Changes in Fund Balances of Governmental Funds to the Statement of Activities General Fund Statement of Revenues, Expenditures and Changes in Fund Balance – Budget

MANAGEMENT’S DISCUSSION AND ANALYSIS (UNAUDITED) DECEMBER 31, 2020

statements because the resources of this fund are not available to support the City’s own program .

The City does not adopt an annual appropriated budget for its fiduciary funds .

The basic fiduciary fund financial statements can be found on pages 40-41 of this report .

Notes to the Financial Statements. The notes to the basic financial statements are considered an integral part of the financial statements since they provide additional information needed to gain a full understanding of the data provided in both the government-wide and fund financial statements . The notes to the financial statements can be found on pages 45-77 of this report .

Required Supplementary Information. In addition to the basic financial statements and accompanying notes, this report presents certain required supplementary information concerning the City of Arvada’s progress in funding its obligation to provide pension benefits and other postemployment benefits, which can be found on pages 79-81 .

Combining Statements. The combining statements referred to earlier in connection with the non-major governmental funds, internal service funds and fiduciary funds are presented following the required notes to the financial statements .

Government-wide Financial Analysis

As noted earlier, net position may serve over time as a useful indicator of a government financial position . At the close of December 31, 2020, the City’s assets and deferred outflows of resources exceeded liabilities and deferred inflows of resources by $951,745,000 . The following summaries of net position and changes in net position are presented for the current year and the previous year in comparison format .