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City of Muskegon
Fiduciary Funds
STATEMENT OF FIDUCIARY NET ASSETS
December 31, 2003
Pension Trust Combining
Funds Agency Funds Totals
ASSETS
Cash and cash equivalents (note A and B) 1,105,067
$ 4,051,145
$ 5,156,212
$
Investments (note A and B) 81,694,610
-
81,694,610
Receivables (note A)
Accounts -
4,221
4,221
Property taxes -
19,401,411
19,401,411
TOTAL ASSETS $ 82,799,677
23,456,777
$ 106,256,454
$
LIABILITIES AND NET ASSETS
Liabilities
Accounts payable -
$ 2,170
$ 2,170
$
Due to other funds (note E) -
1,040,569
1,040,569
Due to other governmental units -
21,837,484
21,837,484
Other liabilities -
576,554
576,554
Total liabilities -
23,456,777
23,456,777
Net assets (note A)
Held in trust for pension benefits 73,510,622
-
73,510,622
Held in trust for healthcare benefits 9,289,055
-
9,289,055
Total net assets 82,799,677
-
82,799,677
TOTAL LIABILITIES AND NET ASSETS $ 82,799,677
23,456,777
$ 106,256,454
$
The accompanying notes are an integral part of this statement.