Harnett County, North Carolina
Enterprise Funds
Combining Balance Sheet
June 30, 2001
With Comparative Totals for June 30, 2000
Bunnlevel/
  Harnett Northeast Buies Creek/ South Central West Central Northwest Southwest Riverside Southeast East Central Total Solid Waste Totals
County Public Metro Water  Coats Water and Water and Water and Water and Water and Water and Water and Public Management June 30, June 30,
Utilities Fund   Sewer Fund   Sewer Fund   Sewer Fund   Sewer Fund   Sewer Fund Sewer Fund   Sewer Fund   Sewer Fund   Sewer Fund   Utility Funds   Eliminations   Fund   2001   2000
Assets:
Current assets:
  Cash and cash equivalents  $    5,995,861  $                  -  $               -  $                     -  $               -  $               -  $                 -  $               -  $               -  $               -  $       5,995,861  $                  -  $  3,029,044  $     9,024,905  $12,151,750
  Investment in direct financing lease --- 8,532,603 1,145,345 3,822,313 2,390,701 2,330,076 6,848,777 173,721 1,384,889 3,630,958 30,259,383 (30,259,383) --- ---
  Taxes receivable, net --- --- --- --- --- --- --- --- --- --- --- --- 102,279 102,279 98,710
  Accounts receivable, net 1,123,059 --- --- --- --- --- --- --- --- --- 1,123,059 --- 125,725 1,248,784 1,059,755
  Inventories 171,110 --- --- --- --- --- --- --- --- --- 171,110 --- --- 171,110 171,110
    Total current assets 7,290,030 8,532,603 1,145,345 3,822,313 2,390,701 2,330,076 6,848,777 173,721 1,384,889 3,630,958 37,549,413 (30,259,383) 3,257,048 10,547,078 13,481,325
Fixed assets, net of accumulated
  depreciation 82,978,537 --- --- --- --- --- --- --- --- --- 82,978,537 --- 1,666,014 84,644,551 70,393,251
   
Bond issuance costs, net of  
  accumulated amortization 110,711 --- --- --- --- --- --- --- --- --- 110,711 --- --- 110,711 124,754
    Total assets  $  90,379,278  $   8,532,603  $ 1,145,345  $       3,822,313  $ 2,390,701  $ 2,330,076  $  6,848,777  $    173,721  $ 1,384,889  $ 3,630,958  $   120,638,661  $(30,259,383)  $  4,923,062  $   95,302,340  $83,999,330
Liabilities and Fund Equities:
Current liabilities:
  Accounts payable and accrued liabilities  $       965,618  $                  -  $               -  $                     -  $               -  $               -  $                 -  $               -  $               -  $               -  $          965,618  $                  -  $     176,821  $     1,142,439  $     227,802
  Accrued interest payable 205,604 54,953 5,345 20,313 11,051 11,076 27,008 721 5,889 15,458 357,418 (151,814) --- 205,604 199,794
  Bond anticipation note 1,194,000 --- --- --- --- --- --- --- --- --- 1,194,000 --- 1,194,000 ---
  Current portion of long-term debt 1,715,381 661,000 110,000 154,300 37,500 61,000 267,711 3,000 20,000 46,000 3,075,892 (1,360,511) --- 1,715,381 1,663,275
  Unearned revenue 23,298 --- --- --- --- --- --- --- --- --- 23,298 --- 103,665 126,963 121,131
  Customer deposits 526,828 --- --- --- --- --- --- --- --- --- 526,828 --- --- 526,828 490,332
     Total current liabilities 4,630,729 715,953 115,345 174,613 48,551 72,076 294,719 3,721 25,889 61,458 6,143,054 (1,512,325) 280,486 4,911,215 2,702,334
Noncurrent liabilities:
  Accrued landfill closure and
    postclosure care costs --- --- --- --- --- --- --- --- --- --- --- --- 3,648,710 3,648,710 3,649,561
  Accrued vacation pay 155,472 --- --- --- --- --- --- --- --- --- 155,472 --- 22,601 178,073 165,863
  Noncurrent portion of long-term debt 33,568,990 7,816,650 1,030,000 3,647,700 2,342,150 2,258,000 6,554,058 170,000 1,359,000 3,569,500 62,316,048 (28,747,058) --- 33,568,990 34,470,901
     Total noncurrent liabilities 33,724,462 7,816,650 1,030,000 3,647,700 2,342,150 2,258,000 6,554,058 170,000 1,359,000 3,569,500 62,471,520 (28,747,058) 3,671,311 37,395,773 38,286,325
     Total liabilities 38,355,191 8,532,603 1,145,345 3,822,313 2,390,701 2,330,076 6,848,777 173,721 1,384,889 3,630,958 68,614,574 (30,259,383) 3,951,797 42,306,988 40,988,659
Fund equity:
  Contributed capital, net 28,796,721 --- --- --- --- --- --- --- --- --- 28,796,721 --- --- 28,796,721 29,373,528
  Retained earnings 23,227,366 --- --- --- --- --- --- --- --- --- 23,227,366 --- 971,265 24,198,631 13,637,143
    Total fund equity 52,024,087 --- --- --- --- --- --- --- --- --- 52,024,087 --- 971,265 52,995,352 43,010,671
 
    Total liabilities and fund equity  $  90,379,278  $   8,532,603  $ 1,145,345  $       3,822,313  $ 2,390,701  $ 2,330,076  $  6,848,777  $    173,721  $ 1,384,889  $ 3,630,958  $   120,638,661  $(30,259,383)  $  4,923,062  $   95,302,340  $83,999,330
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