Annual Comprehensive Financial Report 2021

Other Information. In addition to the basic financial statements and accompanying notes, this report
also presents combining statements referred to earlier in connection with non-major governmental funds.
Combining and individual statements and schedules can be found on pages 53-54 of this report.
GOVERNMENT-WIDE FINANCIAL ANALYSIS
As noted earlier, Net Position may serve over time as a useful indicator of a government's financial
position. In the case of the City, assets and deferred outflows exceeded liabilities and deferred inflows by
$41,380,122 as of September 30, 2021.
Net Position
Governmental Activities Business-type Activities Totals
2021 2020 2021 2020 2021 2020
Current and other assets $ 47,492,879 $ 41,375,373 $ 15,235,542 $ 5,838,395 $ 62,728,421 $ 47,213,768
Capital assets 31,102,888 24,367,697 19,704,541 16,616,674 50,807,429 40,984,371
Total assets 78,595,767 65,743,070 34,940,083 22,455,069 113,535,850 88,198,139
Deferred outflows of
resources 489,286 506,790 538,856 581,175 1,028,142 1,087,965
Long-term liabilities 39,952,348 30,431,595 16,291,299 15,978,644 56,243,647 46,410,239
Other liabilities 6,435,270 3,778,375 10,059,879 1,979,329 16,495,149 5,757,704
Total liabilities 46,387,618 34,209,970 26,351,178 17,957,973 72,738,796 52,167,943
Deferred inflows of
resources 383,423 295,263 61,651 49,076 445,074 344,339
Net position:
Net investment
in capital assets 3,708,559 3,113,430 4,677,953 833,237 8,386,512 3,946,667
Restricted 19,338,628 23,330,619 785,254 553,249 20,123,882 23,883,868
Unrestricted 9,266,825 5,300,578 3,602,903 3,642,709 12,869,728 8,943,287
Total net position $ 32,314,012 $ 31,744,627 $ 9,066,110 $ 5,029,195 $ 41,380,122 $ 36,773,822
A portion of the City's Net Position, $8,386,512 or 20.3%, reflects its investments in capital assets (e.g.,
land, construction in progress, buildings, improvements, machinery and equipment and infrastructure),
less any debt used to acquire those assets that is still outstanding. The City uses these capital assets to
provide service to citizens; consequently, these assets are not available for future spending. Although the
City's investment in its capital assets is reported net of related debt, it should be noted that the resources
needed to repay this debt must be provided from other sources, since the capital assets themselves cannot
be used to liquidate these liabilities.
An additional portion of the City's Net Position ($20,123,882 or 48.6%) represents resources that are
subject to external restriction on how they may be used. The remaining balance of unrestricted Net
Position ($12,869,728 or 31.1%) may be used to meet the government's ongoing obligations to citizens
and creditors.
At the end of the current fiscal year, the City is able to report a positive Net Position, both for the
government as a whole, as well as for its separate categories - governmental activities and business-type
activities.
Analysis of the City's Operations: The following table provides a summary of the City's operations for
the year ended September 30, 2021. On a government-wide basis, governmental activities increased the
City's Net Position by $569,385 and business-type activities increased the City's Net Position by
$4,036,915.
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