Agenda - Council Work Session - 06/10/2025

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GOVERNMENT -WIDE FINANCIAL ANALYSIS (CONTINUED) Business -Type Activities — The following graph illustrate the City's business -type activities revenues: Revenues By Source — Business -Type Activities Operating grants and contributions, 0.50% Charges for services, 43.76% Investment earnings, 11.09% Capital grants and contributions, 44.65% Capital grants and contributions (44.65%) and Charges for services (43.76%) are the main sources of revenue for the business -type activities, which represent the Utility Funds. Investment earnings (11.09%) resulted from returns from stable interest rates. FINANCIAL ANALYSIS OF THE CITY'S FUNDS Governmental Funds — At the end of the fiscal year, the City's Governmental Funds reported combined ending fund balances of $59,542,833, a decrease of $5,162,039 in comparison with the prior year. The decrease is largely attributed to current year capital spending of resources provided by bonds issued in the prior year. The General Fund reported a fund balance increase of $1,058,458 in the current year. The increase is attributed to the City's fund balance policy which states that ending fund balance shall be equal to fifty percent (50%) of the next years adopted operating budget, plus prior -year encumbrances (if any). The favorable revenue variance helped the City to meet the fund balance policy goal. General Fund — The General Fund operating results can be summarized as follows: Revenue Expenditures Excess (deficiency) of revenue over expenditures Other financing sources (uses) Net change in fund balances Find balances Beginning of year Original and Over (Under) Final Budget Actual Final Budget $ 17,362,750 $ 18,919,100 $ 1,556,350 20,799,768 20,819.869 20,101 (3.437,018) (1,900,769) 1,536,249 3,437,018 2,959,227 (477,791) $ 1,058.458 $ 1,058,458 12,265,915 End of year $ 13,324,373 % Over (Under) Budget 8.96% 0.10% 33