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<br />CITY OF CENTERVlLLE, MINNESOTA
<br />STATEMENT OF NET ASSETS
<br /> PROPRIETARY FUNDS
<br /> DECEMBER 31,2004
<br /> Business-type Activities.
<br /> Enterprise Funds
<br /> Water Sewer Total
<br />ASSETS
<br />CURRENT ASSETS
<br />Cash and temporary investments $ 856,731 $ 2,156,799 $ 3,013,530
<br />Receivables
<br />Accrued interest 3,043 7,752 10,795
<br />Acconnts 47,688 75,358 123,046
<br />Special assessments
<br />Current 459 459 918
<br />Due from other funds 40,000 40,000
<br />Inventories 12,780 12,780
<br />TOTAL CURRENT ASSETS 960,701 2,240,368 3,201,069
<br />NONCURRENT ASSETS
<br />Special assessments receivable - deferred 184,145 112,964 297,109
<br />Deferred charges 1,484 1,813 3,297
<br />Non-depreciable capital assets 1,310,687 76,447 1,387,134
<br />Capital assets 2,625,951 2,927,534 5,553,485
<br />Less accumulated depreciation (503,768) (666,188) (1,169,956)
<br />TOTAL NONCURRENT ASSETS 3,618,499 2,452,570 6,071,069
<br />TOTAL ASSETS 4,579,200 4,692,938 9,272,138
<br />LIABILITIES
<br />CURRENT LIABILITIES
<br />Acconnts payable 48,124 11,013 59,137
<br />Contracts payable 33,168 33,168
<br />Accrued salaries payable 3,886 3,886 7,772
<br />Accrued interest payable 3,507 4,286 7,793
<br />TOTAL CURRENT LIABILITIES 88,685 19,185 107,870
<br />NONCURRENT LIABILITIES
<br />Due within one year 33,750 41,250 75,000
<br />Due in more than one year 143,250 181,750 325,000
<br />TOTAL NONCURRENT LIABILITIES 177,000 223,000 400,000
<br />TOTAL LIABILITIES 265,685 242,185 507,870
<br />NET ASSETS
<br />Invested in capital assets, net of related debt 1,945,183 2,038,346 3,983,529
<br />Restricted for future expansion 71,631 71,631
<br />Unrestricted 2,368,332 2,340,776 4,709,108
<br />TOTAL NET ASSETS $ 4,313,515 $ 4,450,753 $ 8,764,268
<br />The notes to the furaucial statements are an integral part of this statement.
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