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12-10-14 Meeting of the La Porte Redevelopment Authority minutes
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12-10-14 Meeting of the La Porte Redevelopment Authority minutes
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2/8/2022 2:48:02 PM
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3/21/2025 2:47:34 PM
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City Meetings
Meeting Body
La Porte Redevelopment Authority/TIRZ
Meeting Doc Type
Minutes
Date
12/10/2014
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LA PORTE REDEVELOPMENT AUTHORITY <br />NOTES TO THE FINANCIAL STATEMENTS <br />SEPTEMBER 30, 2014 <br />NOTE 2. SIGNIFICANT ACCOUNTING POLICIES (Continued) <br />Financial Statement Presentation (Continued) <br />Net Investment in Capital Assets — This component of net assets consists of capital <br />assets, including restricted capital assets, net of accumulated depreciation and reduced by <br />the outstanding balances of any bonds, mortgages, notes, or other borrowi g thatare <br />attributable to the acquisition, construction, or improvements of those assetsd' <br />• Restricted Net Position — This component of net position consists of eonstr&irits%aced on <br />the use of assets through external constraints imposed by creditors, (such,�a hrough debt <br />covenants), grantors, contributors, or laws or regulation of otter :governments or <br />t�h <br />constraints imposed by law through constitutional provisions,,or eabhng legislation. <br />• Unrestricted Net Position — This component of net position con s of assets that do not <br />meet the definition of Restricted or Net Investment in CatA&' 1,A�ssets. <br />When both restricted and unrestricted resources are av ilable for use, generally it is the <br />Authority's policy to use restricted resources first. <br />`Y <br />Government -Wide -Financial Statements <br />The Statement of Net Position and the�;Sta&nani of Activities display information about the <br />Authorityas a whole. The Authori " <br />ty'{Su;Stnt of Net Position and Statement of Activities are <br />combined with the governmental fund f in aI statements. The Authority is viewed as a special <br />purpose government and has the t on o£combinina these financial statements. <br />The Statement of Net Posi#ioiri is reported by adjusting the governmental fund types to report on <br />the full accrual basis, e�cortomc resource basis, which recognizes all long -terra assets and <br />receivables as well Is` long --term debt and obligations. Any amounts recorded due to and due <br />from other fundsgare eliminated in the Statement of Net Position. <br />!4•, ,V - - <br />The StatemehLof.-tivities is reported by adjusting the governmental fund types to report only <br />items related kto "-urrent year revenues and expenditures. Items such as capital outlay are <br />allocated, over ;their estimated useful lives as depreciation expense. Internal activities between <br />go :M{ 0n,tal funds, if any, are eliminated by adjustment to obtain net total revenue and expense <br />in i ig A emm.ent-wide Statement of Activities. <br />Fund Financial Statements <br />�E,discussed �Aove, the Authority's fund financial statements are combined with the <br />i $;narz3ment-wis'catements. The fund financial statements include a Balance Sheet alad <br />Statement of Retren�acs, Expenditures and Changes in Fund Balances. <br />-13- -'" <br />
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