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<br />-6- <br />Proprietary Funds – The City maintains two different types of proprietary funds. Proprietary funds <br />provide the same type of information as the government-wide financial statements, only in more detail. <br /> <br />Enterprise funds are used to report the same functions presented as business-type activities in the <br />government-wide financial statements. The City uses enterprise funds to account for its water, sewer, <br />surface water management, and recycling operations. Water, sewer, and surface water management are <br />considered to be major funds of the City. <br /> <br />Internal service funds are an accounting device used to accumulate and allocate costs internally among <br />the City’s various functions. The City maintains internal service funds for risk management, engineering, <br />central garage, and technology. Because these services predominately benefit governmental rather than <br />business-type functions, they have been included within governmental activities in the government-wide <br />financial statements. <br /> <br />The proprietary funds financial statements can be found in the financial section of this report immediately <br />following the governmental funds statements. <br /> <br />Notes to Basic Financial Statements – The notes to basic financial statements provide additional <br />information that is essential to a full understanding of the data provided in the government-wide and fund <br />financial statements. The notes to basic financial statements can be found following the proprietary funds <br />statements within the financial section of this report. <br /> <br />Other Information – In addition to the basic financial statements and accompanying notes, the financial <br />section also presents required supplementary information, and the combining and individual fund <br />statements and schedules (presented as supplemental information) referred to earlier in connection with <br />nonmajor governmental funds and internal service funds, which are presented immediately following the <br />basic financial statements. <br /> <br />Further, a statistical section has been included as part of the CAFR to facilitate additional analysis, and is <br />the third and final section of the report. <br /> <br /> <br />GOVERNMENT-WIDE FINANCIAL ANALYSIS <br /> <br />An analysis of the City’s financial position begins with a review of the Statement of Net Position and the <br />Statement of Activities. These two statements report the City’s net position and changes in net position. It <br />should be noted that the financial position can also be affected by nonfinancial factors, including <br />economic conditions, population growth, and new regulations. <br /> <br />As noted earlier, net position may serve over time as a useful indicator of the City’s financial position. As <br />presented in the following condensed version of the Statement of Net Position, the City’s assets and <br />deferred outflows of resources exceeded liabilities and deferred inflows of resources by $51,918,079 at <br />December 31, 2017. <br /> <br />The largest portion of the City’s net position, $39,042,377, or 75.2 percent, reflects its investment in <br />capital assets (e.g., land, construction in progress, buildings and structures, infrastructure and <br />improvements, distribution and collection systems, machinery and equipment, office furniture and <br />equipment, and vehicles) net of accumulated depreciation. The City uses these capital assets to provide <br />services to citizens; consequently, these assets are not available for future spending.