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Total liabilities and net assets
<br />See notes to basic financial statements
<br />CITY OF RAMSEY
<br />Statement of Net Assets
<br />December 31, 2011
<br />Assets
<br />Cash and temporary investments $ 31,665,169 $ 16,134,860 $ 47,800,029
<br />Receivables
<br />Unremitted taxes 83,236 83,236
<br />Delinquent taxes 546,020 546,020
<br />Unremitted special assessments 6,443 - 6,443
<br />Delinquent special assessments 10,832 30,380 41,212
<br />Deferred special assessments 1,385,853 245,433 1,631,286
<br />Accounts 36,461 1,174,060 1,210,521
<br />Interest 226,712 - 226,712
<br />Internal balances (6,240,220) 6,240,220 -
<br />Due from other governmental units 831,069 831,069
<br />Prepaids 10,233 45,690 55,923
<br />Land held for resale 12,615,626 - 12,615,626
<br />Restricted assets - temporarily restricted
<br />Cash and investments for debt service 4,813,633 4,813,633
<br />Capital assets
<br />Land 6,772,024 868,513 7,640,537
<br />Construction in progress 4,153,721 123,781 4,277,502
<br />Buildings and structures 25,763,775 6,058,847 31,822,622
<br />Improvements other than buildings 7,346,628 11,445,595 18,792,223
<br />Office equipment 691,719 - 691,719
<br />Motor vehicles 3,766,466 - 3,766,466
<br />Machinery and equipment 4,694,542 540,275 5,234,817
<br />Infrastructure 25,412,900 - 25,412,900
<br />Water and sewer lines 45,346,485 45,346,485
<br />Less accumulated depreciation (14,707,454) (12,635,404) (27,342,858)
<br />Total capital assets, net of depreciation 63,894,321 51,748,092 115,642,413
<br />Total assets $ 109,885,388 $ 75,618,735 $ 185,504,123
<br />Liabilities
<br />Accounts and contracts payable $ 1,457,385 $ 61,547 $ 1,518,932
<br />Salaries and benefits payable 244,363 - 244,363
<br />Accrued interest payable 128,187 - 128,187
<br />Due to other governmental units 34,707 44,316 79,023
<br />Unearned revenue - 720 720
<br />Long -term liabilities
<br />Due within one year 2,104,280 2,104,280
<br />Due in more than one year 29,584,359 29,584,359
<br />Total long -term liabilities 31,688,639 31,688,639
<br />Total liabilities 33,553,281 106,583 33,659,864
<br />Net assets
<br />Invested in capital assets, net of related debt 39,794,321 51,748,092 91,542,413
<br />Restricted for
<br />Debt Service 2,567,970 2,567,970
<br />Housing redevelopment 8,348,271 8,348,271
<br />EDA 1,305,533 1,305,533
<br />Tax Increment 9,049,184 9,049,184
<br />Capital Improvements - State Aid Construction 363,672 363,672
<br />Landfill Tipping Fee 250,671 250,671
<br />Lawful Gambling 138,114 138,114
<br />Peace Officers 80,533 80,533
<br />Unrestricted 14,433,838 23,764,060 38,197,898
<br />Total net assets 76,332,107 75,512,152 151,844,259
<br />37
<br />Governmental Business -Type
<br />Activities Activities
<br />Total
<br />$ 109,885,388 $ 75,618,735 $ 185,504,123
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