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STATEMENT OF ACTIVITIES
<br />The Statement of Activities tracks the City's yearly revenues and expenses, as well as any other
<br />transactions that increase or reduce total net position. These amounts represent the full cost of providing
<br />services. The Statement of Activities provides a more comprehensive measure than just the amount of
<br />cash that changed hands, as reflected in the fund -based financial statements. This statement includes the
<br />cost of supplies used, depreciation of long-lived capital assets, and other accrual -based expenses.
<br />The following table presents the change in the net position of the City for the years ended December 31,
<br />2013 and 2012:
<br />Net (expense) revenue
<br />Governmental activities
<br />General government
<br />Public safety
<br />Highways and streets
<br />Culture and recreation
<br />Interest and fiscal charges
<br />Business -type activities
<br />Water utility
<br />Sewer utility
<br />Street light utility
<br />Recycling utility
<br />Storm water utility
<br />Total net (expense) revenue
<br />General revenues
<br />Property taxes
<br />General grants and contributions
<br />Investment earnings (charges)
<br />Sale of capital assets
<br />Total general revenues
<br />Change in net position
<br />Expenses
<br />2013
<br />Program
<br />Revenues
<br />Net Change
<br />$ 3,735,657 $ 2,964,184 $ (771,473)
<br />4,074,688 1,133,158 (2,941,530)
<br />5,215,260 1,868,477 (3,346,783)
<br />1,415,736 203,006 (1,212,730)
<br />1,220,471 — (1,220,471)
<br />2012
<br />Net Change
<br />$ (14,983,442)
<br />(2,795,303)
<br />(3,564,026)
<br />(549,386)
<br />(2,555,567)
<br />1,293,201 2,379,241 1,086,040 1,924,881
<br />1,190,551 1,425,022 234,471 472,253
<br />176,736 200,558 23,822 13,473
<br />308,629 377,392 68,763 43,587
<br />491,370 677,936 186,566 150,860
<br />$ 19,122,299 $ 11,228,974 (7,893,325) (21,842,670)
<br />10,421,456
<br />38,577
<br />(765,402)
<br />12,940
<br />9,707,571
<br />11,454,519
<br />9,175
<br />794,970
<br />12,258,664
<br />$ 1,814,246 $ (9,584,006)
<br />One of the goals of this statement is to provide a side -by -side comparison to illustrate the difference in the
<br />way the City's governmental and business -type operations are financed. The City's governmental
<br />operations tend to rely more heavily on general revenues, such as property taxes and unrestricted grants.
<br />In contrast, the City's business -type activities tend to rely more heavily on program revenues like charges
<br />for services (sales) and program specific grants to cover expenses. This is critical given the current
<br />external downward pressures on general revenue sources such as taxes and state aids.
<br />The significant difference in net change for general government compared to prior year was related to the
<br />costs within Tax Increment District 14, for The COR (Center of Ramsey) Development project as
<br />previously discussed. Interest and fiscal charges were also significantly higher in the prior year with
<br />refunding bond activity and related expenditures. Investment earnings were less than prior year as
<br />previously discussed primarily due to a negative market value adjustment on investments.
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