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CITY OF SOUTH BEND
<br />NOTES TO FINANCIAL STATEMENTS
<br />(Continued)
<br />Primary Government
<br />Business -type activities:
<br />Revenue bonds payable:
<br />Water Utility
<br />Wastewater Utility
<br />Blackthorn Golf Course
<br />Total revenue
<br />bonds payable
<br />Mortgage bonds payable
<br />Capital leases payable
<br />Notes and loans payable
<br />Total business -type activities
<br />long -term liabilities
<br />Due
<br />Beginning Ending Within
<br />Balance Additions Reductions Balance One Year
<br />$ 22,665,000 $ - $ 2,135,000 $ 20,530,000 $
<br />3,905,000 11,425,000 705,000 14,625,000 1,150,000
<br />5,055,000 - 395,000 4,660,000 430,000
<br />31,625,000 11,425,000 3,235,000 39,815,000 1,580,000
<br />1,099,005 - 40,590 1,058,415 42,435
<br />794,885 - 274,496 520,389 235,927
<br />21,338,647 1,739,765 1,348,141 21,730,271 1,294,500
<br />$ 54,857,537 $13,164,765 $ 4,898,227 $ 63,124,075 $ 3,152,862
<br />Compensated absences for governmental activities typically have been liquidated from the
<br />general fund and special revenue funds. All of the business -type compensated absences as of
<br />December 31, 2004, $563,260 is due within one year.
<br />H. Segment Information
<br />The primary government issued revenue bonds to finance Blackthorn Golf Course improvements.
<br />Investors in the revenue bonds rely solely on the revenue generated by the individual activities for
<br />repayment. Summary financial information for the Blackthorn Golf Course is presented below.
<br />Total assets $ 4,694,900
<br />Liabilities:
<br />Current liabilities $ 971,952
<br />Current liabilities payable from restricted assets 501,450
<br />Noncurrent liabilities 4,020,729
<br />Total liabilities $ 5,494,131
<br />Net assets:
<br />Invested in capital assets, net of related debt $ (1,588,144)
<br />Restricted 1,257,919
<br />Unrestricted (469,006)
<br />Total net assets $ (799,231)
<br />M
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