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<br />-7-
<br />The following table provides the City’s Summary of Net Position:
<br />
<br />2019 2018 2019 2018 2019 2018
<br />Assets
<br />Current and other assets 12,945,479$ 12,852,671$ 3,151,779$ 3,252,652$ 16,097,258$ 16,105,323$
<br />Capital assets 26,988,912 26,972,898 20,008,531 19,867,868 46,997,443 46,840,766
<br />Total assets 39,934,391$ 39,825,569$ 23,160,310$ 23,120,520$ 63,094,701$ 62,946,089$
<br />Deferred outflows of resources
<br />Pension plan deferments – PERA 56,374$ 183,899$ 39,435$ 47,339$ 95,809$ 231,238$
<br />Liabilities
<br />Long-term liabilities
<br /> outstanding 795,864$ 891,506$ 3,104,472$ 3,014,867$ 3,900,336$ 3,906,373$
<br />Other liabilities 1,847,726 2,056,217 483,552 1,336,827 2,331,278 3,393,044
<br />Total liabilities 2,643,590$ 2,947,723$ 3,588,024$ 4,351,694$ 6,231,614$ 7,299,417$
<br />Deferred inflows of resources
<br />Pension plan deferments – PERA 191,233$ 318,242$ 133,772$ 190,981$ 325,005$ 509,223$
<br />State aid received for subsequent years – 23,171 – – – 23,171
<br />Total deferred inflows of resources 191,233$ 341,413$ 133,772$ 190,981$ 325,005$ 532,394$
<br />Net position
<br />Net investment in capital assets 26,988,912$ 26,972,898$ 17,452,137$ 17,295,916$ 44,441,049$ 44,268,814$
<br />Restricted 1,096,698 1,010,521 – – 1,096,698 1,010,521
<br />Unrestricted 9,070,332 8,736,913 2,025,812 1,329,268 11,096,144 10,066,181
<br />Total net position 37,155,942$ 36,720,332$ 19,477,949$ 18,625,184$ 56,633,891$ 55,345,516$
<br />Summary of Net Position
<br />as of December 31, 2019 and 2018
<br />Table 1
<br />Activities Activities Total
<br />Governmental Business-Type
<br />
<br />
<br />Restricted net position of $1,096,698 comprises 1.9 percent of net position at the close of the fiscal year
<br />ended December 31, 2019. These assets are subject to external restrictions on how they may be used.
<br />
<br />The balance of unrestricted net position, $11,096,144, or approximately 19.6 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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