Agenda - Council - 06/09/2015 - Laserfiche WebLink

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Business -Type Activities — The following graph illustrate the City's business -type activities: Revenues By Source — Business -Type Activities Charges for services, 81.11% Operating grants and contributions, 1.20% Capital grants and contributions, 1.84% Investment Earnings, 15.85% The business -type activities, which represent the Utility Funds, all received revenues in excess of expenses. Charges for services are the main source of revenue (81.11%) for all Utility Funds. Governmental Funds — At the end of the fiscal year, the City's Governmental Funds reported combined ending fund balances of $33,562,488, a decrease of $3,722,997 in comparison with the prior year. The decrease was mostly attributable to payment on refunded debt in the 200513/2011 Refund G.O. Improvements Bonds, Debt Service Fund. General Fund — The General Fund operating results can be summarized as follows: Revenue Expenditures Excess (deficiency) of revenue over expenditures Other financing sources (uses) Net change in fund balances Fund balances Beginning of year End of year Over (Under) % Over Original Budget Final Budget Actual Final Budget (Under) Budget $ 8,788,649 $ 9,151,809 $ 9,154,981 $ 3,172 0.03% 9,750,135 9,323,517 9,257,530 (65,987) -0.71% (961,486) (171,708) (102,549) 69,159 961,486 245,034 313,724 68,690 $ — $ 73,326 211,175 $ 137,849 6,771,394 $ 6,982,569 The actual operating results ended close to the amount projected in the final budget. The change in budget from the original to the final can be attributed to decisions made by city council throughout the year. Final budgeted expenditures were amended to be $426,618 less than what was originally budgeted. The decrease was mostly attributed to personnel expenditure savings from retirements and positions not yet refilled during the year and several budgeted expenditures coming in lower than requested. Actual revenue was higher than final budget due to unanticipated accounting reallocations. Page 33