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GOVERNMENTAL FUND BALANCES
<br />The following table summarizes the changes in the fund balances of the City's governmental funds during
<br />the year ended December 31, 2023, presented both by fund balance classification and by major fund:
<br />Governmental Fund Changes in Fund Balance
<br />Fund balances of govemmental funds
<br />Total by classification
<br />Nonspendable
<br />Restricted
<br />Committed
<br />Assigned
<br />Unassigned
<br />Total govemmental funds
<br />Total by fund
<br />Major funds
<br />General
<br />Special revenue funds
<br />Tax Increment
<br />COR Land
<br />Capital project funds
<br />RALF Funded Projects
<br />State -Aid Construction
<br />Pavement Management Program
<br />Park Improvement
<br />Nonmajor funds
<br />Fund Balance
<br />as of December 31,
<br />2023 2022
<br />$ 33,371
<br />29,623,622
<br />1,932,107
<br />20,878,473
<br />12,237,299
<br />$ 36,910
<br />30,308,803
<br />1,682,136
<br />18,344,251
<br />11,064,416
<br />$ 64,704,872 $ 61,436,516
<br />$ 12,265,915
<br />6,730,012
<br />8,343,303
<br />210,223
<br />430,589
<br />15,004,728
<br />7,683,511
<br />14,036,591
<br />Total governmental funds $ 64,704,872
<br />Change
<br />$ (3,539)
<br />(685,181)
<br />249,971
<br />2,534,222
<br />1,172,883
<br />$ 3,268,356
<br />$ 11,095,052 $ 1,170,863
<br />5,831,704 898,308
<br />8,148,079 195,224
<br />505,220 (294,997)
<br />1,895,877 (1,465,288)
<br />15,102,526 (97,798)
<br />6,940,689 742,822
<br />11,917,369 2,119,222
<br />$ 61,436,516 $ 3,268,356
<br />In total, the fund balances of the City's governmental funds increased by $3,268,356 during the year
<br />ended December 31, 2023.
<br />The largest changes were in assigned fund balances, primarily in the nonmajor funds, as noted in the table
<br />above. The increase was largely due to the increase in interest earnings, due to a higher rate of return.
<br />Unassigned was also up with the change in the General Fund. General Fund activity is discussed in more
<br />detail later in this report.
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