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CITY OF HUGO, MINNESOTA
<br />PROPRIETARY FUND
<br />Statement of Net Position
<br />December 31, 2016
<br />ASSETS
<br />354,291
<br />Current Assets
<br />145,294
<br />Cash and cash equivalents
<br />$ 19,398,346
<br />Receivables
<br />25,335,762
<br />Accounts receivable
<br />554,680
<br />Accrued interest
<br />20,940
<br />Special assessments (net of allowance for uncollectibles)
<br />231,462
<br />Deposits
<br />1,500
<br />Total Current Assets
<br />20,206,928
<br />Noncurrent Assets
<br />354,291
<br />Property and Equipment
<br />145,294
<br />Nondepreciable
<br />307,805
<br />Depreciable
<br />25,335,762
<br />Total Property and Equipment
<br />25,643,567
<br />Less: Accumulated depreciation
<br />8,908,501
<br />Net Property and Equipment
<br />16,735,066
<br />Total Assets
<br />36,941,994
<br />DEFERRED OUTFLOWS OF RESOURCES
<br />354,291
<br />Deferred outflows from pension activity
<br />145,294
<br />LIABILITIES
<br />360,863
<br />Current Liabilities
<br />473,155
<br />Current portion of long-term debt (compensated absences)
<br />20,242
<br />Accounts payable
<br />75,145
<br />Due to other governmental units
<br />11,999
<br />Salaries payable
<br />3,906
<br />Unearned revenue
<br />1,000
<br />Total Current Liabilities
<br />112,292
<br />Long-term Liabilities
<br />Net pension liability
<br />354,291
<br />Compensated absences, net of current portion
<br />6,572
<br />Total Long -Term Liabilities
<br />360,863
<br />Total Liabilities
<br />473,155
<br />DEFERRED INFLOWS OF RESOURCES
<br />Deferred inflows from pension activity
<br />40,436
<br />NET POSITION
<br />Net investment in capital assets
<br />16,735,066
<br />Unrestricted
<br />19,838,631
<br />Total Net Position
<br />$ 36,573,697
<br />See Notes to Financial Statements
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