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CITY OF LA PORTE, TEXAS, TEXAS
<br />MANAGEMENTÓS DISCUSSION AND ANALYSIS (continued)
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<br />The Debt Service fund has a total fund balance of approximately $5.0 million, all of which is restricted for the
<br />payment of debt service. The net increase in fund balance from the prior year of $521 thousand was due to an
<br />increase in property tax revenue and debt refunding.
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<br />The La Porte Redevelopment Authority had a total fund balance of approximately $4.3 million, all of which is
<br />restricted for capital projects. The net increase in fund balance from the prior year of $2.4 million was due an
<br />increase in property taxes.
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<br />The Capital Improvements Fund had a total fund balance of approximately $13.5 million, all of which is restricted
<br />for capital projects. The net increase in fund balance from the prior year of $4.7 million was due to transfers from
<br />other funds.
<br />Proprietary Funds. The CityÓs proprietary funds provide the same type of information found in the government-
<br />wide financial statements.
<br />Unrestricted net position of the respective proprietary funds are Utility - $4.9 million, La Porte Area Water
<br />Authority - $1.7 million and Airport - $115 thousand. The changes in net position of the proprietary funds for 2020
<br />were as follows: Utility Î $653 thousand, La Porte Area Water Authority Î $1.4 million and Airport Î $29 thousand.
<br />Increase in the Utility Fund is due to capital contributions. The decrease in the La Porte Area Water Authority is
<br />due to an increase in operating expenses, specifically water purchases and a true-up of water purchase cost.
<br />General Fund Budgetary Highlights
<br />Actual revenues exceeded the final General Fund budgeted revenues by $5.4 million. The major drivers were
<br />industrial payments exceeded budget by $2.4 million, sales and use taxes by $1.1 million and property taxes by
<br />$1.4 million.
<br />The total appropriations exceeded expenditures by $5.3 million, the majority of which can be attributed to three
<br />departments. General government had a positive variance of $1.7 million, public safety had a positive variance of
<br />$2.7 million and public works had a positive variance of $432 thousand.
<br />Capital Asset and Debt Administration
<br />Capital Assets. The CityÓs investment in capital assets for its governmental and business-type activities as of
<br />September 30, 2020, amounts to $108.7 million (net of accumulated depreciation). This investment in capital assets
<br />includes land, buildings, roads, park facilities, water and wastewater plants and service lines, machinery and
<br />equipment, and construction in progress. The total decrease in the CityÓs investment in capital assets for the current
<br />fiscal year was approximately $0.9 million. The following table shows capital assets activity for the 2020 and 2019
<br />fiscal years:
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<br />SCHEDULE OF CAPITAL ASSETS
<br />(net of depreciation)
<br />Governmental ActivitiesBusiness-type ActivitiesTotal
<br />202020192020201920202019
<br />Land10,326,295$ 10,326,295$ 447,791$ 447,791$ 10,774,086$ 10,774,086$
<br />Construction in progress3,934,9892,473,6254,969,8363,081,3128,904,825 5,554,937
<br />Infrastructure24,501,17324,336,899- - 24,501,173 24,336,899
<br />Buildings and improvements28,913,08031,591,06823,017,00125,879,49751,930,081 57,470,565
<br />Machinery and equipment8,410,0579,078,9574,147,7072,326,89312,557,764 11,405,850
<br />Totals76,085,594$ 77,806,844$ 32,582,335$ 31,735,493$ 108,667,929$ 109,542,337$
<br />Major capital asset events during the current year include the reporting of a drainage master plan study.
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<br />Draft 3-12-21
<br /> 14 Fiscal Year 2020 Annual Report
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