MANAGEMENT'S DISCUSSION AND ANALYSIS
Our discussion and analysis of the City of Cedar Falls' financial performance provides an overview of the City's financial activities for the fiscal year ended June 30, 2013. Please read it in conjunction with the transmittal letter found on pages 1
- 10 of this report.
2013 FINANCIAL H¡GHLIGHTS year 2013. Property taxes increased $893,816 for all activities.
from fiscal year 2012. Public Safety expenses increased by $t,029,534 and Public Works expenses decreased by $1,061,71 0.
amount, the net position of the governmental activities increased by $8,113,574 and the net position of the business-type activities increased by $3,804,534.
USING THIS ANNUAL REPORT The annual report consists of a series of financial statements and other information as follows:
o Management's Discussion and Analysis introduces the basic financial statements and provides an analytical overview of the City's fínancial activities.
o Government-wide Financial Statements consist of a Statement of Net Position and a Statement of Activities. These provide ínformation about the activities of the City as a whole and present an overall view of the City's finances.
a
The Fund Financial Statements tell how governmental activities were financed in the short term as well as what remains for future spending. Fund fínancial statements report the City's operations in more detail than the government-wíde statements by providing information about the City's most significant funds.
a
Notes to Financial Statements provide additional information essential to a full understanding of the data provided in the basic financial statements.
a
Required Supplementary lnformation further explains and supports the financial statements with a comparison of the City's budget for the year.
a
Other Supplementary lnformation provides detailed information about the nonmajor Special Revenue and Capital Projects Funds and the lnternal Service Funds.
REPORTING THE CITY'S FINANCIAL ACTIV¡TIES
Government-wide Financial Statements One of the most important questions asked about the City's finances is, "ls the City of Cedar Falls in a better financial position at the end of the fiscal year, compared to last year?" The Statement of Net Position and the Statement of Activities report information about the City as a whole and about its activities in a way that helps answer this question. These statements include all assets and liabilities using the accrual basis of accounting, which is similar to the
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