6.4 SR 06-06-2022 - Laserfiche WebLink

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City of Elk River Management's Discussion and Analysis GOVERNMENT -WIDE FINANCIAL ANALYSIS (CONTINUED) Financial Analysis of the Government's Funds (Continued) Proprietary Funds. The City`s proprietary funds provide the same type of information found in the government -wide financial statements, but in more detail. Unrestricted net position of the enterprise funds at the end of the year amounted to $33,405,459. The total increase in net position for the funds was $4,212,202. General Fund Budgetary Highlights The City`s General Fund budget was not amended during the year. The budget called for no change in fund balance. The General Fund had an actual increase of $499,901 in 2021. Some of the larger variances are as follows: • Revenues were over budget by $480,592 with license and permit revenue being over budget by $237,029. Charges for services were over budget by $127,455. • Expenditures were under budget by $330,900, in part due to public safety being under budget by $104,938 based on salaries and benefits coming in under anticipated amounts. Capital Asset and Debt Administration Capital Assets. The City`s investment in capital assets for its governmental and business -type activities as of December 31, 2021, amounts to $262,906,392 (net of accumulated depreciation). This investment in capital assets includes land, structures, improvements, machinery and equipment, park facilities, roads, highways and bridges. Major capital asset events during the current fiscal year included the following: • Construction in progress on the public safety facility • Construction in progress on Fire Station #3 • Construction in progress on Orono Park • Energy upgrades (air handling, boiler, lighting) • Purchases of vehicles • Purchases of radios and ancillary equipment • Various street improvement projects 30