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TOWN OF LOS GATOS REDEVELOPMENT AGENCY <br />MANAGEMENT'S DISCUSSION AND ANALYSIS <br />which are Major Funds, was established by GASB Statement 34 and replaces the concept of <br />combining like funds and presenting them in total. Instead, each Major Fund is presented <br />individually, with all Non -major Funds summarized and presented only in a single column. <br />Subordinate schedules present the detail of these Non -major funds. Major Funds present the <br />major activities of the Agency for the year. The Agency's Major Funds may change from year to <br />year as a result of changes in the pattern of Agency's activities. <br />The Agency has three Major Governmental Funds in 2010. These are the Redevelopment Fund, <br />the Housing Set -Aside Fund, and the Certificate of Participation Fund, each of which is <br />discussed in detail below. <br />FINANCIAL ACTIVITIES OF THE AGENCY AS A WHOLE <br />This analysis focuses on the net assets and changes in net assets of the Agency as a whole. <br />Tables 1, 2 and 3 focus on the Agency's Governmental Statement of Net Assets and Statement of <br />Activities. <br />Governmental Activities <br />Governmental Net Assets presents total program assets and liabilities and the resulting allocation <br />of the Agency's net assets. <br />Table 1 <br />Governmental Net Assets at June 30, 2010 <br />(In Millions) <br />Cash and Investments <br />Other Assets <br />Capital Assets <br />Total Assets <br />Long Term Debt Outstanding <br />Other Liabilities <br />Total Liabilities <br />Net Assets: <br />Invested in Net Assets <br />Restricted <br />Unrestricted <br />Total Net Assets: <br />June 30, 2010 June 30, 2009 <br />$ <br />19.57 <br />$ <br />24.05 <br />0.58 <br />0.72 <br />7.11 <br />2.68 <br />$ <br />27.26 <br />$ <br />27.44 <br />25.27 <br />10.06 <br />5.80 <br />6.09 <br />$ <br />31.07 <br />$ <br />16.14 <br />7.11 <br />6.44 <br />(17.36) <br />$ (3.81) <br />1.99 <br />1136 <br />(2.04) <br />$ 1131 <br />E <br />