04012008 Regular Meeting - Laserfiche WebLink

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The most significant governmental expense for the City was in providing for government, which incurred expenses of $13.8 million. These expenses were offset by revenues collected from a variety of sources, with the largest being from taxes and intergovernmental, which were $44.4 million for the fiscal year ending September 30, 2007. The major components of public safety are police and fire. Police accounted for $9.1 million in public safety expense of which $8.2 million was incurred for salary and benefits. Fire accounted for $3.5 million in public safety expense, of which $3.3 million was incurred for salary and benefits. Business -type activities. Revenues of the City's business -type activities were $76.7 million for the fiscal year ending September 30, 2007. Expenses for the City's business -type activities were $65.0 million for the year, resulting in a net increase in net assets of $11.7 million. The net revenues are the result of several factors, including the following: • The City's Water and Wastewater System recorded charges for services of $24.1 million, which exceeded operating expenses of $17.8 million. The most significant expenses of the Water and Wastewater Fund were $5.3 million for contracted services for the operation of the surface water treatment plant, and $2.0 million in salaries and benefits. • The City's Electric distribution system recorded charges for services of $45.0 million, which exceeded operating expenses of $40.1 million. The most significant expense of the Electric Fund was $29.6 million for the purchase of power. Governmental and business -type activities increased the City's net assets (Table 2) by $22.8 million. 7