Page 67 - 2018 Comprehensive Annual Financial Report - City of Winston-Salem

City of Winston-Salem, North Carolina
Statement of Net Position – Proprietary Funds
June 30, 2018 Exhibit 6
Enterprise Funds Internal
Water and Solid Waste Transit Non-Major Service
Sewer Utility Disposal Authority Funds Total Funds
Assets
Current Assets
Cash & cash equivalents/investments $ 79,700,734 $ 17,558,868 $ 11,676 $ 30,946,822 $ 128,218,100 $ 60,482,961
Receivables for uncollectibles
Taxes, net - - 78,876 - 78,876 -
Accounts, net 13,797,214 373,978 89,302 1,075,713 15,336,207 4,557
Assessments, net 188,028 - - - 188,028 -
Total receivables 13,985,242 373,978 168,178 1,075,713 15,603,111 4,557
Due from other governments 7,875 58,161 6,843,100 431,585 7,340,721 -
Inventories 3,418,314 - 301,380 - 3,719,694 1,286,618
Total current assets 97,112,165 17,991,007 7,324,334 32,454,120 154,881,626 61,774,136
Noncurrent Assets
Restricted assets
Cash & cash equivalents/investments 84,227,027 18,511,991 - 81,921 102,820,939 -
Capital assets
Land 16,873,288 12,450,797 2,236,412 12,785,969 44,346,466 801,682
Construction in progress 173,210,034 973,537 3,303,002 8,530,377 186,016,950 1,696,679
Other capital assets, net of
accumulated depreciation 684,985,764 25,474,087 20,650,413 84,311,500 815,421,764 5,121,595
Accounts receivables - - - 500,000 500,000 -
Total noncurrent assets 959,296,113 57,410,412 26,189,827 106,209,767 1,149,106,119 7,619,956
Total assets 1,056,408,278 75,401,419 33,514,161 138,663,887 1,303,987,745 69,394,092
Deferred Out ows of Resources
Pension deferrals 2,348,635 408,397 - 666,963 3,423,995 880,945
Charge on refunding 26,328,722 - - - 26,328,722 -
Total deferred out ows of resources 28,677,357 408,397 - 666,963 29,752,717 880,945
Liabilities
Current Liabilities
Accounts payable 15,980,421 577,160 304,276 1,456,934 18,318,791 2,318,952
Accrued payroll 538,420 61,383 - 111,430 711,233 200,899
Accrued vacation 306,392 36,495 623,610 79,008 1,045,505 293,991
Employee taxes and amounts withheld - - - - 733,964
Accrued interest payable 1,420,025 - - 37,273 1,457,298 -
Due to other funds - - 3,733,108 - 3,733,108 -
Unearned revenue 2,600 - 79,659 1,332,015 1,414,274 493,888
Land ll closure and postclosure costs - 3,091,660 - - 3,091,660 -
Pollution remediation - - - 1,986,124 1,986,124 -
Current maturities
Claims payable - - - - - 4,852,016
Contracts payable 5,746,631 599,148 - 2,176,345 8,522,124 904,873
Bonds payable 24,425,000 715,000 - 1,118,693 26,258,693
Total current liabilities 48,419,489 5,080,846 4,740,653 8,297,822 66,538,810 9,798,583
Noncurrent Liabilities
Contracts payable from restricted assets 6,405,917 - - - 6,405,917 -
Accrued vacation 746,825 78,004 - 164,962 989,791 159,221
Net pension liability 2,890,776 489,336 - 807,117 4,187,229 1,064,646
Net OPED liability 1,835,281 199,761 - 390,022 2,425,064 666,363
Land ll closure and postclosure costs - 15,420,331 - - 15,420,331 -
Claims payable - - - - - 4,208,389
Contracts payable 75,436,376 1,234,647 - 15,391,583 92,062,606 1,450,958
Bonds payable 426,641,564 5,394,400 - 19,180,968 451,216,932 -
Derivative instrument 13,092,412 - - - 13,092,412 -
Total noncurrent liabilities 527,049,151 22,816,479 - 35,934,652 585,800,282 7,549,577
Total liabilities 575,468,640 27,897,325 4,740,653 44,232,474 652,339,092 17,348,160
Deferred In ows of Resources
Pension deferrals 250,772 - - 26,715 277,487 121,815
OPEB deferrals 607,438 66,116 - 129,089 802,643 220,551
Charge on refunding 354,555 - - - 354,555 -
Accumulated decrease in fair value
of hedging derivatives 8,583,629 - - - 8,583,629 -
Total deferred in ows of resources 9,796,394 66,116 - 155,804 10,018,314 342,366
Net Position
Net investment in capital assets 382,312,859 30,955,226 26,189,827 67,760,257 507,218,169 5,264,125
Unrestricted 117,507,742 16,891,149 2,583,681 27,182,315 164,164,887 47,320,386
Total net position $ 499,820,601 $ 47,846,375 $ 28,773,508 $ 94,942,572 671,383,056 $ 52,584,511
Adjustment to re ect the consolidation of internal service fund activities related to enterprise funds 40,044,710
Net position of business-type activities $ 711,427,766
The accompanying notes are an integral part of the nancial statements.

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