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<br /> ITown of Palisade, Colorado
<br /> STATEMENT OF NET ASSETS -PROPRIETARY FUNDS
<br /> IDecember 31, 2009
<br /> Non-major Total
<br /> I Water Fund Utility Fund Business-type
<br /> Assets
<br /> Cash and investments $ 737,106 $ 1,738,413 $ 2,475,519
<br /> I Customer accounts receivable(net of allowance)
<br /> Inventory(at cost) 121,850 44,777 166,627
<br /> 23,683 23,683
<br /> Total current assets 882,639 1,783,190 2,665,829
<br /> I Capital assets
<br /> Land 226,126 226,126
<br /> Sewer system(net of depreciation) - 1,049,098 1,049,098
<br /> Water system(net of depreciation) 11,355,342 - 11,355,342
<br /> I Buildings and improvements(net of depreciation) 6,216 6,216
<br /> Equipment and furniture(net of depreciation) 2,751 11,036 13,787
<br /> Bond Issuance Costs(net of amortization) 25,099 - 25,099
<br /> ITotal assets $ 12,272,047 $ 3,069,450 $ 15,341,497
<br /> Liabilities and net assets
<br /> I Accounts payable $ 3,973 $ 20,769 $ 24,742
<br /> Accrued wages 3,148 819 3,967
<br /> Accrued interest 58,259 928 59,187
<br /> I Compensated absences 30,556 10,723 41,279
<br /> Current portion-note and bonds payable 251,019 55,655 306,674
<br /> Total current liabilities 346,955 88,894 435,849
<br /> I Long-term portion notes and bonds payable 6,261,030 - 6,261,030
<br /> Total liabilities 6,607,985 88,894 6,696,879
<br /> I Net Assets
<br /> Invested in capital assets,net of related debt 4,852,260 1,230,605 6,082,865
<br /> Unrestricted 81 1,802 1,749,951 2,561,753
<br /> ITotal net assets 5,664,062 2,980,556 8,644,618
<br /> Total liabilities and net assets $ 12,272,047 $ 3,069,450 $ 15,341,497
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<br /> The accompanying notes are an integral part of this financial statement.
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