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GENERAL FUND BUDGETARY HIGHLIGHTS
<br /> General Fund revenues exceeded the budgeted amount by $625,689, primarily because of conservative
<br /> budgeting for local government aid funding, investment earnings, and various other sources. Property tax
<br /> was the only major source that was less than anticipated due to slower collections than anticipated.
<br /> Total expenditures were $272,000 under the amount approved in the final budget. Actual spending was
<br /> under budget primarily with conservative budgeting for police public safety and culture and recreation.
<br /> After considering the variances in revenues and expenditures discussed above,the ending fund balance of
<br /> the General Fund was $897,689 more than projected in the final budget. The increase in fund balance
<br /> allowed the City to achieve an unassigned fund balance of 50.0 percent of subsequent year's revenues and
<br /> transfers in compared to 49.3 percent at the end of the prior year.
<br /> CAPITAL ASSETS AND LONG-TERM DEBT
<br /> Capital Assets—The City's investment in capital assets for its governmental and business-type activities
<br /> as of December 31, 2025, was $53,903,242 (net of accumulated depreciation). This investment in capital
<br /> assets includes land,construction in progress,land improvements,buildings,infrastructure,and equipment.
<br /> Table 3
<br /> Capital Assets
<br /> Governmental Activities Business-Type Activities Total
<br /> 2025 2024 2025 2024 2025 2024
<br /> Capital assets
<br /> Land $ 775,378 $ 775,378 $ 563,579 $ 563,579 $ 1,338,957 $ 1,338,957
<br /> Construction in progress 1,424,467 57,126 789,766 1,696,911 2,214,233 1,754,037
<br /> Land improvements 2,344,160 1,703,362 — — 2,344,160 1,703,362
<br /> Buildings 18,435,519 18,435,519 4,894,350 4,865,750 23,329,869 23,301,269
<br /> Infrastructure 46,074,421 46,074,421 21,674,031 20,253,981 67,748,452 66,328,402
<br /> Equipment 9,181,794 8,699,467 3,309,528 1,598,112 12,491,322 10,297,579
<br /> Total capital assets 78,235,739 75,745,273 31,231,254 28,978,333 109,466,993 104,723,606
<br /> Less accumulated
<br /> depreciation (40,694,370) (37,909,290) (14,869,381) (14,533,185) (55,563,751) (52,442,475)
<br /> Total capital assets,
<br /> net of depreciation $ 37,541,369 $ 37,835,983 S 16,361,873 $ 14,445,148 $ 53,903,242 $ 52,281,131
<br /> Major capital assets events during the current year included the following:
<br /> • Street project and related utility improvements.
<br /> • Water meter replacement project.
<br /> • Sewer lining improvements.
<br /> • Storm water management and ongoing pond projects.
<br /> Additional information on the City's capital assets can be found in Note 5 of the notes to basic financial
<br /> statements.
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