HART COUNTY, GEORGIA
STATEMENT OF NET ASSETS
MAJOR COMPONENT UNITS - BUSINESS-TYPE ACTIVITIES
September 30, 2004
ASSETS

Water &
Sewer
Authority

 

The Joint
Development
Authority of
Franklin,
Hart &
Stephens

 

Total
Business-Type
Activities
(Major)

 
Cash $183,795 $457,222 $641,017
Investments 581,475 - 581,475
Receivables (net of allowance for uncollectibles) 23,871 - 23,871
Inventory 20,090 -  20,090
Restricted cash - 5,652 5,652
Prepaid items 2,020 - 2,020
Capital assets:      
Land and improvements   1,357,145 1,357,145
Waterlines 3,231,912 - 3,231,912
Machinery, equipment, and other 96,384   96,384
Construction in progress 1,776,804 689,846 2,466,650
Less accumulated depreciation (160,864) - (160,864)
Capital assets, net of depreciation 4,944,236 2,046,991 6,991,227
Total Assets 5,755,487 2,509,865 8,265,352
LIABILITIES
Current Liabilities
Accounts payable		 22,139 - 22,139
Contracts and retainage payable 118,000 - 118,000
Customer deposits 5,737 - 5,737
Other accrued items 405   405
Notes payable 7,983 54,400 62,383
Total Current Liabilities 154,264 54,400 208,664
Non-Current Liabilities
Note Payable		 108,935 778,700 887,635
Total Liabilities 263,199 833,100 1,096,299
NET ASSETS
Invested in capital assets, net of related debt		 4,709,318 1,213,891 5,923,209
Restricted for:
Debt Service		 - 5,652 5,652
Unrestricted 782,970 457,222 1,240,192
Total Net Assets $5,492,288 $1,676;765 $7,169,053