2023 ACFR - Laserfiche WebLink

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The HRA TIF Improvement Fund increased by $1,410,347, substantially due to a increase in revenues over expenses of $1,181,597 and an decrease in accounts payable. The Street Improvement Project Funds decreased by $370,181 due to other financing uses of $235,041 exceeding revenues under expenditures of $135,140. The Public Utilities Infrastructure Fund increased by $65,513 substantially due to investment income of $159,242 and expenditures of $97,129. Non-major Special Revenue Funds increased by $91,733 resulting in an ending balance of $900,971 substantially due increase in investment earnings and a decrease in HRA expenditures of $11,821. Non-major Debt Service Funds had a total fund balance of $769,624, all of which is restricted for the payment of debt service. The net decrease in fund balance during the current year in the non- major debt service funds was $87,370, substantially due to the planned use of fund balance to support the debt service associated with the Public Facilities Revenue Bonds and Tax Abatement bonds. Non-major Capital Project Funds had a total fund balance of $2,296,456, a decrease of $678,507 from prior year, substantially due to expenses over revenues of $713,090 and net transfers in of $34,583. Proprietary funds. The City’s proprietary funds provide the same type of information found in the government-wide financial statements, but in more detail. Total net position in the Liquor Operations, Water and Sewer Funds, and Stormwater Utility Fund at the end of the year combined was $31,616,353. The total net position for each fund was: Liquor – $2,936,622; Water and Sewer – $19,162,405; Stormwater Utility - $9,517,326. 25