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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, 2025, and
<br />2024, for governmental activities and business -type activities (utility operations):
<br />As of December 31,
<br />2025 2024
<br />Change
<br />Net position
<br />Governmental activities
<br />Net investment in capital assets $ 82,689,945 $ 72,783,568 $ 9,906,377
<br />Restricted 11,974,763 14,022,396 (2,047,633)
<br />Unrestricted 38,618,625 36,934,626 1,683,999
<br />Total governmental activities 133,283,333 123,740,590 9,542,743
<br />Business -type activities
<br />Net investment in capital assets 112,202,886 95,749,335 16,453,551
<br />Unrestricted 26,375,618 32,212,510 (5,836,892)
<br />Total business -type activities 138,578,504 127,961,845 10,616,659
<br />Total net position $ 271,861,837 $ 251,702,435 $ 20,159,402
<br />The City's total net position on December 31, 2025, was $20,159,402 more than the previous year.
<br />Governmental activities increased $9,542,743 and business -type activities increased $10,616,659.
<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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