CONSOLIDATED STATEMENT OF FINANCIAL POSITION*
DECEMBER 31, 2005
ASSETS
| Current
Assets: |
|
| Cash and
cash equivalents |
$ 147,568 |
|
Restricted cash |
62,351 |
| Investments |
2,101 |
|
Accounts receivable:
|
|
|
- Grant |
104,519 |
|
- Program service fees |
5,622 |
|
- Related party |
305,535 |
|
- Other accounts receivable |
67,421 |
| Prepaid expenses |
7,981 |
|
Total current assets |
703,098 |
| |
|
|
Buildings and equipment, net |
3,947,123 |
| |
|
| Other
Assets: |
|
|
- Deposits |
2,500 |
|
- Investment - other |
310,652 |
|
- Accounts receivable - related party |
52,054 |
|
- Loans receivable - related party |
528,500 |
| |
|
| Properties in development |
5,000 |
| |
|
|
Total other assets |
898,706 |
| Total
Assets |
5,548,927 |
LIABILITIES AND NET ASSETS
| Current Liabilities:
|
|
| Accounts payable
|
$ 150,727 |
| Accrued liabilities |
68,152 |
| Refundable Advance |
63,225 |
| Current portion of notes
payable |
419,721 |
| Line of Credit |
100,000 |
| Security deposits |
25,784 |
|
Total current liabilities |
827,609 |
| Long-term Liabilities:
|
|
| Notes payable - net of
current portion |
3,809,321 |
|
Total liabilities |
4,636,930 |
| Net
Assets: |
|
| Unrestricted |
|
| - Undesignated |
842,354 |
| - Designated for major repair reserve |
36,120 |
| Total unrestricted |
878,474 |
| Temporarily restricted
|
33,523 |
| Total net assets |
911,997 |
|
Total net assets |
911,997 |
| Total
Liabilities and Net Assets |
5,548,927 |
*These statements were independently audited by Plante & Moran, PLLC.
|
|
