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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, 2017 and
<br />2016, 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 />2017 2016 (Decrease)
<br />$ 42,129,791 $ 42,170,710 $ (40,919)
<br />19,679,434 18,323,930 1,355,504
<br />13,559,175 13,832,461 (273,286)
<br />75,368,400 74,327,101 1,041,299
<br />53,855,285 51,959,594 1,895,691
<br />38,306,851 35,953,541 2,353,310
<br />92,162,136 87,913,135 4,249,001
<br />$ 167,530,536 $ 162,240,236 $ 5,290,300
<br />Net position increased by $5,290,300 in the current year as presented above. At the end of the current
<br />fiscal year, the City is able to present positive balances in all three categories of net position, both for the
<br />government as a whole, as well as for its separate governmental and business -type activities. The same
<br />situation held true for the prior fiscal year.
<br />The increase in restricted net position within governmental activities was primarily due to an increase in
<br />resources restricted for debt service. The change in net position of business -type activities is consistent
<br />with the change of the utility enterprise operations.
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