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Assets
<br />Current assets
<br />Cash and temporary investments $ 5,982,411 $ 4,571,548
<br />Receivables
<br />Deferred special assessments 42,534 42,568
<br />Accounts 186,616 110,788
<br />Inventory 3,611 9,174
<br />Total current assets 6,215,172 4,734,078
<br />Property, plant, and equipment
<br />Land 100,000 100,000
<br />Buildings and structures 2,554,881 2,554,881
<br />Machinery and equipment 95,724 95,724
<br />Water lines 12,203,678 11,078,194
<br />14,954,283 13,828,799
<br />Less accumulated depreciation 2,213,441 1,909,918
<br />Net property, plant, and equipment 12,740,842 11,918,881
<br />Total assets $ 18,956,014 $ 16,652,959
<br />Liabilities and Fund Equity
<br />CITY OF RAMSEY
<br />Water Utility Fund
<br />Comparative Balance Sheet
<br />As of December 31, 2003 and 2002
<br />2003 2002
<br />Exhibit F -4
<br />Current liabilities
<br />Accounts payable $ 9,293 $ 44,725
<br />Due to other governmental units 7,872 5,821
<br />Total current liabilities 17,165 50,546
<br />Fund equity
<br />Contributed capital 10,794,932 10,736,781
<br />Contributed capital reserved for future construction 2,614,691 2,614,691
<br />Retained earnings
<br />Unreserved 5,529,226 3,250,941
<br />Total fund equity 18,938,849 16,602,413
<br />Total liabilities and fund equity $ 18,956,014 $ 16,652,959
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