2022 Annual Comprehensive Financial Report

Governmental

Business-Type

Total

Activities

Activities

(Continued)

2022

2021

2022

2021

2022

2021

Transfers

(16,976) $

$

(5,851)

$

16,976

$

5,851

$

$

Change in Net Position

23,647

28,939

14,125

(1,202)

37,772

27,737

Beg. Net Position

281,938

252,999

883,921

885,123

1,165,859

1,138,122

Prior Period Restatement Beg. Net Position, Restated

2,633

2,633

284,571

252,999

883,921

885,123

1,168,492

1,138,122

Ending Net Position

308,218 $

281,938 $

898,046 $

883,921 $

1,206,264 $

1,165,859 $

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

FY 2022 (7,677) 9,492 (17,169)

FY 2021

$ Change

% Change (10474.3%)

Interest Revenue Interest Expense

$

$

74

$

(7,751)

11,882 (11,808)

(2,390)

(20.1%) (45.4%)

Net

$

$

$

(5,361)

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

FY 2022 (6,781) 9,261 (16,042)

FY 2021

$ Change

% Change (1191.9%)

Interest Revenue Interest Expense

$

$

621

$

(7,402)

9,256 (8,635)

5

0.1%

Net

$

$

$

(7,407)

(85.8%)

A. Governmental Activities Governmental activities increased the City’s net position by approximately $23.6 million, down from an approximate $28.9 million increase last year. Contributing to the increase was increases in property tax revenue, sales tax revenue and hotel/motel occupancy tax from increased travel after the peak of the pandemic. The Internal Service Funds are combined with governmental activities at the entity-wide level.

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