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Proprietary Funds. The City’s proprietary funds provide the same type of information found in the government-wide
<br />financial statements, but in more detail. At the end of the year, unrestricted net position of the enterprise funds amounted
<br />to $5,136,562. Other factors concerning the finances of these funds have already been addressed in the discussion of the
<br />City’s business-type activities.
<br />General Fund Budgetary Highlights
<br />The City’s General fund budget was not amended during the year. The final budget anticipated use of $0 of fund balance
<br />due to. Revenues were more than budget by $644,275, primarily due to licenses and permits and charges for services
<br />coming over budget by $383,801 and $104,473 respectively. Expenditures were $4,086 less than budgeted amounts,
<br />primarily due to expenditures for general government coming in under budget by $98,107. All other departments had
<br />expenditures higher than budgeted amounts.
<br />Capital Asset and Debt Administration
<br />Capital Assets.The City’s investment in capital assets for its governmental and business-type activities as of
<br />December 31, 2019, amounts to $51,319,160 (net of accumulated depreciation). This investment in capital assets
<br />includes land (tangible and intangible), buildings, improvements, machinery and equipment, park facilities, roads and
<br />bridges, and other infrastructure.
<br />Major capital asset events during the current fiscal year included the following:
<br />The 2018 Street Improvements and Old Crystal Bay Road Improvement projects were both completed for
<br />$1,540,994 and $2,315,270 respectively during 2019.
<br />Various City vehicles were purchased totaling $229,083
<br />The City has construction commitments relating to Street and improvement projects. Constructions in progress at
<br />year-end for both governmental and business-type activities total $1,906,059.
<br />City of Orono’ Capital Assets
<br />(Net of Depreciation)
<br />Additional information on the City’s capital assets can be found in Note 3B starting on page 71 of this report.
<br />Increase Increase
<br />2019 2018 (Decrease) 2019 2018 (Decrease)
<br />Land 7,337,435$ 7,337,435$ -$ 79,706$ 79,706$ -$
<br />Construction in Progress 2,124,120 3,946,328 (1,822,208) 899,978 1,127,199 (227,221)
<br />Infrastructure 12,595,398 8,986,873 3,608,525 1,147,476 16,136,858 (14,989,382)
<br />Buildings and Systems 6,209,827 6,369,219 (159,392) 7,383 1,113,385 (1,106,002)
<br />Improvements other than Buildings 1,390,777 1,474,641 (83,864) 389,605 7,636 381,969
<br />Machinery and Equipment 2,096,940 2,086,691 10,249 17,040,515 433,267 16,607,248
<br />Total 31,754,497$ 30,201,187$ 1,553,310$ 19,564,663$ 18,898,051$ 666,612$
<br />Governmental Activities Business-type Activities
<br />Additional information on the City’s capital assets can be found in Note 3B starting on page Additional information on the City’s capital assets can be found in Note 3B starting on page 7171 of this report.of this report.
<br />Governmental ActivitiesGovernmental Activities
<br />Various City vehicles were purchased totaling $229,08
<br />The City has construction commitments relating to StreetThe City has construction commitments relating to Street and improvementand improvement projects. Constructions projects. Constructions
<br />end for both governmental and businessend for both governmental and business-type activities total $type activities total $1,906,0591,906,059. .
<br />City of OronoCity of Orono’ Capital AssetsCapital Assets
<br />(Net of DepreciationNet of Depreciation) )
<br />Business-type ActivitiesBusiness-type Activities
<br />36
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