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VADNAIS LAKE AREA WATER MANAGEMENT ORGANIZATION <br />VADNAIS HEIGHTS, MINNESOTA <br />BALANCE SHEETS <br />GOVERNMENTAL FUNDS <br />DECEMBER 31, 2009 AND 2008 <br />2009 2008 <br />ASSETS <br />Cash and temporary investments $ 336,474 $ 241,868 <br />Restricted cash 21,943 21,910 <br />Receivables <br />Accounts 750 <br />Special assessments 435,806 387,773 <br />Due from other governments 3,281 <br />TOTAL ASSETS $ 794,973 $ 654,832 <br />LIABILITIES AND FUND BALANCES <br />LIABILITIES <br />Accounts payable $ 57,201 $ 11,322 <br />Escrow deposits payable 21,943 21,910 <br />Due to other governments 28,395 24,419 <br />Deferred revenue 433,015 386,914 <br />TOTAL LIABILITIES <br />540,554 444,565 <br />FUND BALANCES <br />Unreserved <br />Designated for working capital 254,419 210,267 <br />TOTAL LIABILITIES AND FUND BALANCES $ 794,973 $ 654,832 <br />The notes to financial statements are integral part of this statement. <br />-26- <br />