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LA PORTE REDEVELOPMENT AUTHORITY <br />MANAGEMENT'S DISCUSSION AND ANALYSIS <br />FOR THE YEAR ENDED SEPTEMBER 30, 2012 <br />NOTES TO THE BASIC FINANCIAL STATEMENTS <br />The accompanying notes to the basic financial statements provide information essential to a full <br />understanding of the government -wide and fund financial statements. The notes -to the basic <br />financial statements can be found on pages 12 through 20 in this report.`' <br />GOVERNMENT -WIDE FINANCIAL ANALYSIS <br />Net assets may serve over time as useful indicator of the Authority's=fidiincial position. In the <br />case of the Authority, liabilities exceeded assets by $9,325,403 as ofSeptdinber 30, 2011 <br />The following table provides a summary of the Authority's net assets as of September 30, 2012, <br />and September 30, 2011: <br />Summ ofClanges in the Statement of Net Assets <br />Change <br />Positive <br />,2012 <br />2011 <br />(Negative} <br />Current and Other Assets <br />$ 1,178,981 <br />:. .r,:.. <br />$ 1,020944 <br />8 037 <br />Long -Tenn Liabilities <br />$ 1,335,599 <br />$ 652,000 <br />$ (673,599) <br />Due to Developer <br />8,880,774 <br />" ` <br />9,555,811 <br />785,037 <br />Accrued Interest <br />288,011 <br />194,228 <br />(93,783) <br />Total Liabilities _ <br />.;, <br />$ 10,504,384 <br />E}4,384 <br />$ 1Q,52 ,039 <br />2_ <br />17,655 <br />Net Assets: <br />Unrestricted <br />.. <br />9 3252 ,403) <br />$ (9,5Q1 09S) <br />_. 0 <br />175,692 <br />Total Net Assets <br />$ (9,325,403) <br />9 50109 <br />1 <br />$ 7..5. 62 <br />-5- <br />