Analysis of Financial Position and Operations

The following is an overview of the City’s financial position and operations for the fiscal year ended December 31, 1999 covering governmental funds. This data is compiled from the City’s Comprehensive Annual Financial (CAFR), which is published separately. The CAFR can be obtained by request from the Auditor’s Office. The CAFR includes more detailed information on the funds and account groups than are included here. The City’s General Purpose Financial Statements contained within the CAFR received an unqualified opinion from the Independent Auditor. An unqualified opinion is given when the auditor can state that the financial statements are fairly presented.

Governmental Funds
Most city services and projects are provided through the governmental funds, which are funded through taxes and intergovernmental revenues.

Definitions of the governmental funds included in the analyses are:

General Fund- accounts for revenues and expenses associated with the general governmental operations of the City that are not required to be accounted for in other funds.
Special Revenue Funds- accounts for proceeds of specific revenue sources (other than major capital projects) that are restricted by law and administrative action for specified purposes. (e.g., street fund, recycling).
Debt Service Funds- accounts for the revenues and expenses dedicated to the payment of general long-term and special assessment principal, interest and related costs.
Capitol Project Funds- accounts for financial resources used for the construction or acquisition of major capital facilities.

Revenue Mix

Revenue in the General Fund comes from several different sources. The chart below shows proportionately how the 1999 General Fund Revenue Mix appears.

Revenue Mix
$ 538,361.00	Taxes	21%
$ 129,021.00	Charges for services	5%
$ 190,701.00	Fines, Licenses, and Permits	7%
$ 616,798.00	Intergovernmental	24%
$ 842,483.00	Interest	32%
$ 299,423.00	Other	11%
$ 2,616,787.00

General Govt.	$ 1,257,391.00	39%
Security	$ 1,838,655.00	57%
Public H & W	$ 31,971.00	1%
Comm. Env.	$ 121,257.00	4%
Other	$ 4,950.00	0%

Total	$ 3,254,224.00

Property Taxes

Property taxes are based upon the County Auditor’s Assessed Value of Real Property. The Assessed Value of property in the Amherst Area has shown a consistent upward growth. The following chart shows that growth for the past nine years.

Assessed Value Trend

Year	Assessed Value
1990	$ 95,617,340.00
1991	$ 111,991,810.00
1992	$ 115,991,810.00
1993	$ 115,034,250.00
1994	$ 119,020,100.00
1995	$ 135,840,110.00
1996	$ 143,163,470.00
1997	$ 148,646,190.00
1998	$ 181,472,120.00
1999	$ 191,456,420.00

New Construction

The upward trend in assessed value is largely a result of new construction. Most of the new construction has come in the residential sector, although there has been some Commercial/Industrial growth.

New Construcion

Year	Residential	Commercial Industrial	Total New Construction
1993	$ 11,220,000.00	$ 4,290,000.00	$ 15,510,000.00
1994	$ 14,131,800.00	$ 7,115,000.00	$ 21,246,800.00
1995	$ 11,736,877.00	$ 7,161,000.00	$ 18,897,877.00
1996	$ 12,362,892.00	$ 7,855,000.00	$ 20,217,892.00
1997	$ 9,228,019.00	$ 4,170,000.00	$ 13,398,019.00
1998	$ 10,253,228.00	$ 4,099,000.00	$ 14,352,228.00
1999	$ 21,437,589.00	$ 3,365,695.00	$ 24,803,284.00