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CITY OF LA PORTE, TEXAS
<br /> Statement of Net Assets
<br /> September 30, 2010
<br /> Primary Government
<br /> Governmental Business -type
<br /> Activities Activities Total
<br /> ASSETS
<br /> Cash and cash equivalents $ 31,968,841 $ 1,512,167 $ 33,481,008
<br /> Investments 18,532,123 2,225,832 20,757,955
<br /> Receivables, net of
<br /> allowance for uncollectibles
<br /> Accounts receivable 1,823,908 1,061,851 2,885,759
<br /> Taxes receivable 1,976,189 - 1,976,189
<br /> Due from other governments 672,208 - 672,208
<br /> Accrued interest receivable 4,622 530 5,152
<br /> Other 183,132 - 183,132
<br /> Intemal balances 390,808 (390,808) -
<br /> Materials and supplies inventories at cost 169,788 4,800 174,588
<br /> Prepaid expenses - 71,059 71,059
<br /> Deferred issuance costs 662,596 - 662,596
<br /> Restricted assets:
<br /> Cash and cash equivalents restricted for:
<br /> Customer service deposits - 503,260 503,260
<br /> Debt service - 684,768 684,768
<br /> Capital assets:
<br /> Land 9,699,810 2,308,777 12,008,587
<br /> Buildings and improvements 34,829,904 789,144 35,619,048
<br /> Improvements other than buildings 17,390,197 83,872,233 101,262,430
<br /> Infrastructure 34,747,260 - 34,747,260
<br /> Machinery and equipment 15,205,703 593,903 15,799,606
<br /> Construction in progress 4,694,818 5,055,000 9,749,818
<br /> Accumulated depreciation (49,082,752) (46,238,990) (95,321,742)
<br /> Total assets 123,869,155 52,053,526 175,922,681
<br /> LIABILITIES
<br /> Accounts payable 5,213,072 419,750 5,632,822
<br /> Accrued salaries payable 685,858 109,607 795,465
<br /> Uneamed revenue 112,344 - 112,344
<br /> Other current liabilities 3,002 9,373 12,375
<br /> Interest payable 77,700 18,776 96,476
<br /> Customer deposits - 503,260 503,260
<br /> Noncurrent liabilities:
<br /> Due within one year 2,308,797 877,500 3,186,297
<br /> Due in more than one year 48,260,990 6,032,940 54,293,930
<br /> Total liabilities 56,661,763 7,971,206 64,632,969
<br /> NET ASSETS
<br /> Invested in capital assets, net of related debt 35,194,777 40,595,009 75,789,786
<br /> Restricted for:
<br /> Debt service 3,662,680 1,459,834 5,122,514
<br /> Economic development 1,894,012 - 1,894,012
<br /> Capital improvements 10,945,455 - 10,945,455
<br /> Grants and state programs 1,606,023 - 1,606,023
<br /> Unrestricted 13,904,445 2,027,477 15,931,922
<br /> Total net assets $ 67,207,392 $ 44,082,320 $ 111,289,712
<br /> See accompanying notes to financial statements.
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