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CITY OF SAN MARCOS, TEXAS
<br />STATEMENT OF NET ASSETS
<br />SEPTEMBER 30, 2007
<br />The accompanying notes are an integral part of these financial statements.
<br />13
<br />Governmental
<br />Business -type
<br />Activities
<br />Activities
<br />Total
<br />ASSETS
<br />Cash and equivalents
<br />$ 20,062,137
<br />$ 49,758,853
<br />$ 69,820,990
<br />Investments
<br />42,268,653
<br />30,413,153
<br />720106
<br />Receivables (net of allowance for uncollectible):
<br />Accounts
<br />496,750
<br />9,950,860
<br />10,447,610
<br />Taxes
<br />2,834,429
<br />-
<br />2,834,429
<br />Other
<br />17803
<br />4,312
<br />182,915
<br />Due from other governments
<br />4,378,719
<br />-
<br />4,378,719
<br />Internal balances
<br />2,826,294
<br />( 2,826,294)
<br />-
<br />Inventories
<br />100,198
<br />1,185,542
<br />1,285,740
<br />Prepaid items
<br />33,915
<br />2003
<br />5408
<br />Deferred charges
<br />787,175
<br />2,295,267
<br />302,442
<br />Capital assets:
<br />Land
<br />4,865,153
<br />1,295,061
<br />6,160,214
<br />Construction in progress
<br />30,618,148
<br />61,401,358
<br />92,019,506
<br />Buildings
<br />16,373,421
<br />6,369,767
<br />22,743,188
<br />Improvements other than buildings
<br />38,39803
<br />104,938,464
<br />143,337,267
<br />Equipment
<br />19,968,387
<br />6,475,366
<br />26,443,753
<br />Infrastructure
<br />12,522,536
<br />-
<br />12,522,536
<br />Less: accumulated depreciation
<br />( 33,702,098)
<br />( 49,024,680)
<br />( 82,726,778)
<br />Total capital assets
<br />89,044,350
<br />131,455,336
<br />220,49906
<br />Total assets
<br />163,011,223
<br />222,257,722
<br />385,268,945
<br />LIABILITIES
<br />Accounts payable
<br />6,37908
<br />6,035,153
<br />12,415,041
<br />Unearned revenues
<br />541,443
<br />609
<br />547,532
<br />Customer deposits
<br />-
<br />2,076,247
<br />2,076,247
<br />Accrued interest payable
<br />1,091,697
<br />829,997
<br />1,921,694
<br />Noncurrent liabilities:
<br />Due within one year
<br />5,358,230
<br />4,76000
<br />10,118,230
<br />Due in more than one year
<br />69,541,325
<br />99,464,767
<br />16906,092
<br />Total liabilities
<br />82,912,583
<br />113,172,253
<br />19604,836
<br />NET ASSETS
<br />Invested in capital assets, net of related debt
<br />34,026,741
<br />37,167,271
<br />71,194,012
<br />Restricted for:
<br />Economic development
<br />517,644
<br />-
<br />517,644
<br />Grant requirements
<br />262,971
<br />-
<br />262,971
<br />Public safety
<br />73,971
<br />-
<br />73,971
<br />Court security and technology
<br />204,777
<br />-
<br />204,777
<br />Debt service
<br />4,816,308
<br />-
<br />4,816,308
<br />Future convention center
<br />3 80,276
<br />-
<br />3 80,276
<br />Park and cemetery trust:
<br />Nonexpendable
<br />92306
<br />-
<br />92306
<br />Unrestricted
<br />38,892,946
<br />71,918,198
<br />110,811,144
<br />Total net assets
<br />$ 80,09040
<br />$ 10905,469
<br />$ 189,184,109
<br />The accompanying notes are an integral part of these financial statements.
<br />13
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