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LA PORTE REDEVELOPMENT AUTHORITY <br />MANAGEMENT'S DISCUSSION AND ANALYSIS <br />FOR THE YEAR ENDED SEPTEMBER 30, 2019 <br />GOVERNMENT -WIDE FINANCIAL STATEMENTS (Continued) <br />The Statement of Net Position includes all of the Authority's assets and liabilities, with the <br />difference reported as net position. Over time, increases or decreases in net position may serve <br />as a useful indicator of whether the financial position of the Authority as a whole is improving <br />or deteriorating. Evaluation of the overall financial health of the Authority would extend to <br />other non -financial factors. n �� <br />The Statement of Activities reports how the Authority's net position changed during�th&, uaent <br />fiscal year. All current year revenues and expenses are included regardless or wl eri Bash is <br />received or paid. <br />A <br />FUND FINANCIAL STATEMENTS d <br />The combined statements also include fund financial statements. A fund�is a grouping of related <br />accounts that is used to maintain control over resources that have begn segregated for specific <br />activities or objectives. The Authority has one governmental fund type. The General Fund <br />accounts for resources not accounted for in another fur�d,t.;taj'increment revenues, costs and <br />general expenditures. <br />Governmental funds are reported in each of th ==fi "cial statements. The focus in the fund <br />statements provides a distinctive view of the uty's governmental funds. These statements <br />report short-term fiscal accountability facusiw o1 the use of spendable resources and balances <br />of spendable resources available at the ei4 ,6f-the year. They are useful in evaluating annual <br />financing requirements of the Aut6 klty tithe commitment of spendable resources for the <br />near -term. e <br />*�a <br />Since the government-widAoc includes the long-term view, comparisons between these two <br />perspectives may provide insight into the long-term impact of short-term financing decisions. <br />The adjustments columnsthe Reconciliation of the Governmental Funds Balance Sheet to the <br />Statement of Net Positron and the Reconciliation of the Governmental Funds Statement of <br />Revenues, Exp4n itures and Changes in Fund Balances to the Statement of Activities explain <br />the differences between the two presentations and assist in understanding the differences <br />between these wp perspectives. <br />-4- <br />