COG Comprehensive Annual Financial Report

available, expenditures will be applied first to restricted fund balance and then to unrestricted fund balance. The Finance Director has the authority to deviate from this policy if it is in the best interest of the City and promotes sound financial practices. Within unrestricted fund balance, the order in which the expenditures will be applied is as follows: Committed, Assigned, Unassigned, if multiple fund balances are reported for the same program. 10. Net Position The government-wide and business-type fund financial statements utilize a net position presentation. Net position is categorized as net investment in capital assets, restricted and unrestricted. Net Investment in Capital Assets is intended to reflect the portion of net position which is associated with non-liquid capital assets less outstanding capital asset-related debt. Restricted Net Position represents liquid assets (typically generated from certain revenues and bond proceeds) which have third-party (statutory, bond covenant or granting agency) limitations on their use. Restrictions may also be imposed by law through constitutional provisions or enabling legislation.

At June 30, 2018, net position restricted by enabling legislation includes:

Water Resources Capital Reserve Solid Waste Capital Reserve Parking Facilities Capital Reserve

$ $ $

9,820,800 2,734,803

2,180

Unrestricted Net Position represents net position that does not meet the definitions of “Restricted” or “Net Investment in Capital Assets”. Unrestricted net position may be assigned or committed for management’s or the Board’s specific internal purposes. Unrestricted net position does not equate to net position available for appropriation which is calculated using statutory guidelines.

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