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City of Redwood City 7.1. G. - Page 36 <br /> Management's Discussion and Analysis <br /> For the year ended June 30, 2013 <br /> City's Net Position (in Millions) <br /> Governmental Business -type <br /> Activities Activities Total <br /> 2013 2012 2013 2012 2013 2012 Variance <br /> $ $ $ $ $ $ <br /> Cash and investments 112.195 109.299 63.422 60.089 175.617 169.388 3.677% <br /> Other assets 35.798 32.638 42.398 44.648 78.196 77.286 1.177% <br /> Capital assets 193.550 191.394 183.989 175.002 377.539 366.396 3.041% <br /> Total assets 341.543 333.331 289.809 279.739 631.352 613.070 2.982% <br /> Long -term debt outstanding 12.896 15.764 84.073 87.008 96.969 102.772 - 5.646% <br /> Other liabilities 46.484 44.677 11.690 10.130 58.174 54.807 6.143% <br /> Total liabilities 59.380 60.441 95.763 97.138 155.143 157.579 - 1.546% <br /> Net Position: <br /> Net investment in capital assets 190.191 185.513 110.901 107.037 301.092 292.550 2.920% <br /> Restricted 43.957 39.239 6.638 5.868 50.595 45.107 12.167% <br /> Unrestricted 48.015 48.138 76.507 69.696 124.522 117.834 5.676% <br /> Total net position 282.163 272.890 194.046 182.601 476.209 455.491 4.548% <br /> The largest portion (63 %) of the City's net position reflects its capital assets (e.g., land, buildings, <br /> machinery, and equipment) less any related debt used to acquire those assets that is still outstanding. <br /> The City uses these capital assets to provide services to residents; accordingly, these assets are not <br /> available for future spending. Although the City's investment in capital assets is reported net of related <br /> debt, it should be noted that the resources needed to repay this debt must be provided from other <br /> sources, since the capital assets themselves cannot be used to liquidate these liabilities. <br /> An additional portion of the City's net position (10.6 %) represents resources that are subject to external <br /> restrictions on how they may be used. The remaining balance of unrestricted net assets ($124.5 million) <br /> may be used to meet the government's ongoing obligations (although portions of these unrestricted net <br /> assets may by law or contract be only used for specified purposes and may not necessarily be used for <br /> any general governmental purpose) to residents and creditors. <br /> At the end of the current fiscal year, the City is able to report positive balances in all three categories of <br /> net position, both for the government as a whole, as well as for its separate governmental and business - <br /> type activities. The same situation held true for the prior fiscal year. <br /> The City's net position increased by $20.7 million during the current fiscal year. <br /> 8 <br />