|
GOVERNMENT-WIDE FINANCIAL ANALYSIS
<br />
<br />Net Position – As noted, net position may serve over time as a useful indicator of the City’s financial
<br />position. In this fiscal year, total assets and deferred outflow exceeded liabilities and deferred inflows by
<br />$290.3 million at the close of fiscal year 2023-24, an increase of 12.7%.
<br />
<br />
<br />City of San Leandro
<br /> Net Position at June 30, 2024
<br /> (in thousands)
<br />
<br /> Governmental Activities Business-Type Activities Total
<br /> 2024 2023
<br />%
<br />change 2024 2023
<br />%
<br />change 2024 2023
<br />%
<br />change
<br />
<br />Current Assets $ 233,597 $ 229,726 1.7% $ 51,940 $ 50,357 3.1% $ 285,537 $ 280,083 1.9%
<br />Non-Current Assets 13,715 12,357 11.0% 18,410 (7,153)
<br />-
<br />357.4% 32,125 5,204 517.3%
<br />Capital Assets 177,784 170,401 4.3% 85,817 86,393 -0.7% 263,601 256,794 2.7%
<br />Total assets 425,096 412,484 3.1% 156,167 129,597 20.5% 581,263 542,081 7.2%
<br /> Deferred Outflows of
<br />Resources 67,485 71,253 -5.3% 3,504 5,928 -40.9% 70,989 77,181 -8.0%
<br />
<br />Current and other liabilities 28,075 29,133 -3.6% 3,952 5,281 -25.2% 32,027 34,414 -6.9%
<br />Long-term liabilities 267,844 257,683 3.9% 48,421 53,024 -8.7% 316,265 310,707 1.8%
<br />Total liabilities 295,919 286,816 3.2% 52,373 58,305 -10.2% 348,292 345,121 0.9%
<br />
<br />Deferred Inflows of Resources 13,160 15,210 -13.5% 526 1,400 0.0% 13,686 16,610 -17.6%
<br />Net assets: Net investment in capital
<br />assets 142,067 133,212 6.6% 50,974 49,389 3.2% 193,041 182,601 5.7%
<br /> Restricted 114,990 78,669 46.2% - - N/A 114,990 78,669 46.2%
<br /> Unrestricted (73,556) (30,172) 143.8% 55,798 26,432 111.1% (17,758) (3,740)374.8%
<br />Total net position $ 183,502 $ 181,709 1.0% 106,772 75,821 40.8% $ 290,273 $ 257,530 12.7%
<br />
<br />
<br />The City’s $193 million net investment in capital assets such as infrastructure, land, buildings, machinery,
<br />and equipment are the largest portion of the City’s net position. These assets are not available for future
<br />spending because the City currently uses these capital assets to provide services to residents. Although
<br />investment in capital assets is reported net of related debt, it should be noted that the resources needed to
<br />repay these investments must be provided from other sources (future income) since the capital assets
<br />themselves cannot be used to liquidate these liabilities.
<br />
<br />Of the City’s total net position, $114.9 million represents resources that are subject to external restrictions.
<br />The remaining balance of ($17.8) million represents an unrestricted net position, which may be used to
<br />meet the City’s ongoing obligations to citizens and creditors within the restrictions set forth by various
<br />funding sources.
<br />
<br />9
|