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Financial Analysis of the Utilities
<br /> Our analysis of the Utilities begins on page 22 in the Financial Section. One of the most important questions 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, population growth, zoning, and new or changed
<br /> government legislation.
<br /> Net Position.To begin our analysis, a summary of the Utilities' Statements of Net Position is presented in Table A-1.As
<br /> can be seen from the Table, net position increased $3,801,182 to$64,493,507 in fiscal 2018 up from $60,692,325 in fiscal
<br /> 2017.
<br /> TABLE A-1
<br /> Condensed Statement of Net Position
<br /> Increase
<br /> 2018 2017 (Decrease)
<br /> Assets
<br /> Current and other $ 25,143,528 $ 24,002,032 $ 1,141,496
<br /> Capital 72,584,672 60,450,880 12,133,792
<br /> Total Assets 97,728,200 84,452,912 13,275,288
<br /> Total Deferred Outflows of Resources 656,321 1,094,877 (438,556)
<br /> Liabilities
<br /> Current 7,349,702 6,823,820 525,882
<br /> Non-current 25,732,166 17,254,683 8,477,483
<br /> Total Liabilities 33,081,868 24,078,503 9,003,365
<br /> Total Deferred Inflows of Resources 809,146 776,961 32,185
<br /> Net Position
<br /> Net investment in capital assets 48,668,538 45,755,479 2,913,059
<br /> Restricted for debt service 1,261,359 997,660 263,699
<br /> Unrestricted 14,563,610 13,939,186 624,424
<br /> Total Net Position $ 64,493,507 $ 60,692,325 $ 3,801,182
<br /> 16
<br /> 103
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