athens tn acfr fy2023

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City of Athens, Tennessee

Management’s Discussion and Analysis
June 30, 2023

$641,876 in public safety expenditures, primarily due to vacancies in police and
related employee benefits.

$864,465 in highways and streets due to vacancies and related employee benefits,
traffic signals not installed prior to year end, traffic signal loop repairs and annual

paving not getting done before year end.

$217,679 in parks and recreation primarily due to vacancies and related benefits and
several maintenance projects not completed prior to year end.

$7,673 due to multiple line items being under budget in animal control.

$49,078 more in financing uses due to unrealized losses on investments.

Capital Asset and Debt Administration

Capital assets. The City of Athens’ investment in capital assets for its governmental and business-type
fund activities as of June 30, 2023, was $67,984,598 (net of accumulated depreciation). This investment in
capital assets includes land, buildings, other improvements, equipment, and infrastructure.

Major capital asset events during the current fiscal year consisted primarily of the purchase of machinery
and equipment for the various city departments and school construction.

City of Athens
Capital Assets
Governmental Activities Business-type Activities Total
2023 2022 2023 2022 2023 2022

Buildings and improvements $ 22,178,084 $23,707,469 $1,517,930 $1,517,930 $ 23,696,014 $25,225,399
Infrastructure 10,365,452 10,379,902 - - 10,365,452 10,379,902
Furniture and office equipment 9,034,161 8,466,285 29,864 29,864 9,064,025 8,496,149
Machinery and equipment 7,177,214 7,104,009 1,678,915 1,678,915 8,856,129 8,782,924
Land 3,221,556 3,221,556 34,500 34,500 3,256,056 3,256,056
Construction in progress 45,411,153 26,633,590 - - 45,411,153 26,633,590
$ 97,387,620 $79,512,811 $3,261,209 $3,261,209 $100,648,829 $82,774,020

Additional information on the City of Athens’ capital assets can be found in Note 2 on pages 38-41 of this
report.

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