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CITY OF LA PORTE, TEXAS
<br /> Statement of Net Assets
<br /> Proprietary Funds
<br /> September 30, 2010
<br /> Business -type Activities -
<br /> Enterprise Funds
<br /> La Porte Area Other
<br /> Utility Water Authority Funds
<br /> ASSETS
<br /> Current assets:
<br /> Cash and cash equivalents $ 678,751 $ 576,720 $ 256,696
<br /> Investments 896,641 1,244,270 84,921
<br /> Receivables, net of
<br /> allowance for uncollectibles 888,913 167,816 5,122
<br /> Accrued interest receivable 228 265 37
<br /> Miscellaneous receivables - - -
<br /> Material and supplies inventories, at cost 4,800 - -
<br /> Prepaid expenses - 71,059 -
<br /> Restricted cash and cash equivalents for:
<br /> Customer service deposits 503,260 - -
<br /> Cash and cash equivalents restricted for:
<br /> Current debt service - 684,768 -
<br /> Total current assets 2,972,593 2,744,898 346,776
<br /> Noncurrent assets:
<br /> Capital assets:
<br /> Land 224,308 - 2,084,469
<br /> Buildings and improvements 57,620 - 731,524
<br /> Improvements other than buildings 59,961,741 15,306,000 8,604,492
<br /> Vehicles and equipment 544,143 6,130 43,630
<br /> Construction in progress 4,931,320 123,680 -
<br /> Less accumulated depreciation (33,378,654) (7,237,170) (5,623,166)
<br /> Total noncurrent assets 32,340,478 8,198,640 5,840,949
<br /> Total assets 35,313,071 10,943,538 6,187,725
<br /> LIABILITIES
<br /> Current liabilities:
<br /> Accounts payable 292,296 104,077 23,377
<br /> Accrued salaries payable 82,472 - 27,135
<br /> Due to other funds - - 390,808
<br /> Other current liabilities - - 9,373
<br /> Interest payable 14,057 4,719 -
<br /> Accrued separation pay 30,000 - -
<br /> Payable from restricted assets:
<br /> Current portion of revenue bonds 262,500 585,000 -
<br /> Customer deposits 503,260 - -
<br /> Total current liabilities 1,184,585 693,796 450,693
<br /> Noncurrent liabilities:
<br /> Revenue bonds, net of current portion 1,312,500 3,625,058 -
<br /> Net pension obligation 156,029 - 47,920
<br /> Net OPEB obligation 441,077 - 102,776
<br /> Accrued separation pay 220,708 - 126,872
<br /> Total noncurrent liabilities 2,130,314 3,625,058 277,568
<br /> Total liabilities 3,314,899 4,318,854 728,261
<br /> NET ASSETS
<br /> Invested in capital assets, net of related debt 30,765,478 3,988,582 5,840,949
<br /> Restricted for debt service 779,785 680,049 -
<br /> Unrestricted (deficit) 452,909 1,956,053 (381,485)
<br /> Total net assets $ 31,998,172 $ 6,624,684 $ 5,459,464
<br /> See accompanying notes to basic financial statements.
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