|
The following is a summary of the City's changes in net assets:
<br />Governmental Business -Type
<br />Activities
<br />2011 2010 2011 2010 2011 2010
<br />Revenues
<br />Program revenues
<br />Charges for services $ 1,979,537 $ 1,839,273 $ 4,151,812 $ 3,986,557 $ 6,131,349 $ 5,825,830
<br />Operating grants and contributions 298,077 326,986 50,279 49,873 348,356 376,859
<br />Capital grants and contributions 4,187,265 2,828,240 88,349 310,040 4,275,614 3,138,280
<br />General revenues
<br />Property taxes 11,671,760 12,144,908 - - 11,671,760 12,144,908
<br />General grants and contributions 120,932 114,692 - - 120,932 114,692
<br />Sale of capital assets 14,716 - 14,716
<br />Investment earnings 903,786 1,283,533 460,228 631,042 1,364,014 1,914,575
<br />Total revenues 19,176,073 18,537,632 4,750,668 4,977,512 23,926,741 23,515,144
<br />Expenses
<br />General government 5,559,732 4,998,807 - - 5,559,732 4,998,807
<br />Public safety 4,307,045 4,153,361 - - 4,307,045 4,153,361
<br />Highways and streets 6,129,272 5,791,896 - - 6,129,272 5,791,896
<br />Culture and recreation 1,267,292 1,048,690 - 1,267,292 1,048,690
<br />Water utility 1,358,050 1,295,721 1,358,050 1,295,721
<br />Sewer utility - - 1,149,318 1,101,554 1,149,318 1,101,554
<br />Street Light utility - - 163,758 158,369 163,758 158,369
<br />Recycling utility - - 302,947 307,662 302,947 307,662
<br />Storm Water utility 410,666 350,521 410,666 350,521
<br />Interest and fiscal charges 1,302,228 1,316,893 1,302,228 1,316,893
<br />Total expenses 18,565,569 17,309,647 3,384,739 3,213,827 21,950,308 20,523,474
<br />Changes in net assets before transfers 610,504 1,227,985 1,365,929 1,763,685 1,976,433 2,991,670
<br />Transfers 1,199,585 (125,751) (1,199,585) 125,751
<br />Changes in net assets 1,810,089 1,102,234 166,344 1,889,436 1,976,433 2,991,670
<br />NetAssets - beginning 74,522,018 73,419,784 75,345,808 73,456,372 149,867,826 146,876,156
<br />Net Assets - ending $ 76,332,107 $ 74,522,018 $ 75,512,152 $ 75,345,808 $ 151,844,259 $ 149,867,826
<br />Governmental Activities - Governmental activities account for 92% growth in the City's net assets (approx.
<br />$1.8 million). Charges for services increased by 8 %, or $140,264. Property taxes decreased $473,148
<br />(approximately 4 percent) during the year. This percentage change reflects the current economy that stills sees
<br />a large number of foreclosures and job loss. Investment earnings also decreased nearly $380,000 or 30% as a
<br />result of a less favorable investment environment due to financial markets. Capital grants and contributions
<br />increased 48% or $1,359,025 due to an increase of funds received from the county for more county road
<br />improvement projects than the prior year. The culture and recreation function experienced a $218,602 increase
<br />(21 percent) in expenses attributable to the city's Draw Park coming online in 2011. The general government
<br />function experienced a $560,925 increase (11 percent) in expenses. The increase in governmental expenditures
<br />was due to administrative expenditures - legal, development and fmancial in relationship to selling a parcel in
<br />the COR area and a Joint Powers Agreement with the County in which the city contributed for a share of
<br />improvements. The highways and streets function experienced a $337,376 increase (6 percent) in expenses.
<br />This increase was due to the construction of a county road in which the city contributed in the cost of
<br />construction, but does not own. Transfers increased significantly due to an internal transfer from the water
<br />utility fund to a governmental fund for internal borrowing of municipal center debt.
<br />28
<br />Changes in Net Assets
<br />Activities Total
<br />
|