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<br />CITY OF RAMSEY
<br />
<br />Statement of Net Assets
<br />Proprietary Funds
<br />December 31, 2007
<br />
<br /> Business- Type Activities - Enterprise Funds
<br /> Water Utility Sewer Utility Street Light
<br />Assets
<br />CUITent assets
<br />Cash and temporary investments $ 12,208,615 $ 6,229,140 $ 1,010,955
<br />Receivables
<br />Defen"ed special assessments 9,614 4,319
<br />Accounts and interest 324,241 360,615 46,825
<br />Due from other governmental units
<br />Inventory 3,637
<br />Prepaids 37,782
<br />Total current assets 12,546,107 6,631,856 1,057,780
<br />Capital assets
<br />Land 100,000
<br />Construction in progress 4,898,761 3,823,184
<br />Buildings and structures 2,509,688
<br />Improvements other than buildings 596,875
<br />Machinery and equipment 151,874 30,769
<br />Water and sewer lines 18,125,896 17,371,050
<br /> 25,786,219 21,225,003 596,875
<br />Less accumulated depreciation 3,731,515 3,228,715 194,555
<br />Net capital assets 22,054,704 17,996,288 402,320
<br />Total assets $ 34,600,811 $ 24,628,144 $ 1,460,100
<br />Liabilities and Net Assets
<br />Current liabilities
<br />Accounts and contracts payable $ 84,824 $ 799 $ 6,442
<br />Due to other governmental units 21,044 19,918
<br />Unearned revenue 33,390
<br />Total current liabilities 105,868 20,717 39,832
<br />Net assets
<br />Invested in capital assets 22,054,704 17,996,288 402,320
<br />Unrestricted 12,440,239 6,611,139 1,017,948
<br />Total net assets 34,494,943 24,607,427 1,420,268
<br />Total liabilities and net assets $ 34,600,811 $ 24,628,144 $ 1,460,100
<br />See notes to basic financial statements
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