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<br />CITY OF CENTERVILLE, MINNESOTA
<br />BALANCE SHEET
<br />GOVERNMENTAL FUNDS
<br />DECEMBER 31, 2007
<br />
<br /> Debt
<br /> General Service Park
<br />ASSETS
<br />Cash and temporary investments (deficits) $ 2,083,608 $ 2,393,899 $ 86,038
<br />Receivables
<br />Accrued interest 20,660
<br />Delinquent taxes 84,827
<br />Accounts 11,191
<br />Special assessments 12,404 1,370,776
<br />Due from other governments 2,653
<br />Prepaid items 7,093 6,247
<br />TOTAL ASSETS $ 2,222,436 $ 3,770,922 $ 86,038
<br />LIABILITIES AND FUND BALANCES (DEFICITS)
<br />LIABILITIES
<br />Accounts payable $ 136,678 $ 4,000 $ 10,656
<br />Advances from other funds 400,000 275,000
<br />Due to other governments 138,963
<br />Contracts payable
<br />Accrued salaries payable 13,604
<br />Accrued compensated absences payable
<br />Deferred revenue 98,027 1,356,319
<br />TOTAL LIABILITIES 787,272 1,360,319 285,656
<br />FUND BALANCES (DEFICITS)
<br />Reserved for debt service 2,441,390
<br />Reserved for prepaid items 7,093 6,247
<br />Unreserved
<br />Designated for, reported in the General fund
<br />Working capital 1,428,071
<br />Undesignated, reported in
<br />Special revenue funds
<br />Debt Service fund (37,034)
<br />Capital projects funds (199,618)
<br />TOTAL FUND BALANCES (DEFICITS) 1,435,164 2,410,603 (199,618)
<br />TOTAL LIABILITIES AND FUND BALANCES (DEFICITS) $ 2,222,436 $ 3,770,922 $ 86,038
<br />
<br />The notes to the financial statements are an integral part of this statement.
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