13-60 Lower S. Platte WCD - Grant Request

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Fund Financial Statements • A fund is a grouping of related accounts that is used to maintain control over resources that have been segregated for specific activities or objectives. Some funds are required to be established by State law, however, the District's Board has established other funds to help control and manage money for particular purposes or to show that it is properly using certain revenue (General Fund and the Capital Reserve Fund). Both of the funds of the District are governmental funds. Governmental funds. All of the District's basic services are reported in governmental funds, which focus on how money flows into and out of those funds and the balances left at year -end are available for spending, The funds are reported using an accounting method called modified accrual accounting, which measures cash and all other financial assets that can readily be converted to cash. The governmental funds statement provides a detailed, short- terrn view to cash, the governmental fund operations and the basic services it provides. Governmental fund information helps you determine whether there are more or fewer financial resources that can be spent in the near future to finance the District's programs. Because this information does not encompass the additional long -term focus of the government -wide statements, additional information at the bottom of the governmental funds statement is provided, or on the subsequent page, that explains the relationship (or differences) between them. The basic governmental fund financial statements can be found starting on page 10 of this report. 0 C 9 0 Notes to the Financial Statements The notes provide additional information that is essential to a full understanding of the data provided in the government -wide and fund financial statements. The notes to the financial statements can be found starting on page 14 of this report. FINANCIAL ANALYSIS OF THE DISTRICT AS A WHOLE As noted earlier, net assets may serve over time as a useful indicator of a government's financial position. In the case of the District, assets exceed liabilities by $576,819 at the close of 2011. Net Assets Combined net assets of the District as of December 31, 2011 are shown in Table 1 below. Table 1 NET ASSETS Current and other assets Capital assets Total assets Long -term debt outstanding Other liabilities Total liabilities Net assets Invested in capital assets Restricted for emergencies Unrestricted Total net assets Total liabilities and net assets -4- 2011 2010 % ChanQe $ 694,426 $ 740,212 -6.19% 166,900 177,872 - 6.17% $ 861326 $ 3,516 $ 9,877 - 64.41% 280,991 312,842 - 10.19% 284,507 322,719 - 11.84% 166,900 177,872 -6.17% 24,400 16,100 51.56% 374,547 401.393 -6.69% 576,819 595,365 -3.12% $ 861.32_6 $ 918.084 -6.19%