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<br />CITY OF RAMSEY
<br />Statement of Net Assets
<br />Proprietary Funds
<br />December 31, 2008
<br />Business -Type Activities — Enterprise Funds 1
<br />Water Utility Sewer Utility Street Light
<br />Assets
<br />Current assets
<br />I
<br />Cash and temporary investments $ 12,277,487 $ 6,892,814 $ 1,105,934
<br />Receivables
<br />Deferred special assessments 106,661 102,227 — I
<br />Accounts and interest 422,924 398,729 55,986
<br />Due from other funds 719,775 — —
<br />Due from other governmental units 2,211 — — I
<br />Inventory 10,903 — —
<br />Prepaids — 43,207 —
<br />Total current assets 13,539,961 7,436,977 1,161,920 '
<br />Capital assets
<br />Land 100,000 — —
<br />Construction in progress 4,744,822 3,858,156 —
<br />I
<br />Buildings and structures 2,509,688 — —
<br />Improvements other than buildings — — 596,875
<br />Machinery and equipment 142,279 374,124 — 1
<br />Water and sewer lines 18,978,482 17,371,050 —
<br />26,475,271 21,603,330 596,875
<br />Less accumulated depreciation 4,161,365 3,591,270 222,133
<br />I
<br />Net capital assets 22,313,906 18,012,060 374,742
<br />Total assets $ 35,853,867 $ 25,449,037 $ 1,536,662
<br />Liabilities and Net Assets
<br />Current liabilities 1
<br />Accounts and contracts payable $ 199,379 $ 307,355 $ 2,652
<br />Due to other governmental units 19,457 7,373 —
<br />Unearned revenue — — 12,240
<br />Total current liabilities 218,836 314,728 14,892
<br />Net assets
<br />Invested in capital assets 22,313,906 18,012,060 374,742
<br />Unrestricted 13,321,125 7,122,249 1,147,028
<br />Total net assets 35,635,031 25,134,309 1,521,770 1
<br />Total liabilities and net assets $ 35,853,867 $ 25,449,037 $ 1,536,662
<br />See notes to basic financial statements 1
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