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I I I I I I I I I I I I I I I I I I I c, Account Gro\lPs. Account gtoups are used to establish accounting control and accountability for the Di~trict' s general fIxed assets and general long- term debt. The following are the District's account groups: General Fixed Assets Account Group - This group of accounts is established to account for all fIxed assets of the District. General Long-Term Debt Account Group - This group of accounts is established to account for all long-term debt of the District. 2. Summary of Assets and LiabilitielL Based on the December 31, 1995 fInancial statements (see Appendix D), OMID has total assets valued at $7,206,075 and total liabilities of $791,473. OMID records (see Appendix D) indicate a total of $274,044 in cash and relatively liquid investments for 1995, and a total of $191,859 for 1994. 3. Sources of Revenue and Revenue Summary, Funds to carry out the responsibilities of the District are provided from revenues generated from water assessments and from the Grand Valley Power Plant pursuant to Contract No. 0-07-40-L3049 between the United States, Orchard Mesa Irrigation District, Grand Valley Water Users Association and Public Service Company of Colol1ldo. Additional funds from the Federal Salinity Program were approved in 1995 though these funds are not presently in use. Water Assessments, The OMID Board of Directors determines the assessed value of property within the District and determine~ the assessment to produce revenue, The Mesa County Commissioners collect the assessed taxes and distribute the revenue to OMID, For the year 1996, the OMID Board of Directors certifIed a total levy of 426 mills and an assessed valuation of $1,242,092 to produce $529,131 in revenue. For the year 1995, the OMID Board of Directors certifIed a total levy of 414 mills and an assesse<l valuation of $1,246,377 to produce $516,000 in revenue. The budgets for the respective years called for these revenues to be used as follows: Il-ll