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<br /> f . 9
<br /> Exhibit 7
<br /> BALANCE SHEET-
<br /> CHAPEL HILL-ORANGE COUNTY-CARRBORO LANDFILL
<br /> JUNE 30, 1997 WITH COMPARATIVE TOTALS AT JUNE 30, 1996
<br /> 1997 1996
<br /> ASSETS
<br /> CURRENT ASSETS:
<br /> Cash and cash equivalentsAnvestments $ 5,002,861 $ 3,744,086
<br /> Other 285,322 342,260
<br /> Total current assets 5,288,183 4,086,346
<br /> PROPERTY AND EQUIPMENT:
<br /> Land,land improvements and buildings 4,468,229 4,343,630
<br /> Equipment 2,728,653 2,933,134
<br /> Construction in progress 98,367
<br /> â7,796,79-Tâ 7,375,131
<br /> Less accumulated depreciation (2,716,905) (2,473,138)
<br /> 4,479,977 4,901,993
<br /> TOTAL ASSETS $ 9,768,160 S 8,988,339
<br /> LIABILITIES AND FUND EQUITY
<br /> CURRENT LIABILITIES:
<br /> Accounts payable $ 1301090 $ 123,159
<br /> Accrued liabilities 44,655 34,895
<br /> Total current liabilities 174,745 158,054
<br /> LONGTERM DEBT 1,948,111 1,749,022
<br /> Total liabilities 2,122,856 1,907,076
<br /> FUND EQUITY:
<br /> Contributed capital 279,850 279,850
<br /> Retained earnings 7,365,454 6,801,413
<br /> Total fund equity 7,645,304 7,081,263
<br /> TOTAL LIABILITIES AND FUND EQUITY $ 9,768,160 $ 8,988,339
<br /> STATEMENT OF CHANGES IN RETAINED EARNINGS-
<br /> CHAPEL HILL-ORANGE COUNTY-CARRBORO LANDFILL
<br /> YEARS ENDED JUNE 30, 1997 AND 1996
<br /> Income transferred to retained earnings. $ 564,041 $ 398,722
<br /> Retained earnings,beginning of year 6,801,413 6,402,691
<br /> Retained earnings,end of year $ 7,365,454 $ 6,801,413
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