|
CITY OF LINO LAKES, MINNESOTA 1
<br />Statement 12
<br />ENTERPRISE FUNDS
<br />WATER AND SEWER FUND
<br />BALANCE SHEET
<br />December 31, 1988
<br />December 31,
<br />IAssets 1988 1987
<br />Current assets:
<br />Accounts receivable $37,746 $23,227 I
<br />Due from other governmental units 12,827 14,345
<br />Prepaid expenses 5,760 4,902
<br />Inventory 2,737 3,245
<br />I
<br />Total current assets 59,070 45,719
<br />Fixed assets:
<br />Well 18,500 18,500
<br />Buildings 48,690 48,690
<br />I
<br />Equipment 17,421 17,421
<br />Water and sewer system 3,197,305 973,802
<br />Total Fixed assets 3,281,916 1,058,413 •
<br />Less: Allowance for depreciation (259,560) (236,217)
<br />Net Fixed assets 3,022,356 822,196
<br />Total assets $3,081,426 $867,915
<br />Liabilities and Fund Equity
<br />Liabilities: I
<br />Cash overdraft $6,726 $27,142
<br />Accounts payable 3,251 6,345 il
<br />Salaries payable 87 370 III
<br />Due to other governmental units 4,106 1,171
<br />Total liabilities 14,170 35,028 •
<br />Fund equity:
<br />Contributions - net 3,019,402 818,429
<br />Retained earnings 47,854 14,458
<br />I
<br />Total fund equity 3,067,256 832,887
<br />Total liabilities and fund equity $3,081,426 $867,915 I
<br />1
<br />1
<br />1
<br />1
<br />The accompanying notes are an integral part of these financial statements.
<br />1
<br />
|