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ENTERPRISE FUNDS OVERVIEW
<br />The City maintains several enterprise funds to account for services the City provides that are financed
<br />primarily through fees charged to those utilizing the service. This section of the report provides you with
<br />an overview of the financial trends and activities of the City’s enterprise funds, which includes the Water
<br />Utility, Sewer Utility, Street Light Utility, Recycling Utility, and Storm Water Utility Funds.
<br />The utility funds comprise a considerable portion of the City’s activities. These funds help to defray
<br />overhead and administrative costs and provide additional support to general government operations by
<br />way of annual transfers. We understand that the City is proactive in reviewing these activities on an
<br />ongoing basis and we want to reiterate the importance of continually monitoring these operations. Over
<br />the years, we have emphasized to our city clients the importance of these utility operations being
<br />self-sustaining, preventing additional burdens on general governmental funds. This would include the
<br />accumulation of net position for future capital improvements and to provide a cushion in the event of a
<br />negative trend in operations.
<br />EFFP
<br />NTERPRISEUNDSINANCIAL OSITION
<br />The following table summarizes the changes in the financial position of the City’s enterprise funds during
<br />the year ended December 31, 2014, presented both by classification and by fund:
<br />Enterprise Funds Change in Financial Position
<br />Net Position
<br />as of December 31,
<br />Increase
<br />(Decrease)
<br />20142013
<br />Net position of enterprise funds
<br />Total by classification
<br />Net investment in capital assets50,427,367$ 50,494,576$ (67,209)$
<br />Unrestricted30,915,832 28,969,730 1,946,102
<br />$ 79,464,30681,343,199$ 1,878,893$
<br />Total – enterprise funds
<br />Total by fund
<br />Water Utility41,291,148$ 40,111,622$ 1,179,526$
<br />Sewer Utility27,138,024 26,756,476 381,548
<br />Street Light Utility1,717,792 1,660,540 57,252
<br />Recycling Utility380,483 327,622 52,861
<br />Storm Water Utility10,815,752 10,608,046 207,706
<br />$ 79,464,30681,343,199$ 1,878,893$
<br />Total – enterprise funds
<br />In total, the net position of the City’s enterprise funds increased by $1,878,893 during the year ended
<br />December 31, 2014. Capital contribution receipts and positive operating results contributed to the total
<br />overall increase in enterprise funds. Depreciation expense on capital assets in excess of current year
<br />additions reduced the overall net investment in capital assets in enterprise fund operations.
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