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I
<br /> ITown of Palisade, Colorado
<br /> BALANCE SHEET- GOVERNMENTAL FUNDS
<br /> IDecember 31, 2009
<br /> I Non-Major
<br /> General Governmental
<br /> Fund Funds Total
<br /> I Assets
<br /> Cash and investments $ 2,160,210 $ 28,008 $ 2,188,218
<br /> Accounts receivable
<br /> I Fire,rescue and other(net of allowance) 87,600 - 87,600
<br /> Other governments 549,700 549,700
<br /> Franchise taxes 4,972 - 4,972
<br /> Property tax receivable 453,963 453,963
<br /> I Lodging tax receivable - 1,121 1,121
<br /> Total assets $ 3,256,445 $ 29,129 $ 3,285,574
<br /> I Liabilities and fund balances
<br /> Liabilities
<br /> Accounts payable $ 100,083 $ 2,683 $ 102,766
<br /> I Retainage payable 31,460 - 31,460
<br /> Accrued liabilities 15,415 15,415
<br /> Deferred revenue 453,963 - 453,963
<br /> I Compensated absences 124,417 124,417
<br /> Total liabilities 725,338 2,683 728,021
<br /> Fund balance
<br /> I Reserved:
<br /> Emergency reserve 100,927 100,927
<br /> Reserved for fire expenditures 65,025 - 65,025
<br /> I Unreserved 2,365,155 26,446 2,391,601
<br /> Total fund balance 2,531,107 26,446 2,557,553
<br /> Total liabilities and fund balance $ 3,256,445 $ 29,129 $ 3,285,574
<br /> I
<br /> Total governmental fund balances(as reported above) $ 2,557,553
<br /> I Amounts reported for governmental activities in the
<br /> statement of Net Assets are different because:
<br /> I Capital assets used in governmental activities are not financial
<br /> resources and are not reported in the funds 8,676,250
<br /> I Capital leases used in governmental activities are not financial
<br /> resources and are not reported in the funds (26,907)
<br /> 1 Net assets of governmental activities $ 11,206,896
<br /> I
<br /> The accompanying notes are an integral part of this financial statement.
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