Laserfiche WebLink
PARIS -LAMAR COUNTY HEALTH DISTRICT <br />Notes to the Financial Statements (Continued) <br />September ;o, 2016 <br />Organizaticn and Summary of Significant Acc_ounting_Policies_(Continued) <br />D. Assets, Liabilities and Net Position <br />4. Capital Assets <br />Property and equipment of the District are recorded at historical cost and depreciation is <br />calculated using the straight -line method over the following estimated useful lives: <br />Assets Years <br />Leasehold Improvements 39 <br />Fixtures and Equipment 3 -10 <br />II. Detailed Notes on All Activitie_$ <br />A. Cash and Cash Equivalents <br />Custodial credit risk for deposits is the risk that in the event of a bank failure, the District's <br />deposits may not be returned or the District will not be able to recover collateral securities in <br />the possession of an outside party. The District's policy requires deposits to be secured by <br />collateral valued at market or par, whichever is lower, less the amount of the Federal Deposit <br />Insurance Corporation insurance (FDIC). Deposited funds may be invested in certificates of <br />deposit in institutions that are domiciled in the State of Texas. Collateral agreements must be <br />approved prior to deposit of funds as provided by law. The District approves and designates <br />a list of authorized depository institutions based on evaluation of solicited responses and <br />certifications provided by financial institutions and recommendations of the District. <br />The District maintains accounts in one financial institution. At September 30, 2016, the carrying <br />amount of demand deposits was $475,418 and the bank balance was $514,598, which was <br />covered by federal depository insurance and pledged securities. <br />B. Investments <br />Statutes authorize the District to invest in obligations of the U.S. Treasury, direct obligations <br />of the State of Texas, other obligations guaranteed or insured by the State of Texas or the <br />United States, obligations of states and political subdivisions of any state meeting certain <br />rating requirements, certificates of deposit, and fully collateralized direct repurchase <br />agreements having a defined termination date. The District did not have any investments at <br />September 30, 2016. <br />C. Grants and Contracts Receivables <br />The grants and contracts receivables are for payments from grantors for services which were <br />provided during the year ended September 30, 2016. <br />