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BALANCE SHEET <br />NOVEMBER 2009 <br />CITY OF ELK RIVER <br />As of: 11/30/2009 <br />Fund Type: CU Component Unit <br />Fund: 910 - HRA <br />Assets <br />Acct Class: 1000 Current Assets <br />1010 Cash <br />1190 Notes Receivable <br />1310 Due From Other Funds <br />Acct Class: 1000 Current Assets <br />Acct Class: 1600 Capital Assets <br />1620 Buildings & Structures <br />Acct Class: 1600 Capital Assets <br />Liabilities <br />Acct Class: 2000 Current Liabilities <br />Building Purchase (non-current liability)** <br />Acct Class: 2000 Current Liabilities <br />ReservesBa(ances <br />Acct Class: 2400 Fund Equity <br />2400 Fund Balance <br />2600 Change In Fund Balance <br />.~. 3 <br />Page: 1 <br />Balances <br />546,695.88 <br />400,000.00 <br />369,125.92 <br />1,3 15,821.80 <br />720,000.00 <br />Total Assets 2,035,821.80 <br />320,070.29 <br />320,070.29 <br />Total Liabilities 320,070.29 <br />Acct Class: 2400 Fund Equity <br />Total ReservesBalances <br />Total Liabilities & Balances <br />1,694,608.89 <br />1,715,751.51 <br />2,035,821.80 <br />** =The City's financial system is on the modified accrual basis of accounting and the current financial resources measuremeni,focus. <br />"Government funds, with their focus on current financial resources, do not report liabilities for the following. Unmatured principal and interest <br />of long-term debt" (GAAFR, page 174). The City records long-term debt related liabilities as part of the GASB 34 conversion entries and will <br />show up on your year-end accrual statements. What finance will do is manually insert the long-term liability in your balance sheet to more <br />closely reflect accrual accounting. <br />