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<br />ENTERPRISE FUNDS OVERVIEW
<br />
<br />The City maintains enterprise funds to account for services the City provides that are financed primarily
<br />through fees charged to those utilizing the service. This section of the report provides you with an
<br />overview of the financial trends and activities of the City’s enterprise funds, which include the Water,
<br />Sewer, Surface Water Management, and Recycling Funds.
<br />
<br />The utility funds comprise a considerable portion of the City’s activities. These funds help to defray
<br />overhead and administrative costs and provide additional support to general government operations by
<br />way of annual transfers. We understand that the City is proactive in reviewing these activities on an
<br />ongoing basis and we want to reiterate the importance of continually monitoring these operations. Over
<br />the years, we have emphasized to our city clients the importance of these utility operations being
<br />self-sustaining, preventing additional burdens on general government funds. This would include the
<br />accumulation of net assets for future capital improvements and to provide a cushion in the event of a
<br />negative trend in operations.
<br />
<br />ENTERPRISE FUNDS FINANCIAL POSITION
<br />
<br />The following table summarizes the changes in the financial position of the City’s enterprise funds during
<br />the year ended December 31, 2019, presented both by classification and by fund:
<br />
<br />Increase
<br />2019 2018 (Decrease)
<br />Net position of enterprise funds
<br />Total by classification
<br />Net investment in capital assets 17,452,137$ 17,295,916$ 156,221$
<br />Unrestricted 2,025,812 1,329,268 696,544
<br />Total enterprise funds 19,477,949$ 18,625,184$ 852,765$
<br />Total by fund
<br />Water 8,228,211$ 8,179,034$ 49,177$
<br />Sewer 6,412,749 5,875,144 537,605
<br />Surface Water Management 4,718,789 4,447,569 271,220
<br />Nonmajor Recycling 118,200 123,437 (5,237)
<br />Total enterprise funds 19,477,949$ 18,625,184$ 852,765$
<br />
<br />Enterprise Funds Change in Financial Position
<br />Net Position
<br />as of December 31,
<br />
<br />In total, the net position of the City’s enterprise funds increased by $852,765 during the year ended
<br />December 31, 2019. The increase in net position is primarily related to positive operating results and
<br />improved investment earnings in the current year.
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