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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 include 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. We understand that the City is proactive in reviewing these activities
<br />on an ongoing basis and we want to reiterate the importance of continually monitoring these operations.
<br />Over 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, 2020, presented both by classification and by fund:
<br />Enterprise Funds Change in Financial Position
<br />Net Position
<br />as of December 31,
<br />2020 2019
<br />Change
<br />Net position of enterprise funds
<br />Total by classification
<br />Net investment in capital assets $ 56,166,921 $ 55,575,211 $ 591,710
<br />Unrestricted 44,568,513 46,993,793 (2,425,280)
<br />Total enterprise funds $ 100,735,434 $ 102,569,004 $ (1,833,570)
<br />Total by fund
<br />Water Utility $ 52,736,670 $ 52,913,246 $ (176,576)
<br />Sewer Utility 30,186,399 31,986,824 (1,800,425)
<br />Street Light Utility 1,738,463 1,922,241 (183,778)
<br />Recycling Utility 430,956 422,225 8,731
<br />Storm Water Utility 15,642,946 15,324,468 318,478
<br />Total enterprise funds $ 100,735,434 $ 102,569,004 $ (1,833,570)
<br />In total, the net position of the City's enterprise funds decreased by $1,833,570 as presented in the table
<br />above. The current year decrease was due to the approved transfer of $6,362,000 to governmental funds
<br />in the current year. The majority of this transfer was to finance a portion of the new public works campus.
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