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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 $5,553,312. 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 no changes in fund
<br />balance. Revenues were more than budget by $153,352, primarily due to intergovernmental and charges for services
<br />revenue coming over budget by $134,205 and $115,736 respectively. Expenditures were $33,823 more than budgeted
<br />amounts, primarily due to expenditures for public works coming in over budget by $302,433.
<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, 2020, amounts to $53,286,459 (net of accumulated depreciation). This investment in capital assets
<br />includes land (tangible and intangible), buildings, improvements, machinery and equipment, park facilities, roads and
<br />bridges, and other infrastructure.
<br />Major capital asset events during the current fiscal year included the following:
<br />•The 2019, 2020 and 2021 Street Improvement projects.
<br />•Various City vehicles were purchased
<br />•The City also had various sewer and drainage improvements done in 2020
<br />City of Orono’s Capital Assets
<br />(Net of Depreciation)
<br />Additional information on the City’s capital assets can be found in Note 3B starting on page 63 of this report.
<br />Increase Increase
<br />2020 2019 (Decrease)2020 2019 (Decrease)
<br />Land 7,677,435$ 7,337,435$ 340,000$ 86,074$ 86,074$ -$
<br />Construction in Progress 2,077,173 2,124,119 (46,946) 387,468 899,978 (512,510)
<br />Infrastructure 13,691,518 12,595,399 1,096,119 1,076,935 17,040,515 (15,963,580)
<br />Buildings and Systems 6,022,487 6,209,827 (187,340) 762 1,147,476 (1,146,714)
<br />Improvements other than Buildings 1,714,581 1,390,777 323,804 602,996 1,015 601,981
<br />Machinery and Equipment 2,376,660 2,096,940 279,720 17,572,370 389,605 17,182,765
<br />Total 33,559,854$ 31,754,497$ 1,805,357$ 19,726,605$ 19,564,663$ 161,942$
<br />Governmental Activities Business-type Activities
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