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GOVERNMENT -WIDE FINANCIAL ANALYSIS
<br />Net Position. As noted earlier, net position may serve over time as a useful indicator of the City's
<br />financial position. In the case of the City, total assets exceeded liabilities by $325.4 million at the close
<br />of fiscal year 2012-13, a decrease of $5.8 million.
<br />City of San Leandro
<br />Net Position at June 30, 2013
<br />(in thousands)
<br />By far the largest portion of the City's net position (78%) reflects its investment in capital assets (e.g.,
<br />infrastructure, land, buildings, machinery, and equipment), less any outstanding related debt used to
<br />acquire those assets. Because the City uses these capital assets to provide services to citizens, these
<br />assets are not available for future spending. Although the City investment in its capital assets is reported
<br />net of related debt, it should be noted that the resources needed to repay must be provided from other
<br />sources (future income), since the capital assets themselves cannot be used to liquidate these liabilities.
<br />An additional portion of the City's net position, 7%, represents resources that are subject to external
<br />restriction on how they may be used. The remaining balance of $48.5 million or 15% represents
<br />unrestricted net position which may be used to meet the City's ongoing obligations to citizens and
<br />creditors within the restrictions set forth by various funding sources.
<br />Total governmental activities assets decreased by $9.9 million compared to fiscal year 2011-12 for a
<br />combination of reasons. The reduction of $13.3 million in net capital asset due to the annual
<br />depreciation of assets and an increase of $2.2 million in sales tax are the major contributors to the
<br />change in the 2012-13 net position.
<br />Governmental Activities
<br />Business -Type Activities
<br />Total
<br />Amount
<br />Amount
<br />Amount
<br />2013
<br />2012
<br />change
<br />2013
<br />2012
<br />change
<br />2013
<br />2012
<br />change
<br />Current Assets $
<br />62,938
<br />$ 66,191
<br />$ (3.3)
<br />24,384 $
<br />19,486
<br />$ 4.9 $
<br />87,322
<br />$ 85,677
<br />$ 1.6
<br />Non -Current Assets
<br />16,787
<br />14,934
<br />1.9
<br />(1,529)
<br />(1,106)
<br />(0.4)
<br />15,258
<br />13,828
<br />1.4
<br />Capital Assets
<br />271,213
<br />283,137
<br />(11.9)
<br />56,406
<br />39,716
<br />16.7
<br />327,619
<br />322,853
<br />4.8
<br />Total assets
<br />350,938
<br />364,262
<br />(13.3)
<br />79,261
<br />58,096
<br />21.2
<br />430,199
<br />422,358
<br />7.8
<br />Current and other liabilities
<br />16,120
<br />17,868
<br />(1.7)
<br />7,533
<br />4,882
<br />2.7
<br />23,653
<br />22,750
<br />0.9
<br />Long-term liabilities
<br />57,430
<br />59,084
<br />(1.7)
<br />23,746
<br />9,379
<br />14.4
<br />81,176
<br />68,463
<br />12.7
<br />Total liabilities
<br />73,550
<br />76,952
<br />(3.4)
<br />31,279
<br />14,261
<br />17.0
<br />104,829
<br />91,213
<br />13.6
<br />Net position:
<br />Invested in capital assets,
<br />net of related debt
<br />219,702
<br />251,253
<br />(31.6)
<br />32,979
<br />30,737
<br />2.2
<br />252,681
<br />281,990
<br />(29.3)
<br />Restricted
<br />24,162
<br />29,895
<br />(5.7)
<br />-
<br />-
<br />-
<br />24,162
<br />29,895
<br />(5.7)
<br />Unrestricted
<br />33,524
<br />6,162
<br />27.4
<br />15,003
<br />13,097
<br />1.9
<br />48,527
<br />19,259
<br />29.3
<br />Total net position $
<br />277,388
<br />$ 287,310
<br />(9.9) $
<br />47,982 $
<br />43,834
<br />4.1 $
<br />325,370
<br />$ 331,144
<br />$ (5.8)
<br />By far the largest portion of the City's net position (78%) reflects its investment in capital assets (e.g.,
<br />infrastructure, land, buildings, machinery, and equipment), less any outstanding related debt used to
<br />acquire those assets. Because the City uses these capital assets to provide services to citizens, these
<br />assets are not available for future spending. Although the City investment in its capital assets is reported
<br />net of related debt, it should be noted that the resources needed to repay must be provided from other
<br />sources (future income), since the capital assets themselves cannot be used to liquidate these liabilities.
<br />An additional portion of the City's net position, 7%, represents resources that are subject to external
<br />restriction on how they may be used. The remaining balance of $48.5 million or 15% represents
<br />unrestricted net position which may be used to meet the City's ongoing obligations to citizens and
<br />creditors within the restrictions set forth by various funding sources.
<br />Total governmental activities assets decreased by $9.9 million compared to fiscal year 2011-12 for a
<br />combination of reasons. The reduction of $13.3 million in net capital asset due to the annual
<br />depreciation of assets and an increase of $2.2 million in sales tax are the major contributors to the
<br />change in the 2012-13 net position.
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