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CITY OF RAMSEY
<br />Statement of Net Assets
<br />December 31, 2008
<br />Governmental Business -Type
<br />Activities Activities Total
<br />Assets
<br />Cash and temporary investments $ 33,524,281 $ 20,947,116 $ 54,471,397
<br />Receivables
<br />Unremitted taxes 133,456 - 133,456
<br />Delinquent taxes 809,348 - 809,348
<br />Unremitted special assessments 1,707 - 1,707
<br />Delinquent special assessments 7,302,553 - 7,302,553
<br />Deferred special assessments 1,525,569 208,888 1,734,457
<br />Accounts 89,882 1,156,141 1,246,023
<br />Interest 504,645 - 504,645
<br />Internal balances (719,775) 719,775 -
<br />Due from other governmental units 649,955 5,508 655,463
<br />Inventory - 10,903 10,903
<br />Prepaids 5,351 43,207 48,558
<br />Restricted assets - temporarily restricted
<br />Cash and investments for debt service 1,680,091 - 1,680,091
<br />Capital assets
<br />Land 5,552,293 100,000 5,652,293
<br />Construction in progress 1,260,543 9,209,532 10,470,075
<br />Buildings and structures 25,621,905 2,509,688 28,131,593
<br />Improvements other than buildings 3,493,451 9,583,088 13,076,539
<br />Office equipment 709,044 - 709,044
<br />Motor vehicles 3,880,100 - 3,880,100
<br />Machinery and equipment 4,945,480 544,323 5,489,803
<br />Infrastructure 19,239,052 - 19,239,052
<br />Water and sewer lines - 36,349,532 36,349,532
<br />Less accumulated depreciation (8,651,392) (8,940,931) (17,592,323)
<br />Total capital assets, net of depreciation 56,050,476 49,355,232 105,405,708
<br />Total assets $ 101,557,539 $ 72,446,770 $ 174,004,309
<br />Liabilities
<br />Accounts and contracts payable $ 566,419 $ 527,236 $ 1,093,655
<br />Salaries and benefits payable 245,746 - 245,746
<br />Accrued interest payable 101,343 - 101,343
<br />Due to other governmental units 71,032 26,866 97,898
<br />Unearned revenue - 12,240 12,240
<br />Long -term liabilities
<br />Due within one year 3,400,650 - 3,400,650
<br />Due in more than one year 26,593,812 - 26,593,812
<br />Total long -term liabilities 29,994,462 - 29,994,462
<br />Total liabilities 30,979,002 566,342 31,545,344
<br />Net assets
<br />Invested in capital assets, net of related debt 31,255,476 49,355,232 80,610,708
<br />Restricted for
<br />Debt service 2,360,248 - 2,360,248
<br />Tax increment 4,972,657 - 4,972,657
<br />Capital improvements 9,131,781 - 9,131,781
<br />Storm water management 967,741 - 967,741
<br />Grants and contributions 3,487,070 - 3,487,070
<br />Unrestricted 18,403,564 22,525,196 40,928,760
<br />Total net assets 70,578,537 71,880,428 142,458,965
<br />Total liabilities and net assets $ 101,557,539 $ 72,446,770 $ 174,004,309
<br />See notes to basic financial statements
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