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<br />CITY OF CASSELBERRY, FLORIDA <br />MANAGEMENT'S DISCUSSION AND ANAL YSIS - Continued <br />September 30, 2006 <br /> <br />Proprietary funds provide the same type of information as the government-wide financial statements, only <br />in more detail. The proprietary fund financial statements provide separate information for the Utility Fund, <br />which is considered to be a major fund of the City and the Self Insurance Internal Service Fund. <br /> <br />The basic proprietary fund financial statements follow the governmental fund financial statements. <br /> <br />Fiduciary funds <br /> <br />Fiduciary funds are used to account for resources held for the benefit of parties outside the government. <br />Fiduciary funds are not reflected in the government-wide financial statement because the resources of <br />those funds are not available to support the City's own programs. The accounting used for fiduciary <br />funds is similar to proprietary funds. The City only has a pension trust fund <br /> <br />The basic fiduciary fund financial statements can be found after the basic proprietary fund financial <br />statements. <br /> <br />Notes to the financial statements <br /> <br />The notes provide additional information Ihat is essential 10 a full understanding of the dala provided in <br />the government-wide and fund financial statements. The notes to the financial statements can be found <br />after the fiduciary fund financial statements. <br /> <br />Other information <br /> <br />In addition to the basic financial statements and accompanying notes, required supplementary <br />information is included which presents budgetary comparison schedules for the City's General Fund and <br />the major special revenue funds. Required supplementary information can be found following the notes <br />to the financial statements. <br /> <br />The combining statements referred to earlier in connection with nonmajor governmental funds are <br />presented in the other supplemental information section of this report. Combining and individual fund <br />schedules can be found after the required supplementary information. <br /> <br />Government-wide Financial Analysis <br /> <br />As noted earlier, net assets may serve over time as a useful indicator of a government's financial position. <br />In the case of the City, assets exceeded liabilities by $65.7 million at the close of the fiscal year ended <br />September 30, 2006. At the end of fiscal year 2006, the City is able to report positive balances in all three <br />categories of net assets, both for the government as a whole, as well as for its separate governmental <br />and business-type activities. <br /> <br />5 <br />