By Aberdeen Insider - September 26, 2024 in CITY OF ABERDEEN
ANNUAL REPORT
AS OF AND FOR THE YEAR ENDED DECEMBER 31, 2023
GOVERNMENTAL FUNDS–MODIFIED ACCRUAL BASIS
General Fund; Parks and Recreation Fund; Airport Fund; Special Sales Tax Fund; Other Governmental Funds; Total Governmental Funds
Beginning Balance; 16,267,776; 589,912; 3,082,987; 5,966,579; 6,089,086; 31,996,340
Revenues and Other Sources:
Taxes:
Property Taxes: 10,932,481; 0; 0; 0; 2,091,388; 13,023,869
Airflight Property Tax: 0; 0; 27,086; 0; 0; 27,086
General Sales and Use Taxes: 10,994,811; 0; 0; 10,656,823; 1,299,552; 22,951,186
Tax Deed Revenue: 4,583; 0; 0; 0; 0; 4,583
Penalties and Interest on Delinquent Taxes: 27,959; 0; 0; 0; 2,974; 30,933
Licenses and Permits: 540,236; 210; 0; 0; 0; 540,446
Intergovernmental Revenues:
Federal Grants: 873,464; 2,500; 6,756,367; 0; 68,000; 7,700,331
State Grants: 80,105; 20,000; 247,744; 1,039,140; 0; 1,386,989
State Shared Revenue: 1,315,045; 0; 0; 0; 0; 1,315,045
State Payments in Lieu of Taxes: 9,532; 0; 0; 0; 0; 9,532
County Shared Revenue: 29,794; 0; 0; 0; 0; 29,794
Charges for Goods and Services:
General Government: 42,882; 0; 0; 0; 0; 42,882
Public Safety: 153,487; 0; 0; 0; 0; 153,487
Highways and Streets: 164,240; 0; 0; 0; 0; 164,240
Sanitation: 1,559,132; 0; 0; 0; 592,827; 2,151,959
Health: 2,637; 68,707; 0; 0; 0; 71,344
Culture and Recreation: 14,334; 664,807; 0; 0; 22,407; 701,548
Ambulance: 1,249,007; 0; 0; 0; 0; 1,249,007
Cemetery: 0; 78,575; 0; 0; 0; 78,575
Other: 176,408; 0; 555,351; 0; 0; 731,759
Fines and Forfeits:
Court Fines and Forfeits: 3,315; 0; 0; 0; 0; 3,315
Fines: 0; 0; 0; 0; 2,630; 2,630
Miscellaneous Revenue and Other Sources:
Investment Earnings: 618,137; 0; 140,468; 202,478; 178,669; 1,139,752
Rentals: 164,809; 2,710; 0; 0; 0; 167,519
Contributions and Donations from Private Sources: 142,041; 52,500; 0; 0; 509,791; 704,332
Other Revenues: 524,776; 8,634; 990; 0; 0; 534,400
Sale of Municipal Property: 214,250; 0; 0; 0; 0; 214,250
Compensation for Loss or Damage to Capital Assets: 31,585; 30,455; 12,688; 0; 6,028; 80,756
Total Revenue and Other Sources: 29,869,050; 929,098; 7,740,694; 11,898,441; 4,774,266; 55,211,549
Expenditures and Other Uses:
Legislative: 152,364; 0; 0; 0; 0; 152,364
Executive: 340,209; 0; 0; 0; 0; 340,209
Financial Administration: 1,233,197; 0; 0; 0; 0; 1,233,197
Other General Government: 2,069,125; 0; 0; 0; 0; 2,069,125
Police: 6,265,454; 0; 0; 0; 0; 6,265,454
Fire: 6,051,353; 0; 0; 0; 0; 6,051,353
Protective Inspection: 235,702; 0; 0; 0; 0; 235,702
Other Protection: 0; 0; 0; 450,000; 0; 450,000
Highways and Streets: 3,791,780; 0; 0; 7,691,416; 190,955; 11,674,151
Sanitation: 1,637,362; 0; 0; 776,070; 588,300; 3,001,732
Airport: 0; 0; 8,003,635; 0; 0; 8,003,635
Parking Facilities: 0; 0; 0; 0; 10,343; 10,343
Cemeteries: 0; 354,324; 0; 0; 80,010; 434,334
Transit: 1,162,546; 0; 0; 0; 0; 1,162,546
Health: 0; 310,722; 0; 0; 0; 310,722
Other Health and Welfare: 6,000; 82,148; 0; 0; 0; 88,148
Recreation: 0; 3,349,942; 0; 0; 0; 3,349,942
Parks: 0; 2,954,411; 0; 0; 1,242,615; 4,197,026
Libraries: 1,342,665; 0; 0; 0; 10,701; 1,353,366
Economic Development and Assistance: 449,515; 0; 0; 0; 1,174,833; 1,624,348
Economic Opportunity: 0; 0; 0; 315,000; 0; 315,000
Debt Service: 123,262; 0; 0; 0; 3,079,589; 3,202,851
Intergovernmental Expenditures: 0; 0; 0; 0; 600; 600
Total Expenditures and Other Uses: 24,860,534; 7,051,547; 8,003,635; 9,232,486; 6,377,946; 55,526,148
Transfers In: 908,253; 5,958,810; 731,500; 50,000; 2,151,049; 9,799,612
Transfers (Out): (5,823,800); 0; 0; (4,150,127); (569,421); (10,543,348)
Increase/Decrease in Fund Balance: 92,969; (163,639); 468,559; (1,434,172); (22,052); (1,058,335)
Ending Fund Balance:
Nonspendable: 0; 70,131; 84,501; 0; 73,169; 227,801
Restricted: 9,340; 356,142; 3,467,045; 0; 6,016,296; 9,848,823
Committed: 5,407,386; 0; 0; 4,532,407; 0; 9,939,793
Assigned: 514,850; 0; 0; 0; 0; 514,850
Unassigned: 10,429,169; 0; 0; 0; (22,431); 10,406,738
Total Ending Fund Balance: 16,360,745; 426,273; 3,551,546; 4,532,407; 6,067,034; 30,938,005
Governmental Long-term Debt: 22,290,440
PROPRIETARY FUNDS–ACCRUAL BASIS
Water Fund; Sewer Fund; Nonmajor Proprietary Funds; Internal Service Funds
Beginning Balance: 26,512,946; 25,765,940; 3,880,761; 972,975
Revenues: 7,883,734; 5,278,945; 2,249,262; 2,466,050
Expenses: 6,498,759; 3,810,941; 2,042,633; 2,522,755
Transfers In : 1,000,000; 74,264; 835,336; 0
Transfers (Out): (722,492); (215,380); (137,455); 0
Ending Balance:
Net Investment in Capital Assets: 21,602,032; 26,877,002; 2,535,797; 0
Restricted for revenue bond debt service: 113,611; 1,503,191; 0; 0
Restricted for SDRS pension purposes: 129,542; 88,451; 18,163; 0
Unrestricted: 6,330,244; (591,078); 1,356,036; 916,270
Total Ending Balance: 28,175,429; 27,877,566; 3,909,996; 916,270
Long-term Debt: 3,770,939; 3,580,597; 123,444; 0
The preceding financial data does not include fiduciary funds or component units. Information pertaining to those activities may be obtained by contacting the municipal finance officer at (605)-626-7026. Full financial report is available on the City of Aberdeen website https://aberdeen.sd.us/Archive.aspx?AMID=36.
Municipal funds are deposited as follows:
Depository Amount:
Dacotah Bank 10,960,249
First Interstate Bank 200,482
Plains Commerce Bank 208,568
Wells Fargo Bank 20,628,462
SD FIT 13,562,687
Published once on September 26, 2024, at the total approximate cost of $61.60 and may be viewed free of charge at www.sdpublicnotices.com and www.aberdeeninsider.com