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Business -Type Activities — The following graph illustrate the City's business -type activities: <br />Charges for <br />services, 71.12% <br />Revenues By Source — Business -Type Activities <br />1111111111111111111111111111 <br />""""IIIIIIIIIIIIIIIIIIII Illllllllllllllllllllllllllllllllllll��p�i�„ <br />VIIIu <br />Operating grants <br />and contributions, <br />1.09% <br />Capital grants and <br />contributions, <br />21.98% <br />Investment <br />earnings, 5.81% <br />The business -type activities, which represent the Utility Funds, all received revenues in excess of expenses. <br />Charges for services are the main source of revenue (71.12%) for all Utility Funds. <br />Governmental Funds — At the end of the fiscal year, the City's Governmental Funds reported combined ending <br />fund balances of $40,721,908, an increase of $540,649 in comparison with the prior year. The General Fund <br />reported a fund balance increase of $395,225 in the current year. The increase is attributed to the City's fund <br />balance policy which states that ending fund balance shall be equal to fifty percent (50%) of the next years <br />adopted operating budget, plus prior -year encumbrances (if any) plus compensated absences. <br />General Fund — The General Fund operating results can be summarized as follows: <br />Revenue <br />Over (Under) °° Over <br />Original Budget Final Budget Actual Final Budget (Under) Budget <br />$ 10,365,947 $ 10,365,947 $ 10,583,302 $ 217,355 2.10°0 <br />Expenditures 11,128,759 11,128,759 10,493,772 (634,987)-5.71°0 <br />Excess (deficiency) of revenue <br />over expenditures <br />Other financing sources (uses) <br />Net change in fund balances <br />Fund balances <br />Beginning of year <br />(762,812) <br />762,812 <br />$ $ <br />(762,812) <br />762,812 <br />89,530 852,342 <br />305,695 (457,117) <br />395,225 $ 395,225 <br />7,517,393 <br />End of year $ 7,912,618 <br />33 <br />