9358-R3_LGP_MechanicFalls_2024AnnualReport

Financial Analysis of the Town’s Fund Statements Governmental funds : The financial reporting focus of the Town’s governmental funds is to provide information on near-term inflows, outflows and balances of spendable resources. Such information may be useful in assessing the Town’s financial requirements. In particular, unassigned fund balance may serve as a useful measure of a government’s financial position at the end of the year and the net resources available for spending.

Table 3 Town of Mechanic Falls, Maine Fund Balances - Governmental Funds June 30,

2024

Increase/ (Decrease)

2025

(Restated)

General Fund:

Nonspendable Committed Unassigned

$

28,322 464,000 1,859,730

$

22,206 178,000 1,980,150

$

6,116

286,000 (120,420) 171,696

Total General Fund

$ 2,352,052

$ 2,180,356

$

Fire/Rescue Reserve Fund: Committed Total Fire/Rescue Reserve Fund Highway Reserve Fund: Committed Total Highway Reserve Fund Nonmajor Funds: Special Revenue Funds: Restricted

$ (436,803) $ (436,803)

$ $

4,167 4,167

$ $

440,970 440,970

$ $

(60,827) (60,827)

$ $

14,128 14,128

$ $

74,955 74,955

$

106

$

106

$

-

466,671

284,080

182,591

Assigned

Capital Project Funds: Committed Permanent Funds: Nonspendable

472,756

458,054

14,702

1,755 11,821 953,109

1,755 11,271 755,266

-

Restricted

550

Total Nonmajor Funds

$

$

$

197,843

The changes to total fund balances for the general fund, fire/rescue reserve fund, highway reserve fund and nonmajor funds occurred due to the regular activity of operations.

10

76