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I
<br /> UTE WATER CONSERVANCY DISTRICT
<br /> STATEMENTS OF NET ASSETS 1
<br /> December 31, 2010 and 2009 1
<br /> ASSETS 2010 2009
<br /> CURRENT ASSETS
<br /> Cash and cash equivalents $ 10,114,972 $ 7,448,324
<br /> Investments 16,478,027 21,267,924
<br /> Accounts receivable, less allowance of$3,900 842,897 895,730
<br /> Loans receivable-current portion 11,698 11,463
<br /> Accrued interest receivable 186,754 256,196
<br /> Accrued property taxes receivable 856,875 826,187
<br /> Inventories 736,847 847,283 I
<br /> Prepaid expenses 14,959 13,988
<br /> TOTAL CURRENT ASSETS 29,243,029 31,567,095
<br /> NON-CURRENT ASSETS
<br /> Restricted investments 3,323,116 3,323,116
<br /> Capital assets-not being depreciated 20,249,515 23,330,126
<br /> Capital assets-being depreciated 155,516,235 151,054,931
<br /> Loans receivable- long term portion 686,875. 730,926
<br /> Deferred charges 110,662 129,946
<br /> I
<br /> TOTAL NON-CURRENT ASSETS 179,886,403 178,569,045
<br /> TOTAL ASSETS 209,129,432 210,13 6,140
<br /> LIABILITIES I
<br /> CURRENT LIABILITIES
<br /> Accounts payable 805,732 1,223,559
<br /> Accrued interest payable 84,932 137,245 1
<br /> Accrued wages payable 194,026 185,024
<br /> Current portion of bonds payable 895,000 845,000
<br /> Current portion of notes payable 1,133,919 1,080,726
<br /> Compensated absences payable 22,286 23,138
<br /> Deferred revenue from property taxes 856,875 826,187
<br /> TOTAL CURRENT LIABILITIES 3,992,770 4,320,879
<br /> NON-CURRENT LIABILITIES
<br /> Compensated absences payable 221,835 248,088
<br /> Deferred lease revenue 67,327 74,353 1
<br /> Bonds payable, less current maturities 13,281,115 14,172,460
<br /> Notes payable, less current maturities 23,580,534 24,714,453
<br /> TOTAL NON-CURRENT LIABILITIES 37,150,811 39,209,354 1
<br /> TOTAL LIABILITIES 41,143,581 43,530,233
<br /> NET ASSETS
<br /> Invested in capital assets, net of related debt 136,985,844 133,702,364
<br /> Restricted for debt service 3,323,116 3,323,116
<br /> Unrestricted 27,676,891 29,580,427 1
<br /> TOTAL NET ASSETS $ 167,985,851 $ 166,605,907
<br /> The accompanying notes are an integral part of these statements. I
<br /> 8 1
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