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<br />Key elements of the relevant changes are as follows:
<br />City of F1k River Changes in Net Assets
<br />Governmental
<br />Activities
<br />Business-type
<br />Activities Total
<br /> 2010 2009 2010 2009 2010 2009
<br />Revenues:
<br />Progam revenues:
<br />Charges for services $ 2,300,004 $ 2,150,803 $37,439,166 $35,270,716 $ 39,739,170 $ 37,421,519
<br />Operatinggants and contributions 763,551 758,958 103,324 92,957 866,875 851,915
<br />Capital gants and contributions 1,318,660 2,599,593 480,325 267,233 1,798,985 2,866,826
<br />General revenues:
<br />Property taxes 12,325,851 12,521,]33 - - 12,325,851 12,521,133
<br />Other taxes 193,466 156,894 - - 193,466 156,894
<br />Grants and contributions not
<br />restricted to specific progams 2,000,923 1,940,274 - - 2,000,923 1,940,274
<br />Unrestricted investment earnings 359,733 548,651 220,602 367,883 580,335 916,534
<br />Gain on disposal of capital assets 61,308 20,013 - - 61,308 20,013
<br />Total revenues 19,323,496 20,696,319 38,243,417 35,998,789 57,566,913 56,695,108
<br />Expenses
<br />General government 3,028,102 2,777,568 - - 3,028,102 2,777,568
<br />Public safety 6,011,477 6,106,181 - - 6,011,477 6,106,181
<br />Public works 5,447,282 5,397,058 - - 5,447,282 5,397,058
<br />Culture and recreation 3,702,671 3,767,312 - - 3,702,671 3,767,312
<br />Economic development 1,438,742 1,569,432 - - 1,438,742 1,569,432
<br />Interest on long-term debt 1,085,149 1,252,493 - - 1,085,149 1,252,493
<br />Municipalliquor - - 5,267,455 5,374,867 5,267,455 5,374,867
<br />Garbage - - 1,331,514 1,256,177 1,331,514 1,256,177
<br />Sewer - - 1,965,055 1,784,428 1,965,055 1,784,428
<br />Water - - 2,100,552 2,348,707 2,100,552 2,348,707
<br />Electric - - 25,455,516 23,269,553 25,455,516 23,269,553
<br />Totalexpenses 20,713,423 20,870,044 36,120,092 34,033,732 56,833,515 54,903,776
<br />Increase (decrease) in net
<br />assets before transfers (1,389,927) (173,725) 2,123,325 1,965,057 733,398 1,791,332
<br />Transfer of capitalassets (303,051) - 303,051 - - -
<br />Transfers 958,389 1,045,002 (958,389) (1,045,002) - -
<br />Chang in net assets (734,589) 871,277 1,467,987 920,055 733,398 1,791,332
<br />Net assets -beginning 119,460,751 118,589,474 80,366,529 79,446,474 ]99,827,280 198,035,948
<br />Net assets -ending $ 118,726,162 $ 119,460,751 $81,834,516 $80,366,529 $200,560,678 $199,827,280
<br />• Local Government Aid and Market Value Homestead Credit decreased by approximately $680,000 due to aid
<br />cuts by the State.
<br />• Special assessments levied in 2010 were about $465,000 lower than in 2009 due to a decrease in development
<br />activity.
<br />• Investment income decreased by $189,000 due to market rate conditions.
<br />• For the most part, decreases in expenses were due to sound fiscal control by city departments.
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