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Other major governmental fund analysis is shown below: <br />Increase <br />2024 2023 (Decrease) <br />Infrastructure CIP 2,234,266$ 1,676,522$ 557,744$ <br />General Capital Improvements 2,650,075 2,883,337 (233,262) <br />Economic Development 226,455 826,376 (599,921) <br />Fire Equipment Replacement 1,503,146 2,142,978 (639,832) <br />The decrease in fund balance in the Fire Equipment Replacement fund is due to the second and final payment toward <br />the acquisition of the ladder truck. Total cost of the fire ladder truck $1,392,141. <br /> The decrease in fund balance in the Economic Development fud is due to property purchase at 2828 Condit Street for <br />future development opportunities, approximately $642,0000, and an increase in developer passthrough revenues from <br />the state. <br />Fund Balance December 31, <br />The increase in fund balance of the Infrastructure CIP fund is due to revenues exceeding capital outlay costs and <br />transfer outs in the current year. A couple significant items contributed to the increased revenues. Franchise fee <br />revenues were up by $136,297 due to an increase of 50% to electric franchise fees Developer contribution of $300,000 <br />from the RIDE apartments project for a future sidewalk project. <br />Major Funds <br />The decrease in fund balance of the General Capital Improvements fund is due to capital outlay costs exceeding <br />revenues. One of the larger projects completed related to the Pioneer Park project that started in 2023 and was <br />completed in 2024. This project was completed in two phases. Total project cost were over two million dollars. 2024 <br />expenditures were $535,816. <br />Proprietary Funds. The City’s proprietary funds provide the same type of information found in the government-wide <br />financial statements, but in more detail. Net position of the City’s proprietary funds increased or (decreased) as follows: <br />Ending Ending <br />Net Position Net Position Increase/ <br />2024 2023 (Decrease) <br />Water 4,797,985$ 4,783,720$ 14,265$ <br />The increase primarily is attributed to an increase in operating revenues and a decrease <br />in operating expenditures during the year. <br />Sewer 5,424,494 5,125,741 298,753 <br />The increase is primarily attributed to an increase in operating revenues and capital <br />contributions from other funds during the year. <br />Storm Water 306,787 - 306,787 <br />Increase is due to the implementation of the storm water fund in the current year. <br />37