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<br />CITY OF LA PORTE, TEXAS
<br /> Statement of Net Assets
<br /> Proprietary Funds
<br /> September 30,2006
<br /> Business-type Activities -
<br /> Enterprise Funds
<br /> Other
<br /> La Porte Area Proprietary
<br /> Utility Water Authority Funds
<br />ASSETS
<br />Current assets:
<br />Cash and cash equivalents $ $ 833,596 $ 301,645
<br />Investments 3,803,599 407,428 244,742
<br />Receivables, net of
<br />allowance for un collectibles 934,103 169,605 53,244
<br />Accrued interest receivable 10,458 12,351 3,480
<br />Miscellaneous receivables
<br />Material and supplies inventories, at cost 4,540
<br />Restricted cash and cash equivalents for:
<br />Customer service deposits 459,426 45,861
<br />Current debt service 125,000
<br />Investments restricted for:
<br />Current debt service 825,010
<br />Total current assets 5,337,126 2,247,990 648,972
<br />Noncurrent assets:
<br />Capital assets:
<br />Land 266,009 2,084,469
<br />Buildings and improvements 51,730 1,115,110
<br />Improvements other than buildings 47,884,819 14,719,440 6,577,126
<br />Vehicles and equipment 319,777 6,130 103,276
<br />Construction in progress 2,519,056 119,905
<br />Less accumulated depreciation (26,794,649) (5,420,933) (4,854,129)
<br />Total noncurrent assets ,24,246,742 9,304,637 5,145,757
<br />Total assets 29,583,868 11 ;552,627 5,794,729
<br />LIABILITIES
<br />Current liabilities:
<br />Accounts payable 1 ,794,768 148,523 154,232
<br />Accrued salaries payable 36,712 15,388
<br />Unearned Revenue 87,150
<br />Other current liabilities 5,930
<br />Accrued interest payable 63,250 13,080
<br />Payable from restricted assets:
<br />Current portion of revenue bonds 125,000 460,000
<br />Customer deposits 459,526 68,129
<br />Total current liabilities 2,479,256 621,603 330,829
<br />Noncurrent liabilities:
<br />Revenue bonds, net of current portion 2,905,000 5,595,000
<br />Accrued separation pay 207,459 152,026
<br />Total noncurrent liabilities 3,112,459 5,595,000 152,026
<br />Total liabilities 5,591,715 6,216,603 482,855
<br />NET ASSETS
<br />Invested in capital assets, net of related debt 21,216,742 3,249,637 5,145,757
<br />Restricted for debt service 1,438,171 747,620
<br />Unrestricted (deficit) 1,337,241 1,338,767 166,113
<br />Total net assets $ 23,992,154 $ 5,336,024 $ 5,311,870
<br />See accompanying notes to basic financial statements.
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