planning department - Town of Scarborough

TOWN OF SCARBOROUGH, MAINE
Balance Sheet
Governmental Funds
June 30, 2011
Statement 3
General Haigis Other Total
Performance Town Parkway Governmental Governmental
General Bonds Improvements Assessments Funds Funds
ASSETS
Cash and cash equivalents $ 5,554,730 278,689 1,188,751 - 541,119 7,563,289
Investments 2,412,731 678,518 884,751 - 5,257,487 9,233,487
Receivables:
Accounts 563,698 - 3,000 - 1,000 567,698
Intergovernmental 182,202 - 100,000 - 445,353 727,555
Taxes receivable 168,995 - - - - 168,995
Tax liens 730,719 - - - 730,719
Interfund loans receivable 2,904,940 - - - 13,986 2,918,926
Tax acquired property 7,231 - - - - 7,231
Inventory - - - - 21,419 21,419
Notes receivable - - - 2,545,939 - 2,545,939
Total assets $ 12,525,246 957,207 2,176,502 2,545,939 6,280,364 24,485,258
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable and other current liabilities 1,092,572 - 603,080 - 712,596 2,408,248
Accrued payroll and other related liabilities 3,676,889 - - - 3,676,889
Accrued compensated absences 30,366 - - - - 30,366
Interfund loans payable - - 963 2,141,507 776,456 2,918,926
Taxes collected in advance 65,091 - - - - 65,091
Deferred tax revenue 671,053 - - - - 671,053
Performance bond deposits - 957,207 - - - 957,207
Total liabilities 5,535,971 957,207 604,043 2,141,507 1,489,052 10,727,780
Fund balances:
Nonspendable Permanent Fund Principal 126,329 126,329
Nonspendable Inventory 21,419 21,419
Restricted for Town 2,685,386 - 1,572,459 404,432 531,508 5,193,785
Restricted for Education 495,941 368,843 864,784
Committed - General Fund 629,908 - - - - 629,908
Committed - Education - - - - - -
Committed - Special Revenues - - - - 4,292,188 4,292,188
Assigned - General Fund 2,223,390 - - - - 2,223,390
Unassigned Town 954,650 - - - (548,975) 405,675
Total fund balances 6,989,275 - 1,572,459 404,432 4,791,312 13,757,478
Total liabilities and fund balanc $ 12,525,246 957,207 2,176,502 2,545,939 6,280,364
Amounts reported for governmental activities in the statement of net assets are different because:
Capital assets used in governmental activities are not financial resources and, therefore,
are not reported in the funds. 110,729,418
Other long-term assets are not available to pay for current period expenditures
and, therefore, are deferred in the funds. 671,053
Long-term liabilities, including bonds payable, are not due and payable in the current
period and therefore, are not reported in the funds.
Bonds payable (66,767,000)
Capital leases (1,105,143)
Accrued interest (377,881)
Landfill liability (429,383)
Other postemployment benefits liability (699,212)
Accrued compensated absences (1,808,222)
Net assets of governmental activities 53,971,108
$
See accompanying notes to financial statements.