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City of Elk River
<br />Management's Discussion and Analysis
<br />GOVERNMENT -WIDE FINANCIAL ANALYSIS (CONTINUED)
<br />Assets
<br />Current and other assets
<br />Capital assets
<br />Total assets
<br />Deferred Outflows of Resources
<br />Deferred OPEB resources
<br />Deferred pension resources
<br />Total deferred outflows of resources
<br />Liabilities
<br />Other liabilities
<br />Noncurrent liabilities
<br />Total liabilities
<br />Deferred Inflows of Resources
<br />Deferred OPEB resources
<br />Deferred pension resources
<br />Deferred lease resources
<br />Total deferred inflows of resources
<br />Net Position
<br />Net investment in capital assets
<br />Restricted
<br />Unrestricted
<br />Total net position
<br />City of Elk River's Summary of Net Position
<br />Governmental Activities
<br />Business -Type Activities
<br />Increase
<br />Increase
<br />2022
<br />2021
<br />(Decrease)
<br />2022
<br />2021
<br />(Decrease)
<br />$ 52,094,579
<br />$ 54,324,030
<br />$ (2,229,451)
<br />$ 53,468,950
<br />$ 62,144,712 $
<br />(8,675,762)
<br />144,536,694
<br />140,641,604
<br />3,895,090
<br />131,672,213
<br />122,264,788
<br />9,407,425
<br />196,631,273
<br />194,965,634
<br />1,665,639
<br />185,141,163
<br />184,409,500
<br />731,663
<br />81,827
<br />85,487
<br />(3,660)
<br />11,058
<br />11,553
<br />(495)
<br />12,666,297
<br />7,586,984
<br />5,079,313
<br />1,866,126
<br />2,242,888
<br />(376,762)
<br />12,748,124
<br />7,672,471
<br />5,075,653
<br />1,877,184
<br />2,254,441
<br />(377,257)
<br />5,920,358
<br />6,690,658
<br />(770,300)
<br />8,076,913
<br />8,702,867
<br />(625,954)
<br />84,990,762
<br />71,879,094
<br />13,111,668
<br />45,797,114
<br />51,982,645
<br />(6,185,531)
<br />90,911,120
<br />78,569,752
<br />12,341,368
<br />53,874,027
<br />60,685,512
<br />(6,811,485)
<br />107,304
<br />134,572
<br />(27,268)
<br />14,500
<br />18,185
<br />(3,685)
<br />750,069
<br />9,769,924
<br />(9,019,855)
<br />83,351
<br />2,832,246
<br />(2,748,895)
<br />229,506
<br />-
<br />229,506
<br />5,112,108
<br />-
<br />5,112,108
<br />1,086,879
<br />9,904,496
<br />(8,817,617)
<br />5,209,959
<br />2,850,431
<br />2,359,528
<br />83,281,488
<br />75,360,937
<br />7,920,551
<br />93,539,999
<br />87,943,523
<br />5,596,476
<br />9,676,717
<br />12,112,762
<br />(2,436,045)
<br />1,779,016
<br />1,779,016
<br />-
<br />24,423,193
<br />26,690,158
<br />(2,266,965)
<br />32,615,346
<br />33,405,459
<br />(790,113)
<br />$ 117,381,398
<br />$ 114,163,857
<br />$ 3,217,541
<br />$ 127,934,361
<br />$ 123,127,998 $
<br />4,806,363
<br />An additional portion of the City's net position (4.6%) represents resources that are subject to external
<br />restrictions on how they may be used. The remaining balance of unrestricted net position (23.3%) may
<br />be used to meet the City's ongoing obligations to citizens and creditors.
<br />At the end of the current fiscal year, the City is able to report positive balances in all three categories of
<br />net position, both for the City as a whole, as well as for its separate governmental and business -type
<br />activities. The same situation held true for the prior fiscal year.
<br />Governmental Activities. Governmental activities increased the City's net position by $3,217,541,
<br />thereby accounting for 40.1 % of the growth in the net position of the City. Key elements of this change
<br />are as follows:
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