9 Part 1 of 2 Required information The government-wide financial statements for the City of Arborland for a three-year period are presented. CITY OF ARBORLAND Statements of Net Position As of December 31 (in thousands) 2023 Business Governmental -type Activities Activities Total Governmental Activities 2022 Business -type Activities Total Governmental Activities 2021 Business -type Activities Total Assets Current assets: Cash Investments Receivables (net) Prepaid expenses Inventories Total current assets $ 25,448 745 3,347 265 38 $ 1,920 303 1,821 20 $ 27,368 1,048 $ 7,531 1,598 5,168 5,347 $ 11,599 193 1,620 $19,130 1,791 $ 21,223 913 $ 10,859 $ 32,082 6,967 285 1,451 1,469 2,465 183 191 1,484 1,104 3,949 17 200 29,843 4,134 108 33,977 1,001 1,061 240 16,928 13,490 30,418 24,963 12,612 37,575 Capital assets: Land Depreciable assets. 2,300 38,200 Accumulated depreciation (21,039) 3,301 25,338 (6,081) 5,601 63,538 (27,120) 3,270 44,256 Total capital assets (net) 19,461 22,558 42,019 Total assets 49,304 26,692 75,996 (18,432) 29,094 46,022 1,816 17,835 (12,776) 6,875 20,365 5,086 62,091 (31,208) 35,969 66,387 1,983 33,347 (22,080) 13,250 38,213 1,616 16,001 (11,002) 6,615 3,599 49,348 (33,082) 19,865 19,227 57,440 Liabilities Accounts payable 1,930 1,067 2,997 Deferred revenue 44 Other, current 1,766 Total current liabilities 3,740 Bonds payable Total liabilities Net Position Net investment in capital assets Restricted for: Capital projects Debt service Unrestricted (deficit) Total net position 17,100 320 1,387 8,900 44 2,086 5,127 26,000 1,569 670 2,003 4,242 23,600 388 202 1,957 670 2,205 1,993 355 2,348 198 198 2,209 230 2,439 590 4,832 4,400 585 4,985 20,840 10,287 31,127 27,842 7,620 8,210 31,220 21,900 7,700 29,600 36,052 26,300 8,285 34,585 22,650 10,122 32,772 13,473 8,177 | 21,650 6,938 4,479 11,417 260 945 4,609 $ 28,464 6,283 $16,405 260 945 10,892 163 163 1,045 3,499 3,978 $ 44,869 $ 18,180 $ 12,155 $ 30,335 1,045 7,477 $ 11,913 142 830 4,003 142 830 6,463 10,466 $ 10,942 $ 22,855 Functions/Programs Governmental Activities: General government Judicial Public safety Health and sanitation Culture and recreation Road maintenance Interest on long-term debt Total governmental activities Business-type activities Total government Functions/Programs Governmental Activities: General government Judicial Public safety Health and sanitation Culture and recreation Road maintenance Interest on long-term debt Total governmental activities Business-type activities Total government CITY OF ARBORLAND Statement of Activities For the Year Ended December 31, 2023 (in thousands) Charges for Services Program Revenues Operating Grants and Contributions Contributions Net (Expense) Revenue and Changes in Net Position Governmental Business- type Activities Activities Capital Grants and $ (5,079) Expenses $ 5,730 $ 651 1,938 1,316 $ 111 7,970 2,130 768 (511) (5,072) 2,864 644 (2,220) 2,766 566 $ 1,095 2,515 125 960 24,743 3,495 5,432 7,618 2,219 3,098 1,095 (1,105) (171) (960) (15,118) 127 $ 4,250 $28,238 $13,050 $ 3,098 $ 1,222 $(15,118) $ 4,250 Total $ (5,079) (511) (5,072) (2,220) (1,105) (171) (960) (15,118) 4,250 $(10,868) General Revenues: Property taxes Grants and contributions not restricted to specific programs Investment earnings Special item-gain on sale of land Total general revenues and special items Change in net position Net position-January 1 Net position-December 31 19,096 19,096 3,690 3,690 1,916 1,916 700 700 25,402 25,402 10,284 18,180 $ 28,464 4,250 12,155 $16,405 14,534 30,335 $ 44,869 Expenses CITY OF ARBORLAND Statement of Activities For the Year Ended December 31, 2022 (in thousands) Charges for Services Program Revenues Operating Capital Grants and Grants and Contributions Contributions $ 4,193 $ 160 1,749 221 377 5,251 1,955 270 2,369 159 4,962 346 $ 362 1,655 801 Net (Expense) Revenue and Changes in Net Position Governmental Activities $ (4,033) (1,151) (3,026) (2,210) (4,254) (854) Business- type Activities Total $ (4,033) 1,704 21,883 4,299 $26,182 2,841 5,490 $8,331 1,448 362 22 (1,704) (17,232) (1,151) (3,026) (2,210) (4,254) (854) (1,704) $ 1,213 (17,232) 1,213 $ 1,448 $ 384 $(17,232) $ 1,213 $(16,019) General Revenues: Property taxes 16,019 16,019 Grants and contributions not restricted to specific programs 4,564 4,564 Investment earnings 1,516 1,516 Special item-gain on sale of land 1,400 1,400 Total general revenues and special items Change in net position 23,499 23,499 Net position-January 1 6,267 11,913 Net position-December 31 $ 18,180 1,213 10,942 $12,155 7,480 22,855 $ 30,335 CITY OF ARBORLAND Statement of Activities For the Year Ended December 31, 2021 Expenses (in thousands) Charges for Services Program Revenues Capital Grants and Operating Grants and Contributions Contributions Net (Expense) Revenue and Changes in Net Position Governmental Business- type Activities Activities Functions/Programs Governmental Activities: General government Judicial Public safety Health and sanitation Culture and recreation Road maintenance $ 4,222 Total 2,561 4,713 3,596 $ 121 222 1,735 816 $ (4,101) $ (4,101) $ 69 (2,270) (2,270) 22 (2,956) (2,956) (2,780) (2,780) 4,024 784 $ 1,040 (2,200) (2,200) 1,858 - 484 (1,374) (1,374) Interest on long-term debt 1,548 Total governmental activities 22,522 3,678 575 1,040 (1,548) (17,229) (1,548) (17,229) Business-type activities 3,237 4,008 32 $ 803 803 Total government $25,759 $7,686 $ 575 $ 1,072 $(17,229) $ 803 $(16,426) General Revenues: Property taxes 14,300 Grants and contributions not restricted to specific programs Investment earnings Special item-gain on sale of land Total general revenues and special items Change in net position Net position-January 1 Net position-December 31 14,300 3,110 861 1,050 19,321 2,092 9,821 $ 11,913 803 10,139 $10,942 3,110 861 1,050 19,321 2,895 19,960 $ 22,855 Additional information follows: Population: Year 2023: 30,490, Year 2022: 28,361, Year 2021: 26,444. Debt limit remained at $20,350,000 for each of the three years. Net cash from operations is generally 80 percent of total revenues each year. Required a. Select X for the financial performance measures in Illustration 10-4 that can be calculated for the City of Arborland based on the information provided. Performance Measures 1. Unrestricted net position 2. Debt ratio 3. Current ratio 4. Change in net position 5. Interperiod equity 6. Business-type activities self-sufficiency 7. Capital asset condition