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STATEMENT OF ACTIVITIES
<br />The Statement of Activities tracks the City's yearly revenues and expenses, as well as any other
<br />transactions that increase or reduce total net position. These amounts represent the full cost of providing
<br />services. The Statement of Activities provides a more comprehensive measure than just the amount of
<br />cash that changed hands, as reflected in the fund -based financial statements. This statement includes the
<br />cost of supplies used, depreciation of long-lived capital assets, and other accrual -based expenses.
<br />The following table presents the change in the net position of the City for the years ended December 31,
<br />2022 and 2021:
<br />Net (expense) revenue
<br />Governmental activities
<br />General government
<br />Public safety
<br />Highways and streets
<br />Culture and recreation
<br />Economic development
<br />Interest and fiscal charges
<br />Business -type activities
<br />Water utility
<br />Sewer utility
<br />Street light utility
<br />Recycling utility
<br />Storm water utility
<br />Total net (expense) revenue
<br />General revenues
<br />Property taxes
<br />Franchise fees
<br />General grants and contributions
<br />Investment earnings (charges)
<br />Gain on sale of capital assets
<br />Total general revenues
<br />2022 2021
<br />Expenses
<br />$ 4,967,112
<br />7,989,480
<br />5,308,212
<br />1,997,522
<br />1,096,422
<br />564,462
<br />1,895,776
<br />1,947,356
<br />172,765
<br />514,231
<br />791,605
<br />Program
<br />Revenues
<br />$ 2,016,068
<br />1,641,877
<br />7,715,229
<br />950,217
<br />5,022,607
<br />3,405,915
<br />230,392
<br />506,668
<br />2,484,412
<br />$ 27,244,943 $ 23,973,385
<br />Net Change
<br />$ (2,951,044)
<br />(6,347,603)
<br />2,407,017
<br />(1,047,305)
<br />(1,096,422)
<br />(564,462)
<br />3,126,831
<br />1,458,559
<br />57,627
<br />(7,563)
<br />1,692,807
<br />Net Change
<br />$ (2,837,175)
<br />(4,640,295)
<br />(92,682)
<br />(447,714)
<br />(2,140,267)
<br />(883,504)
<br />3,100,763
<br />1,357,364
<br />43,788
<br />(4,020)
<br />1,139,379
<br />(3,271,558) (5,404,363)
<br />17,637,477 14,761,012
<br />4,859 2,071,476
<br />3,644 2,963
<br />(5,221,440) (385,036)
<br />22,500 22,325
<br />12,447,040 16,472,740
<br />Change in net position $ 9,175,482 $ 11,068,377
<br />One of the goals of this statement is to provide a side -by -side comparison to illustrate the difference in the
<br />way the City's governmental and business -type operations are financed. The table clearly illustrates the
<br />dependence of the City's governmental operations on general revenues, such as taxes, unrestricted grants,
<br />and unrestricted investment earnings. In contrast, the City's business -type activities tend to rely more
<br />heavily on program revenues like charges for services (sales) and program -specific grants to cover
<br />expenses. This is critical given the current downward pressures on the general revenue sources.
<br />The change in net (expense) revenue presented in the table above, when compared to the prior year, is
<br />primarily due to the amount of developer contributions and capital grants recognized from year-to-year.
<br />These contributions fluctuate with the size and number of completed development projects. Negative
<br />adjustments on investments in the current year reduced investment earnings compared to prior year, as
<br />seen in the above table. Changes in state-wide pension plans impacted functional expenses above,
<br />specifically impacting the public safety function with an increase in the current year.
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