Thảo luận và phân tích của ban quản lý Là quản lý của thành phố của Terrell, chúng tôi cung cấp cho độc giả của báo cáo tài chính của thành phố này tổng quan về câu chuyện và phân tích hoạt động tài chính cho năm tài chính kết thúc ngày 30 tháng 9 năm 2007. | Management s Discussion and Analysis As management of the City of Terrell we offer readers of the City s financial statements this narrative overview and analysis of the financial activities for the fiscal year ended September 30 2007. This discussion and analysis is designed to a assist the reader in focusing on significant financial issues b provide an overview of the City s financial activity c identify changes in the City s financial position its ability to address the next and subsequent years challenges d identify any material deviations from the financial plan the approved budget and e identify individual fund issues or concerns. We encourage readers to consider the information presented here in conjunction with additional information that we have furnished in our letter of transmittal which can be found on pages i - iv of this report. FINANCIAL HIGHLIGHTS The assets of the City of Terrell exceeded its liabilities at the close of the most recent fiscal year by 47 549 286 net assets . Of this amount 10 801 075 unrestricted net assets may be used to meet the City s ongoing obligations to citizens and creditors in accordance with the City s fund designation and fiscal policies. The City s total net assets increased by 3 807 091 from operations. However governmental capital assets decreased by 1 277 337 as a result of a capital asset inventory. The net effect was an overall increase in net assets of 2 529 754. As of the close of the current fiscal year the City of Terrell s governmental funds reported combined ending fund balances of 11 852 561 a decrease of 3 482 382 in comparison with the prior fiscal year due to adding an IT Department and Special Projects Department to the General Fund. Approximately 43 of this total amount 4 996 954 is available for spending at the City s discretion unreserved fund balance . At the end of the current fiscal year unreserved fund balance for the General Fund was 3 166 156 or 21 of the total General Fund expenditures. The City
