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<br />Management Discussion and Analysis
<br />February 6,2004
<br />Page III
<br />
<br />Government-wide Financial Analysis
<br />
<br />As noted earlier, net assets may serve over time as a useful indicator of a government's financial position. In the case of
<br />the City, assets exceeded liabilities by $15,719,469 at the close of the most recent fiscal year. By far, the largest portion
<br />of the City's net assets (40.8 percent) reflects its investment in capital assets (e.g., land, buildings, machinery and
<br />equipment); less any related debt used to acquire those assets that is still outstanding. The City uses these capital assets
<br />to provide services to citizens; consequently, these assets are not available for future spending. Although the City's
<br />investment in its capital assets is reported net of related debt, it should be noted that the resources needed to repay this
<br />debt must be provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities.
<br />
<br />Net Assets
<br />
<br />Governmental
<br />Activities
<br />
<br />Business-type
<br />Activities
<br />
<br />ASSETS
<br />Cash and cash temporary investments
<br />Receivables
<br />Accrued interest
<br />Delinquent taxes
<br />Accounts
<br />Special assessments
<br />Intergovernmental
<br />Inventories
<br />Prepaids
<br />Deferred charges
<br />Fixed assets (net of accumulated depreciation)
<br />
<br />$
<br />
<br />$
<br />
<br />3,355,328
<br />
<br />5,125,841
<br />
<br />10,112
<br />
<br />13,959
<br />90,743
<br />7,078
<br />460,568
<br />4,698
<br />
<br />119,508
<br />408,255
<br />
<br />11 ,423
<br />
<br />5,358
<br />11 ,608
<br />5,462,200
<br />
<br />3,957
<br />4,717,942
<br />
<br />TOTAL ASSETS
<br />
<br />11,182,053
<br />
<br />8,626,525
<br />
<br />LIABILITIES
<br />Accounts payable
<br />Accrued salaries payable
<br />Contracts payable
<br />Due to other governments
<br />Accrued interest payable
<br />Deposits payable
<br />Unearned revenue
<br />Long-term liabilities
<br />Due within one year
<br />Bonds payable
<br />Due in more than one year
<br />Compensated absences
<br />Bonds payable
<br />
<br />155,062
<br />5,645
<br />46,180
<br />3,040
<br />49,443
<br />24,300
<br />14,370
<br />
<br />544
<br />798
<br />
<br />3,756
<br />9,076
<br />
<br />375,000
<br />
<br />70,000
<br />
<br />9,477
<br />2,920,000
<br />
<br />2,418
<br />400,000
<br />
<br />TOTAL LIABILITIES
<br />
<br />3,602,517
<br />
<br />486,592
<br />
<br />NET ASSETS
<br />
<br />Invested in capital assets, net of related debt
<br />Restricted for:
<br />Capital projects
<br />Debt service
<br />Unrestricted
<br />
<br />2,167,200
<br />
<br />4,247,942
<br />
<br />71,631
<br />
<br />3,095,838
<br />2,316,498
<br />
<br />3,820,360
<br />
<br />TOTAL NET ASSETS
<br />
<br />$
<br />
<br />$
<br />
<br />8,139,933
<br />
<br />7,579,536
<br />
<br />Total
<br />
<br />$ 8,481,169
<br />
<br />24,071
<br />90,743
<br />126,586
<br />868,823
<br />4,698
<br />11,423
<br />5,358
<br />15,565
<br />10,180,142
<br />
<br />19,808,578
<br />
<br />155,606
<br />6,443
<br />46,180
<br />6,796
<br />58,519
<br />24,300
<br />14,370
<br />
<br />445,000
<br />
<br />11,895
<br />3,320,000
<br />
<br />4,089,109
<br />
<br />6,415,142
<br />
<br />71,631
<br />3,095,838
<br />6,136,858
<br />
<br />$ 15,719,469
<br />
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