|
<br />-7-
<br />The following table provides the City’s Summary of Net Position:
<br />
<br />2021 2020 2021 2020 2021 2020
<br />Assets
<br />Current and other assets 16,693,237$ 15,458,034$ 4,822,482$ 3,831,773$ 21,515,719$ 19,289,807$
<br />Capital assets 27,614,215 26,418,066 20,492,122 19,589,800 48,106,337 46,007,866
<br />Total assets 44,307,452$ 41,876,100$ 25,314,604$ 23,421,573$ 69,622,056$ 65,297,673$
<br />Deferred outflows of resources
<br />Pension plan deferments – PERA 449,603$ 125,948$ 328,796$ 81,715$ 778,399$ 207,663$
<br />Liabilities
<br />Long-term liabilities
<br /> outstanding 701,569$ 982,605$ 2,633,009$ 2,986,238$ 3,334,578$ 3,968,843$
<br />Other liabilities 3,074,562 1,658,408 311,995 237,965 3,386,557 1,896,373
<br />Total liabilities 3,776,131$ 2,641,013$ 2,945,004$ 3,224,203$ 6,721,135$ 5,865,216$
<br />Deferred inflows of resources
<br />Pension plan deferments – PERA 551,655$ 45,668$ 403,427$ 29,630$ 955,082$ 75,298$
<br />State aid received for subsequent years 934,670 1,225,355 – – 934,670 1,225,355
<br />Total deferred inflows of resources 1,486,325$ 1,271,023$ 403,427$ 29,630$ 1,889,752$ 1,300,653$
<br />Net position
<br />Net investment in capital assets 27,474,959$ 26,418,066$ 18,373,335$ 17,248,962$ 45,848,294$ 43,667,028$
<br />Restricted 1,220,301 1,137,740 – – 1,220,301 1,137,740
<br />Unrestricted 10,799,339 10,534,206 3,921,634 3,000,493 14,720,973 13,534,699
<br />Total net position 39,494,599$ 38,090,012$ 22,294,969$ 20,249,455$ 61,789,568$ 58,339,467$
<br />Summary of Net Position
<br />as of December 31, 2021 and 2020
<br />Table 1
<br />Activities Activities Total
<br />Governmental Business-Type
<br />
<br />
<br />Restricted net position of $1,220,301 comprises 2.0 percent of net position at the close of the fiscal year
<br />ended December 31, 2021. These assets are subject to external restrictions on how they may be used.
<br />
<br />The balance of unrestricted net position, $14,720,973, or approximately 23.8 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 />other liabilities with receipt of cash for developer deposits held at year-end.
|