Laserfiche WebLink
LA PORTE REDEVELOPMENT AUTHORITY <br />MANAGEMENT'S DISCUSSION AND ANALYSIS <br />FOR THE YEAR ENDED SEPTEMBER 30, 2016 <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, 2016, and September 30, 2015: <br />Summary of Changes in the Statement of Activities <br />Change <br />Positive <br />2016 2015 (Negative) <br />Revenues: <br />Tax Increment Revenues $ 2,216,993 $ 1,848,694 $ 368,299 <br />Interest Revenues 419 351 68 <br />Total Revenues $ 2,217,412 $ 1,849,045 $ 368,367 <br />Expenses for Services <br />2,298,441 <br />399,959 <br />(1,898,482) <br />Change in Net Position <br />$ (81,029) <br />$ 1,449,086 <br />$ (1,530,115) <br />Net Position, Beginning of Year <br />(6,789,320) <br />(8,238,406) <br />1,449,086 <br />Net Position, End of Year <br />$ (6,870,349) <br />$ 6,789,320) <br />$ (81,029) <br />FINANCIAL ANALYSIS OF THE AUTHORITY'S GOVERNMENTAL FUNDS <br />The Authority's fund balance as of September 30, 2016, was $540,228, a decrease of $54 from <br />the prior year. <br />The General Fund fund balance decreased by $54 due to tax increment revenue being less than <br />operating costs, capital outlay and certain costs to fund the Authority's debt obligations. <br />-6- <br />