06-23-2025 Agenda Packet Cc - Regular Meeting

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General Fund Budgetary Highlights Final Budgeted Actual Variance with Amounts Amounts Final Budget Revenues 11,506,630$ 11,964,184$ 457,554$ Expenditures 11,336,630 11,201,213 135,417 Excess of Revenues Over Expenditures 170,000 762,971 592,971 Other Financing Sources (Uses) Transfers in - 19,244 19,244 Proceeds from sale of capital assets 30,000 32,047 2,047 Transfers out (200,000) (256,407) (56,407) Total Other Financing Sources (Uses) (170,000) (205,116) (35,116) Net Change in Fund Balances - 557,855 557,855 Fund Balances, January 1 4,217,743 4,217,743 Fund Balances, December 31 4,217,743$ 4,775,598$ 557,855$ not amended during the year as shown above. Actual revenues were over the final budget and actual expenditures were under the final budget amounts as shown above. Revenues were over budget due to more grant and building permit revenue being received than expected. The expenditures were under budget due to Hennepin County no longer charging cities with a population of under 10,000 assessing services. Capital Asset and Debt Administration Capital Assets. -type activities as of December 31, 2024, is shown below in capital asset table (net of accumulated depreciation). This investment in capital assets includes land, structures, improvements, machinery and equipment, vehicles, roads, highways and bridges. Major capital asset events during the current fiscal year included the following: The Public Works Facility project was completed The Temporary North Fire Station Conversion Project was completed The Navarre Garage Remodel Project was completed The 2023 Fox Street Improvement Project was completed The 2024 Street improvement project was completed Substantial work was completed on the 2025 Street Improvement Project. The City purchased a Rescue Pumper The City purchased a Tanker/Tender. The City purchased Hook and Plow attachments for unit #433 34 61