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6.1. B. - Page 161 <br /> Fund Financia/ Statements <br /> The Fund Financial Statements provide detailed information about each of the <br /> Agency's most significant funds, called Major Funds. The concept of major <br /> funds, and the determination of which are major funds, was established under <br /> GASB Statement 34 and replaces the concept of combining like funds and <br /> presenting them in total. Instead, each Major Fund is presented individually, with <br /> all Non-major Funds summarized and presented only in a single column. <br /> Subordinate schedules present the detail of these Non-major funds. Major <br /> Funds present the major activities of the Agency for the year, and may change <br /> from year to year as a result of changes in the pattern of Agency's activities. <br /> All the Agency's Funds are Governmental Funds; financial statements for these <br /> Funds are prepared on the modified accrual basis, which means they measure <br /> only current financial resources and uses. Capital assets and other long-lived <br /> assets, along with long-term liabilities, are not presented in the Governmental <br /> Fund Financial Statements. <br /> Comparisons of Budget and Actual financial information are presented for the <br /> Redevelopment Agency Fund, the Low and Moderate Housing Fund and the <br /> 2003 Tax Allocation Bonds Fund. <br /> FINANCIAL ACTIVITIES OF THE AGENCY AS A WHOLE <br /> This analysis focuses on the net assets and changes in net assets of the <br /> Agency's Governmental Activities in the Agency-wide Statement of Net Assets <br /> and Statement of Activities that follow. <br /> Redevelopment Agency's Net Assets (in Millions) <br /> 2011 2010 Variance <br /> $ $ <br /> Cash and investments 16.385 13.316 23.047% <br /> Other assets 7.547 11.493 -34.334% <br /> Capital assets 16.370 19.984 -18.084% <br /> Total assets 40.302 44.793 -10.026% <br /> Long-term debt outstanding 43.851 43.550 0.691 % <br /> Other liabilities 4.129 4.582 -9.887% <br /> Totalliabilities 47.980 48.132 -0.316% <br /> Net assets: <br /> Invested in capital assets, <br /> net of debt -17.164 -14.849 -15.590% <br /> Restricted 19.065 19.078 -0.068% <br /> Unrestricted -9.579 -7.568 -26.572% <br /> Total net assets -7.678 -3.339 129.949% <br /> 5 <br />