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A summary of the 2014 operations is as follows:
<br />
<br />OriginalFinal
<br />BudgetedBudgetedActualVariance with
<br />AmountsAmountsAmountsFinal 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, January 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 />
<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 />
<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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