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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 />Sewer, Street Light, Recycling, 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 />ENTERPRISE FUNDS FINANCIAL POSITION
<br />The following table summarizes the changes in the financial position of the City's enterprise funds during
<br />the year ended December 31, 2019, presented both by classification and by fund:
<br />Enterprise Funds Change in Financial Position
<br />Net Position
<br />as of December 31,
<br />2019 2018
<br />Change
<br />Net position of enterprise funds
<br />Total by classification
<br />Net investment in capital assets $ 55,575,211 $ 53,653,338 $ 1,921,873
<br />Unrestricted 46,993,793 43,024,292 3,969,501
<br />Total enterprise funds $ 102,569,004 $ 96,677,630 $ 5,891,374
<br />Total by fund
<br />Water Utility $ 52,913,246 $ 49,832,678 $ 3,080,568
<br />Sewer Utility 31,986,824 30,823,058 1,163,766
<br />Street Light Utility 1,922,241 1,853,352 68,889
<br />Recycling Utility 422,225 405,416 16,809
<br />Storm Water Utility 15,324,468 13,763,126 1,561,342
<br />Total enterprise funds $ 102,569,004 $ 96,677,630 $ 5,891,374
<br />In total, the net position of the City's enterprise funds increased by $5,891,374 as presented in the table
<br />above. Intergovernmental revenue, connection fees, and capital contributions recognized, along with
<br />positive operating results, contributed to the total overall increase in net position within the City's
<br />enterprise funds.
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