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The following is a summary of the City's changes in net position:
<br />Changes in Net Position
<br />Governmental Business -Type
<br />Activities Activities
<br />Total
<br />2015 2014 2015 2014 2015 2014
<br />Revenues
<br />Program revenues
<br />Charges for services $ 2,640,202 $ 1,528,139 $ 4,706,138 $ 4,457,017 $ 7,346,340 $ 5,985,156
<br />Operating grants and contributions 9,999,527 385,574 39,423 65,817 10,038,950 451,391
<br />Capital grants and contributions 3,124,565 3,023,145 1,185,135 101,107 4,309,700 3,124,252
<br />General revenues
<br />Property taxes 10,064,621 9,423,457 - - 10,064,621 9,423,457
<br />General grants and contributions 4,204 3,198 - - 4,204 3,198
<br />Investment earnings 422,405 980,922 385,490 870,728 807,895 1,851,650
<br />Gain on sale of capital assets 8,914 - - - 8,914 -
<br />Total revenues 26,264,438 15,344,435 6,316,186 5,494,669 32,580,624 20,839,104
<br />Expenses
<br />General government 4,075,505 4,087,755 - - 4,075,505 4,087,755
<br />Public safety 4,349,763 4,079,362 - - 4,349,763 4,079,362
<br />Highways and streets 3,197,571 4,263,552 - - 3,197,571 4,263,552
<br />Culture and recreation 1,867,274 1,422,810 - - 1,867,274 1,422,810
<br />Interest and fiscal charges 983,379 1,168,513 - - 983,379 1,168,513
<br />Water utility - - 1,278,204 1,221,211 1,278,204 1,221,211
<br />Sewer utility - - 1,291,509 1,282,302 1,291,509 1,282,302
<br />Street light utility - - 178,666 161,733 178,666 161,733
<br />Recycling utility - - 320,901 321,321 320,901 321,321
<br />Storm water utility - - 557,267 509,709 557,267 509,709
<br />Total expenses 14,473,492 15,021,992 3,626,547 3,496,276 18,100,039 18,518,268
<br />Changes in net position before transfers 11,790,946 322,443 2,689,639 1,998,393 14,480,585 2,320,836
<br />Transfers 124,000 119,500 (124,000) (119,500) - -
<br />Changes in net position 11,914,946 441,943 2,565,639 1,878,893 14,480,585 2,320,836
<br />Net Position - Jan 1 as restated* 61,024,855 64,610,193 80,981,182 79,464,306 142,006,037 144,074,499
<br />Net Position - ending $ 72,939,801 $ 65,052,136 $ 83,546,821 $ 81,343,199 $ 156,486,622 $ 146,395,335
<br />*GASB Statement No. 68 was implemented for the year ended December 31, 2015 and required a restatement of beginning
<br />net position. Prior year amounts were not restated causing a variance in ending net position
<br />at December 31, 2014 and beginning net position on January 1, 2015.
<br />Governmental Activities - Governmental activities account for $11,914,946 of the increase in the City's net
<br />position. The highways and streets function experienced a $1,065,981 decrease or 25% due to a reduction in
<br />non -capitalized street project costs. Culture and recreation increased $444,464 due to park improvements related
<br />to the construction of the Mississippi River Trail (MRT).
<br />Investment earnings decreased $558,517. 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 continuation of low interest rates has resulted in the
<br />decrease in earnings. Operating grants and contributions saw a large increase of $9,613,953. The majority of
<br />these contributions were attributed to the Residence at the COR apartment building and contributions from the
<br />sale of land in the COR area. Charges for services increased by $1,112,063 resulting from increased building
<br />activity and the permit fees that it generated.
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