Property taxes increased by approximately $893,000 from FY12 due to increased taxable valuations. FEMA grants for property buyouts related to the 2008 Flood received in FY12, caused capital grants and contributions to decreasefor FY1 3.
INDIVIDUAL MAJOR FUND ANALYSIS Governmental Fund Highlights
As of the end of the current fiscal year, the City's governmental funds reported combined ending fund balances of $64,696,852. $548,225 is nonspendable for inventory. $25,435,109 is restricted for TlF, debt service, road use tax funds, local option sales tax, employee retirement systems, bond proceeds and various grants. $16,551,115 is committed for the City's health trust fund and parking fund. $16,376,887 is assigned for recreational capital funds, police forfeiture funds, economic development and capital improvements. Thís leaves $5,785,516 for unassigned fund balances in the governmental funds.
The Governmental fund balances increased by $4,880,073, or 8.160/0. This increase was due in part to the increase in the FEMA Fund.
The General Fund is the chief operating fund of the City of Cedar Falls. At the end of the current fiscal year, unassigned fund balance of the General Fund was $6,978,807, while the total fund balance totaled $9,037,503. As a measure of the General Funds liquidity, it may be useful to compare both unreserved fund balances and total fund balances to total fund expenditures. Unassigned fund balance represents 33.51% of the total General Fund expenditures, while the total fund balance represents 43.39% of that same amount.
The following fund balances in the other major funds, which comprise the Total Governmental Funds are listed below: FY13
Amount
Hospital Fund TIF Fund Street Repair Fund Street Construction Fund Debt Service Fund FEMA Fund Bond Fund Other Governmental Funds
$
15,718,951 $ 15,435
12,609,671 6,012,776 318,846 (529,170) (644,688) 22,157,628
Amount (Decrease) FY12
15,274,921 19,202
13,671,249 5,121,413 261,976
(4,278,871) (48,808) 20,846,343
lncrease
$ 443,930 (3,767)
(1,061,578) 891,363 56,970
3,749,701 (595,880) 1,311,285
The FEMA Fund had the largest increase in fund balance due to the reimbursements received for projects related to the 2008 Flood.
The Street Repair Fund had a decrease in fund balance due to many projects being able to be completed during FY13 The Hospital Fund had an increase in fund balance due to the fewer projects being funded by the Health Trust Board
The Street Construction Fund had an increase in fund balance due to the increase in road use taxes received. Road use tax funds have increased due to the population increase in Cedar Falls which causes the formula to be revised.
23
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108 |
Page 109 |
Page 110 |
Page 111 |
Page 112 |
Page 113 |
Page 114 |
Page 115 |
Page 116 |
Page 117 |
Page 118 |
Page 119 |
Page 120 |
Page 121 |
Page 122 |
Page 123 |
Page 124 |
Page 125 |
Page 126 |
Page 127 |
Page 128 |
Page 129 |
Page 130 |
Page 131 |
Page 132 |
Page 133 |
Page 134 |
Page 135 |
Page 136 |
Page 137 |
Page 138 |
Page 139 |
Page 140 |
Page 141 |
Page 142 |
Page 143 |
Page 144 |
Page 145 |
Page 146 |
Page 147 |
Page 148 |
Page 149 |
Page 150 |
Page 151 |
Page 152 |
Page 153 |
Page 154 |
Page 155 |
Page 156 |
Page 157 |
Page 158 |
Page 159 |
Page 160