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Financial Analysis of the Governmen <br />As noted earlier, the City uses fund accounting to ensure and demonstrate compliance with finance-related legal <br />requirements. <br />Hpwfsonfoubm!Gvoet hpwfsonfoubm!gvoet is to provide information on near-term inflows, outflows <br />and balances of tqfoebcmf resources. Such information is useful in assessing the In <br />particular, vobttjhofe!gvoe!cbmbodf s net resources available for <br />spending at the end of the fiscal year. <br /> <br />Fund Balance December 31, <br />Increase <br /> Major Funds <br />20212020 (Decrease) <br />Hfofsbm!$ 2,019,125$ 1,574,009$ 445,116 <br />The General fund balance increase is due to positive budget variances for both revenues and expenitures. <br />Efcu!Tfswjdf$ 526,495$ 497,849$ 28,646 <br />The Debt Service fund balance increased due to revenues in excess of scheduled debt payments. <br />Qbsl$ (823,419)$ (887,624)$ 64,205 <br />The Park fund balance increased from the previous year simply due to park dedication fees in excess of expenditures. <br />Djuz!Tusffu!Qspkfdut!$ 526,226$ 248,794$ 277,432 <br />The City Street Projects fund increased from prior year due to revenues in excess of capital outlays in 2021. <br /> <br />$2,620,161, an increase of $773,398 in comparison with the prior year. Fund balance of $1,150,655 constitutes <br />vobttjhofe!gvoe!cbmbodf. The remainder of fund balance ($1,469,506) is not available for spending because it is either: 1) <br />nonspendable ($18,376), 2) restricted ($585,972), or 3) assigned ($865,158) for the purposes described in the fund <br />balance section of each balance sheet. <br />Qspqsjfubsz!Gvoet-wide <br />financial statements, but in more detail. <br />Unrestricted net position of the enterprise funds at the end of the year amounted to $7,130,987. The total increase in net <br />position for the funds was $457,433. <br /> <br />23 <br /> <br />