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ASSETS
<br />Current Assets:
<br />Cash and investments $ 2,190,565 $ 1,266,206
<br />Accounts receivable 201,481 50,450
<br />Inventories, water meters 1,348 82,450
<br />Total Current Assets 2,393,394 1,399,106
<br />Property and Equipment, at Cost:
<br />Buildings and structures 748,631 748,631
<br />Machinery and equipment 34,452 26,657
<br />Water lines 4,283,194 3,256,117
<br />5,066,277 4,031,405
<br />Less accumulated depreciation 569,448 470,266
<br />Net Property and Equipment 4,496,829 3,561,139
<br />Total Assets $ 6,890,223 $ 4,960,245
<br />LIABILITIES AND FUND EQUITY
<br />CITY OF RAMSEY, MINNESOTA Exhibit F -4
<br />WATER UTILITY FUND
<br />COMPARATIVE BALANCE SHEET
<br />As of December 31, 1995 and 1994
<br />1995 1994
<br />Liabilities:
<br />Accounts payable $ 7,603 $ 1,472
<br />Due to other governmental units 877 2,871
<br />Deposits payable, water meters 102,573
<br />Total Liabilities 8,480 106,916
<br />Fund Equity:
<br />Contributed capital 5,031,825 4,004,748
<br />Contributed capital reserved for future construction 1,741,449 857,994
<br />Total Contributed Capital 6,773,274 4,862,742
<br />Retained earnings (deficit)
<br />Unreserved 108,469 (9,413)
<br />Total Fund Equity 6,881,743 4,853,329
<br />Total Liabilities and Fund Equity $ 6,890,223 $ 4,960,245
<br />—73—
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