|
-13-
<br />GENERAL FUND BUDGETARY HIGHLIGHTS
<br />Total General Fund revenues were $206,186 more than estimated in the budget. Licenses and permits
<br />exceeded budgeted levels by $326,066, primarily due to building permit fees with more than anticipated
<br />construction activity in the City. Expenditures within the General Fund were less than budget by
<br />$215,158, spread across several functions. The City’s sale of capital assets for $195,541 was not included
<br />in the final budget also contributing to the favorable change in fund balances in the General Fund.
<br />During the year, the City Council approved budget amendments, which slightly increased revenues by
<br />$740 and increased expenditures and transfers out by $281,200, providing supplemental appropriations
<br />and moving available resources to other funds.
<br />CAPITAL ASSETS AND LONG-TERM LIABILITIES
<br />Capital Assets – The City’s investment in capital assets for its governmental and business-type activities
<br />as of December 31, 2022 amounts to $49,240,936 (net of accumulated depreciation). This investment in
<br />capital assets includes items such as land, construction in progress, buildings and structures, infrastructure
<br />and improvements, distribution and collection systems, machinery and equipment, office furniture and
<br />equipment, and vehicles.
<br />2022 2021 2022 2021 2022 2021
<br />Land 2,669,467$ 2,679,818$ –$ –$ 2,669,467$ 2,679,818$
<br />Construction in progress 2,090,423 2,369,392 735,625 1,585,722 2,826,048 3,955,114
<br />Buildings and structures 3,564,010 3,467,247 497,060 538,604 4,061,070 4,005,851
<br />Infrastructure and improvements 18,697,408 17,656,824 – – 18,697,408 17,656,824
<br />Distribution and collection systems – – 19,331,477 18,065,524 19,331,477 18,065,524
<br />Machinery and equipment 299,262 286,054 276,404 302,272 575,666 588,326
<br />Office furniture and equipment 8,857 13,805 – – 8,857 13,805
<br />Vehicles 1,070,943 1,141,075 – – 1,070,943 1,141,075
<br />Total 28,400,370$ 27,614,215$ 20,840,566$ 20,492,122$ 49,240,936$ 48,106,337$
<br />Table 3
<br />Capital Assets
<br />(Net of Depreciation)
<br />Total
<br />Business-Type
<br />Activities
<br />Governmental
<br />Activities
<br />Increases in the current year included ongoing projects for streets and related utility infrastructure
<br />contributing to the changes in the table above as of year-end.
<br />Additional information on the City’s capital assets can be found in Note 4 of the notes to basic financial
<br />statements.
|