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During the year ended May 31, 2025, the Village’s Water District Fund reported an increase in fund balance of $25,145, resulting in an ending fund balance of $664,500. Of this total, $150,111 is restricted to fund future capital improvements and $514,389 is reported as assigned fund balance for the specific operations of this fund. During the year ended May 31, 2025, the Village’s Sewer Fund reported an increase in fund balance of $256,076, resulting in an ending fund balance of $1,072,214. Of this total, $308,604 is restricted to fund capital improvements arid $763,610 is reported as assigned fund balance for the specific operations of this fund. ‘ During the year ended May 31, 2025, the Village’ Capital Projects Fund reported a decrease in fund balance of $2,391,599, resulting in an ending fund balance of negative $2,768,299. Of this total, $1,777,486 is reported as restricted fund balance as unspent cash in the fund to be used to fund future capital projects and negative $4,545,785 is reported as assigned fund balance for the specific operations of this fund. The Village is currently pursuing grant financing options to fund the short-fall in this fund. General Fund Budgetary Highlights The budget is allowed to be amended upward (increased) for additional current year appropriat ions supported by an increase in budgeted revenues. A budgetary comparison schedule within the required supplementary information section of this report has been provided to demonstrate compliance with the budget. A summary of the General Fund results of operations for the year ended May 31, 2025 is presented below in Table 3. Table 3 — General Fund Budget Budgeted Amounts Variance with Original Final Actual Final Budget Revenues $ 1,968,839 2,005,811 2,082,744 76,933 Expenditures 2,168,839 2,205,811 1,706,300 499,511 Excess of revenues over expenditures - $ (200,000) (200,000) 376,444 576,444 Original budget compared to final budget — During the year there was a net increase in appropriat ions between the original budget and the final amended budget due to supplemental appropriations for various unanticipated departmental expenditures. Final budget compared to actual results — A review of actual revenues and expenditures compared to the estimated revenues and appropriations in the formal budget yields certain variances. The General Fund realized a positive budget variance of $48,075 for departmental. income and a negative budget variance of $40,024 for intergovernmental charges, among other less significant variances. Additionall y, the General Fund realized positive budget variances of $163,775 for general government support expenditures, $80,009 for public safety expenditures, $75,305 for transportation expenditures, $65,933 for employee benefit expenditures, and $29,891 for culture and recreation expenditures among other less significant variances. 10