SFPUC - Annual Reports Leading the Way | Page 12

Financial Performance Annual Report for the Fiscal Year Ending June 30, 2011 The Financial Performance pages represent the department-wide five-year history of net assets as well as revenues and expenses for our four enterprise funds: Water, Wastewater, Hetch Hetchy Water, and Hetch Hetchy Power. Statement of Net Assets Five-Year Comparison of Net Assets by Category 3. Net Assets: the residual interest in the items owned or controlled after deducting debts. condition as of June 30, 2011. Our assets exceeded our liabilities by nearly $2.0 billion (net assets); 83% of $2.69B $3.48B $0.23B that difference was represented by investments in capital assets, $1.41B $1.83B $2.89B $3.17B $0.24B $0.55B $1.37B $1.87B $1.66B $0.62B net of related debt. While total assets increased from last fiscal $3.05B $1.90B year by $1.2 billion in restricted bond proceeds and capital assets, $4.22B $0.49B $0.26B $1.33B $1.92B $3.55B $6.39B Our Statement of Net Assets reflected a strong and healthy financial $0.60B 2009 $5.20B $3.48B $0.79B 2008 $2.17B 2010 $5.20B 2007 $3.79B 1. Assets, current and capital: items owned or controlled; they represent resources used to provide future public services, or to pay liabilities incurred for services provided in prior periods; 2011 $3.95B $6.39B Current liabilities Non-current liabilities Net assets Current assets Capital assets $3.79B Over time, increases or decreases in net assets may serve as a useful indicator of whether the financial position is improv