Laserfiche WebLink
LA PORTE REDEVELOPMENT AUTHORITY <br />MANAGEMENT'S DISCUSSION AND ANALYSIS <br />FOR THE YEAR ENDED SEPTEMBER 30, 2012 <br />GOVERNMENT -WIDE FINANCIAL ANALYSIS (Continued) <br />The following table provides a summary of the Authority's operations for the fiscal years <br />ending September 30, 2012, and September 30, 2011: <br />Summary of Changes in the Statement of Activities <br />Change <br />Positive <br />2012 <br />2011 <br />(Negative) <br />Revenues <br />Tax Increment Revenue <br />$ 1,290,676 <br />$ 1,480,703 <br />$ (190,027) <br />Investment Revenue <br />635 <br />965 <br />(330) <br />Total Revenues <br />$ 1,291,311 <br />$ 1,481,668 <br />$ (190,357) <br />Expenses for Services <br />1,06„1,154 <br />473,713 <br />(587,440 <br />Change in Net Assets <br />$ 230,157 <br />$ 1,007,955 <br />$ (777,798) <br />Beginning Net Assets, As Adjusted <br />(9,555,560) <br />(10,563.515) <br />1007 955 <br />Ending Net Assets <br />$ (9,325.403) <br />9,555.5601 <br />$ 230,157 <br />(1) As Adjusted, Note 10 <br />FINANCIAL ANALYSIS OF THE AUTHORITY'S GOVERNMENTAL FUNDS <br />The Authority's combined fund balances as of September 30, 2012, were $1,178,981, an <br />increase of $159,037 from the prior year. <br />The General Fund fund balance increased by $158,037 due to tax increment revenue being more <br />than operating costs and certain costs to fund the Authority's debt obligations. <br />-6- <br />