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<br />'" <br /> <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />CHAPTER III <br />FINANCIAL STATUS AND SOURCES OF REVENUES <br /> <br />A. Financial Status <br /> <br />For the purpose of this feasibility study, the financial information <br />includes financial statements for the district dated December 31, 1978. These <br />financial statements were prepared by Mr. Frank R. Utter, a certified public <br />accountant. A copy of the complete statement is presented in Appendiz A of <br />this report. The basic data is summarized as follows: <br /> <br />BALANCE SHEET <br />(December 31, 1978) <br /> <br />Assets <br /> <br />Current Assets <br /> <br />85,211 <br /> <br />Utility Plant in Service <br />Real Estate Held For Sale <br /> <br />269,970 <br /> <br />Deposits <br /> <br />4,391 <br />8,870 <br /> <br />$368,442 <br /> <br />Liabilities and Retained Earnings <br /> <br />Current Liabilities <br /> <br />41,987 <br /> <br />General Obligation Bonds <br />Reserve for Water Development <br /> <br />Retained Earnings <br /> <br />145.000 <br /> <br />25,468 <br />155,987 <br /> <br />$368,442 <br /> <br />-8- <br />