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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 $2,801,793 at the close
<br />of the most recent fiscal year. This compares with $2,624,224 at the close of the previous fiscal
<br />year, an increase of $177,569. Cash and investments increased $231,505 due to a transfer to the
<br />City in the current year. Capital assets decreased due to depreciation.
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<br />Net Position
<br />2015
<br />2014
<br />Current and other assets
<br />$ 713,478
<br />$ 481,973
<br />Capital assets
<br />2,088,315
<br />2,142,251
<br />Total assets
<br />2,801,793
<br />2,624,224
<br />Short-term liabilities outstanding
<br />-
<br />-
<br />Net position:
<br />Net invested in capital assets
<br />2,088,315
<br />2,142,251
<br />Unrestricted
<br />713,478
<br />481,973
<br />Total net position
<br />$ 2,801,793
<br />$ 2,624,224
<br />Governmental Activities. Governmental activities
<br />increased the CRA's
<br />net position by
<br />$177,569 in fiscal year 2015. A 7.58% increase in revenue was caused by increased City of
<br />Casselberry (the "City") and Seminole County (the "County')
<br />contributions to the Trust Fund.
<br />This increased contribution is a result of the appreciation in property values on which City and
<br />County contributions are based. General government
<br />expenses decreased due
<br />to a transfer in
<br />FY 2014 of $1,000,000 to the City that was utilized for the development of the Lake Concord
<br />Park project in accordance with the CRA Master Plan.
<br />Changes in Net Position
<br />2015
<br />2014
<br />General revenues:
<br />Intergovernmental
<br />$ 420,365
<br />$ 389,086
<br />Investment income
<br />2,172
<br />3,678
<br />Total general revenues
<br />422,537
<br />392,764
<br />Expenditures/Expenses:
<br />General government
<br />191,032
<br />1,224,609
<br />Depreciation
<br />53,936
<br />68,472
<br />Total expenses
<br />244,968
<br />1,293,081
<br />Change in net position
<br />177,569
<br />(900,317)
<br />Net position — beginning
<br />2,624,224
<br />3,524,541
<br />Net position — ending
<br />$ 2,801,793
<br />$ 2,624,224
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