Laserfiche WebLink
CITY OF RAMSEY <br />Notes to Financial Statements (continued) <br />December 31, 2001 <br />NOTE 14 — DEPOSITS PAYABLE <br />Platting and performance deposits are accounted for in the City's Escrow Expendable Trust Fund. A <br />summary of the 2001 changes in deposits is as follows: <br />Total deposits payable January 1, 2001 $ 168,926 <br />Add deposits received 177,454 <br />Less payments from deposit account (122,983) <br />Total deposits payable December 31, 2001 $ 223,397 <br />NOTE 15 — RESERVES AND DESIGNATED FUND EQUITY <br />The following reservations of fund equity have been made at December 31, 2001: <br />General Fund <br />Fund balance reserved for prepaid items $ 50,669 <br />Debt Service Fund <br />2000A Capital Equipment Certificates <br />Fund balance reserved for prepaid items $ 67,259 <br />Expendable Trust Funds <br />Landfill Trust <br />Fund balance reserved for <br />advances to other funds $ 650,610 <br />Enterprise Funds <br />Water Utility <br />Contributed capital reserved <br />for future construction $ 2,899,567 <br />Sewer Utility <br />Contributed capital reserved <br />for future construction $ 737,971 <br />The General and Debt Service Fund reservations for prepaid items is made because prepayments are not <br />current financial resources. <br />The Landfill Trust Fund reservation for advances to other funds is made because advances are not current <br />financial resources. <br />The Water and Sewer Utility reservations are for future construction and are from assessments for <br />elevated water storage and future oversizing of water and sewer lines. <br />-33- <br />