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A summary of the 2014 operations is as follows:
<br /> Original Final
<br /> Budgeted Budgeted Actual Variance with
<br /> Amounts Amounts Amounts Final Budget
<br /> Revenues $ 2,129,944 $ 2,129,944 $ 2,182,479 $ 52,535
<br /> Expenditures 1,951,416 1,951,416 1,946,562 4,854
<br /> Excess of revenues over expenditures 178,528 178,528 235,917 57,389
<br /> Other financing sources(uses)
<br /> Sale of capital assets - - 47,500 47,500
<br /> Transfers out (169,000) (169,000) (223,000) (54,000)
<br /> Total other financing sources(uses) (169,000) (169,000) (175,500) (6,500)
<br /> Net change in fund balances 9,528 9,528 60,417 50,889
<br /> Fund balances,Tan::a:j 1 1,258,596 1,258,596 1,258,596 -
<br /> Fund balances,December 31 $ 1,268,124 $ 1,268,124 $ 1,319,013 $ 50,889
<br /> • Total revenue had a positive budget variance of$52,535. All revenue categories had positive variances,except for
<br /> interest on investments,property taxes, and fines and forfeitures. The City holds its investments to maturity and the
<br /> market value decline is temporary and will not affect the overall cash received.
<br /> • Total expenditures had a positive budget variance of$4,854. Total public safety and public works expenditures were
<br /> over budget by a total of$33,484 and$23,601,respectively. Total general governmental expenditures were under
<br /> budget by$56,533
<br /> • The city also transferred$223,000 from the general fund to other funds,which was$54,000 more than budget.City
<br /> Council approved a transfer of$54,000 which was authorized to fund future capital asset acquisitions.
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