2008 Annual Comprehensive Financial Report

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The Conservation Trust -Land Acquisition Fund balance increased by $519,878. Fund revenue exceeded budget by over 17% and expenditures were under budget by 13 The Capital Projects Fund balance increased by $1,093,529. Total expenditures for capital projects came in under budget by 60% due to unfinished projects. Capital projects totaled $3.2 million for the property acquisition, street improvements, Recreation Center improvements, and parks. General Fund Budgetary Highlights General Fund revenue exceeded budget by approximately $146,451, or approximately 1 Sales tax collections exceeded budget by $209,859 (4 but use tax came in below budget by $164,020 (17 Franchise tax exceeded budget by $148,519 (15 Licenses and permits came in below budget by $100,409 due to slowdowns in residential and commercial construction. Total General Fund expenditures, including inter -fund transfers, were under budget by $480,164 (3.5 Capital Asset and Debt Administration Capital Assets At the end of 2008 the City had invested $232.3 million (Figure 7) in a broad range of capital assets, including land, streets, and utility infrastructure. Net of accumulated depreciation, the City assets total $162.0 million. Figure 7 Net Change in Capital Assets Rmillions} Total Additional information on the City's capital assets can be found in Note 7 to the financial statements. 18 Governmental Business -type Of Activities Activities Total Change 2008 2007 2008 2007 2008 2007 2008 -2007 Land CIP 30.6 29 -0 4 -3 4.3 34.9 33.3 4.8% Water Rights 30 -4 30.4 30.4 30.4 0 -0% Buildings 19.1 19 -0 1.1 1.1 202 20.1 0 -6% Infrastructure 73.7 712 62 -4 61.8 136.1 133.0 2.3% Machinery Equipment 7.4 7.5 3 -3 32 10.7 10.7 0.0% Total $130.8 $126.7 $101.5 $100.8 232.3 227.5 2.1% Additional information on the City's capital assets can be found in Note 7 to the financial statements. 18