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CITY OF CENTERVILLE, MINNESOTA
<br />STATEMENT OF NET ASSETS
<br />DECEMBER 31, 2010
<br />GovernmentalBusiness-type
<br />ActivitiesActivitiesTotal
<br />ASSETS
<br />Cash and temporary investments$4,922,253$1,320,924$6,243,177
<br />Receivables
<br />Accrued interest15,122-15,122
<br />Delinquent taxes107,883-107,883
<br />Accounts61,651183,782245,433
<br />Special assessments2,173,970144,3822,318,352
<br />Due from other governments133,582-133,582
<br />Internal balances(1,928,474)1,928,474-
<br />Inventories-3,4113,411
<br />Prepaid items13,70916,32330,032
<br />Deferred charges154,694-154,694
<br />Capital assets not being depreciated7,346,192196,2557,542,447
<br />Capital assets net of accumulated depreciation8,772,0786,989,75415,761,832
<br />TOTAL ASSETS21,772,66010,783,30532,555,965
<br />LIABILITIES
<br />Accounts payable92,5271,69494,221
<br />Accrued salaries payable26,5927,29233,884
<br />Contracts payable71,119-71,119
<br />Due to other governments1143,0383,152
<br />Accrued interest payable134,750-134,750
<br />Deposits payable46,301-46,301
<br />Unearned revenue188,500-188,500
<br />Noncurrent liabilities - due within one year
<br />Compensated absences payable37,42912,38449,813
<br />Bonds payable843,854-843,854
<br />Noncurrent liabilities - Due in more than one year
<br />Compensated absences payable5,7181,5137,231
<br />Bonds payable9,965,585-9,965,585
<br />TOTAL LIABILITIES11,412,48925,92111,438,410
<br />NET ASSETS
<br />Invested in capital assets, net of related debt5,308,8317,186,00912,494,840
<br />Restricted for
<br />Future expansion-71,63171,631
<br />Debt service4,010,824-4,010,824
<br />Unrestricted 1,040,5163,499,7444,540,260
<br />TOTAL NET ASSETS$10,360,171$10,757,384$21,117,555
<br />The notes to the financial statements are an integral part of this statement.
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