Government-Wide Financial Analysis
The following is a summary of condensed government-wide financial data for the current and prior
fiscal year (in thousands):
Govemmental Business-Type
Activities Activities Total
2021 2020 2021 2020 2021 2020
Current assets $ 304923 $ 278443 § 23,030 §$ 24,054 $ 327953 $ 302,497
Capital assets 362,520 333,460 178,108 W777 $40,628 310,577
Other noncurrent assets 119,745 123,435 — - 119,745 123,435
Total assets 787,188 735,338 201,138 201,17) 988,326 936,509
Deferred outflows of resources 97,681 45,103 953 348 98,634 45,451
Long-term liabilities 669,677 $84,361 67,608 80,835 737,285 665,196
Other liabilities 69.937 38,983 18,967 11,064 88,904 $0,047
Total liabilities 739,614 623,344 86,575 91,899 826,189 715,243
Deferred inflows of resources 136,191 128,112 3,634 660 139,825 428,772
Net investment in capital assets 235,154 224,166 106,737 102,882 341,891 327,048
Restricted 49.918 41,309 7,428 6,561 57,346 47,870
Unrestricted (276,008) (236,490) {2,283) (483) (278,291) (236,973)
Total net position $ 9064 § 28.985 $$ 111,882 $ 108960 $ 120946 $§ 137,945
As depicted in the table above, the largest portion of the City’s net position, $341.9 million, reflects
its investment in capital assets (e.g., land, buildings, machinery, and equipment) less any related
outstanding debt used to acquire those assets. The City uses its capital assets to provide services
to citizens; consequently, 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.
An additional portion of the City’s net position, $57.3 million, represents resources that are subject
to external restrictions on how they may be used (i.e., grants, capital projects, contributions, etc.).
The remaining balance of net position ($278.3 million) is considered unrestricted and represents
the City's ongoing obligations to citizens and creditors.
At the end of the current fiscal year, while the City’s unrestricted net position reflects a negative
balance due to the impact of GASB 68 - Accounting and Financial Reporting for Pensions and
GASB 75 - Accounting and Financial Reporting for Postemployment Benefits Other Than Pension
(OPEB). The City is able to report a positive net position for the government as a whole, as well as
for its separate Wastewater and Solid Waste activities. The same situation held true for the prior fiscal
year.
The restricted portion of net position $7.4 million reported within the City’s business-type
activities, primarily represents the regulatory funds set-aside for the closure of the Nashua Four
Hills Lined Landfill.
22
