2023 ACFR - Laserfiche WebLink

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General Fund Budgetary Highlights Variances from actual to budget can be briefly summarized as follows:  Licenses and permits were $372,710 greater than budget primarily due to higher level of construction related permit activity.  Intergovernmental revenues were $401,501 greater than budget primarily due one time receipt of public safety aid.  Protective inspections expenditures were $211,004 greater than budget primarily due to higher level of building permit activity and its related increase in inspections activity  Transfers out were $105,950 greater than budget due to excess fund balance transfers made in accordance with the fund balance policy.  Investment Income was $189,705 greater than budget due to higher interest rates.  Public Safety Fire personal services expenditures were $178,069 less than budget due to postponing planned hires to 2024.  Public Safety Police expenditures were $117,216 less than budget due to position vacancies. Capital Asset and Debt Administration Capital Assets. The City’s investment in capital assets for its governmental and business-type activities as of December 31, 2023 amounts to $57,116,609 (net of accumulated depreciation). This investment in capital assets includes land, buildings and structures, improvements, machinery and equipment, park facilities, roads and infrastructure. The City’s investment in capital assets (net) decreased 2.5%. Major capital asset events during the current fiscal year included the following:  The 2022 Street and Utility Improvement project construction was finalized in 2023.  The city purchased a new fire engine, the majority of which was paid for in 2023.  The feasibility study for the 2024 Street and Utility Improvement project took place in 2023. 26