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Other major governmental fund analysis is shown below:
<br />Increase
<br />2023 2022 (Decrease)
<br />General 4,629,504$ 3,614,509$ 1,014,995$
<br />Infrastructure CIP 1,676,522$ 2,447,079$ (770,557)$
<br />General Capital Improvements 2,883,337$ 3,609,569$ (726,232)$
<br />Fund Balance December 31,
<br />The General Fund fund balance increased due to positive budget variances in both revenues and expenditures. The
<br />positive revenue variances were mostly due to the receipt of one time public safety aid and building permit revenues.
<br />The decrease in fund balance of the Infrastructure CIP fund is due to capital outlay costs exceeding revenues. The
<br />2023 projects inclued 2023 street improvements (Sunset Court, Sunset Drive, Twin Lake Boulevard, and Spruce Street).
<br />The budget for these projects was $3,501,430.
<br />Major Funds
<br />The decrease in fund balance of the General Capital Improvements fund is due to capital outlay costs exceeding
<br />revenues. A few of the large projects completed were the City Hall Remodel, Pioneer Park and Spooner Park Electrical.
<br />Proprietary Funds. The City’s proprietary funds provide the same type of information found in the government -wide
<br />financial statements, but in more detail. Net position of the City’s proprietary funds increased or (decreased) as follows:
<br />Ending Ending
<br />Net Position Net Position Increase/
<br />2023 2022 (Decrease)
<br />Water 4,783,720$ 4,947,311$ (163,591)$
<br />The decrease primarily is attributed to transfers out for capital improvements.
<br />Sewer 5,125,741 5,244,586 (118,845)
<br />The decrease primarily is attributed to transfers out for capital improvements.
<br />General Fund Budgetary Highlights
<br />Final
<br />Budgeted Actual Variance with
<br />Amounts Amounts Final Budget
<br />Revenues 4,746,020$ 5,682,830$ 936,810$
<br />Expenditures 4,855,154 4,769,044 86,110
<br />Excess of Revenues
<br />Over Expenditures (109,134) 913,786 1,022,920
<br />Other Financing Sources
<br />Transfers in 109,134 101,209 (7,925)
<br />Net Change in Fund Balances - 1,014,995 1,014,995
<br />Fund Balances, January 1 3,614,509 3,614,509
<br />Fund Balances, December 31 3,614,509$ 4,629,504$ 1,014,995$
<br />The City’s General fund budget was not amended during the year as shown above. Actual revenues were over the final
<br />budget and expenditures were under the final budget amounts as shown above.
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