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Financial Analysis of the Utilities
<br /> Our analysis of the Utilities begins onpage 22 in the Financial Section. One of the most importantquestions asked about
<br /> the Utilities' finances is"Is the Utilities as a whole better off or worse off as a result of this year's activities?"The
<br /> Statement of Net Position, and the Statement of Revenues, Expenses and Changes in Net Position report information
<br /> about the Utilities' activities in a way that will help answer this question. These two statements report the net position of
<br /> the Utilities and changes in this net position. You can think of the Utilities' net position (the difference between assets and
<br /> liabilities) as one way to measure financial health or financial position. Over time, increases or decreases in the Utilities'
<br /> net position is one indicator of whether its financial health is improving or deteriorating. However, you will need to consider
<br /> other non-financial factors such as changes in economic conditions, populationgrowth, zoning, and new or changed
<br /> government legislation.
<br /> Net Position. To begin our analysis, a summary of the Utilities' Statements of Net Position ispresented in Table A-1. As
<br /> can be seen from the Table, net position increased $2,497,367 to$60,692,325 in fiscal 2017 up from $58,194,958 in fiscal
<br /> 2016.
<br /> TABLE A-1
<br /> Condensed Statement of Net Position
<br /> Increase
<br /> 2017 2016 (Decrease)
<br /> Assets
<br /> Current and other $ 24,002,032 $ 23,328,553 $ 673,479
<br /> Capital60,450,880 59,150,780 1,300,100
<br /> Total Assets 84,452,912 82,479,333 1,973,579
<br /> Total Deferred Outflows of Resources 1,094,877 1,685,181 (590,304)
<br /> Liabilities
<br /> Current 6,823,820 6,355,909 467,911
<br /> Non-current 17,254,683 19,156,552 (1,901,869)
<br /> Total liabilities 24,078,503 25,512,461 (1,433,958)
<br /> Total Deferred Inflows of Resources 776,961 457,095 319,866
<br /> Net Position
<br /> Net investment in capital assets 45,755,479 43,266,893 2,488,586
<br /> Restricted for debt service 997,660 997,660 -
<br /> Unrestricted 13,939,186 13,930,405 8,781
<br /> Total Net Position $ 60,692,325 $ 58,194,958 $ 2,497,367
<br /> 16
<br /> 80
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