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City of Paris, Texas Statement 7
<br />Statement of Net Assets (Continued)
<br />Proprietary Funds
<br />For the Year Ended September 30, 2007
<br /> Water and Sewer Water and Sewer
<br /> Enterprise Fund Enterprise Fund
<br /> Current Year Prior Year
<br />LIABILITIES
<br />Current Liabilities:
<br />Accounts Payable 43,222 15,852
<br />Payable to U.S.A. for Water Rights -Current Portion 31,665 30,702
<br />Interest Payable 345,175 385,291
<br />Lease Payable -Current Portion 40,661 -
<br />Accrued Compensated Absences -Current Portion 8,700 9,900
<br />Due to Other Funds - 96,165
<br />Revenue Bonds -Current Portion 2,843,000 2,717,600
<br />Total Current Liabilities 3,312,423 3,255,510
<br />Non-Current Liabilities:
<br />Revenue Bonds Payable -Long-Term Portion 20,890,400 23,733,400
<br />Payable to U.S.A. for Water Rights -Long-Term Portion 547,252 578,917
<br />Customer Deposits 714,627 646,851
<br />Lease Payable -Long-Term Portion 61,004 -
<br />Accrued Compensated Absences Long-Term Portion 106,557 99,996
<br />Total Non-Current Liabilities 22,319,840 25,059,164
<br />Total Liabilities 25,632,263 - 28,314,674
<br />NET ASSETS
<br />Invested in Capital Assets, Net of Related Debt 23,735,238 23,590,438
<br />Restricted for Debt Service 1,702,783 1,395,310
<br />Restricted for Construction 1,555,686 1,469,388.
<br />Unrestricted 6,530,918 6,282,200
<br />Total Net Assets $ 33,524,625 $ 32,737,336
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