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❖ Charges for services were 98.5% of total revenues. Each business-type activity charges for the specific products <br /> and/or services for which the activity was established. The major revenues for 2009 were, water service fees <br /> $1,084,440,and sewer and refuse collection fees$359,752. <br /> The total expenses for combined governmental and business-type activities were made up of$2,741,475 of expenses for <br /> governmental activities and $1,298,445 of expenses for business-type activities. Of the total expenses, 64.7% were for <br /> governmental activities and 35.3%for business-type activities. <br /> • The percentage of Town expenses for each type of governmental activity is: <br /> ❖ 35.8%—Governmental <br /> ❖ 35.5%—Public Safety <br /> ' • 14.4%—Public Works <br /> ❖ 12.9%—Recreation and Culture <br /> ❖ 1.4%—Cemetery <br /> • The percentage of total Town expenses for each business-type activity is: <br /> ❖ 71.5%—Water Utility <br /> ' ❖ 28.5%—Sewer Utility&Refuse Collection <br /> ' FINANCIAL ANALYSIS OF THE TOWN'S FUNDS <br /> As mentioned earlier,The Town of Palisade uses fund accounting to ensure and demonstrate compliance with finance-related legal <br /> requirements. <br /> ' Governmental Funds.The focus of the Town's governmental funds is to provide information on near-term inflows,outflows,and <br /> balances of spendable resources. Such information is useful in assessing the Town's financing requirements. In particular, <br /> ' unreserved fund balance may serve as a useful measure of a government's net resources available for spending at the end of the <br /> year. <br /> As of the end of 2009, the combined ending fund balances of the Town of Palisade's governmental funds were $2,557,553. <br /> Approximately 94%of this consists of unreserved fund balance, which is available as working capital and for current spending in <br /> accordance with the purposes of the specific funds. The remainder of fund balance is reserved to indicate that it is not available for <br /> new spending because it is committed for the following purposes: (1) Reserved for emergencies $100,927, (2) Reserved for fire <br /> expenditures$65,025. <br /> The Town has one major governmental fund:the General Fund <br /> Il. General Fund <br /> The fund balance of the general fund was$2,531,107 at December 31,2009. Approximately 93%of the total balance was <br /> unreserved. A portion of the remainder, $100,927, was reserved for emergencies in compliance with Title-X of the <br /> Colorado constitution. <br /> The unreserved fund balance is available for working capital and to be used for subsequent operations. Working capital <br /> includes existing investments in; pre-paid expenses, various accruals and for immediate cash disbursements in the <br /> ' subsequent period. <br /> Most of the ratios that are used to aid in the financial analysis of business organizations provide only very limited <br /> information in an analysis of any governmental type fund; however, governmental funds that are in severely bad liquidity <br /> condition can often be recognized by such an analysis. Therefore, the following items and relationships are presented for <br /> the Town of Palisade's general fund at December 31,2009: <br /> 7 <br />