|
CITY OF RAMSEY
<br />Notes to Financial Statements (continued)
<br />December 31, 2002
<br />NOTE 11- SEGMENT INFORMATION FOR ENTERPRISE FUNDS
<br />The City provides services which are accounted for in the Enterprise Funds. The segment information for
<br />these Enterprise Funds for the year ended December 31, 2002 is as follows:
<br />Storm -
<br />Water Sewer Street Recycling water
<br />Utility Utility Light Utility Utility Total
<br />Operating revenue $ 573,788 $ 609,790 $ 113,545 $ 171,386 $ 332,026 $ 1,800,535
<br />Depreciation expense $ 281,013 $ 215,657 $ 15,724 $ - $ 60,886 $ 573,280
<br />Operating income $ 19,662 $ 63,604 $ 55,223 $ 4,002 $ 208,846 $ 351,337
<br />Operating transfers (out) $ (13,000) $ (8,500) $ (5,500) $ (4,500) $ (4,500) $ (36,000)
<br />Net income $ 2,231,259 $ 1,878,458 $ 119,430 $ 838 $ 1,526,373 $ 5,756,358
<br />Current capital
<br />contributions $ 217,421 $ 132,661 $ - $ - $ 195,261 $ 545,343
<br />Property, plant, and
<br />equipment - additions $ 2,237,617 $ 1,640,947 $ 60,610 $ - $ 1,515,999 $ 5,455,173
<br />Net working capital $ 4,683,532 $ 2,648,545 $ 287,104 $ 83,599 $ 247,271 $ 7,950,051
<br />Total assets $ 16,652,959 $ 11,603,340 $ 542,487 $ 83,599 $ 3,152,920 $ 32,035,305
<br />Total equity $ 16,602,413 $ 11,591,255 $ 520,325 $ 83,599 $ 3,150,851 $ 31,948,443
<br />NOTE 12 - TAX INCREMENT FINANCING DISTRICTS
<br />The City is the administering authority for the following tax increment financing district:
<br />Development District I
<br />TIF TIF TIF TIF TIF
<br />District District District District District
<br />No. 1 No. 2 No. 4 No. 6 No. 7
<br />Economic
<br />Redevelop- Redevelop- Redevelop- Develop- Redevelop-
<br />Type of district ment ment ment ment ment
<br />Chapter 472A 472A 472A 469 472A
<br />Established 8/27/1985 6/30/1986 8/11/1987 9/15/1995 1/25/2000
<br />Duration 1985/2010 1986/2012 1987/2013 1995/2006 2000/2015
<br />Tax capacity
<br />Adjusted original $ 19,589 $ 304,235 $ 59,222 $ I1,573 $ 10,122 $ 404,741
<br />Fiscal disparities deduction - - - 157,267 11,545 168,812
<br />Current tax capacity 590,159 1,151,592 211,306 466,310 47,286 2,466,653
<br />Captured tax capacity $ 570,570 $ 847,357 $ 152,084 $ 297,470 $ 25,619 $ 1,893,100
<br />The City has also established TIF District's No. 8 through 10. District's No. 8 and 9 are chapter 472A
<br />redevelopment type districts while TIF District No. 10 is a chapter 469 economic development type
<br />district. As of December 31, 2002, the captured tax capacity on these districts is $0.
<br />-31-
<br />Total
<br />
|