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Urban Renewal Agency’s Net Assets
<br />20092008
<br />Current and other assets $15,221,986 14,260,771
<br />Capital assets 5,258,104 6,658,188
<br /> Total assets 20,480,090 20,918,959
<br />Other Liabilities 4,995 101,013
<br /> Total liabilities 4,995 101,013
<br />Net assets:
<br /> Invested in capital assets 5,258,104 6,658,188
<br />Unrestricted15,216,99114,159,758
<br /> Total net assets $20,475,095 20,817,946
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<br />Urban Renewal Agency’s Change in Net Assets
<br />20092008
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<br />Revenues
<br /> Program revenues:
<br /> Fines, fees, and charges for services $768,807 292,438
<br /> Capital grants and contributions 428,190 1,196,114
<br /> General revenues:
<br /> Taxes 2,517,489 4,460,882
<br /> Investment earnings 397,213 608,146
<br /> Total revenues 4,111,699 6,557,580
<br />Expenses:
<br /> Urban renewal; redevelopment 4,014,550 4,345,963
<br /> Transfers out 440,000 0
<br /> Total expenses 4,454,550 4,345,963
<br />Increase (decrease) in net assets (342,851)2,211,617
<br />Net assets, July 1 20,817,946 18,606,329
<br />Net assets, June 30 $20,475,095 20,817,946
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<br />The Agency’s net assets decreased by $0.3 million compared to a $2.2 million increase in the prior year.
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