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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 the 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 />• Net Investment in Capital Assets — The portion of net position reflecting equity in capital assets
<br />(i.e., capital assets minus related debt).
<br />• Restricted Net Position — The portion of net position equal to resources whose use is legally
<br />restricted minus any noncapital-related liabilities payable from those same resources.
<br />• Unrestricted Net Position — The residual balance of net position after the elimination of net
<br />investment in capital assets and restricted net position.
<br />The following table presents the components of the City's net position as of December 31, 2016 and
<br />2015, for governmental activities and business -type activities:
<br />As of December 31, Increase
<br />2016 2015 (Decrease)
<br />Net position
<br />Governmental activities
<br />Net investment in capital assets $ 42,170,710 $ 41,216,689 $ 954,021
<br />Restricted 18,323,930 18,430,141 (106,211)
<br />Unrestricted 13,832,461 13,292,971 539,490
<br />Total governmental activities 74,327,101 72,939,801 1,387,300
<br />Business -type activities
<br />Net investment in capital assets 51,959,594 49,340,145 2,619,449
<br />Unrestricted 35,953,541 34,206,676 1,746,865
<br />Total business -type activities 87,913,135 83,546,821 4,366,314
<br />Total net position $ 162,240,236 $ 156,486,622 $ 5,753,614
<br />Net position for governmental activities increased by $5,753,614 in the current year as presented above,
<br />which reflects an increase of $3,063,947 from current year operating results, while the prior period
<br />adjustment mentioned earlier increased net position by $2,689,667. At the end of the current fiscal year,
<br />the City is able to present positive balances in all three categories of net position, both for the government
<br />as a whole, as well as for its separate governmental and business -type activities. The same situation held
<br />true for the prior fiscal year.
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