03-26-12 Fiscal Affairs Committee

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CITY OF LA PORTE, TEXAS MANAGEMENT’S DISCUSSION AND ANALYSIS (continued) 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 - $1,375 thousand, La Porte Area Water Authority - $2,480 thousand and Airport - $344 thousand. The changes in net assets of the proprietary funds for 2011 was as follows: Utility - increase of $258 thousand, La Porte Area Water Authority - increase of $396 thousand and Airport - decrease of $108 thousand. General Fund Budgetary Highlights Actual revenues exceeded original and amended General Fund budgeted revenues by $186,449. Property taxes were below budgeted by $73,640, but sales taxes, franchise fees and industrial payments exceeded the projected budget by $139,687. Licenses and permits also exceeded budgeted amounts by $58,706 and charges for services exceeded the budget by $107,479. Total appropriations exceeded expenditures by $1,131,270, the majority of which can be attributed to four departments. Administration had a positive variance in the amount of $200,542 due to open positions and reduction in special programs. Planning and engineering had a positive variance in the amount of $193,002 due to open positions. The variance in Public Works – Streets for $186,093 was due to open positions in the department and a reduction in the paving program. Culture and recreation had a positive variance of $184,398 due to open positions. The city made budget adjustments of approximately $5.9 million for 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 September 30, 2011 as of amounted to $114.2 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 million. The following table 2011 shows capital asset activity for the fiscal year (in 000’s): Major capital asset events during the current year include the reporting of a drainage master plan study Construction in progress at year-end represents ongoing projects; to include various water and sewer projects. Additional information on capital asset activity can be found in note 5 to the financial statements. 9