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CITY OF NEW BRIGHTON, MINNESOTA
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<br />December 31, 2013
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<br />The basic fiduciary fund financial statement can be found on Statement 9 of this report.
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<br />Notes to the Financial Statements. The notes provide additional information that is essential to a full
<br />understanding of the data provided in the government-wide and fund financial statements. The Notes to the
<br />Financial Statements can be found following Statement 9 of this report.
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<br />The combining statements referred to earlier in connection with nonmajor governmental funds and internal service
<br />funds are presented immediately following the required supplementary information on budgetary comparisons.
<br />Combining and individual fund statements and schedules can be found on Statements 11 through 25 of this report.
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<br />Government-wide Financial Analysis
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<br />As noted earlier, net position may serve over time as a useful indicator of
<br />case of the City of New Brighton, assets exceeded liabilities by $ 67,694,137 at the close of the most recent fiscal
<br />year.
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<br />A portion of the City of New Brighton net position reflects its investment in capital assets (e.g., land, buildings.
<br />machinery, and equipment), less any related debt used to acquire those assets that are still outstanding. This
<br />increased by $ 115,021 in 2013 to $ 52,187,793. The primary reasons for this were due to depreciation of
<br />$ 3,414,036 and paying off debt principal in the amount of $ 4,785,000. The City of New Brighton uses these
<br />capital assets to provide services to citizens; consequently, these assets are not available for future spending.
<br />Although the City of New Brighton investment in its capital assets is reported net of related debt, it should be
<br />noted that the resources needed to repay this debt must be provided from other sources, since the capital assets
<br />themselves cannot be used to liquidate these liabilities.
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<br />An a 1,207,779) represents resources that are subject
<br />to external restrictions on how they may be used. The remaining balance of unrestricted net position ($ 14,298,565)
<br />may be used to meet the go
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<br />At the end of the current fiscal year, the City of New Brighton is able to report positive balances in all three
<br />categories of net position, both for the government as a whole, as well as for its s eparate governmental and business-
<br />type activities.
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<br />City of New Brighton Net Position
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<br />2013 2012 2013 2012 2013 2012
<br />Current and other assets 63,790,797$ 76,188,472$ 2,801,287$ 3,405,543$ 66,592,084$ 79,594,015$
<br />Capital assets 45,081,120 46,521,517 11,511,673 11,326,255 56,592,793 57,847,772
<br /> Total assets 108,871,917$ 122,709,989$ 14,312,960$ 14,731,798$ 123,184,877$ 137,441,787$
<br />Long-term liabilities
<br /> outstanding 43,366,780$ 46,894,319$ 158,971$ 149,326$ 43,525,751$ 47,043,645$
<br />Other liabilities 11,872,774 15,657,631 92,215 91,742 11,964,989 15,749,373
<br /> Total liabilities 55,239,554$ 62,551,950$ 251,186$ 241,068$ 55,490,740$ 62,793,018$
<br />Net position:
<br />Invested in capital assets,
<br /> net of related debt 40,676,120$ 40,746,517$ 11,511,673$ 11,326,255$ 52,187,793$ 52,072,772$
<br />Restricted 1,207,779 1,337,498 - - 1,207,779 1,337,498
<br />Unrestricted 11,748,464 18,074,024 2,550,101 3,164,475 14,298,565 21,238,499
<br /> Total net position 53,632,363$ 60,158,039$ 14,061,774$ 14,490,730$ 67,694,137$ 74,648,769$
<br />TotalsGovernmental Activities Business-type Activities
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