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CITY OF HUGO, MINNESOTA
<br />MANAGEMENT'S DISCUSSION AND ANALYSIS
<br />An additional portion of the City of Hugo's net position (7 percent) represents resources that are subject
<br />to external restrictions on how they may be used. The balance of the City's restricted net position
<br />decreased 12 percent from the prior year, primarily as a result of scheduled debt service payments
<br />made during the year. The City of Hugo's balance of unrestricted net position at December 31, 2016
<br />($28,876,782) may be used to meet the government's ongoing obligations to citizens and creditors.
<br />Unrestricted net position increased by 15 percent during the year due primarily to property taxes and
<br />capital grants received for street and utilities construction.
<br />At the end of the current fiscal year, the City of Hugo was able to report positive balances in all
<br />categories of net position, both for the government as a whole, as well as for its business -type
<br />activities. The same was true at the end of the prior fiscal year.
<br />Governmental activities. Governmental activities increased the City of Hugo's net position by
<br />$2,728,613. The most significant factors accounting for this increase relate to property taxes and
<br />increased service revenue as a result of housing development within the City.
<br />Business -type activities. Business -type activities increased the City of Hugo's net position by
<br />$959,451. The majority of this increase is attributable to noncash capital contributions and charges for
<br />services.
<br />A condensed version of the Statement of Activities follows:
<br />Revenues:
<br />Program revenues:
<br />Charges for services
<br />Operating grants and contributions
<br />Capital grants and contributions
<br />General revenues:
<br />Property taxes
<br />Grants and contributions not
<br />restricted to specific programs
<br />Other
<br />Total revenues
<br />Expenses:
<br />General government
<br />Public safety
<br />Highways and streets
<br />Community development
<br />Parks
<br />Interest on long-term debt
<br />Sewer and water
<br />Total expenses
<br />Increase in net position before transfers
<br />Transfers
<br />Increase in net position
<br />Net position, beginning of year
<br />Net position, end of year
<br />City of Hugo, Minnesota's Change in Net Position
<br />Governmental Activities Business -Type Activities Totals
<br />2016 2015 2016 2015 2016 2015
<br />$ 748,354 $ 599,373
<br />317,012 342,514
<br />963,391 2,618,455
<br />5,858,093 5,930,619
<br />$ 2,364,489 $ 2,536,840
<br />606,704 1,041,058
<br />$ 3,112,843 $ 3,136,213
<br />317,012 342,514
<br />1,570,095 3,659,513
<br />5,858,093 5,930,619
<br />12,343 12,987 12,343 12,987
<br />77,557 89,291 622,529 317,129 700,086 406,420
<br />7,976,750 9,593,239 3,593,722 3,895,027 11,570,472 13,488,266
<br />1,197,701
<br />1,122,799
<br />1,557,907
<br />1,766,538
<br />1,693,873
<br />2,798,767
<br />95,450
<br />44,810
<br />691,817
<br />629,830
<br />120,457
<br />245,855
<br />5,357,205 6,608,599
<br />2,619,545 2,984,640
<br />109,068 107,839
<br />2,728,613 3,092,479
<br />38,995,722 35,903,243
<br />$ 41,724,335 $ 38,995,722
<br />M
<br />2,525,203 2,257,189
<br />2,525,203 2,257,189
<br />1,068,519 1,637,838
<br />(109,068) (107,839)
<br />959,451 1,529,999
<br />35,614,246 34,084,247
<br />$ 36,573,697 $ 35,614,246
<br />1,197,701
<br />1,122, 799
<br />1,557,907
<br />1,766,538
<br />1,693,873
<br />2,798,767
<br />95,450
<br />44,810
<br />691,817
<br />629,830
<br />120,457
<br />245,855
<br />2,525,203
<br />2,257,189
<br />7,882,408
<br />8,865,788
<br />3,688,064 4,622,478
<br />3,688,064 4,622,478
<br />74,609,968 69,987,490
<br />$ 78,298,032 $ 74,609,968
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