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<br />-7-
<br />The following table provides the City’s Summary of Net Position:
<br />
<br />2020 2019 2020 2019 2020 2019
<br />Assets
<br />Current and other assets 15,458,034$ 12,945,479$ 3,831,773$ 3,151,779$ 19,289,807$ 16,097,258$
<br />Capital assets 26,418,066 26,988,912 19,589,800 20,008,531 46,007,866 46,997,443
<br />Total assets 41,876,100$ 39,934,391$ 23,421,573$ 23,160,310$ 65,297,673$ 63,094,701$
<br />Deferred outflows of resources
<br />Pension plan deferments – PERA 125,948$ 56,374$ 81,715$ 39,435$ 207,663$ 95,809$
<br />Liabilities
<br />Long-term liabilities
<br /> outstanding 982,605$ 795,864$ 2,986,238$ 3,104,472$ 3,968,843$ 3,900,336$
<br />Other liabilities 1,658,408 1,847,726 237,965 483,552 1,896,373 2,331,278
<br />Total liabilities 2,641,013$ 2,643,590$ 3,224,203$ 3,588,024$ 5,865,216$ 6,231,614$
<br />Deferred inflows of resources
<br />Pension plan deferments – PERA 45,668$ 191,233$ 29,630$ 133,772$ 75,298$ 325,005$
<br />State aid received for subsequent years 1,225,355 – – – 1,225,355 –
<br />Total deferred inflows of resources 1,271,023$ 191,233$ 29,630$ 133,772$ 1,300,653$ 325,005$
<br />Net position
<br />Net investment in capital assets 26,418,066$ 26,988,912$ 17,248,962$ 17,452,137$ 43,667,028$ 44,441,049$
<br />Restricted 1,137,740 1,096,698 – – 1,137,740 1,096,698
<br />Unrestricted 10,534,206 9,070,332 3,000,493 2,025,812 13,534,699 11,096,144
<br />Total net position 38,090,012$ 37,155,942$ 20,249,455$ 19,477,949$ 58,339,467$ 56,633,891$
<br />Activities Activities Total
<br />Governmental Business-Type
<br />Summary of Net Position
<br />as of December 31, 2020 and 2019
<br />Table 1
<br />
<br />
<br />Restricted net position of $1,137,740 comprises 2.0 percent of net position at the close of the fiscal year
<br />ended December 31, 2020. These assets are subject to external restrictions on how they may be used.
<br />
<br />The balance of unrestricted net position, $13,534,699, or approximately 23.2 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. The City reported an increase in current and other assets and
<br />deferred inflows of resources with the receipt of state aid funding with an entitlement applicable to future
<br />funding periods.
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