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<br />CITY OF CASSELBERRY, FLORIDA <br />COMMUNITY REDEVELOPMENT AGENCY <br />Statement of Revenues, Expenditures, and Changes in Fund Balance <br />Year Ended September 30, 2007 <br /> <br /> General <br /> Fund <br />Revenues <br />Contributions to the Trust Fund $ 806,341 <br />Investment income 94,081 <br />Rent 600 <br />Total revenues 901,022 <br />Expenditures <br />Current <br />General government 321,857 <br />On behalf interest payments 126,166 <br />Total expenditures 448,023 <br />Excess of revenues over expenditures 452,999 <br />Fund balance - beginning 1 ,284,108 <br />Fund balance - ending $ 1,737,107 <br /> <br />Amounts reported for governmental activities in the statement of activities are <br />different because: <br /> <br />Net change in fund balance - total governmental funds <br /> <br />$ <br /> <br />452,999 <br /> <br />Governmental funds report capital outlay as expenditures. However, in <br />the statement of activities, the cost of those assets is allocated over <br />their estimated useful lives and reported as depreciation expense. This <br />is the amount by which capital outlay exceeded depreciation in the <br />current period. <br /> <br />(3,434 ) <br /> <br />Abandoned construction in progress <br /> <br />(106,390) <br /> <br />Change in net assets of governmental activities <br /> <br />$ <br /> <br />343,175 <br /> <br />See notes to financial statements. <br /> <br />10 <br />