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CITY OF ORONO, MINNESOTA
<br />MANAGEMENT’S DISCUSSION AND ANALYSIS
<br />YEAR ENDED DECEMBER 31, 2015
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<br />(17)
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<br />General Fund
<br />The General Fund is the main operating fund of the City. Its primary revenue source in 2015 was
<br />property taxes at 50.4% of the total revenue, followed by user fees at 36%. The total fund balance
<br />increased by $385,710 during the current fiscal year. This increase is the result of higher than budgeted
<br />building related fees reflective of the improving housing market. Expenditures were under budget for
<br />the year. Savings in the Police Department related to fuel and personnel costs were the primary reason
<br />for the expenditures being under budget. The unassigned fund balance of $4,312,370 at the end of
<br />2015 represents 62% of total General Fund expenditures for the year.
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<br />Proprietary Funds
<br />The City’s enterprise funds had a combined net position balance of $21,917,703 at December 31,
<br />2015. The financial activities of these funds have been summarized in previous charts within this
<br />discussion.
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<br />Capital Assets
<br />The City’s investment in capital assets (net of accumulated depreciation) for its governmental and
<br />business-type activities as of December 31, 2015 is as follows:
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<br />2015 2014 2015 2014 2015 2014
<br />Land 7,055,379$ 7,055,379$ 71,706$ 71,706$ 7,127,085$ 7,127,085$
<br />Construction in Progress 881,371 3,717,114 833,179 519,155 1,714,550 4,236,269
<br />Buildings and Building Improvements 9,133,280 6,099,130 770,330 770,330 9,903,610 6,869,460
<br />Improvements Other than Buildings 2,255,085 1,605,085 13,511 13,511 2,268,596 1,618,596
<br />Streets and Infrastructure 7,054,565 6,323,487 - - 7,054,565 6,323,487
<br />Distribution/Collection Systems - - 23,393,849 22,632,685 23,393,849 22,632,685
<br />Equipment and Furniture 3,476,352 3,276,323 828,821 785,683 4,305,173 4,062,006
<br />Total Capital Assets 29,856,032 28,076,518 25,911,396 24,793,070 55,767,428 52,869,588
<br />Less: Accumulated Depreciation (5,817,111) (5,261,141) (9,190,469) (8,750,737) (15,007,580) (14,011,878)
<br />Total Capital Assets, Net 24,038,921$ 22,815,377$ 16,720,927$ 16,042,333$ 40,759,848$ 38,857,710$
<br />Governmental Activities Business-Type Activities Total
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