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<br />,I <br /> <br />1 j&~ Amity Mutual Irrigation Company <br /> <br />~ <br /> <br />STATEMENT OF CASH RECEIPTS AND DISBURSEMENTS <br />For Yeafs Ended December 31, 1990 and 1989 <br />Continued <br /> <br />Employee Receivable. <br />Fort Lyon Settlement <br />TOTAL CASH DISBURSEMENTS. <br />ENDING CASH BALANCE- <br />December 31 . . . . . . . . . . <br /> <br />1990 <br />( 709.34) <br />64,003.70 <br /> <br />1989 <br />626.29 <br />53,879.96 <br /> <br />556,218.82 <br /> <br />578,464.15 <br /> <br />S ( 1,592.84) <br /> <br />S (29,038.41) <br /> <br />REPRESENTED BY: <br />Petty Cash ... <br />Bank.operating Fund .. <br />TOTALCASH-Oecember31. <br /> <br />.......$ 125.00 <br />( 1,717.84) <br />S ( 1,592.84) <br /> <br />$ 125.00 <br />(29,163.41) <br />S (29,038.41) <br /> <br />NOTES TO FINANCIAL STATEMENTS <br />December 31, 1990 <br /> <br />NOTE A . SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES <br />Busln... Activity <br />The Company operates and maintains a canal for irrigatIon purposes for <br />the benefit of Its members. <br /> <br />Depreciation <br />For financial reporting purposes, depreciation of equipment is provided <br />on the straight-line and declining balance methods. <br /> <br />Income Taxe. <br />The company is a non profit 501(c) organization and exempt from federal <br />and state income taxes. <br /> <br />NOTE B. NOTES PAYABLE <br /> <br />,I <br /> <br />Wichita Bank for Cooperatives <br />Current Interest Rate is <br />10'%. Maturity 199136,720.00 <br />199240,759.00 <br />199345,321.00 <br /> <br />CURRENT LONG TERM BALANCE <br />$36,720.00 S86,080.00 S122,800.00 <br /> <br />u.s. Bureau of Reclamation <br />Current Interest Rate is <br />0%. Maturity 1991. <br /> <br />$11,533.81 <br /> <br />$11,533.81 <br /> <br />Page 11 <br /> <br />\ <br />