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CITY OF RAMSEY, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS (Continued) <br />December 31, 1988 <br />Note 11. RESERVED AND DESIGNATED FUND EQUITY (continued) <br />The following reservations of fund equity have been made at <br />December 31, 1988: <br />Water and Sewer Fund - <br />Future construction $ 233,458 <br />The Water and Sewer Fund reservation for future construction is from <br />assessments for elevated water storage and future oversizing of water <br />and sewer lines. <br />The following designations of unreserved fund equity have been made at <br />December 31, 1988: <br />General Fund - <br />Compensated absences <br />Working capital <br />$ 63,288 <br />846,247 <br />$ 909,535 <br />Debt Service Funds - <br />Debt service $3,111,657 <br />General Fund - <br />Compensated absences designation for $63,288 represents the esti- <br />mated long -term liability for compensated absences. <br />Working capital designation for $846,247 provides for cash flow <br />needs based on the level of intergovernmental revenue received by <br />the City. <br />Debt Service Funds - <br />Debt service designation for $3,111,657 is designated for future <br />payment of principal and interest on general obligation long -term <br />debt. <br />Note 12. ENTERPRISE FUND INFORMATION <br />The City maintains a Water and Sewer Enterprise Fund. A schedule of <br />changes in contributed capital during 1988 is as follows: <br />Total contributed capital, January 1, 1988 <br />Add current capital contributions <br />Total Contributed Capital, December 31, 1988 $1,948,506 <br />-32- <br />$1,857,100 <br />91,406 <br />