5584-R1_NewGloucester_2017AnnualReport_Web

STATEMENT A

TOWN OF NEW GLOUCESTER, MAINE STATEMENT OF NET POSITION JUNE 30, 2017

Governmental Activities

ASSETS

Current assets: Cash and cash equivalents

$

5,924,987

Accounts receivable (net of allowance for uncollectibles): Taxes

26,413 184,475 51,037 55,892

Liens Other

Due from other governments

Total current assets

6,242,804

Noncurrent assets: Capital assets: Land and other assets not being depreciated

955,673 5,316,285 6,271,958

Buildings and equipment, net of accumulated depreciation

Total noncurrent assets

TOTAL ASSETS

12,514,762

DEFERRED OUTFLOWS OF RESOURCES Deferred outflows related to pensions TOTAL DEFERRED OUTFLOWS OF RESOURCES

365,001 365,001

TOTAL ASSETS AND DEFERRED OUTFLOWS OF RESOURCES

12,879,763 $

LIABILITIES Current liabilities:

Accounts payable Accrued expenses

$

16,924 12,474 216,774 246,172

Current portion of long-term obligations

Total current liabilities

Noncurrent liabilities: Noncurrent portion of long-term obligations: Net pension liability

610,031 610,031

Total noncurrent liabilities

TOTAL LIABILITIES

856,203

DEFERRED INFLOWS OF RESOURCES Prepaid taxes

16,701 138,849 147,874 303,424

Deferred revenues

Deferred inflows related to pensions

TOTAL DEFERRED INFLOWS OF RESOURCES

NET POSITION Net investment in capital assets Restricted: Special revenue funds

6,131,958 474,237 5,104,539 11,720,136 9,402

Capital projects funds

Unrestricted

TOTAL NET POSITION

TOTAL LIABILITIES, DEFERRED INFLOWS OF RESOURCES AND NET POSITION

12,879,763 $

See accompanying independent auditors' report and notes to financial statements. 11

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