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CITY OF RAMSEY, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 1996
<br />Note 14. RESERVES AND DESIGNATED FUND EQUITY (continued)
<br />Debt Service Funds -
<br />Debt service designation for $654,867 is designated for future payment of principal and interest on general
<br />obligation long-term debt.
<br />Capital Project Funds -
<br />Capital project designation for $171,511 is designated for approved 1997 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 1996 is as follows:
<br /> Water Sewer Street
<br /> Utility Utility Light Total
<br />
<br />Contributed capital, January 1, 1996 $6,773,274 $6,843,490 $80,868 $13,697,632
<br />Add current capital contributions 1,575,551 902,231 27,115 2,504,897
<br />Contributed Capital, December 31, 1996 $8,348,825 $7,745,721 $107,983 $16,202,529
<br />
<br />Segment information pertinent to the enterprise funds is reflected below:
<br />
<br /> Water Sewer Street Recycling
<br /> Utility Utility Light Utility Total
<br />
<br />Operating Revenue $ 288,858 $ 258,102 $ 48,666 $ 100,888 $ 696,514
<br />Depreciation Expense $ 137,145 $ 148,206 $ 6,976 $ - $ 292,327
<br />Operating Income (Loss) $ 8,062 $ (40,955) $ 20,882 $ 11,523 $ (488)
<br />Operating Transfers (Out) $ (6,000) $ (3,000) $ (1,000) $ - $ (10,000)
<br />Net Income $ 155,790 $ 2,863 $ 23,398 $ 11,523 $ 193,574
<br />Property, Plant, and
<br />Equipment Additions $ 1,298,843 $ 927,642 $ 27,115 $ - $ 2,253,600
<br />Net Working Capital $ 2,954,557 $ 911,418 $ 58,769 $ 31,113 $ 3,955,857
<br />Total Assets $ 8,622,534 $ 7,560,308 $ 207,038 $ 39,880 $ 16,429,760
<br />-Total Equity $ 8,613,084 $ 7,533,725 $ 180,848 $ 31,113 $ 16,358,770
<br />Note 16. FUND CHANGES
<br />The following fund was created during the fiscal year ended December 31, 1996:
<br />special Revenue Funds
<br />Transportation Impact Fee Activity
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