03-11-13 Fiscal Affairs Committee

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CITY OF LA PORTE, TEXAS MANAGEMENT’S DISCUSSION AND ANALYSIS (continued) The Capital Projects Fund experienced a decrease in fund balance in the amount of$2,525,307. This was a planned decrease as the City utilized bond funds to construct and acquire various capital assets. Proprietary Funds. The City’s proprietary funds provide the same type of information found in the government-wide financial statements. Unrestricted net assets of the respective proprietary funds are Utility - $909 thousand, La Porte Area Water Authority - $2.6 million and Airport - $358 thousand. The changes in net assets of the proprietary funds for 2012 was as follows: Utility - decrease of $550 thousand, La Porte Area Water Authority - increase of $135 thousand and Airport - decrease of $154 thousand. General Fund Budgetary Highlights Actual revenues exceeded original and amended General Fund budgeted revenues by $2,232,055. Property taxes and industrial payments exceeded the projected budget by $755,516 and $571,444 respectively. Sales and use taxes, franchise fees and licenses and permits also exceeded budget by $640,216, $166,944 and $128,121 respectively. Total appropriations exceeded expenditures by $1,383,726, the majority of which can be attributed to five departments. Administration had a positive variance in the amount of $324,145 due to a reduction in special programs. Planning and Engineering had a positive variance of $176,104 due to open positions. The variance in Fire and Police for $209,840 and $216,815 was due to open positions in the department. Culture and recreation had a positive variance of $175,742 due to open positions. The city made budget adjustments of approximately $400 thousand because of additional proceeds from the sale of land. Capital Asset and Debt Administration Capital Assets. The City’s investment in capital assets for its governmental and business type activities Error! Not a valid link. as of September 30, 2012 amounted to $117.4 million (net of accumulated depreciation). This investment in capital assets includes land, buildings, roads, park facilities, water and wastewater plants and service lines, machinery and equipment, and construction in progress. The total increase in the City’s investment in capital assets for the current fiscal year was approximately $3.2 Error! Not a valid link. million. The following table shows capital asset activity for the 2012 fiscal year (in 000’s): Major capital asset events during the current year include the reporting of a drainage master plan study. 9