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A summary of the 2013operations is as follows:
<br />OriginalFinal
<br />BudgetedBudgetedActualVariance with
<br />AmountsAmountsAmountsFinal Budget
<br />Revenues$2,083,300$2,083,300$2,195,682$112,382
<br />Expenditures1,914,4001,914,4001,900,70313,697
<br />Excess of revenues over expenditures168,900168,900294,979126,079
<br />Other financing sources (uses)
<br />Sale of capital assets--10,00010,000
<br />Transfers out(168,900)(168,900)(252,203)(83,303)
<br />Total other financing sources (uses)(168,900)(168,900)(242,203)(73,303)
<br />Net change in fund balances--52,77652,776
<br />Fund balances, January 11,205,8201,205,8201,205,820-
<br />Fund balances, December 31$1,205,820$1,205,820$1,258,596$52,776
<br />Total revenue had a positive budget variance of $112,382. All revenue categories had positive variances, except for
<br />interest on investments, which was due to thecost exceeding themarket value of investments. The City holds its
<br />investments to maturity and the market value decline is temporary and will not affect the overall cash received.
<br />Total expenditures had a positive budget variance of $13,697. Total public safety, public works and economic
<br />development expenditures were over budget by a total of $63,500. Total generalgovernmental expenditures, culture and
<br />recreation and capital outlay expenditures were under budget by a total of $77,197.
<br />The city also transferred $252,203 from the general fund to other funds, which was $83,303 more than budget. City
<br />Council approved establishing anew capital equipment fund for $43,303 and $40,000 was authorized to fund future debt
<br />payments in the 2006A Debt Service fund.
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