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LA PORTE REDEVELOPMENT AUTHORITY <br />MANAGEMENT'S DISCUSSION AND ANALYSIS <br />FOR THE YEAR ENDED SEPTEMBER 30, 20I6 <br />GENERAL FUND BUDGETARY HIGHLIGHTS <br />The Board of Directors did not amend the budget for the fiscal year ending September 30, 2016. <br />Actual revenues were $28I,919 less than budgeted and actual expenditures were $297,490 less <br />than budgeted. See the budget to actual comparison. <br />CAPITAL ASSETS <br />When capital projects are completed, the costs of the projects are recorded as a transfer to the <br />City since the maintenance and operations of the facilities will not be the responsibility of the <br />Authority. During the current fiscal year, $1,524,972 was paid to the Developers for projects, <br />including interest. See Note 4 for additional information. <br />LONG-TERM DEBT ACTIVITY <br />As of September 30, 2016, the Authority had no bond debt payable. <br />The Authority has recorded a long-term payable to Developers in the amount of $7,410,577, see <br />Note 4. <br />CONTACTING THE AUTHORITY'S MANAGEMENT <br />This financial report is designed to provide a .general overview of the Authority's finances. <br />Questions concerning any of the information provided in this report or requests for additional <br />information should be addressed to La Porte Redevelopment Authority, c/o David Hawes, P. O. <br />Box 22167, Houston, TX 77227. <br />-7- <br />