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<br /> • Notes to Financial Statements - The notes provide additional information that is
<br /> • essential to a full understanding of the data provided in the government-wide and fund
<br /> • financial statements. The notes to the financial statements can be found on pages 10
<br /> • through 23 of this report.
<br /> O Other Information - In addition to the basic financial statements and accompanying
<br /> • notes, this report also presents certain required supplementary information concerning
<br /> • the Town of Monument's General Fund actual versus budgetary expenditures and can be
<br /> found on page 26 of this report. The combining statements, referred to earlier in
<br /> • connection with non-major governmental and enterprise funds, are presented immediately
<br /> • following the required supplementary information. Combining and individual fund
<br /> • statements and schedules can be found on pages 27 through 34.
<br /> • Financial Analysis of the Town as a Whole
<br /> 0 As noted earlier, net assets may serve over time as a useful indicator of a government's
<br /> • financial position. This is the fifth year the Town has reported using the GASB 34
<br /> • model. Comparisons of 2007 to 2008 follow. In the case of the Town of Monument,
<br /> • assets exceeded liabilities by $10,142,497 at the end of 2007 and at the end of 2008 by
<br /> $16,704,667 an increase in Total Net Assets of$6,562,170 or 64.7%. The reason for the
<br /> • large increase is the inclusion of over $5,951,000 in net assets for the Town's
<br /> • infrastructure, which will be discussed later in this document. Allowing for this, the
<br /> • increase in Total Net Assets would be $610,930 or just over 6%.
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<br /> i Net Assets 2008 2007
<br /> 2008 2007 Business- Business-
<br /> • Governmental Governmental type type 2008 2007
<br /> Activities Activities Activities Activities Total Total
<br /> • Current and other assets $4,389,500 $5,381,794 $ 994,254 $1,467,535 $5,383,754 $6,849,329
<br /> • Capital assets,net 9,813,769 2,559,315 7,952,329 8,029,729 17,766,098 10,589,044
<br /> • Total assets 14,203,269 7,941,109 8,946,583 9,497,264 23,149,852 17,438,373
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<br /> • Long term liabilities 3,767,188 4,197,967 1,399,170 1,535,989 5,166,358 5,733,956
<br /> Other liabilities 1,151,410 1,206,874 127,417 355,046 1,278,827 1,561,920
<br /> • Total liabilities 4,918,598 5,404,841 1,526,587 1,891,035 6,445,185 7,295,876
<br /> •
<br /> O Net assets:
<br /> • Invested in capital assets, 6,236,548 (1,448,685) 6,586,341 6,670,128 12,822,889 5,221,443
<br /> net of related debt
<br /> • -
<br /> Restricted 110,429 123,992 110,429 123,992
<br /> • Unrestricted 2,937,694 3,860,961 833,655 936,101 3,771,349 4,797,062
<br /> • Total net assets $9,284,671 $2,536,268 $7,419,996 $7,606,229 $16,704,667 $10,142,497
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