Laserfiche WebLink
Note 12. RESERVES AND DESIGNATED FUND EQUITY (Continued) <br />The following designations of unreserved fund equity have been made at <br />December 31, 1991: <br />General Fund - <br />Compensated absences <br />Working capital <br />Debt Service Funds - <br />Debt service <br />General Fund - <br />Compensated absences designation for $104,493 represents the estimated <br />long -term liability for compensated absences. <br />Working capital designation for $865,672 provides for cash flow needs <br />based on the level of intergovernmental revenue received by the City <br />this year. <br />Debt Service Funds - <br />Debt service designation for $1,316,945 is designated for future <br />payment of principal and interest on general obligation long -term debt. <br />Note 13. ENTERPRISE FUND INFORMATION <br />The City maintains a Water and Sewer Enterprise Fund. A schedule of <br />changes in contributed capital during 1991 is as follows: <br />Total Contributed capital, January 1, 1991 <br />Add current capital contributions <br />Total Contributed Capital, December 31, 1991 <br />Since there is only one Enterprise Fund, all segment information pertinent <br />to the fund is reflected in the financial statements. <br />Note 14. FUND CHANGES <br />The following funds were created during the fiscal year ended December 31, <br />1991: <br />Special RtsvP.nue Funds <br />CITY OF RAMSEY, <br />NOTES TO FINANCIAL <br />December 31, <br />Community Tree Planting Grant <br />Sealcoating <br />Street Lighting <br />MINNESOTA <br />STATEMENTS <br />1991 <br />104,493 <br />865, 672 <br />970,165 <br />1,316,945 <br />$4,244,566 <br />131,545 <br />$4,376,111 <br />