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Unrestricted net assets of Water and Wastewater Fund at the end of the year amounted to $52.0 million,
<br />and those for the Electric Fund amounted to $17.3 million. Other factors concerning the finances of
<br />these two funds have already been discussed in the discussion of the City of San Marcos' business -type
<br />activities in the government -wide financial statements.
<br />GENERAL FUND BUDGETARY HIGHLIGHTS
<br />For FY 2006 -07, actual expenditures on a budgetary basis were $31.17 million compared to the budget
<br />amount of $31.8 million. The $656,851 positive variance was due to savings achieved through a series
<br />of expenditure restrictions imposed by the City Manager's office during the year.
<br />For FY 2006 -07, actual revenues on a budgetary basis were $36.0 million as compared to the budget
<br />amount of $32.9 million. The majority of the $3.1 million variance was due to the sales tax revenues
<br />exceeding the original estimate.
<br />The City of San Marcos has a budgetary basis General Fund balance of $14.7 million as of the fiscal
<br />year -end, compared to the budgeted fund balance of $11.0 million. The variance in fund balance is
<br />primarily due to cost containment measures implemented by management and an increase in sales tax
<br />revenues.
<br />CAPITAL ASSET AND DEBT ADMINISTRATION
<br />Capital Assets. At the end of the fiscal year 2007, the City had $220.5 million invested in a broad
<br />range of capital assets, including police and fire equipment, buildings, park facilities, roads, bridges, and
<br />water and wastewater lines. (See Table 4 below.) For more detailed information on capital assets,
<br />please refer to the accompanying notes on pages 39 — 40.
<br />TABLE 4
<br />CITY OF SAN MARCOS' CAPITAL ASSETS AT YEAR -END
<br />(Net of Accumulated Depreciation)
<br />10
<br />Governmental Activities
<br />Business -type Activities
<br />Totals
<br />2007
<br />2006
<br />2007
<br />2006
<br />2007
<br />2006
<br />Land
<br />$ 4,865,153 $
<br />4,865,153 $
<br />1,295,061 $
<br />1,295,061 $
<br />6,160,214 $
<br />6,160,214
<br />Buildings
<br />16,373,421
<br />12,983,335
<br />6,369,767
<br />4,144,692
<br />22,743,188
<br />17,128,027
<br />Improvements other
<br />than buildings
<br />38,398,803
<br />19,315,306
<br />104,938,464
<br />58,982,796
<br />143,337,267
<br />78,298,102
<br />Equipment
<br />19,968,387
<br />5,342,963
<br />6,475,366
<br />2,310,560
<br />26,443,753
<br />7,653,523
<br />Construction in
<br />progress
<br />30,618,148
<br />24,588,431
<br />61,401,358
<br />52,011,327
<br />92,019,506
<br />76,599,758
<br />Infrastructure
<br />12,522,536
<br />5,840,863
<br />-
<br />-
<br />12,522,536
<br />5,840,863
<br />Total capital assets
<br />$ 122,746,448 $
<br />72,936,051 $
<br />180,480,016 $
<br />118,744,436 $
<br />303,226,464 $
<br />191,680,487
<br />10
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