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CITY OF PEQUOT LAKES, MINNESOTA
<br /> MANAGEMENT'S DISCUSSION AND ANALYSIS
<br /> YEAR ENDED DECEMBER 31, 2014
<br /> FINANCIAL ANALYSIS OF THE CITY AS A WHOLE (CONTINUED)
<br /> Changes in Net Position (Continued)
<br /> Table A-3
<br /> Total and Net Cost of Services
<br /> Net(Revenue)Cost of
<br /> Total Cost of Services Percentage Providing Services Percentage
<br /> 2014 2013 Change 2014 2013 Change
<br /> GOVERNMENTAL ACTIVITIES
<br /> General Government $ 546,543 $ 490,702 11.4% $ 512,821 $ 454,291 12.9%
<br /> Public Safety 954,354 898,891 6.2 583,054 538,919 8.2
<br /> Highways and Streets 517,548 469,298 10.3 519,861 468,829 10.9
<br /> Sanitation 14,276 11,974 19.2 13,464 (4,889) 375.4
<br /> Culture and Recreation 79,609 52,915 50.4 (82,960) (11,526) (619.8)
<br /> Economic Development 93,743 104,538 (10.3) 79,519 90,313 (12.0)
<br /> Interest 25,458 14,357 77.3 25,458 14,357 77.3
<br /> Total $ 2,231,531 $ 2,042,675 9.2 $ 1,651,217 $ 1,550,294 6.5
<br /> FINANCIAL ANALYSIS OF THE CITY AT THE FUND LEVEL
<br /> The financial performance of the City is reflected in its governmental funds as well. As the City
<br /> completed the year, its governmental funds reported a combined fund balance of$2,186,761.
<br /> Revenues for the City's governmental funds were $2,282,084, while total expenditures were
<br /> $2,892,739.
<br /> The General Fund's fund balance decreased $33,793 from the prior year. This is due primarily to an
<br /> increase in capital outlay expenditures.
<br /> The Fire Fund's fund balance decreased $46,007 from the prior year, due primarily to an increase in
<br /> capital outlay expenditures.
<br /> The Business Park Fund's fund balance increased $20,838 from the prior year due to minimal business
<br /> park expenditures.
<br /> (12)
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