WCFD Balance Sheet 2011

From the Audit Report year end 12/31/2011   (less the one year ago)

FINANCIAL HIGHLIGHTS
The assets of Wasatch County Fire District exceeded the liabilities as of the close of the most recent
year by $5,204,218 (net assets). Of this amount $2,708,577 (unrestricted net assets) may be used to meet
the government’s ongoing obligations to citizens and creditors.

In the General Fund, revenues exceeded expenditures by $359,284. Transfers totaling $850,000 were made to the other funds. Of this amount, $550,000 was transferred to the Enterprise Fund. The
transfer to the Enterprise Fund will help with the costs of providing fire protection and emergency
response within the Jordanelle Basin which have not been covered by charges for services. The
remaining $300,000 was transferred to the Capital Projects Fund to be used for future capital
acquisitions and improvements.

At the close of the fiscal year, the unassigned fund balance of the General Fund totaled $509,556 or 49% of the total General Fund revenues. State statutes allow a maximum unreserved fund balance of 100% of the current year’s property tax of $925,814.

In the Enterprise Fund there was a reduction of the outstanding capital lease obligation for the
Jordanelle Fire Station of $1,450,000.

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The balance of net assets of $2,708,577 is unrestricted and may be used to meet the government’s ongoing obligations to citizens and creditors.

As of December 31, 2011, the District is able to report positive balances in all categories of net assets, both for the government as a whole, as well as for the separate business‐type activities.
Government‐wide Activities Charges for services have remained relatively consistent in Wasatch County Fire District.
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The District also receives revenues from Jordanelle Basin property owners for