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Management’s Discussion and Analysis <br /> <br /> <br />The Pavement Management fund has a total fund balance of $972,648, all of which is <br />restricted or assigned to pavement preservation funding to improve the overall condition <br />rating of city streets. The fund balance during the current year increased by $474,243 <br />primarily due to the issuance of G.O. Street Reconstruction Bonds to fund the 2021 Street <br />Reconstruction Project. <br /> <br />The combined fund balance of other governmental funds increased by $806,602 during 2021. <br />Primary reasons for the increase include Water Tower #3 funds available at the end of the <br />project for debt service payments on the 2020A G.O. Utility Revenue Bonds and <br />development activities resulting in developer fee revenues (park dedication and surface water <br />management). <br /> <br />Proprietary funds. The City’s proprietary funds provide the same type of information <br />found in the government-wide financial statements, but in more detail. <br /> <br />The water fund has total net position at year-end of $31,458,223, of which $6,063,140 is <br />unrestricted. The increase in net position of $599,611 was primarily due to capital <br />contributions from private sources as a result of residential development. <br /> <br />The sewer fund has total net position at year-end of $28,533,395 of which $10,362,462 is <br />unrestricted. The decrease in net position of $28,334 was primarily due to a net operating <br />loss partially offset by capital contribution from private sources as a result of residential <br />development. <br /> <br />Budgetary Highlights <br /> <br />General Fund <br /> <br />There were amendments to the original budget in 2021. The revenue budget was increased by <br />$459,900 to total $11,957,468, and the expenditure budget was decreased by $72,627 to total <br />$10,520,660. Other financing uses were increased $25,000 to total $951,113. Net changes to <br />the budget resulted in a budgeted surplus of $485,695. <br /> <br />Revenues were $46,094 under budget for the year. General property taxes and investment <br />earnings were $101,853 under budget; however, this variance was partially offset by greater <br />than anticipated license and permit revenues, charges for services, and gas franchise fees. <br /> <br />Expenditures came in under budget by $180,427 primarily due to lower than expected <br />personal services costs mostly driven by vacant positions. <br /> <br /> <br /> <br /> <br /> <br /> <br />25