Financial Analysis of the City’s Funds
As noted earlier, the City uses fund accounting to ensure and demonstrate compliance with finance-
related legal requirements.
Governmental Funds
The focus of the City’s governmental funds is to provide information on near-term inflows,
outflows, and balances of spendable resources. Such information is useful in assessing the City’s
financing requirements. In particular, unassigned fund balance may serve as a useful measure of a
City’s net resources available for spending at the end of the fiscal year.
As of the end of the current fiscal year, the City’s governmental funds reported combined ending
fund balances of $123.3 million, representing an increase of $10.9 million over the prior year and
summarized as follows (in thousands):
The components of fund balance for all governmental funds are as follows (in thousands):
Nonspendabk $ 28,536
Restricted 19,961
Committed 41,936
Assigned 17,188
Unassigned 15,636
Total $ 123,257
Unassigned fund balance represents $15.6 million or 12.7% of the total combined ending
governmental fund balances. The remaining components of fund balance, $107.6 million, are not
available for new spending.
GOVERNMENTAL FUNDS
FUND BALANCES
Fiscal Year Ended June 30, 2021
Unassigned
| 12.78
Nonspendable
23.2%
Restricted
16,2%
Committed
34.0%
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