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The following is a summary of the City’s changes in net position:
<br />Changes in Net Position
<br />GovernmentalBusiness-Type
<br />ActivitiesActivitiesTotal
<br />201420132014201320142013
<br />Revenues
<br />Program revenues
<br />Charges for services$ 1,528,139$ 1,779,150$ 4,457,017$ 4,492,104$ 5,985,156$ 6,271,254
<br />Operating grants and contributions 385,574 1,180,725 65,817 79,358 451,391 1,260,083
<br />Capital grants and contributions 3,023,145 3,208,950 101,107 488,687 3,124,252 3,697,637
<br />General revenues
<br />Property taxes 9,423,457 10,421,456 - - 9,423,457 10,421,456
<br />General grants and contributions 3,198 38,577 - - 3,198 38,577
<br />
<br />Sale of capital assets - 12,940 - - - 12,940
<br />
<br />Investment earnings (charges) 980,922 (411,446) 870,728 (353,956) 1,851,650 (765,402)
<br />Total revenues 15,344,435 16,230,352 5,494,669 4,706,193 20,839,104 20,936,545
<br />Expenses
<br />General government 4,087,755 3,735,657 - - 4,087,755 3,735,657
<br />Public safety 4,079,362 4,074,688 - - 4,079,362 4,074,688
<br />Highways and streets 4,263,552 5,215,260 - - 4,263,552 5,215,260
<br />Culture and recreation 1,422,810 1,415,736 - - 1,422,810 1,415,736
<br />Water utility - - 1,221,211 1,293,201 1,221,211 1,293,201
<br />Sewer utility - - 1,282,302 1,190,551 1,282,302 1,190,551
<br />Street Light utility - - 161,733 176,736 161,733 176,736
<br />Recycling utility - - 321,321 308,629 321,321 308,629
<br />Storm Water utility - - 509,709 491,370 509,709 491,370
<br />Interest and fiscal charges 1,168,513 1,220,471 - - 1,168,513 1,220,471
<br />Total expenses 15,021,992 15,661,812 3,496,276 3,460,487 18,518,268 19,122,299
<br />Changes in net position before transfers 322,443 568,540 1,998,393 1,245,706 2,320,836 1,814,246
<br />Transfers 119,500 112,000 (119,500) (112,000) - -
<br />Changes in net position 441,943 680,540 1,878,893 1,133,706 2,320,836 1,814,246
<br />Net Position - beginning 64,610,193 63,929,653 79,464,306 78,330,600 144,074,499 142,260,253
<br />Net Position - ending$ 65,052,136$ 64,610,193$ 81,343,199$ 79,464,306$ 146,395,335$ 144,074,499
<br />Governmental Activities
<br /> – Governmental activities account for $441,943 of the increase in the City’s net
<br />position. The general government function experienced a $352,098 increase (approx. 9 percent) in expenses.
<br />The increase in general governmental expenses was due to additional costs related to personnel services.
<br />Highway and Street expenses decreased $951,708 or 18% as a result of a reduction in non-capitalized street
<br />project costs.
<br />Investment earnings increased $1,392,368. The city is required per the Governmental Accounting Standards
<br />st
<br />Board to reflect all investments at market value as of December 31 of the current year. The city reflects any
<br />changes in market value against interest earnings. The investment market was more favorable in 2014 resulting
<br />in a significant positive change in interest earnings. Operating grants and contributions decreased $795,151 or
<br />67% due to a reduction in relevant projects and their respective grant funding.
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