2023 Annual Comprehensive Report

Governmental

Business-Type

Activities

Activities

Total

(Continued)

2023

2022

2023

2022

2023

2022

Transfers

$ (11,930) $ (16,976) $ 11,930 $ 16,976$

$

Change in Net Position

81,214

23,647

21,668

14,125

102,882

37,772

Beg. Net Position

308,218 281,938

898,046 883,921

1,206,264 1,165,859

Prior Period Restatement Beg. Net Position, Restated

2,633

2,633

308,218 284,571

898,046 883,921

1,206,264 1,168,492

Ending Net Position

$ 389,432 308,218 $ $ 919,714 898,046 $ $ 1,309,146 1,206,264 $

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

FY 2023

FY 2022

$ Change

% Change

Interest Revenue Interest Expense

$

6,940

$

(7,677)

$

14,617

190.4%

10,198 (3,258)

9,492

706

7.4%

Net

$

$

(17,169)

$

13,911

81.0%

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

FY 2023

FY 2022

$ Change

% Change

Interest Revenue Interest Expense

$

(6,781)

$

12,822

(189.1%)

$

6,041

12,017 (5,976)

9,261

2,756

29.8% 62.7%

Net

$

(16,042)

$

10,066

$

A. Governmental Activities Governmental activities increased the City’s net position by approximately $81.2 million, compared to an approximate $23.6 million increase last year. Contributing to the increase was increases in property tax revenue, sales tax revenue, ABC profits, and investment income. The Internal Service Funds are combined with governmental activities at the entity-wide level.

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