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<br />GOVERNMENT-WIDE FINANCIAL STATEMENTS
<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 />STATEMENT OF NET POSITION
<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 />The following table presents the components of the City’s net position as of December 31, 2022 and 2021,
<br />for governmental activities and business-type activities:
<br />2022 2021 Change
<br />Net position
<br />Governmental activities
<br />Net investment in capital assets 591,629$ 462,018$ 129,611$
<br />Restricted 726,801 751,623 (24,822)
<br />Unrestricted 900,318 946,198 (45,880)
<br />Total governmental activities 2,218,748 2,159,839 58,909
<br />Business-type activities
<br />Net investment in capital assets 1,232,736 1,262,271 (29,535)
<br />Unrestricted 420,313 446,631 (26,318)
<br />Total business-type activities 1,653,049 1,708,902 (55,853)
<br />Total net position 3,871,797$ 3,868,741$ 3,056$
<br />As of December 31,
<br />The City’s total net position at December 31, 2022 was $3,056 higher than the previous year-end.
<br />Governmental activities net investment in capital assets increased, mainly from investments in capital
<br />assets. Restricted net position decreased, mainly for amounts restricted for debt service. Unrestricted net
<br />position decreased $45,880 as a result of continued investment in capital assets.
<br />The decrease in business-type activities net position was explained in the preceding discussion of the
<br />activities of the enterprise funds.
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