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CITY OF RAMSEY <br />Statement of Fiduciary Net Assets <br />December 31, 2011 <br />Assets <br />Cash and temporary investments $ 579,025 <br />Receivables <br />Accounts 32,152 <br />Assets held for resale 12,734,868 <br />Total assets $ 13,346,045 <br />Liabilities <br />Accounts payable $ 3,506 <br />Deposits payable 607,671 <br />Loans Payable to Met Council 12,734,868 <br />Total liabilities $ 13,346,045 <br />See notes to basic financial statements <br />Agency Fund <br />