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Bellyache Ridge Metropolitan District Changes in Net Position <br /> Governmental <br /> Activities <br /> 2012 2011 <br /> Revenues: <br /> Program revenues: <br /> Charges for services 24,442 30,801 <br /> Operating grants and contributions 8,000 - <br /> General revenues: <br /> Property and specific ownership taxes 88,833 123,224 <br /> Interest and other revenue 1,361 1,886 <br /> Total Revenues 122,636 155,891 <br /> Expenses: <br /> General government 108,406 104,233 <br /> Total Expenses 108,406 104,233 <br /> Change in Net Position 14,230 51,658 <br /> Net Position-Beginning 832,178 780,520 <br /> Net Position-Ending 846,408 832,178 <br /> Overall Analysis <br /> The District's overall financial position, as measured by net position increased by a total of <br /> $14,230. The District's revenues consisted primarily of property taxes. The primary expenses of <br /> the District are operating and maintenance of the District's domestic water supply system. <br /> Although the District's overall net position increased moderately during 2012, the District invested <br /> over $500,000 of its liquid resources in capital assets reducing the unrestricted net position to <br /> approximately$40,000. <br /> Financial Analysis of the District's Funds <br /> As mentioned earlier, the District uses fund accounting to ensure and demonstrate compliance with <br /> finance-related legal requirements. <br /> Governmental Funds <br /> The focus of the District's governmental funds is to provide information on near-term inflows, <br /> outflows, and balances of expendable resources. Such information is useful in assessing the <br /> District's financing requirements. In particular,assigned and unassigned fund balance may serve as <br /> a useful measure of a government's net resources available for spending at the end of the fiscal <br /> year. <br /> As of the end of the current fiscal year,the District's governmental fund(s) reported an ending fund <br /> balance of $57,401, which is a decrease of ($483,923). Of this fund balance, $3,000 of this is <br /> nonspendable and $18,197 is restricted for emergencies. The remainder of the combined fund <br /> balance of$39,204 is unassigned,meaning that is available for spending at the District's discretion. <br /> Budget Variances <br /> The District amended its 2012 budget for capital outlays, increasing the budgeted amount from <br /> $480,000 to operated favorable to budget. Details of the budgets can be seen on pages 6 of this <br /> report for governmental funds. <br /> V <br />