TOWN OF CARY, NORTH CAROLINA
UTILITY SYSTEMS ENTERPRISE FUND
SUB-FUND COMBINING STATEMENT OF NET ASSETS
June 30, 2006
With Comparative Totals for June 30, 2005
Schedule 8
	Utility System		Water		Sewer		Utility System		June 30,
	Operations		Projects		Projects		Capital Reserve		2006		2005
ASSETS
Current Assets
Equity in Pooled Cash and Investments	$32,031,766		22,183,036		16,553,909		51,756,179		122,524,890		109,834,727
Accrued Interest on Investments	243,967		---		---		742,539		986,506		660,587
Accounts Receivable, net of allowance for         doubtful accounts	8,919,903		669,897		1,139,651		323,741		11,053,192		8,767,115
Due from Other Funds	---		---		---		---		---		---
Inventories	---		---		---		---		---		---
Miscellaneous Prepayment	---		---		---		---		---		---
Restricted Cash - Unspent Debt Proceeds	---		---		---		---		---		---
Restricted Cash - Customer Deposits	---		---		---		---		---		---
Equity in Pooled Cash and Investments-Restricted	1,191,106		---		---		---		1,191,106		1,155,119
Asset	---		---		---		---		---		---
Asset	---		---		---		---		---		---
TOTAL CURRENT ASSETS	42,386,742		22,852,933		17,693,560		52,822,459		135,755,694		120,417,548
Non-Current Assets
Deferred Bond Expenses	920,953		---		---		---		920,953		991,776
Long-term Notes Receivable	---		---		---		---		---		4,977,911
Assessments Receivable	---		---		---		---		---		---
Noncurrent asset (PF only)	---		---		---		---		---		---
Noncurrent asset (PF only)	---		---		---		---		---		---
Noncurrent asset (PF only)	---		---		---		---		---		---
TOTAL NONCURRENT ASSETS	920,953		---		---		---		920,953		5,969,687
Capital Assets
Land, Land Improvements and Construction-in-Progress	13,623,740		2,205,802		22,109,265		---		37,938,807		50,043,687
Other Capital Assets, Net of Accumulated Depreciation	324,113,847		---		---		---		324,113,847		251,376,618
Water and Sewer Distribution System-NOT USED	---		---		---		---		---		---
Building, Equipment and Vehicles-NOT USED	---		---		---		---		---		---
Construction-in-Progress-NOT USED	---		---		---		---		---		---
TOTAL CAPITAL ASSETS, NET	337,737,587		2,205,802		22,109,265		---		362,052,654		301,420,305
TOTAL ASSETS	381,045,282		25,058,735		39,802,825		52,822,459		498,729,301		427,807,540
LIABILITIES AND NET ASSETS
Current liabilities
Accounts Payable and Accrued Liabilities	999,533		265,605		2,065,677		---		3,330,815		3,349,156
Compensated Absences	---		---		---		---		---		496,650
Due to Other Funds	(170,103)		---		---		---		(170,103)		139,833
Debt Payable	6,897,063		---		---		---		6,897,063		6,650,301
Accrued Debt Interest Payable	1,234,361		---		---		---		1,234,361		1,080,634
Retainage Payable	---		75,282		501,746		---		577,028		1,272,770
Deferred Revenues	---		158,612		---		907,200		1,065,812		1,949,879
Liability	---		---		---		---		---		---
Liability	---		---		---		---		---		---
TOTAL CURRENT LIABILITIES	8,960,854		499,499		2,567,423		907,200		12,934,976		14,939,223
Non-Current liabilities
Compensated Absences	621,852		---		---		---		621,852		44,599
Deposits	1,155,140		---		---		---		1,155,140		713,616
Deferred Revenue - Capacity Charges	---		---		---		---		---		3,916,134
Debt Payable, net of deferred loss on refunding	100,887,297		---		---		---		100,887,297		104,739,995
Installment Purchase Payable	---		---		---		---		---
State Revolving Loan Payable	---		---		---		---		---		---
Deferred Bond Premium	158,060		---		---		---		158,060		168,175
Purchased Capacity Liability	673,245		---		---		---		673,245		773,509
Developer Fee Credits	---		---		---		4,579,020		4,579,020		4,147,966
Claims Incurred But Not Reported	---		---		---		---		---		---
Morrisville Merger Debt	3,187,686		---		---		---		3,187,686		---
Miscellaneous	---		---		---		860,620		860,620		856,445
Noncurrent liability (PF only)	---		---		---		---		---		---
Noncurrent liability (PF only)	---		---		---		---		---		---
TOTAL OTHER LIABILITIES	106,683,280		---		---		5,439,640		112,122,920		115,360,439
TOTAL LIABILITIES	115,644,134		499,499		2,567,423		6,346,840		125,057,896		130,299,662
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	265,401,148		24,559,236		37,235,402		46,475,619		373,671,405		297,507,878
TOTAL NET ASSETS	$265,401,148		24,559,236		37,235,402		46,475,619		373,671,405		297,507,878
TOTAL LIABILITIES AND NET ASSETS	$381,045,282		25,058,735		39,802,825		52,822,459		498,729,301		427,807,540