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<br />MAY-23-2003 15:13 <br /> <br />763 569 5799 <br /> <br />763 569 5799 <br /> <br />P.06/19 <br /> <br />FINANCIAL ANALYSIS (Continued) <br /> <br />General Fund expenditures decreased 3% from $5,819,979 in 2001 to $5,645,529 in 2002. An <br />expenditure allocation by function for 2002 is illustrated below. <br /> <br />Expenditures by function remained consistent when compared to 2001, with only a 1 % shift <br />between Public Works and General Government. <br /> <br />The General Fund expenditures for 2002 are depicted in the following pie chart: <br /> <br />2002 General Fund Expenditures <br /> <br />Mí£cøllaneous <br />7% <br /> <br />General Government <br />24% <br /> <br />Public Works <br />24% <br /> <br /> <br />Public Safety <br />45% <br /> <br />Overall, General Fund baJance declined $205,631 or 5%. After taking into account revenues, <br />expenditures and operating transfers, the increase in fund balance would have been $1,220,207. <br />However, the City established an internal service fund in 2002 to fund its retiree health insurance <br />obligations. This fund was started with a capital contribution from the General Fund <br />of $1,425,838. <br /> <br />4 <br />