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Notes to the Basic Financial Statements <br />The notes to the basic financial statements 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 <br />the financial statements follow the basic financial statements. <br />Other Information <br />In addition to the basic financial statements and accompanying notes, this report also presents certain <br />required supplemental information. This information includes budgetary comparison schedules, more <br />detailed information about the City’s agreement with the California Public Employees Retirement System <br />(CalPERS) for the defined benefit pension plan, more detailed information on the City’s Other Post <br />Employment Benefit Plan (OPEB), and a detailed description of the City’s Long Term Debt. <br />GOVERNMENT-WIDE FINANCIAL ANALYSIS <br />Net Position – As noted, net position may serve over time as a useful indicator of the City’s financial <br />position. In the case of the City, total assets exceeded liabilities by $186.0 million at the close of fiscal <br />year 2018-19, a decrease of 2.2%. <br />The City’s $191.2 million net investment in capital assets such as infrastructure, land, buildings, <br />machinery, and equipment is by far the largest portion of the City’s net position. Because the City uses <br />these capital assets to provide services to residents, these assets are not available for future spending. <br />Although investment in capital assets is reported net of related debt, it should be noted that the resources <br />needed to repay these investments must be provided from other sources (future income), since the capital <br />assets themselves cannot be used to liquidate these liabilities. <br />Of the City’s total net position, $63.1million represents resources that are subject to external restrictions <br />on how they may be used. The remaining balance of ($68.3) million represents an unrestricted net <br />position, which may be used to meet the City’s ongoing obligations to citizens and creditors within the <br />restrictions set forth by various funding sources. <br />8155