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<br />Management Discussion and Analysis - Continued
<br />May 29,2008
<br />
<br />Governmental activities. Governmental activities increased the City's net assets by $442,051, thereby accounting for 71 percent
<br />of the total growth in the net assets of the City. Key elements of this increase are as follows:
<br />
<br />Revenues
<br />Program revenues
<br />Charges for services
<br />Operating grants and contributions
<br />Capital grants and contributions
<br />General revenues
<br />Taxes
<br />Property taxes/tax increments
<br />Other taxes
<br />Grants and contributions
<br />not restricted to specific programs
<br />Unrestricted investment earnings
<br />Gain on sale of capital assets
<br />Miscellaneous
<br />
<br />Total revenues
<br />
<br />Expenses
<br />General government
<br />Public safety
<br />Public works
<br />Culture and recreation
<br />Economic development
<br />Miscellaneous
<br />Interest on long-term debt
<br />Water
<br />Sewer
<br />Storm Water
<br />
<br />Total expenses
<br />
<br />Increase in net assets before
<br />before capital contributions from
<br />other funds and transfers
<br />Capital contributions (to) from other fune
<br />Transfers
<br />
<br />Change in net assets
<br />Net assets, January 1
<br />
<br />Net assets, December 31
<br />
<br />Changes in Net Assets
<br />
<br />2007
<br />
<br />$ 545,825
<br />81,905
<br />436,460
<br />
<br />1,849,661
<br />1,724
<br />
<br />106,114
<br />195,859
<br />9,611
<br />
<br />3,227,159
<br />
<br />532,422
<br />999,935
<br />751,402
<br />134,706
<br />32,751
<br />
<br />333,892
<br />
<br />2,785,108
<br />
<br />442,051
<br />
<br />442,051
<br />8,902,734
<br />
<br />$ 9,344,785
<br />
<br />Governmental Activities
<br />
<br />2006
<br />
<br />$ 416,135
<br />417,526
<br />1,402,196
<br />
<br />1,767,110
<br />5,642
<br />
<br />36,026
<br />210,512
<br />
<br />(3,190)
<br />
<br />4,251,957
<br />
<br />538,308
<br />999,878
<br />423,484
<br />125,765
<br />398,064
<br />19,960
<br />231,974
<br />
<br />2,737,433
<br />
<br />1,514,524
<br />(839,504)
<br />(233,802)
<br />
<br />441,218
<br />8,461,516
<br />
<br />$ 8,902,734
<br />
<br />Increase
<br />(Decrease)
<br />
<br />$ 129,690
<br />(335,621)
<br />(965,736)
<br />
<br />82,551
<br />(3,918)
<br />
<br />70,088
<br />(14,653)
<br />9,611
<br />3,190
<br />
<br />(1,024,798)
<br />
<br />(5,886)
<br />57
<br />327,918
<br />8,941
<br />(365,313)
<br />(19,960)
<br />101,918
<br />
<br />47,675
<br />
<br />(1,072,473)
<br />839,504
<br />233,802
<br />
<br />833
<br />441,218
<br />
<br />$ 442,051
<br />
<br />2007
<br />
<br />$ 599,309
<br />
<br />123,238
<br />
<br />164,677
<br />(4,320)
<br />
<br />882,904
<br />
<br />308,855
<br />357,276
<br />33,893
<br />
<br />700,024
<br />
<br />182,880
<br />
<br />182,880
<br />10,572,810
<br />
<br />$ 10,755,690
<br />
<br />Business-type Activities
<br />
<br />2006
<br />
<br />$ 699,051
<br />
<br />427,529
<br />
<br />100,803
<br />
<br />1,227,383
<br />
<br />349,563
<br />363,425
<br />23,996
<br />
<br />736,984
<br />
<br />490,399
<br />839,504
<br />233,802
<br />
<br />1,563,705
<br />9,009,105
<br />
<br />$ 10,572,810
<br />
<br />Increase
<br />(Decrease)
<br />
<br />$ (99,742)
<br />
<br />(304,291)
<br />
<br />63,874
<br />(4,320)
<br />
<br />(344,479)
<br />
<br />(40,708)
<br />(6,149)
<br />9,897
<br />
<br />(36,960)
<br />
<br />(307,519)
<br />(839,504)
<br />(233,802)
<br />
<br />(1,380,825)
<br />1,563,705
<br />
<br />$ 182,880
<br />
<br />The decrease in program revenues for capital grants and contributions in governmental activities and business-type activities is attributed to less
<br />private residential developments. Governmental activities revenues changed as a result of additional property tax receipts and the elimination of
<br />the homestead credit state reduction. In total, governmental activities expenses remained unchanged. However, public works expenditures
<br />increased as a result of a partial payment for the new public works facility and economic development declined because there were no additional
<br />professional services required for pending development projects.
<br />
<br />-VI-
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