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City of Muskegon
Governmental Funds
BALANCE SHEET
December 31, 2003
Other Total
Major Street Governmental Governmental
General and Trunkline Local Street Funds Funds
ASSETS
Cash and cash equivalents (note A and B) $ - $ 322,624
$ - $ 5,307,819
$ 5,630,443
Investments (note A and B) 5,531,111
- - 1,293,542
6,824,653
Receivables (net of allowance for
uncollectibles) (note A)
Accounts and loans 941,906
21,725
- 682,641
1,646,272
Special assessment - 1,394,474
1,767,983
1,305,303
4,467,760
Taxes
Property 5,998,534
- - 57,959
6,056,493
Income 1,558,649
- - - 1,558,649
Due from other funds (note E) 1,036,348
8,081,356
- 177,313
9,295,017
Due from component units (note E) 177,304
- - - 177,304
Due from other governmental units 840,418
424,214
512,205
1,232,275
3,009,112
Prepaid items (note A) 100,642
16,085
4,262
2,235
123,224
TOTAL ASSETS $ 16,184,912
$ 10,260,478 $ 2,284,450 $ 10,059,087
$ 38,788,927
LIABILITIES AND FUND BALANCES
Liabilities
Accounts payable $ 254,003
$ 342,398
$ 57,820
$ 92,805
$ 747,026
Accrued payroll 297,228
14,674
11,085
6,178
329,165
Due to other funds (note E) 6,239,088
- 493,226
1,450,122
8,182,436
Deferred revenue (note A) 6,963,175
8,490,298
1,576,678
1,587,000
18,617,151
Total liabilities 13,753,494
8,847,370
2,138,809
3,136,105
27,875,778
Fund balances (note A)
Reserved for
Prepaid items 100,642
16,085
4,262
2,235
123,224
Endowments 10,000
- - 1,136,782
1,146,782
Unreserved
Designated, reported in (note K)
Capital project funds - - - 322,568
322,568
Undesignated, reported in
General fund 2,320,776
- - - 2,320,776
Special revenue funds - 1,397,023
141,379
1,716,344
3,254,746
Debt service funds - - - 153,955
153,955
Capital projects funds - - - 3,527,300
3,527,300
Permanent fund - - - 63,798
63,798
Total fund balances 2,431,418
1,413,108
145,641
6,922,982
10,913,149
TOTAL LIABILITIES AND FUND BALANCES $ 16,184,912
$ 10,260,478 $ 2,284,450 $ 10,059,087
$ 38,788,927
The accompanying notes are an integral part of this statement.