Agenda - Council - 06/09/2026 - Laserfiche WebLink

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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 Chargesfor Services 48.45% Investment Earnings 12.79% Capital grants and contributions (38.36%) and charges for services (48.45%) are the main sources ofrevenue for the business -type activities, which represent the utility funds. Investment earnings (12.79%) resulted from returns from stable interest rates. Capital Grants and Contri butions 38.36% FINANCIAL ANALYSIS OF THE CITY'S FUNDS Operating Grants and Contri butions 0.40% Governmental Funds — At the end of the fiscal year, the City's Governmental Funds reported combined ending fund balances of $57,685,204, a decrease of $1,857,629 in comparison with the prior year. The decrease is largely attributed to current year operating and capital spending of resources. The General Fund reported a fund balance increase of $1,138,376 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: Original and Over (Under) Percent Over Final Budget Actual Budget (Under) Budget Revenue $ 19,490,216 $ 20,688,086 $ 1,197,870 6.15% Expenditures 20,373,610 19,309,070 (1,064,540) -5.23% Excess (deficiency) ofrevenue over expenditures (883,394) 1,379,016 2,262,410 Other financing sources (uses) 883,394 (240,640) (1,124,034) Net change in fund balances $ 1,138,376 $ 1,138,376 Fund balances Beginning of year 13,324,373 End of year $ 14,462,749 33