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Other information In addition to the basic financial statements and accompanying notes, this
<br />report also presents certain other supplementary information. The combining statements referred
<br />to earlier m connection with non-mayor funds, internal service funds and fiduciary funds are
<br />presented immediately after the basic financial statements. Also included are budget
<br />comparisons for governmental funds other than the General Fund and the Park and Recreation
<br />Fund, a major special revenue fund.
<br />Government-wide Financial Analysis
<br />As noted earlier, net assets may serve over time as a useful indicator of a overnment's financial
<br />position. At December 31, 2002, the City's assets exceeded liabilities by 186,911,387. By far
<br />the largest portion of the City's net assets reflects rts investment in capital assets, less any related
<br />debt used to acquire those assets that is still outstanding. Capital assets are used to provide
<br />services to citizens and they are not available for future spending. Although the investment in
<br />capital assets are reported net of related debt, it should be noted that the resources needed to
<br />repay this debt must be provided from other sources, since the capital assets themselves cannot
<br />be used to liquidate these habilrties.
<br />This is the first year the City has produced government-wide financial statements using full
<br />accrual basis of accounting. and economic resources measurement focus. The following tables
<br />present condensed information on net assets and changes in net assets for the year.
<br />City of South Bend's Net Assets
<br />Governmental Business-Type
<br />Activities Activities Total
<br />Current and other assets $ 99,054,433 $ 37,313,622 $ 136,368,055
<br />Capital assets 97,190,843 157,183,668 254,374,511
<br />Total assets 196,245,276 194,497,290 390,742,566
<br />Long-term liabilities 120,766,624 .55,554,721 176,321,345
<br />outstanding
<br />Other liabilities 20,192,250 7,317,584 27,509,834
<br />Total liabilities 140,958,874 62,872,305 203,831,179
<br />Net assets:
<br />Invested in capital assets, net 31,654,852 49,514,614 81,169,466
<br />of related debt
<br />Restricted 7,167,628 44,235,716 51,403,344
<br />Unrestricted 16,463,922 38,062,786 65,192,896
<br />
<br />Total net assets $ 55,286,402 $ 131,624,985 $ 186,911,387
<br />At the end of the current fiscal year the City is able to report positive balances in all three
<br />categories of net assets, both for the government as a whole, as well as for its separate
<br />governmental and business-type activities.
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