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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, 2018 and
<br />2017, for governmental activities and business -type activities:
<br />As of December 31, Increase
<br />2018 2017 (Decrease)
<br />Net position
<br />Governmental activities
<br />Net investment in capital assets $ 43,551,135 $ 42,129,791 $ 1,421,344
<br />Restricted 20,935,216 19,679,434 1,255,782
<br />Unrestricted 15,666,889 13,559,175 2,107,714
<br />Total governmental activities 80,153,240 75,368,400 4,784,840
<br />Business -type activities
<br />Net investment in capital assets 53,653,338 53,855,285 (201,947)
<br />Unrestricted 43,024,292 38,306,851 4,717,441
<br />Total business -type activities 96,677,630 92,162,136 4,515,494
<br />Total net position $ 176,830,870 $ 167,530,536 $ 9,300,334
<br />Net position increased by $9,300,334 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 net position within governmental activities presents the overall operating results of the
<br />governmental funds previously discussed along with the continued development and investment in
<br />infrastructure within the City. The change in net position of business -type activities is consistent with the
<br />change of the utility enterprise operations.
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