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COUNTY OF HAWAII
<br /> Proprietary Funds
<br /> Statement of Net Assets
<br /> June 30,2007
<br /> Business-type Activities-
<br /> Enterprise Funds
<br /> Kulaimano Ouli Ekahi
<br /> Elderly Affordable
<br /> Housing Housing
<br /> Project Project Total
<br /> Assets
<br /> Current assets:
<br /> Cash and cash equivalents(note 3) $ 112,276 $ 169,907 $ 282,183
<br /> Restricted cash and cash equivalents(note 3) 10,625 22,009 32,634
<br /> Investments(note 3) 700,000 - 700,000
<br /> Imprest fund(note 3) 50 100 150
<br /> Receivables(note 4) 8,280 51,960 60,240
<br /> Prepaid expenses 1,369 - 1,369
<br /> Total current assets 832,600 243,976 1,076,576
<br /> Noncurrent assets:
<br /> Restricted cash and cash equivalents(note 3) 183,832 14,753 198,585
<br /> Capital assets(note 6):
<br /> Land and site improvements 511,000 503,877 1,014,877
<br /> Buildings and equipment 1,230,504 - 1,230,504
<br /> Less accumulated depreciation (939,118 - (939,118)
<br /> Total capital assets 802,386 503,877 1,306,263
<br /> Total noncurrent assets 986,218 518,630 1,504,848
<br /> Total assets 1,818,818 762,606 2,581,424
<br /> Liabilities
<br /> Current liabilities:
<br /> Accounts payable 53,947 356,124 410,071
<br /> Internal balances(note 5) 2,700 - 2,700
<br /> Due to developer - 7,729 7,729
<br /> Security deposits payable from restricted assets 10,625 20,590 31,215
<br /> Deferred revenue(note 7) 1,345 1,513 2,858
<br /> Notes payable,current portion(note 10) 24,994 - 24,994
<br /> Total current liabilities 93,611 385,956 479,567
<br /> Noncurrent liabilities:
<br /> Notes payable(note 10) 970,860 - 970,860
<br /> Total liabilities 1,064,471 385,956 1,450,427
<br /> Net Assets
<br /> Invested in capital assets,net of related debt (193,468) 503,877 310,409
<br /> Restricted for debt service 183,832 - 183,832
<br /> Unrestricted 763,983 (127,227) 636,756
<br /> Total net assets $ 754,347 $ 376,650 $ 1,130,997
<br /> See accompanying notes to the basic financial statements.
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