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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 financial
<br />position. In the case of the City, total assets exceeded liabilities by $194.9 million at the close of fiscal year 2015-16, an increase of 8.1% due to reasons noted earlier.
<br />
<br /> By far the largest portion of the City’s net position ($230.9 million) reflects its investment in capital assets (e.g., 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 assets
<br />are not available for future spending. Although the City’s investment in its capital assets is reported net
<br />of related debt, it should be noted that the resources needed to repay must be provided from other sources (future income), since the capital assets themselves cannot be used to liquidate these liabilities.
<br />$23.7 million of the City’s net position represents resources that are subject to external restriction on how
<br />they may be used. The remaining balance of ($59.7) million represents unrestricted net position which
<br />may be used to meet the City’s ongoing obligations to citizens and creditors within the restrictions set forth by various funding sources.
<br />Total governmental activities assets increased by $3.5 million compared to the prior fiscal year 2014-15
<br />for a combination of reasons. The reduction of $11.5 million in governmental activities capital assets is
<br />mainly due to the annual depreciation of assets; offset by a $7.9 million increase in cash and investments, a $5.1 million increase in accounts receivable, a $462,000 increase in internal balances, a $691,000
<br />increase in advances to Successor Agency, and a $1.2 million increase in net OPEB asset.
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<br />Total
<br />2016 2015
<br />%
<br />change 2016 2015
<br />%
<br />change 2016 2015
<br />%
<br />change
<br />Current Assets 87,614$ 74,606$ 17.4% 36,823 33,534 9.8% 124,437$ 108,140$ 15.1%
<br />Non-Current Assets 10,999 8,908 23.5% (2,875) (2,413) 19.1% 8,124 6,495 25.1%
<br />Capital Assets 228,486 240,039 -4.8% 74,614 74,598 0.0% 303,100 314,637 -3.7%
<br />Total assets 327,099 323,553 1.1% 108,562 105,718 2.7% 435,661 429,271 1.5%
<br />Deferred Outflows of Resources 9,504 9,167 3.7% 839 757 10.8% 10,343 9,924 4.2%
<br />Current and other liabilities 16,448 16,805 -2.1% 4,913 5,417 -9.3% 21,361 22,222 -3.9%
<br />Long-term liabilities 159,790 154,707 3.3% 54,499 53,685 1.5% 214,289 208,392 2.8%
<br />Total liabilities 185,742 180,679 2.8% 60,251 59,859 0.7% 235,650 230,614 2.2%
<br />Deferred Inflows of Resources 13,901 25,989 -46.5% 1,504 2,259 -33.4% 15,406 28,248 -45.5%
<br />Net assets:
<br />Invested in capital assets,
<br /> net of related debt 200,560 212,968 -5.8% 30,434 32,506 -6.4% 230,994 245,473 -5.9%
<br /> Restricted 23,680 21,207 11.7%- - N/A 23,680 21,207 11.7%
<br /> Unrestricted (77,776) (98,956) -21.4% 18,050 12,609 43.2% (59,726) (86,347) -30.8%
<br />Total net assets 146,464$ 135,219$ 8.3% 48,485 45,115 7.5% 194,949$ 180,333$ 8.1%
<br />City of San Leandro
<br />Net Assets at June 30, 2016
<br />(in thousands)
<br />Governmental Activities Business-Type Activities
<br />9
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