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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 in fiscal 2024 from fiscal 2023.
<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 />Net Position as a Percent of Total
<br />Net investment in capital assets
<br />Restricted
<br />Unrestricted
<br />Table A-1
<br />Condensed Statement of Net Position
<br />2024
<br />$ 29,660,285
<br />101,204,766
<br />130,865,051
<br />2023
<br />$ 31,866,563
<br />96,673,875
<br />128,540,438
<br />Increase
<br />(Decrease)
<br />$ (2,206,278)
<br />4,530,891
<br />2,324,613
<br />383,601 816,369 (432,768)
<br />9,760,324
<br />30,737,715
<br />40,498,039
<br />8,837,628
<br />33,043,134
<br />41,880,762
<br />922,696
<br />(2,305,419)
<br />(1,382,723)
<br />5,896,061 5,774,797 121,264
<br />66,966,175
<br />1,779,016
<br />16,109,361
<br />61,103,248
<br />1,779,016
<br />18,818,984
<br />5,862,927
<br />(2,709,623)
<br />$ 84,854,552 $ 81,701,248 $ 3,153,304
<br />78.9 % 74.8 %
<br />2.1 2.2
<br />19.0 23.0
<br />100.0 % 100.0 %
<br />16
<br />79
<br />
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