Agenda - Council Work Session - 06/13/2017

Home

Business -Type Activities — The following graph illustrate the City's business -type activities: Charges for services, 69.31% Revenues By Source — Business -Type Activities Operating grants and contributions, 0.94% Investment earnings, 4.56% Capital grants and contributions, 25.19% 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 (69.31%) for all Utility Funds. Governmental Funds — At the end of the fiscal year, the City's Governmental Funds reported combined ending fund balances of $40,181,259, an increase of $1,443,884 in comparison with the prior year. The largest fund balance increase of $348,545 was in the Road Reconstruction/Overlay fund which is mostly attributed to revenues and other sources exceeding expenditures to be used towards future road reconstruction/overlay projects. 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 Over (Under) % Over Original Budget Final Budget Actual Final Budget (Under) Budget $ 10,032,871 $ 10,032,871 $ 10,110,798 $ 77,927 0.78% 10,925,127 10,925,127 10,446,084 (479,043) -4.38% (892,256) (892,256) (335,286) 556,970 892,256 892,256 579,634 (312,622) $ $ 244,348 $ 244,348 7,273,045 End of year $ 7,517,393 The fund balance of the General Fund increased $244,348. General Fund revenues came in $77,927 higher than budgeted or 0.78 percent, of budget. General Fund expenditures were $479,043 less than budgeted. The variance was mostly attributed to personnel expenditure savings from retirements and a mild winter resulting in greatly reduced costs in salt and plowing related costs such as gas and diesel. 33