<br />
<br />The General Fund is the chief operating fund of the City of St. Anthony, Minnesota. At the end
<br />of the current fiscal year, unassigned fund balance of the General Fund was $2,381,460, while
<br />total fund balance reached $2,507,764. As a measure of the General Fund’s liquidity, it may be
<br />useful to compare both unassigned fund balance and total fund balance to total fund
<br />expenditures. Unassigned fund balance represents 35% of total General Fund expenditures and
<br />total fund balance represents 37% of that same amount.
<br />
<br />During the current fiscal year, the fund balance in the General Fund increased by $107,650 due
<br />to increase of transfers from $200,000 to $357,870.
<br />
<br />The Street Improvement Debt Service Fund increased by $406,532. Expenditures exceeded
<br />revenues by $24,971, however, other financing sources of $431,503 ultimately created an
<br />increase in fund balance.
<br />
<br />The HRA TIF Debt Service Fund decreased by $1,503 due to transferred revenue that covered
<br />only principal and interest expenditures.
<br />
<br />The HRA TIF Improvement Fund increased by $155,224, substantially due to a decrease in
<br />Construction and acquisitions costs of $130,329.
<br />
<br />The Street Improvement Project Funds increased by $268,342 due to transfer revenue of
<br />$226,794 received from Enterprise funds for utility related improvements.
<br />
<br />The Public Utilities Infrastructure Fund decreased by $504,467 substantially due to costs related
<br />to fiber expansions, well improvements, and purchase of heavy equipment.
<br />
<br />Non-major Special Revenue Funds increased by $9,173 resulting in an ending balance of
<br />$167,316, substantially due to the increase in general property tax revenue of $6,445.
<br />
<br />Non-major Debt Service Funds had a total fund balance of $1,080,186, all of which is restricted
<br />for the payment of debt service. The net increase in fund balance during the current year in the
<br />non-major debt service funds was $33,011, substantially due to transfer revenue of $68,880
<br />received from Enterprise funds for utility related improvements.
<br />
<br />Non-major Capital Project Funds had a total fund balance of $1,023,945, a decrease of $971,640
<br />from prior year, substantially due to increase in capital related expenditures of $646,721.
<br />
<br />Proprietary funds. The City of St. Anthony, Minnesota’s proprietary funds provide the same
<br />type of information found in the government-wide financial statements, but in more detail.
<br />
<br />Total net position in the Liquor Operations, Water and Sewer Funds, and Stormwater Utility
<br />Fund at the end of the year combined was $26,869,580. The total net position for each fund was:
<br />Liquor – $2,184,515; Water and Sewer – $16,669,114; Stormwater Utility - $8,015,951.
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