C153316 Financials 2009/2010

• Contract/PO #: C153316
• Contractor Name: Winter Park Water and Sanitation District
• Contract Type: Loan
• Loan Projects - Doc Type: Report

Winter Park Water and Sanitation Di District
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NOTES TO FINANCIAL STATEMENTS
(continued)
December 31, 2010 and 2009
Capital contributions '
Tap fees are recorded as capital contributions when received. Water and sewer lines
contributed to the District by developers are recorded as capital contributions and
additions to the water and sewer system when received.
Debt issue costs
Debt issuance costs are reported as deferred charges and amortized over the term of
the related debt on a straight-line basis.
Budgets
In accordance with the State Budget Law, the District's Board of Directors holds public I
hearings in the fall each year to approve the budget and appropriate the funds for the
ensuing year. The appropriation is at the total fund expenditures level and lapses at
year-end. The District's Board of Directors can modify the budget by line item within
the total appropriation without notification. The total appropriation can only be
modified upon completion of notification and publication requirements.
Note 3—Cash and investments
Cash and investments are reflected on the December 31, 2010 and 2009 Statements
of Net Assets as follows:
2010 2009
Cash and cash equivalents $ 5,112,561 $ 6,163,181
Cash and cash equivalents- restricted 317,700 330,000
Investments 4,682,472 3,341,578
Total cash and investments $ 10,112,733 $ 9,834,759
Cash and investments as of December 31, 2009 and 2008 consist of the following:
111
Deposits with financial institutions $ 5,430,261 $ 6,493,181
Investments 4,682,472 3,341,578
Total cash and investments $ 10,112,733 $ 9,834,759
At December 31, 2010 and 2009, the District's cash deposits had bank balances of
$5,476,161 and $6,495,294, respectively, and carrying balances of $5,430,261 and
$6,493,181, respectively.
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