SCMTD February 2004 Board of Directors Agendas - Santa Cruz ...

SANTA CRUZ METROPOLITAN TRANSIT DISTRICT
STATEMENTS OF NET ASSETS (Continued)
JUNE 30,2003 AND 2002
LIABILITIES AND NET ASSETS
CURRENT LIABILITIES
Accounts Payable and Accrued Liabilities
Accrued Payroll and Employee Benefits
Other Accrued Liabilities
Security Deposit
Deferred Revenue
2003 2002
$ 879,522 $ 706,378
2,682,972 2,616,256
3,078,408 3,072,181
15,714 14,514
21,872 338,233
Total Current Liabilities 6,678,488 6,747,562
LIABILITIES PAYABLE FROM RESTRICTED ASSETS
Deferred Revenue - Settlement Agreement
Deferred Revenue - STA Grant
6,758,106 6,625,124
1,267,855 235,473
LONG-TERM LIABILITIES
Workers’ Compensation Liabilities 2,869,840 2.869,840
Total Liabilities 17,574,289 16,477,999
NE-T-ASSETS
Invested in Capital Assets, Net of Related Debt 30,922,252
Unrestricted Net Assets 13,708,371
20,636,417
16,612,343
Total Net Assets 44,630,623 37,248,760
TOTAL LIABILITIES AND NET ASSETS $ 62,204,912 $ 53,726,759
The accompanying notes are an integral part of these financial statements.
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