|
<br />-12-
<br />GENERAL FUND BUDGETARY HIGHLIGHTS
<br />
<br />Total General Fund revenues were $200,485 more than estimated in the budget. Licenses and permits
<br />revenue exceeded budgeted levels by $271,510, with development activity surpassing expected amounts.
<br />An unfavorable variance in property taxes partially offset the favorable variance previously discussed.
<br />Expenditures within the General Fund were less than budget by $367,609 spread across several functions,
<br />but most noticeably in general government and parks and recreation, mainly in personal services and
<br />other services and charges.
<br />
<br />During the year, the City Council approved budget amendments reducing revenues by $68,200 and
<br />increasing expenditures and transfers out by $437,710. The largest change was approving $360,000 of
<br />additional transfers out, moving available resources to other funds.
<br />
<br />
<br />CAPITAL ASSETS AND LONG-TERM LIABILITIES
<br />
<br />Capital Assets – The City’s investment in capital assets for its governmental and business-type activities
<br />as of December 31, 2019 amounts to $46,997,443 (net of accumulated depreciation). This investment in
<br />capital assets includes items, such as land, construction in progress, buildings and structures,
<br />infrastructure and improvements, distribution and collection systems, machinery and equipment, office
<br />furniture and equipment, and vehicles.
<br />
<br />2019 2018 2019 2018 2019 2018
<br />Land 2,679,818$ 2,679,818$ –$ –$ 2,679,818$ 2,679,818$
<br />Construction in progress 5,137,764 5,350,261 3,193,168 3,328,994 8,330,932 8,679,255
<br />Buildings and structures 3,526,203 3,404,870 621,690 663,234 4,147,893 4,068,104
<br />Infrastructure and improvements 14,054,209 13,853,074 – – 14,054,209 13,853,074
<br />Distribution and collection systems – – 15,931,197 15,797,304 15,931,197 15,797,304
<br />Machinery and equipment 344,129 300,821 262,476 78,336 606,605 379,157
<br />Office furniture and equipment 31,416 44,326 – – 31,416 44,326
<br />Vehicles 1,215,373 1,339,728 – – 1,215,373 1,339,728
<br />Total 26,988,912$ 26,972,898$ 20,008,531$ 19,867,868$ 46,997,443$ 46,840,766$
<br />Table 3
<br />Capital Assets
<br />(Net of Depreciation)
<br />Total
<br />Business-Type
<br />Activities
<br />Governmental
<br />Activities
<br />
<br />
<br />Increases in the current year included ongoing projects for streets, related utility infrastructure, and trails,
<br />contributing to the changes in the table above as of year-end.
<br />
<br />Additional information on the City’s capital assets can be found in Note 3 of the notes to basic financial
<br />statements.
|