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I <br /> Yuma County, Colorado <br /> Notes to the Financial Statements <br /> I December 31, 2009 <br /> (Continued) <br /> IIII. Detailed Notes on All Funds (continued) <br /> D. Interfund Receivables, Payables and Transfers <br /> I As of December 31, 2009, the Water Authority Public Improvement District owed the <br /> General Fund $95,227. In 2009, the General Fund loaned this amount to the Water <br /> Authority Public Improvement District for the payment of a debt service amount owed to <br /> I the Colorado Water Conservation Board. This debt obligation is subsequently explained <br /> in the financial statement notes. The Water Authority Public Improvement District will <br /> reimburse the General Fund in 2010 for this balance. <br /> ITransfers for 2009 were as follows: <br /> Transferred from Transferred to Amount Reason <br /> General Fund Landfill Fund $ 92,235 Fund landfill operations <br /> I Landfill Fund Landfill Closure Fund 5,000 Fund closure costs <br /> Landfill Fund Capital Acquisition Fund 6,000 Fund lease payment <br /> General Fund Capital Acquisition Fund 300,317 Fund capital outlay <br /> I Recreation Fund Capital Acquisition Fund 400,000 Fund capital outlay <br /> General Fund Sheriffs Victim Assistance 13,801 Fund grant costs <br /> and Grant Fund <br /> I General Fund Separation of Employment 50,000 Fund employee liability <br /> Road&Bridge Fund Gravel Fund 36,000 Pay gravel lease <br /> Total $ 903,353 <br /> 1 E. Operating Leases <br /> I The County is committed to leases for office equipment, computer systems and <br /> equipment and gravel. These leases are considered, for accounting purposes, to be <br /> operating leases, and therefore, the liability and the related assets have not been <br /> recorded on these financial statements. The gravel lease is $36,000 per year through <br /> I 2009. <br /> F. Long-term Liabilities <br /> I1. Capital Lease <br /> In 2005, the County entered into a lease purchase agreement in the amount of <br /> I $116,000, bearing interest at 4.0% annually. Principal and interest payments <br /> totaling$2,622 were due monthly, with a final payment of$5,088 due July 15, <br /> 2009. The proceeds of the lease were used to purchase a wheel loader. The <br /> leased assets are accounted for in the Statement of Net Assets. The County has <br /> I appropriated amounts from the Landfill Fund to meet the lease payments. This <br /> obligation has been paid in full as of December 31, 2009. <br /> 2. General Obligation Bonds, Series 2008 <br /> IThe Yuma County Water Authority Public Improvement District, a blended <br /> component unit of the County, issued$5,780,000 of general obligations bonds in <br /> I 2008, the proceeds of which were used to acquire water rights. These bonds <br /> bear interest at annual rates ranging from 3.25%to 4.60%. Starting in 2010, <br /> principal payments ranging from $100,000 to$555,000 are due annually on <br /> December 1, through 2023. Starting in 2010, interest payments are due June 1 <br /> Iand December 1, through 2023. <br /> D11 <br />