1994 CAFR - Laserfiche WebLink

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Enterprise Funds (continued) JF1WAN C ITAIi, SUMMARY, (Continued) Street Light Fund: The Street Light Fund is used to account for all street lighting revenues and expenses for the City -owned street lights within subdivisions. The following is a summary of the operations of the fund for 1994 and 1993, respectively: 1994 1993 Operating Revenues $ 20,782 $ 7,241 Operating Expenses 10.105 6.929 Operating Income (Loss) $ 10,677 $ 312 Fund Equity consisted of the following on December 31, 1994, compared to the prior year: 1994 1993 Contributed Capital $ 51,361 $ 43,916 Retained Earnings (Deficit) 11,864 ( 49) Total Fund Equity $ 63,225 $ 43,867 Trust and Agency Funds: Trust and Agency Funds are used to account for assets held by the City in a trustee or agent capacity for individuals, private organizations, other governments, or other funds. The City's trust funds are all classified as expendable trust funds. The trust funds and agency funds are accounted for in essentially the same manner as governmental funds. Expendable Trust Funds - Expendable trust funds are funds whose original principal and income may be expended in the course of designated operations. Landfill Trust Fund: The Landfill Trust Fund is maintained by the City to account for certain landfill related revenues to be used for expenditures the City may incur relating to the landfill or for improvements providing a benefit to the entire City, such as park development. The fund balance on December 31, 1994, was $3,408,010, compared to $3,106,372 on December 31, 1993. This represents an increase of $301,638. Escrow Fund: The Escrow Trust Fund is maintained by the City to account for deposits held for specific purposes from developers, contractors, builders, residents, or the like, for platting, professional fees, performance bonds, and miscellaneous deposits. On December 31, 1994, the City held $182,099 in escrow deposits compared to $195,281 at December 31, 1993. xvii