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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 2021
<br />Change
<br />Net position
<br />Governmental activities
<br />Net investment in capital assets $ 63,796,121 $ 57,322,004 $ 6,474,117
<br />Restricted 20,624,484 19,886,753 737,731
<br />Unrestricted 23,405,779 22,741,842 663,937
<br />Total governmental activities 107,826,384 99,950,599 7,875,785
<br />Business -type activities
<br />Net investment in capital assets 63,486,708 57,940,442 5,546,266
<br />Unrestricted 43,879,636 48,126,205 (4,246,569)
<br />Total business -type activities 107,366,344 106,066,647 1,299,697
<br />Total net position $ 215,192,728 $ 206,017,246 $ 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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