Comprehensive Annual Financial Report 2007 - MSD

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LOUISVILLE AND JEFFERSON COUNTY METROPOLITAN SEWER DISTRICTNOTES TO THE COMPARATIVE FINANCIAL STATEMENTSFOR THE YEARS ENDED JUNE 30, 2007 AND 2006(Continued)(in thousands)NOTE 2. DEPOSITS AND INVESTMENTS - (CONTINUED)A reconciliation of cash, cash equivalents and investments as shown onthe Comparative Statement of Net Assets for MSD is as follows:June 302007 2006Cash and cash equivalents - unrestricted $ 1,912 $ 3,152Investments - unrestricted 24,935 32,691Cash and cash equivalents - restricted 3,133 24Investments - restricted 73,801 134,850$ 103,781 $ 170,717NOTE 3. RESTRICTED CASH, CASH EQUIVALENTS AND INVESTMENTSMSD's revenue bond resolution provides that MSD shall maintain in aDebt Service Reserve Account a balance equal to the maximum annualaggregate gross principal and interest due on all outstanding revenue bonds;or, in lieu of cash and investments in that amount, a letter of credit or policy ofbond insurance payable in that amount. Resolutions adopted in connectionwith the issuance of MSD First Mortgage Bonds, and of subdistrict sewerrevenue bonds and municipal improvement assessment bonds whoseobligation MSD has assumed, also provide for the maintenance of debtservice reserve accounts.Cash, cash equivalents and investments segregated as accountsrestricted for authorized construction include proceeds from issuance of MSDbonds.32
LOUISVILLE AND JEFFERSON COUNTY METROPOLITAN SEWER DISTRICTNOTES TO THE COMPARATIVE FINANCIAL STATEMENTSFOR THE YEARS ENDED JUNE 30, 2007 AND 2006(Continued)(in thousands)NOTE 3. RESTRICTED CASH, CASH EQUIVALENTS AND INVESTMENTS(CONTINUED)Cash, cash equivalents and investments segregated and restricted areas follows:June 302007 2006Payment of bond principaland interest $ 36,759 $ 37,369Authorized construction 40,175 97,505Total restricted cash, cashequivalents and investments $ 76,934 $ 134,87433
Page 1 and 2: MSDSMLouisville and Jefferson Count
Page 3 and 4: LOUISVILLE AND JEFFERSON COUNTY, KY
Page 5 and 6: LOUISVILLE AND JEFFERSON COUNTY MET
Page 7 and 8: INTRODUCTORY SECTION
Page 9 and 10: Louisville and Jefferson County Met
Page 11 and 12: Since 2003, approximately $1.5 bill
Page 13 and 14: Factors Affecting Financial Conditi
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Page 19 and 20: FINANCIAL SECTION
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Page 24 and 25: This statement helps the user to as
Page 26 and 27: ago. This increase is net of the $3
Page 28 and 29: The 1993 Resolution and itssuppleme
Page 30 and 31: Requests For Additional Information
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Page 62 and 63: LOUISVILLE AND JEFFERSON COUNTY, KE
Page 72: GREATER LOUISVILLE, KENTUCKY/INDIAN

Comprehensive Annual Financial Report 2007 - MSD

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