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Government -wide Financial Analysis
<br />As noted earlier, net assets may serve over time as a useful indicator of a City's financial
<br />position. In the case of the City of St. Anthony, Minnesota, assets exceeded liabilities by
<br />$21,601,533 at the close of the most recent fiscal year.
<br />A portion of the City of St. Anthony, Minnesota's net assets (33.9 %) reflects its investment in
<br />capital assets (e.g., land, buildings, machinery, and equipment); less any related debt used to
<br />acquire those assets that are still outstanding. The City of St. Anthony, Minnesota uses these
<br />capital assets to provide services to citizens; consequently, these assets are not available for
<br />future spending. Although the City of St. Anthony, Minnesota's investment in its capital assets
<br />is reported net of related debt, it should be noted that the resources needed to repay this debt
<br />must be provided from other sources, since the capital assets themselves cannot be used to
<br />liquidate these liabilities.
<br />City of St. Anthony, Minnesota's Net Assets
<br />An additional portion of the City of St. Anthony, Minnesota's net assets (38.9 %) represents
<br />resources that are subject to external restrictions on how they may be used. The remaining
<br />balance of unrestricted net assets (27.2 %) may be used to meet the government's ongoing
<br />obligations to citizens and creditors.
<br />At the end of the current fiscal year, the City of St. Anthony, Minnesota is able to report positive
<br />balances in all three categories of net assets, both for the City as a whole, as well as for its
<br />separate governmental and business -type activities.
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<br />Governmental Activities
<br />Business -Type
<br />Activities
<br />Totals
<br />2009
<br />2008
<br />2009
<br />2008
<br />2009
<br />2008
<br />Current and other assets
<br />$17,475,776
<br />$17,594,836
<br />$1,279,178
<br />$1,604,909
<br />$18,754,954
<br />$19,199,745
<br />Capital assets
<br />36,520,639
<br />32,981,668
<br />7,017,685
<br />6,910,674
<br />43,538,324
<br />39,892,342
<br />Total assets
<br />$53,996,415
<br />$50,576,504
<br />$8,296,863
<br />$8,515,583
<br />$62,293,278
<br />$59,092,087
<br />Long term liabilities outstanding
<br />$33,174,378
<br />$30,990,701
<br />$1,931,013
<br />$2,080,627
<br />$35,105,391
<br />$33,071,328
<br />Other liabilities
<br />5,088,842
<br />3,731,067
<br />497,512
<br />526,426
<br />5,586,354
<br />4,257,493
<br />Total liabilities
<br />$38,263,220
<br />$34,721,768
<br />$2,428,525
<br />$2,607,053
<br />$40,691,745
<br />$37,328,821
<br />Net assets:
<br />Invested in capital assets net of related debt
<br />$2,315,775
<br />$3,000,881
<br />$5,017,685
<br />$4,745,674
<br />$7,333,460
<br />$7,746,555
<br />Restricted
<br />8,289,022
<br />3,271,180
<br />120,000
<br />120,000
<br />8,409,022
<br />3,391,180
<br />Unrestricted
<br />5,128,398
<br />9,582,675
<br />730,653
<br />1,042,856
<br />5,859,051
<br />10,625,531
<br />Total net assets
<br />$15,733,195
<br />$15,854,736
<br />$5,868,338
<br />$5,908,530
<br />$21,601,533
<br />$21,763,266
<br />An additional portion of the City of St. Anthony, Minnesota's net assets (38.9 %) represents
<br />resources that are subject to external restrictions on how they may be used. The remaining
<br />balance of unrestricted net assets (27.2 %) may be used to meet the government's ongoing
<br />obligations to citizens and creditors.
<br />At the end of the current fiscal year, the City of St. Anthony, Minnesota is able to report positive
<br />balances in all three categories of net assets, both for the City as a whole, as well as for its
<br />separate governmental and business -type activities.
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