Reso 2011-053 Attachment - Laserfiche WebLink

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Business -Type Activities. Business -Type activities net assets increased by $4.1 million from prior fiscal year. In spite of the decline in revenues, expenditures also were reduced by $3.4 million resulting in an increase of net assets. Revenues by Source — Business -Type Activities Expenses by Function - Business -Type Activities Environmental Services Shoreline Chargesfor 13% 20% Services , 94% i Water Storm Water Pollution Utility Control 8% Plant 59% FINANCIAL ANALYSIS OF INDIVIDUAL FUNDS Governmental Funds. The focus of the City's governmental funds is to provide information on near -term inflows, outflows, and balances of spendable resources. Such information is useful in assessing the City's financial requirements. In particular, unreserved fund balance may serve as a useful measure of a government's net resources available for spending at the end of the fiscal year. It should, however be noted that most of the unreserved amounts have been designated by City Council for specific uses. As of June 30, 2010, the City's governmental funds, including the general, special reserve, debt service, capital projects, and Redevelopment funds, reported combined ending fund balances of $59.7 million, a decrease of $13.6 million in comparison with the prior year. Approximately, $35.4 million is reserved to indicate that it is not available for new spending because it has already been committed 1) to pay for existing contracts and purchase order 2) to pay debt services, and 3) property held for resale. $12.7 million is not reserved (which is in the general fund), but is designated and is subject to restrictions relating to the various funding sources. The remaining $9.7 million is unreserved and undesignated to various funds. The General Fund is the chief operating fund of the City. At the end of the current fiscal year unreserved, designated fund balance of the General Fund was $12.7 million, while total fund balance was $26.4 million. As a measure of the general fund's liquidity, it may be useful to compare both unreserved fund balance and total fund balance to the total fund expenditures. Unreserved fund balance represents 17.1 % of that same amount. The General Fund balance decreased by $3.3 million during the fiscal year. Redevelopment Agency Capital Improvement Fund - The Redevelopment Agency is responsible for the planning and implementation of the City's Redevelopment Plan for the three Project Areas established under the Community Redevelopment Law. The Agency's operations are funded primarily by the issuance of debt, which is expected to be repaid out of property tax increment revenue generated by increases in property assessed values in the redevelopment project areas. The reserved fund balance at the end of fiscal year was $12.4 million, a decrease of $11.6 million from the prior fiscal year. The decrease is attributable to the completion of the 110