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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 $320.6 million at the close
<br />of fiscal year 2013-14, a decrease of 1.5%.
<br />City of San Leandro
<br />Net Position at June 30, 2014
<br />(in thousands)
<br />Governmental Activities Business -Type Activities Total
<br />%
<br />2014 2013 change 2014 2013 change 2014 2013 change
<br />Current Assets
<br />$ 65,172
<br />$ 62,938
<br />3.5% $
<br />29,333 $
<br />24,384
<br />20.3%
<br />$ 94,505
<br />$ 87,322
<br />8.2%
<br />Non -Current Assets
<br />17,171
<br />16,786
<br />2.3%
<br />(1,965)
<br />(1,529)
<br />28.5%
<br />15,206
<br />15,257
<br />-0.3%
<br />Capital Assets
<br />255,631
<br />271,213
<br />-5.7%
<br />69,428
<br />56,406
<br />23.1%
<br />325,059
<br />327,619
<br />-0.8%
<br />Total assets
<br />337,974
<br />350,937
<br />-3.7%
<br />96,796
<br />79,261
<br />22.1%
<br />434,770
<br />430,198
<br />1.1%
<br />Current and other liabilities 15,906 16,120 -1.3% 6,044 7,533 -19.8% 21,950 23,653 -7.2%
<br />Long-term liabilities 54,012 57,430 -6.0% 38,208 23,746 60.9% 92,220 81,176 13.6%
<br />Total liabilities 69,918 73,550 -4.9% 44,252 31,279 41.5% 114,170 104,829 8.9%
<br />Net assets:
<br />Net investment in capital assets,
<br />net of related debt 225,402
<br />219,702
<br />2.6%
<br />31,513 32,979 -4.4% 256,915
<br />252,681
<br />1.7%
<br />Restricted 14,371
<br />24,162
<br />-40.5%
<br />- - 14,371
<br />24,162
<br />-40.5%
<br />Unrestricted 28,283
<br />33,524
<br />-15.6%
<br />21,031 15,003 40.2% 49,314
<br />48,527
<br />1.6%°
<br />Total net position 268,056
<br />277,388
<br />-3.4%
<br />52,544 47,982 9.5% $320,600
<br />$325,370
<br />-1.5%
<br />By far the largest portion of the City's net position (80%) 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, 4.5%, represents resources that are subject to external
<br />restriction on how they may be used. The remaining balance of $49.3 million or 15.4% 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 $9.3 million compared to the prior fiscal year 2012-13
<br />for a combination of reasons. The reduction of $15.6 million in net capital asset due to the annual
<br />depreciation of assets and an increase of $2.8 million in sales tax are the major contributors to the
<br />change in the 2013-14 net position.
<br />G9
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