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CITY OF PEQUOT LAKES, MINNESOTA <br />MANAGEMENT’S DISCUSSION AND ANALYSIS <br />DECEMBER 31, 2019 <br /> <br /> <br />10 <br />THE CITY’S FUNDS (Continued) <br /> <br />General Fund Expenditures <br /> General Government <br /> Public Safety <br /> Public Works <br /> Parks and Recreation <br /> Economic Development <br /> Debt Service <br /> Capital Outlay <br /> <br />A significant portion of the City’s General Fund expenditures were used for public safety (40.41 percent). Remaining <br />expenditures are used primarily for general government operations (21.80 percent), capital outlay (16.66 percent), and public <br />works (16.07 percent). Expenditures are comparable to the prior year, with the exception of expenditures incurred in the prior year <br />for capital projects such as the maintenance department facility. <br /> <br />Increase <br />2019 2018 (Decrease) <br />Fund Balance December 31, <br />Major Fund <br />Fire Department Fund 151,088$ 124,244$ 26,844$ <br /> <br />The Fire Department fund balance increased primarily as a result of decreases in capital outlay and other expenditures in the <br />current year. <br /> <br />Highway 371 Project Fund 5,478,312$ 5,311,231$ 167,081$ <br /> <br />The Highway 371 Project fund balance increased as a result of revenues from property taxes and investment income being in <br />excess of expenditures in the current year. <br /> <br />General Fund Budgetary Highlights <br />The City’s General Fund generated more revenue than budgeted by $15,653, excluding budgeted transfers in from other funds and <br />anticipated bond proceeds. Expenditures were less than budgeted by $5,210,035, as a result of significant expenditures budgeted <br />for a capital project that was postponed until 2020.