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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 the 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
<br />consider other non -financial factors such as changes in economic conditions, population growth, zoning, and new or
<br />changed 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 $2,769,707 to $77,871,365 in fiscal 2022 up from $75,101,658 in fiscal
<br />2021.
<br />Assets
<br />Current and other
<br />Capital and other non -current
<br />Total Assets
<br />Total Deferred Outflows of Resources
<br />Liabilities
<br />Current
<br />Non -current
<br />Total Liabilities
<br />Total Deferred Inflows of Resources
<br />Net Position
<br />Net investment in capital assets
<br />Restricted for debt service
<br />Unrestricted
<br />Total Net Position
<br />Table A-1
<br />Condensed Statement of Net Position
<br />2022
<br />$ 32,660,889
<br />94,194,163
<br />126,855,052
<br />2021
<br />$ 39,513,369
<br />81,350,610
<br />120,863,979
<br />Increase
<br />(Decrease)
<br />$ (6,852,480)
<br />12,843,553
<br />5,991,073
<br />1,414,144
<br />1,698,107
<br />(283,963)
<br />9,803,732
<br />10,894,487
<br />(1,090,755)
<br />35,418,139
<br />34,408,284
<br />1,009,855
<br />45,221,871
<br />45,302,771
<br />(80,900)
<br />5,175,960
<br />58,323,263
<br />1,779,016
<br />17,769,086
<br />$ 77,871,365
<br />2,157,657
<br />54,669,744
<br />1,779,016
<br />18,652,898
<br />$ 75,101,658
<br />3,018,303
<br />3,653,519
<br />(883,812)
<br />$ 2,769,707
<br />16
<br />99
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