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<br />CITY OF CENTERVILLE, MINNESOTA
<br /> STATEMENT OF NET ASSETS
<br /> DECEMBER 31, 2005
<br /> Governmental Business-type
<br /> Activities Activities Total
<br />ASSETS
<br />Cash and temporary investments $ 5,729,419 $ 2,428,461 $ 8,157,880
<br />Receivables
<br />Accrued interest 10,166 4,120 14,286
<br />Delinquent taxes 42,939 42,939
<br />Accounts 14,445 132,917 147,362
<br />Special assessments 902,657 264,889 1,167,546
<br />Due from other governments 43,061 43,061
<br />Inventories 8,612 8,612
<br />Prepaid items 19,783 12,011 31,794
<br />Deferred charges 102,369 102,369
<br />Capital assets
<br />Land 1,213,300 1,213,300
<br />Depreciable assets (net of accumulated depreciation) 6,733,043 6,195,759 12,928,802
<br />TOTAL ASSETS 14,811,182 9,046,769 23,857,951
<br />LIABILITIES
<br />Accounts payable 82,471 21,458 103,929
<br />Accrued salaries payable 11,493 1,992 13,485
<br />Contracts payable 11,899 11,899
<br />Due to other governments 14,194 6,606 20,800
<br />Accrued interest payable 68,856 68,856
<br />Deposits payable 77,524 77,524
<br />Noncurrent liabilities
<br />Due within one year
<br />Accrued compensated absences payable 30,479 7,608 38,087
<br />Bonds payable 1,042,000 1,042,000
<br />Due in more than one year
<br />Bonds payable 5,010,750 5,010,750
<br />TOTAL LIABILITIES 6,349,666 37,664 6,387,330
<br />NET ASSETS
<br />Invested in capital assets, net of related debt 1,893,593 6,195,759 8,089,352
<br />Restricted for
<br />Future expansion 71,631 71,631
<br />Debt service 4,220,615 4,220,615
<br />Unrestricted 2,347,308 2,741,715 5,089,023
<br />TOTAL NET ASSETS $ 8,461,516 $ 9,009,105 $ 17,470,621
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<br />The notes to the financial statements are an integral part of this statement.
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