Laserfiche WebLink
CITY OF LAKE ELMO, MINNESOTA <br />MANAGEMENT’S DISCUSSION AND ANALYSIS <br />DECEMBER 31, 2023 <br /> <br /> <br />20 <br />THE CITY’S FUNDS (Continued) <br /> <br /> <br />The fund balance of the General Fund increased by $1,380,341 compared to 2022. Details of the General Fund’s revenues and <br />expenditures are displayed below: <br /> <br />General Fund Revenues <br /> <br /> <br />The City received the majority of its funding in the General Fund in the form of grants and funding received from property <br />taxes (63.90 percent), licenses, permits, and fees (14.27 percent), charges for services (9.93 percent), and other governmental <br />agencies (4.80 percent). Overall, the City’s General Fund revenues were comparable to the prior year, with the exception of <br />property taxes that increased as planned with the 2023 levy. <br /> <br />Increase <br />2023 2022 (Decrease) <br />General 8,920,580$ 7,540,239$ 1,380,341$ <br />Fund Balance December 31, <br />Major Funds