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CITY OF RAMSEY <br />Notes to Financial Statements (continued) <br />December 31, 1999 <br />NOTE 15 -RESERVES AND DESIGNATED FUND EQUITY (CONTINUED) <br />The General Fund reservation for prepaid items is made because prepayments are not current financial <br />resources. <br />The Water and Sewer Utility reservations are for future construction and are from assessments for elevated <br />water storage and future oversizing of water and sewer lines. <br />The following designations of unreserved fund equity have been made at December 31, 1999: <br />General Fund <br />Compensated absences $ 212,445 <br />Working capital $ 1,999,795 <br />Debt Service Funds <br />1992B Improvement Bonds <br />Designated for debt service $ 106 <br />1999A Senior Housing Bonds <br />Designated for debt service $ 28,603 <br />1999A Lease Revenue Bonds <br />Designated for debt service $ 156,039 <br />Capital Project Funds <br />' Public Improvement Revolving <br />Designated for street <br />maintenance program $ 171,511 <br />The General Fund compensated absences designation represents the estimated long-term liability for <br />compensated absences. <br />The General Fund working capital designation provides for cash flow needs based on an amount equal to <br />50% of the General Fund budgeted operating expenditures for the upcoming year less amounts reserved for <br />prepaid items. <br />The Debt Service Funds designation represents fund balances which are presently committed to provide <br />financial resources to pay principal and interest on the City's bonded debt. <br />The Capital Project Funds designation is for annual street maintenance programs. <br />-33- <br />