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Enterprise Funds (continued); <br />Sewer Utility Fund: <br />The Sewer Utility Fund is used to account for the activities of the City-owned sewer system. During 1995, <br />sewer improvements totaling $2,025,984, financed by special assessments and contributions from <br />developers, were completed and capitalized in the Sewer Fund. This contribution to the Fund has been <br />recorded as contributed capital with the fund equity section of the balance sheet. Future expansion of the <br />distribution system, supported by contributions by developers and special assessments, will be recorded in <br />the same manner and depreciated accordingly. <br />The following is a summary of the operations of the fund for 1995 and 1994, respectively: <br />Fund Equity consisted of the following on December 31, 1995, compared to the prior year: <br />1995 1994 <br />Contributed Capital $ 6,360,031 $ 4,334,047 <br />Contributed Capital Reserved For Future <br />Construction 483,459 236,208 <br />Retained Earnings (Deficit) ( 214.859) ( 176.487) <br />Total Fund Equity $ 6.628.631 $ 4.393.768 <br />Street Light Fund: <br />Operating Revenues <br />Operating Expenses <br />Operating Loss <br />FINANCIAL SECTION (continued) <br />1995 1994 <br />$ 199,864 $ 150,565 <br />271.680 161.433 <br />$ ( 71.816) $ ( 10.868) <br />The Street Light Fund is used to account for all street lighting revenues and expenses for the City-owned <br />street lights within subdivisions. <br />The following is a summary of the operations of the fund for 1995 and 1994, respectively: <br />1995 1924 <br />Operating Revenues $ 29,254 $ 20,782 <br />Operating Expenses 15,668 10.105 <br />Operating Income $ 13.586 $ 10.677 <br />Fund Equity consisted of the following on December 31, 1995, compared to the prior year: <br />Contributed Capital <br />Retained Earnings <br />Total Fund Equity <br />1995 1994 <br />$ 80,868 $ 45,693 <br />49.467 17,532 <br />$ 130.335 $ 63.225 <br />