Statement of Net Position
The Water Authority received its 15th consecutive award from the Government Finance Officers Association for financial reporting excellence. The Water Authority was also awarded a Distinguished Budget Presentation award for its Multi-Year Budget for Fiscal Years 2014 and 2015. The Water Authority has received this award every year since 1995.
Statements of
Net Position
Net Position
| 2015 | 2014 | |
|---|---|---|
| Assets: | ||
| Current Assets: | ||
| Cash and investments | 111,130,235 | 1,609,258 |
| Restricted cash and investments | 170,873,233 | 337,066,803 |
| Water receivables | 90,113,890 | 115,790,820 |
| Interest receivable | 1,222,552 | 1,317,844 |
| Taxes receivable | 1,159,303 | 1,364,468 |
| Other receivables | 15,697,438 | 9,761,981 |
| Inventories | 52,428,622 | 27,589,904 |
| Prepaid expenses | 4,636,815 | 4,637,593 |
| Total current assets | 447,262,088 | 499,138,671 |
| Noncurrent Assets: | ||
| Cash and investments | 115,405,373 | 200,567,595 |
| Restricted cash and Investments | 70,039,820 | 16,715,590 |
| Advances to other agencies | 278,977 | 343,874 |
| Retention receivable | 1,724,761 | 1,021,168 |
| Long-term loan receivables | 20,000,000 | 20,000,000 |
| Net OPEB asset | 2,157,000 | - |
| Capital assets: | ||
| Non-depreciable | 640,109,515 | 633,109,800 |
| Depreciable | 2,617,179,700 | 2,580,689,573 |
| Total noncurrent assets | 3,466,895,146 | 3,452,447,600 |
| Total assets | 3,914,157,234 | 3,951,586,271 |
| Deferred outflows of resources: | ||
| Deferred loss on refunding | 52,891,210 | 56,480,770 |
| Employer contributions subsequent to measurement date | 4,142,513 | - |
| Total deferred outlaws of resources | 57,033,723 | 56,480,770 |
| Liabilities: | ||
| Current Liabilities: | ||
| Accounts payable and other liabilities | 75,697,190 | 97,556,079 |
| Interest payable | 18,448,486 | 19,312,756 |
| Construction deposits | 451,123 | 315,406 |
| Short-term liabilities | 360,000,000 | 360,000,000 |
| Current portion of long-term liabilities | 39,205,400 | 44,267,111 |
| Total current liabilities | 493,802,199 | 521,451,352 |
| Noncurrent Liabilities: | ||
| Long-term liabilities | 1,913,161,795 | 2,015,008,349 |
| Net pension liabilities | 57,843,537 | - |
| Total noncurrent assets | 1,971,005,332 | 2,015,008,349 |
| Total liabilities | 2,464,807,531 | 2,536,459,701 |
| Deferred inflows of resources: | ||
| Differences between projected and actual earnings on pension plan investments | 9,810,726 | - |
| Net position: | ||
| Net Investment in capital assets | 1,102,128,289 | 1,011,397,033 |
| Restricted for construction projects | 143,366,311 | 201,696,008 |
| Restricted for debt service | 113,537 | 549,186 |
| Unrestricted | 250,964,563 | 257,965,113 |
| Total net position | 1,496,572,700 | 1,471,607,340 |
