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GOVERNMENT -WIDE FINANCIAL ANALYSIS (CONTINUED)
<br />The following is a summary of the City's net position:
<br />Assets
<br />Current and other assets
<br />Capital assets, net of
<br />depreciation
<br />Total assets
<br />Liabilities
<br />Current and other liabilities
<br />Long-term liabilities
<br />Total liabilities
<br />Net position
<br />Net investment in capital assets
<br />Restricted
<br />Unrestricted
<br />Total net position
<br />Net Position
<br />Governmental Business -Type
<br />Activities Activities Total
<br />2014 2013 2014 2013 2014 2013
<br />$ 36,073,670 $ 39,649,243 $ 31,025,768 $ 29,034,615 $ 67,099,438 $ 68,683,858
<br />63,312,601
<br />62,529,256
<br />50,427,367
<br />50,494,576
<br />113,739,968
<br />113,023,832
<br />$ 99,386,271
<br />$ 102,178,499
<br />$
<br />81,453,135
<br />$ 79,529,191
<br />$
<br />180,839,406
<br />$ 181,707,690
<br />$ 1,091,801
<br />$ 736,466
<br />$
<br />109,936
<br />$ 64,885
<br />$
<br />1,201,737
<br />$ 801,351
<br />33,242,334
<br />36,831,840
<br />-
<br />-
<br />33,242,334
<br />36,831,840
<br />$ 34,334,135
<br />$ 37,568,306
<br />$
<br />109,936
<br />$ 64,885
<br />$
<br />34,444,071
<br />$ 37,633,191
<br />$ 41,657,601
<br />$ 40,374,256
<br />$
<br />50,427,367
<br />$ 50,494,576
<br />$
<br />92,084,968
<br />$ 90,868,832
<br />15,273,582
<br />16,128,452
<br />-
<br />-
<br />15,273,582
<br />16,128,452
<br />8,120,953
<br />8,107,485
<br />30,915,832
<br />28,969,730
<br />39,036,785
<br />37,077,215
<br />$ 65,052,136
<br />$ 64,610,193
<br />$
<br />81,343,199
<br />$ 79,464,306
<br />$
<br />146,395,335
<br />$ 144,074,499
<br />The City's financial position is the product of many factors. For example, the determination of the City's net
<br />investment in capital assets involves many assumptions and estimates, such as current and accumulated
<br />depreciation amounts. A conservative versus a liberal approach to depreciation estimates, as well as
<br />capitalization policies, will produce a very significant difference in the calculated amounts.
<br />The City has taken a conservative financial approach, carefully analyzing revenues and expenditures/expenses
<br />to assure operation of a balanced budget. The ongoing management of revenue and expenditures/expenses has
<br />resulted in an upgraded bond rating. In November 2009, Standard and Poor's (S&P) upgraded the City's bond
<br />rating from an AA- to an AA+ and reaffirmed the rating in December 2014. This has also allowed the City to
<br />continue to provide quality public services at a tax rate that is affordable.
<br />At the end of the current fiscal year, the City is able to report positive balances in all three categories of net
<br />position, both for the government as a whole, as well as for its separate governmental and business -type
<br />activities.
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