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<br />As management of the City of Centerville, Minnesota, (the City), we offer readers <br />overview and analysis of the financial activities of the City for the fiscal year ended December 31, 2012. <br />Financial Highlights <br />The assets of the City exceeded its liabilities at the close of the most recent fiscal year by $21,343,061 (net position). Of this <br />amount, $4,306,693(unrestricted net position <br />net position decreased by $154,451. A further breakdown of net position is chronicled under Government <br />wide financial statement analysis. <br /> <br />At the end of the current fiscal year, unassigned fund balance for the General fund was $1,202,827. While these funds are <br />not legally reserved, they are designated for future cash flow purposes. <br /> <br />The Cicreased $37,449, during the current fiscal year. The decrease was mainly due to regularly scheduled <br />debt payments, which was offset by the issuance of the refunding 2012A bond issue. <br /> <br />Overview of the Financial Statements <br /> <br />This discussion and analysis is intended <br />statements comprise three components: 1) government-wide financial statements, 2) fund financial statements, and 3) notes to the <br />financial statements. This analysis contains other supplemental information in addition to the basic financial statements themselves. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />-13- <br /> <br />