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Schedule 1

CITY OF MYRTLE BEACH, SOUTH CAROLINA NET ASSETS BY COMPONENT Last Eight Fiscal Years (Accrual Basis of Accounting)

$

16,879,255 $ 19,544,239

28,513,438 $ 19,990,360

41,885,142 18,832,653

$

3,206,768 39,630,262 $

(38,382,577) 10,121,221 $

(37,813,548) 22,904,247

(2) Governmental Activities Invested in Capital Assets, Net of Related Debt Restricted Unrestricted Total Governmental Activities Net Assets

(1)

2003

Fiscal Year 2004

2005

Business-Type Activities

Invested in Capital Assets, Net of Related Debt Restricted Unrestricted

Total Business-Type Activities Net Assets

103,909,146 $

111,130,130 $

115,181,644

5,039,353

5,038,312

4,230,018

6,154,981

4,041,601

5,965,513

115,103,480 $

120,210,043 $

125,377,175

$

$

Primary Government Invested in Capital Assets, Net of Related Debt Restricted Unrestricted Total Primary Government Net Assets

120,788,401 $

139,643,568 $

157,066,786

24,583,592

25,028,672

23,062,671

9,361,749

(34,340,976)

(31,848,035)

154,733,742 $

130,331,264 $

148,281,422

$

$

Notes: The City began to report accrual information when it implemented GASB Statement 34 in fiscal year 2003.

  • (1)

    In 2007, the City implemented the retroactive general infrastructure reporting provisions of GASB Statement 34.

  • (2)

    In 2004, the City made a $42,443,983 payment to the Myrtle Beach Convention Center Hotel Corporation, a

component unit. The payment was used to extinguish a portion of the component unit's revenue bonds.

UNAUDITED

  • -

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