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GOVERNMENT-WIDE FINANCIAL ANALYSIS (CONTINUED) <br /> Business-Type Activities—The following graph illustrate the City's business-type activities revenues: <br /> Revenues By Source—Business-Type Activities <br /> Operating grants <br /> and contributions, <br /> 0.71% <br /> FIA 'Capital grants and <br /> 1i I <br /> contributions, <br /> 36.36% <br /> Charges for Investment <br /> services, earnings(charges), <br /> 65.07% -2.14% <br /> Charges for services (65.07%) and Capital grants and contributions (36.36%) are the main sources of revenue <br /> for the business-type activities,which represent the Utility Funds. <br /> FINANCIAL ANALYSIS OF THE CITY'S FUNDS <br /> Governmental Funds—At the end of the fiscal year,the City's Governmental Funds reported combined ending <br /> fund balances of$46,751,006, a decrease of$11,070,361 in comparison with the prior year. The decrease is <br /> largely attributed to the construction of the new public works campus in 2021. The General Fund reported a <br /> fund balance increase of$359,436 in the current year. The increase is attributed to the City's fund balance policy <br /> which states that ending fund balance shall be equal to fifty percent(50%)of the next years adopted operating <br /> budget,plus prior-year encumbrances(if any)plus compensated absences. <br /> General Fund—The General Fund operating results can be summarized as follows: <br /> Over(Under) %Over <br /> Original Budget Final Budget Actual Final Budget (Under)Budget <br /> Revenue $ 12,961,148 $ 12,961,148 $ 13,613,351 $ 652,203 5.03% <br /> Expenditures 14,383,348 14,383,348 14,166,403 (216,945) -1.51% <br /> Excess(deficiency)of revenue <br /> over expenditures (1,422,200) (1,422,200) (553,052) 869,148 <br /> Other financing sources(uses) 1,422,200 1,422,200 912,488 (509,712) <br /> Net change in fund balances $ — $ — 359,436 $ 359,436 <br /> Fund balances <br /> Beginning of year 10,090,053 <br /> End of year $ 10,449,489 <br /> 33 <br />