2021 CAFR - Laserfiche WebLink

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GOVERNMENT -WIDE FINANCIAL ANALYSIS (CONTINUED) Business -Type Activities — The following graph illustrate the City's business -type activities revenues: Revenues By Source — Business -Type Activities Operating grants and contributions, 0.71% ..„,,,,,,.uuumuuuuuuuuuuuuuuuuuuuuu0000000uuuuuuuuuuuuuuuuuor ,,,,,,.....„111//////1 „ Capital grants and contributions, 36.36% Charges for OG��' %/ , Investment services, earnings (charges), 65.07% -2.14% Charges for services (65.07%) and Capital grants and contributions (36.36%) are the main sources of revenue for the business -type activities, which represent the Utility Funds. FINANCIAL ANALYSIS OF THE CITY'S FUNDS Governmental Funds —At the end of the fiscal year, the City's Governmental Funds reported combined ending fund balances of $46,751,006, a decrease of $11,070,361 in comparison with the prior year. The decrease is largely attributed to the construction of the new public works campus in 2021. The General Fund reported a fund balance increase of $359,436 in the current year. The increase is attributed to the City's fund balance policy which states that ending fund balance shall be equal to fifty percent (50%) of the next years adopted operating budget, plus prior -year encumbrances (if any) plus compensated absences. 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 $ 12.961.148 $ 12.961.148 $ 13.613.351 $ 652.203 5.03°° 14.383.348 14.383.348 14.166.403 (216.945)-1.51°° (1.422.200) (1.422.200) (553.052) 869.148 1.422.200 1.422.200 912.488 (509.712) $ $ 359.436 $ 359.436 10.090.053 End of year $ 10.449.489 33