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PINE RIVER IRRIGATION DISTRICT
<br /> BALANCE SHEETS
<br /> DECEMBER 31, 1994 & 1993
<br /> ASSETS 1994 1993
<br /> CURRENT ASSETS:
<br /> Cash& Investments $ 347,966 $ 449,505
<br /> Receivables: Accounts & Reimbursements 78,973 57,162
<br /> User Assessments (net) 75,515 66,942
<br /> Prepaid Expenses 9.546 7.902
<br /> 512.000 581.511
<br /> PROPERTY, PLANT & EQUIPMENT:
<br /> Vehicles, Furniture & Equipment 212,496 95,045
<br /> Less Accumulated Depreciation (68.955) ( 55,8521
<br /> 143,541 39.193
<br /> OTHER ASSETS:
<br /> Contract Rights to Pine River Project:
<br /> Original Construction 1,500,000 1,500,000
<br /> Improvements 483,585 474,043
<br /> 1,983,585 1,974.043
<br /> TOTAL ASSETS $2,639,126 $2,594,747
<br /> LIABILITIES & FUND EQUITY
<br /> CURRENT LIABILITIES:
<br /> Accounts Payable $ 646 $ 1,893
<br /> Prepaid User Assessment 1,097 414
<br /> Deferred Revenue 56,230 55,307
<br /> TOTAL LIABILITIES 57.973 57.614
<br /> FUND EQUITY:
<br /> Contributed Capital:
<br /> District 1,266,500 1,266,500
<br /> Federal Government 626,241 626,241
<br /> Hydro Electric 34.673 26,673
<br /> 1,927,414 1,919,414
<br /> Retained Earnings:
<br /> Reserved for Contingencies 648,989 614,869
<br /> Reserved for Emergencies 4,750 2,850
<br /> 653,739 617,719
<br /> TOTAL FUND EQUITY 2,581.153 2,537.133
<br /> TOTAL LIABILITIES & FUND EQUITY $2,639,126 $2.594,747
<br /> See Notes to Financial Statements
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