Part 3 - Provide an overall assessment of the city's financial condition to the City Commissioner using the information provided, both financial and non-financial. Be sure to reference how GASB standards are reflected in the financial statements and what role GASB plays in the financial reporting process. Your paper should be 2-3 pages in length and follow APA guidelines.

CITY OF ARBORLAND Statements of Net Position As of December 31 (In Thousands) 2020 2019 2018 Governmental Activities Business- type Activities Governmental Activities Business- type Activities Governmental Activities Business- type Activities Total Total Total $ 3.452 $ 1,487 $ 1,800 291 1,809 $ 5,540 733 2,747 253 769 179 $ 7.340 1,024 4.556 261 $ 1,663 181 1,608 $ 4.531 638 2.947 251 101 8,468 1.472 $6.194 819 4.555 257 149 11,974 1.865 171 167 6,424 $ 4,939 948 3,337 176 - 216 9.616 26 84 58 3,966 48 3.506 13,265 49 3.192 _9,299 2,180 37.600 (15.039) 24,741 34.040 2,101 14,455 (5,782) 10.774 14.740 4,281 52,055 (20,821) 35,515 48,780 2,070 37,183 (16,732) 22.521 30.989 1,804 17,775 (9,776) 9.803 13,309 3.874 54,958 (26.508) 32.324 44.298 1.971 39,347 (19,680) 21.638 28,062 1.604 14,801 (7,402) 9,003 12.195 3,575 54,148 127,082 30.641 40.257 Assets Current assets: Cash Investments Receivables (net) Prepaid expenses Inventories Total current assets Capital assets Land Depreciable assets Accumulated depreciation Total capital assets (net) Total assets Liabilities Accounts payable Deferred revenue Other, current Total current liabilities Bonds payable Total liabilities Net Position Net investment in capital assets Restricted for Capital projects Debt service Unrestricted (deficit) Total net position 467 376 788 1,633 295 200 1.580 32 1.754 3.366 15.900 19.266 2.047 32 1,954 4,033 22,400 26,433 412 30 1.443 1,885 16,900 18,785 190 566 7,500 8,066 667 6.500 1.633 2,451 24,400 26,851 1,489 3.164 15,900 19.064 1.928 42 1,659 3,629 22,400 26,029 170 465 6,500 6,965 7.167 9,104 4,027 13,131 7,945 3,065 11,010 5,366 2.067 7,433 140 933 4.597 $14.774 140 933 8,143 $22,347 151 1,033 3,075 $12.204 151 1,033 5.253 $17,447 130 818 2.683 8.997 130 818 5.846 $14.227 3546 $ 7573 2,178 3.163 $ 5,230 243 443 CITY OF ARBORLAND Statement of Activities For the Year Ended December 31, 2020 (in thousands) Program Revenues Charges for Services Operating Grants and Contributions Net Expense Revenue and Changes in Net Position Business Governmental type Activities Activities Capital Grants and Contributions Expenses Total 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 99 168 $ 5.716 1.926 7.958 2.804 2.166 2.455 948 23.973 2,895 $26.868 $ 531 716 1.530 524 554 $495 $ 15,185) 11.1111 16,260) (2.280) (1,117) (831) 19481 (17.7321 1.619 $15,185) (1,111) (6,260) (2.280) (1.117) 1831) 1948) (17.732) 2.330 (15.402) 1.886 + 495 + 3,860. 5,218 $9,078 $1,886 $502 (17.732) $2,330 2,330 17,296 2.190 716 17.296 2.190 716 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 31 100 20,3020 2,570 12 204 $14.774 2,330 5.243 $7.573 100 20.302 4.900 17,447 $22.347 CITY OF ARBORLAND Statement of Activities For the Year Ended December 31, 2019 (in thousands) Net (Expense) Revenue and Changes in Net Position Program Revenues Charges Operating Grants and Contributions Capital Grants and Contributions Governmental Activities Business- type Activities Functions/Programs Expenses Services Total 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 $4,133 1,737 5,239 2,129 3,762 1,055 804 18,859 $ 148 209 1,943 147 322 $ (3.985) (1.511) (3.266) (1,982) (3,090) (554) $ (3,985) (1.511) (3.266) (1.982) (3,090) (554) (804) (15,192) $350 1804) 2,769 4,290 (15,192) 4,287 350 10 $360 $23,146 $7,059 (15,192) (15,179) 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 13,619 3,664 916 200 18,399 3,207 8,997 $12,204 13.619 3,664 916 200 18.399 3,220 14.227 $17,447 5.230 $5.243 445 CITY OF ARBORLAND Statements of Net Position As of December 31 (In Thousands) 2020 2019 2018 Governmental Activities Business- type Activities Governmental Activities Business- type Activities Governmental Activities Business- type Activities Total Total Total $ 3.452 $ 1,487 $ 1,800 291 1,809 $ 5,540 733 2,747 253 769 179 $ 7.340 1,024 4.556 261 $ 1,663 181 1,608 $ 4.531 638 2.947 251 101 8,468 1.472 $6.194 819 4.555 257 149 11,974 1.865 171 167 6,424 $ 4,939 948 3,337 176 - 216 9.616 26 84 58 3,966 48 3.506 13,265 49 3.192 _9,299 2,180 37.600 (15.039) 24,741 34.040 2,101 14,455 (5,782) 10.774 14.740 4,281 52,055 (20,821) 35,515 48,780 2,070 37,183 (16,732) 22.521 30.989 1,804 17,775 (9,776) 9.803 13,309 3.874 54,958 (26.508) 32.324 44.298 1.971 39,347 (19,680) 21.638 28,062 1.604 14,801 (7,402) 9,003 12.195 3,575 54,148 127,082 30.641 40.257 Assets Current assets: Cash Investments Receivables (net) Prepaid expenses Inventories Total current assets Capital assets Land Depreciable assets Accumulated depreciation Total capital assets (net) Total assets Liabilities Accounts payable Deferred revenue Other, current Total current liabilities Bonds payable Total liabilities Net Position Net investment in capital assets Restricted for Capital projects Debt service Unrestricted (deficit) Total net position 467 376 788 1,633 295 200 1.580 32 1.754 3.366 15.900 19.266 2.047 32 1,954 4,033 22,400 26,433 412 30 1.443 1,885 16,900 18,785 190 566 7,500 8,066 667 6.500 1.633 2,451 24,400 26,851 1,489 3.164 15,900 19.064 1.928 42 1,659 3,629 22,400 26,029 170 465 6,500 6,965 7.167 9,104 4,027 13,131 7,945 3,065 11,010 5,366 2.067 7,433 140 933 4.597 $14.774 140 933 8,143 $22,347 151 1,033 3,075 $12.204 151 1,033 5.253 $17,447 130 818 2.683 8.997 130 818 5.846 $14.227 3546 $ 7573 2,178 3.163 $ 5,230 243 443 CITY OF ARBORLAND Statement of Activities For the Year Ended December 31, 2020 (in thousands) Program Revenues Charges for Services Operating Grants and Contributions Net Expense Revenue and Changes in Net Position Business Governmental type Activities Activities Capital Grants and Contributions Expenses Total 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 99 168 $ 5.716 1.926 7.958 2.804 2.166 2.455 948 23.973 2,895 $26.868 $ 531 716 1.530 524 554 $495 $ 15,185) 11.1111 16,260) (2.280) (1,117) (831) 19481 (17.7321 1.619 $15,185) (1,111) (6,260) (2.280) (1.117) 1831) 1948) (17.732) 2.330 (15.402) 1.886 + 495 + 3,860. 5,218 $9,078 $1,886 $502 (17.732) $2,330 2,330 17,296 2.190 716 17.296 2.190 716 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 31 100 20,3020 2,570 12 204 $14.774 2,330 5.243 $7.573 100 20.302 4.900 17,447 $22.347 CITY OF ARBORLAND Statement of Activities For the Year Ended December 31, 2019 (in thousands) Net (Expense) Revenue and Changes in Net Position Program Revenues Charges Operating Grants and Contributions Capital Grants and Contributions Governmental Activities Business- type Activities Functions/Programs Expenses Services Total 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 $4,133 1,737 5,239 2,129 3,762 1,055 804 18,859 $ 148 209 1,943 147 322 $ (3.985) (1.511) (3.266) (1,982) (3,090) (554) $ (3,985) (1.511) (3.266) (1.982) (3,090) (554) (804) (15,192) $350 1804) 2,769 4,290 (15,192) 4,287 350 10 $360 $23,146 $7,059 (15,192) (15,179) 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 13,619 3,664 916 200 18,399 3,207 8,997 $12,204 13.619 3,664 916 200 18.399 3,220 14.227 $17,447 5.230 $5.243 445