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CITY OF RAMSEY
<br />Notes to Financial Statements (continued)
<br />December 31, 1999
<br />NOTE 5 -LONG-TERM DEBT (CONTINUED)
<br />° Liability for Compensated Absences -The liability represents vested benefits earned by
<br />Governmental Fund employees through the end of the year which will be paid or used in future
<br />periods.
<br />NOTE 6 -PROPRIETARY FUNDS' CONTRIBUTED CAPITAL
<br />Contributed capital balances in the Proprietary Funds represent the cost of property or the amount of capital
<br />contributed to the funds by other City funds. Changes in contributed capital during 1999 are as follows:
<br />Components of
<br />Contributed Ca~,ital
<br />Balance Reserved
<br />Beginning Balance End For Future
<br />of Year Additions of Year iJnreserved construction Total
<br />Water Utility $ 10,193,098 $ 449,717 $ 10,642,815 $ 8,331,949 $ 2,310,866 $ 10,642,815
<br />Sewer Utility 8,449,264 226,047. 8,675,311 8,140,270 535,041 8,675,311
<br />Street Light 122.183 2.700 124.883 124,883 - 124,883
<br />$ 18,764,545 $ 678,464 $ 19,443,009 $ 16,597,102 $ 2,845,907 $ 19,443,009
<br />NOTE 7 -INDIVIDUAL FUND DISCLOSURES
<br />A. Fund Deficits
<br />The following funds have a fund balance/retained earnings deficit at December 31, 1999:
<br />Debt Service Funds
<br />1996A Tax Increment Refunding Bonds $ 375
<br />Capital Project Funds
<br />Section 22 Drainage District $ 12,931
<br />Senior Housing $ 8,535
<br />Mississippi Drainage District $ 32,185
<br />Rum River Drainage District $ 9,804
<br />Enterprise Funds
<br />Water Utility $ 70,986
<br />Sewer Utility $ 50,210
<br />The City intends to fund these deficits through future tax levies, special assessments levies, tax increments,
<br />transfers from other funds, grants, utility revenues, and various other sources.
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