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<br />GOVERNMENTAL FUND BALANCES
<br />
<br />The following table summarizes the changes in the fund balances of the City’s governmental funds during
<br />the year ended December 31, 2024, presented both by fund balance classification and by fund:
<br />
<br />2024 2023 Change
<br />Fund balances of governmental funds
<br />Total by classification
<br />Nonspendable 56,081$ –$ 56,081$
<br />Restricted 2,637,373 2,254,010 383,363
<br />Assigned 12,427,329 9,876,213 2,551,116
<br />Unassigned 4,309,823 5,528,190 (1,218,367)
<br />Total governmental funds 19,430,606$ 17,658,413$ 1,772,193$
<br />Total by fund
<br />General 8,076,660$ 8,551,350$ (474,690)$
<br />Economic Development Authority
<br /> Special Revenue 1,439,985 1,429,697 10,288
<br />Community Center Special Revenue 252,932 318,133 (65,201)
<br />TIF District No. 5 Special Revenue 55,397 45,226 10,171
<br />Vehicle and Equipment Capital Projects 2,867,094 2,557,036 310,058
<br />Special Projects Capital Projects 3,632,306 2,691,259 941,047
<br />Street Improvement Capital Projects 2,216,511 1,286,625 929,886
<br />Nonmajor 889,721 779,087 110,634
<br />Total governmental funds 19,430,606$ 17,658,413$ 1,772,193$
<br />
<br />as of December 31,
<br />Governmental Funds Change in Fund Balance
<br />Fund Balance
<br />
<br />
<br />In total, the fund balances of the City’s governmental funds increased by $1,772,193. This increase in
<br />fund balances was largely assigned by year-end for future spending as identified by management and the
<br />City Council. Furthermore, unassigned fund balance in the General Fund was also assigned for
<br />compensated absences and other purposes.
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