Laserfiche WebLink
LA PORTE REDEVELOPMENT AUTHORITY <br />MANAGEMENT'S DISCUSSION AND ANALYSIS <br />FOR THE YEAR ENDED SEPTEMBER 30, 2015 <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, 2015, and September 30, 2014: <br />Revenues: <br />Tax Increment Revenues <br />Interest Revenues <br />Total Revenues <br />Summary of Chanaes in the Statement of ActivitiesR <br />Change 4 z`� <br />Posiiiv } <br />2015 2014 6 (�legativ'e); ' <br />$ 1,848,694 <br />351 <br />$ 1,949,045 <br />$ 1,698,270 <br />5d 1 <br />$ 1 <br />$ `�,, 150,424 <br />150,264 <br />Expenses for Services $ 399,959 $ 1,,235,6174: $ 835,715 <br />Change in Net Position $ 1,449,086 %$ k 463,107 $ 985,979 <br />Net Position, Beginning of Year (8,238,406) `��, (8,701,513) 463,107 <br />Net Position, End of Year $ (0,389 320) $ (8,238,406) $ 1,449,086 <br />FINANCIAL ANALYSIS OF THE AUTHORITY'S GOVERNMENTAL FUNDS <br />The Authority's fund balance as>.of September 30, 2015, was $540,282, a decrease of $120,928 <br />from the prior year. <br />r <br />The General Fund fund balance decreased by $120,928 due to tax increment revenue being less <br />than operating costs; capital outlay and certain costs to fund the Authority's debt obligations. <br />-6- <br />