Laserfiche WebLink
The following is a summary of the City's changes in net position: <br />Changes in Net Position <br />Governmental <br />Activities <br />Business -Type <br />Activities <br />Total <br />2012 2011 2012 2011 2012 2011 <br />Revenues <br />Program revenues <br />Charges for services $ 2.303.722 $ 1.979.537 $ 4.578.453 $ 4.151.812 $ 6.882.175 $ 6.131.349 <br />Operatmg grants and contributions 2.008.709 298.077 57.239 50.279 2.065.948 348.356 <br />Capital grants and contributions 3.866.331 4.187.265 1.315.030 88.349 5.181.361 4.275.614 <br />General revenues <br />Property taxes 11.454.519 11.671.760 - - 11.454.519 11.671.760 <br />General giants and contributions 9.175 120.932 - - 9.175 120.932 <br />Sale of capital assets - 14.716 - - - 14.716 <br />Investment earnings 474.076 903.786 320.894 460.228 794.970 1.364.014 <br />Total revenues 20.116.53' 19.176.073 6.271.616 4.750.668 26.388.148 23.926.741 <br />Expenses <br />General govenunent 18.976.842 5.559.732 - - 18.976.842 5.559.732 <br />Public safety 4.218.066 4.307.045 - - 4.218.066 4.307.045 <br />Highways and streets 5.659.428 6.129'72 - - 5.659.428 6.129'72 <br />Culture and recreation 1.216.583 1.267.292 - - 1.216.583 1.267.292 <br />Water utility - - 1.223.012 1.353.050 1.228.012 1.353.050 <br />Sewer utility - - 1.152.760 1.149.318 1.152.760 1.149.318 <br />Street Light utility - - 165.651 163.758 165.651 163.758 <br />Recycling utility - - 302.936 302.947 302.936 302.947 <br />Stouu Water utility - - 496.309 410.666 496.309 410.666 <br />Interest and fiscal charges 2.555.567 1302.223 - - 2.555.567 1302.223 <br />Total expenses 32.626.486 18.565.569 3.345.668 3.384.739 35.972.154 21.950.308 <br />Changes m net position before transfers <br />Transfers <br />(12.509.954) 610.504 <br />107.500 1.199.585 <br />2.925.948 1.365.929 <br />(107.500) (1.199.585) <br />(9.584.006) 1.976.433 <br />Changes un net position (12.402.454) 1.810.089 2.818.448 166.344 (9.584.006) 1.976.433 <br />Net Position - beginning 76.332.107 74.>22.018 75.512.152 75.345.808 151.844.259 149.867.826 <br />Net Position - endmg $ 63.929.653 $ 76.332.107 $ 78.330.600 $ 75.512.152 $ 142.260.253 $ 151.844.259 <br />Governmental Activities - Governmental activities account for the $12,402,454 million decrease in the City's <br />net position. The general government function experienced a $13,417,110 increase (approx. 241 percent) in <br />expenses. The increase in governmental expenditures was primarily due to non -capital administrative <br />expenditures (legal, development and financial) in relationship to the development of The COR. Projects <br />within The COR associated with these expenditures include the Northstar Commuter Rail Station and <br />contributions appropriated to The Residence at the COR apartment building. Property taxes decreased <br />$217,241 (approximately 2%) during the year. This percentage change reflects the current economy that stills <br />sees a large number of foreclosures and job loss. Investment earnings also decreased $429,700 or 48% as a <br />result of a less favorable investment environment due to financial markets. Charges for services increased by <br />16%, or $324,185. Operating grants and contributions increased approximately $1,700,000 due to county <br />funding received for non -capital public improvements. Capital grants and contributions decreased 8% or <br />$320,934 due to a reduction in public improvement activity. The highways and streets function experienced <br />nearly a $470,000 decrease (8%) in expenses. This decrease is due to a reduction in public improvement <br />projects from the prior year. <br />30 <br />