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<br /> CITY OF CENTERVILLE, MINNESOTA
<br /> STATEMENTS OF NET ASSETS
<br /> PROPRIETARY FUNDS
<br /> DECEMBER 3 I, 2006 AND 2005
<br /> Business-type Activities - Enterprise Funds
<br /> Water Sewer
<br /> 2006 2005 2006 2005
<br />ASSETS
<br />CURRENT ASSETS
<br />Cash and temporary investments $ 541,512 $ 402,634 $ 2,187,926 $ 2,025,827
<br />Receivables
<br />Accrued interest 631 3,489
<br />Accounts 66,598 49,904 98,390 83,013
<br />Special assessments
<br />Current 461 6,783 328 8,290
<br />Inventories 8,472 8,612
<br />Prepaid items 12,344 12,011
<br />TOTAL CURRENT ASSETS 617,043 468,564 2,298,988 2,132,630
<br />NONCURRENT ASSETS
<br />Special assessments receivable - deferred 138,014 153,933 68,426 88,425
<br />Capital assets
<br />Depreciable 4,960,218 4,450,938 3,336,656 3,074,075
<br />Less accumulated depreciation (731,582) (579,724) (849,051) (749,530)
<br />TOTAL NONCURRENT ASSETS 4,366,650 4,025,147 2,556,031 2,412,970
<br />TOTAL ASSETS 4,983,693 4,493,711 4,855,019 4,545,600
<br />LIABILITIES
<br />CURRENT LIABILITIES
<br />Accounts payable 7,275 21,169 328 289
<br />Accrued salaries payable 918 993 918 999
<br />Due to other governments 767 953 5,653
<br />TOTAL CURRENT LIABILITIES 8,960 23,115 1,246 6,941
<br />NONCURRENT LIABILITIES
<br />Due within one year
<br />Accrued compensated absences payable 4,180 3,804 4,180 3,804
<br />TOTAL LIABILITIES 13,140 26,919 5,426 10,745
<br />NET ASSETS
<br />Invested in capital assets, net of related debt 4,228,636 3,871,214 2,487,605 2,324,545
<br />Restricted for future expansion 71,631 71,631
<br />Unrestricted 741,917 595,578 2,290,357 2,138,679
<br />TOTAL NET ASSETS $ 4,970,553 $ 4,466,792 $ 4,849,593 $ 4,534,855
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<br />The notes to the financial statements are an integral part of this statement.
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