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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 $21,064,577 at the close of the most recent fiscal year.
<br />By far, the largest portion of the City's net position ( 66 percent) reflects its investment in capital assets (e.g., land, buildings,
<br />machinery and equipment); less any related debt used to acquire those assets that are still outstanding. The City uses these capital
<br />assets to provide services to citizens; consequently, these assets are not available for future spending. Although the City's investment
<br />in its capital assets is reported net of related debt, it should be noted that the resources needed to repay this debt must be provided from
<br />other sources, since the capital assets themselves cannot be used to liquidate these liabilities.
<br />Assets
<br />Current and other assets
<br />Capital assets
<br />Total assets
<br />Deferred outflows of resources
<br />Deferred pension resources
<br />Liabilities
<br />Noncurrent liabilities outstanding
<br />Other liabilities
<br />Total liabilities
<br />Deferred outflows of resources
<br />Deferred pension resources
<br />City of Centerville's Summary of Net position
<br />Governmental Activities Business -type Activities
<br />Increase Increase
<br />2015 2014 (Decrease) 2015 2014 (Decrease)
<br />$ 2,694,410 $ 4,111,423 $ (1,417,013) $ 5,212,075 $ 4,322,341 $ 889,734
<br />14,844,955 15,616,337 (771,382) 6,713,084 7,042,412 (329,328)
<br />17,539,365 19,727,760 (2,188,395) 11,925,159 11,364,753 560,406
<br />36,129 - 36,129 14,572 - 14,572
<br />7,959,225 8,728,978 (769,753) 139,269 16,687 122,582
<br />240,076 376,643 (136,567) 11,521 25,458 (13,937)
<br />8,199,301 9,105,621 (906,320) 150,790 42,145 108,645
<br />71,656 - 71,656 28,901 - 28,901
<br />Net position
<br />Net investment in
<br />capital assets
<br />7,229,955
<br />6,921,337
<br />308,618 6,713,084 7,042,412 (329,328)
<br />Restricted for
<br />Debt service
<br />2,376,939
<br />2,969,448
<br />(592,509) - -
<br />Street projects
<br />-
<br />165,065
<br />(165,065) - - -
<br />Cable TV
<br />26,936
<br />20,403
<br />6,533 - - -
<br />Unrestricted
<br />(329,293)
<br />545,886
<br />(875,179) 5,046,956 4,280,196 766,760
<br />Total net position_$ 9,304,537 $10,622,139 $(1,317,6021 $11,760,040 $11,322,608 $ 437,432
<br />An additional portion of the City's net position (11.4 percent) represents resources that are subject to external restrictions on how they
<br />may be used. The remaining balance of unrestricted net position ($4,717,663) 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 for the City as a
<br />whole, as well as for its separate governmental and business -type activities with the exemption of unrestricted net position for
<br />governmental activities. The same situation held true for the prior year.
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