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<br /> CITY OF ELK RIVER, MINNESOTA
<br />
<br />STATEMENT OF NET ASSETS '
<br /> PROPRIETARY FtINDS
<br /> DECEMBER 31, 2010
<br />
<br /> Municipal Liqu or Garbage
<br /> Current Year Prior Year Current Year Prior Year
<br />ASSETS
<br />Current assets: '
<br />Cash and investments $ 4,122,226 $ 3,826,409 $ 467,670 $ 363,322
<br />Restricted cash and investments - - - -
<br />Cash with fiscal agent - - - -
<br />
<br />Receivables (net): '
<br />Interest 2],608 21,185 2,290 1,935
<br />Accounts - 1,181 12,028 7,297
<br />Due from other governments - - 19,312 53,099
<br />
<br />Due from other funds
<br />-
<br />-
<br />106,340
<br />95,831 '
<br />Inventories 899,467 852,451 - -
<br />Prepaid items 4,678 7,688 - -
<br />Total current assets 5,047,979 4,708,914 607,640 521,484 '
<br />Noncurrent assets:
<br />Deferred charges 1,688 2,102 - -
<br />Capital assets:
<br />
<br />Nondepreciable
<br />823,761
<br />823,761
<br />-
<br />- '
<br />Depreciable 3,051,787 3,270,350 - -
<br />Accumulated depreciation (1,224,548) (1,319,981) - -
<br />Total capital assets 2,651,000 2,774,130 - -
<br />
<br />Total noncurrent assets
<br />2,652,688
<br />2,776,232
<br />-
<br />- '
<br />Total assets 7,700,667 7,485,146 607,640 521,484
<br />LIABILITIES 1
<br />Current liabilities:
<br />Accounts payable 303,366 367,839 105,995 137,266
<br />Salaries payable 18,099 18,022 826 720
<br />
<br />Due to other governments
<br />-
<br />-
<br />-
<br />- '
<br />Due to other funds - - - -
<br />Unearned revenue 1,967 1,525 - -
<br />Accrued interest 16,500 18,375 - -
<br />
<br />Compensated absences payable -current
<br />29,464
<br />24,789
<br />-
<br />- '
<br />Notes payable -current - - - -
<br />Bonds payable -current 150,000 100,000 - -
<br />Total current liabilities 519,396 530,550 106,821 137,986 '
<br />Noncurrent liabilities:
<br />Compensated absences payable 46,585 58,586 - -
<br />Net other postemployment benefits obligation 4,126 4,126 - -
<br />
<br />Notes payable
<br />-
<br />-
<br />-
<br />- ,
<br />Bonds payable 730,000 880,000 - -
<br />Total noncurrent liabilities 780,71 1 942,712 - -
<br />Total liabilities 1
<br />300
<br />107 I
<br />473
<br />262 106
<br />821 137
<br />986 '
<br /> ,
<br />, ,
<br />, , ,
<br />NET ASSETS
<br />
<br />Invested in capital assets, net of related debt
<br />1,771,000
<br />1,794,130
<br />-
<br />- '
<br />Restricted for debt service - - - -
<br />Unrestricted 4,629,560 4,217,754 500,819 383,498
<br />Total net assets $ 6,400,560 $ 6,011,884 $ 500,819 $ 383,498 '
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