<br />. COLORADO WATER CONSERVATION BOARD
<br /> CONSTRUCTION FUND
<br /> STATEMENTS OF NET ASSETS
<br /> June 30, 2004, 2003 and 2002
<br /> (See Accountanfs Compilation Report)
<br /> 2004 2003 2002
<br />CURRENT ASSETS
<br /> Cash and cash equivalents $ 74,676,377 $ 83,970,685 $ 88,077,654
<br /> Receivables
<br /> Interestreceivablefloans 4,527,931 3,981,480 3,956,205
<br /> Loans receivable - Current 5,707,821 5,142,449 5,420,508
<br /> Due from Severance Tax Trust Fund 262,347
<br /> 10,498,099 9,123,929 9,376,713
<br /> Prepaid expenses 51,070
<br /> Total current assets 85,174,476 93,094,614 97,505,437
<br />NONCURRENT ASSETS
<br />. Loans receivable - Long term 167,971,365 153,247,995 142,150,053
<br />Total noncurrent assets 167,971,365 153,247,995 142,150,053
<br /> Total assets $ 253,145,841 $ 246,342,609 $ 239,655,490
<br />CURRENT LIABILITIES
<br /> Accounts payable $ 1,424,686 $ 426,743 $ 378,821
<br /> Projects payable 516,500
<br /> Due to Severance Tax Trust Fund
<br /> Perpetual Base Account 560,396 527,840
<br /> Total current liabilities 1,424,686 1,503,639 906,661
<br />NET ASSETS
<br /> Restricted
<br /> Restricted forloans 167,971,365 153,247,995 142,150,053
<br /> Restricted for authorized projects under contract 26,536,203 22,325,949 10,940,267
<br /> Restricted for authorized projects not under contract 59,072,588 65,996,619 58,981,750
<br /> Unrestricted (1,859,001) 3,268,407 26,676,759
<br /> Total net assets 251,721,155 244,838,970 238,748,829
<br /> Total liabilities and net assets $ 253,145,841 $ 246,342,609 $ 239,655,490
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