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LA PORTE REDEVELOPMENT AUTHORITY <br />MANAGEMENT'S DISCUSSION AND ANALYSIS <br />FOR THE YEAR ENDED SEPTEMBER 30, 2012 <br />NOTES TO THE BASIC FINANCIAL STATEMENTS <br />The accompanying notes to the basic financial statements provide information essential to a full <br />understanding of the government -wide and fund financial statements. The notes to the basic <br />financial statements can be found on pages 12 through 20 in this report. <br />GOVERNMENT -WIDE FINANCIAL ANALYSIS <br />Net assets may serve over time as useful indicator of the Authority's financial position. In the <br />case of the Authority, liabilities exceeded assets by $9,325,403 as of September 30, 2012. <br />The following table provides a summary of the Authority's net assets as of September 30, 2012, <br />and September 30, 2011: <br />Summary of Changes in the Statement of Net Assets <br />2012 2011 <br />Change <br />Positive <br />(Negative) <br />Current and Other Assets <br />$ 1,178,981 <br />$ 1,020,944 <br />$ 158,037 <br />Long -Term Liabilities <br />$ 1,335,599 <br />$ 662,000 <br />$ (673,599) <br />Due to Developer <br />8,880,774 <br />9,665,811 <br />785,037 <br />,Accrued Interest <br />288,011 <br />248,693 <br />39 318 <br />Total Liabilities <br />$ 10,504,384 <br />$ _ 10,576,504 <br />$ 72,120 <br />Net Assets: <br />Unrestricted $ (9,325,403$ _ (9,555,560i $ 230,157 <br />Total Net Assets $ (9,325,403} $ (9,555,5 230,157 <br />(1} <br />(1) As Adjusted, Note 10 <br />-5- <br />