8331_NewGloucester_2021-2022_AnnualReport_Web

Town of New Gloucester

Excerpted Financial Statements

Balance Sheet Governmental Funds As of June 30, 2021

Statement 3

Other

Total

General

TIF

Governmental Governmental

Fund

District

Funds

Funds

Assets Cash

$ 4,680,270 138,036 523 106,148 4,426 Ͳ

$ 1,121,373 Ͳ Ͳ Ͳ Ͳ Ͳ

$ 1,906,278 Ͳ Ͳ Ͳ Ͳ 12,303

$ 7,707,921 138,036 523 106,148 4,426 12,303

Accounts receivable, net

Taxes receivable Liens receivable Prepaid expenses

Due from other funds

Total Assets

$ 4,929,403

$ 1,121,373

$ 1,918,581

$ 7,969,357

Liabilities, Deferred Inflows of Resources, and Fund Balances Liabilities Accounts payable

$ 53,356 16,536 12,303 82,195

Ͳ $ Ͳ Ͳ Ͳ

Ͳ $ Ͳ Ͳ Ͳ

$ 53,356 16,536 12,303 82,195

Accrued expenses Due to other funds

Total liabilities

Deferred Inflows Prepaid taxes

24,365 89,000 113,365

Ͳ Ͳ Ͳ

Ͳ Ͳ Ͳ

24,365 89,000 113,365

Unavailable prop tax Total deferred inflows

Fund Balance Nonspendable

4,426 Ͳ 2,913 500,000 4,226,504 4,733,843

Ͳ 1,121,373 Ͳ Ͳ Ͳ 1,121,373

Ͳ 136,201 1,782,380 Ͳ Ͳ 1,918,581

4,426 1,257,574 1,785,293 500,000 4,226,504 7,773,797

Restricted Committed

Assigned

Unassigned

Total fund balances

Total Liabilities, Deferred Inflows of Resources, and Fund Balances

$ 1,121,373

$ 1,918,581

$ 7,969,357

$ 4,929,403

These excerpted financial statements do not provide complete information of the Town’s activities and financial position. Refer to the complete set of financial statements and required note disclosures for more information.

57