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Proprietary funds. The City of St. Anthony, Minnesota's proprietary funds provide the same type of information found in the government -wide financial statements, but in more detail. Unrestricted net assets in the Liquor Operations and Water and Sewer Funds at the end of the year amounted to $5,642,649. The total net assets for each fund were: Liquor— $2,168,070; Water and Sewer— $8,241,812. General Fund Budgetary Highlights Variances from actual to budget can be briefly summarized as follows: • Licenses and permits were $50,937 less than budget due to construction related permits being $50,319 less than anticipated. • Fire State Aid was less than budget by $19,926 but consistent with the amount received for 2010. State Aid is based on insurance premiums paid. Fire State aid budget for 2012 was reduced to $35,700. • Investment income was $20,411 less than budget because rates were significantly lower than prior years and substantial funds were held in money market funds. • Miscellaneous revenues were $54,430 more than budget due to reimbursements of development related costs. • Police protection — personnel services were $54,212 less than budget due to less overtime incurred. • Protective Inspections were $29,136 less than budget as contracted services required were less given reduction in construction permit activity. • Street maintenance personnel services costs were $15,525 greater than budget. However, these costs were consistent with 2010 actual costs. The same comment would apply other services and charges. • Parks and recreation personnel services costs were $11,603 less than budget due to a reallocation of the salaries while the Public Works Director was Acting City Manager. Capital Asset and Debt Administration Capital Assets. The City of St. Anthony, Minnesota's investment in capital assets for its governmental and business -type activities as of December 31, 2011 amounts to $44,898,679 (net of accumulated depreciation). This investment in capital assets includes land, buildings and structures, improvements, machinery and equipment, park facilities, roads and infrastructure. The total increase in the City of St. Anthony, Minnesota's investment in capital assets for the current fiscal year is 0.9%. 21 L.