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Exhibit 1
<br />City of Louisville, Colorado
<br />Statement of Net Assets
<br />December 31, 2008
<br />Primary Governmen
<br />t
<br />GovernmentalBusiness-typPrior Yea
<br />er
<br />ctivitiesctivitiesTotalTotal
<br />AA
<br />Assets
<br />Cash and cash equivalents22,940,308$ 13,521,952$ 36,462,260$ 34,070,502$
<br />Restricted Cash- 1,030,617 1,030,617 916,878
<br />Receivables (net)
<br />Property Taxes -2,814,500 2,814,500 2,805,125
<br />Sales and Use Taxes1,079,627 - 1,079,627 1,100,017
<br />Interest 138,835 90,932 229,767 95,504
<br />Intergovernmental46,358 - 46,358 10,392
<br />Other 252,508 420,681 673,189 339,512
<br />Inventories14,429 58,375 72,804 113,934
<br />Prepaid expenses152,810 21,876 174,686 45,541
<br />Deferred charges129,134 10,657 139,791 161,022
<br />Capital assets:
<br />Land, improvements, and water rights 34,737,80330,552,187 65,289,990 63,779,437
<br />Other capital assets, net of depreciation56,501,95740,192,04796,694,004 97,782,959
<br /> Total assets114,622,65390,084,940204,707,593 201,220,823
<br />Liabilities
<br />Accounts payable and accrued expenses2,045,641 513,154 2,558,795 1,907,134
<br />Deferred revenue2,849,440 13,618 2,863,058 2,854,248
<br />Noncurrent liabilities:
<br />Due within one year751,114 1,369,564 2,120,678 2,051,719
<br />Due in more than one yea7,791,63813,509,86021,301,498 23,352,789
<br />r
<br /> Total liabilities13,437,83315,406,19628,844,029 30,165,890
<br />Net assets
<br />Invested in capital assets, net of related debt79,066,972 60,205,842 139,272,814 137,070,116
<br />Restricted for:
<br />Emergency reserves602,901 - 602,901 714,510
<br />Debt service and operating reserves - 1,030,617 1,030,617 916,878
<br /> Library debt service 478,404 - 478,404 324,504
<br />Library construction111,976 - 111,976 143,616
<br />Northwest Parkway improvements414,364 - 414,364 1,364,031
<br />Land acquisition7,467,700 - 7,467,700 6,947,822
<br />Permanently Restricted for: -
<br />Permanent fund - perpetual care613,857 - 613,857 624,678
<br />13,442,28525,870,931 22,948,778
<br />Unrestricted 12,428,646
<br />Total net assets$101,184,820$74,678,744$175,863,564 171,054,933$
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<br />The notes to the financial statements are an integral part of this statement.
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