2012 CAFR - Encina Wastewater Authority

ENCINA WASTEWATER AUTHORITYNOTES TO FINANCIAL STATEMENTSJUNE 30, 2012 AND 2011Note 4 - Capital Assets: (Continued)2011Balance atJune 30, 2010 Additions DeletionsBalance atJune 30, 2011Capital Assets Not Being Depreciated:Land $ 3,598,173 $ - $ - $ 3,598,173Construction in progress 1,658,195 4,713,638 (2,862,125) 3,509,708Total Capital Assets Not Being Depreciated 5,256,368 4,713,638 (2,862,125) 7,107,881Capital Assets Being Depreciated:Joint wastewater treatment (Unit I) 192,795,916 4,044,478 (587,024) 196,253,370Joint ocean outfall facilities (Unit J) 14,102,005 - - 14,102,005Furnishings and office equipment 1,884,990 230,187 (2,227) 2,112,950Pump station facilities 6,433,788 220,907 (73,408) 6,581,287Flow metering system 299,059 - - 299,059Total Capital Assets Being Depreciated 215,515,758 4,495,572 (662,659) 219,348,671Less Accumulated Depreciation For:Joint wastewater treatment (Unit I) (90,974,356) (5,567,990) 587,020 (95,955,326)Joint ocean outfall facilities (Unit J) (10,777,787) (293,828) - (11,071,615)Furnishings and office equipment (1,113,704) (168,602) 2,226 (1,280,080)Pump station facilities (3,609,103) (226,495) 23,857 (3,811,741)Flow metering system (266,942) (2,920) - (269,862)Total Accumulated Depreciation (106,741,892) (6,259,835) 613,103 (112,388,624)Net Capital Assets Being Depreciated 108,773,866 (1,764,263) (49,556) 106,960,047Net Capital Assets $ 114,030,234 $ 2,949,375 $ (2,911,681) $ 114,067,928Note 5 - Noncurrent Liabilities:Noncurrent liabilities consist of the following at June 30:2012Balance atJune 30, 2011 Additions DeletionsBalance atJune 30, 2012Amountdue withinone yearRetentions payable - Capital program $ 175,993 $ 570,517 $ (587,093) $ 159,417 $ -Net OPEB obligation (Note 6) 73,469 38,822 (652) 111,639 -Compensated absences 990,011 647,454 (588,197) 1,049,268 75,944Total Noncurrent Liabilities $ 1,239,473 $ 1,256,793 $ (1,175,942) $ 1,320,324 $ 75,9442011Balance atJune 30, 2010 Additions DeletionsBalance atJune 30, 2011Amountdue withinone yearRetentions payable - Capital program $ - $ 204,773 $ (28,780) $ 175,993 $ -Net OPEB obligation (Note 6) 36,263 37,559 (353) 73,469 -Compensated absences 946,788 643,849 (600,626) 990,011 56,819Total Noncurrent Liabilities $ 983,051 $ 886,181 $ (629,759) $ 1,239,473 $ 56,819Retentions payable represents amounts withheld from certain construction contracts. Once projects arecomplete and accepted by the Authority’s Board of Directors, retentions payable are released thirty daysfollowing a Notice of Completion filing with the county recorder’s office. All retention amounts are expected tobe paid out during Fiscal Year 2013.See accompanying independent auditors’ report.32