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<br />The following table provides the City’s Summary of Net Position:
<br />2022 2021 2022 2021 2022 2021
<br />Assets
<br />Current and other assets 17,097,598$ 16,693,237$ 5,696,668$ 4,822,482$ 22,794,266$ 21,515,719$
<br />Capital assets 28,400,370 27,614,215 20,840,566 20,492,122 49,240,936 48,106,337
<br />Total assets 45,497,968$ 44,307,452$ 26,537,234$ 25,314,604$ 72,035,202$ 69,622,056$
<br />Deferred outflows of resources
<br />Pension plan deferments – PERA 320,433$ 449,603$ 245,804$ 328,796$ 566,237$ 778,399$
<br />Liabilities
<br />Long-term liabilities
<br /> outstanding 1,142,549$ 701,569$ 2,758,202$ 2,633,009$ 3,900,751$ 3,334,578$
<br />Other liabilities 3,155,831 3,074,562 356,573 311,995 3,512,404 3,386,557
<br />Total liabilities 4,298,380$ 3,776,131$ 3,114,775$ 2,945,004$ 7,413,155$ 6,721,135$
<br />Deferred inflows of resources
<br />Pension plan deferments – PERA 36,000$ 551,655$ 27,617$ 403,427$ 63,617$ 955,082$
<br />Lease revenues for subsequent years 894,171 – – – 894,171 –
<br />State aid received for subsequent years 606,130 934,670 – – 606,130 934,670
<br />Total deferred inflows of resources 1,536,301$ 1,486,325$ 27,617$ 403,427$ 1,563,918$ 1,889,752$
<br />Net position
<br />Net investment in capital assets 28,318,503$ 27,474,959$ 18,960,842$ 18,373,335$ 47,279,345$ 45,848,294$
<br />Restricted 1,641,206 1,220,301 – – 1,641,206 1,220,301
<br />Unrestricted 10,024,011 10,799,339 4,679,804 3,921,634 14,703,815 14,720,973
<br />Total net position 39,983,720$ 39,494,599$ 23,640,646$ 22,294,969$ 63,624,366$ 61,789,568$
<br />Summary of Net Position
<br />as of December 31, 2022 and 2021
<br />Table 1
<br />Activities Activities Total
<br />Governmental Business-Type
<br />Restricted net position of $1,641,206 comprises 2.6 percent of net position at the close of the fiscal year
<br />ended December 31, 2022. These assets are subject to external restrictions on how they may be used.
<br />The balance of unrestricted net position, $14,703,815, 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 />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 />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 a change in reporting for lease receivables in the current year with the
<br />implementation of new Governmental Accounting Standards Board reporting requirements. Positive
<br />operating results in the City’s utility operations also increased current and other assets in the current year.
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