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<br />GENERAL FUND BUDGETARY HIGHLIGHTS
<br />
<br />Total General Fund revenues were $370,843 more than estimated in the budget. Licenses and permits and
<br />charges for services revenue surpassed budgeted levels by $381,867 and $167,276, respectively, due to
<br />development activity surpassing expected amounts. An unfavorable variance in property taxes partially
<br />offset the favorable variances previously discussed. Expenditures within the General Fund were less than
<br />budget by $519,616 spread across several functions, but most noticeably in general government and parks
<br />and recreation, mainly in personal services.
<br />
<br />During the year, there were no budget amendments in the General Fund approved by City Council.
<br />
<br />
<br />CAPITAL ASSETS AND LONG-TERM DEBT
<br />
<br />Capital Assets – The City’s investment in capital assets for its governmental and business-type activities
<br />as of December 31, 2017 amounts to $39,042,377 (net of accumulated depreciation). This investment in
<br />capital assets includes items such as land, construction in progress, buildings and structures, infrastructure
<br />and improvements, distribution and collection systems, machinery and equipment, office furniture and
<br />equipment, and vehicles. The total decrease in the City’s investment in capital assets for the current fiscal
<br />year was 5.9 percent (a decrease of 9.6 percent for governmental activities and a decrease of 0.1 percent
<br />for business-type activities).
<br />
<br />2017 2016 2017 2016 2017 2016
<br />Land 2,679,818$ 2,679,818$ –$ –$ 2,679,818$ 2,679,818$
<br />Construction in progress 552,481 7,315,839 324,945 2,075,734 877,426 9,391,573
<br />Buildings and structures 3,594,986 3,514,527 704,778 746,320 4,299,764 4,260,847
<br />Infrastructure and improvements 14,242,467 10,349,148 – – 14,242,467 10,349,148
<br />Distribution and collection systems – – 15,173,947 13,384,114 15,173,947 13,384,114
<br />Machinery and equipment 300,958 208,687 88,330 100,213 389,288 308,900
<br />Office furniture and equipment 57,236 71,460 – – 57,236 71,460
<br />Vehicles 1,322,431 1,039,242 – – 1,322,431 1,039,242
<br />Total 22,750,377$ 25,178,721$ 16,292,000$ 16,306,381$ 39,042,377$ 41,485,102$
<br />Table 3
<br />Capital Assets
<br />(Net of Depreciation)
<br />Total
<br />Business-Type
<br />Activities
<br />Governmental
<br />Activities
<br />
<br />Decreases in the current year included the contribution of capital assets to the county for a multi-year
<br />street project accumulated by the City.
<br />
<br />Additional information on the City’s capital assets can be found in Note 3 of the notes to basic financial
<br />statements.
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