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CITY OFCENTERVILLE, MINNESOTA
<br />STATEMENTS OF NET ASSETS
<br />PROPRIETARY FUNDS
<br />DECEMBER 31, 2011 AND 2010
<br />LIABILITIES
<br />CURRENT LIABILITIES
<br />Accounts payable
<br />Business -type Acti vi ti es -
<br />Enterprise Funds
<br />310
<br />466
<br />601
<br />-
<br />602
<br />-
<br />-
<br />Water
<br />2,881
<br />Sewer
<br />2,881
<br />3,380
<br />2011
<br />2010
<br />2011
<br />2010
<br />ASSETS
<br />Compensated absences payable
<br />5,796
<br />6,348
<br />5,796
<br />CURRENT ASSETS
<br />TOTAL CURRENT LIABILITIES
<br />12,590
<br />11,915
<br />13,402
<br />Cash and temporary investments
<br />$ 1,074,848 $
<br />961,881 $
<br />222,280 $
<br />169,273
<br />Receivables
<br />Advances from other funds
<br />-
<br />-
<br />-
<br />Accounts
<br />72,906
<br />70,995
<br />99,407
<br />94,349
<br />Sped al assessments
<br />Current
<br />63
<br />158
<br />63
<br />158
<br />Del i nquent
<br />9,149
<br />6,124
<br />-
<br />-
<br />Advances to other funds
<br />-
<br />-
<br />2,050,776
<br />2,038,474
<br />Inventories
<br />3,290
<br />3,411
<br />-
<br />-
<br />Prepad items
<br />1,301
<br />-
<br />16,609
<br />16,323
<br />TOTAL CURRENT ASSETS
<br />1,161,557
<br />1,042,569
<br />2,389,135
<br />2,318,577
<br />NONCURRENT ASSETS
<br />Special assessmentsreceivable - deferred
<br />72,565
<br />85,639
<br />52,408
<br />52,303
<br />Capital assets
<br />Land
<br />72,255
<br />72,255
<br />124,000
<br />124,000
<br />Buildings
<br />138,000
<br />138,000
<br />276,000
<br />276,000
<br />Infrastructure
<br />4,966,142
<br />4,966,141
<br />3,442,483
<br />3,442,482
<br />M achi nery and equipment
<br />243,626
<br />187,200
<br />96,742
<br />96,742
<br />Less accumul eked depreciation
<br />(1,602,132)
<br />(1,420,254)
<br />(1,419,374)
<br />(1,300,445)
<br />Net capital assets
<br />3,817,891
<br />3,943,342
<br />2,519,851
<br />2,638,779
<br />TOTAL NONCURRENT ASSETS
<br />3,890,456
<br />4,028,981
<br />2,572,259
<br />2,691,082
<br />TOTAL ASSETS
<br />5,052,013
<br />5,071,550
<br />4,961,394
<br />5,009,659
<br />LIABILITIES
<br />CURRENT LIABILITIES
<br />Accounts payable
<br />3,135
<br />1,228
<br />310
<br />466
<br />Contracts payable
<br />-
<br />-
<br />-
<br />-
<br />Accrued salaries payable
<br />2,881
<br />3,380
<br />2,881
<br />3,380
<br />Due to other governments
<br />778
<br />959
<br />4,415
<br />2,079
<br />Compensated absences payable
<br />5,796
<br />6,348
<br />5,796
<br />6,348
<br />TOTAL CURRENT LIABILITIES
<br />12,590
<br />11,915
<br />13,402
<br />12,273
<br />NONCURRENT LIABILITIES
<br />Advances from other funds
<br />-
<br />-
<br />-
<br />-
<br />TOTAL LIABILITIES
<br />12,590
<br />11,915
<br />13,402
<br />12,273
<br />NET ASSETS
<br />Invested in capital assets 3,817,891 3,943,342 2,519,851 2,638,779
<br />Restricted for future expansion - - 71,631 71,631
<br />Unrestricted 1,221,532 1,116,293 2,356,510 2,286,976
<br />TOTAL NET ASSETS $ 5,039,423 $ 5,059,635 $ 4,947,992 $ 4,997,386
<br />The notes to the fi nanci al statements are an integral part of this statement.
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