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<br />
<br />I
<br /> CITY OF ELK RIVER, MINNESOTA
<br />I STATEMENT OF NET ASSETS
<br /> DECEMBER 31, 2004
<br />I Primary Government
<br /> Governmental Business-type Component
<br /> Activities Activities Total Unit - HRA
<br />I ASSETS
<br />Cash and investments $ 24,108,689 $ 11,769,765 $ 35,878,454 $ 117,916
<br /> Cash with fiscal agent 503,567 503,567
<br />I Receivables (net):
<br />Interest 35,678 72,789 108,467
<br /> Taxes 360,056 360,056 8,868
<br />I Accounts 394,981 1,434,197 1,829,178
<br />Special assessments 6,251,412 6,251,412
<br />Notes 582,615 582,615
<br />I Due from other governments 551,165 551,165
<br />Due from primary government 368,094
<br />Internal balances 139,604 (139,604)
<br /> Inventories 1,377,838 1,377,838
<br />I Prepaid items 418,164 38,180 456,344
<br />Deferred charges 148,810 148,810
<br /> Capital assets:
<br />I Nondepreciable 29,033,685 2,472,791 31,506,476
<br />Depreciable (net) 57,724,745 63,993,041 121,717,786
<br />I Total assets 120,104,361 81,167,807 201,272,168 494,878
<br />LIABILITffiS
<br /> Accounts payable 649,954 1,501,357 2,151,311 4,098
<br />I Salaries payable 103,791 19,763 123,554 851
<br />Due to other governments 243,958 20,560 264,518
<br /> Due to component unit 368,094 368,094
<br />I Accrued interest payable 345,549 199,425 544,974
<br />Unearned revenue 13,482 13,482
<br /> Non-current liabilities:
<br />I Due within one year 2,472,471 986,637 3,459,108
<br />Due in more than one year 18,430,130 13,384,497 31,814,627
<br />I Total liabilities 22,627,429 16,112,239 38,739,668 4,949
<br />NET ASSETS
<br /> Invested in capital assets,
<br />I net of related debt 67,061,167 52,377,687 119,438,854
<br />Restricted for:
<br /> Debt service 8,659,697 8,659,697
<br />I Landfill mitigation 2,189,343 2,189,343
<br />Capital equipment 114,478 114,478
<br /> Unrestricted 19,452,247 12,677,881 32,130,128 489,929
<br />I Total net assets $ 97,476,932 $ 65,055,568 $ 162,532,500 $ 489,929
<br />I The notes to the financial statements are an integral part of this statement.
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