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MANAGEMENT'S DISCUSSION AND ANALYSIS
<br />SUMMARIZED FINANCIAL INFORMATION
<br />Current and other assets
<br />Capital assets
<br />Total assets
<br />TABLE I
<br />Governmental Activities
<br />2010
<br />2009
<br />Current Liabilities
<br />Long -term liabilities
<br />Total liabilities
<br />Net Assets:
<br />Invested in capital assets, net of related debt
<br />Restricted
<br />Unrestricted
<br />Total net assets (deficit)
<br />Revenues:
<br />General Revenues:
<br />Incremental property taxes
<br />Other
<br />Investment earnings
<br />Total general revenues
<br />Expenses:
<br />Community Development
<br />Interest on long -term debt
<br />Total expenses
<br />Increase in net assets before transfers
<br />Transfers (net)
<br />Increase in net assets
<br />Net assets (deficit) beginning
<br />Net assets (deficit) ending
<br />$ 37,263,217 $ 49,740,240
<br />8,596,138 8,028,447
<br />45,859,355 57,768,687
<br />7,892,222 9,494,602
<br />57,984,420 60,428,142
<br />65,876,642 69,922,744
<br />8,596,138 8,028,447
<br />18,550,418 28,879,558
<br />(47,163,843) (49,062,062)
<br />$ (20,017,287) $ (12,154,057)
<br />TABLE 2
<br />Governmental Activities
<br />2010 2009
<br />$ 10,969,052 $ 10,957,140
<br />698,220 1,624,106
<br />191,276 696,735
<br />11,858,548 13,277,981
<br />16,630,638
<br />22,612,740
<br />3,091,140
<br />3,826,593
<br />19,721,778
<br />26,439,333
<br />(7,863,230)
<br />(13,161,352)
<br />-
<br />(140,500)
<br />(7,863,230)
<br />(13,301,852)
<br />(12,154,057)
<br />1,147,795
<br />$ (20,017,287) $
<br />(12,154,057)
<br />4
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