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Business -Type Activities — The following graph illustrate the City's business -type activities: <br />Revenues By Source — Business -Type Activities <br />Operating grants <br />and contributions, <br />0.70% <br />Cha _es for <br />services, <br />57.21% <br />Capital grants and <br />contributions, <br />26.93% <br />Investment <br />earnings, 15.16% <br />The business -type activities, which represent the Utility Funds, all received revenues in excess of expenses. <br />Charges for services (57.21%) and Capital grants and contributions (26.93%) are the main sources of revenue <br />for all Utility Funds. <br />Governmental Funds — At the end of the fiscal year, the City's Governmental Funds reported combined ending <br />fund balances of $45,321,147, an increase of $1,734,551 in comparison with the prior year. The General Fund <br />reported a fund balance increase of $390,319 in the current year. The increase is attributed to the City's fund <br />balance policy which states that ending fund balance shall be equal to fifty percent (50%) of the next years <br />adopted operating budget, plus prior -year encumbrances (if any) plus compensated absences. <br />General Fund — The General Fund operating results can be summarized as follows: <br />Revenue <br />Expenditures <br />Excess (deficiency) of revenue <br />over expenditures <br />Other financing sources (uses) <br />Net change in fund balances <br />Fund balances <br />Beginning of year <br />Over (Under) % Over <br />Original Budget Final Budget Actual Final Budget (Under) Budget <br />$ 11,706,332 S 11,706,332 8 12,305,492 $ 599,160 5.12% <br />12,838,782 12,838,782 12,415,455 (423.327) -3.30% <br />(1,132,4501 (1,132,450) (109,963) 1,022.487 <br />1,132,450 1,132,450 500,282 (632,168) <br />$ — S — 390,319 $ 390.319 <br />8,490,127 <br />End of year $ 8,880,446 <br />33 <br />