NASHUA AIRPORT AUTHORITY
NOTES TO FINANCIAL STATEMENTS (CONTINUED)
For the Year Ended June 30, 2021
the services that are the primary activities of the Authority. All revenues and expenses not meeting this
definition are reported as non-operating revenues and expenses.
Capital Contributions - Funds received from other governments for the purpose of constructing assets are
recorded as capital contributions.
NOTE 2—DEPOSITS AND INVESTMENTS
Deposits and investments as of June 30, 2021 are classified in the accompanying financial statements as
follows:
Statement of Net Position:
Cash and cash equivalents $ 541,873
Investments 237,378
Total deposits and investments $ 779,251
Deposits and investments at June 30, 2021 consist of the following:
Cash on hand $ 200
Deposits with financial institutions 779,051
Total deposits and investments § 779,251
The Authority’s investment policy requires that deposits and investments be made in New Hampshire based
financial institutions that are participants in one of the federal depository insurance programs. The Authority
limits its investments to demand deposits, money market accounts, and certificates of deposit.
Custodial Credit Risk
Custodial credit risk for deposits is the risk that in the event of a bank failure, the Authority’s deposits may
not be returned. The Authority does not have a formal investment policy for assurance against custodial
credit risk.
The Authority’s entire balance of deposits with financial institutions at year end was covered by federal
depository insurance.
NOTE 3—CAPITAL ASSETS
The following is a summary of changes in capital assets during the year ended June 30, 2021:
Balance Balance
7/1/2020 Additions Reductions 6/30/2021
Capital assets not being depreciated:
Land $ 4,026,795 $ 4,026,795
Construction in progress 212,886 $ 2,165,536 2,378,422
Total capital assets not being depreciated 4,239,681 2,165,536 § : 6,405,217
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