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Business -Type Activities — The following graph illustrate the City's business -type activities:
<br />Cha
<br />ges for
<br />services,
<br />57.21%
<br />Illli Immilmull
<br />111'II
<br />111111111
<br />Operating grants
<br />and contributions,
<br />0.70%
<br />Revenues By Source — Business -Type Activities
<br />IU,
<br />lo
<br />Capital grants and
<br />contributions,
<br />26.93%
<br />Investment
<br />earnings, 15.16%
<br />The business -type activities, which represent the Utility Funds, all received revenues in excess of expenses.
<br />Charges for services (57.21%) and Capital grants and contributions (26.93%) are the main sources of revenue
<br />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 $45,321,147, an increase of $1,734,551 in comparison with the prior year. The General Fund
<br />reported a fund balance increase of $390,319 in the current year. The increase is attributed to the City's fund
<br />balance policy which states that ending fund balance shall be equal to fifty percent (50%) of the next years
<br />adopted operating budget, plus prior -year encumbrances (if any) plus compensated absences.
<br />General Fund — The General Fund operating results can be summarized as follows:
<br />Revenue
<br />Expenditures
<br />Excess (deficiency) of revenue
<br />over expenditures
<br />Other financing sources (uses)
<br />Net change in fund balances
<br />Fund balances
<br />Beginning of year
<br />Over (TJnder) ° 0 Over
<br />Original Budget Final Budget Actual Final Budget (TJnder) Budget
<br />$ 11,706,332 $ 11,706,332 $ 12,305,492 $ 599,160 5.12°0
<br />12,838,782 12,838,782 12,415,455 (423,327)-3.30°o
<br />(1,132,450) (1,132,450) (109,963) 1,022,487
<br />1,132,450 1,132,450 500,282 (632,168)
<br />$ $ 390,319 $ 390,319
<br />8,490,127
<br />End of year $ 8,880,446
<br />33
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