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STATEMENT OF ACTIVITIES
<br />The Statement of Activities tracks the City's yearly revenues and expenses, as well as any other transactions
<br />that increase or reduce total net position. These amounts represent the full cost of providing services. The
<br />Statement of Activities provides a more comprehensive measure than just the amount of cash that changed
<br />hands, as reflected in the fund -based financial statements. This statement includes the cost of supplies used,
<br />depreciation of long-lived capital assets, and other accrual -based expenses.
<br />The following table presents the change in the net position of the City for the years ended December 31,
<br />2024, and 2023:
<br />Net (expense) revenue
<br />Governmental activities
<br />General government
<br />Public safety
<br />Highways and streets
<br />Culture and recreation
<br />Economic development
<br />Interest and fiscal charges
<br />Business -type activities
<br />Water utility
<br />Sewer utility
<br />Street light utility
<br />Recycling utility
<br />Storm water utility
<br />2024 2023
<br />Expenses
<br />$ 5,645,480
<br />8,894,134
<br />7,783,629
<br />2,430,888
<br />1,488,674
<br />1,317,942
<br />2,243,736
<br />2,41 1,209
<br />167,123
<br />549,993
<br />1,022,935
<br />Program
<br />Revenues
<br />$ 2,414,649
<br />2,438,948
<br />7,535,956
<br />1,649,680
<br />9,009,102
<br />3,322,222
<br />242,950
<br />539,404
<br />2,443,252
<br />Total net (expense) revenue $ 33,955,743 $ 29,596,163
<br />General revenues
<br />Property taxes
<br />General grants and contributions
<br />Investment earnings
<br />Gain on sale of capital assets
<br />Total general revenues
<br />Net Change
<br />$ (3,230,831)
<br />(6,455,186)
<br />(247,673)
<br />(781,208)
<br />(1,488,674)
<br />(1,317,942)
<br />6,765,366
<br />911,013
<br />75,827
<br />(10,589)
<br />1,420,317
<br />(4,359,580)
<br />23,041,341
<br />3,760
<br />4,470,909
<br />94,090
<br />Net Change
<br />$ (3,941,232)
<br />(5,667,857)
<br />(4,481,511)
<br />(1,270,976)
<br />(1,705,446)
<br />(1,258,959)
<br />3,443,166
<br />997,177
<br />60,683
<br />(10,367)
<br />1,234,337
<br />(12,600,985)
<br />20,126,982
<br />3,223
<br />5,709,967
<br />20,000
<br />27,610,100 25,860,172
<br />Change in net position $ 23,250,520 $ 13,259,187
<br />One of the goals of this statement is to provide a side -by -side comparison to illustrate the difference in the
<br />way the City's governmental and business -type operations are financed. The table clearly illustrates the
<br />dependence of the City's governmental operations on general revenues, such as taxes, unrestricted grants,
<br />and unrestricted investment earnings. In contrast, the City's business -type activities tend to rely more
<br />heavily on program revenues like charges for services (sales) and program -specific grants to cover
<br />expenses. This is critical given the current downward pressures on the general revenue sources.
<br />The change in net (expense) revenue presented in the table above, when compared to the prior year, is
<br />primarily due to the amount of developer contributions and capital grants recognized from year-to-year.
<br />These contributions fluctuate with the size and number of completed development projects.
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