| TOWN OF CARY, NORTH CAROLINA |
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| UTILITY SYSTEMS
ENTERPRISE FUND |
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| SUB-FUND
COMBINING STATEMENT OF REVENUES, EXPENSES, |
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| AND CHANGES IN FUND NET
ASSETS |
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| For the Year Ended June
30, 2009 |
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| With
Comparative Totals For the Year Ended June 30, 2008 |
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| Schedule 9 |
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Utility System |
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Water |
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Sewer |
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Utility System |
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June 30, |
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Operations |
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Projects |
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Projects |
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Capital Reserve |
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2009 |
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2008 |
| OPERATING REVENUES |
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| Charges for Services |
$45,313,297 |
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--- |
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--- |
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--- |
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45,313,297 |
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45,734,955 |
| Other Operating Revenues |
1,226,354 |
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--- |
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--- |
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--- |
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1,226,354 |
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1,730,140 |
| Prop Oper Rev |
--- |
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--- |
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--- |
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--- |
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--- |
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--- |
| Prop Oper Rev |
--- |
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--- |
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--- |
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--- |
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--- |
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--- |
| Prop Oper Rev |
--- |
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--- |
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--- |
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--- |
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--- |
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--- |
| TOTAL OPERATING REVENUES |
46,539,651 |
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--- |
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--- |
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--- |
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46,539,651 |
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47,465,095 |
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| OPERATING EXPENSES |
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| Administrative |
6,627,063 |
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--- |
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--- |
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--- |
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6,627,063 |
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6,926,508 |
| Water Conservation |
485,489 |
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--- |
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--- |
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--- |
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485,489 |
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424,236 |
| Pretreatment |
315,774 |
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--- |
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--- |
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--- |
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315,774 |
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331,697 |
| Field Operations |
6,529,047 |
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--- |
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--- |
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--- |
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6,529,047 |
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5,914,792 |
| Utility Systems
Maintenance |
2,499,549 |
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--- |
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--- |
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--- |
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2,499,549 |
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2,424,433 |
| Water Reclamation
Facilities |
9,227,918 |
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--- |
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--- |
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--- |
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9,227,918 |
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8,610,671 |
| Cary/Apex Water
Treatment Plant |
4,742,147 |
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4,742,147 |
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4,404,566 |
| Miscellaneous Utility
System Projects |
--- |
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332,869 |
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409,618 |
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--- |
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742,487 |
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643,843 |
| Depreciation |
10,050,865 |
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--- |
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--- |
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--- |
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10,050,865 |
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9,370,631 |
| Prop Oper Exp |
--- |
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--- |
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--- |
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| Prop Oper Exp |
--- |
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--- |
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--- |
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--- |
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--- |
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| TOTAL OPERATING EXPENSES |
40,477,852 |
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332,869 |
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409,618 |
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--- |
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41,220,339 |
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39,051,377 |
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| OPERATING INCOME (LOSS) |
6,061,799 |
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(332,869) |
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(409,618) |
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--- |
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5,319,312 |
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8,413,718 |
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| NONOPERATING REVENUES
(EXPENSES) |
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| Water and Sewer
Development Fees |
--- |
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11,366,709 |
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11,366,709 |
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18,174,990 |
| Investment Earnings, net
of market adjustment |
1,934,001 |
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--- |
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34,984 |
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4,567,176 |
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6,536,161 |
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9,554,573 |
| General Obligation Bonds Issued |
--- |
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--- |
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--- |
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--- |
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--- |
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| Restricted
Intergovernmental Revenue |
--- |
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--- |
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--- |
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--- |
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--- |
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217,760 |
| Reimbursements |
76,904 |
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--- |
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--- |
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--- |
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76,904 |
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122,109 |
| Miscellaneous Revenue |
90,064 |
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--- |
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3,100 |
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--- |
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93,164 |
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237,012 |
| Prop Nonoper Rev |
--- |
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--- |
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--- |
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| Principal payments **s/b $0** |
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| Interest Expense, net of
amount capitalized |
(3,433,595) |
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--- |
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(3,433,595) |
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(3,421,101) |
| Bond Service Expense |
(76,699) |
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(76,699) |
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(56,886) |
| Bond Refunding Loss |
(243,609) |
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--- |
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--- |
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(243,609) |
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(220,223) |
| Developer Fee Credits Issued |
--- |
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--- |
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--- |
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| Sale of Capital Assets |
64,942 |
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--- |
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64,942 |
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33,214 |
| Morrisville Agreement |
--- |
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| Prop Nonoper Exp |
--- |
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| Prop Nonoper Exp |
--- |
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--- |
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| TOTAL NONOPERATING
REVENUE (EXPENSE) |
(1,587,992) |
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--- |
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38,084 |
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15,933,885 |
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14,383,977 |
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24,641,448 |
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| INCOME (LOSS) BEFORE
TRANSFERS |
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| AND CAPITAL CONTRIBUTIONS |
4,473,807 |
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(332,869) |
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(371,534) |
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15,933,885 |
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19,703,289 |
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33,055,166 |
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| Capital Contributions |
21,858,752 |
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--- |
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--- |
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--- |
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21,858,752 |
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19,428,150 |
| Transfers In |
--- |
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--- |
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--- |
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--- |
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39,440 |
| Transfers Out |
(1,000,000) |
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--- |
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(1,000,000) |
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(12,246,686) |
| Transfers Between
Sub-Funds |
(1,973,555) |
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11,520,589 |
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18,587,363 |
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(28,134,397) |
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--- |
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| Other (Prop) |
--- |
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--- |
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| Special items |
--- |
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--- |
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--- |
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| Extraordinary items |
--- |
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--- |
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--- |
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| CHANGE IN NET ASSETS, Before Special Item |
23,359,004 |
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11,187,720 |
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18,215,829 |
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(12,200,512) |
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40,562,041 |
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40,276,070 |
| SPECIAL ITEM -
Morrisville Merger |
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| CHANGE IN NET ASSETS |
23,359,004 |
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11,187,720 |
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18,215,829 |
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(12,200,512) |
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40,562,041 |
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40,276,070 |
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| TOTAL NET ASSETS -
Beginning of Year |
295,475,163 |
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34,024,916 |
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72,291,202 |
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51,519,784 |
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453,311,065 |
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413,034,995 |
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| Reclassifications: |
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| Reclassification of Grant
Received |
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(350,000) |
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350,000 |
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| Reclassification of
Long-term Debt & Other Liabilities |
(26,619,073) |
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26,629,860 |
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(10,787) |
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| Reclassification of
Capital Assets Transferred |
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| from
Construction-in-Progress |
3,345,830 |
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(144,469) |
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(3,201,361) |
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| TOTAL NET ASSETS - End
of Year |
$
295,560,924 |
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44,718,167 |
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113,935,530 |
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39,658,485 |
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493,873,106 |
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453,311,065 |
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