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The following is a summary of the City's changes in net position:
<br />Governmental Activities - 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 />Board to reflect all investments at market value as of December 31St 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 $795,151 or
<br />67% due to a reduction in relevant projects and their respective grant funding.
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<br />Changes in Net Position
<br />Governmental
<br />Business -Type
<br />Activities
<br />Activities
<br />Total
<br />2014
<br />2013
<br />2014
<br />2013
<br />2014
<br />2013
<br />Revenues
<br />Program revenues
<br />Charges for services
<br />$ 1,528,139 $
<br />1,779,150
<br />$ 4,457,017 $
<br />4,492,104
<br />$ 5,985,156 $
<br />6,271,254
<br />Operating grants and contributions
<br />385,574
<br />1,180,725
<br />65,817
<br />79,358
<br />451,391
<br />1,260,083
<br />Capital grants and contributions
<br />3,023,145
<br />3,208,950
<br />101,107
<br />488,687
<br />3,124,252
<br />3,697,637
<br />General revenues
<br />Property taxes
<br />9,423,457
<br />10,421,456
<br />-
<br />-
<br />9,423,457
<br />10,421,456
<br />General grants and contributions
<br />3,198
<br />38,577
<br />-
<br />-
<br />3,198
<br />38,577
<br />Sale of capital assets
<br />-
<br />12,940
<br />-
<br />-
<br />-
<br />12,940
<br />Investment earnings (charges)
<br />980,922
<br />(411,446)
<br />870,728
<br />(353,956)
<br />1,851,650
<br />(765,402)
<br />Total revenues
<br />15,344,435
<br />16,230,352
<br />5,494,669
<br />4,706,193
<br />20,839,104
<br />20,936,545
<br />Expenses
<br />General government
<br />4,087,755
<br />3,735,657
<br />-
<br />-
<br />4,087,755
<br />3,735,657
<br />Public safety
<br />4,079,362
<br />4,074,688
<br />-
<br />-
<br />4,079,362
<br />4,074,688
<br />Highways and streets
<br />4,263,552
<br />5,215,260
<br />-
<br />-
<br />4,263,552
<br />5,215,260
<br />Culture and recreation
<br />1,422,810
<br />1,415,736
<br />-
<br />-
<br />1,422,810
<br />1,415,736
<br />Water utility
<br />-
<br />-
<br />1,221,211
<br />1,293,201
<br />1,221,211
<br />1,293,201
<br />Sewer utility
<br />-
<br />-
<br />1,282,302
<br />1,190,551
<br />1,282,302
<br />1,190,551
<br />Street Light utility
<br />-
<br />-
<br />161,733
<br />176,736
<br />161,733
<br />176,736
<br />Recycling utility
<br />-
<br />-
<br />321,321
<br />308,629
<br />321,321
<br />308,629
<br />Storm Water utility
<br />-
<br />-
<br />509,709
<br />491,370
<br />509,709
<br />491,370
<br />Interest and fiscal charges
<br />1,168,513
<br />1,220,471
<br />-
<br />-
<br />1,168,513
<br />1,220,471
<br />Total expenses
<br />15,021,992
<br />15,661,812
<br />3,496,276
<br />3,460,487
<br />18,518,268
<br />19,122,299
<br />Changes in net position before transfers
<br />322,443
<br />568,540
<br />1,998,393
<br />1,245,706
<br />2,320,836
<br />1,814,246
<br />Transfers
<br />119,500
<br />112,000
<br />(119,500)
<br />(112,000)
<br />-
<br />-
<br />Changes in net position
<br />441,943
<br />680,540
<br />1,878,893
<br />1,133,706
<br />2,320,836
<br />1,814,246
<br />Net Position - beginning
<br />64,610,193
<br />63,929,653
<br />79,464,306
<br />78,330,600
<br />144,074,499
<br />142,260,253
<br />NetPosition- ending
<br />$ 65,052,136 $
<br />64,610,193
<br />$ 81,343,199 $
<br />79,464,306
<br />$ 146,395,335 $
<br />144,074,499
<br />Governmental Activities - 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 />Board to reflect all investments at market value as of December 31St 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.
<br />Page 30
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