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The following table provides a condensed version of the Statement of Activities for the year ended
<br />December 31, 2023, with comparative amounts for the year ended December 31, 2022:
<br />Table 2
<br />Changes in Net Position
<br />Years Ended December 31, 2023 and 2022
<br />Governmental
<br />Business -Type
<br />Activities
<br />Activities
<br />Total
<br />2023
<br />2022
<br />2023
<br />2022
<br />2023
<br />2022
<br />Revenues
<br />Program revenues
<br />Charges for services
<br />$ 814,081
<br />$ 1,307,456
<br />$ 6,559,319
<br />$ 6,140,224
<br />$ 7,373,400
<br />$ 7,447,680
<br />Operating grants and contributions
<br />805,615
<br />375,965
<br />29,253
<br />30,323
<br />834,868
<br />406,288
<br />Capital grants and contributions
<br />597,246
<br />902,926
<br />129,949
<br />651,490
<br />727,195
<br />1,554,416
<br />General revenues
<br />General property taxes
<br />4,570,332
<br />4,404,477
<br />-
<br />-
<br />4,570,332
<br />4,404,477
<br />Tax increments
<br />36,365
<br />338,899
<br />-
<br />-
<br />36,365
<br />338,899
<br />Franchise taxes
<br />92,096
<br />94,320
<br />-
<br />-
<br />92,096
<br />94,320
<br />Earnings on investments (charges)
<br />649,693
<br />(460,213)
<br />277,586
<br />(100,660)
<br />927,279
<br />(560,873)
<br />Gain on sale of capital assets
<br />-
<br />197,910
<br />-
<br />-
<br />-
<br />197,910
<br />Total revenues
<br />7,565,428
<br />7,161,740
<br />6,996,107
<br />6,721,377
<br />14,561,535
<br />13,883,117
<br />Expenses
<br />General government
<br />1,505,270
<br />1,299,419
<br />-
<br />-
<br />1,505,270
<br />1,299,419
<br />Public safety
<br />2,889,826
<br />2,663,521
<br />-
<br />-
<br />2,889,826
<br />2,663,521
<br />Public works
<br />1,327,617
<br />1,796,184
<br />-
<br />-
<br />1,327,617
<br />1,796,184
<br />Parks and recreation
<br />1,136,248
<br />1,013,507
<br />-
<br />-
<br />1,136,248
<br />1,013,507
<br />Economic development
<br />140,255
<br />199,988
<br />-
<br />-
<br />140,255
<br />199,988
<br />Water
<br />-
<br />-
<br />2,677,247
<br />2,473,906
<br />2,677,247
<br />2,473,906
<br />Sewer
<br />-
<br />-
<br />1,864,808
<br />1,817,972
<br />1,864,808
<br />1,817,972
<br />Surface water management
<br />-
<br />-
<br />673,556
<br />610,730
<br />673,556
<br />610,730
<br />Recycling
<br />-
<br />-
<br />154,519
<br />173,092
<br />154,519
<br />173,092
<br />Total expenses
<br />6,999,216
<br />6,972,619
<br />5,370,130
<br />5,075,700
<br />12,369,346
<br />12,048,319
<br />Increase in net position
<br />before transfers
<br />566,212
<br />189,121
<br />1,625,977
<br />1,645,677
<br />2,192,189
<br />1,834,798
<br />Transfers
<br />300,000
<br />300,000
<br />(300,000)
<br />(300,000)
<br />-
<br />-
<br />Increase in net position
<br />866,212
<br />489,121
<br />1,325,977
<br />1,345,677
<br />2,192,189
<br />1,834,798
<br />Netposition- beginning
<br />39,983,720
<br />39,494,599
<br />23,640,646
<br />22,294,969
<br />63,624,366
<br />61,789,568
<br />Net position - ending
<br />$ 40,849,932
<br />$ 39,983,720
<br />$ 24,966,623
<br />$ 23,640,646
<br />$ 65,816,555
<br />$ 63,624,366
<br />Governmental Activities - Current year operating results of governmental activities increased net
<br />position by $866,212, compared to an increase of $489,121 in the prior year. Revenues were up in the
<br />current year, largely with more operating grants for public safety and improved investment earnings.
<br />These favorable results more than offset the revenue reductions in other areas with a decline in
<br />development projects this year. Expenses were up slightly over the prior year with shifts in expense levels
<br />between program activities.
<br />Business -Type Activities - Current year operating results of business -type activities increased net
<br />position by $1,325,977, due to positive results of the utility operations of the City. Program revenues
<br />exceeded program expenses for each of the City's business -type activities. A decrease in federal funding
<br />utilized for water and sewer improvements reduced capital grants and contributions in the business -type
<br />activities in the current year. Improved investment earnings also benefited business -type activities in
<br />fiscal 2023. Expenses increased over the prior year with the largest increase in purchased water costs for
<br />the water utility.
<br />ME
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