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ERIE COUNTY
WATER AUTHORITY
Balance Sheet
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December 31,
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2001
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2000
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| Assets |
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| Water plant, net |
$256,408,116 |
$256,040,594 |
| Invested reserve funds |
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| Future
construction |
3,925,943 |
3,905,792 |
| Debt
service reserve fund |
5,696,514 |
5,759,357 |
| Net
increase in the fair market value of
investments |
3,683
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105,097
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266,034,256
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265,810,840
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| Current Assets: |
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| Cash
and cash equivalents |
19,199,952 |
15,047,157 |
Customers' accounts
recievable, less allowance
for
doubtful accounts of $273,046 and
$289,173,
respectively |
4,363,929 |
3,811,011 |
| Debt
service fund (at amortized cost) |
4,142,336 |
4,878,389 |
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Investments |
3,050,000 |
4,992,310 |
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Interest recievable and
other assets |
1,486,250 |
2,121,801 |
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Materials and
supplies |
1,859,323
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1,440,941
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Total
current assets |
34,101,790
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32,291,609
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| Unamortized bond discount and
expense |
1,585,304 |
1,777,742 |
| Long-term investment |
8,154,128
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8,673,074
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Total
assets |
$309,875,478
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$308,553,265
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| Capitalizations and
Liabilities |
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Earnings reinvested in
the business |
$168,492,470 |
$163,638,247 |
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Contributions in aid of
construction |
37,899,067
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36,859,748
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Total
capitalization |
206,391,537
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200,497,995
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| Water
revenue bonds - long term |
83,607,830
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87,333,747
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Total
capitalization and long term debt |
289,999,367
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287,831,742
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| Current Liabilities |
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| Account
payable |
4,473,066 |
4,341,286 |
| Water
revenue bonds - current |
3,725,917 |
3,910,472 |
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Interest and other
accrued liabilities |
4,221,299 |
3,806,941 |
| Accrued
retirement contributions |
1,980,492 |
2,074,072 |
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Construction
retention |
239,384
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308,349
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Total
current liabilities |
14,640,158
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14,441,120
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| Accrued sick pay |
1,527,878 |
1,431,705 |
| Long-term interest payable |
3,499,125 |
4,531,023 |
| Advances for construction |
208,950
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317,675
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Total
capitalization and liabilities |
$309,875,478
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$308,553,265
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The accompanying notes are an integral
part of these financial statements
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