|
<br />-16-
<br />GOVERNMENT-WIDE FINANCIAL STATEMENTS
<br />
<br />In addition to fund-based information, the current reporting model for governmental entities also requires
<br />the inclusion of two government-wide financial statements designed to present a clear picture of the City
<br />as a single, unified entity. These government-wide financial statements provide information on the total
<br />cost of delivering services, including capital assets and long-term liabilities.
<br />
<br />STATEMENT OF NET POSITION
<br />
<br />The Statement of Net Position essentially tells you what the City owns and owes at a given point in time,
<br />the last day of the fiscal year. Theoretically, net position represents the resources the City has leftover to
<br />use for providing services after its debts are settled. However, those resources are not always in spendable
<br />form, or there may be restrictions on how some of those resources can be used. Therefore, net position is
<br />divided into three components: net investment in capital assets, restricted, and unrestricted.
<br />
<br />The following table presents the components of the City’s net position as of December 31, 2020 and 2019,
<br />for governmental activities and business-type activities:
<br />
<br />2020 2019 Change
<br />Net position
<br />Governmental activities
<br />Net investment in capital assets 344,931$ 335,719$ 9,212$
<br />Restricted 765,096 794,416 (29,320)
<br />Unrestricted 1,019,820 856,234 163,586
<br />Total governmental activities 2,129,847 1,986,369 143,478
<br />Business-type activities
<br />Net investment in capital assets 1,291,806 1,311,032 (19,226)
<br />Unrestricted 422,201 454,037 (31,836)
<br />Total business-type activities 1,714,007 1,765,069 (51,062)
<br />Total net position 3,843,854$ 3,751,438$ 92,416$
<br />
<br />As of December 31,
<br />
<br />
<br />The City’s total net position at December 31, 2020 was $92,416 higher than the previous year-end. Of the
<br />increase, $143,478 came from governmental activities and was offset by a $51,062 decrease from
<br />business-type activities.
<br />
<br />The governmental activities restricted net position decreased $29,320, mainly due to payments on long-term
<br />debt in the debt service funds. Unrestricted net position increased $163,586, mainly due to positive
<br />operating results.
<br />
<br />The decrease in business-type activities net position was explained in the preceding discussion of the
<br />activities of the enterprise funds.
|