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4.05 Annual Comprehensive Financial Report (ACFR). <br />The annual audit is to provide assurance that the financial statements are free of material misstatement. The <br />auditor also considers the internal control relevant to the City's preparation and fair presentation of the financial <br />statements. There was one finding in the 2023 audit performed in 2024. The audit was completed in time for the <br />first time in seven years. <br />4.06 Financial Updates. <br />At the end of each quarter, the Finance department prepares a year-to-date financial update report for the City <br />Council. 2024 year-end is projected to end with a positive net income in the General Fund. <br />4.07 Budget. <br />In 2024, the 2025 budget was prepared through coordination of the Finance department with the City <br />Administrator, other departments and the City Council. The City was able to achieve the City Council's goal of <br />maintaining a level levy rate while providing the necessary resources to maintain quality levels of service. The Tax <br />Levy adopted, payable in 2025, is $9,631,000, with an estimated tax capacity rate of 16.35%. <br />2025 GENERAL FUND REVENUE BUDGET <br />Prapartr Tames <br />SM —.000000ma— <br />Mescelt.—, Rev , <br />0% <br />I rnestment R-- <br />1% <br />Fines and Fwa n <br />aX <br />��.inuootr <br />]O,OOgOa[I <br />R oa000d <br />b.�a0.000 <br />aA00,OP] <br />7,da7pa0 <br />LEVY BY USE <br />2025 BUDGETED EXPENDITURE BY SERVICE TYPE <br />0ther <br />Pork, 2% <br />Pnbticwa7k <br />E% <br />Licenses <br />P% <br />Permits <br />} S% <br />I General Government <br />In[ergovernmental IS% <br />3% <br />:en Guvt Seance Charges <br />6% <br />rueuc xmry ac.vac �narg�s <br />24% <br />?020 2071 2022 2023 <br />9.3-1 F'M I F."s. F.* ■ Flta Caahal Fl a <br />Public Safety <br />72x <br />2025 BUDGETED EXPENDITURE BY CATEGORY <br />Supph" & <br />Maintenance <br />1% <br />IM1$Ur]a[ei <br />2% <br />Professional Sern- <br />15% <br />Persowl Services <br />68X <br />Other Empenses <br />4% <br />C.lpital Outlay <br />2% <br />7�a lids` Transfers to Other <br />•FY1e^P'� ta"10i'^ Cantiew leieS Funds <br />D% 2% <br />17 <br />NFA <br />