2024 Annual Comprehensive Report

Governmental

Business-Type

Activities

Activities

Total

2024

2023

2024

2023

2024

2023

(Continued)

Transfers

$ (17,092) $ (11,930) $ 17,092 $ 11,930$

$

Change in Net Position

9,169

81,214

8,647

21,668

17,816

102,882

Beg. Net Position

389,432 308,218

919,714 898,046

1,309,146 1,206,264

Ending Net Position

$ 398,601 389,432 $ $ 928,361 919,714 $ $ 1,326,962 1,309,146 $

Table A-3 Summary of Financing/Interest Earnings - Governmental Activities (In thousands of dollars)

FY 2024

FY 2023

$ Change

% Change

Interest Revenue Interest Expense

$

18,757 11,998

$

6,940

$

11,817

170.3% 17.7% 307.5%

10,198 (3,258)

1,800

Net

$

6,759

$

$

10,017

Summary of Financing/Interest Earnings - Business Activities (In thousands of dollars)

FY 2024

FY 2023

$ Change

% Change

Interest Revenue Interest Expense

$

13,455 14,358

$

6,041

$

7,414 2,341 5,073

122.7% 19.5% 84.9%

12,017 (5,976)

Net

$

(903)

$

$

A. Governmental Activities Governmental activities increased the City’s net position by approximately $9.2 million, compared to an approximate $81.2 million increase last year. Contributing to the increase was increases in property tax revenue, utility sales tax revenue, and investment income. The Internal Service Funds are combined with governmental activities at the entity-wide level.

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