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Financial Analysis of the Governments Funds As noted earlier the Village of Grafton uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. Governmental funds. The focus of the Village of Graftons governmental funds is to provide information on near-term inflows outflows and balances of spendable resources. Such information is useful in assessing the Village of Graftons financing requirements. In particular committed assigned and unassigned fund balances may serve as a useful measure of a governments net resources available for spending at the end of the fiscal year. As of December 31 2014 the Village of Graftons governmental funds reported combined ending fund balances of 7922587 a decrease of 204239 over the prior year. Approximately 54 percent or 4263461 is available for spending at the governments discretion committed assigned and unassigned fund balance. The remainder of the fund balance is restricted or non-spendable to indicate that it is not available for new spending because it has already been committed 1 to pay debt service 177646 2 to pay for capital equipment and projects 2664166 3 for long term receivables from participants of the Village of Graftons economic development revolving loan fund 627670 4 to generate income to pay for the perpetual care of the municipal cemetery 89790 and 5 for prepaid insurance premiums delinquent taxes and non-current receivables 99854. Of the 4263461 fund balance available for spending in the governmental funds committed assigned and unassigned fund balance the use of 3258286 or approximately 76 percent was in the general funds fund balance. The General Fund is the chief operating fund of the Village of Grafton. As of December 31 2014 the total fund balance of the general fund was 3350270 of which 2613552 was unassigned. This unassigned fund balance represents approximately 32 percent of 2014 total general fund expenditures while total general fund balance represents approximately 42 percent of that same amount. The fund balance of the general fund increased 262744 during fiscal year 2014. The 2014 annual program budget for the Village of Graftons general fund identified the appropriation of 631549 in fund balance to reduce the impact of taxes levied and to balance the budget. However actual expenditures were less than budgeted expenditures by approximately 6 percent or 533435 and actual revenues were more than budgeted revenues in the general fund by 362038 or approximately 5 percent. The Debt Service Fund has a total fund balance of 177646 all of which is restricted for the payment of debt service. The fund balance decreased by 39151. The Impact Fee Debt Service Fund was created to account for the accumulation of impact fees designated for the retirement of debt incurred to construct and improve the fire station library police station and public works facility. The collection of impact fees in 22