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<br />2009 <br /> <br />La Porte Redevelopment Authority's Change in Net Assets <br /> <br />2008 <br /> <br />Revenues: <br />Program revenues: <br />Charges for services - developers <br /> <br />Total program revenues <br /> <br />$ 312,437 <br /> 312,437 <br /> 946,025 <br /> 5,212 <br /> 951,237 <br /> 1,319,499 <br /> 167,054 <br /> 1,486,553 <br />( 222,879) <br />( 293,847) <br />$( 516,726) <br /> <br />General revenues: <br />Property taxes <br />Intergovernmental <br />Interest <br />Total general revenues <br /> <br />Expenses: <br />General government <br />Interest and fiscal charges <br />Total expenses <br /> <br />CHANGE IN NET ASSETS <br />NET ASSETS, BEGINNING <br /> <br />NET ASSETS, ENDING <br /> <br />$ <br /> <br /> 260,201 <br /> 100,000 <br /> 14,632 <br /> 374,833 <br /> 668,680 <br /> 668,680 <br />( 293,847) <br /> <br />- <br /> <br />_. <br /> <br />1 <br /> <br />$( 293,847) <br /> <br />Annual expenses consist of constructing capital assets on behalf of the City and administrative cost. <br /> <br />1 <br /> <br />Budgetary Highlights <br /> <br />1 <br /> <br />During the year, the Authority did not amend its budget. Expenditures were greater than appropriations <br />primarily due to construction expenditures on behalf of the City being greater than anticipated in the <br />current year. <br /> <br />Long-term Debt <br /> <br />1 <br /> <br />1 <br /> <br />The Authority owes $615,026 to the City of La Porte. More detailed information about the Authority's <br />long-term debt is presented in the notes to the financial statements. <br /> <br />1 <br /> <br />Discussion of Currently Known Facts, Decision or Condition in Fiscal Year 2009: <br /> <br />1 <br /> <br />As of January 1, 1999, the property tax base was $7,385,080. As of January 1,2009, the property tax <br />value is $2,137,427,887. The tax rate is $.71 on each $100 of taxable value. <br /> <br />Requests for Information: <br /> <br />1 <br /> <br />I <br />1 <br /> <br />This financial report is designed to provide our citizens with a general overview of the Authority's <br />finances. If you have any questions about this report or need any additional information, please contact <br />David Hawes, P. O. Box 22167, Houston, Texas 77227. <br /> <br />4 <br /> <br />I <br /> <br />... <br /> <br />1 <br />