Fund Balance – Budget and Actual

MANAGEMENT’S DISCUSSION AND ANALYSIS (UNAUDITED) DECEMBER 31, 2021

The General Fund is the main operating fund of the City . At December 31, 2021, the non-spendable fund balance was $578,000, the restricted fund balance was $3,311,000, the assigned fund balance was $1,312,000, and the unassigned fund balance was $57,388,000 . The total fund balance increased $14,978,000 in 2021 to $62,589,000 . On a budgetary basis, the General Fund expenditures finished over $31,019,000 to the good overall . The increase in total fund balance is primarily due to an increase in sales and use tax revenues .

The Community Development Fund is a major fund of the City . At December 31, 2021, the restricted fund balance was $2,081,000 and the assigned fund balance was $4,205,000 . Total fund balance increased $225,000 in 2021 to $6,286,000 . The increase was due to additional grant funding for emergency rental assistance and fewer expenditures for essential home repairs .

The Parks Fund is a major fund of the City . At December 31, 2021, the non-spendable fund balance was $28,000 the restricted fund balance was $208,000 and the assigned fund balance was $6,504,000 . The total fund balance increased $684,000 in 2021 to $6,740,000 . The increase is due to an increase in Jefferson County Open Space revenues .

The General Capital Projects Fund is another major fund of the City . At December 31, 2021, the restricted fund balance was $17,552,000, the committed fund balance was $17,654,000 and the assigned fund balance was $13,188,000 . The total fund balance increased $14,021,000 in 2021 to $48,394,000 . This increase is due to an increases in contributions for the Sabell’s development located at W 58th Ave and Ward Road area and a contribution for street-scaping work along Ralston Road from Yukon Street to Garrison Street . There was also a decrease in expenditures in 2021 due to the completion of some large projects in 2020 such as the construction of a new Parks Maintenance building and Ralston Road from Webster Street to Yukon Street .

The Construction Fund is another major fund of the City . At December 31, 2021 the restricted fund balance was $80,796,000 . Total fund balance increased $7,967,000 in 2021 to $80,796,000 . This fund accounts for the 2019 Sales and Use Tax revenue bond issuance for two street improvement construction projects and 2021 COP issuance for the Meyers Pool Replacement project . Proceeds for the 2021 COP issuance of $17,605,000 are included in this fund . There was an increase in expenditures in 2021 as the two street improvement projects are moving forward with construction which will continue for the next few years .