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CITY OF ORONO, MINNESOTA
<br />MANAGEMENT’S DISCUSSION AND ANALYSIS
<br />YEAR ENDED DECEMBER 31, 2017
<br />
<br />
<br />(13)
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<br />Other Information – Combining statements and schedules for nonmajor funds are presented
<br />immediately following the notes to basic financial statements.
<br />
<br />The following is a summary of the City’s net position:
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<br />2017 2016
<br />Current and Other Assets 13,112,921$ 15,985,121$
<br />Capital Assets 26,281,233 24,880,357
<br />Total Assets 39,394,154 40,865,478
<br />Deferred Outflows of Resources 4,353,759 6,999,964
<br />Noncurrent Liabilities Outstanding 11,832,262 21,473,054
<br />Other Liabilities 2,933,855 3,064,277
<br />Total Liabilities 14,766,117 24,537,331
<br />Deferred Inflows of Resources 5,335,406 1,415,094
<br />Net Position:
<br />Net Investment in Capital Assets 19,020,035 16,660,990
<br />Restricted 3,699,095 9,046,977
<br />Unrestricted 894,132 (3,794,950)
<br />Total Net Position 23,613,262$ 21,913,017$
<br />2017 2016
<br />Current and Other Assets 6,667,612$ 7,089,909$
<br />Capital Assets 18,002,404 17,566,024
<br />Total Assets 24,670,016 24,655,933
<br />Deferred Outflows of Resources 96,026 204,881
<br />Noncurrent Liabilities Outstanding 980,586 1,062,072
<br />Other Liabilities 1,072,332 1,303,084
<br />Total Liabilities 2,052,918 2,365,156
<br />Deferred Inflows of Resources 85,107 66,884
<br />Net Position:
<br />Net Investment in Capital Assets 16,940,333 16,427,467
<br />Restricted - -
<br />Unrestricted 5,687,684 6,001,307
<br />Total Net Position 22,628,017$ 22,428,774$
<br />Governmental Activities
<br />Business-Type Activities
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<br />The City’s financial position is the product of many factors. For example, the determination of the City’s
<br />net investment in capital assets involves many assumptions and estimates, such as current and
<br />accumulated depreciation amounts. A conservative versus liberal approach to depreciation estimates,
<br />as well as capitalization policies, will produce a significant difference in the calculated amounts.
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<br />Net position increased by $1,899,488 ($1,700,245 Governmental, $199,243 Business-Type) this year,
<br />largely due to increased road funding and a decrease in Public Safety Expenses.
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