Question 1

Where does municipal finance data come from?

Accepted Answer

Municipal finance data comes from the Iowa Department of Management, which collects Annual Financial Reports (AFRs) from every Iowa city. Data includes revenue, expenditures by function, fund balances, and debt outstanding.

Question 2

What are the main revenue sources for a municipality?

Accepted Answer

Most Iowa cities rely on property taxes, local option sales tax (LOST — a 1% tax approved by voters in most counties), charges for services, franchise fees on utilities, road use tax distributions from the state, and intergovernmental transfers. Iowa has no state-level revenue sharing program.

Question 3

What is a General Fund and why does it matter?

Accepted Answer

The General Fund is the municipality's primary operating fund. It covers core services like police, fire, public works, and administration. A healthy General Fund balance (typically 25-50% of annual expenditures) indicates the town can handle unexpected expenses without raising taxes or cutting services.

Question 4

How current is this financial data?

Accepted Answer

Iowa DOM data typically lags 12-18 months behind the current fiscal year (which ends June 30). The most recent year with complete data is usually one to two fiscal years prior.

Delmar, IA

Delmar Municipal Budget

Finances — FY 2026