Item 3C: Adoption of Resolution Acknowleding CAFR

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. Proprietary funds The City’s proprietary fund statements provide the same type of information found in the government-wide financial statements, but in more detail. Unrestricted net assets and its percent to total net assets of each proprietary fund are as follows: $ (0.1) million (-18.1%) Ambulance Transport 3.6 million (4.3%) Municipal Airport 0.2 million (1.2%) Parking Services 7.4 million (13.8%) Stormwater Utility 2.7 million (2.7%) Wastewater Utility Total business-type net assets decreased $1.5 million in the current fiscal year. Significant issues regarding proprietary funds are as follows: The Ambulance Transport Fund reported a $0.8 million decrease in net assets. The decrease was mainly due to a $0.4 million increase in vehicle maintenance and replacement costs, a $0.1 million increase personnel costs, and a $0.1 million decrease in operating revenues. The Municipal Airport Fund reported a $0.3 million decrease in net assets. The decrease was mainly due to $3.2 million in operating losses that were offset by $2.8 million in capital contributions. The Parking Services Fund reported a $0.7 million decrease in net assets. The decrease was primarily the result of a $0.4 million decrease in operating revenues. The Stormwater Utility Fund reported a $1.7 million increase in net assets. The increase was principally due to capital contributions of $1.0 million from developers for stormwater improvements, $0.4 million in operating income, and $0.2 million in interest revenue. The Wastewater Utility Fund reported a $1.3 million decrease in net assets. The decrease was mainly due to $2.7 million in operating losses that were offset by $1.2 million in capital contributions for wastewater improvements and infrastructure. Other factors concerning the finances of proprietary funds can be found in the previous discussion of the City’s business-type activities. General Fund Budgetary Highlights The City’s final budget differs from the original budget in that it contains carry-forward appropriations for various programs and projects, and supplemental appropriations approved during the fiscal year. The final fiscal year 2009 budget for the General Fund was increased by $5.8 million. The primary reasons for this increase are as follows: $3.1 million increase to police, including $0.9 million for grant-funded activities, $0.8 million in carry-forward appropriations, $0.5 million for staffing costs for the 2008 U.S. Olympic Track and Field Trials, and $0.5 million in reimbursements for fire dispatch services. $0.8 million increase to planning and development, including $0.3 million for a comprehensive land study and $0.2 million for the Neighborhood Initiative program. $0.8 million increase to central services, including $0.4 million in carry-forward appropriations and $0.2 for equipment replacement. $0.4 million increase to fire and emergency medical services, including $0.2 million for grant funded- activities and $0.1 million for staffing costs for the 2008 U.S. Olympic Track and Field Trials. These changes were funded primarily by an increase of $1.2 million in intergovernmental revenues and $3.8 million in unspent resources from the prior year. The net increase of $2.0 million in budget-basis fund balance for the year ended June 30, 2009 was a significant improvement over the projected deficit of $6.7 million in the General Fund final amended budget. Actual revenues were $1.7 million lower than budget, primarily due to charges for services and intergovernmental revenues that were $0.8 million and $0.7 million, respectively below budget projections. On the expenditure side, departments under-spent their budgets by a total of $9.5 million. The significant changes were in Police ($3.6 million), Central Services ($1.8 million), and Library, Recreation, and Cultural Services ($1.6 million).