Laserfiche WebLink
<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 $172,564 greater than budget due to a higher percentage of <br />current tax levy collections were received than was budgeted. <br /> Licenses and permits were $230,952 greater than budget primarily due to higher level of <br />construction related permit activity. <br /> Intergovernmental revenues were $394,978 greater than budget primarily due to the use <br />of ARPA funds. <br /> Public safety expenditures were $85,639 greater than budget primarily due to higher level <br />of building permit activity and its related increase in inspections activity <br /> Transfers out were $663,456 greater than budget due to excess fund balance transfers <br />made in accordance with the fund balance policy. <br /> <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, 2022 amounts to $58.563.576 (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) increased 2.5%. <br /> <br />Major capital asset events during the current fiscal year included the following: <br /> <br /> The 2022 Street and Utility Improvement project construction began and significant <br />progress was made. The remaining construction activities will be completed in 2023. <br /> The City’s Water Tower was refurbished and painted in 2022. This project was <br />completed in 2022. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />26