2000 CAFR - Laserfiche WebLink

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Water Utility Fund The Water Utility Fund is used to account for the activities of the City-owned water system. During 2000, water improvements totaling $709,787, financed by special assessments and contributions from developers, were completed and capitalized in the Water Fund. This contribution to the Fund has been recorded as contributed capital within the fund equity section of the balance sheet. Future expansion of the distribution system, supported by contributions by developers and special assessments, will be recorded in the same manner and depreciated accordingly. The following is a summary of the operations of the fund for 2000 and 1999, respectively: Sewer Utility Fund Operating revenues Operating expenses 2000 1999 $ 514,986 $ 424,842 408,265 396,566 Operating income $ 106,721 $ 28,276 Fund Equity consisted of the following on December 31, 2000, compared to the prior year: 2000 1999 Contributed capital $ 8,749,748 $ 8,331,949 Contributed capital reserved for future construction 2,614,671 2,310,866 Retained earnings 322,821 (70,986) Total fund equity $ 11,687,240 $ $10,571,829 The Sewer Utility Fund is used to account for the activities of the City-owned sewer system. During 2000, sewer improvements totaling $479,823, financed by special assessments and contributions from developers, were completed and capitalized in the Sewer Fund. This contribution to the Fund has been recorded as contributed capital within the fund equity section of the balance sheet. Future expansion of the distribution system, supported by contributions by developers and special assessments, will be recorded in the same manner and depreciated accordingly. The following is a summary of the operations of the fund for 2000 and 1999, respectively: Operating revenues Operating expenses Operating income (loss) $ (52,240) $ 10,681 xv 2000 1999 $ 483,628 $ 503,217 535,868 492,536