Comprehensive Annual Financial Report - St. Tammany Parish ...

funds are in this section. Required supplementary information and notes to required
supplementary information can be found on pages 82-91 of this report.
The combining statements referred to earlier in connection with non-major governmental
funds and internal service funds are presented along with non-major component unit
combining statements immediately following the notes to required supplementary
information. Combining and individual fund statements and schedules can be found on
pages 94-187 of this report.
Government-wide Financial Analysis
As noted earlier, net assets may serve over time as a useful indicator of a government’s
financial position. In the case of St. Tammany Parish, assets exceeded liabilities by
$431,928,703 at the close of the most recent fiscal year.
The largest portion of the Parish’s net assets (50.3%) is the Parish’s investment in capital
assets (e.g., land, buildings, machinery, equipments, and infrastructure); less any related
debt used to acquire those assets that is still outstanding. The Parish uses these capital
assets to provide services to citizens; consequently, these assets are not available for
future spending. Although the Parish’s investment in its capital assets is reported net of
related debt, it should be noted that the resources needed to repay this debt must be
provided from other sources, since the capital assets themselves cannot be used to
liquidate these liabilities.
The second largest portion of the Parish’s net assets (46.3%) is unrestricted. This balance
of unrestricted net assets, $199,767,878, may be used to meet the Parish’s ongoing
obligations to citizens and creditors.
St. Tammany Parish Government’s Net Assets
Governmental Activities Business-type Activities Total
2010 2009 2010 2009 2010 2009
Current and other assets $259,097,043 $254,344,494 $10,717,334 $2,163,837 $ 269,814,377 $256,508,331
Capital assets, net 333,270,201 317,458,472 47,580,089 13,229,962 380,850,290 330,688,434
Total assets 592,367,244 571,802,966 58,297,423 15,393,799 650,664,667 587,196,765
Long-term liabilities
outstanding 129,143,396 130,646,771 41,456,886 - 170,600,282 130,646,771
Other liabilities 45,639,046 28,725,868 2,496,636 403,004 48,135,682 29,128,872
Total liabilities 174,782,442 159,372,639 43,953,522 403,004 218,735,964 159,775,643
Net assets:
Invested in capital assets,
net of related debt 211,328,735 193,187,928 6,123,203 13,229,962 217,451,938 206,417,890
Restricted 11,005,604 10,879,012 3,703,283 - 14,708,887 10,879,012
Unrestricted 195,250,463 208,363,387 4,517,415 1,760,833 199,767,878 210,124,220
Total net assets $417,584,802 $412,430,327 $14,343,901 $14,990,795 $431,928,703 $427,421,122
The remaining portion of the Parish’s net assets (3.4%) represents resources that are
subject to external restrictions on how they may be used.
18