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Notes to the financial statements—The notes provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements. The notes to the financial statements can be found on pages 18-44 of this report. Other information—In addition to the basic financial statements and accompanying notes, this report also presents required supplementary information concerning the Town’s net pension liability/(asset)— Employees’ retirement system, the Town’s total pension liability related to its length of service awards program and the Town’s budgetary comparison schedules for the General Fund, Highway—Town Wide Fund, Fire Protection Fund, Water Fund, and the Garbage and Refuse Fund. Required Supplementary Information and related notes to the required supplementary information can be found on pages 45-52 of this report. The combining statements referred to earlier in connection with nonmajor governmental funds are presented as other supplementary information immediately following the Required Supplementary Information in the Supplementary Information section on pages 53-54 of this report. Government-wide Overall Financial Analysis As noted earlier, net position over time may serve as a useful indicator of a government’s financial position. In the case of the Town, assets and deferred outflows of resources exceeded liabilities and deferred inflows of resources by $4,147,788 at the close of the most recent fiscal year, as compared to $3,589,923, at the close of the fiscal year ended December 31, 2023. Table 1, as shown below, presents condensed statements of net position. Table 1—Condensed Statements of Net Position—Primary Government Governmental Activities December 31, December 31, 2024 2023 Current assets $ 12,692,576 $ 10,336,810 Noncurrent assets 7,596,903 7,002,754 Total assets 20,289,479 17,339,564 Deferred outflows of resources 1,914,285 1,864,076 Total deferred outflows of resources 1,914,285 1,864,076 Current liabilities 4,328,783 1,744,535 Noncurrent liabilities 11,529,617 11,476,091 Total liabilities 15,858,400 13,220,626 Deferred inflows of resources 2,197,576 2,393,091 Total deferred inflows of resources 2,197,576 2,393,091 Net position: Net investment in capital assets 2,409,449 2,143,936 Restricted 4,621,163 4,394,845 Unrestricted (2,882,824) (2,948,858) Total net position $ 4,147,788 $ 3,589,923 -3-