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<br />CITY OF CENTERVlLLE, MINNESOTA
<br /> STATEMENTS OF NET ASSETS
<br /> PROPRIETARY FUNDS
<br /> DECEMBER 31, 2005 AND 2004
<br /> Business-type Activities - Enterprise Funds
<br /> Water Sewer
<br /> 2005 2004 2005 2004
<br />ASSETS
<br />CURRENT ASSETS
<br />Cash and temporary investments $ 402,634 $ 856,731 $ 2,025,827 $ 2,156,799
<br />Receivables
<br />Accrued interest 631 3,043 3,489 7,752
<br />Accounts 49,904 47,688 83,013 75,358
<br />Special assessments
<br />Current 6,783 459 8,290 459
<br />Due from other funds 40,000
<br />Inventories 8,612 12,780
<br />Prepaid items 12,011
<br />TOTAL CURRENT ASSETS 468,564 960,701 2,132,630 2,240,368
<br />NONCURRENT ASSETS
<br />Special assessments receivable - deferred 153,933 184,145 88,425 112,964
<br />Deferred charges 1,484 1,813
<br />Capital assets
<br />Non-depreciable 1,310,687 76,447
<br />Depreciable 4,450,938 2,625,951 3,074,075 2,927,534
<br />Less accumulated depreciation (579,724) (503,768) (749,530) (666,188)
<br />TOTAL NONCURRENT ASSETS 4,025,147 3,618,499 2,412,970 2,452,570
<br />TOTAL ASSETS 4,493,711 4,579,200 4,545,600 4,692,938
<br />LIABILITIES
<br />CURRENT LIABILITIES
<br />Accounts payable 21,169 47,509 289 321
<br />Contracts payable 33,168
<br />Accrued salaries payable 993 3,886 999 3,886
<br />Accrued interest payable 3,507 4,286
<br />Due to other governments 953 615 5,653 10,692
<br />TOTAL CURRENT LIABILITIES 23,115 88,685 6,941 19,185
<br />NONCURRENT LIABILITIES
<br />Due within one year
<br />Bonds payable 33,750 41,250
<br />Accrued compensated absences payable 3,804 3,804
<br />Due in more than one year
<br />Bonds payable 143,250 181,750
<br />TOTAL NONCURRENT LIABILmES 3,804 177,000 3,804 223,000
<br />TOTAL LIABILITIES 26,919 265,685 10,745 242,185
<br />NET ASSETS
<br />Invested in capital assets, net of related debt 3,871,214 1,945,183 2,324,545 2,038,346
<br />Restricted for future expansion 71,631 71,631
<br />Unrestricted 595,578 2,368,332 2,138,679 2,340,776
<br />TOTAL NET ASSETS $ 4,466,792 $ 4,313,515 $ 4,534,855 $ 4,450,753
<br />The notes to the financial statements are an integral part of this statement.
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