Recommended Fiscal Year 2024 Dollars and Cents BrochureCopyrighted
March 23, 2023
City of Dubuque
Special Meeting Action Items # 01.
IT E M T I T L E:Recommended F iscal Year 2024 Dollars and Cents B rochure
S UM M ARY:City Manager providing a copy of the Recommended Fiscal Year 2024
Dollars and Cents B rochure.
S UG G E S T E D
D I S P O S I T I O N:
Suggested Disposition: Receive and F ile
AT TAC H ME N TS:
Description Type
Updated Brochure_Uploaded 3.22.23 Supporting Documentation
Brochure Supporting Documentation
DOLLARS &CENTS FY2024
CITY PORTION OF PROPERTY TAXES
City of Dubuque FY2024
Recommended Property Tax Rate
• $9.9013 per thousand dollars assessed value
• Increase of 1.90% from FY2023
Property Type Avg. Property Tax Cost
Change from FY2023
% Property Tax Cost Change
from FY2023
Residential $23.25 more 2.94% increase
Commercial $268.52 more 8.77% increase
Industrial $296.26 more 6.55% increaseDubuqueAmesAnkenySioux CityIowa CityCedar RapidsDavenportAvg. w/o DubuqueWest Des MoinesDes MoinesCouncil BluffsWaterlooCity Propety Tax Rate Comparison
$9.90 $9.96 $10.53
$11.76
$14.79 $15.42 $15.63 $16.03 $16.78 $17.56 $18.26
$20.81
$0
$5
$10
$15
$20
$25
• Highest-ranked city (Waterloo - $20.81) is
110% higher than Dubuque
• Average of other 10 cities ($14.79) is
49% higher than Dubuque
City Property Tax Rate Comparison
Dubuque Community
School District
45.5%
City of Dubuque
31.8%
Dubuque
County
17.5%NICC
3.0%
Other
2.2%
FY2023 Consolidated Rate of 30.55266
Where Do Your
Property Taxes Go?
Recommended
GENERAL FUND
CITY BUDGET
The City of Dubuque’s Fiscal Year (FY) 2024 budget runs from
July 1, 2023, through June 30, 2024. The budget has two
primary components: the operating budget and the capital budget.
The operating budget includes personnel costs and annual facility
operating costs. It is funded primarily through local property and
sales taxes.
The capital budget funds major improvements to City facilities
and infrastructure. The capital budget is supported through
multiple funding sources, including federal and state grants.
The general fund is the operating fund for general City departments and their programs/services, such as
public safety, culture & recreation, health & social services, and general government.
FY2024 City Budget
(Recommended)
OPERATING
BUDGET
$57,186,070
$134,086,573
Major Funds Operating Capital
General Fund $81,022,408 $115,000
Water Fund $9,777,127 $11,658,760
Sanitary Sewer Fund $12,440,629 $9,560,442
Stormwater Fund $4,872,784 $524,920
Refuse $3,827,298 $462,454
Parking $2,832,267 $106,409
OPERATING
BUDGET
CAPITAL
BUDGET
$76,554,143
$160,971,276
The City’s total budget recommended for FY2024 is $237,525,419
How General Fund Money is Spent
Category Portion of General Fund
Public Safety 42.5%
Culture & Recreation 18.7%
General Government 15.3%
Public Works 8.9%
Community & Economic Development 6.6%
Capital Projects 0.1%
Health & Social Services 1.4%
Debt Service 0.2%
Other 6.3%
The City maintains a general fund reserve,
or working balance, to allow for unforeseen
expenses that may occur. The goal is to
have at least a 20% reserve.
FY2023 FY2024 FY2025 FY2026 FY2027
City’s Spendable General Fund
Cash Reserve Fund Balance $35,459,518 $29,659,518 $23,859,518 $18,059,518 $18,059,518
% of Projected Revenue 50.18%41.97%33.76%25.56%25.56%
General Fund Reserve Projections
Water
SanitarySewer
CurbsideCollection
(Trash & recycling)
Stormwater
Major FundsOperatingCapital
General Fund$81,022,408$115,000
Water Fund$9,777,127$11,658,760
Sanitary Sewer Fund$12,440,629$9,560,442
Stormwater Fund$4,872,784$524,920
Refuse$3,827,298$462,454
Parking$2,832,267$106,409
FY2023FY2024FY2025FY2026FY2027
City’s Spendable General Fund
Cash Reserve Fund Balance$35,459,518$29,659,518$23,859,518$18,059,518$18,059,518
% of Projected Revenue50.18%41.97%33.76%25.56%25.56%
What’s Included in YourMonthly Utility Bill?
Recommended FY24 Rate:
Avg. Household Rate:
$35.82 / month*
(8% increase from FY2023)
Avg. Household Rate:
$50.22 / month***
(6% increase from FY2023)
Basic Rate $15.83/month*
(2.93% increase from FY2023)
Curbside collection of recycling is
no extra charge.
Avg. Household Rate:
$10.00 / month**
(11.11% increase increase from FY2023)
Ranking Among Iowa’s Largest Cities:
2nd Lowest
(Highest, West Des Moines, is 20% higher than Dubuque,
and average is 8% higher than Dubuque)
4th Highest
(Highest, Davenport, is 21% higher than Dubuque,
and average is 15% lower than Dubuque)
Lowest
(Highest, Ames, is 84% higher than Dubuque,
and average is 36% higher than Dubuque)
2nd Highest
(Highest, Des Moines, is 64% higher than Dubuque,
and average is 34% lower than Dubuque)
***Average household rate based on 6,000 gallons per month at $0.00837 per gallon. The City’s wastewater collection and
treatment system operates as a self-supporting enterprise fund which means that it is funded only with revenue from user fees.
*Average household rate based on 6,000 gallons per month at $0.00597 per gallon
**Monthly rate for majority of Dubuque households based on usage of one single family unit. Stormwater fees are based on
the amount of impervious ground coverage on a property. Fees collected are only used for stormwater management activities
such as the construction, maintenance and operation of the public stormwater management system.
The City offers income-qualified residential customers a reduction
in monthly fees for water, sanitary sewer, refuse collection, and
stormwater utilities. Customers must submit an application for
consideration. Applications are renewed on an annual basis.
LEARN MORE
www.cityofdubuque.org/UtilityBilling or 563-589-4144
Water
SanitarySewer
CurbsideCollection
(Trash & recycling)
Stormwater
REDUCED FEES FOR INCOME-ELIGIBLE RESIDENTS
Street Improvements
Fire Department Ladder Trucks
81%
60%54%54%52%51%
45%41%
31%
24%19%19%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%Dubuque (FY24)AmesAnkenySioux CityIowa CityCedar RapidsDavenportAvg. w/o DubuqueWest Des MoinesDes MoinesCouncil BluffsWaterlooTop 10 Debt Uses
(as of June 30, 2023)
2 Water & Resource Recovery Center
3 Water Improvements
4
5
6
7
8
9
10
Statutory Debt Li mi t Used
(FY2024 Recommended)
90%
41%
23%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 FY27 FY28 FY29 FY30 FY31 FY32 FY33
Total Debt i n Mi l l ions
(FY2024 Recommended)
$0
$50
$100
$150
$200
$250
$300
$350
FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 FY27 FY28 FY29 FY30 FY31 FY32 FY33
$295.5
$250.0
$277.2
$155.9
Comparison of Statutory Debt Limit Utilized
(FY2022)
DEBT REDUCTION PLAN
Adopted August 2015
The City of Dubuque’s use of debt
can be compared to many average
homeowners who borrow to buy
their home. The City has borrowed
money at low interest rates to
invest in infrastructure. Unlike
the federal government, the City
does not borrow money to cover
operating expenses.
Total Debt (in millions)
Debt is being issued each year, but more is being retired than is issued.
Statutory Debt Limit Used
This chart shows the percentage of statutory debt limit in the
Fiscal Year (FY) 2024 recommended budget. By FY2033, the City
will be at 23% of the statutory debt limit.
Dubuque ranks as the fifth lowest and is below
the average of the other cities. The average is
10% higher than Dubuque and the highest (Des
Moines, 81%) is 100% higher than Dubuque.
*Forgivable SRF debt is not shown
(FY24 $4,813,335; FY25 $9,654,750;
FY26 $9,694,980; FY27 $4,655,835;
and FY28 $157,500)
1 Stormwater Improvements $70,680,924
# Project Description and Amount Outstanding
$50,195,000
$27,025,430
Sanitary Sewer Improvements $25,213,340
Parking Improvements $21,188,482
Downtown TIF Incentives/Improvements $19,327,399
Industrial Park Expansions $10,897,22 4
Park and Recreation Improvements $6,973,814
Public Safety Improvements $4,406,310
TIF Rebates/Bonds to Businesses $3,916,272
CM033-032223
* $167 million has been spent on street improvements from 1997-2022
Total $239,824,195
DOLLARS &CENTS FY2024
CITY PORTION OF PROPERTY TAXES
City of Dubuque FY2024
Recommended Property Tax Rate
• $9.9013 per thousand dollars assessed value
• Increase of 1.90% from FY2023
Property Type Avg. Property Tax Cost
Change from FY2023
% Property Tax Cost Change
from FY2023
Residential $23.25 more 2.94% increase
Commercial $268.52 more 8.77% increase
Industrial $296.26 more 6.55% increaseDubuqueAmesAnkenySioux CityIowa CityCedar RapidsDavenportAvg. w/o DubuqueWest Des MoinesDes MoinesCouncil BluffsWaterlooCity Propety Tax Rate Comparison
$9.90 $9.96 $10.53
$11.76
$14.79 $15.42 $15.63 $16.03 $16.78 $17.56 $18.26
$20.81
$0
$5
$10
$15
$20
$25
• Highest-ranked city (Waterloo - $20.81) is
110% higher than Dubuque
• Average of other 10 cities ($14.79) is
49% higher than Dubuque
City Property Tax Rate Comparison
Dubuque Community
School District
45.5%
City of Dubuque
31.8%
Dubuque
County
17.5%NICC
3.0%
Other
2.2%
FY2023 Consolidated Rate of 30.55266
Where Do Your
Property Taxes Go?
Recommended
GENERAL FUND
CITY BUDGET
The City of Dubuque’s Fiscal Year (FY) 2024 budget runs from
July 1, 2023, through June 30, 2024. The budget has two
primary components: the operating budget and the capital budget.
The operating budget includes personnel costs and annual facility
operating costs. It is funded primarily through local property and
sales taxes.
The capital budget funds major improvements to City facilities
and infrastructure. The capital budget is supported through
multiple funding sources, including federal and state grants.
The general fund is the operating fund for general City departments and their programs/services, such as
public safety, culture & recreation, health & social services, and general government.
FY2024 City Budget
(Recommended)
OPERATING
BUDGET
$57,186,070
$134,086,573
Major Funds Operating Capital
General Fund $81,022,408 $115,000
Water Fund $9,777,127 $11,658,760
Sanitary Sewer Fund $12,440,629 $9,560,442
Stormwater Fund $4,872,784 $524,920
Refuse $3,827,298 $462,454
Parking $2,832,267 $106,409
OPERATING
BUDGET
CAPITAL
BUDGET
$76,554,143
$160,971,276
The City’s total budget recommended for FY2024 is $237,525,419
How General Fund Money is Spent
Category Portion of General Fund
Public Safety 42.5%
Culture & Recreation 18.7%
General Government 15.3%
Public Works 8.9%
Community & Economic Development 6.6%
Capital Projects 0.1%
Health & Social Services 1.4%
Debt Service 0.2%
Other 6.3%
The City maintains a general fund reserve,
or working balance, to allow for unforeseen
expenses that may occur. The goal is to
have at least a 20% reserve.
FY2023 FY2024 FY2025 FY2026 FY2027
City’s Spendable General Fund
Cash Reserve Fund Balance $35,459,518 $29,659,518 $23,859,518 $18,059,518 $18,059,518
% of Projected Revenue 50.18%41.97%33.76%25.56%25.56%
General Fund Reserve Projections
Water
SanitarySewer
CurbsideCollection
(Trash & recycling)
Stormwater
Major FundsOperatingCapital
General Fund$81,022,408$115,000
Water Fund$9,777,127$11,658,760
Sanitary Sewer Fund$12,440,629$9,560,442
Stormwater Fund$4,872,784$524,920
Refuse$3,827,298$462,454
Parking$2,832,267$106,409
FY2023FY2024FY2025FY2026FY2027
City’s Spendable General Fund
Cash Reserve Fund Balance$35,459,518$29,659,518$23,859,518$18,059,518$18,059,518
% of Projected Revenue50.18%41.97%33.76%25.56%25.56%
What’s Included in YourMonthly Utility Bill?
Recommended FY24 Rate:
Avg. Household Rate:
$35.82 / month*
(8% increase from FY2023)
Avg. Household Rate:
$50.22 / month***
(6% increase from FY2023)
Basic Rate $15.83/month*
(2.93% increase from FY2023)
Curbside collection of recycling is
no extra charge.
Avg. Household Rate:
$10.00 / month**
(11.11% increase increase from FY2023)
Ranking Among Iowa’s Largest Cities:
2nd Lowest
(Highest, West Des Moines, is 20% higher than Dubuque,
and average is 8% higher than Dubuque)
4th Highest
(Highest, Davenport, is 21% higher than Dubuque,
and average is 15% lower than Dubuque)
Lowest
(Highest, Ames, is 84% higher than Dubuque,
and average is 36% higher than Dubuque)
2nd Highest
(Highest, Des Moines, is 64% higher than Dubuque,
and average is 34% lower than Dubuque)
***Average household rate based on 6,000 gallons per month at $0.00837 per gallon. The City’s wastewater collection and
treatment system operates as a self-supporting enterprise fund which means that it is funded only with revenue from user fees.
*Average household rate based on 6,000 gallons per month at $0.00597 per gallon
**Monthly rate for majority of Dubuque households based on usage of one single family unit. Stormwater fees are based on
the amount of impervious ground coverage on a property. Fees collected are only used for stormwater management activities
such as the construction, maintenance and operation of the public stormwater management system.
The City offers income-qualified residential customers a reduction
in monthly fees for water, sanitary sewer, refuse collection, and
stormwater utilities. Customers must submit an application for
consideration. Applications are renewed on an annual basis.
LEARN MORE
www.cityofdubuque.org/UtilityBilling or 563-589-4144
Water
SanitarySewer
CurbsideCollection
(Trash & recycling)
Stormwater
REDUCED FEES FOR INCOME-ELIGIBLE RESIDENTS
Street Improvements
Fire Department Ladder Trucks
81%
60%54%54%52%51%
45%41%
31%
24%19%19%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%Dubuque (FY24)AmesAnkenySioux CityIowa CityCedar RapidsDavenportAvg. w/o DubuqueWest Des MoinesDes MoinesCouncil BluffsWaterlooTop 10 Debt Uses
(as of June 30, 2023)
# Project Description and Amount Outstanding
1 Stormwater Improvements $76,527,913
2 Water & Resource Recovery Center $57,395,000
3 Water Improvements $30,069,008
4 Parking Improvements $23,769,184
5 Downtown TIF Incentives/Improvements $20,177,588
6 Sanitary Sewer Improvements $13,301,860
7 TIF Rebates/Bonds to Businesses $8,216,815
8 Industrial Park Expansions $6,412,953
9 Caradco Building Iowa Finance
Authority Loan $3,470,309
10 Street Improvements* $2,941,387
Total $242,283,017
* $162 million has been spent on street improvements from 1997-2021
Statutory Debt Li mi t Used
(FY2024 Recommended)
90%
41%
23%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 FY27 FY28 FY29 FY30 FY31 FY32 FY33
Total Debt i n Mi l l ions
(FY2024 Recommended)
$0
$50
$100
$150
$200
$250
$300
$350
FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 FY27 FY28 FY29 FY30 FY31 FY32 FY33
$295.5
$250.0
$277.2
$155.9
Comparison of Statutory Debt Limit Utilized
(FY2022)
DEBT REDUCTION PLAN
Adopted August 2015
The City of Dubuque’s use of debt
can be compared to many average
homeowners who borrow to buy
their home. The City has borrowed
money at low interest rates to
invest in infrastructure. Unlike
the federal government, the City
does not borrow money to cover
operating expenses.
Total Debt (in millions)
Debt is being issued each year, but more is being retired than is issued.
Statutory Debt Limit Used
This chart shows the percentage of statutory debt limit in the
Fiscal Year (FY) 2024 recommended budget. By FY2033, the City
will be at 23% of the statutory debt limit.
CM033-032223
Dubuque ranks as the fifth lowest and is below
the average of the other cities. The average is
10% higher than Dubuque and the highest (Des
Moines, 81%) is 100% higher than Dubuque.
*Forgivable SRF debt is not shown
(FY24 $4,813,335; FY25 $9,654,750;
FY26 $9,694,980; FY27 $4,655,835;
and FY28 $157,500)