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Children's Advocacy Center of Paris <br /> Notes to Financial Statements <br /> December 31, 2002 <br /> <br />NOTE 3--PROPERTY PLANT AND EQUIPMENT <br /> <br />Plant assets are stated at cost or estimated fair value. Depreciation is allocated to depreciable a~sais <br />using the straight-line method over estimated useful lives of thirty years for buildings and <br />improvements and five years for equipment, md furniture. <br /> <br />Property and equipment consisted of the following at December 31, 2002: <br /> <br /> Land $ 9,000 <br /> Land Improvements 11,633 <br /> Buildings 97,642 <br /> Furniture and Equipment 26716 <br /> 144,991 <br /> Accumulated Depreciation (ZL,_452) <br /> Total Assets at Cost $121520_ <br /> <br />NOTE 4--NOTES PAYABLE AND LONG-TERM DEBT <br /> <br />The following is a summary of long-term debt at December 31, 2002: <br /> <br />Note payable to a bank, beating interest at 8.00% and secured by real property. <br />Payments of principal and interest are due monthly through October 1, 2009 $18,117 <br /> <br />Anticipated maturities of the note for the years ending December 31 are as follows: <br /> <br /> 2003 2,190 <br /> 2004 2,371 <br /> 2005 2,372 <br /> 2006 2,783 <br /> 2007 and thereafter <br /> <br />NOTE 5--RESTRICTIONS ON ASSETS <br /> <br />In January of 2001, the Organization started the Rainbow Room to provide emergency resources to <br />the children involved with foster care, child protective services or law enforcement. The <br />Organization received donations to stock this room. During the year ended December 31, 2002, <br />$5,222 was received in donations specific to_the mom. Of this mount $4,652[ was not used and <br />remains in the temporarily restricted net assets. <br /> <br /> There were no permanently restricted net assets as of December 31, 2002. <br /> <br /> <br />