<br />Note 3:
<br />
<br />Note 4:
<br />
<br />P- 1'1\",
<br />:.: , ~<'f, '-'..
<br />,~_, 'it:<,. ,; ~" '",'.- .-, ,_' _'
<br />,~.,lll "'..""', .'.-.- ..-.....' .....-.~_ ",...-,-:t;
<br />; II =j~~~1
<br />
<br />r~';1 f
<br />1;....1....,.'J'~6I t
<br />UlJu
<br />
<br />THE BIJOU IRRIGATION COMPANY
<br />
<br />NOTES TO FINANCIAL STATEMENTS
<br />
<br />NOTES RECEIVABLE
<br />
<br />On March 17, 2003, the Company loaned The Bijou Lateral Operating Committee $3,700 for the
<br />purchase of a ditch weed burner, receiving a promissory note for repayment. The note is to be paid
<br />on or before March 17, 2006. Interest on the note is 2.75% per annum, changing to 3.75% for any
<br />amount still not received by March 17,2006. The weedburner is collateral on the note. In 2005
<br />the Company received $402 of principal and $262 of interest.
<br />
<br />On August 11, 2004, the Company loaned The Bijou Lateral Ditch Company $3,000, receiving a
<br />promissory note for repayment. The note is to be paid on or before August 11,2007. Interest on
<br />the note is 3.5% per annum, changing to 5.5% for any amount still not received by August 11,
<br />2007. Security for payment is annual assessments from the Bijou Lateral Ditch Company
<br />members. The note was repaid in 2005. The Company received $3,000 in principal and $82
<br />interest.
<br />
<br />CAPITAL ASSETS
<br />
<br />The following is a summary of changes in the Capital Assets during the year:
<br />
<br />Governmental Activities
<br />Non-depreciable Assets
<br />Land (Bijou Reservoir Company)
<br />
<br />Depreciated Assets
<br />System Improvements
<br />Buildings & Improvements
<br />Bijou Ditch & Bijou NO.2 Reservoir
<br />Goedert pond rights
<br />Equipment
<br />Less: accumulated depreciation
<br />
<br />Total Depreciable Assets
<br />
<br />Net Capital Assets -
<br />Governmental Activities
<br />
<br />Balance
<br />December 31,
<br />2004
<br />
<br />Deletions
<br />and
<br />Adjustments
<br />
<br />Balance
<br />December 31,
<br />2005
<br />
<br />Additions
<br />
<br />$ 132,191 $ 132,191
<br />521,325 521,325
<br />109,801 109,801
<br />452,301 452,301
<br />87,188 87,188
<br />68,177 68,177
<br />(700,781) $ (19,374) (720,155)
<br />538,011 (19,374) 518,637
<br />
<br />$ 670,202
<br />
<br />$ (19,374)
<br />
<br />$ -0-
<br />
<br />$ 650,828
<br />
<br />Depreciation expense was charged to functions/programs of the primary government as follows:
<br />
<br />$19,374
<br />
<br />Conservation of Natural Resources
<br />
<br />-11-
<br />
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