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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 />Expenses
<br />Net (expense) revenue
<br />Governmental activities
<br />General government $ 3,735,657 $ 2,964,184 $ (771,473) $ (14,983,442)
<br />Public safety 4,074,688 1,133,158 (2,941,530) (2,795,303)
<br />Highways and streets 5,215,260 1,868,477 (3,346,783) (3,564,026)
<br />Culture and recreation 1,415,736 203,006 (1,212,730) (549,386)
<br />Interest and fiscal charges 1,220,471 — (1,220,471) (2,555,567)
<br />Business -type activities
<br />Water utility 1,293,201 2,379,241 1,086,040 1,924,881
<br />Sewer utility 1,190,551 1,425,022 234,471 472,253
<br />Street light utility 176,736 200,558 23,822 13,473
<br />Recycling utility 308,629 377,392 68,763 43,587
<br />Storm water utility 491,370 677,936 186,566 150,860
<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 />$ 19,122,299 $ 11,228,974
<br />2013 2012
<br />Program
<br />Revenues Net Change Net Change
<br />(7,893,325) (21,842,670)
<br />10,421,456 11,454,519
<br />38,577 9,175
<br />(765,402) 794,970
<br />12,940 —
<br />9,707,571 12,258,664
<br />Change in net position $ 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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