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<br />
<br />General Fund Budgetary Highlights
<br />
<br />Original Final
<br />Budgeted Budgeted Actual Variance with
<br />Amounts Amounts Amounts Final Budget
<br />Revenues 9,955,596$ 9,955,596$ 10,170,684$ 215,088$
<br />Expenditures 9,575,596 9,575,596 9,278,482 297,114
<br />Excess of Revenues
<br />Over Expenditures 380,000 380,000 892,202 512,202
<br />Other Financing Sources (Uses)
<br />Proceeds from sale of capital assets 20,000 20,000 2,940 (17,060)
<br />Transfers out (400,000) (400,000) (300,000) 100,000
<br />Total Other Financing Sources (Uses)(380,000) (380,000) (297,060) 82,940
<br />Net Change in Fund Balances - - 595,142 595,142
<br />Fund Balances, January 1 4,658,173 4,658,173 4,658,173
<br />Fund Balances, December 31 4,658,173$ 4,658,173$ 5,253,315$ 595,142$
<br /> The City’s General fund budget was not amended during the year as shown above. Actual revenues were over the final
<br />budget and expenditures were under the final budget amounts as shown above.
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<br />Capital Asset and Debt Administration
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<br />Capital Assets. The City’s investment in capital assets for its governmental and business-type activities as of
<br />December 31, 2022, is shown below in capital asset table (net of accumulated depreciation). This investment in capital
<br />assets includes land, structures, improvements, machinery and equipment, vehicles, roads, highways and bridges.
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<br />Major capital asset events during the current fiscal year included the following:
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<br />• The East Long Lake Road and Concept Development Project was completed
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<br />• Substantial work was completed on the 2021 Street Improvement Project and on the CSAH 112 18 -043 Street
<br />Project.
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<br />• 2022 Street improvement Project was started.
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<br />• Various Public Safety capital equipment and vehicle projects.
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<br />• The Watermain Replacement (CSAH 19) Project was started.
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<br />• The City also had various sewer and drainage improvements completed in 2022.
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