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LA PORTE AREA WATER AUTHORITY <br /> STATEMENT OF NET ASSETS <br /> SEPTEMBER 30, 2010 <br /> ASSETS <br /> Current assets <br /> Cash $ 576,720 <br /> Investments 1,244,270 <br /> Receivables, net 167,816 <br /> Accrued interest receivable 265 <br /> Deferred charges 71,059 <br /> Restricted assets <br /> Restricted cash 684,768 <br /> Total current assets 2,744,898 <br /> Capital assets <br /> Water production and distribution system 15,312,130 <br /> Construction in progress 123,680 <br /> Less: accumulated depreciation ( 7,237,170) <br /> Total noncurrent assets 8,198,640 <br /> Total assets 10,943,538 <br /> LIABILITIES <br /> Current liabilities • <br /> Accounts payable 104,077 <br /> Current liabilities (payable from restricted assets): <br /> Current portion of revenue bonds 604,232 <br /> Accrued interest 4,719 <br /> Total current liabilities 713,028 <br /> Noncurrent liabilities <br /> Revenue bond, net of current portion 3,605,826 <br /> Total liabilities 4,318,854 <br /> NET ASSETS <br /> Invested in capital assets, net of related debt 3,988,582 <br /> Restricted for debt service 680,049 <br /> Unrestricted 1,956,053 <br /> Total net assets $ 6,624,684 <br /> The accompanying notes are an integral part of these financial statements. _ <br /> 7 <br />