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OVERVIEW OF THE FINANCIAL STATEMENTS (CONTINUED)
<br />Further, a statistical section has been included as part of the annual comprehensive financial report to facilitate
<br />additional analysis, and is the third and final section of the report.
<br />GOVERNMENT -WIDE FINANCIAL ANALYSIS
<br />As noted earlier, net position may serve over time as a useful indicator of a government's financial position. The
<br />City's assets and deferred outflows of resources exceeded liabilities and deferred inflows of resources by
<br />$271,861,837 at December 31, 2025. Total net position increased by $20,159,402 from current year operating
<br />results.
<br />By far, the largest portion of the City's net position (72 percent) reflects its investment in capital assets (e.g.,
<br />land, buildings, machinery, infrastructure, and equipment), less any related debt used to acquire those assets that
<br />is still outstanding. The City uses these capital assets to provide services to citizens; consequently, these assets
<br />are not available for future spending. Although the City's investment in its capital assets is reported net of
<br />related debt, it should be noted that the resources needed to repay this debt must be provided from other sources,
<br />since the capital assets themselves cannot be used to liquidate these liabilities.
<br />The following is a summary of the City's net position:
<br />Governmental Activities Business -Type Activities Total
<br />2025 2024 2025 2024 2025 2024
<br />Current and other as sets $ 64,587,872 $ 66,922,957 $ 27,075,972 $ 32,966,160 $ 91,663,844 $ 99,889,117
<br />Capital assets, net of depreciation 119,556,986 111,196,429 114,179,524 97,821,087 233.736,510 209,017,516
<br />Total assets 5184,144,858 $178,119,386 $141,255,496 $130,787,247 $325,400,354 $308,906,633
<br />Deferred outflows of resources
<br />OPEB plan deferments $ 794,118 $ 899,946 $ — $ — $ 794,118 $ 899,946
<br />Pcnsion plan deferments 4,964,317 6,174,804 149,572 111,213 5,113,889 6,286,017
<br />Total assets $ 5,758,435 $ 7,074,750 $ 149,572 $ 111,213 $ 5,908,007 $ 7,185,963
<br />Liabilities
<br />Current and other liabilities $ 4,050,369 $ 4,119,931 $ 2,236,794 $ 2,319,569 $ 6,287,163 $ 6,439,500
<br />Long-term liabilities 44,647,118 48,048,879 362,265 370,664 45,009,383 48,419,543
<br />Total liabilities $ 48,697,487 $ 52,168,810 $ 2,599,059 $ 2,690,233 $ 51,296,546 $ 54,859,043
<br />Deferred inflows of resources
<br />Leases receivable forsubsequent years $ 987,781 $ 1,178,551 $ — $ — $ 987,781 $ 1,178,551
<br />OPEB plan deferments 501,015 552,416 — — 501,015 552,416
<br />Pension plan deferments 6,433,677 7,553,769 227,505 246,382 6,661,182 7,800,151
<br />Total deferred inflows of resources $ 7,922.473 $ 9,284,736 $ 227,505 $ 246,382 $ 8,149,978 $ 9,531,118
<br />Net position
<br />Net investment in capital assets $ 82,689,945 $ 72,783,568 $112.202,886 $ 95,749,335 $194.892,831 $168,532,903
<br />Restricted 11,974,763 14,022,396 — — 11,974,763 14,022,396
<br />Unrestricted 38,618,625 36,934,626 26,375,618 32,212,510 64.994,243 69,147,136
<br />Total net position $133,283,333 $123,740,590 $138,578,504 $127,961,845 $271,861,837 $251,702,435
<br />The City's financial position is the product of many factors. For example, the determination of the City's net
<br />investment in capital assets involves many assumptions and estimates, such as current and accumulated
<br />depreciation amounts. A conservative versus a liberal approach to depreciation estimates, as well as
<br />capitalization policies, will produce a very significant difference in the calculated amounts.
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