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<br />-7-
<br />The following table provides the City’s Summary of Net Position:
<br />
<br />2017 2016 2017 2016 2017 2016
<br />Assets
<br />Current and other assets 14,155,756$ 12,385,881$ 2,312,905$ 2,290,327$ 16,468,661$ 14,676,208$
<br />Capital assets 22,750,377 25,178,721 16,292,000 16,306,381 39,042,377 41,485,102
<br />Total assets 36,906,133$ 37,564,602$ 18,604,905$ 18,596,708$ 55,511,038$ 56,161,310$
<br />Deferred outflows of resources
<br />Pension plan deferments – PERA 311,733$ 583,538$ 129,205$ 311,390$ 440,938$ 894,928$
<br />Liabilities
<br />Long-term liabilities
<br /> outstanding 1,020,742$ 1,454,178$ 541,973$ 830,729$ 1,562,715$ 2,284,907$
<br />Other liabilities 1,204,043 1,763,108 387,738 539,337 1,591,781 2,302,445
<br />Total liabilities 2,224,785$ 3,217,286$ 929,711$ 1,370,066$ 3,154,496$ 4,587,352$
<br />Deferred inflows of resources
<br />Pension plan deferments – PERA 353,646$ 206,006$ 213,655$ 114,694$ 567,301$ 320,700$
<br />State aid received for subsequent years 312,100 509,889 – – 312,100 509,889
<br />Total deferred inflows of resources 665,746$ 715,895$ 213,655$ 114,694$ 879,401$ 830,589$
<br />Net position
<br />Investment in capital assets 22,750,377$ 25,178,721$ 16,292,000$ 16,306,381$ 39,042,377$ 41,485,102$
<br />Restricted 898,739 786,678 – – 898,739 786,678
<br />Unrestricted 10,678,219 8,249,560 1,298,744 1,116,957 11,976,963 9,366,517
<br />Total net position 34,327,335$ 34,214,959$ 17,590,744$ 17,423,338$ 51,918,079$ 51,638,297$
<br />Summary of Net Position
<br />as of December 31, 2017 and 2016
<br />Table 1
<br />Activities Activities Total
<br />Governmental Business-Type
<br />
<br />
<br />Restricted net position of $898,739 comprises 1.7 percent of net position at the close of the fiscal year
<br />ended December 31, 2017. These assets are subject to external restrictions on how they may be used.
<br />
<br />The balance of unrestricted net position, $11,976,963, or approximately 23.1 percent, may be used to
<br />meet the City’s ongoing obligations to citizens and creditors. Certain balances within unrestricted net
<br />position may have internally imposed commitments or limitations, which may further limit the purpose
<br />for which such net position may be used.
<br />
<br />At the end of the current fiscal year, the City is able to report positive balances in all three categories of
<br />net position, both for the government as a whole, as well as for its separate governmental and
<br />business-type activities. The same situation held true for the prior fiscal year.
<br />
<br />Both governmental activities and business-type activities experienced changes in deferred outflows of
<br />resources, deferred inflows of resources, and long-term liabilities as a result of the City’s participation in
<br />a state-wide defined benefit pension plan.
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