athens tn acfr fy2022

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CITY OF ATHENS, TENNESSEE
STATEMENT OF NET POSITION

June 30, 2022
Component Unit
Proprietary
Primary Government Athens
Governmental § Business-type Utilities
Activities Activities Total Board
ASSETS AND DEFERRED OUTFLOWS
ASSETS
Cash and cash equivalents $ 17,937,334 $ 524,137 $ 18,461,471 $ 26,290,644
Restricted cash 1,156,967 - 1,156,967 -
Investments 37,783,985 2,416,675 40,200,660 -
Receivables:
Customers, net - 18,464 18,464 7,113,173
Other 203,768 - 203,768 120,667
Property taxes, net 7,916,274 - 7,916,274 -
Other governments 3,909,896 - 3,909,896 -
Component unit/primary government 5,682 81,141 86,823 §5,516
Prepaid expenses - - - 78,237
Inventories 136,328 - 136,328 3,170,781
Net pension asset 9,015,016 - 9,015,016 -
Restricted stabilization reserve 205,396 - 205,396 -
Capital assets, net of depreciation 19,304,582 1,145,532 20,450,114 110,478,527
Nondepreciable capital assets 29,855,146 34,500 29,889,646 3,337,345
Total assets 127,430,374 4,220,449 131,650,823 150,644,890
DEFERRED OUTFLOWS OF RESOURCES
Deferred outflows related to OPEB 864,873 - 864,873 -
Deferred outflows related to pensions 5,467,657 71,618 5,539,275 3,852,768
Total assets and deferred outflows $133,762,904 $ 4,292,067 $ 138,054,971 $ 154,497,658
LIABILITIES, DEFERRED INFLOWS, AND NET POSITION
LIABILITIES
Accounts payable $ 3,254,183 $ 80,104 $ 3,334,287 $ 5,289,975
Accrued payroll and withholdings 1,639,343 - 1,639,343 -
Retainage payable 1,156,967 - 1,156,967 -
Due to component unit/primary government 55,516 - 55,516 86,823
Other current liabilities 189,757 - 189,757 963,986
Uneamed revenues 312,158 - 312,158 144,460
Customer deposits - - - 1,050,360
Noncurrent liabilities due in more than one year:
Net pension liability 2,239,316 84,590 2,323,906 4,919,394
OPEB liability 2,168,431 - 2,168,431 -
Long-term liabilities:
Due within one year 1,483,082 - 1,483,082 1,649,402
Due in more than one year 30,083,293 - 30,083,293 17,595,169
Total liabilities 42,582,046 164,694 42,746,740 31,699,569
DEFERRED INFLOWS OF RESOURCES
Deferred inflows related to property tax 7,487,863 - 7,487,863 -
Deferred inflows related to OPEB 409,457 - 409,457 -
Deferred inflows related to pensions 8,154,056 617 8,154,673 1,331,420
Total deferred inflows 16,051,376 617 16,051,993 1,331,420
NET POSITION
Net investment in capital assets 16,942,999 1,180,032 18,123,031 94,571,302
Restricted for:
Law enforcement 86,368 - 86,368 -
Animal shelter 33,660 - 33,660 -
Drug 91,719 - 91,719 -
Education 179,192 - 179,192 -
Stabilization reserve 205,396 - 205,396
Tourism 321,863 - 321,863 -
Pension 9,015,016 - 9,015,016 -
Debt service 10,137,093 - 10,137,093 -
Cemetery perpetual care:

Nonexpendable 99,536 - 99,536 -
Expendable 238,424 - 238,424 -
Unrestricted 37,778,216 2,946,724 40,724,940 26,895,367
Total net position 75,129,482 4,126,756 79,256,238 121,466,669
Total liabilities, deferred inflows, and net position $133,762,904 $4,292,067 $ 138,054,971 $ 154,497,658

The Notes to Financial Statements are an integral part of this statement.

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