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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 />0.64%
<br />Capital grants and
<br />contributions,
<br />18.52%
<br />Investment
<br />earnings, 15.31%
<br />Charges for
<br />services,
<br />65.53%
<br />Charges for services (65.53%) and Capital grants and contributions (18.52%) 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 $57,821,367, an increase of $12,500,220 in comparison with the prior year. The General Fund
<br />reported a fund balance increase of $1,209,607 in the current year. The increase is attributed to the City's fund
<br />balance policy which states that ending fund balance shall be equal to fifty percent (50%) of the next years
<br />adopted operating budget, plus prior -year encumbrances (if any) plus compensated absences.
<br />General Fund — The General Fund operating results can be summarized as follows:
<br />Revenue
<br />Expenditures
<br />Excess (deficiency) of revenue
<br />over expenditures
<br />Other financing sources (uses)
<br />Over (Under) ° ° Over
<br />Original Budget Final Budget Actual Final Budget (Under) Budget
<br />$ 12,507,589 $ 12,507,589 $ 15,101,548 $ 2,593,959 20 74°0
<br />13,303,589 13,303,589 13,572,786 269,197 2 0200
<br />(796,000) (796,000) 1,528,762 2,324,762
<br />796,000 796,000 (319,155) (1,115,155)
<br />Net change m fund balances $ $ 1,209,607 $ 1,209,607
<br />Fund balances
<br />Beginning of year
<br />8,880,446
<br />End of year $ 10,090,053
<br />33
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