WESTERN COVENTRY FIRE DISTRICT
STATEMENT OF NET ASSETS
AND GOVERNMENTAL FUNDS BALANCE SHEET
May 31, 2010
| General Fund | Other Funds | Total | Adjustments (Note A) | Statement of Net Assets | |
| ASSETS | |||||
| Centreville Bank Accounts |
297,474 |
297,474 | 297,474 | ||
| Money Market Account | 8,057 | 8,057 | 8,057 | ||
| Taxes receivable (net of allowance for uncollectable taxes of $7,000) | 100,944 | 100,944 | 100,944 | ||
| Other Receivable | 428 | 428 | 428 | ||
| Prepaid expenses | 8,949 | 8,949 | 8,949 | ||
| Internal receivable | 191,146 | 191,146 | (191,146) | ||
| Land | 134,400 | 134,400 | |||
| Other capital assets, net of accumulated depreciation | 2,747,309 | 2,747,309 | |||
| TOTAL ASSETS | $415,853 | $191,146 | $606,999 | $2,690,563 | $3,297,561 |
| General Fund | Other Funds | Total | Adjustments (Note A) | Statement of Net Assets | |
| LIABILITIES | |||||
| Accounts payable |
5,873 |
5,873 | 5,873 | ||
| Wages & benefits payable | 12,977 | 12,977 | 12,977 | ||
| Internal payable | 191,146 | 191,146 | (191,146) | ||
| Firemen Fund | 894 | 894 | 894 | ||
| Long-Term Liabilities | |||||
| Due within one year | 14,616 | 14,616 | |||
| Due after one year | 1,496,545 | 1,493,545 | |||
| TOTAL LIABILITIES | $209,997 | $894 | $210,890 | $1,317,015 | $1,527,905 |
| General Fund | Other Funds | Total | Adjustments (Note A) | Statement of Net Assets | |
| FUND BALANCES: | |||||
| Unreserved |
205,856 |
205,856 | (205,856) | - | |
| Capital reserve | 5,000 | 5,000 | (5,000) | - | |
| Rescue recovery | 185,252 | 185,252 | (185,252) | - | |
| TOTAL FUND BALANCE | 205,856 | 190,252 | 396,109 | (396,109) | - |
| TOTAL LIABILITIES & FUND BALANCES | $415,853 | $191,146 | $606,999 | ||
| Net Assets: | |||||
| Investment in capital assets net of related dept | 1,373,548 | 1,373,548 | |||
| Unrestricted | 396,109 | 396,109 | |||
| Total Net assets | $1,769,657 | $1,769,657 |
NOTE A - Capital assets used in governmental activities are not financial resources and therefore are not reported in the funds.