TOWN OF CARY, NORTH CAROLINA
UTILITY SYSTEMS ENTERPRISE FUND
SUB-FUND COMBINING STATEMENT OF NET ASSETS
June 30, 2009
With Comparative Totals for June 30, 2008
Schedule 8
	Utility System		Water		Sewer		Utility System		June 30,
	Operations		Projects		Projects		Capital Reserve		2009		2008
ASSETS
Current Assets
Equity in Pooled Cash and Investments	$42,626,059		38,331,438		52,807,711		44,858,896		178,624,104		154,483,571
Accrued Interest on Investments	369,016		---		---		1,045,681		1,414,697		1,409,063
Accounts Receivable, net of allowance for     doubtful accounts	6,837,899		612,732		329,603		112,402		7,892,636		8,742,901
Due from Other Funds	---		---		---		---		---		---
Inventories	---		---		---		---		---		---
Miscellaneous Prepayment	---		---		---		---		---		---
Restricted Cash - Unspent Debt Proceeds	---		---		---		---		---		---
Restricted Cash - Customer Deposits	---		---		---		---		---		---
Equity in Pooled Cash and Investments-Restricted	1,270,684		---		16,192,143		---		17,462,827		3,127,430
Asset	---		---		---		---		---		---
Asset	---		---		---		---		---		---
TOTAL CURRENT ASSETS	51,103,658		38,944,170		69,329,457		46,016,979		205,394,264		167,762,965
Non-Current Assets
Deferred Bond Expenses	1,327,354		---		---		---		1,327,354		1,089,376
Long-term Notes Receivable	---		---		---		---		---		---
Assessments Receivable	---		---		---		---		---		---
Noncurrent asset (PF only)	---		---		---		---		---		---
Noncurrent asset (PF only)	---		---		---		---		---		---
Noncurrent asset (PF only)	---		---		---		---		---		---
TOTAL NONCURRENT ASSETS	1,327,354		---		---		---		1,327,354		1,089,376
Capital Assets
Land, Land Improvements and
Construction in Progress	17,476,862		5,928,146		45,852,829		---		69,257,837		64,705,204
Other Capital Assets, Net of Accumulated Depreciation	373,681,708		---		---		---		373,681,708		356,454,567
Water and Sewer Distribution System-NOT USED	---		---		---		---		---		---
Building, Equipment and Vehicles-NOT USED	---		---		---		---		---		---
Construction-in-Progress-NOT USED	---		---		---		---		---		---
TOTAL CAPITAL ASSETS, NET	391,158,570		5,928,146		45,852,829		---		442,939,545		421,159,771
TOTAL ASSETS	443,589,582		44,872,316		115,182,286		46,016,979		649,661,163		590,012,112
LIABILITIES AND NET ASSETS
Current liabilities
Accounts Payable and Accrued Liabilities	1,230,070		135,456		853,237		2,557		2,221,320		2,705,198
Compensated Absences	---		---		---		---		---		---
Due from Other Funds	(465,700)		---		---		---		(465,700)		(582,774)
Debt Payable	6,821,941		---		---		---		6,821,941		6,862,580
Accrued Debt Interest Payable	673,713		---		---		---		673,713		1,009,793
Retainage Payable	---		18,693		393,519		---		412,212		557,115
Deferred Revenues	---		---		---		497,066		497,066		473,669
Compensated Absences	660,009		---		---		---		660,009		691,570
Developer Fee Credits	---		---		---		887,089		887,089		1,674,478
Morrisville Merger Debt	352,099		---		---		---		352,099		365,349
Purchased Capacity Liability	113,838		---		---		---		113,838		110,281
Miscellaneous	---		---		---		---		---		617,621
Liability	---		---		---		---		---		---
Liability	---		---		---		---		---		---
TOTAL CURRENT LIABILITIES	9,385,970		154,149		1,246,756		1,386,712		12,173,587		14,484,880
Non-Current liabilities
Compensated Absences	120,790		---		---		---		120,790		46,656
Deposits	1,269,742		---		---		---		1,269,742		1,270,861
Deferred Revenue	1,390,104		---		---		---		1,390,104		1,467,008
Debt Payable, net of deferred loss on refunding	126,189,433		---		---		---		126,189,433		110,404,145
Installment Purchase Payable	---		---		---		---		---		---
State Revolving Loan Payable	---		---		---		---		---		---
Deferred Bond Premium	5,136,551		---		---		---		5,136,551		616,720
Purchased Capacity Liability	238,792		---		---		---		238,792		352,630
Developer Fee Credits	---		---		---		4,111,162		4,111,162		3,850,340
Morrisville Merger Debt	1,698,385		---		---		---		1,698,385		2,050,484
Unfunded Other Post-Employment Benefits	2,598,891		---		---		---		2,598,891		1,296,703
Miscellaneous	---		---		---		860,620		860,620		860,620
Noncurrent liability (PF only)	---		---		---		---		---		---
TOTAL OTHER LIABILITIES	138,642,688		---		---		4,971,782		143,614,470		122,216,167
TOTAL LIABILITIES	148,028,658		154,149		1,246,756		6,358,494		155,788,057		136,701,047
NET ASSETS - to hide all but TOTAL line
Net Assets - Capital net of debt	---		---		---		---		---		---
Net Assets - restricted (PF)	---		---		---		---		---		---
Net Assets - restricted (PF)	---		---		---		---		---		---
Unrestricted Net Assets	295,560,924		44,718,167		113,935,530		39,658,485		493,873,106		453,311,065
TOTAL NET ASSETS	295,560,924		44,718,167		113,935,530		39,658,485		493,873,106		453,311,065
TOTAL LIABILITIES AND NET ASSETS	$443,589,582		44,872,316		115,182,286		46,016,979		649,661,163		590,012,112