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<br />CITY OF CASSELBERRY, FLORIDA
<br />MANAGEMENT'S DISCUSSION AND ANALYSIS - Continued
<br />September 30, 2005
<br /> Net Assets
<br /> Governmental Activities Business-type Activities Total
<br /> 2005 2004 2005 2004 2005 2004
<br />Assets
<br />Current and other Assets $ 18,392,866 $ 23,S30,750 $ 18.167,973 $ 17,731,086 $ 36,560,839 $ 41,261,836
<br />Capital Assets (Net) 29,559,517 23,337,414 29,141,819 29,228,529 58.701.336 52,565,943
<br />Total Assets 47,952.383 46,868,164 47.309,792 46,959,615 95,262,175 93,827,779
<br />liabilities
<br />Current and other liabilities 1.858,296 4.696,127 773,611 1,847,015 2,631,907 6,543.142
<br />Long-term liabilities 14,725,029 13,087,794 14,841,061 14.719,651 29,566,090 27.807,445
<br />T otalliabilities 16.583.325 17,783,921 15,614.672 16,566,666 32,197,997 34,350,587
<br />Net Assets
<br />Invested in Capital Assets,
<br />Net of Related Debt 14,496.569 9,936,SS3 14,584,718 13,809,267 29.081,287 23,745,820
<br />Restricted 8,716,250 9,023,048 8,716.250 9,023,048
<br />Unrestricted 8,156,239 10,124,642 17,110,402 16,S83,682 25,266,641 26,708,324
<br />Total Net Assets $ 31,369,058 $ 29,084,243 $ 31,695,120 $ 30,392,949 $ 63.064,178 $ 59,477,192
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<br />The largest portion of the City's net assets (46.1%) reflects its investment in capital assets (e.g., land,
<br />buildings, equipment, and infrastructure); less any related outstanding debt used to acquire those assets.
<br />The City uses these capital assets to provide services to citizens; consequently, these assets are not
<br />available for future spending. Although the City's investment in its capital assets is reported net of related
<br />debt, it should be noted that the resources needed to repay this debt must be provided from other
<br />sources, since the capital assets themselves cannot be used to liquidate these liabilities.
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<br />The City has restricted net assets ($8.7 million) for capital projects and speciai revenues. The remaining
<br />balance of unrestricted net assets ($25.3 million) may be used to meet the government's ongoing
<br />obligations to citizens and creditors.
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<br />There was a net increase of $2.3 million in net assets reported in connection with the City's governmental
<br />activities. This increase represents 7.3% of total net assets for governmental activities at year end.
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