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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 the City's net position as of December 31, 2015 and
<br /> 2014, for governmental activities and business-type activities:
<br /> As of December 31, Increase
<br /> 2015 2014 (Decrease)
<br /> Net position
<br /> Governmental activities
<br /> Net investment in capital assets $ 41,216,689 $ 41,657,601 $ (440,912)
<br /> Restricted 18,430,141 15,273,582 3,156,559
<br /> Unrestricted 13,292,971 8,120,953 5,172,018
<br /> Total governmental activities 72,939,801 65,052,136 7,887,665
<br /> Business-type activities
<br /> Net investment in capital assets 49,340,145 50,427,367 (1,087,222)
<br /> Unrestricted 34,206,676 30,915,832 3,290,844
<br /> Total business-type activities 83,546,821 81,343,199 2,203,622
<br /> Total net position $ 156,486,622 $ 146,395,335 $ 10,091,287
<br /> Net position for governmental activities increased by $7,887,665 in the current year as presented above.
<br /> The City's net investment in capital assets decreased as noted in the table above. The change in this
<br /> category of net position typically depends on the relationship of the rate at which the City is adding
<br /> additional capital assets, the rate capital assets are being depreciated, and how that relates to the rate at
<br /> which the City is repaying the debt issued to purchase or construct those assets. The restricted and
<br /> unrestricted portion of the City's net position increased as presented above, due to the receipt of
<br /> developer reimbursements and gains on the sale of land held for resale as previously discussed. The
<br /> change in accounting principle for pensions, as mentioned earlier, reduced beginning net position in
<br /> governmental activities by$4,027,281.
<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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