Laserfiche WebLink
Business -Type Activities — Business -type activities increased the City's net position by $446,433 in the <br />current year, compared to a decrease of $338,274 reported last year. Key elements of this change included <br />the following: <br />• Utility rates were reviewed in conjunction with planning the 2023 fiscal year. Modest changes in <br />the utility rate structures were necessary to offset anticipated capital activity. Overall utility <br />revenues were modestly higher. <br />Revenues for business -type activities increased by $715,734 over the prior year. Improved <br />investment earnings, utility rate changes, and a new capital grant were key factors in this increase <br />over the prior year. <br />• Business -type activities expenses were also up, increasing by $40,387, or 1.1 percent, in the current <br />year. An increase in the water utility for contractual services was offset by a decrease in contractual <br />services in the sewer utility. <br />Expenses and Program Revenues — Business -Type Activities <br />$2,500,000 <br />$2,000,000 <br />$1,500,000 <br />$1,000,000 <br />$500,000 <br />$— <br />Water <br />Sewer <br />Storm Water <br />Street Light <br />■Expenses <br />$1,407,430 <br />$1,808,117 <br />$372,694 <br />$113,899 <br />■ Program Revenues <br />$1,459,121 <br />$2,092,110 <br />$437,558 <br />$107,351 <br />Revenues by Source — Business -Type Activities <br />Capital Grants and <br />Trivaafmanf Farnrnr.: <br />Ser0ces <br />91.3% <br />-11- <br />