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Government-wide Financial Analysis
<br /> As noted earlier,net position may serve over time as a useful indicator of a government's financial position. In the case of the City,
<br /> assets exceeded liabilities by$21,944,747 at the close of the most recent fiscal year.
<br /> By far,the largest portion of the City's net position(64 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 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 Activities Business-type Activities
<br /> Increase Increase
<br /> 2014 2013 (Decrease) 2014 2013 (Decrease)
<br /> Assets
<br /> Current and other assets $ 4,111,423 $ 4,394,334 $ (282,911) $ 4,322,341 $ 4,174,554 $ 147,787
<br /> Capital assets 15,616,337 16,220,214 (603,877) 7,042,412 6,852,137 190,275
<br /> Total assets 19,727,760 20,614,548 (886,788) 11,364,753 11,026,691 338,062
<br /> Liabilities
<br /> Noncurrent liabilities outstanding 8,728,978 9,586,931 (857,953) 16,687 15,715 972
<br /> Other liabilities 376,643 336,438 40,205 25,458 15,973 9,485
<br /> Total liabilities 9,105,621 9,923,369 (817,748) 42,145 31,688 10,457
<br /> Net position
<br /> Net investment in
<br /> capital assets 6,921,337 6,907,384 13,953 7,042,412 6,852,137 190,275
<br /> Restricted for
<br /> Future expansion - - - - 71,631 (71,631)
<br /> Debt service 2,969,448 3,140,853 (171,405) -
<br /> Street projects 165,065 237,170 (72,105) - - -
<br /> Cable TV 20,403 15,061 5,342 - - -
<br /> Unrestricted 545,886 390,711 155,175 4,280,196 4,071,235 208,961
<br /> Total net position $10,622,139 $10,691,179 $ (69,040) $11,322,608 $10,995,003 $ 327,605
<br /> An additional portion of the City's net position(14.4 percent)represents resources that are subject to external restrictions on how they
<br /> may be used. The remaining balance of unrestricted net position($4,826,082)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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