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CITY OF LA PORTE, TEXAS
<br />MANAGEMENT’S DISCUSSION AND ANALYSIS (continued)
<br />The combining statements referred to earlier in connection with nonmajor governmental funds and
<br />internal service funds are presented immediately following the required supplementary information on
<br />pensions. Combining and individual fund statements and supporting schedules can be found beginning on
<br />page 58 of the City's Comprehensive Annual Financial Report.
<br />Government-Wide Financial Analysis
<br />As noted earlier, net position may serve over time as a useful indicator of the City's financial position. For
<br />the City, assets and deferred outflows exceed liabilities and deferred inflows by $124.7 million as of
<br />September 30, 2014, in the primary government as follows:
<br />Condensed Schedule of Net Position
<br />September 30, 2014 and 2013
<br />Amounts in (000's)
<br />Governmental ActivitiesBusiness-type ActivitiesTotals
<br />201420132014201320142013
<br />Assets
<br />Current and other assets
<br />$ 59,22760,457$ 7,400$ 67,857$ 65,470
<br />$ $ 6,244
<br />Capital assets
<br /> 78,53676,43038,086 40,153116,622 116,582
<br />Total Assets
<br /> 138,994 45,485 46,396 184,479 182,053
<br /> 135,656
<br />Deferred Outflows of Resources
<br />Deferred charge on refunding 1,212791- - 1,212 791
<br />Total deferred outflows of resources
<br /> 1,212 791 - 1,212 791
<br /> -
<br />Liabilities
<br />Other liabilities
<br />6,3125,4391,1161,0537,428 6,492
<br />Long-term liabilities outstanding49,66550,2723,8914,59253,557 54,864
<br />Total Liabilities
<br /> 55,71155,977 5,007 5,645 60,984 61,356
<br />Deferred Inflows of Resources
<br />Deferred gain on refunding -57 7
<br /> - 5
<br />Total deferred inflows of resources
<br /> - 7
<br /> - 5 7 5
<br />Net Position:
<br /> Net investment in capital assets
<br /> 54,50649,30435,873 90,379 85,651
<br /> 36,347
<br />Restricted 11,0888,9021,413 2,096 12,500 10,998
<br />Unrestricted 18,635 22,530 3,187 2,301 21,822 24,831
<br />Total Net Position
<br />$ 84,229$ 80,736$ 40,744$124,701$ 121,480
<br />$ 40,473
<br />Net Investment in Capital Assets
<br />The largest portion of the City's net position (72%) reflects its investment in capital assets (e.g., land,
<br />buildings, machinery, equipment, improvements, construction in progress and infrastructure), less any
<br />debt used to acquire those assets that is still outstanding. The City uses these capital assets to provide
<br />services to citizens; consequently, these assets are not available for future spending. Although the City's
<br />Draft 3/5/2015
<br />these assets are not available for
<br />these assets are not available for
<br />services to citizens; consequently, future spending. Although the City's
<br />investment in its capital asse Draft ts is reported net of rela 3/5/2015 ted debt, it should be noted that the resources needed to
<br />investment in its capital assets is reported net of related debt, it should be noted that the resources needed to
<br />ts is reported net of rela
<br />repay this debt must be provided from other sour Draft 3/5/2015 ces, since the assets themselves cannot be used to
<br />repay this debt must be provided from other sourrepay this debt must be provided from other sources, since the assets themselves cannot be used to
<br />3/5/2015
<br />liquidate these liabilities. Draft
<br />liabilities.
<br />Restricted Net Position
<br />A portion of the City's net position, $12.5 million or 10% represents resources that are subject to external
<br />restriction on how they may be used.
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