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ASSETS
<br />CITY OF RAMSEY, MINNESOTA Exhibit F -1
<br />SEWER AND WATER FUND
<br />COMPARATIVE BALANCE SHEET
<br />As of December 31, 1988 and 1987
<br />1988 1987
<br />Current Assets:
<br />Cash and temporary cash investments $ 230,888 $ 227,323
<br />Receivables -
<br />Accounts 20,739 5,638
<br />Accrued interest - 4,993
<br />Due from other governmental units 93,000 -
<br />Inventories, water meters 26,316 14,876
<br />Other assets 2,167 -
<br />Total Current Assets 373,110 252,830
<br />Property and Equipment, at Cost:
<br />Buildings 137,651 137,651
<br />Machinery and equipment 158,398 139,291
<br />Water and sewer lines 1,671,969 1,584,458
<br />1,968,018 1,861,400
<br />Less accumulated depreciation 124,076 75,105
<br />Net Property and Equipment 1,843,942 1,786,295
<br />Total Assets $2,217,052 $2,039,125
<br />LIABILITIES AND FUND EQUITY
<br />Liabilities:
<br />Accounts payable $ 95,877 $ 3,579
<br />Salaries payable - 595
<br />Due to other funds 7,000 7,000
<br />Due to other governmental units 4,356 4,678
<br />Deposits payable, water meters 25,900 15,300
<br />Total Liabilities 133,133 31,152
<br />Fund Equity:
<br />Contributed capital 1,948,506 1,857,100
<br />Retained earnings (deficit) -
<br />Reserved for future construction 233,458 233,458
<br />Unreserved (98,045) (82,585)
<br />Total Retained Earnings 135,413 150,873
<br />Total Fund Equity
<br />Total Liabilities and Fund Equity
<br />2,083,919 2,007,973
<br />$2,217,052 $2,039,125
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