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MANAGEMENT'S�ISCUSSION AND QNALYSIS 6.1.F. - Page 35 City's Net Assets(in Millions) Governmental Business-type Activities Activities Total 2012 2011 2012 2011 2012 2011 Variance $ $ $ $ $ $ Cash and investments 109.299 114.220 60.089 48.000 169.388 162.220 4.419% Other assets 32.638 30.408 44.648 42.642 77.286 73.050 5.799% Capital assets 191.394 210.624 175.002 171.594 366.396 382.218 -4.140% Total assets 333.331 355.252 279.739 262.236 613.070 617.488 -0.715% Long-term debt outstanding 15.764 61.283 87.008 78.918 102.772 140.201 -26.697% Other liabilities 44.677 32.821 10.130 10.111 54.807 42.932 27.660% Total liabilities 60.441 94.104 97.138 89.029 157.579 183.133 -13.954% Net assets: Invested in capital assets, net of debt 185.513 169.198 107.037 101.836 292.550 271.034 7.938% Restricted 39.239 48.959 5.868 5.839 45.107 54.798 -17.685% U n restricted Other unrestricted net assets 48.138 42.991 69.696 65.532 117.834 108.523 8.580% Total net assets 272.890 261.148 182.601 173.207 455.491 434.355 4.866% The largest portion (64%) of the City's net assets reflects its capital assets (e.g., land, buildings, machinery, and equipment) less any related debt used to acquire those assets that is still outstanding. The City uses these capital assets to provide services to residents; accordingly, these assets are not available for future spending. Although the City's investment in capital assets is reported net of related debt, it should be noted that the resources needed to repay this debt must be provided from other sources, since the capital assets themselves cannot be used to liquidate these liabilities. An additional portion of the City's net assets (9.9%) represents resources that are subject to external restrictions on how they may be used. The remaining balance of unrestricted net assets ($117.8 million) may be used to meet the government's ongoing obligations (although portions of these unrestricted net assets may by law or contract be only used for specified purposes and may not necessarily be used for any general governmental purpose) to residents and creditors. At the end of the current fiscal year, the City is able to report positive balances in all three categories of net assets, both for the government as a whole, as well as for its separate governmental and business-type activities. The same situation held true for the prior fiscal year. The City's net assets increased by$21.1 million during the current fiscal year. 7