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Center of Colorado Water Conservancy District <br />Notes to Financial Statements <br />December 31, 2009 <br />NOTE B - CASH DEPOSITS, EQUIVALENTS and RELATED RISKS <br />The District has no investment policy that addresses a specific type of risk that it is <br />exposed to. <br />Cash and Cash Equivalent balances are summarized below: <br />FDIC <br />Insured COLOTRUST Total <br />$27,559 $643,660 $671,219 <br />NOTE C — RECONCILIATION of GOVERNMENT -WIDE and FUN 'FIRPMAL <br />STATEMENTS <br />For the year ended December 31, 2009, the following adjustments are port d to <br />reconcile the governmental fund financial statements to the gov rtlrnen - financial <br />statements: <br />1) Property Taxes are recorded in government -wide financial st timent- ement of net assets <br />using the accrual method and recordable when the lien att s; on quently, taxes levied <br />and resulting deferred revenue are adjusted out of the overn ntal fund financial <br />statements to arrive at the government -wide financial st nts. <br />2) Fixed assets, net of accumulated depreciation are r cord in a government -wide financial <br />statement of net assets. The charge for current. ye epr 'ation is reported in the <br />statement of activities. <br />3) Accrued interest on outstanding promisso h&' <br />orted in the government -wide <br />financial statement. <br />4) Outstanding promissory note debt is r porte " rrent portion -due within one year and <br />noncurrent -long -term portion. <br />5) The statement of activities report ences arising from the accruals, reversals and <br />overall adjustments on curre iooperating results. The statement of activities does not <br />report the expenditures for pits qut ays, i.e., the acquisition of capital assets, nor the <br />repayment of principal o o gtandi debt. <br />6) The statement of act' "tie a the annual results from participating in the joint <br />venture -HASP. ile a rable, the 2009 accretion was considered not available <br />to liquidate ge a ' ilities. <br />As a result of a diff 'ences that arise from measurement focus and accounting <br />methods, t two c unting presentations, i.e., governmental fund and government - <br />wide pre�it er' q views of the financial condition of the District. <br />Storage Facilities under Development and Under Construction 1,114,060 (597,238) <br />516,822 <br />James R. Tingle Reservoir - 609,894 - 609,894 <br />Subtotal Assets under Development -not Depreciated 4,392,399 21,344 - 4,413,743 <br />14 <br />