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<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, 2023 and 2022,
<br />for governmental activities and business-type activities:
<br />
<br />2023 2022 Change
<br />Net position
<br />Governmental activities
<br />Net investment in capital assets 734,686$ 591,629$ 143,057$
<br />Restricted 695,979 726,801 (30,822)
<br />Unrestricted 958,806 900,318 58,488
<br />Total governmental activities 2,389,471 2,218,748 170,723
<br />Business-type activities
<br />Net investment in capital assets 1,193,870 1,232,736 (38,866)
<br />Unrestricted 455,794 420,313 35,481
<br />Total business-type activities 1,649,664 1,653,049 (3,385)
<br />Total net position 4,039,135$ 3,871,797$ 167,338$
<br />
<br />As of December 31,
<br />
<br />
<br />The City’s total net position at December 31, 2023 was $167,338 higher than the previous year-end. Of the
<br />increase, $170,723 came from governmental activities, slightly offset by a $3,385 decrease in business-type
<br />activities.
<br />
<br />Governmental activities net investment in capital assets increased, mainly from investments in capital assets
<br />and payments on outstanding bonds. Restricted net position decreased, mainly for amounts restricted for
<br />debt service. Unrestricted net position increased, mainly form the increase in the General Fund balance.
<br />
<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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