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Urban Renewal Agency's Net Assets
<br />~nnu ~nm
<br />Current and other assets
<br />Capital assets
<br />Total assets
<br />$ 14,260,771 13,085,800
<br />6,658,188 5,561,595
<br />20, 918, 959 18, 647, 395
<br />Other liabilities
<br />Total liabilities
<br />101,013 41,066
<br />101,013 41,066
<br />Net assets:
<br />Invested in capital assets 6,658,188 5,561,595
<br />Unrestricted 14,159,758 13,044,734
<br />Total net assets $ 20,817,946 18,606,329 ,
<br />Urban Renewal Agency's Change in Net Assets
<br />Revenues:
<br />Program revenues:
<br />Fines, fees, and charges for services
<br />Capital grants and contributions
<br />General revenues:
<br />Taxes
<br />Investment earnings
<br />Total revenues
<br />Expenses:
<br />Urban renewal redevelopment
<br />Total expenses
<br />Increase (decrease) in net assets
<br />Net assets, July 1
<br />Net assets, June 30
<br />~nnu ~nm
<br />$ 292,438 244,680
<br />1,196,114 137,966
<br />4,460.,882 4,253,465
<br />608,146 545,793
<br />6,557,580 5,181,904
<br />
<br />4,345,963 3,728,028
<br />4,345,963 3,728,028
<br />2,211,617 1,453,876
<br />18,606,329 17,152,453
<br />$ 20,817,946 18,606,329
<br />The Agency's net assets increased by $2.2 million compared to $1.5 million in the prior year. The key factors for
<br />the larger increase in FY08 were an increase of $1.1 million in capital grants and contributions., a $0.2 million
<br />increase in tax revenue, and a $0.6 million decrease in expenses.
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