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Financial Analysis of the Utilities
<br />Our analysis of the Utilities begins on page22in 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 />Statementof Net Position, and the Statementof Revenues, Expenses and Changes in Net Positionreport 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 the net position. You can think of the Utilities’ net position(the difference between assets and
<br />liabilities) as one way to measure financialhealth or financial position. Over time, increases or decreases in the Utilities’
<br />net positionisone 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 Positionis presented in Table A-1. As
<br />can be seen from the Table, net positionincreased $2,916,305to $67,409,812in fiscal 2019up from $64,493,507in fiscal
<br />2018.
<br />TABLE A-1
<br />Condensed Statement of Net Position
<br />Increase
<br />20192018(Decrease)
<br />Assets
<br />Current and other$27,684,972$25,143,528$2,541,444
<br />Capital71,997,59072,584,672(587,082)
<br />Total Assets99,682,56297,728,2001,954,362
<br />Total Deferred Outflows of Resources311,650656,321(344,671)
<br />Liabilities
<br />Current7,783,9127,546,521237,391
<br />Non-current24,191,51225,535,347(1,343,835)
<br />Total Liabilities31,975,42433,081,868(1,106,444)
<br />Total Deferred Inflows of Resources608,976809,146(200,170)
<br />Net Position
<br />Net investment in capital assets49,526,31748,668,538857,779
<br />Restricted for debt service1,261,3591,261,359-
<br />Unrestricted16,622,13614,563,6102,058,526
<br />Total Net Position$67,409,812$64,493,507$2,916,305
<br />16
<br />106
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