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Government-wide Financial Analysis
<br />As noted earlier, net position
<br />assets exceeded liabilities by $21,343,061 at the close of the most recent fiscal year.
<br />net position ( 66 percent) reflects its investment in capital assets (e.g., land, buildings,
<br />machinery and equipment); less any related debt used to acquire those assets that are still outstanding. The City uses these capital
<br />assets to provide services to citizens; consequently, these assets are not av
<br />in its capital assets is reported net of related debt, it should be noted that the resources needed to repay this debt must be provided from
<br />other sources, since the capital assets themselves cannot be used to liquidate these liabilities.
<br />Summary of Net position
<br />
<br />Governmental ActivitiesBusiness-type Activities
<br />RestatedIncreaseIncrease
<br />20122011(Decrease)20122011(Decrease)
<br />Assets
<br />Current and other assets$ 4,169,758$ 3,624,326$ 545,432$ 4,175,666$ 3,707,148$ 468,518
<br />Capital assets 15,905,997 17,012,545 (1,106,548) 6,872,677 6,913,746 (41,069)
<br />Total assets 20,075,755 20,636,871 (561,116) 11,048,343 10,620,894 427,449
<br />Liabilities
<br />Noncurrent liabilities outstanding9,327,285 9,363,568 (36,283) 13,102 14,268 (1,166)
<br />Other liabilities 374,124 357,096 17,028 66,526 25,321 41,205
<br />Total liabilities 9,701,409 9,720,664 (19,255) 79,628 39,589 40,039
<br />Net position
<br />Net investment in
<br />capital assets 7,126,016 7,686,960 (560,944) 6,872,677 6,913,746 (41,069)
<br />Restricted for
<br />Future expansion - - - 71,631 71,631 -
<br />Debt service 2,945,918 2,925,802 20,116 - - -
<br />Cable TV 20,126 25,453 (5,327) - - -
<br />Unrestricted 282,286 277,992 4,024,4074,294 3,595,928 428,479
<br />Total net position$ 10,374,346$ 10,916,207$ (541,861)$ 10,968,715$ 10,581,305$ 387,410
<br />net position ( 14.1 percent) represents resources that are subject to external restrictions on how
<br />they may be used. The remaining balance of XQUHVWULFWHGQHWSRVLWLRQ ($4,306,693ongoing
<br />obligations to citizens and creditors.
<br />
<br />At the end of the current fiscal year, the City is able to report positive balances in all three categories of net position, both for the City
<br />as a whole, as well as for its separate governmental and business-type activities. The same situation held true for the prior year.
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