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VLAWMO Annual Financial Report 2009
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VLAWMO Annual Financial Report 2009
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9/19/2019 2:33:19 PM
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Finance Dept
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Audit
Finance Number Identifier
VLAWMO Annual Financial Report 2009
Date
12/31/2009
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Management's Discussion and Analysis - Continued <br />March 24, 2010 <br />Government -wide Financial Analysis <br />As noted earlier, net assets may serve over time as a useful indicator of a government's financial position. In the case of the <br />Organization, assets exceeded liabilities by $418,161 at the close of the most recent fiscal year. <br />The largest portions of the Organization's net assets are unrestricted and available to meet the ongoing needs of the Organization. <br />The other 39 percent reflects its investment in capital assets (e.g., land, buildings, machinery and equipment). The Organization <br />uses these capital assets to provide services to its member cities; consequently, these assets are not available for future spending. <br />Assets <br />Current <br />Capital, net of accumulated depreciation <br />Total assets <br />Liabilities <br />Current <br />Noncurrent <br />Total liabilities <br />Net assets <br />Invested in capital assets <br />Unrestricted <br />Total net assets <br />Summary of Net Assets <br />December 31, Increase <br />2009 2008 (Decrease) <br />$ 794,973 $ 654,832 <br />163,402 157,308 <br />$ 140,141 <br />6,094 <br />958,375 812,140 146,235 <br />530,016 438,557 <br />10,198 9,115 <br />540,214 447,672 <br />163,402 157,308 <br />254,759 207,160 <br />$ 418,161 $ 364,468 <br />91,459 <br />1,083 <br />92,542 <br />6,094 <br />47,599 <br />$ 53,693 <br />At the end of the current fiscal year, the Organization is able to report positive balances in both categories of net assets. <br />-15- <br />
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