Laserfiche WebLink
HEWETT-KIER CONSTRUCTION, INC. <br /> NOTES TO FINANCIAL STATEMENTS <br /> FOR THE YEAR ENDED DECEMBER 31, 1998 <br /> NOTE 8. CREDIT RISK AND FAIR VALUE OF FINANCIAL INSTRUMENTS <br /> Credit Risk <br /> The Company performs its contracts for federal, state, and local governmental agencies <br /> throughout Florida. In the normal course of business, the Company extends unsecured <br /> credit to these customers. There have been no significant losses from uncollectible <br /> contract balances. <br /> Fair Value of Financial Instruments <br /> The carrying amounts of cash and cash equivalents, investments, receivables and <br /> accounts payable approximate fair values due to the short-tens maturities of these <br /> instruments. _ <br /> NOTE 9. CONCENTRATION RISK <br /> ® The Company maintains significant balances, which exceeded federal deposit insurance <br /> limitations by $1,820,000 at December 31, 1998. The Company has not experienced any <br /> losses in such accounts. <br /> 10 <br /> owe-uncut • crnnur.w - LA'ro<AT . STEIN & COMPNdY <br />