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City of La Porte, Texas
<br /> Changes in Net Assets
<br /> Last Eight Fiscal Years
<br /> (accrual basis of accounting)
<br /> (unaudited)
<br /> Fiscal Year
<br /> 2003 2004 2005 2006
<br /> Net (expense) /revenue
<br /> Governmental activities: $ (23,854,219) $ (26,132,334) $ (22,689,318) $ (25,262,703)
<br /> Business -type activities: (2,113,981) (1,827,835) (1,655,083) (925,845)
<br /> Total primary government net expense $ (25,968,200) $ (27,960,169) $ (24,344,401) $ (26,188,548)
<br /> General Revenues and Other Changes in
<br /> Net Assets
<br /> Governmental activities:
<br /> Taxes
<br /> Property taxes, levied for general purposes $ 8,797,886 $ 9,139,422 $ 10,192,599 $ 10,535,316
<br /> Property taxes, levied for debt service 2,070,120 1,922,117 1,623,095 1,661,801
<br /> Industrial payments 7,276,821 6,896,112 6,991,926 7,659,591
<br /> Franchise taxes 1,682,849 1,718,875 1,885,801 1,986,698
<br /> Sales tax 3,037,574 3,263,459 3,459,979 4,067,767
<br /> Unrestricted investment earnings 542,254 376,359 720,137 1,874,828
<br /> Grants not specified for specific program - - - 75,189
<br /> Miscellaneous 704,886 495,102 753,595 1,137,928
<br /> Gain /(loss) on sale /retirement of capital assets (260,545) - 103,594 -
<br /> Transfers (253,629) 684,697 381,625 (3,910,056)
<br /> Total governmental activities 23,598,216 24,496,143 26,112,351 25,089,062
<br /> Business -type activities
<br /> Unrestricted investment earnings 121,174 88,602 165,162 300,099
<br /> Miscellaneous 889,298 874,146 827,183 694,507
<br /> Gain /(loss) on sale /retirement of capital assets - (5,784) - (16,083)
<br /> Transfers 253,629 (684,697) (381,625) 3,910,056
<br /> Total business -type activities 1,264,101 272,267 610,720 4,888,579
<br /> Total primary government $ 24,862,317 $ 24,768,410 $ 26,723,071 $ 29,977,640
<br /> Change in Net Assets
<br /> Governmental activities $ (256,003) $ (1,636,191) $ 3,423,033 $ (173,642)
<br /> Business -type activities (849,880) (1,555,568) (1,044,363) 3,962,734
<br /> Total primary government $ (1,105,883) $ (3,191,759) $ 2,378,670 $ 3,789,091
<br /> Note: The City of La Porte first applied GASB Statement 34 in fiscal year 2003; therefore, government -wide
<br /> financial information for years prior to fiscal year 2003 is not available.
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