Statement of Cash Flows

MANAGEMENT’S DISCUSSION AND ANALYSIS (UNAUDITED) DECEMBER 31, 2020

The General Fund is the main operating fund of the City . At December 31, 2020, the non-spendable fund balance was $563,000, the restricted fund balance was $3,273,000, the assigned fund balance was $2,698,000, and the unassigned fund balance was $41,077,000 . The total fund balance increased $1,828,000 in 2020 to $47,611,000 . On a budgetary basis, the General Fund finished over $11,705,000 to the good overall . The increase in total fund balance is due to a decrease in transfers to the capital projects funds for construction, an increase in sales and use tax revenue and an increase in property tax revenues .

The Community Development Fund is a major fund of the City . At December 31, 2020, the restricted fund balance was $2,646,000 and the assigned fund balance was $3,415,000 . Total fund balance increased $543,000 in 2020 to $6,061,000 . The increase was due to the repayment of an outstanding notes receivable .

The Parks Fund is a major fund of the City . At December 31, 2020, the non-spendable fund balance was $28,000 the restricted fund balance was $172,000 and the assigned fund balance was $5,856,000 . The total fund balance decreased $45,000 in 2020 to $6,056,000 . This decrease is primarily due to not collecting entry fees to the Arvada Reservoir in 2020, due to the COVID 19 pandemic the City made the decision to allow access to the reservoir free of charge in 2020 .

The General Capital Projects Fund is another major fund of the City . At December 31, 2020, the restricted fund balance was $7,037,000, the committed fund balance was $24,752,000 and the assigned fund balance was $2,584,000 . The total fund balance decreased $1,162,000 in 2020 to $34,373,000 . The decrease is due to increased expenditures primarily for the new Parks Maintenance building .

The Construction Fund is another major fund of the City . At December 31, 2020 the restricted fund balance was $72,829,000 . Total fund balance decreased $6,181,000 in 2020 to $72,289,000 . This fund accounts for the 2019 Sales and Use Tax revenue bond issuance for two street improvement construction projects, these projects are now incurring expenditures as these projects move forward into construction .