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Urban Renewal Agency's Net Assets
<br />20072006
<br />Current and other assets$13,085,80011,670,939
<br />Capital assets5,561,5955,511,231
<br /> Total assets 18,647,39517,182,170
<br />Other liabilities41,06629,717
<br /> Total liabilities41,06629,717
<br />Net assets:
<br /> Invested in capital assets,
<br /> net of related debt5,561,5955,511,231
<br /> Unrestricted13,044,73411,641,222
<br /> Total net assets$18,606,32917,152,453
<br />Urban Renewal Agency's Change in Net Assets
<br />20072006
<br />Revenues:
<br /> Program revenues:
<br /> Fines, fees, and charges for services$244,68088,583
<br /> Capital grants and contributions137,9660
<br /> General revenues:
<br /> Taxes4,253,4654,221,523
<br /> Investment earnings545,793371,498
<br /> Total revenues5,181,9044,681,604
<br />Expenses:
<br /> Urban renewal redevelopment3,728,0284,240,893
<br /> Total expenses3,728,0284,240,893
<br />Increase (decrease) in net assets 1,453,876440,711
<br />Net assets, July 117,152,45316,711,742
<br />Net assets, June 30$18,606,32917,152,453
<br />The Agency’s net assets increased by $1.5 million compared to $0.4 million in the prior year. The key factors for
<br />the larger increase in FY07 were an increase of $0.2 million in fines, fees, and charges for services, and a $0.2
<br />million increase in investment earnings, combined with a decrease of $0.5 million in development expenditures.
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