Comprehensive Annual Financial Report for the ... - WMATA.com

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Washington Metropolitan Area Transit AuthorityFY 2009 Comprehensive Annual Financial ReportStatements of Net AssetsJune 30, 2009 and 2008(in thousands)ASSETSCurrent assets:Cash and deposits (note 3) $Investments (note 3)Contributions receivable (note 4)Accounts receivable and other assets (net of uncollectibleaccounts of $.08 million in 2009 and $.06 million in 2008)Current portion of prefunded lease commitments (note 11)Materials and supplies inventory (net of allowance of$4,641 in 2009 and $10,000 in 2008)Total current assets2009190,478164,088131,54938,01183,54395,092702,7612008$ 13,670232,48190,61152,814162,92588,416640,917Noncurrent assets:Long-term portion of contributions receivable (note 4)Net pension asset (note 8)Prefunded lease commitments (notes 11 and 12)Capital assets (note 5):Construction in progressLandTransit facilities and equipment, netTotal noncurrent assetsTotal assets168,890 149,506161,321 172,651756,575 1,212,685168,965 262,685447,314 448,5867,491,181 7,481,9499,194,246 9,728,062$ 9,897,007 $ 10,368,979The accompanying notes are an integral part of these basic financial statements.21
Washington Metropolitan Area Transit AuthorityFY 2009 Comprehensive Annual Financial ReportStatements of Net Assets (Continued)June 30, 2009 and 2008(in thousands)2009 2008LIABILITIESCurrent liabilities:Accounts payable and accrued expenses $ 214,825 $ 207,168Accrued salaries and benefits 91,444 80,996Accrued interest payable 3,984 4,628Deferred revenue 60,305 69,209Current portion of estimated liabilityfor injury and damage claims (notes 10 and 12) 47,462 39,220Current portion of retainage on contracts (note 12) 2,437 1,847Current portion of deferred lease revenue (note 12) 3,401 5,469Current portion of bonds payable and other debt (notes 6 and 12) 29,693 398,163Current portion of obligations under lease agreements (notes 11 and 12) 83,543 162,925Total current liabilities 537,094 969,625Noncurrent liabilities:Estimated liability for injury and damage claims (notes 10 and 12) 78,681 72,305Retainage on contracts (note 12) 26,927 30,292Deferred lease revenue (note 12) 24,504 45,018Bonds payable and other debt (notes 6 and 12) 406,178 124,963Obligations under lease agreements (notes 11 and 12) 756,575 1,212,685Unfunded OPEB Liability (note 9) 118,653 59,247Total noncurrent liabilities 1,411,518 1,544,510Commitments and contingencies (notes 8, 9, 10 and 11)NET ASSETSTotal liabilities 1,948,612 2,514,135Invested in capital assets, net of related debt 7,642,442 7,649,507Restricted 305,953 205,337Total net assets $ 7,948,395 $ 7,854,844The accompanying notes are an integral part of the basic financial statements.22
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