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GOVERNMENT -WIDE FINANCIAL STATEMENTS In addition to fund -based- ittformatipn, the current reporting model for governmental entities also Muires .the inclusion .of two government -Wide findnciaf-statements. designed to present a clear picture ol:• the City as a single: unified entity. These government=wide financial Statements provide in%rination on the total cost of delivering services, including capital assets, and long-term liabilities.. S'rATIUMEN OF NET POSITION The Statement of Net Position essentially tells you what the City*owns and owes at given point in tithe, on the last:day of the fiscal year. Theoretically, tiet position represents the resources the City has leftover to use for providing services after its debts are settled. However, those resources are. not always iii spendable form, or -.there may be..restrictions on how some of those resources can be used. Therefore, net position -isdivided into thtee components:: hotinvestment, in capital assets, restrictedL acid unrestricted. The following table presents the components of the City's net position as of Decerber 31, 2024, and 2023, for governmental activities and business -type activities: As 6fDecember*31, 2024 2023 Chango Netposition Governmental activities Net investment in capital assets . 781,780 .S 734.686 $ 47,0.94. Restricted 670,716 6.95;979. (25,263) Unrestricted 1,153,448 806 958, 194,642 Total governmental activities 2,605,944 2,38.9,471 1�,4 7 3 Business -type activities Net investment in capital assets 1;16I,981 1;:193,976 (31,889) Unrestiicted 490,892 455,7.94 35.098 Total business -type activities 1.;65.2,873 1,64rj,664 3.'09. Total net position 'S 41258;817 S 4,039:135 S .2.19,682 Tile Citj,'s total net position at December 31. 2024, was $21%682 higher than. -the previous year-end which- includes the error correction previously mentioned.. Of the increase, $216,473 carve froth governmental activities and a $3,209*increase in business -type activities. Governmental activities. -:net investment in capital assets increased, mainly from. investments in capital assets and payments on outstanding bonds. Restricted net position .decreased, Thainly for amounts restricted for debt service. Unrestricted net position increased, mainly from theincrease in the General. Fund balance. The change in business -type activities. net .position was explained in the preceding discussion of the activities. of the enterprise funds.