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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, 2023 and
<br />2022, for governmental activities and business -type activities:
<br />As of December 31,
<br />2023 2022
<br />Change
<br />Net position
<br />Governmental activities
<br />Net investment in capital assets $ 66,959,661 $ 63,796,121 $ 3,163,540
<br />Restricted 18,598,778 20,624,484 (2,025,706)
<br />Unrestricted 26,728,758 23,405,779 3,322,979
<br />Total governmental activities 112,287,197 107,826,384 4,460,813
<br />Business -type activities
<br />Net investment in capital assets 71,932,644 63,486,708 8,445,936
<br />Unrestricted 44,232,074 43,879,636 352,438
<br />Total business -type activities 116,164,718 107,366,344 8,798,374
<br />Total net position $ 228,451,915 $ 215,192,728 $ 13,259,187
<br />The City's total net position on December 31, 2023 was $13,259,187 more than the previous year.
<br />Governmental activities increased $4,460,813 and business -type activities increased $8,798,374.
<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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