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CITY OF RAMSEY, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31,1997
<br />Note 14. RESERVES AND DESIGNATED FUND EQUITY (continued)
<br />General Fund -
<br />Compensated absences designation for $182,291 represents the estimated long-term liability for
<br />compensated absences.
<br />Working capital designation for $1,610,135 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
<br />for prepaid items.
<br />Debt Service Funds -
<br />Debt Service designation represents fund balances which are presently committed to provide financial
<br />resources to pay principal and interest on the City's bonded debt.
<br />Capital Project Funds -
<br />Capital project designation for $171,511 is designated for approved 1998 street maintenance programs.
<br />' Note 15. ENTERPRISE FUND INFORMATION
<br />The City maintains Water Utility, Sewer Utility, Street Light, and Recycling Utility Enterprise Funds. A
<br />schedule of changes in contributed capital during 1997 is as follows:
<br />Water Sewer Street
<br />Utility Utility Light. Total
<br />Contributed capital, January 1, 1997 8,348,825 7,745,721 107,983 16,202,529
<br />Add current capital contributions 740,168 348,298 10,000 1,098,466
<br />Less contributed capital deletions (622,251) (188,272) - (810,523)
<br />Contributed Capital, December 31,1997 $8,466,742 $7,905,747 $117,983 $16,490,472
<br />Segment information pertinent to the enterprise funds is reflected below:
<br />Water Sewer Street Recycling
<br />Utility Utility Light Utility Total
<br />Operating Revenue $ 348,331 $ 326,705 $ 53,710 $ 102,008 $ 830,754
<br />Depreciation Expense $ 150,800 $ 155,600 $ 7,951 $ - $ 314,351
<br />Operating Income $ 40,093 $ 1,792 $ 16,806 $ 26,468 $ 85,159
<br />Operating Transfers (Out) $ (7,000) $ (4,000) $ (1,500) $ (1,000) $ (13,500)
<br />Net Income $ 151,026 $ 30,850 $ 19,768 $ 25,829 $ 227,473
<br />Property, Plant, and
<br />Equipment Additions $ 740,168 $ 353,346 $ 19,503 $ - $ 1,113,017
<br />Net Working Capital $ 2,700,296 $ 946,850 $ 76,985 $ 56,942 $ 3,781,073
<br />Total Assets $ 8,956,827 $ 7,799,726 $ 233,383 $ 58,685 $ 17,048,621
<br />Total Equity $ 8,948,191 $ 7,766,903 $ 210,616 $ 56,942 $ 16,982,652
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