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LA PORTE REDEVELOPMENT AUTHORITY <br />MANAGEMENT'S DISCUSSION AND ANALYSIS <br />FOR THE YEAR ENDED SEPTEMBER 30, 2012 <br />GOVERNMENT -WIDE FINANCIAL ANALYSIS (Continued) <br />The following table provides a summary of the Authority's operations for the fiscal years <br />ending September 30, 2012, and September 30, 2011: <br />Summary of Chan es in the Statement of Activities <br />Change <br />Positive <br />2012 <br />2011 <br />(Negative) <br />Revenues <br />Tax Increment Revenue <br />$ 1,290,676 <br />$ 1,480,703 <br />$ (190,027) <br />Investment Revenue <br />635 <br />965 <br />(330) <br />Total Revenues <br />$ 1,291,311 <br />$ 1,481,668 <br />$ (190,357) <br />Expenses for Services <br />385.203 <br />419,248 <br />34,045 <br />Change in Net Assets <br />$ 906,108 <br />$ 1,062,420 <br />$ (156,312) <br />Begim-dng Net Assets <br />(9,501,095) <br />(10,563,515) <br />1,062,420 <br />Ending Net Assets $ (&594,98j) _ (9.501 495) $ __906.1,0 <br />FINANCIAL ANALYSIS OF THE AUTHORITY'S GOVERNMENTAL FUNDS <br />The Authority's combined fund balances as of September 30, 2012, were $1,178,981, an <br />increase of $158,037 from the prior year. <br />The General Fund £and balance increased by $158,037 due to tax increment revenue being more <br />than operating costs and certain costs to fund the Authority's debt obligations. <br />-6- <br />