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<br />GENERAL FUND BUDGETARY HIGHLIGHTS
<br />
<br />Total General Fund revenues were $332,821 more than estimated in the budget. Intergovernmental
<br />revenue exceeded budgeted levels by $477,752, primarily due to the receipt of federal coronavirus relief
<br />funds as previously discussed. An unfavorable variance in charges and services, largely due to the
<br />COVID-19 pandemic, partially offset the variance in intergovernmental revenue sources. Expenditures
<br />within the General Fund were less than budget by $444,842 spread across several functions, but most
<br />noticeably in general government and parks and recreation, mainly in personal services, and other
<br />services and charges.
<br />
<br />During the year, the City Council approved budget amendments increasing expenditures and transfers out
<br />by $491,150. The largest change was approving $478,000 of additional transfers out, moving available
<br />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, 2020 amounts to $46,007,866 (net of accumulated depreciation). This investment in
<br />capital assets includes items, such as land, construction in progress, buildings and structures,
<br />infrastructure and improvements, distribution and collection systems, machinery and equipment, office
<br />furniture and equipment, and vehicles.
<br />
<br />2020 2019 2020 2019 2020 2019
<br />Land 2,679,818$ 2,679,818$ –$ –$ 2,679,818$ 2,679,818$
<br />Construction in progress 429,828 5,137,764 381,935 3,193,168 811,763 8,330,932
<br />Buildings and structures 3,688,414 3,526,203 580,147 621,690 4,268,561 4,147,893
<br />Infrastructure and improvements 18,198,967 14,054,209 – – 18,198,967 14,054,209
<br />Distribution and collection systems – – 18,298,005 15,931,197 18,298,005 15,931,197
<br />Machinery and equipment 279,004 344,129 329,713 262,476 608,717 606,605
<br />Office furniture and equipment 20,639 31,416 – – 20,639 31,416
<br />Vehicles 1,121,396 1,215,373 – – 1,121,396 1,215,373
<br />Total 26,418,066$ 26,988,912$ 19,589,800$ 20,008,531$ 46,007,866$ 46,997,443$
<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 />The City finalized several larger projects in the current year, which reduced construction in progress ,
<br />while increasing specific capital asset categories listed in the table above.
<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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