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Proprietary Funds — The City's Proprietary Funds provide the same type of information found in the
<br />government -wide financial statements, but in more detail. The City's Enterprise Funds had a combined net
<br />position balance of $102,569,004 at December 31, 2019. The financial activities of these funds have been
<br />summarized in previous charts within this discussion. The City's Internal Service Fund had an ending net
<br />position of $495,826.
<br />The Enterprise Funds consist of the Water Utility Fund, Sewer Utility Fund, Street Light Utility Fund, Recycling
<br />Utility Fund, and Storm Water Utility Fund. The growth in net position reflects the ongoing expansion and
<br />provision of services to the various service areas of the utilities.
<br />Capital Assets — The City's investment in capital assets (net of accumulated depreciation) for its governmental
<br />and business -type activities as of December 31, 2019 are as follows:
<br />Governmental Business -Type
<br />Activities
<br />Activities Totals
<br />2019 2018 2019 2018 2019 2018
<br />Capital Assets - Not Depreciated $ 7,565,372 $ 9,072,412 $ 2,169,011 $ 899,244 $ 9,734,383 $ 9,971,656
<br />Capital Assets - Depreciated 59,217,945 58,608,723 53,406,200 52,754,095 112,624,145 111,362,818
<br />Total capital assets, net of depreciation $ 66,783,317 $ 67,681,135 $ 55,575,211 $ 53,653,339 $ 122,358,528 $ 121,334,474
<br />Depreciation exp ens $ 3,556,745 $ 3,429,643 $ 1,612,989 $ 1,580,361 $ 5,169,734 $ 5,010,004
<br />The City's investment in capital assets for its governmental and business -type activities as of December 31, 2019
<br />amounts to approximately $122 million (net of accumulated depreciation).
<br />The governmental activities show a decrease of $897,818 in capital assets attributable to several assets either
<br />being sold or retired. Business -type activities show an increase of $1,921,872 in capital assets. The increase is
<br />attributable to developer contributions to the City's utility system as part of their private developments.
<br />Additional details of capital asset activity for the year can be found in Note 4 of the notes to basic financial
<br />statements.
<br />Long -Term Liabilities — The Debt Service Funds account for the accumulation of resources to finance all of
<br />the City's governmental activity general obligation bonds. The revenue sources for these funds include annual
<br />tax levies and special assessments. At year-end, major debt service fund balance was $1,355,204 and non -major
<br />debt service fund balance was $1,450,800 for a total of $2,806,004 in fund balance restricted for debt service.
<br />The following table summarizes the City's long-term liabilities:
<br />2019 2018
<br />Governmental Activities
<br />G.O. improvement bonds $ 23, 165,000 $ 25,295,000
<br />Capital equipment certificates 725,000 875,000
<br />Compensated absences payable 948,700 905,627
<br />Net pension liability 4,867,794 4,683,942
<br />Total OPEB liability 699,412 645,239
<br />Subtotal 30,405,906 32,404,808
<br />Business -type Activities
<br />Net pension liability
<br />544,044 543,043
<br />Total $ 30,949,950 $ 32,947,851
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