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Business-type Activities. Business-type activities increased net position by $1,432,700. Capital assets in the amount of $2,159,178 were transferred in from governmental activities. This was offset by a $335,000 transfer out of cash and operating losses of the three enterprise funds totaling $462,213. Financial Analysis of the City’s Funds As noted earlier, the City uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. Governmental funds. The focus of the City’s governmental funds is to provide information on near-term inflows, outflows, and balances of spendable resources. Such information is useful in assessing the City’s financing requirements. As of the end of the current fiscal year, the City’s governmental funds reported combined ending fund balances of $14,482,106 an increase of $320,506 from the prior year. The ending fund balance is classified as follows: Nonspendable $102,556 Restricted 7,176,386 Committed 102,948 Assigned 5,502,668 Unassigned 1,597,548 Total $14,482,106 The General Fund is the chief operating fund of the City. At the end of the current fiscal year, unassigned fund balance of the General Fund was $2,489,685, while total fund balance reached $2,590,790. As a measure of the General Fund’s liquidity, it may be useful to compare both unassigned fund balance and total fund balance to total fund expenditures. Unassigned fund balance represents 35% of total General Fund expenditures and total fund balance represents 37% of that same amount. During the current fiscal year, the fund balance in the General Fund increased by $83,026 due to increase in revenues over expenditures of $79,555. The Street Improvement Debt Service Fund decreased by $303,529 mainly due to the refunding of specific prior debt issuances and using cash held to lower new debt issued. 22