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ASSETS
<br />CITY OF RAMSEY, MINNESOTA Exhibit F -7
<br />SEWER UTILITY FUND
<br />COMPARATIVE BALANCE SHEET
<br />As of December 31, 1995 and 1994
<br />1995 1994
<br />Current Assets:
<br />Cash and investments $ 732,613 $ 398,805
<br />Accounts receivable 122,555 55,484
<br />Due from other governmental units 136 -
<br />Other assets 11,155 9,786
<br />Total Current Assets 866,459 464,075
<br />Property and Equipment, at Cost:
<br />Machinery and equipment 199,028 194,557
<br />Sewer lines 6,169,376 4,143,392
<br />6,368,404 4,337,949
<br />Less accumulated depreciation 525,533 395,885
<br />Net Property and Equipment 5,842,871 3,942,064
<br />Total Assets $ 6,709,330 $ 4,406,139
<br />LIABILITIES AND FUND EQUITY
<br />Liabilities:
<br />Accounts payable $ 3,349 $ 21
<br />Due to other governmental units 77,350 12,350
<br />Total Liabilities 80,699 12,371
<br />Fund Equity:
<br />Contributed capital 6,360,031 4,334,047
<br />Contributed capital reserved for future construction 483,459 236,208
<br />Total Contributed Capital 6,843,490 4,570,255
<br />Retained earnings (deficit)
<br />Unreserved (214,859) (176,487)
<br />Total Fund Equity 6,628,631 4,393,768
<br />Total Liabilities and Fund Equity $ 6,709,330 $ 4,406,139
<br />—76—
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