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<br />
<br />City of Orono’s Summary of Net Position
<br />
<br />Increase Increase
<br />2022 2021 (Decrease)2022 2021 (Decrease)
<br />Assets
<br />Current and other assets 26,526,906$ 26,013,907$ 512,999$ 7,623,357$ 6,822,206$ 801,151$
<br />Capital assets, net of depreciation 36,349,163 35,089,693 1,259,470 21,036,145 20,139,433 896,712
<br />Total Assets 62,876,069 61,103,600 1,772,469 28,659,502 26,961,639 1,697,863
<br />Deferred Outflows of Resources
<br />Deferred other postemployment benefits resources - 129,109 (129,109) - 23,403 (23,403)
<br />Deferred pension resources 7,469,420 3,786,052 3,683,368 185,284 192,938 (7,654)
<br />Total Deferred Outflows or Resources 7,469,420 3,915,161 3,554,259 185,284 216,341 (31,057)
<br />Liabilities
<br />Noncurrent liabilities outstanding 31,599,197 23,169,933 8,429,264 1,415,029 1,212,714 202,315
<br />Other liabilities 2,735,733 2,647,795 87,938 701,304 409,502 291,802
<br />Total Liabilities 34,334,930 25,817,728 8,517,202 2,116,333 1,622,216 494,117
<br />Deferred Inflows of Resources
<br />Deferred lease resources 729,978 - 729,978 - - -
<br />Deferred other postemployment benefits resources - 149,243 (149,243) - 27,053 (27,053)
<br />Deferred pension resources 229,236 5,090,758 (4,861,522) 153 250,440 (250,287)
<br />Total Deferred Inflows or Resources 959,214 5,240,001 (4,280,787) 153 277,493 (277,340)
<br />Net Position
<br />Net investment in capital assets 33,174,764 31,430,458 1,744,306 20,387,984 19,404,787 983,197
<br />Restricted 2,704,755 3,075,294 (370,539) - - -
<br />Unrestricted (828,174) (544,720) (283,454) 6,340,316 5,873,484 466,832
<br />Total Net Position 35,051,345$ 33,961,032$ 1,090,313$ 26,728,300$ 25,278,271$ 1,450,029$
<br />Net Position as a Percent of Total
<br />Net Investment in
<br />Capital Assets 94.6%92.5%76.3%76.8%
<br />Restricted 7.7%9.1%0.0%0.0%
<br />Unrestricted -2.4%-1.6%23.7%23.2%
<br />100.0%100.0%100.0%100.0%
<br />Governmental Activities Business-type Activities
<br />An additional portion of the City’s net position represents resources that are subject to external restrictions on how they
<br />may be used. The remaining balance of unrestricted net position may be used to meet the City’s ongoing obligations to
<br />citizens and creditors.
<br />
<br />At the end of the current fiscal year, the City is able to report positive balances in the net investment in capital asset and
<br />restricted categories. The same situation held true for the prior fiscal year.
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