Statement of Net Assets

Financial Statements

The Water Authority received its 12th consecutive award from the Government Finance Officers Association for financial reporting excellence, and its 14th consecutive award from the California Society for Municipal Finance Officers for excellence in budgeting. The Water Authority also won an award from the Association of Public Treasurers for excellence in financial reporting and disclosure.

The Notes are an integral part of the financial statements. Click here to review the Water Authority’s Comprehensive Annual Financial Report which includes all required disclosures.

Statement of
Net Assets
  2012 2011
Assets:    
Current Assets:    
Cash and investments 92,738,002 98,323,388
Restricted cash and investments 378,779,007 432,115,952
Water receivables 92,669,911 65,275,869
Interest receivable 2,001,570 2,843,116
Taxes receivable 1,652,574 1,571,611
Other receivables 3,680,354 4,049,449
Inventories 19,104,989 20,695,962
Prepaid expenses 4,637,389 4,638,014
Total current assets 595,263,796 629,513,361
Noncurrent Assets:    
Cash and investments 92,308,322 75,230,446
Restricted cash and Investments 123,218,484 192,445,361
Deferred charges 0 282,190
Advances to other agencies 469,372 85,879
Retention receivable 845,665 958,905
Long-term loan receivables 20,688,268 20,688,268
Unamortized bond issuance costs 14,019,007 16,931,743
Capital assets:    
Non-depreciable 666,671,993 546,837,987
Depreciable 2,425,075,015 2,435,022,195
Total noncurrent assets 3,343,296,126 3,288,482,974
Total assets 3,938,559,922 3,917,996,335
Liabilities:    
Current Liabilities:    
Accounts payable and other liabilities 81,979,092 70,026,215
Interest payable 20,511,068 18,709,310
Construction deposits 314,498 192,366
Short-term liabilities 360,000,000 460,000,000
Current portion of long-term liabilities 35,717,263 34,018,207
Total current liabilities 498,521,921 582,946,098
Noncurrent Liabilities:    
Long-term liabilities 2,096,310,693 2,040,638,522
Total liabilities 2,594,832,614 2,623,584,620
Net Assets:    
Invested in capital assets, net of related debt 990,856,054 976,570,300
Restricted for construction projects (expendable) 133,157,019 121,172,255
Restricted for debt service (expendable) 675,910 586,217
Unrestricted 219,038,325 196,082,943
Total net assets 1,343,727,308 1,294,411,715