Comprehensive Annual Financial Report for FY 2012 - Omnitrans

FINANCIAL SECTION
MANAGEMENT’S DISCUSSION AND ANALYSIS (CONTINUED)
NET POSITION
The Agency’s total net position for fiscal year ending June 30, 2012 increased $10.6 million or 7.9 percent above fiscal
year ended June 30, 2011. The $16.0-million increase in assets was offset by increases in both current and long-term
liabilities. Ongoing construction of the sbX BRT project, preliminary engineering and design work for the San Bernardino
Transit Center, and fixed-route bus replacement account for the majority of the increase in total assets.
OMNITRANS’ Statement of Net Position
Percent
Increase Increase
2012 2011 (Decrease) (Decrease)
ASSETS:
Current and other assets $40,204,481 41,450,301 (1,245,820) (3.0)
Net Capital Assets 136,758,507 119,480,534 17,277,973 14.5
Total Assets 176,962,988 160,930,835 16,032,153 10.0
LIABILITIES:
Current Liabilities 22,829,336 19,264,389 3,564,947 18.5
Long-term Liabilities 9,417,445 7,582,426 1,835,019 24.2
Total Liabilities 32,246,781 26,846,815 5,399,966 20.1
DEFERRED INFLOW OF RESOURCES:
Accumulated increase in fair value
of hedging derivatives (Note 12) 55,300 0 55,300 0.0
Total Deferred inflow of resources 55,300 0 55,300 0.0
NET POSITION:
Invested in capital assets 136,112,836 119,366,226 16,746,610 14.0
Restricted 0 0 0
Unrestricted 8,548,071 14,717,794 (6,169,723) (41.9)
Total Net Position $144,660,907 134,084,020 10,576,887 7.9
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2012 Comprehensive Annual Financial Report