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Note 3—Cash and Investments <br /> Cash is comprised of$200 cash on hand, with cash in checking accounts of$11 6,596. <br /> Certificates of deposit consist of certificates with maturity dates of 90 days or more when <br /> purchased. <br /> Below is a summary of cash and certificates of deposit along with FDIC coverage. <br /> Cash <br /> Cash on Hand • $ 200 <br /> Insured FDIC 116,596 <br /> Total $116,79q <br /> Certificates of Deposit <br /> Insured FDIC $139,430 <br /> Total $139,430 <br /> Note 4 —Accounts Receivables <br /> Accounts receivable consist of unpaid portions of member assessments and water <br /> charges. <br /> Total Accounts Receivable $ 6,.169 <br /> Allowance for Bad Debts $ . -0- <br /> Allowance for had debts is estimated to be zero based on projected un-collectable <br /> membership and water sales billed by the association in 2011. <br /> Note 5-Accrued Interest Receivable <br /> Accrued interest receivable is the calculated interest earnings on individual certificates of <br /> deposit from the date of last interest payment through December 31, 2011. As of <br /> December 31,2011, accrued interest receivable was$47. <br /> Note 6—Water Inventory <br /> Water inventory is purchased water storage as of December 31, 2011. Carrying value is <br /> at cost. As of December 31,2011, purchased water on hand was$220,988. <br /> Note 7- Prepaids <br /> Prepaids is comprised of$1,126 prepaid insurance, $151,885 prepaid storage and prepaid <br /> rent of$597 for a total of$153,608. <br /> 6 <br />