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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 />The following table presents the components of the City's net position as of December 31, 2022 and
<br />2021, for governmental activities and business -type activities:
<br />As of December 31,
<br />2022
<br />2021
<br />Change
<br />Net position
<br />Governmental activities
<br />Net investment in capital assets
<br />$ 63,796,121
<br />$ 57,32204 $
<br />6,474,117
<br />Restricted
<br />20,624,484
<br />1906,753
<br />737,731
<br />Unrestricted
<br />23,405,779
<br />22,741,842
<br />663,937
<br />Total governmental activities
<br />1079826,384
<br />999950,599
<br />718759785
<br />Business -type activities
<br />Net investment in capital assets
<br />631486,708
<br />575940,442
<br />5,546,266
<br />Unrestricted
<br />431879,636
<br />48,126,205
<br />(4,246,569)
<br />Total business -type activities
<br />107,366,344
<br />106,0661647
<br />1,299,697
<br />Total net position
<br />$ 215,192,728
<br />$ 206,017,246 $
<br />9,175,482
<br />The City's total net position on December 31, 2022 was $9,175,482 more than the previous year.
<br />Governmental activities increased $7,875,785 and business -type activities increased $1,299,697.
<br />The increase in net position within governmental activities presents the overall operating results of the
<br />governmental funds, along with the continued development and investment in infrastructure within the
<br />City. The increase in business -type activities net position matches the enterprise funds activity previously
<br />discussed.
<br />At the end of the current fiscal year, the City is able to present positive balances in all categories of net
<br />position, both for the government as a whole, as well as for its separate governmental and business -type
<br />activities. The same situation held true for the prior fiscal year.
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