Financial Condition

Revenue

For the fiscal year ending in 2017, total revenue for all funds equaled $23.16 million. The majority of revenue came from governmental funds, with 51%. The largest source of governmental revenue came from general funds.

Expenditures

For the fiscal year ending in 2017, Total expenditures for all funds equaled $22.79 million. The majority of expenses came from governmental funds, with 55%. The largest source of governmental expenditures came from general funds.

Fund Balance

For the fiscal year ending in 2017, unrestricted Net Position accounted for a majority of the fund balance for all funds. The City began the year with 7.8 million and ended with $8.2 million.

Balance Sheet

For fiscal year 2017, total assets equaled $50.8 million, while the city’s liabilities totaled $7.84 million. There were more deferred inflows than outlows, and the majority of assets and liabilities were non-current.

Other Increase & Decreases

For fiscal year 2017, the city had $4.25 million in transfers-in which was the majority of increases. Transfers-out accounted for 51% of the decreases.

Debt Service

For Fiscal Year 2017, the total debt service was $8.22 million. The city paid 61% in principal and 38% in interest. A majority of the debt repaid went towards cenralized/general services.