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CITY OF LA PORTE
<br />MANAGEMENT’S DISCUSSION AND ANALYSIS (continued)
<br />General Fund Budgetary Highlights
<br />Actual revenues exceeded the final General Fund budgeted revenues by $7.5 million. The major drivers
<br />were sales and use taxes exceeded budget by $1.5 million, property taxes by$1.3 million and industrial
<br />payments and investment earnings exceeded budget by $1.2 million and $1.0 million respectively.
<br />The total appropriations exceeded expenditures by $2.3 million, the majority of which can be attributed to
<br />three departments. General government had a positive variance of $1.5 million, public safety had a positive
<br />variance of $426 thousand and culture and recreation had a positive variance of $235 thousand.
<br />Capital Asset and Debt Administration
<br />Capital Assets.The City’s investment in capital assets for its governmental and business-type activities
<br />as of September 30, 2019, amounts to $109.5 million (net of accumulated depreciation). This investment
<br />in capital assets includes land, buildings, roads, park facilities, water and wastewater plants and service
<br />lines, machinery and equipment, and construction in progress. The total decrease in the City’s investment
<br />in capital assets for the current fiscal year was approximately $1.6 million. The following table shows
<br />capital assets activity for the 2019 and 2018 fiscal years:
<br />SCHEDULE OF CAPITAL ASSETS
<br />(net of depreciation)
<br />Governmental ActivitiesBusiness-type ActivitiesTotal
<br />201920182019201820192018
<br />Land10,326,295$ 10,326,295$ 447,791$ 447,791$ 10,774,086$ 10,774,086$
<br />Construction in progress2,473,6252,506,5273,081,3122,035,2885,554,937 4,541,815
<br />Infrastructure24,336,899 22,014,466 - - 24,336,899 22,014,466
<br />Buildings and improvements31,591,06833,792,54425,879,49727,449,86357,470,565 61,242,407
<br />Machinery and equipment9,078,95710,352,4462,326,8932,267,02611,405,850 12,619,472
<br />Totals77,806,844$ 78,992,278$ 31,735,493$ 32,199,968$ 109,542,337$ 111,192,246$
<br />Major capital asset events during the current year include the reporting of a drainage master plan study.
<br />Construction in progress at year-end represents ongoing projects; to include various water and sewer
<br />projects. Additional information on capital assets activity can be found on pages 52 – 53 in the notes to the
<br />financial statements.
<br />DRAFT 02.25.2020
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