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City of Muskegon
Internal Service Funds
COMBINING STATEMENT OF FUND NET ASSETS
December 31, 2003
Public
Engineering General Service Combined
Services Equipment Insurance Building Totals
ASSETS
Current assets
Cash and cash equivalents $ 86,869
$ 936,872
$ 902,877
$ 124,264
$ 2,050,882
Accounts receivable 3,469
3,517
120,247
- 127,233
Inventories - 10,404
- - 10,404
Prepaid items 1,191
25,129
- 1,511
27,831
Total current assets 91,529
975,922
1,023,124
125,775
2,216,350
Noncurrent assets
Land, construction in progress and other
assets not being depreciated - 43,410
- 65,000
108,410
Other capital assets, net of depreciation 1,767
1,846,243
- 913,653
2,761,663
Total noncurrent assets 1,767
1,889,653
- 978,653
2,870,073
TOTAL ASSETS $ 93,296
$ 2,865,575
$ 1,023,124
$ 1,104,428
$ 5,086,423
LIABILITIES AND NET ASSETS
Current liabilities
Accounts payable $ 7,265
$ 70,026
$ 218,475
$ 17,164
$ 312,930
Accrued payroll 7,132
10,672
671
5,146
23,621
Compensated absences payable 29,909
40,068
1,922
21,956
93,855
Total current liabilities 44,306
120,766
221,068
44,266
430,406
Net assets
Invested in capital assets 1,767
1,889,653
- 978,653
2,870,073
Unrestricted 47,223
855,156
802,056
81,509
1,785,944
Total net assets 48,990
2,744,809
802,056
1,060,162
4,656,017
TOTAL LIABILITIES AND NET ASSETS $ 93,296
$ 2,865,575
$ 1,023,124
$ 1,104,428
$ 5,086,423