9358-R3_LGP_MechanicFalls_2024AnnualReport

Table 2 Town of Mechanic Falls, Maine Change in Net Position For the Years Ended June 30/December 31,

Governmental Activities

Business-type Activities

2025

2024

2024

2023

Revenues Program Revenues: Charges for services

$

111,215 27,352

$

149,055 224,609

$

416,030

$

413,726

Operating grants and contributions

-

-

General Revenues: Taxes

4,932,287

4,422,306

-

-

Grants and contributions not restricted to specific programs

914,860 461,938 6,447,652

820,791 543,538 6,160,299

-

-

Miscellaneous Total Revenues

72,348 488,378

26,123 439,849

Expenses General government

502,552 721,022 753,717 43,888 2,437,041 282,975 594,473

471,158 451,200 706,395 39,887 2,017,236 270,522 587,571 11,930 191,466 656,054 5,403,419

- - - - - -

- - - - - -

Public safety Public works Education County tax Unclassified

327,670

307,400

Community services

Interest on long-term debt

5,184

3,870

4,893

Depreciation Capital outlay Total Expenses

235,506

112,007

110,887

-

-

-

5,576,358

443,547

423,180

Change in Net Position

871,294

756,880

44,831

16,669

Net Position - July 1, As Previously Reported

6,313,105

5,556,225

4,585,215

4,568,546

Net Position Correction

26,956

-

(11)

-

Net Position - July 1, As Restated

6,340,061

5,556,225

4,585,204

4,568,546

Net Position - June 30

$

7,211,355

$ 6,313,105

$ 4,630,035

$ 4,585,215

Revenues and Expenses Revenues for the Town’s governmental activities increased by 4.66%, while total expenses increased by 3.20%. All revenue categories saw increases with the exception of charges for services, operating grants and contributions and miscellaneous. All expense categories increased except for interest on long-term debt and capital outlay. Revenues for the Town’s business-type activities increased by 11.03%, while total expenses increased by 4.81%.

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