2020 Comprehensive Annual Financial Report

Governmental Activities

Business-Type Activities 2020 2019

Total

(Continued)

2020

2019

2020

2019

Transfers

$ (10,565) $ (19,296) $ 10,565 $ 19,296 $

$

Change in Net Position

17,016

(13,159)

55,036

44,389

72,052

31,230

Beg. Net Position Prior Period Restatement Beg. Net Position, restated

235,983

249,142

830,087

727,929 57,769 785,698

1,066,070

977,071 57,769 1,034,840

235,983

249,142

830,087

1,066,070

Ending Net Position

$ 252,999 $ 235,983 $ 885,123 $ 830,087 $ 1,138,122 $ 1,066,070

Table A-3 Summary of Financing/Interest Earnings - Governmental Activities (In thousands of dollars)

FY2020 $5,103 11,161 ($6,058)

FY2019 $7,891 10,975 ($3,084)

$ Change ($2,788) 186 ($2,974)

% Change -35.3% 1.7% -96.4%

Interest Revenue Interest Expense Net

Summary of Financing/Interest Earnings - Business Activities (In thousands of dollars)

FY2020 $4,308 8,510 ($4,202)

FY2019 $6,411 7,603 ($1,192)

$ Change ($2,103) 907 ($3,010)

% Change -32.8% 11.9% -252.5%

Interest Revenue Interest Expense Net

A. Governmental Activities Governmental activities increased the City’s net position by approximately $17.0 million, up from an approximate $13.2 million decrease last year. Contributing to the increase was increases in property tax revenue from a tax rate increase and increases in federal and state grant revenue for reimbursement for street and sidewalk capital improvements. The Internal Service Funds are combined with governmental activities at the entity-wide level.

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