10A Action 2009 0120 - Laserfiche WebLink

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ALAMEDA COUNTY REDEVELOPMENT AGENCY SAN LEANDRO JOINT PROJECT AREA MANAGEMENT'S DISCUSSION AND ANALYSIS JUNE 30, 2008 The government-wide financial statements reflect tax increments to principally support the Agency. During the current year, the operational grant of $224,000 was received from Congestion Management Association for Ashland Community Transit prof ect. Fund Financial Statements are designed to report information about groupings (funds) of related accounts that are used to maintain control over resources that have been segregated for specific activities or objective. The Agency, like other state and local governments, uses fund accounting to ensure and demonstrate compliance with finance-related legal requirements. All of the funds of the Agency are governmental funds. Governmental funds are used to account for essentially the same functions reported as governmental activities in the government-wide fmancial statements. However, unlike the government-wide financial statements, governmental fund fmancial statements focus on near-term inflows and outflows of spendable resources, as well as on balances of spendable resources available at the end of the fiscal year. Such information maybe useful in evaluating a government's near-term financing requirements. Because the focus of governmental funds is narrower than that of the government-wide fmancial statements, it is needful to compare the information presented for governmental funds with similar information presented for governmental activities in the government-wide financial statements. By doing so, readers may better understand the long-term impact of the government's near-term financing decisions. The governmental funds balance sheet and statement of revenues, expenditures and changes in fund balances do not differ from government activities in the statement of net assets and statement of activities. The Agency maintains two individual governmental funds. Information is presented separately in the governmental funds balance sheet and statement of revenues, expenditures and changes in fund balances for each fund. The Agency adopts an annual appropriated budget for all two funds. Budgetary comparison statements have been provided for all the funds to demonstrate compliance with the budget (Pages 18 to 19 of this report). Notes to the Basic Fina~:cial Statements provide additional information that is essential to a full understanding of the data provided in the government-wide and fund financial statements. The notes can be found on pages 20 through 26 of this report. 4