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LA PORTE AREA WATER AUTHORITY
<br />Management's Discussion and Analysis (continued)
<br />Notes to the Financial Statements -- The notes provide additional information that is essential to a full
<br />understanding of the data provided in the fund financial statements. The notes to the financial statements
<br />can be found on pages 13-19 of this report.
<br />Other Information -- In addition to the basic financial statements and accompanying notes, this report
<br />also presents certain supplementary information concerning the Water Authority's operations. Required
<br />supplementary information can be found on pages 23-36 of this report.
<br />Financial Analysis of the Government's Funds
<br />As noted earlier, net position may serve over time as a useful indicator of a government's financial
<br />position. In the case of the La Porte Area Water Authority, assets exceeded liabilities and deferred
<br />inflows of resources by $8,032,040 at the close of the fiscal year.
<br />The largest portion of the Water Authority's net position $4,657,245 reflects its investment in capital
<br />assets (e.g., water production and distribution system), less any related debt used to acquire those assets
<br />that are still outstanding. The City uses these capital assets to provide water services to the participants;
<br />consequently, these assets are not available for future spending. Although the Water Authority's
<br />investment in its capital assets is reported net of related debt, it should be noted that the resources needed
<br />to repay this debt must be provided from other sources, since the capital assets themselves cannot be used
<br />to liquidate these liabilities.
<br />La Porte Area Water Authority's Net position
<br />Current and other assets
<br />Capital assets
<br />Total Assets
<br />Current liabilities
<br />Noncurrent liabilities
<br />Total Liabilities
<br />Total Deferred inflows of resources
<br />Net Position:
<br />Business -Type Activities
<br />2014 2013
<br />$ 3,423,506
<br />6,344,826
<br />9,768,332
<br />698,711
<br />1,032,550
<br />1,731,261
<br />3,105, 935
<br />6,809,826
<br />9,915,661
<br />711,390
<br />1,699,862
<br />2,411,252
<br />5,031 7,075
<br />Net Investment in capital assets
<br />4,657,245
<br />4,479,964
<br />Restricted
<br />1,147,160
<br />1,147,160
<br />Unrestricte
<br />19,ma
<br />°, 3
<br />1,870,210
<br />TotaNitio
<br />F ft
<br />2
<br />28,2,40
<br />7,497,334
<br />S,.w
<br />An additional portion of the Authority's net position (14%) represents resources that are subject to
<br />external restrictions for debt service. The remaining balance of unrestricted net position of $2,227,635
<br />represents funds available to meet other ongoing obligations to participants and/or creditors.
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