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GOVERNMENT -WIDE FINANCIAL ANALYSIS (CONTINUED)
<br />The City has taken a conservative financial approach, carefully analyzing revenues and expenditures/expenses
<br />to assure operation of a balanced budget. The ongoing management of revenue and expenditures/expenses has
<br />resulted in a high -quality bond rating. The City's AA+ bond rating was last reaffirmed by Standard and Poor's
<br />(S&P) in October 2023. This has also allowed the City to continue to provide quality public services at a tax
<br />rate that is affordable.
<br />At the end of the current fiscal year, the City reported positive balances in all three categories of net position,
<br />both for the government as a whole, as well as for its separate governmental and business -type activities.
<br />Changes in the City's proportionate share of state-wide pension obligations contributed to the differences in
<br />amounts presented as deferred outflows, noncurrent liabilities, and deferred inflows in the previous table.
<br />Ongoing construction and reconstruction of City streets, spending for a new water treatment plant, and its
<br />respective trunk watermain improvements increased capital assets and the net investment in capital assets portion
<br />of net position, while reducing current and other assets.
<br />The following is a summary of the City's changes in net position:
<br />Revenues
<br />Program revenues
<br />Charges for services
<br />Operating grants and
<br />contributions
<br />Capital grants and
<br />contributions
<br />General revenues
<br />Property taxes
<br />General grants and contributions
<br />Investment eamings
<br />Gain on sale of capital asscts
<br />Total revenues
<br />Expenses
<br />General government
<br />Public safety
<br />Highways and streets
<br />Culture and recreation
<br />Economic development
<br />Interest
<br />Water utility
<br />Sewer utility
<br />Street light utility
<br />Recycling utility
<br />Storm water utility
<br />Total expenses
<br />Change in net position
<br />before transfers
<br />Transfers
<br />Change in net position
<br />Nct position
<br />Beginning
<br />Ending
<br />Governmental Activities Business -Type Activities Total
<br />2025 2024
<br />2025 2024
<br />$ 2,995,895 $ 3,155,387 $ 8,502,169 $ 7,656,188
<br />1,344,633 996,098
<br />9,265,973 9,887,748
<br />23,699,395 23,041,341
<br />135,308 3,760
<br />2,084,759 2,530,184
<br />59,675 94,090
<br />39,585,638 39,708,608
<br />6,126,045 5,645,480
<br />9,597,991 8,894,134
<br />9,194,282 7,783,629
<br />2,682,150 2,430,888
<br />1,342,690 1,488,674
<br />1,134,749 1.317,942
<br />2025 2024
<br />$ 11,498,064 $ 10,811,575
<br />70,390 88,200 1,415,023 1,084,298
<br />6,732,029 7,812,542 15,998,002 17,700,290
<br />23,699,395
<br />135,308
<br />2,243,120 1,940,725 4,327,879
<br />59,675
<br />17,547,708 17,497,655 57,133,346
<br />2,360,896 2,243,736
<br />2,539,590 2,411,209
<br />216,126 167,123
<br />580,435 549,993
<br />1,198,990 1,022,935
<br />30,077,907 27,560,747 6,896,037 6,394,996
<br />9,507,731 12,147,861 10,651,671 11,102,659
<br />35,012 (694,468) (35,012) 694,468
<br />9,542,743 11,453,393 10,616,659 11,797,127 20,159,402 23,250,520
<br />6,126,045
<br />9,597,991
<br />9,194,282
<br />2,682,150
<br />1,342,690
<br />1,134,749
<br />2,360,896
<br />2,539,590
<br />216,126
<br />580,435
<br />1,198,990
<br />36,973,944
<br />23,041,341
<br />3,760
<br />4,470,909
<br />94,090
<br />57,206,263
<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 />2,411,209
<br />167,123
<br />549,993
<br />1,022,935
<br />33,955,743
<br />20,159,402 23,250,520
<br />123,740,590 112,287,197 127,961,845 116,164,718 251,702,435 228,451,915
<br />$133,283,333 $123,740,590 8138,578,504 $127,961,845 $271,861,837 $251,702,435
<br />30
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