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CITY OF ORONO, MINNESOTA
<br />MANAGEMENT’S DISCUSSION AND ANALYSIS
<br />YEAR ENDED DECEMBER 31, 2017
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<br />(14)
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<br />The City has historically been financially conservative, managing revenues and expenditures/expenses
<br />to assure operation of a balanced budget. The ongoing management of revenues and
<br />expenditures/expenses and the sound financial position the City has attained have resulted in the City’s
<br />excellent bond ratings: Aaa for all general obligation bond issues.
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<br />The following is a summary of the City’s change in Governmental net position:
<br />
<br />2017 2016
<br />Annual
<br />Change
<br />Percent
<br />Change
<br />REVENUES
<br />Program Revenues:
<br />Charges for Services $ 4,091,124 $ 3,916,626 174,498$ 4.46 %
<br />Operating Grants and Contributions 1,174,782 671,059 503,723 75
<br />Capital Grants and Contributions 609 1,070 (461) (43)
<br />General Revenues:
<br />Property Taxes 5,268,854 5,021,340 247,514 5
<br />Unrestricted Investment Earnings 114,356 109,752 4,604 4
<br />Gain on Sale of Capital Assets 38,738 45,518 (6,780) (15)
<br />Other 53,207 149,388 (96,181) (64)
<br />Total Revenues 10,741,670 9,914,753 826,917 8.34
<br />EXPENSES
<br />General Government 2,722,779 2,314,539 408,240 18
<br />Public Safety 5,486,330 6,263,133 (776,803) (12)
<br />Streets 393,354 752,976 (359,622) (48)
<br />Parks and Recreation 420,410 413,797 6,613 2
<br />Interest on Long-Term Debt 173,552 258,874 (85,322) (33)
<br />Total Expenses 9,196,425 10,003,319 (806,894) (8)
<br />CHANGE IN NET POSITION
<br /> BEFORE TRANSFERS 1,545,245 (88,566)1,633,811 (1845)
<br />Transfers 155,000 155,000 - -
<br />CHANGE IN NET POSITION 1,700,245 66,434 1,633,811 2459
<br />Net Position - Beginning of Year 21,913,017 21,846,583 66,434 0
<br />NET POSITION - END OF YEAR 23,613,262$ 21,913,017$ 1,700,245$ 8 %
<br />Governmental Activities
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<br />Overall revenues increased 8.0% between 2016 and 2017. The largest increase was operating grants
<br />and contributions, which increased as a result of a $458,339 increase in Municipal State Aid for Streets.
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