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Other Information. The CRA adopts an annual appropriated budget for its General Fund. A
<br />budgetary comparison statement has been provided for the General Fund to demonstrate
<br />compliance with this budget.
<br />Government -wide Financial Analysis
<br />As noted earlier, net position may serve over time as a useful indicator of a government's
<br />financial position. In the case of the CRA, assets exceeded liabilities by $3,524,541 at the close
<br />of the most recent fiscal year. This compares with $3,397,330 at the close of the previous fiscal
<br />year, an increase of $127,211. Cash and investments increased $146,862 due to decreased
<br />expenditure activity for the current year. Capital assets decreased due to depreciation.
<br />Governmental Activities. Governmental activities increased the CRA's net position by
<br />$127,211 in fiscal year 2013. A 6.97% reduction in revenue was caused by decreased City of
<br />Casselberry (the "City ") and Seminole County contributions to the Trust Fund. This decreased
<br />contribution is a result of the continued decrease in property values on which City and County
<br />contributions are based. General government expenses increased due to additional economic
<br />opportunity incentives awarded.
<br />Changes in Net Position
<br />2013
<br />Net Position
<br />2013
<br />2012
<br />Current and other assets
<br />$ 1,313,918
<br />$ 1,161,524
<br />Capital assets
<br />2,210,723
<br />2,265,806
<br />Total assets
<br />3,524,641
<br />3,427,330
<br />Short-term liabilities outstanding
<br />100
<br />30,000
<br />Net position:
<br />127,211
<br />Net position — beginning
<br />Invested in capital assets
<br />2,210,723
<br />2,265,806
<br />Unrestricted
<br />1,313,818
<br />1,131,524
<br />Total net position
<br />$ 3,524,541
<br />$ 3,397,330
<br />Governmental Activities. Governmental activities increased the CRA's net position by
<br />$127,211 in fiscal year 2013. A 6.97% reduction in revenue was caused by decreased City of
<br />Casselberry (the "City ") and Seminole County contributions to the Trust Fund. This decreased
<br />contribution is a result of the continued decrease in property values on which City and County
<br />contributions are based. General government expenses increased due to additional economic
<br />opportunity incentives awarded.
<br />Changes in Net Position
<br />Net position — ending
<br />2012
<br />$ 435,373
<br />3,890
<br />439,263
<br />189,595
<br />82,048
<br />271,643
<br />167,620
<br />3,229,710
<br />$ 3,524,541 $ 3,397,330
<br />2013
<br />General revenues:
<br />Contributions to the Trust Fund
<br />$ 405,030
<br />Investment income
<br />4,155
<br />Total general revenues
<br />409,185
<br />Expenses:
<br />General government
<br />226,891
<br />Depreciation
<br />55,083
<br />Total expenses
<br />281,974
<br />Change in net position
<br />127,211
<br />Net position — beginning
<br />3,397,330
<br />Net position — ending
<br />2012
<br />$ 435,373
<br />3,890
<br />439,263
<br />189,595
<br />82,048
<br />271,643
<br />167,620
<br />3,229,710
<br />$ 3,524,541 $ 3,397,330
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