BASIC FINANCIAL STATEMENTS GOVERNMENT-WIDE FINANCIAL STATEMENTS by hmn57734

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									     BASIC FINANCIAL STATEMENTS
GOVERNMENT-WIDE FINANCIAL STATEMENTS
                                     COUNTY OF NEVADA, CALIFORNIA

                                                   Statement of Net Assets
                                                        June 30, 2005

                                                                     Governmental    Business-Type
                                                                      Activities       Activities          Total
ASSETS
 Cash and investments                                               $ 37,413,078     $ 13,247,531      $ 50,660,609
 Receivables, net                                                      4,599,064          724,476         5,323,540
 Taxes receivable                                                      5,427,956                --        5,427,956
 Internal balances                                                       964,029         (964,029)                --
 Due from other agencies                                               3,884,317                --        3,884,317
 Inventory                                                               199,805           61,672           261,477
 Deposits                                                                 41,310                --           41,310
 Loans receivable                                                      2,686,176                --        2,686,176
 Bond issue cost, net of accumulated amortization                              --         432,905           432,905
 Deferred reacquisition cost, net of accumulated amortization                  --         642,776           642,776
 Restricted assets:
   Cash and investments                                                 2,138,690         1,000,409       3,139,099
 Capital Assets:
   Non-depreciable assets                                             200,712,103         5,360,120     206,072,223
   Depreciable assets, net of depreciation                             50,445,062        13,967,317      64,412,379

          Total Assets                                                308,511,590        34,473,177     342,984,767

LIABILITIES
 Line of credit                                                                 --         100,000          100,000
 Accounts payable                                                       2,424,574          936,994        3,361,568
 Salaries payable                                                       1,850,115          121,653        1,971,768
 Interest payable                                                         186,937          114,579          301,516
 Customer deposits                                                        383,445                --         383,445
 Deferred revenue                                                         932,611           30,489          963,100
 Restricted liabilities:
   Customer deposits                                                            --          33,143           33,143
 Long-term liabilities:
   Due within one year                                                  7,371,243           789,118       8,160,361
   Due in more than one year                                           15,665,321        24,257,760      39,923,081

          Total Liabilities                                            28,814,246        26,383,736      55,197,982

NET ASSETS
 Invested in capital assets, net of related debt                      233,807,949         8,608,896     242,416,845
 Restricted for:
   Debt service                                                         2,154,142                 --      2,154,142
   Other                                                               35,841,000                 --     35,841,000
 Unrestricted                                                           7,894,253          (519,455)      7,374,798

          Total Net Assets                                          $ 279,697,344    $    8,089,441    $ 287,786,785




                  The accompanying notes are an integral part of these financial statements.
                                                    17
                                      COUNTY OF NEVADA, CALIFORNIA

                                                  Statement of Activities
                                            For the Year Ended June 30, 2005

                                                                                            Program Revenues

                                                                                                 Operating             Capital
                                                                             Charges for         Grants and           Grants and
FUNCTIONS/PROGRAMS                                     Expenses               Services          Contributions        Contributions
Governmental activities:
 General government                                $     8,938,435       $     6,338,047    $       2,937,313    $              --
 Public ways and facilities                              6,312,601             1,240,364            4,878,717                   --
 Public protection                                      43,150,103             6,121,598           13,654,484                   --
 Health and sanitation                                  16,151,498             2,269,265           17,397,972                   --
 Public assistance                                      21,271,351                57,583           16,626,055                   --
 Education                                               2,471,046                92,298              234,100                   --
 Recreation                                                 11,126                     --                   --                  --
 Interest on long-term debt                                757,523                     --                   --                  --
          Total Governmental Activities                 99,063,683            16,119,155           55,728,641                   --

Business-type Activities:
 Eastern Nevada County Solid Waste                         345,238                98,145                1,510                   --
 Western Nevada County Solid Waste                       5,971,008             7,400,950              284,360                   --
 Transit Services                                        2,874,082               309,693            2,455,762                   --
 Airport                                                 1,035,399               548,488               45,783                   --
 Sanitation District                                     3,331,819             3,818,931                    --                  --
          Total Business-Type Activities:               13,557,546            12,176,207            2,787,415                   --

         Total Primary Government                  $   112,621,229       $    28,295,362    $      58,516,056    $              --

                                                   General revenues:
                                                    Taxes:
                                                      Property taxes
                                                      Sales and use taxes
                                                      Property transfer taxes
                                                      Transient occupancy taxes
                                                      Timber yield taxes
                                                      Aircraft taxes
                                                      Other taxes
                                                    Motor vehicle in-lieu taxes
                                                    Interest and investment earnings
                                                    Miscellaneous
                                                        Total General Revenues

                                                        Change in Net Assets

                                                   Net Assets - Beginning
                                                   Prior period adjustment
                                                   Net Assets - Beginning, Restated

                                                   Net Assets - Ending




                     The accompanying notes are an integral part of these financial statements.
                                                       18
             Net (Expense) Revenue and
               Changes in Net Assets

                    Primary Government
    Governmental       Business-Type
     Activities          Activities         Total

$        336,925                       $       336,925
        (193,520)                             (193,520)
     (23,374,021)                          (23,374,021)
       3,515,739                             3,515,739
      (4,587,713)                           (4,587,713)
      (2,144,648)                           (2,144,648)
         (11,126)                              (11,126)
        (757,523)                             (757,523)
     (27,215,887)                          (27,215,887)


                     $     (245,583)          (245,583)
                          1,714,302          1,714,302
                           (108,627)          (108,627)
                           (441,128)          (441,128)
                            487,112            487,112
                          1,406,076          1,406,076

     (27,215,887)         1,406,076        (25,809,811)



      18,086,143             4,316          18,090,459
       5,161,912                 --          5,161,912
       1,613,064                 --          1,613,064
         177,605            11,293             188,898
          79,126                 --             79,126
          33,347            37,052              70,399
          16,186                 --             16,186
       6,370,271                 --          6,370,271
         967,696           305,818           1,273,514
       3,021,371           352,469           3,373,840
      35,526,721           710,948          36,237,669

       8,310,834          2,117,024         10,427,858

     271,372,021          5,964,177        277,336,198
          14,489              8,240             22,729
     271,386,510          5,972,417        277,358,927

$ 279,697,344        $    8,089,441    $   287,786,785




                         The accompanying notes are an integral part of these financial statements.
                                                           19
BASIC FINANCIAL STATEMENTS
FUND FINANCIAL STATEMENTS
                                 COUNTY OF NEVADA, CALIFORNIA

                                               Balance Sheet
                                             Governmental Funds
                                               June 30, 2005

                                                                                                 Community
                                                             General           Road              Development
                                                              Fund             Fund                Agency
ASSETS
 Cash and investments                                    $    5,738,472    $   4,170,797     $      1,367,328
 Accounts receivable                                          1,531,525          245,700               68,360
 Taxes receivable                                               963,741          239,730               12,598
 Due from other funds                                         4,805,271          192,913              145,283
 Inventory                                                            --         194,336                    --
 Advances to other funds                                        609,311                --                   --
 Loans receivable                                                     --               --                   --
 Restricted assets:
   Cash and investments                                               --               --                   --
         Totals Assets                                   $   13,648,320    $   5,043,476     $      1,593,569

LIABILITIES AND FUND BALANCES
LIABILITIES
 Accounts payable                                        $      613,406    $    105,783      $         46,020
 Accrued payroll and benefits                                 1,079,561         122,797               140,791
 Deposits payable                                                     --         34,019               303,295
 Due to other funds                                             681,317          23,952                74,065
 Deferred revenue                                                     --              --              651,098
         Total Liabilities                                    2,374,284         286,551             1,215,269

FUND BALANCES
 Reserved for:
  Debt service                                                        --              --                    --
  Encumbrances                                                  199,187         102,250                     --
  Inventory and prepaids                                              --        194,336                     --
  Advances                                                      609,311               --                    --
  Long-term receivables                                               --              --                    --
 Unreserved, reported in:
  General
    Designated                                                6,728,000                --                   --
    Undesignated                                              3,737,538                --                   --
  Special revenue funds
    Undesignated                                                      --       4,460,339             378,300
           Total Fund Balances                               11,274,036        4,756,925             378,300

           Total Liabilities and Fund Balances           $   13,648,320    $   5,043,476     $      1,593,569




                The accompanying notes are an integral part of these financial statements.
                                                  22
    Human                Health and            Motor                 Other                Total
    Services              Welfare              Vehicle            Governmental         Governmental
    Agency              Realignment            License               Funds                Funds

$      1,037,268    $      3,741,871       $     8,116,775    $      10,881,245    $      35,053,756
       2,223,243                   --                    --             500,875            4,569,703
          63,323             955,449             1,964,085            1,229,030            5,427,956
         227,735             979,902               466,798              630,748            7,448,650
               --                  --                    --                   --             194,336
               --                  --                    --                   --             609,311
               --                  --                    --           2,686,176            2,686,176

               --                  --                    --           2,138,690            2,138,690
$      3,551,569    $      5,677,222       $    10,547,658    $      18,066,764    $      58,128,578




$        351,618    $              --      $             --   $       1,166,315    $       2,283,142
         357,363                   --                    --             141,865            1,842,377
          46,131                   --                    --                   --             383,445
       1,185,303              42,691               151,882            1,258,615            3,417,825
         281,513                   --                    --                   --             932,611
       2,221,928              42,691               151,882            2,566,795            8,859,400




               --                     --                 --           2,154,142            2,154,142
           9,422                      --                 --              10,158              321,017
               --                     --                 --                   --             194,336
               --                     --                 --                   --             609,311
               --                     --                 --           2,686,176            2,686,176


               --                     --                 --                   --           6,728,000
               --                     --                 --                   --           3,737,538

       1,320,219           5,634,531            10,395,776           10,649,493           32,838,658
       1,329,641           5,634,531            10,395,776           15,499,969           49,269,178

$      3,551,569    $      5,677,222       $    10,547,658    $      18,066,764    $      58,128,578




               The accompanying notes are an integral part of these financial statements.
                                                 23
                                        COUNTY OF NEVADA, CALIFORNIA

                               Reconciliation of Total Governmental Fund Balances
                    to the Government-Wide Statement of Net Assets - Governmental Activities
                                                  June 30, 2005


Total Governmental Fund Balances                                                                                 $ 49,269,178

     Amounts reported for governmental activities in the statement of net assets are
      different because:

     Capital assets used in governmental activities are not financial resources and
      therefore are not reported in the governmental funds.                                                        249,662,164

     Long-term liabilities, including bonds payable, are not due and payable in the current period and
      therefore are not reported in the governmental funds.
        Interest payable                                                                                              (186,937)
        Long-term debt                                                                                             (22,062,758)

     Internal service funds are used by management to charge the cost of certain activities, such as insurance
      and equipment maintenance and operations, to individual funds. The assets and liabilities
      of the internal service funds must be added to the statement of net assets.                                    3,015,697

   Net Assets of Governmental Activities                                                                         $ 279,697,344




                     The accompanying notes are an integral part of these financial statements.
                                                       24
                               COUNTY OF NEVADA, CALIFORNIA
                                 Statement of Revenues, Expenditures
                                    and Changes in Fund Balances
                                        Governmental Funds
                                  For the Year Ended June 30, 2005
                                                                                              Community
                                                          General            Road             Development
                                                           Fund              Fund               Agency
REVENUES
 Taxes and assessments                                $   23,418,072    $           --    $         11,293
 Licenses and permits                                        857,075           28,896            1,975,449
 Fines and forfeitures                                     1,805,692                --                 946
 Use of money and property                                   435,969           47,693               28,938
 Intergovernmental                                         9,079,821        4,878,296              627,238
 Charges for other services                                6,215,256          534,412            2,193,311
 Other revenue                                             1,121,266           25,803               29,678
       Total Revenues                                     42,933,151        5,515,100            4,866,853

EXPENDITURES
 Current:
  General government                                       7,610,493                --                   --
  Public ways and facilities                                       --       6,813,346                    --
  Public protection                                       32,319,616                --           4,109,117
  Health and sanitation                                            --               --           2,088,192
  Public assistance                                          200,123                --                   --
  Education                                                   84,388                --                   --
  Recreation                                                       --               --                   --
 Debt Service
  Principal                                                   19,618                --                   --
  Interest and other charges                                   3,130                --                   --
 Capital Outlay                                              655,983                --                   --
      Total Expenditures                                  40,893,351        6,813,346            6,197,309

       Excess (Deficiency) of Revenues
        Over (Under) Expenditures                          2,039,800        (1,298,246)         (1,330,456)

OTHER FINANCING SOURCES (USES)
 Inception of capital lease                                   26,682                --                   --
 Transfers in                                              7,046,831        2,904,784            1,618,070
 Transfers out                                            (7,709,468)               --                   --
      Total Other Financing Sources (Uses)                  (635,955)       2,904,784            1,618,070

       Net Change in Fund Balances                         1,403,845        1,606,538             287,614

Fund Balances - Beginning                                  9,870,191        3,150,387               58,153
Prior period adjustment                                            --               --              32,533
Fund Balances - Beginning, Restated                        9,870,191        3,150,387               90,686

Fund Balances - Ending                                $   11,274,036    $   4,756,925     $       378,300

               The accompanying notes are an integral part of these financial statements.
                                                 26
    Human               Health and         Motor                 Other                Total
    Services             Welfare           Vehicle            Governmental         Governmental
    Agency             Realignment         License               Funds                Funds

$             --   $              --   $             --   $      1,658,892     $      25,088,257
            840                   --                 --             11,869             2,874,129
            350                   --                 --            502,867             2,309,855
         31,900               7,578              9,960             348,900               910,938
     23,390,553           7,011,951          1,974,435          15,151,628            62,113,922
        682,922                   --                 --          1,237,415            10,863,316
         86,796                   --                 --          1,849,912             3,113,455
     24,193,361           7,019,529          1,984,395          20,761,483           107,273,872



              --                  --                 --             462,606            8,073,099
              --                  --                 --             244,552            7,057,898
              --                  --                 --           5,453,359           41,882,092
     12,562,396                   --                 --           1,346,476           15,997,064
     18,219,967                   --                 --           2,738,700           21,158,790
              --                  --                 --           2,358,146            2,442,534
              --                  --                 --              11,126               11,126

              --                  --                 --          1,340,000             1,359,618
              --                  --                 --            763,122               766,252
              --                  --                 --                  --              655,983
     30,782,363                   --                 --         14,718,087            99,404,456


     (6,589,002)          7,019,529          1,984,395            6,043,396            7,869,416


              --                  --                 --                   --              26,682
      8,311,045             127,268          2,942,277            2,897,763           25,848,038
         (5,849)         (7,340,888)        (2,802,076)          (7,997,132)         (25,855,413)
      8,305,196          (7,213,620)           140,201           (5,099,369)              19,307

      1,716,194            (194,091)         2,124,596             944,027             7,888,723

       (386,553)          5,828,622          8,271,180          14,573,986            41,365,966
              --                  --                 --            (18,044)               14,489
       (386,553)          5,828,622          8,271,180          14,555,942            41,380,455

$     1,329,641    $      5,634,531    $   10,395,776     $     15,499,969     $      49,269,178

               The accompanying notes are an integral part of these financial statements.
                                                 27
                                         COUNTY OF NEVADA, CALIFORNIA

                            Reconciliation of the Statement of Revenues, Expenditures
                           and Changes in Fund Balances of Governmental Funds to the
                        Government-Wide Statement of Activities - Governmental Activities
                                        For the Year Ended June 30, 2005


Net Change in Fund Balances - Total Governmental Funds                                                                  $ 7,888,723

   Amounts reported for governmental activities in the statement of activities
    are different because:

   Governmental funds report capital outlays as expenditures. However, in the statement of
    activities the cost of those assets is allocated over their estimated useful lives and reported
    as depreciation expense.

       Expenditures for general capital assets, infrastructure, and other related
       capital asset adjustments                                                                           2,090,097
       Less: current year depreciation                                                                    (2,201,087)
                                                                                                                           (110,990)
   Governmental funds only report the disposal of assets to the extent proceeds are received from
    the sale. In the statement of activities, a gain or loss is reported for each disposal. This is the
    cost of the capital assets disposed.                                                                                         --

   Revenues in the statement of activities that do not provide current financial resources are not
     reported as revenue in the governmental funds.
       Change in accounts receivable                                                                                             --

   Long-term debt proceeds provide current resources to governmental funds,
    but issuing debt increases long-term liabilities in the statement of net assets.
    Repayment of bond principal is an expenditure in the governmental funds,
    but the repayment reduces long-term liabilities in the statement of net assets.

     Principal repayments:
       Certificates of participation                                                                      1,340,000
       Capital leases                                                                                        19,592       1,359,592

   Some expenses reported in the statement of activities do not require the use of current financial
     resources and therefore are not reported as expenditures on the governmental funds.

     Change in interest payable                                                                              10,170
     Change in compensated absences                                                                         (98,024)        (87,854)

   Internal service funds are used by management to charge the cost of certain activities, such as
     insurance, equipment maintenance, and operations, to individual funds. The net revenue
     (expense) of certain internal service funds is reported with governmental activities.                                 (738,637)

Change in Net Assets of Governmental Activities                                                                         $ 8,310,834




                      The accompanying notes are an integral part of these financial statements.
                                                        28
                                               COUNTY OF NEVADA, CALIFORNIA

                                                              Statement of Net Assets
                                                                 Proprietary Funds
                                                                   June 30, 2005
                                                                                                                      Enterprise Funds
                                                                                                  Western
                                                                                               Nevada County                                 Sanitation
                                                                                                Solid Waste               Airport             District
ASSETS
  Current assets:
    Cash and investments                                                                   $        10,201,680        $       118,914    $       2,308,283
    Accounts receivable                                                                                529,395                 58,287               88,677
    Due from other funds                                                                                17,828                  3,158                6,996
    Inventory                                                                                                --                51,068                    --
    Deposits                                                                                                 --                     --                   --
    Bond issue cost - net of accumulated amortization                                                  432,905                      --                   --
    Deferred reacquisition cost - net of accumulated
     amortization                                                                                      642,776                      --                   --
         Total Current Assets                                                                       11,824,584                231,427            2,403,956

  Restricted Assets:
    Cash and investments                                                                              1,000,409                     --                    --
          Total Restricted Assets                                                                     1,000,409                     --                    --

  Noncurrent Assets:
    Capital assets (net)                                                                              1,272,606             5,488,217           12,255,467
         Total Noncurrent Assets                                                                      1,272,606             5,488,217           12,255,467

          Total Assets                                                                              14,097,599              5,719,644           14,659,423

LIABILITIES
  Current Liabilities:
    Line of credit                                                                                               --                 --             100,000
    Accounts payable                                                                                       351,923             41,683              453,309
    Accrued payroll and benefits                                                                            39,317              5,844               42,552
    Interest Payable                                                                                             --            41,389               67,682
    Due to other funds                                                                                      51,701                649               42,147
    Deferred revenue                                                                                             --            30,489                    --
    Capital leases payable                                                                                       --                 --                   --
    Bonds, loans & notes payable                                                                                 --            38,168               74,191
    Compensated absences                                                                                    38,235              3,988              121,717
    Certificates of participation                                                                          460,000                  --                   --
    Accrued claims payable                                                                                       --                 --                   --
            Total Current Liabilities                                                                      941,176            162,210              901,598

  Restricted Current Liabilities:
    Customer deposits                                                                                       31,143              2,000                     --
            Total Restricted Current Liabilities                                                            31,143              2,000                     --

  Noncurrent Liabilities:
    Advances from other funds                                                                                --                93,000              268,211
    Capital leases payable                                                                                   --                     --                   --
    Certificates of participation                                                                    9,640,000                      --                   --
    Bonds, loans & notes payable                                                                             --               374,920              448,262
    Closure/postclosure costs                                                                       13,635,078                      --                   --
            Total Noncurrent Liabilities                                                            23,275,078                467,920              716,473

             Total Liabilities                                                                      24,247,397                632,130            1,618,071

NET ASSETS
 Invested in capital assets, net of related debt                                                      1,272,606             5,075,129           12,050,014
 Unrestricted                                                                                       (11,422,404)               12,385              991,338
           Total Net Assets                                                                $        (10,149,798)      $     5,087,514    $      13,041,352

Adjustment to reflect the consideration of internal service fund activities related to enterprise funds.
  Net Assets of Business-type Activities (page 17)


                       The accompanying notes are an integral part of these financial statements.
                                                         30
             Enterprise Funds
      Other                                   Internal
    Enterprise                                Service
     Funds                 Totals              Funds


$       618,654    $        13,247,531    $     2,359,322
         48,117                724,476             29,361
              --                27,982             70,033
         10,604                 61,672              5,469
              --                     --            41,310
              --               432,905                  --

              --               642,776                  --
        677,375             15,137,342          2,505,495


              --             1,000,409                   --
              --             1,000,409                   --


        311,147             19,327,437          1,495,001
        311,147             19,327,437          1,495,001

        988,522             35,465,188          4,000,496



              --               100,000                  --
         90,079                936,994            141,432
         33,940                121,653              7,738
          5,508                114,579                  --
         90,686                185,183             59,340
              --                30,489                  --
              --                     --             4,540
              --               112,359                  --
         52,819                216,759              9,245
              --               460,000                  --
              --                     --           954,908
        273,032              2,278,016          1,177,203


              --                33,143                   --
              --                33,143                   --


        248,100                609,311                  --
              --                     --             5,113
              --             9,640,000                  --
              --               823,182                  --
        159,500             13,794,578                  --
        407,600             24,867,071              5,113

        680,632             27,178,230          1,182,316


        311,147             18,708,896          1,490,461
         (3,257)           (10,421,938)         1,327,719
$       307,890              8,286,958    $     2,818,180

                              (197,517)
                   $         8,089,441


                       The accompanying notes are an integral part of these financial statements.
                                                         31
                                              COUNTY OF NEVADA, CALIFORNIA

                                                  Statement of Revenues, Expenses and
                                                          Changes in Net Assets
                                                            Proprietary Funds
                                                    For the Year Ended June 30, 2005
                                                                                                                 Enterprise Funds
                                                                                              Western
                                                                                           Nevada County                                 Sanitation
                                                                                            Solid Waste               Airport             District
OPERATING REVENUES
 Charges for other services                                                            $            7,400,950    $         13,912    $       3,818,931
 Fuel sales                                                                                                 --            534,576                    --
         Total Operating Revenues                                                                   7,400,950             548,488            3,818,931

OPERATING EXPENSES
 Salaries and benefits                                                                              1,173,671             154,978            1,474,163
 Fuel - Sold                                                                                            9,200             407,962                8,941
 Fuel - Used in operations                                                                                 88                   --                   --
 Maintenance and repairs                                                                               32,177              12,657              366,328
 Parts and supplies                                                                                    15,413                 131               13,752
 Outside services                                                                                   3,834,461             114,313              468,699
 Administration and office                                                                             80,191               6,348              167,441
 Utilities                                                                                             31,082              17,627              263,547
 Insurance                                                                                              8,530               7,729               32,652
 Benefits paid                                                                                              --                  --                   --
 Depreciation                                                                                          97,431             267,235              408,557
 Rentals and lease payments                                                                             4,280               1,249               38,944
 Miscellaneous expense                                                                                143,658              12,092                8,603
          Total Operating Expenses                                                                  5,430,182           1,002,321            3,251,627

          Operating Income (Loss)                                                                   1,970,768            (453,833)             567,304

NON-OPERATING REVENUES (EXPENSES)
 Taxes                                                                                                      --             52,661                    --
 Intergovernmental revenues                                                                           284,360              45,783                    --
 Interest income                                                                                      250,498               3,728               41,209
 Other revenues                                                                                        79,853             135,443              114,418
 Interest expense                                                                                    (500,734)            (24,419)             (44,275)
 Bond amortization                                                                                    (25,590)                  --                   --
 Gain (loss) on sale of fixed assets                                                                        --                  --                (400)

          Total Non-operating Revenues (Expenses)                                                      88,387             213,196              110,952

          Net Income (Loss) Before Contributions
            and Transfers                                                                           2,059,155            (240,637)             678,256

CAPITAL CONTRIBUTIONS IN (OUT)
Capital contributions                                                                                       --                  --                    --

TRANSFERS
Transfers in                                                                                                --                  --                    --
Transfers out                                                                                               --                  --                    --

          Change in Net Assets                                                                      2,059,155            (240,637)             678,256

Total Net Assets - Beginning                                                                      (12,208,953)          5,328,151           12,363,096
Prior period adjustment                                                                                     --                  --                    --
Total Net Assets - Beginning, Restated                                                            (12,208,953)          5,328,151           12,363,096
Net Assets - Ending                                                                    $          (10,149,798)   $      5,087,514    $      13,041,352

Adjustment to reflect the consolidation of internal service fund activities related to enterprise funds.
  Change in net assets of business-type activities (page 18)

                       The accompanying notes are an integral part of these financial statements.
                                                         32
            Enterprise Funds
      Other                                  Internal
    Enterprise                               Service
     Funds                 Totals             Funds

$        407,838     $     11,641,631    $      2,827,064
               --             534,576             125,541
         407,838           12,176,207           2,952,605


       1,168,701            3,971,513             268,415
         131,291              557,394             307,888
               --                  88                   --
         114,562              525,724             147,887
               --              29,296              40,635
       1,360,206            5,777,679             471,153
         108,478              362,458             246,562
               --             312,256               4,253
          91,257              140,168             482,980
               --                   --            990,893
         209,584              982,807             436,170
          16,956               61,429             502,598
               --             164,353                   --
       3,201,035           12,885,165           3,899,434

       (2,793,197)           (708,958)           (946,829)


               --              52,661                   --
       2,457,272            2,787,415                   --
          10,383              305,818              56,758
             595              330,309              40,866
          (5,508)            (574,936)             (1,415)
               --             (25,590)                  --
          22,560               22,160             (31,363)

       2,485,302            2,897,837              64,846


        (307,895)           2,188,879            (881,983)


                --                  --             64,116


           79,735              79,735               7,375
          (79,735)            (79,735)                  --

        (307,895)           2,188,879            (810,492)

         607,545                                3,628,672
            8,240                                       --
         615,785                                3,628,672
$        307,890                         $      2,818,180

                              (71,855)
                     $      2,117,024

                     The accompanying notes are an integral part of these financial statements.
                                                       33
                                        COUNTY OF NEVADA, CALIFORNIA

                                                   Statement of Cash Flows
                                                       Proprietary Funds
                                              For the Year Ended June 30, 2005

                                                                                             Enterprise Funds
                                                                             Western
                                                                          Nevada County                             Sanitation
                                                                           Solid Waste           Airport             District
CASH FLOWS FROM OPERATING ACTIVITIES
   Receipts from customers                                                $    7,515,703     $     546,505      $       3,510,985
   Payments to suppliers                                                      (4,454,584)         (579,466)              (781,973)
   Payments to employees                                                      (1,158,294)         (153,285)            (1,474,163)
        Net Cash Provided (Used) by Operating Activities                       1,902,825          (186,246)             1,254,849

CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES
   Operating grants and other non-operating revenues                              364,213         233,887                  76,302
   Operating subsidies and transfers from (to) other funds                       (127,447)        (13,741)                      --
       Net Cash Provided (Used) by Non-Capital Financing Activities               236,766         220,146                  76,302

CASH FLOWS FROM CAPITAL AND RELATED
 FINANCING ACTIVITIES
   Acquisition of capital assets                                                 (341,251)         (12,183)            (1,255,719)
   Proceeds from sale of capital assets                                                 --               --                     --
   Proceeds from line of credit                                                         --               --               100,000
   Principal payments on debt                                                    (450,000)         (35,774)               (68,945)
   Interest payments on debt                                                     (500,734)         (24,419)                (1,625)
         Net Cash Provided (Used) by Capital and Related
           Financing Activities                                               (1,291,985)          (72,376)            (1,226,289)

CASH FLOWS FROM INVESTING ACTIVITIES
   Interest and dividends                                                        250,498             3,728                 38,192
        Net Cash Provided (Used) by Investing Activities                         250,498             3,728                 38,192

         Net Increase (Decrease) in Cash and Cash Equivalents                  1,098,104          (34,748)                143,054
         Balances - Beginning of the Year                                     10,103,985          153,662               2,165,229
         Balances - End of the Year                                       $   11,202,089     $    118,914       $       2,308,283

RECONCILIATION OF OPERATING INCOME (LOSS) TO NET CASH
 PROVIDED (USED) BY OPERATING ACTIVITIES
   Operating income (loss)                                                $    1,970,768     $    (453,833)     $        567,304
   Adjustments to reconcile operating income to net cash provided
     by operating activities:
       Depreciation                                                               97,431          267,235                408,557
       Decrease (increase) in:
          Accounts receivable                                                    114,753            (3,580)               (76,610)
          Inventory                                                                    --          (30,701)                     --
       Increase (decrease) in:
          Accounts payable                                                       (43,387)           31,343                355,598
          Accrued payroll and benefits                                            11,939               676                      --
          Compensated absences payable                                             3,438             1,017                      --
          Deferred revenue                                                             --            1,597                      --
          Claims payable                                                               --                --                     --
          Change in Landfill liability                                          (252,117)                --                     --
        Net Cash Provided (Used) by Operating Activities                  $    1,902,825     $    (186,246)     $       1,254,849




                    The accompanying notes are an integral part of these financial statements.
                                                      34
             Enterprise Funds
      Other                                  Internal
    Enterprise                               Service
     Funds                Totals              Funds

$       439,771    $      12,012,964     $    2,991,118
     (1,630,392)          (7,446,415)        (3,271,488)
     (1,158,151)          (3,943,893)          (262,400)
     (2,348,772)             622,656           (542,770)



      2,456,357             3,130,759           40,866
        (29,276)             (170,464)         165,142
      2,427,081             2,960,295          206,008




              --           (1,609,153)        (142,229)
         21,454                21,454          (31,363)
              --              100,000                --
              --             (554,719)          (4,033)
              --             (526,778)          (1,415)

         21,454            (2,569,196)        (179,040)


          2,531              294,949             56,758
          2,531              294,949             56,758

       102,294             1,308,704          (459,044)
       516,360            12,939,236         2,818,366
$      618,654     $      14,247,940     $   2,359,322




$    (2,793,197)   $         (708,958)   $    (946,829)


       209,584               982,807           436,170

         31,933                66,496            38,513
          2,894               (27,807)           (5,469)

         29,964              373,518           (48,505)
          3,059               15,674             1,189
          7,491               11,946             4,826
              --               1,597                 --
              --                   --          (22,665)
        159,500              (92,617)                --
$    (2,348,772)   $         622,656     $    (542,770)




                       The accompanying notes are an integral part of these financial statements.
                                                         35
                                  COUNTY OF NEVADA, CALIFORNIA

                                       Statement of Fiduciary Net Assets
                                               Fiduciary Funds
                                                June 30, 2005



                                                                           Investment          Agency
                                                                           Trust Funds         Funds
ASSETS
 Cash and investments                                                  $     58,994,783    $      880,095
 Taxes receivable                                                                     --        6,723,124
 Due from other funds                                                                 --          133,251
 Restricted Assets:
  Cash and investments                                                                --          337,252
       Totals Assets                                                   $     58,994,783    $    8,073,722


LIABILITIES
 Agency obligations                                                    $              --        4,064,777
 Due to other funds                                                               8,623         4,008,945
      Total Liabilities                                                           8,623         8,073,722

NET ASSETS
 Net assets held in trust for pool participants                        $     58,986,160    $            --




                The accompanying notes are an integral part of these financial statements.
                                                  36
                               COUNTY OF NEVADA, CALIFORNIA

                             Statement of Changes in Fiduciary Net Assets
                                           Fiduciary Funds
                                  For the Year Ended June 30, 2005


                                                                                            Investment
                                                                                            Trust Funds
ADDITIONS:
 Contributions to investment pool                                                      $     309,585,632
 Investment income                                                                             1,425,898
      Total Additions                                                                        311,011,530

DEDUCTIONS:
 Distributions from investment pool                                                          311,113,919
       Total Deductions                                                                      311,113,919

       Total Change in Net Assets                                                               (102,389)

Net Assets - Beginning                                                                        59,088,549

Net Assets - Ending                                                                    $      58,986,160




               The accompanying notes are an integral part of these financial statements.
                                                 37

								
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