ACFR - FY2020 5-28-21 FINAL - Flipbook - Page 28
Government Wide Financial Analysis
Statement of Net Position
As noted earlier, net position may serve over time as a useful indicator of a government’s financial position. In
the case of the City, assets exceeded liabilities by $115,083,396 at the close of the fiscal year ended
September 30, 2020. The table below reflects the condensed government-wide Statement of Net Position.
Table 2: Statement of Net Position
The largest portion of the City’s net position reflects its investment in capital assets (e.g. land, buildings,
infrastructure, and improvements other than buildings, vehicles and equipment), less any related debt used to
acquire such assets. Net investment in capital assets represent 82.69% of the total net position. The City uses
these capital assets to provide a variety of services to its residents. Accordingly, these assets are not available
for future spending. Although the City's investment in its capital assets is reported net of related debt, it should
be noted that the resources needed to repay this debt must be provided from other sources, since the capital
assets themselves cannot be used to liquidate these liabilities.
Restricted Net Position of $11,259,733 reflects net position that is restricted by an outside third party as to its
use. The most significant restrictions for governmental activities include net for capital projects based on the
voter approved one cent sales tax legislation and net position restricted for community development due to
collection within the City’s Community Redevelopment district. Business-type activities include debt related
restrictions on net position for renewal and replacement and restricted net position for capital projects for
impact fees collected but not spent.
Unrestricted net position of $8,655,478 is available to be used to meet the City’s ongoing obligation to citizens
and creditors.
City of Eustis, Florida
Statement of Net Position
as of September 30
Business-type Activities
Governm ental Activities
2020
2019
Total
2019
2020
2019
2020
Assets
Current and other assets
$
Capital Assets (Net)
Total Assets
Deferred Outflow s of Resource
17,967,956
$
17,030,059
$
21,330,493
$
20,758,994
$
39,298,449
$
37,789,053
66,219,747
62,026,794
43,855,329
44,708,512
110,075,076
106,735,306
84,187,703
79,056,853
65,185,822
65,467,506
149,373,525
144,524,359
2,989,367
1,540,074
242,101
132,409
3,231,468
1,672,483
3,228,769
1,447,515
1,390,944
1,016,706
4,619,713
2,464,221
Liabilities
Current and other liabilities
Long-term liabilities
17,138,807
13,052,692
12,787,291
13,869,890
29,926,098
26,922,582
Total Liabilities
20,367,576
14,500,207
14,178,235
14,886,596
34,545,811
29,386,803
2,556,645
2,439,953
419,140
530,663
2,975,785
2,970,616
62,646,999
59,969,021
32,521,186
33,274,730
95,168,185
93,243,751
4,763,432
5,588,178
6,496,301
6,975,120
11,259,733
12,563,298
Deferred Inflow s of Resources
Net Position:
Net Investm ent in
Capital Assets
Restricted
Unrestricted
Total Net Position
(3,157,583)
$
64,252,848
11,813,061
(1,900,432)
$
63,656,767
11
$
50,830,548
9,932,806
$
50,182,656
8,032,374
8,655,478
$
115,083,396
$
113,839,423
