDRIDGE 5,651 351,482,772 4,799,176 6.58770 6.53446 0.08592 2.9901 0.12803 6.74841 January 1, 2013 $8.10 LEVY TAXABLE VALUE GENERAL OTHER LEVIES 2010 OUTSIDE AGLAND EMERG DEBT EMPLOY CAPITAL REGULAR

RANK

FINANCIAL SUMMARY

2017

ANNUAL FINANCIAL SUMMARY CITY OF SPENCER, IOWA

SUMMARY OF BANK ACCOUNTS Total Cash Transactions of all funds for the period July 1, 2016 through June 30, 2017, excluding Spencer Municipal Utilities and Spencer Hosptial Accounts.

CITY CLERK'S BOOK BALANCE JULY 1, 2016 PLUS: Receipts for Year Ending June 30, 2017 TOTAL TO ACCOUNT FOR: LESS: Disbursements for Year Ending June 30, 2017 CITY CLERK'S BOOK BALANCE JUNE 30, 2016

$ 25,977,779.45 39,086,531.95 $

65,064,311.40

35,166,818.84

29,897,492.56

144,831.22 (5,300.00) (31,705.33) (13,000,000.00) (24,143.86) -

PLUS: Warrants Outstanding LESS: Petty Cash LESS: Police Forfeiture Acct- Farmers Bank LESS: Investments LESS: Outstanding Deposit/Wire

LESS: Adjustment

$ 16,981,174.59

RECONCILED CASH BALANCE OF ALL FUNDS IN FARMERS BANK CHECKING ACCOUNT: June 30, 2016

STATEMENT OF BANK BALANCES AND SECURITIES As of June 30, 3017 (Excluding Spencer Municipal Utilities and Spencer Hospital)

$ 16,981,174.59 13,000,000.00

Checking IMMIA

INVESTMENTS - CERTIFICATE OF DEPOSITS: Farmers Bank CSI - Escrow/Wells Fargo

- -

-

TOTAL INVESTMENTS

$ 29,981,174.59

TOTAL BANK BALANCES AND SECURITIES

FINANCIAL SUMMARY

2017

ANNUAL FINANCIAL SUMMARY CITY OF SPENCER, IOWA

SUMMARY OF BANK ACCOUNTS CONTINUED

RCONCILIATION TO POOLED CASH

As of June 30, 2017

TOTAL BANK BALANCES AND SECURITIES

$ 29,981,174.59 24,143.86 5,300.00 31,705.33 - (144,831.22)

LESS: Warrants Outstanding PLUS: Outstanding Deposits PLUS: Petty Cash PLUS: Police Forfeiture Account PLUS: Adjustment

29,897,492.56

CASH IN BANK - POOLED CASH

FINANCIAL SUMMARY

2017

ANNUAL FINANCIAL SUMMARY CITY OF SPENCER, IOWA

RECAP OF CASH IN TRANSIT FUNDS

FARMERS BANK: GOLF COURSE - PETTY CASH PETTY CASH BOX: CITY HALL POLICE LIBRARY SOLID WASTE TRANSFER STATIO CAMPGROUNDS AQUATIC CENTER LANDFILL

$

3,500.00

350.00 350.00 300.00 200.00 100.00 200.00 300.00

$

5,300.00

TOTAL - CASH IN TRANSIT

FINANCIAL SUMMARY

2017

ANNUAL FINANCIAL SUMMARY CITY OF SPENCER, IOWA

INTEREST EARNED BY FUND General - Cemetery General RC - Property Insurance

$

2,052.59 27,124.91 1,292.32 295.15 160.65 865.84 540.56 52.26 2,230.93 - 4,461.76 19,403.14 6,470.84 4,433.27 3,462.88 9,424.99 6,895.49 1,403.16 2,110.19 10,507.61 2,747.38 1,076.46 4,392.14 570.15 1,436.41 - 99.70 1,456.37 520.47 220.42 974.37 662.78

RC - Cemetery Reserves RC - Columbarium Reserves

RC - Library Reserves

RC - Comm. Center Reserves RC - Drug Education RC - Police Equip. Reserves

RC - E.D. Shine Loan RC - Renaissance Initiative RC - Cable TV Reserves RC - SRTS/Sidewalk Reserves RC - Economic Development RC - Public Works Sinking RC - Storm Water #1 RC - City Hall Reserves RC - Storm Sewer Reserves RC - Hotel/Motel RC - Spencer Cares RC - Fire Capital Improvement RC - Capital Improvement Reserves RC - Street Improvement Reserves RC - Park Reserves RC - DARE RC - Bridge Reserves

RC - Emergency Fund

RC - Quality Housing Initiative

RC - Technology Fund RC - Accrued Benefits

Sp. Rev. - Civil Service Expense Sp. Rev. - Civil Service Police Sp. Rev. - Civil Service Police Spec. Proceeds Sp. Rev. - Civil Service Fire Sp. Rev. - Trees Forever

197.86 311.51 13.88

1,041.22 4,980.20 518.74 5,907.26

Local Option Sales Tax TIF

Sales Tax TIF Debt Service

FINANCIAL SUMMARY

199.19 47.26 670.08 595.25 180.28

Riverside Trust Columbarium Vault North lawn Perpetual Care

Griffin Trust Leach Trust WTP Reserves Sewer

14,016.71 11,078.18 10,916.76 7,482.78 3,298.09 780.45 4,991.27 7,820.11 7,572.57 160.65 13,979.49 11,908.05 2,089.91 1,535.66 15,736.43 7,827.05 1,798.27 6,631.83 124.11 818.60 102.20 2,357.99 58.88

Sanitary Sewer Reserve

Landfill Post Closure CSI Reserve Sewer Revenue Bond Sinking Airport Enterprise Airport Reserve Solid Waste Solid Waste Reserve SW Transfer Station Closure Landfill Landfill Improvement Fund Landfill Comp Planning Landfill Environmental Protection Landfill Closure Landfill Environmental Management Landfill Cell Construction Landfill Regional Collection Center

Golf Course Enterprise Golf Course Reserve

Fuel Equipment Hoeppner Trust

TOTAL

$265,093.96

FINANCIAL SUMMARY

2016

ANNUAL FINANCIAL SUMMARY CITY OF SPENCER, IOWA

INTEREST HISTORY

RATES

FISCAL YEAR

CHECKING

CD'S

2001/2002 2002/2003 2003/2004 2004/2005 2005/2006 2006/2007 2007/2008 2008/2009 2009/2010 2010/2011 2011/2012 2012/2013 2013/2014 2014/2015 2015/2016 2016/2017

3.70% 3.50% 3.50% 3.50% 3.63% 3.50%

N/A N/A N/A N/A N/A

5.45%

3.50% 3.97-5.61% 3.25-3.50% 3.50-5.37% 2.5-3.0% 3.5-3.6%

2.5-2.0%

.75-1.05

1.75-1.38% .75-1.05

1.38-1.0% 1.0-0.85% 0.85-0.90%

N/A N/A N/A N/A N/A

0.90% 1.00%

FINANCIAL SUMMARY

2017

ANNUAL FINANCIAL SUMMARY CITY OF SPENCER, IOWA

RECEIPTS AND EXPENDITURES

The following is a total of all receipts and expenditures for the City of Spencer, Iowa including the City Government and City Business Type Activities, but not including the receipts and expenditures of the Spencer Municipal Utilities and the Spencer Municipal Hospital, which are reported separately, for the period July 1, 2016 to June 30, 2017.

RECEIPTS: Received from Property Taxes Received from Intergovernmental Sources Received from all other Sources Funds Transferred In Bond Proceeds

6,517,141.94 4,784,636.30 12,169,309.49 12,161,540.21 3,453,904.01

TOTAL RECEIPTS:

$

39,086,531.95

EXPENDITURES: Public Safety Public Works

1,717,615.16 2,782,315.95 1,763,496.50 1,823,306.95 8,559,011.23 94,446.28 12,161,540.21 3,186,702.18 1,468,001.86 1,610,382.52

Culture / Recreational Community / Economic Development

General Government Debt Service Capital Improvements Business Type Activities Agency Funds Funds Transferred Out

TOTAL EXPENDITURES:

$

35,166,818.84

FINANCIAL SUMMARY

2017

ANNUAL FINANCIAL SUMMARY

CITY OF SPENCER, IOWA

BUDGET STATUS REPORT - YEAR TO DATE RECEIPTS & COMPARISON

CURRENT CURRENT YEAR ACTUAL

PRIOR YEAR PRIOR YEAR CURRENT

BUDGET

ACTUAL

DEPARTMENT / FUND

BUDGET

ACTUAL

VS . BUDGET

VS . PRIOR

POLICE

76,900.00 210,983.00 1,000.00 31,350.00 3,500.00 15,500.00 28,500.00 6,000.00 35,000.00 36,100.00 72,950.00 6,406,498.00 6,924,281.00 191,933.00 20,100.00

81,450.93 193,588.67

5.92% -8.24% -75.48% 59.99% -68.71% 72.00% 29.55% 44.18% 22.09% 25.73% -21.43%

85,500.00 202,826.00 1,000.00 32,850.00 3,500.00 10,000.00 28,500.00 1,500.00 34,500.00 35,100.00 61,550.00

101,052.38 182,439.05

-19.40%

COMMUNICATION CENTER

6.11%

FIRE

245.24

450.25

-45.53% -28.32% -71.52% 96.35% -1.18% 76.36% -22.27% -12.91% 16.07% 14.09% -22.05% -35.83% 9.96% 0.96% 45.88% 8.58% 1.39% 9.78% 95.86% 75.19% 196.62% -80.10% 4.22% 2342.50%

BLDG/INSPECTIONS ANIMAL CONTROL

50,155.53 1,095.00 26,660.32 36,920.72 8,650.85 42,733.00 45,388.81 57,319.10

69,975.43 3,845.00 13,578.10 37,362.06 4,905.31 54,973.00 41,278.25 65,817.54

GENERAL - RUT

LIBRARY

PARK

CAMPGROUND

AQUATIC CENTER

CEMETERY

GENERAL GOVERNMENT

6,608,335.68 7,152,543.85 193,704.30 20,295.15

3.15% 5,622,283.57 3.30% 6,119,109.57

5,693,441.71 6,269,118.08 248,501.74 31,625.91

TOTAL GENERAL FUND

020-PROPERTY INSURANCE 040-CEMETERY RESERVE 041-RIVERSIDE COLUMBARIUM

0.92% 0.97%

241,028.00 20,100.00

-

160.65

-

154.14

045-LIBRARY RESERVE 047-COMM CTR RESERVE 049-DRUG RESERVE 050-POLICE RESERVE

25,500.00 10,100.00

25,865.84 10,540.56 5,416.26 75,488.04

1.43% 4.36%

500.00

1,058.99 10,440.30 3,712.85 69,523.02

10,100.00

50.00

10732.52%

-

65,500.00

15.25%

62,000.00

051-D.A.R.E.

-

-

-

-

052-FIRE RESERVE

115,250.00

119,106.81 1,733,591.50 698,327.53 239,636.47 158,462.88 123,017.49

3.35%

115,500.00

117,473.95 1,579,188.94 356,544.29 136,783.45 53,422.29 618,232.07 50,453.83 25,195.16 250,610.78 31,241.69 20,834.86 109,627.97 357,501.96 10,958.81 513,968.34 - 926.28 652.80

053-CAPITAL IMPROVEMENT RESE 1,361,806.00

27.30% 1,161,600.00

453,000.00 119,775.00 51,300.00 176,169.00 50,100.00 25,150.00

54.16% 100.07% 208.89% -30.17% 0.84% 0.28% 94.87% 5.00% 3.30% 34.95%

453,000.00 123,775.00 70,800.00 154,000.00 50,075.00 25,150.00

054-STR IMP RESERVE 056-PARK RESERVE

060-SRTS/SIDEWALK RESERVE 061-ECONOMIC DEVELOPMENT

50,520.51 25,220.42

0.13% 0.10% 5.19% 1.53%

062-SHINE LOAN

063-RENAISSANCE INITIATIVE

500.00

974.37 662.78

375.00 250.00

064-CABLE TV

-

065-BRIDGE RESERVE

153,000.00 30,400.00 16,000.00

160,649.49 31,403.16 21,591.87 283,507.61 339,222.75 11,076.46 25,945.44 200,570.15 -

151,500.00 30,400.00 15,600.00

-35.90%

066-P.W. SINKING

0.52% 3.63%

068-CITY HALL RESERVE 070-ST WATER DIST #1 071-ST WATER DIST #2 080-STORM SWR RESERVE 085-HOTEL/MOTEL 087-SPENCER CARE 089-EMERGENCY FUND 090-QUALITY HSG INITIATIVE

-

-

4,000.00

6987.69% 190,000.00

158.61% -5.11% 1.07% -94.95% ########

285,000.00 10,500.00

19.03% 5.49%

196,000.00 10,200.00

1,000.00

2494.54% 100.07%

500.00 500.00

100,250.00

853.38

FINANCIAL SUMMARY