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CITY OF HUGO, MINNESOTA <br />PROPRIETARY FUND <br />Statement of Net Position <br />December 31, 2015 <br />ASSETS <br />Current Assets <br />Cash and cash equivalents <br />$ 18,148,180 <br />Receivables <br />225,519 <br />Accounts receivable <br />472,242 <br />Accrued interest <br />9,487 <br />Special assessments (net of allowance for uncollectibles) <br />237,404 <br />Due from other governmental units <br />388,388 <br />Deposits <br />1,500 <br />Total Current Assets <br />19,257,201 <br />Noncurrent Assets <br />16,679,906 <br />Property and Equipment <br />18,934, 340 <br />Nondepreciable <br />307,805 <br />Depreciable <br />24,674,024 <br />Total Property and Equipment <br />24,981,829 <br />Less: Accumulated depreciation <br />8,301,923 <br />Net Property and Equipment <br />16,679,906 <br />Total Assets <br />35,937,107 <br />DEFERRED OUTFLOWS OF RESOURCES <br />Deferred outflows from pension activity <br />31,474 <br />LIABILITIES <br />Current Liabilities <br />Current portion of long-term debt (compensated absences) <br />21,472 <br />Accounts payable <br />57,884 <br />Due to other governmental units <br />10,586 <br />Salaries payable <br />3,111 <br />Unearned revenue <br />1,000 <br />Total Current Liabilities <br />94,053 <br />Long-term Liabilities <br />Net pension liability <br />225,519 <br />Compensated absences, net of current portion <br />2,744 <br />Total Long -Term Liabilities <br />228,263 <br />Total Liabilities <br />322,316 <br />DEFERRED INFLOWS OF RESOURCES <br />Deferred inflows from pension activity <br />32,019 <br />NET POSITION <br />Net investment in capital assets <br />16,679,906 <br />Unrestricted <br />18,934, 340 <br />Total Net Position <br />$ 35,614,246 <br />See Notes to Financial Statements <br />27 <br />