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Business-Type Activities <br /> – Business-type activities, which are the City’s utility operations of water, sewer, <br />street light, recycling, and storm water, increased the City’s net position by $1,878,893. Key elements of this <br />increase are as follows. <br />Revenues exceeded expenses before transfers by $1,998,393, increasing $752,687 from the prior year. <br />Although current year expenses increased $35,789, the significant increase in revenue from investment <br />earnings resulted in a more positive change in net position before transfers. <br />Capital grants and contributions decreased $387,580 from the prior year. This is primarily due to a <br />reduction in capital contributions for street project water utilities. <br />Investment earnings increased $1,224,684. The city is required per the Governmental Accounting <br />st <br />Standards Board to reflect all investments at market value as of December 31 of the current year. The <br />city reflects any changes in market value against interest earnings. The investment market was more <br />favorable in 2014 resulting in a significant positive change in interest earnings. <br />Governmental Activities <br /> –The following graph illustrates the City’s governmental activities: <br />Expenses and Program Revenues – Governmental Activities <br />ЍͲЎЉЉͲЉЉЉ <br />ЍͲЉЉЉͲЉЉЉ <br />ЌͲЎЉЉͲЉЉЉ <br />ЌͲЉЉЉͲЉЉЉ <br />ЋͲЎЉЉͲЉЉЉ <br />ЋͲЉЉЉͲЉЉЉ <br />ЊͲЎЉЉͲЉЉЉ <br />ЊͲЉЉЉͲЉЉЉ <br />ЎЉЉͲЉЉЉ <br />DĻƓĻƩğƌtǒĬƌźĭ{ğŅĻƷǤIźŭŷǞğǤƭε/ǒƌƷǒƩĻεLƓƷĻƩĻƭƷεCźƭĭğƌ <br />DƚǝĻƩƓƒĻƓƷ{ƷƩĻĻƷƭwĻĭƩĻğƷźƚƓ/ŷğƩŭĻƭ <br />tƩƚŭƩğƒwĻǝĻƓǒĻƭ9ǣƦĻƓƭĻƭ <br />The graph clearly reflects the need for property taxes to supplement the governmental activities of the City. The <br />trend of property taxes shows an increasing reliance on this source of revenue. <br />Page 31 <br /> <br />