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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 31,2021,presented both by classification and by fund:
<br /> Enterprise Funds Change in Financial Position
<br /> Net Position
<br /> as of December 31,
<br /> 2021 2020 Change
<br /> Net position of enterprise funds
<br /> Total by classification
<br /> Net investment in capital assets $ 57,940,442 $ 56,166,921 $ 1,773,521
<br /> Unrestricted 48,126,205 44,568,513 3,557,692
<br /> Total enterprise funds $ 106,066,647 $ 100,735,434 $ 5,331,213
<br /> Total by fund
<br /> Water Utility $ 55,720,428 $ 52,736,670 $ 2,983,758
<br /> Sewer Utility 31,436,866 30,186,399 1,250,467
<br /> Street Light Utility 1,752,929 1,738,463 14,466
<br /> Recycling Utility 425,477 430,956 (5,479)
<br /> Storm Water Utility 16,730,947 15,642,946 1,088,001
<br /> Total enterprise funds $ 106,066,647 $ 100,735,434 $ 5,331,213
<br /> In total, the net position of the City's enterprise funds increased by $5,331,213 as presented in the table
<br /> above. The current year increase was due to capital contributions received and positive operating results
<br /> in total for the enterprise funds.
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