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CITY OF PEQUOT LAKES, MINNESOTA
<br />MANAGEMENT’S DISCUSSION AND ANALYSIS
<br />DECEMBER 31, 2019
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<br />6
<br />THE CITY AS A WHOLE
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<br />The City’s combined net position increased $482,185 from a year ago. Our analysis below focuses on the net position (Table 1)
<br />and changes in net position (Table 2) of the City’s governmental and business-type activities.
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<br />Table 1
<br />Net Position
<br />Governmental Business-Type Total
<br />Activities Activities Government
<br />2019 2018 2019 2018 2019 2018
<br />Current and Other Assets 6,910,797$ 6,719,030$ 2,264,607$ 2,013,722$ 9,175,404$ 8,732,752$
<br />Noncurrent Assets 9,379,684 9,587,286 2,800,001 2,842,892 12,179,685 12,430,178
<br />Total Assets 16,290,481 16,306,316 5,064,608 4,856,614 21,355,089 21,162,930
<br />Deferred Outflows of Resources 490,200 612,929 2,690 5,572 492,890 618,501
<br />Current Liabilities 233,780 277,069 172,387 220,948 406,167 498,017
<br />Noncurrent Liabilities 1,174,789 1,237,109 825,679 888,765 2,000,468 2,125,874
<br />Total Liabilities 1,408,569 1,514,178 998,066 1,109,713 2,406,635 2,623,891
<br />Deferred Inflows of Resources 715,985 913,804 7,756 8,318 723,741 922,122
<br />Net Position:
<br />Net Investment in
<br />Capital Assets 8,413,522 8,499,823 1,948,188 1,929,950 10,361,710 10,429,773
<br />Restricted 109,274 126,453 - - 109,274 126,453
<br />Unrestricted 6,133,331 5,864,987 2,113,288 1,814,205 8,246,619 7,679,192
<br />Total Net Position 14,656,127$ 14,491,263$ 4,061,476$ 3,744,155$ 18,717,603$ 18,235,418$
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<br />The net position of the City’s governmental activities increased by $164,864 (1.14 percent). Unrestricted net position (the part of
<br />net position that can be used to finance day-to-day operations without constraints established by debt covenants, enabling
<br />legislation, or other legal requirements) increased by $268,344 compared to the prior year.
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<br />The net position of the City’s business-type activities increased by $317,321 (8.48 percent) from the prior year. Such increase can
<br />be attributed to the results of current year operations.
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