HUMAN SERVICES OF
FARIBAULT & MARTIN COUNTIES
FAIRMONT, MINNESOTA
STATEMENT OF NET ASSETS
DECEMBER 31, 2008
Governmental
$ Activities
Assets
Petty Cash and Change Funds $ 39
Accounts Receivable - Net 434,007
Due from Other Governments 889,109
Prepaid Items 24,304
Capital Assets - Net of Depreciable Equipment $ 95,196
Total Assets $ 1,442,655
Liabilities
Checks Written in Excess of Cash in Bank $ 47,752
Accounts Payable 423,028
Salaries Payable 206,206
Accrued Liabilities 34,640
Due to Other Governments 34,097
Deferred Revenue - Unearned 287,737
Compensated Absences Payable - Due Within One Year 394,672
Capital Leases Payable - Due Within One Year 21,247
Compensated Absences Payable - Due in More Than One Year 204,875
Capital Leases Payable - Due in More Than One Year $ 44,984
Total Liabilities 1,699,238
Net Assets
Invested in Capital Assets - Net of Related Debt 28,965
Unrestricted $ (285,548)
Total Net Assets $ (256,583)
BALANCE SHEET - GOVERNMENTAL FUND
DECEMBER 31, 2008
$ General
Assets
Petty Cash and Change Funds $ 39
Accounts Receivable 434,007
Due from Other Governments 889,109
Prepaid Items $ 24,304
Total Assets $ 1,347,459
Liabilities and Fund Balances
Check Written in Excess of Cash in Bank $ 47,752
Accounts Payable 423,028
Salaries Payable 206,206
Accrued Payroll Taxes 34,640
Due to Other Governments 34,097
Deferred Revenue - Unavailable 375,231
Deferred Revenue - Unearned $ 287,737
Total Liabilities 1,408,691
Fund Balances (Deficit)
Unreserved, Undesignated $ (61,232)
Total Liabilities and Fund Balances $ 1,347,459
STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE - GOVERNMENTAL FUND
YEAR END DECEMBER 31, 2008
General
Revenues
Licenses and Permits $ 30,827
Intergovernmental 10,625,109
Charges for Services 668,076
Investment on Investments 19,553
Miscellaneous $ 431,205
Total Revenues $ 11,774,770
Expenditures
Current
Human Services $ 7,707,887
Health 4,085,602
CAPITAL OUTLAY
Human Services 70,464
Health 23,279
Debt service
Principal 27,151
Interest $ 2,317
Total Expenditures $ 11,916,700
excess of revenues over expenditures (141,930)
other financing sources
Proceeds from Capital Lease $ 43,500
Net Change in Fund Balance (98,430)
Fund Balance - Beginning of Year 37,198
Fund Balance (deficit) - End of Year $ (61,232)
STATEMENT OF ACTIVITIES
YEAR ENDED DECEMBER 31, 2008
Program Revenues
Net (Expense)
Operating Revenues and
Fees, Charges, Grants and Changes in
Expenses Fines & Other Contributions Net Assets
Functions/Programs
Primary Government
Governmental Activities
Human Services $ 7,795,727 $ 234,918 $ 5,009,186 $ (2,551,623)
Health 4,113,958 723,035 1,880,921 (1,510,002)
Interest $ 2,317 $ - $ - $ (2,317)
Total Governmental $ 11,912,002 $ 957,953 $ 6,890,107 (4,063,942)
General Revenues
Grants and Contributions not Restricted to Specific Programs 3,676,901
Unrestricted Investment Earnings 19,553
Miscellaneous $ 202,648
Total General Revenues $ 3,899,102
Change in net assets (164,840)
Net Assets - Beginning of Year $ (91,743)
Net Assets - END OF YEAR $ (256,583)
