Town of Scarborough

Statement 3
TOWN OF SCARBOROUGH, MAINE
Balance Sheet
Governmental Funds
June 30, 2009
General Haigis Other Total
Performance Town Parkway Governmental Governmental
General Bonds Improvements Assessments Funds Funds
ASSETS
Cash and cash equivalents $ 4,691,357 22,504 1,035,199 - 445,465 6,194,525
Investments 4,803,188 1,162,371 758,166 - 7,699,766 14,423,491
Receivables:
Accounts 617,828 - - - - 617,828
Intergovernmental - - - - 384,638 384,638
Taxes receivable 136,958 - - - - 136,958
Tax liens 559,400 - - - - 559,400
Interfund loans receivable 3,152,886 - - - 23,948 3,176,834
Tax acquired property 7,231 - - - - 7,231
Inventory - - - - 17,481 17,481
Notes receivable - - - 2,894,196 - 2,894,196
Total assets $ 13,968,848 1,184,875 1,793,365 2,894,196 8,571,298 28,412,582
LIABILITIES AND FUND BALANCES
Liabilities:
Accounts payable 1,057,383 - 446,593 - 451,044 1,955,020
Accrued payroll and other related liabilities 3,459,260 - - - - 3,459,260
Accrued compensated absences 22,425 - - - - 22,425
Interfund loans payable - - 349,171 1,494,935 1,331,953 3,176,059
Taxes collected in advance 69,250 - - - - 69,250
Deferred tax revenue 556,721 - - - - 556,721
Performance bond deposits - 1,184,875 - - - 1,184,875
Total liabilities 5,165,039 1,184,875 795,765 1,494,935 1,782,997 10,423,610
Fund balances:
Reserved 629,962 - - 2,823,793 237,992 3,691,747
Unreserved, reported in:
General fund - undesignated 6,355,529 - - - - 6,355,529
General fund - designated 1,818,318 - - - - 1,818,318
Special revenue funds (deficit) - - - (1,424,532) 6,463,607 5,039,075
Capital projects funds - - 997,601 86,702 1,084,303
Permanent funds - - - - - -
Total fund balances 8,803,809 - 997,601 1,399,261 6,788,301 17,988,972
Total liabilities and fund balanc $ 13,968,848 1,184,875 1,793,365 2,894,196 8,571,298
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. 102,749,247
Other long-term assets are not available to pay for current period expenditures
and, therefore, are deferred in the funds. 556,721
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 (67,785,000)
Capital leases (2,223,239)
Accrued interest (439,820)
Landfill liability (437,484)
Other postemployment benefits liability (274,639)
Accrued compensated absences (1,582,333)
Net assets of governmental activities 48,552,425
$
See accompanying notes to financial statements.