I-1 - Preliminary Official Statement - UR Loan Agreement

GOVERNMENT-WIDE FINANCIAL ANALYSIS Net position may serve over time as a useful indicator of financial position. The City’s cash balance for governmental activities decreased from a year ago, decreasing from approximately $7.827 million to approximately $4.248 million. The analysis that follows focuses on the changes in cash basis net position of governmental activities. Changes in Cash Basis Net Position of Governmental Activities Year ended June 30, 2019 2018 Receipts: Program receipts: Charges for service $ 546,509 436,301 Operating grants, contributions and restricted interest 259,526 251,287 Capital grants, contributions and restricted interest 580,285 2,039,784 General receipts: Property tax 1,776,992 1,481,646 Tax increment financing 1,077,683 878,133 Commercial/industrial tax replacement 50,859 47,966 Unrestricted interest on investments 33,960 36,731 Bond proceeds - 6,062,040 Other general receipts 184,141 33,558 Total receipts 4,509,955 11,267,446 Disbursements: Public safety 398,275 318,613 Public works 394,219 323,392 Culture and recreation 241,250 235,183 Community and economic development 105,828 112,879 General government 417,120 381,028 Debt service 1,457,507 1,012,253 Capital projects 4,761,188 3,366,353 Total disbursements 7,775,387 5,749,701 Change in cash basis net position before transfers (3,265,432) 5,517,745 Transfers, net (313,290) 192 Change in cash basis net position (3,578,722) 5,517,937 Cash basis net position beginning of year 7,826,809 2,308,872 Cash basis net position end of year $ 4,248,087 7,826,809 Receipts by Source Disbursements by Function Community and economic General Unrestricted interest Culture and development government on investments Other general receipts recreation 1.0% 5.0% 1.0% 4.0% 3.0% Commercial/industrial Debt service Charges for service tax replacement Public works 19.0% 12.0% 1.0% 5.0% Operating grants, Tax increment financing contributions and Public safety 24.0% restricted interest 5.0% 6.0% Capital grants, contributions and restricted interest 13.0% Capital projects Property tax 39.0% 62.0% 10