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LA TORTE AREA WATER AUTHORITY EXHIBIT B-1 <br />STATEMENT OF NET ASSETS <br />September 30, 2012 <br />Assets <br />Current assets: <br />Cash $ 937,091 <br />Investments 1,212,769 <br />Accounts receivable, net of allowance for doubtful accounts 184,111 <br />Accrued interest receivable 993 <br />Deferred charges 49,057 <br />Restricted assets: <br />Restricted cash and temporary investments 695,199 <br />Total current assets 3.079,220 <br />Noncurrent assets: <br />Water production and distribution system 15,435,810 <br />Less: accumulated depreciation (8,160,985) <br />Total noncurrent assets 7,274,825 <br />Total Assets 10,354,045 <br />Liabilities <br />Current liabilities: <br />Accounts payable <br />213,097 <br />Current liabilities (payable from restricted assets): <br />Current portion of revenue bonds <br />625,000 <br />Accrued interest <br />3,358 <br />Total current liabilities <br />941.455 <br />Noncurrent liabilities <br />Revenue bond, net of current portion 2,356,341 <br />Total Liabilities 3_197.796 <br />Net Assets <br />Invested in capital assets, net of related debt 4,293,484 <br />Restricted for debt service 289,500 <br />Unrestricted 2,573,265 <br />Total net assets $ 7,156,249 <br />See Notes to the Financial Statements. <br />10 <br />