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<br /> <br />General Fund Budgetary Highlights <br /> <br />Variances from actual to budget can be briefly summarized as follows: <br /> <br /> General property taxes were $32,893 greater than budget due to a higher percentage of <br />current tax levy collections were received than was budgeted. <br /> Licenses and permits were $7,758 greater than budget primarily due to higher level of <br />construction related permit activity. <br /> Intergovernmental revenues were $21,141 greater than budget due to higher funding <br />levels for public safety grants. <br /> Charges for services were less than budget by $21,687 mainly due to gasoline costs being <br />lower by $22,947 which lowered the charges for gasoline charged to other governmental <br />entities. <br /> Planning and Zoning other services and charges were greater than budget by $20,867 due <br />to increased redevelopment activity. <br /> Other revenues were greater than budgeted by $25,586 substantially due to investment <br />earnings being higher than budget by $26,792. <br /> Public Works was $23,401 less than budget due to gasoline costs being $35,908 less than <br />budget. <br /> Police protection was $103,805 more than budget due to costs professional costs <br />associated with data practices requests. <br /> <br />Capital Asset and Debt Administration <br /> <br />Capital Assets. The City’s investment in capital assets for its governmental and business-type <br />activities as of December 31, 2019 amounts to $58,421,844 (net of accumulated depreciation). <br />This investment in capital assets includes land, buildings and structures, improvements, <br />machinery and equipment, park facilities, roads and infrastructure. The City’s investment in <br />capital assets (net) decreased 2%. <br /> <br />Major capital asset events during the current fiscal year included the following: <br /> <br /> The 2018 street reconstruction and infrastructure improvements was completed in 2019 along <br />with the Silver Lake Road LED street lighting project. <br /> The 2019 Silver Lake Road fold mitigation project was completed in 2019. <br /> The 2019 County Road C utility improvements, trail and sidewalk improvements are <br />reflected in construction work in progress along with the preliminary cost associated with the <br />future street, utility and stormwater improvements. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />24