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<br />CITY OF CENTERVILLE, MINNESOTA
<br />STATEMENT OF NET ASSETS
<br /> PROPRIETARY FUNDS
<br /> DECEMBER 31, 2003
<br /> Business-type activities -
<br /> Enterprise Funds
<br /> Totals
<br /> Water Sewer Current Year
<br />ASSETS
<br />CURRENT ASSETS
<br />Cash and temporary investments $ 1,356,310 $ 1,999,018 $ 3,355,328
<br />Receivables
<br />Accrued interest 4,080 6,032 10,112
<br />Accounts 48,392 71,116 119,508
<br />Special assessments
<br />Delinquent 13,014 14,520 27,534
<br />Inventories 11,423 11,423
<br />TOTAL CURRENT ASSETS 1,433,219 2,090,686 3,523,905
<br />NONCURRENT ASSETS
<br />Special assessments receivable - deferred 227,086 153,635 380,721
<br />Deferred charges 1,781 2,176 3,957
<br />Capital assets 2,792,284 2,935,051 5,727,335
<br />Less accumulated depreciation (427,857) (581,536) (1,009,393)
<br />TOTAL NONCURRENT ASSETS 2,593,294 2,509,326 5,102,620
<br />TOTAL ASSETS 4,026,513 4,600,012 8,626,525
<br />LIABILITIES AND NET ASSETS
<br />CURRENT LIABILITIES
<br />Accounts payable 1,590 2,710 4,300
<br />Accrued salaries payable 1,607 1,608 3,215
<br />Accrued interest payable 4,084 4,992 9,076
<br />TOTAL CURRENT LIABILITIES 7,281 9,310 16,591
<br />NONCURRENT LIABILITIES
<br />Due within one year 31,500 38,500 70,000
<br />Due in more than one year 177,000 223,000 400,000
<br />TOTAL NONCURRENT LIABILITIES 208,500 261,500 470,000
<br />TOTAL LIABILITIES 215,781 270,810 486,591
<br />NET ASSETS
<br />Invested in capital assets, net of related debt 2,155,927 2,092,015 4,247,942
<br />Restricted for future expansion 71,631 71,631
<br />Unrestricted 1,654,805 2,165,556 3,820,361
<br />TOTAL NET ASSETS $ 3,810,732 $ 4,329,202 $ 8,139,934
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<br />See Notes to Financial Statements.
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