Laserfiche WebLink
Financial Analysis of the City <br />As noted earlier, the City uses fund accounting to ensure and demonstrate compliance with finance-related legal <br />requirements. <br />Governmental Funds. governmental funds is to provide information on near-term inflows, outflows <br />and balances of spendable <br />particular, unassigned fund balance <br />spending at the end of the fiscal year. The table below outlines the governmental fund balances for the year ending <br />December 31, 2024: <br />5 of this report. <br />The General fund is the chief operating fund of the City. At the end of the current year, the fund balance of the General <br />fund balance to total fund expenditures. The total unassigned fund balance as a percent of total fund expenditures is <br />shown in the chart below along with total fund balance as a percent of total expenditures. <br />Current Year Prior Year Increase/ <br />Ending Balance Ending Balance (Decrease) <br />General Fund Fund Balances <br />Nonspendable 92,393$ 93,611$ (1,218)$ <br />Unassigned 4,683,205 4,124,132 559,073 <br />4,775,598$ 4,217,743$ 557,855$ <br />General Fund expenditures 11,201,213$ 10,826,241$ <br />Unassigned as a percent of expenditures 41.8%38.1% <br />Total Fund Balance as a percent of expenditures 42.6%39.0% <br />increased during the current fiscal year as shown in the table above. The <br />increase in fund balance was due to intergovernmental and building permit revenue in excess of the final budget. The city <br />also had a positive budget variance for the expenditures mostly due to assessing services coming in under budget. <br />32 59