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VADNAIS LAKE AREA WATER MANAGEMENT ORGANIZATION <br />VADNAIS HEIGHTS, NIINNESOTA <br />NOTES TO THE FINANCIAL STATEMENTS <br />DECEMBER 31, 2007 <br />Note 3: DETAILED NOTES ON ACCOUNTS - CONTINUED <br />B. Due from Other Governments <br />The amount due from other governments is summarized as follows: <br />Fund Local State Total <br />Governmental Activities <br />Member assessments $ 4,713 $ $ 4,713 <br />Grant 100,000 100,000 <br />Total Governmental Activities $ 4,713 $ 100,000 $ 104,713 1 <br />C. Capital Assets <br />Capital asset activity for the year ended December 31, 2007 was as follows: 7 <br />Beginning Ending <br />Balance Increases Decreases Balance 7 <br />Governmental activities <br />Capital assets, being depreciated <br />Infrastructure $ $ 165,587 $ $ 165,587 1 <br />Less accumulated depreciation for <br />Infrastructure1-1 <br />Total governmental activities $ $ 165,587 $ $ 165,587 <br />There was no depreciation in 2007 due to the asset being put into service at the end of December. 1 <br />D. Deferred Revenue/Unearned Revenue <br />Governmental funds report deferred revenue in connection with receivables for revenues that are not considered <br />to be available to liquidate liabilities of the current period. Also, governmental funds defer revenue recognition in <br />connection with resources that have been received, but not yet earned. At the end of the current fiscal year, the <br />various components of deferred revenue/unearned revenue reported were as follows: <br />Unavailable Unearned <br />Special assessments - delinquent $ $ 82,503 <br />Storm water utility charges 331,471 <br />Total $ $ 413,974 1 <br />1 <br />1 <br />1 <br />-15- <br />