Net (Expense) Revenue and Changes in Net AssetsProgram Revenues Primary GovernmentOperating CapitalCharges for Grants and Grants and Governmental Business-TypeExpenses Services Contributions Contributions Activities Activities TotalPrimary Government:Governmental Activities:General Government $ 33,212,469 40,374,802 984,808 - 8,147,141 - 8,147,141Public Safety 108,220,849 8,589,950 6,298,435 - (93,332,464) - (93,332,464)Public Works 28,971,676 2,158,284 1,555,902 32,935,915 7,678,425 - 7,678,425Health and Welfare 21,559,624 11,998,683 12,640,939 1,902,080 4,982,078 - 4,982,078Culture and Recreation 24,351,217 5,412,318 1,946,972 1,182,505 (15,809,422) - (15,809,422)Air Transportation 8,337,337 4,586,437 72,804 - (3,678,096) - (3,678,096)Interest and Other on Long-Term Debt 11,330,317 - - - (11,330,317) - (11,330,317)Total Governmental Activities 235,983,489 73,120,474 23,499,860 36,020,500 (103,342,655) - (103,342,655)Total Business-Type Activities 140,900,712 132,488,632 4,279,722 36,609,025 - 32,476,667 32,476,667Total Primary Government $ 376,884,201 205,609,106 27,779,582 72,629,525 (103,342,655) 32,476,667 (70,865,988)General Revenues:Property Taxes 69,142,902 - 69,142,902Sales Tax 39,050,113 6,311,745 45,361,858Franchise Tax 7,018,602 - 7,018,602Hotel Motel Tax 4,117,956 - 4,117,956Alcoholic Beverage Tax 329,521 - 329,521Unrestricted investment earnings 505,944 203,743 709,687Gain on sale of capital assets 1,327,296 152,893 1,480,189Bond Premium 829,086 5,439,668 6,268,754Transfers (Note 14) 5,842,964 (5,842,964) -Total general revenues and transfers 128,164,384 6,265,085 134,429,469Change in net assets 24,821,729 38,741,752 63,563,481Net assets-beginning 430,590,763 304,978,551 735,569,314Net assets-ending $ 455,412,492 343,720,303 799,132,795CITY OF LAREDO, TEXASSTATEMENT OF ACTIVITIESFor the Year Ended September 30, <strong>2011</strong>Functions/Programs19Business-Type Activities:Transit System 15,011,164 3,971,867 4,259,641 4,991,135 - (1,788,521) (1,788,521)Bridge System 41,558,090 46,433,396 13,727 55,901 - 4,944,934 4,944,934Waterworks System 42,840,185 36,301,316 - 30,068,701 - 23,529,832 23,529,832Sewer System 24,269,283 27,711,393 6,354 1,425,575 - 4,874,039 4,874,039Solid Waste Management System 15,794,014 16,657,612 - 67,713 - 931,311 931,311Municipal Housing 1,427,976 1,413,048 - - - (14,928) (14,928)The notes to the financial statements are an integral part of this statement.
CITY OF LAREDO, TEXASBALANCE SHEETGOVERNMENTAL FUNDSSeptember 30, <strong>2011</strong>OTHERTOTALDEBT GOVERNMENTAL GOVERNMENTALGENERAL SERVICE FUNDS FUNDSASSETSCash and Cash Equivalents:Cash $ 15,084 - 484,431 499,515Investments 38,286,530 8,269,231 121,011,349 167,567,110Receivable, net of allowances:Accrued Interest 40,502 3,913 1,451,867 1,496,282Taxes, Penalty and Interest (Note 6) 7,832,042 1,217,241 46,824 9,096,107Accounts (Note 6) 3,455,095 - 1,784,765 5,239,860Notes (Note 6) - - 14,760,391 14,760,391Paving Assessments (Note 6) - 7,870 - 7,870Due from Other Funds 2,955,441 - 2,950 2,958,391Due from Other Governments 358,194 - 6,543,295 6,901,489Inventory, at cost 14,937 - 69,161 84,098TOTAL ASSETS 52,957,825 9,498,255 146,155,033 208,611,113LIABILITIES AND FUND BALANCESLIABILITIESAccounts Payable 1,830,889 903 2,555,123 4,386,915Retainage Payable - - 2,344,195 2,344,195Accrued Wages and Employee Benefits 3,958,909 - 916,557 4,875,466Contracts Payable 34,843 - 4,144,471 4,179,314Customer and Tenant Deposits 625 - 155,724 156,349Due to Other Funds - - 3,171,805 3,171,805Due to Other Governments 387,044 - 92,000 479,044Due to Developers - - 337,187 337,187Deferred Revenue 11,225,075 1,225,324 17,990,827 30,441,226TOTAL LIABILITIES 17,437,385 1,226,227 31,707,889 50,371,501FUND BALANCES (Note 22)Nonspendable 14,937 - 119,161 134,098Restricted 786,681 8,272,028 95,987,821 105,046,530Committed 22,393,198 - 6,756,570 29,149,768Assigned 1,613,435 - 11,709,333 13,322,768Unassigned (Deficit) 10,712,189 - (125,741) 10,586,448TOTAL FUND BALANCES 35,520,440 8,272,028 114,447,144 158,239,612TOTAL LIABILITIES AND FUNDBALANCES $ 52,957,825 9,498,255 146,155,033Amounts reported for governmental activities in the statement of net assets are different because:Capital assets used in governmental activities are not financial resources and, therefore, are notreported in the funds. 572,956,104Other long-term assets are not available to pay for current-period expenditures and, therefore,are deferred in the funds. 9,806,101Internal service funds are used by management to charge the costs of fleet management, riskmanagement, and health benefits to individual funds. The assets and liabilities of the internalservice funds are included in the governmental activities in the statement of net assets. (72,468)Long-term liabilities, including bonds payable, are not due and payable in the current period andtherefore, are not reported in the funds. (Note 2) (285,516,857)Net assets of governmental activities $ 455,412,492The notes to the financial statements are in integral part of this statement.20
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