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Government-wide Financial Analysis
<br />As noted earlier, net positionmay serve over time as a useful indicator of a government’s financial position. In the case of the City,
<br />assets exceeded liabilities by $21,686,182at the close of the most recent fiscal year.
<br />By far, the largest portion of the City’s net position ( 63percent) 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 thesecapital
<br />assets to provide services to citizens; consequently, these assets are not available for future spending. Although the City’s investment
<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 />City of Centerville’s Summary of Net position
<br />Governmental ActivitiesBusiness-type Activities
<br />IncreaseIncrease
<br />20132012(Decrease)20132012(Decrease)
<br />Assets
<br />Current and other assets$4,394,334$4,169,758$224,576$4,174,554$4,175,666$(1,112)
<br />Capital assets16,220,21415,905,997314,2176,852,1376,872,677(20,540)
<br />Total assets20,614,54820,075,755538,79311,026,69111,048,343(21,652)
<br />Liabilities
<br />Noncurrent liabilities outstanding9,586,9319,327,285259,64615,71513,1022,613
<br />Other liabilities336,438374,124(37,686)15,97366,526(50,553)
<br />Total liabilities9,923,3699,701,409221,96031,68879,628(47,940)
<br />Net position
<br />Net investment in
<br />capital assets6,907,3847,126,016(218,632)6,852,1376,872,677(20,540)
<br />Restricted for
<br />Future expansion---71,63171,631-
<br />Debt service3,140,8532,945,918194,935---
<br />Capital projects237,170-237,170---
<br />Cable TV15,06120,126(5,065)---
<br />Unrestricted 390,711282,286108,4254,071,2354,024,40746,828
<br />Total net position$ 10,691,179$ 10,374,346$316,833$ 10,995,003$ 10,968,715$26,288
<br />An additional portion of the City’s netposition (16.0percent) represents resources that are subject to external restrictions on how they
<br />may be used. The remaining balance of unrestricted net position ($4,461,946) may be used to meet the City’s ongoing obligations to
<br />citizens and creditors.
<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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