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<br /> CITY OF LA PORTE, TEXAS
<br /> Statement of Net Assets
<br /> September 30, 2007
<br /> Primary Governm
<br /> Governmental Business-type
<br /> Activities Activities Total
<br />ASSETS
<br />Cash and cash equivalents $ 24,872,891 $ 3,122,546 $ 27,995,437
<br />Investments 26,415,327 1,591,913 28,007,240
<br />Receivables, net of
<br />allowance for un collectibles
<br />Accounts receivable 1,936,031 931,647 2,867,678
<br />Taxes receivable 2,153,738 2,153,738
<br />Due from other governments 1,023,599 1,023,599
<br />Accrued interest receivable 199,874 32,893 232,767
<br />Other 8,978.00 8,978
<br />Materials and supplies inventories at cost 124,839 4,540 129,379
<br />Prepaid expenses 149,580 149,580.00
<br />Deferred issuance costs 560,357 560,357
<br />Restricted Assets:
<br />Cash and cash equivalents restricted for:
<br />Customer service deposits 514,700 514,700
<br />Debt service 125,000 125,000
<br />Investments restricted for debt service 758,531 758,531
<br />Capital assets:
<br />Land 7,925,969 2,308,777 10,234,746
<br />Buildings and improvements 18,187,994 1,166,840 19,354,834
<br />Improvements other than buildings 7,649,693 69,928,070 77,577,763
<br />Infrastructure 26,957,309 26,957,309
<br />Machinery and equipment 13,672,416 525,652 14,198,068
<br />Construction in progress 18,558,412 3,141,809 21,700,221
<br />Accumulated depreciation (40,224,375) (39,382,280) (79,606,655)
<br />Total assets 110,023,052 44,920,218 154,943,270
<br />LIABILITIES
<br />Accounts payable 4,530,006 676,392 5,206,398
<br />Accrued salaries payable 409,091 59,977 469,068
<br />Due to other governments 64,445 64.445
<br />Unearned revenue 364 48,783 49,147
<br />Other current liabilities 7,608 7,608
<br />Interest payable 78,065 32,310 110,375
<br />Customer deposits 526,212 526,212
<br />Noncurrent liabilities :
<br />Due within one year 1,804,000 872,500 2,676,500
<br />Due in more than one year 42,305,498 7,734,842 50,040,340
<br />Total liabilities 49,191,469 9,958,624 59,150,093
<br />NET ASSETS
<br />Invested in capital assets, net of related debt 27,529,009 29.481,368 57,010,377
<br />Restricted for:
<br />Debt service 1,962,005 2,184,725 4,146,730
<br />Economic development 5,004,327 5,004,327.00
<br />Capital improvements 4,749,039 4,749,039.00
<br />Grants and state programs 1,601,220 1,601,220
<br />Unrestricted 19,985,983 3,295,501 23,281,484
<br />Total net assets $ 60,831,583 $ 34,961,594 $ 95,793,177
<br />See accompanying notes to financial statements.
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