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Management Discussion & Analysis
<br /> Notes to the financial statements
<br /> The notes to the financial statements provide additional information that is essential in order to
<br /> have a full understanding of the data provided in the government wide and fund financial
<br /> statements.
<br /> Other information
<br /> In addition to the basic financial statements and accompanying note & disclosures, this CAFR
<br /> report presents supplementary information. The combining statements referred to earlier in
<br /> connection with non-major governmental, enterprise, internal service and fiduciary funds are
<br /> presented immediately after the basic financial statements within the financial statement section
<br /> of the CAFR report.
<br /> Government wide financial statements
<br /> The following financial analysis will focus on the statement of net assets and statement of
<br /> changes in net assets of the City's governmental and business type activities.
<br /> Statement of Net Assets
<br /> Statement of Net Assets
<br /> Governmental Business type Government wide
<br /> Activities Activities Activities
<br /> $(whole) 2011 2010 2011 2010 2011 2010
<br /> Assets
<br /> Current&other 223,809,782 232,714,910 65,711,671 49,622,856 289,521,453 282,337,766
<br /> Capital assets(net) 293,841,463 288,193,363 210,128,990 200,960,281 503,970,453 489,153,644
<br /> Total Assets 517,651,245 520,908,273 275,840,661 250.583,137 793,491,906 771,491,410
<br /> Liabilities
<br /> Current 29,049,232 27,713,250 11,716,546 12,047,468 40,765,778 39,760,718
<br /> Long term 195,538,467 201,043,265 99,722,786 83,844,415 295,261,253 284,887,680
<br /> Total Liabilities 224,587,699 228,756,515 111,439,332 95,891,883 336,027,031 324,648,398
<br /> Net assets
<br /> Capital net of debt 195,361,678 186,771,216 103,923,028 122,108.095 299,284,706 308,879,311
<br /> Restricted 9,354,772 8,840,610 12,937,988 13,320,967 22,292,760 22,161,577
<br /> unrestricted 88,347,096 96,539,932 47,540,313 19,262,192 135,887,409 115,802,124
<br /> Total net assets 293,063,546 292,151,758 164,401,329 154,691,254 457,464,875 446,843,012
<br /> As of December 31, 2011, City assets exceeded liabilities by $457,464,875, an increase of
<br /> $10,621,863, or 2.4%, from the net asset level as of December 31, 2010.
<br /> Governmental net assets of $293,063,546 increased by $911,788 versus the level at December
<br /> 31, 2010, an increase of.3%. Business type net assets of$164,401,329 increased by $9,710,075
<br /> versus the level at December 31, 2010, an increase of 6.3%.
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