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<br />GOVERNMENT-WIDE FINANCIAL STATEMENTS
<br />
<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 />
<br />STATEMENT OF NET POSITION
<br />
<br />The Statement of Net Position essentially tells you what your 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: investment in capital assets, restricted, and unrestricted.
<br />
<br />The following table presents the components of the City’s net position as of December 31, 2020 and
<br />2019, for governmental activities and business-type activities (utility fund operations):
<br />
<br />2020 2019 Change
<br />Net position
<br />Governmental activities
<br />Net investment in capital assets 26,418,066$ 26,988,912$ (570,846)$
<br />Restricted 1,137,740 1,096,698 41,042
<br />Unrestricted 10,534,206 9,070,332 1,463,874
<br />Total governmental activities 38,090,012 37,155,942 934,070
<br />Business-type activities
<br />Net investment in capital assets 17,248,962 17,452,137 (203,175)
<br />Unrestricted 3,000,493 2,025,812 974,681
<br />Total business-type activities 20,249,455 19,477,949 771,506
<br />Total net position 58,339,467$ 56,633,891$ 1,705,576$
<br />As of December 31,
<br />
<br />Net position for governmental activities increased by $934,070 in 2020, as presented above. The largest
<br />change in governmental activities occurred in unrestricted net position. Positive operations, with an
<br />increase in property taxes and operating grants, improved unrestricted net position.
<br />
<br />The change in net position for business-type activities is consistent with our earlier discussion of the
<br />utility operations, which are presented under the same, full accrual basis of accounting.
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