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GOVERNMENTAL FUND BALANCES
<br />The following table summarizes the changes in the fund balances of the City's governmental funds during
<br />the year ended December 31, 2022, presented both by fund balance classification and by major fund:
<br />Governmental Fund Changes in Fund Balance
<br />Fund Balance
<br />as of December 31,
<br />2022 2021
<br />Change
<br />Fund balances of governmental funds
<br />Total by classification
<br />Nonspendable $ 36,910 $ 36,247 $ 663
<br />Restricted 30,308,803 17,331,642 12,977,161
<br />Committed 1,682,136 1,611,150 70,986
<br />Assigned 18,344,251 17,358,673 985,578
<br />Unassigned 11,064,416 10,413,294 651,122
<br />Total governmental funds $ 61,436,516 $ 46,751,006 $ 14,685,510
<br />Total by fund
<br />Major funds
<br />General $ 11,095,052 $ 10,449,489 $ 645,563
<br />Special revenue funds
<br />Tax Increment 5,831,704 5,043,300 788,404
<br />COR Land 8,148,079 8,148,079
<br />Capital Project Funds
<br />State -Aid Construction 1,895,877 1,510,635 385,242
<br />Pavement Management Program 15,102,526 1,706,619 13,395,907
<br />Park Improvement 6,940,689 6,313,263 627,426
<br />Nonmajor funds 12,422,589 13,579,621 (1,157,032)
<br />Total governmental funds $ 61,436,516 $ 46,751,006 $ 14,685,510
<br />In total, the fund balances of the City's governmental funds increased by $14,685,510 during the year
<br />ended December 31, 2022.
<br />The largest changes were in restricted fund balances, primarily in the Capital Project Funds, as noted in
<br />the table above. The increase was mainly in the Pavement Management Program, which was due to the
<br />issuance of the 2022A General Obligation Street Reconstruction bonds which were issued on
<br />December 6, 2022.
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