UERPC Financial Report
June 30, 2022
A note from UERPC Executive Director Rachelle Howe:
Upper Explorerland Regional Planning Commission (UERPC) has played an important role in the quality of life of Northeast Iowa residents since 1972. UERPC specializes in areas of transportation, planning, energy, housing and economic and community development, just to name a few. In their pursuit for quality growth and prudent development, the communities and counties of Northeast Iowa are working with UERPC, a public organization with over 50 years of experience, on issues related to economic development, community planning, housing, workforce and transportation needs.
As UERPC celebrated its 50th Anniversary this past year, I would like to quote Elizabeth Warren, “Plans are the essential means by which we chart a course for our collective future.” And I believe UERPC has charted a course for the region to be a center of planning efforts and flourishing in projects.
Anniversaries are the time to reflect on years gone by and memories shared with great partners. It doesn’t matter where you go in your life, it matters the most with whom you have beside you. And I can say we have some of the best partners within our five counties and 52 cities here in Northeast Iowa. When I reflect on the depth of our work, it amazes me. From playgrounds to water lines to housing rehabilitation to walking school buses to planning efforts to fiber builds. UERPC has brought in over $288 million to the region since 1972. These efforts are reflected as well within the June 30, 2022 Financial Report.
As you read the FY2022 Financial Report one can ask oneself, is the Commission as a whole better or worse off as a result of the year’s activities? You will see that UERPC’s housing programs are down, therefore showing lower revenue. Housing Community Development Block Grants (CDBG) have taken on a new life, entitled Neighborhood Revitalizations. The state economic development office wanted to see a more inclusive plan for specific neighborhoods. This reduced funding to UERPC as CDBGs were one of the mainstays for our housing department. Iowa Economic Development Authority will now award three to five housing projects each year verses 30 projects. To reflect the reduction in funding with housing CDBGs, UERPC had to reduce staffing.
THE 2022 FINANCIAL HIGHLIGHTS
- The Commission implemented Governmental Accounting Standards Board Statement (GASBS) No. 87, Leases, during fiscal year 2022. The implementation of this standard revised certain asset and liability accounts related to leases, however, had no effect on the beginning net position.
- Revenues of the Commission’s governmental activities decreased 17.36% or $464,993 from FY2021 to FY2022.
- Program expenses decreased 4.45% or $84,925 less in FY2022 than in FY2021.
- The Commission’s net position increased 16.5% or $389,262 from June 30, 2021 to June 30, 2022.
My vision for next year and the future of UERPC is to continue the great work we do. But I would be remiss if we stayed status quo, my vision is to increase the projects and funding to our region. For this vision to be successful, it will again require all of our employees and stakeholders to get involved. The UERPC employees share my vision, they show me every day their passion for the region and eagerness to help our communities and residents. You as stakeholders can play a part in making it happen by being the eyes and ears within the region. Let’s build on the 50-year foundation since the establishment of UERPC and make this part of our state even better.