Laserfiche WebLink
SOUTHEASTERN COLORADO WATER CONSERVANCY DISTRICT <br />NOTES TO FINANCIAL STATEMENTS <br />DECEMBER 31, 2005 <br />NOTE 3 -RECEIVABLES (Cont'd.) <br />Governmental funds report deferred revenue in connection with the taxes levied for future periods, along with <br />cash received from the Fountain Valley Authority to satisfy the prepaid contract obligation. The components <br />of deferred revenue at December 31, 2005 for governmental activities is as follows: <br />Governmental <br />Activities <br />General Fund Total <br />Property taxes $ 5,779,892 $ 5,779,892 <br />Fountain Valley Authority 5,352,752 5,352,752 <br />11.13 2.644 <br />NOTE 4 - INTERFUND RECEIVABLES/PAYABLES/TRANSFERS <br />The following table summarizes advances to/from other funds at December 31, 2005: <br />Advances to <br />Other Funds <br />Major governmental fund - <br />Advance due general fund from water activity <br />enterprise fund $ 423,000 <br />Major enterprise fund - <br />Advance due general fund from water activity <br />enterprise fund <br />$ 423,000 <br />$ 11.132.644 <br />Advances from <br />Other Funds <br />$ - <br />423,000 <br />$ 423,000 <br />The advance due the general fund from the water activity enterprise fund was authorized by the board of <br />directors in 2000. The advance does not carry an interest rate and since the transaction did not involve the use <br />of cash at the time of authorization, the transfer was accounted for as an operating transfer in accordance with <br />generally accepted accounting principles. The following is the anticipated debt service requirements: <br />Year ended December 31 <br />2006 <br />2007 <br />2008 <br />2009 <br />2010 <br />$ 90,000 <br />90,000 <br />90,000 <br />90,000 <br />63,000 <br />$ 423,000 <br />-25- <br />