information for the Wastewater and Solid Waste operations, both of which are considered to be
major funds of the City.
Fiduciary Funds
Fiduciary funds are used to account for resources held for the benefit of parties outside the
government (i.¢e., Public Works Pension Funds, Scholarship Funds, etc.). Fiduciary funds are not
reflected in the government-wide financial statements because the resources of those funds are not
available to support the City’s own programs. The accounting used for fiduciary funds is much
like that used for proprietary funds.
Notes to Financial Statements
The notes provide additional information that is essential to a full understanding of the data
provided in the government-wide and fund financial statements.
Required/Other Supplementary Information
In addition to the basic financial statements and accompanying notes, this report also presents
certain required/other supplementary information concerning the City’s progress in funding its
obligation to provide pension and other post-employment (OPEB) benefits to its employees.
Financial Highlights
e The assets and deferred outflows of resources of the City exceeded its liabilities and deferred
inflows of resources at the close of fiscal year 2021 by $120.9 million, a decrease of $17.0
million or 12.3% as compared to the prior year. Net position of the City’s governmental activities
decreased by $19.9 million, which represents a decrease of 68.7% while the City’s business-type
activities net position increased by $2.9 million, or 2.7%.
e Asof the close of the current fiscal year, the City’s governmental funds reported combined ending
fund balances of $123.3 million, an increase of $10.9 million over the prior year.
¢ The City’s general fund revenue and other financing sources (uses) exceeded expenditures by $7.2
million. This is primarily due to motor vehicle permit revenues and intergovernmental revenues
exceeding revenue estimates for the year.
e At the end of the current fiscal year, unassigned fund balance for the general fund was $31.7
million, an increase of $1.0 million in comparison with the prior year.
e During fiscal year 2021, the City issued $47.8 million of new general obligation debt and direct
borrowings (including bond premiums).
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