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CITY OF ORONO, MINNESOTA <br />Golf Course Operating Fund <br />Comparative Balance Sheet <br />As of December 31, 1998 and 1997 <br />Assets <br />Current assets <br />-87- <br />Exhibit F-IO <br />1998 1997 <br />Cash and temporary investments $ 265,924 $ 224,816 <br />Accounts receivable 605 25 <br />Inventory 2,065 2,410 <br />Total current assets 268,594 227,251 <br />Property, plant, and equipment <br />Land and improvements 243,585 219,236 <br />Buildings and improvements 62,257 62,257 <br />Equipment 119,656 119,656 <br />Work in progress 1,000 — <br />426,498 401,149 <br />Less accumulated depreciation 98,546 83,138 <br />Net property, plant, and equipment 327,952 318,011 <br />Total assets S 596.546 S 545.262 <br />Liabilities and Fund Equity <br />Current liabilities <br />Accounts payable S 1,562 S 8,629 <br />Salaries and compensated absences payable 658 1,035 <br />Total current liabilities 2,220 9,664 <br />Long-term liabilities, less current portion <br />Compensated absences payable 8,670 7,773 <br />Total liabilities 10,890 17,437 <br />Fund equity <br />Contributed capital 130,151 130,804 <br />Retained earnings 455,505 397,021 <br />Total fund equity 585,656 527,825 <br />Total liabilities and fund equity S 596.546 S 545.262 <br />I <br />I