FY 17-18 FY 18-19 FY 19-20 Assets $ 131,759,583 $ 133,138,590 $ 138,965,232

Deferred outflows of resources ( e . g . Town ’ s share of future pension expenses )

2,565,727 3,683,445 4,274,644

Liabilities 61,368,514 63,781,739 71,120,725

Deferred inflows of resources ( e . g . property taxes paid in advance )

1,570,464 2,202,319 1,880,170

NET POSITION $ 71,386,332 $ 70,837,977 $ 70,238,981

total assets and deferred outflows of resources and total liabilities and deferred inflows of resources . A positive net position means Town assets exceed liabilities .

The Town had a positive net position of $ 70,238,981 as of June 30 , 2020 . Overall , net position decreased by $ 0.6 million in FY 19-20 , primarily due to increases in long-term liabilities for employee post-retirement benefits .

Approximately 93 percent of net position ($ 65.5 million ) reflects the Town ’ s investment in capital assets . The net investment in the capital assets category is defined as the Town ’ s investment in its own assets ( e . g . land , buildings , equipment and infrastructure ) less any related debt still out-standing issued to acquire those items . The Town uses these assets to provide services to residents .

An additional $ 4.2 million of net position is restricted . These resources are subject to specific external legal restrictions that limit the Town ’ s ability to use these funds beyond the purpose for which they are provided . The remaining $ 0.5 million of net position is unrestricted .

( in millions ) $ 100

$ 75

$ 50

Unrestricted $ 538,109 ( 0.7 %) Restricted $ 4,196,004 ( 6.0 %)

$ 25

0 12-13

13-14 14-15 15-16 16-17 17-18 18-19 19-20 ( fiscal year )

Capital assets $ 65,504,868

( 93.3 %)

2020 Popular Annual Financial Report 11