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CITY OF SOUTH BEND <br />NOTES TO FINANCIAL STATEMENTS <br />(Continued) <br />Total assets $ 4,572,278 <br />Liabilities: <br />Current liabilities $ 1,449,478 <br />Current liabilities payable from restricted assets 510,287 <br />Noncurrent liabilities 3,601,179 <br />Total liabilities $ 5,560,944 <br />Net assets: <br />Invested in capital assets, net of related debt <br />$ (970,449) <br />Restricted <br />1,207, 362 <br />Unrestricted <br />(1,225, 579) <br />Total net assets <br />$ (988,666) <br />Condensed Statement of Revenues, Expenses and Changes in Net Assets <br />Operating revenues $ 1,546,515 <br />Depreciation expense 151,167 <br />Other operating expenses 1,357,045 <br />Operating income 38,303 <br />Nonoperating revenues (expenses) <br />Investment earnings 34,578 <br />Interest expense (224,392) <br />Amortization (4,335) <br />Transfers (33,589) <br />Change in net assets (189,435) <br />Beginning net assets (799,231) <br />Ending net assets $ 988,666) <br />,. <br />