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PENROSE WATER DISTRICT
<br /> 340 Grant Street — Penrose,CO 81240
<br /> 2011 2010
<br /> Assets:
<br /> Current Assets $ 690,133 $ 2,411,560
<br /> Restricted Assets 187,250 547,440
<br /> Capital Assets,Net of Accumulated Depreciation 5,785,534 3,348,817
<br /> Other Assets 1,824,404 1,867,559
<br /> Total Assets $ 8,487,321 $ 8,175,376
<br /> Liabilities:
<br /> Current Liabilities $ (492,346) $ (3,380,791)
<br /> Long-Term Debt 3,510,000 (165,000)
<br /> Total Liabilities $ (4,002,346 $ (3,545,791)
<br /> Net Assets:
<br /> Invested in Capital Assets,Net of Related Debt $ 2,110,534 $ 23,817
<br /> Restricted 187,250 547,440
<br /> Unrestricted 2,187,191 4,058,328
<br /> Total Net Assets 7-7-1,487,7r $ 4,629,585
<br /> STATEMENTS OF ACTIVITIES
<br /> The following table reflects the change in net assets for fiscal year 2011 and 2010.
<br /> 2011 2010
<br /> Operating revenue $ 1,097,147 $ 1,032,179
<br /> Capital contributions 12,146 239,625
<br /> Taxes 149,320 146,301
<br /> Interest income 5,947 8,650
<br /> Total Revenues $ 1,264,560' $ 1,426,755
<br /> Cost of operations $ 1,253,927 $ 1,101,721
<br /> Interest expense(including bond amortization) 151,244 206,224
<br /> Other expenses 3,999 3,891
<br /> Total Expenses $ 1,409,170 $ 1,311,836
<br /> Change in net assets $ (144,610) $ 114,919
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