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GOVERNMENT -WIDE FINANCIAL STATEMENTS
<br />In addition to fund -based information, the current reporting model for governmental entities also requires
<br />the inclusion of two government -wide financial statements designed to present a clear picture of the City
<br />as a single, unified entity. These government -wide financial statements provide information on the total
<br />cost of delivering services, including capital assets and long-term liabilities.
<br />STATEMENT OF NET POSITION
<br />The Statement of Net Position essentially tells you what your city owns and owes at a given point in time,
<br />the last day of the fiscal year. Theoretically, net position represents the resources the City has leftover to
<br />use for providing services after its debts are settled. However, those resources are not always in spendable
<br />form, or there may be restrictions on how some of those resources can be used. Therefore, net position is
<br />divided into three components: net investment in capital assets, restricted, and unrestricted.
<br />The following table presents the components of City's net position as of December 31, 2014 and 2013,
<br />for governmental activities and business -type activities:
<br />Net position
<br />Governmental activities
<br />Net investment in capital assets
<br />Restricted
<br />Unrestricted
<br />Total governmental activities
<br />Business -type activities
<br />Net investment in capital assets
<br />Unrestricted
<br />Total business -type activities
<br />Total net position
<br />As of December 31, Increase
<br />2014 2013 (Decrease)
<br />$ 41,657,601 $ 40,374,256 $ 1,283,345
<br />15,273,582 16,128,452 (854,870)
<br />8,120,953 8,107,485 13,468
<br />65,052,136 64,610,193 441,943
<br />50,427,367 50,494,576 (67,209)
<br />30,915,832 28,969,730 1,946,102
<br />81,343,199 79,464,306 1,878,893
<br />$ 146,395,335 $ 144,074,499 $ 2,320,836
<br />Net position for governmental activities increased by $441,943 in the current year as presented above.
<br />The City's net investment in capital assets increased $1,283,345 this year. The change in this category of
<br />net position typically depends on the relationship of the rate at which the City is adding additional capital
<br />assets, the rate capital assets are being depreciated, and how that relates to the rate at which the City is
<br />repaying the debt issued to purchase or construct those assets. The restricted portion of the City's net
<br />position decreased $854,870, due to a decrease in the restriction for capital improvements and tax
<br />increments.
<br />The change in the net position for business -type activities is consistent with our earlier discussion for the
<br />utility operations which are presented under the same, full accrual, basis of accounting.
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