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<br />ENTERPRISE FUNDS OVERVIEW
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<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. We understand that the City is
<br />proactive in reviewing these activities on an ongoing basis and we want to reiterate the importance of
<br />continually monitoring these operations. Over the years, we have emphasized to our city clients the
<br />importance of these utility operations being self-sustaining, preventing additional burdens on general
<br />government funds. This would include the accumulation of net assets for future capital improvements and
<br />to provide a cushion in the event of a negative trend in operations.
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<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, 2020, presented both by classification and by fund:
<br />
<br />2020 2019 Change
<br />Net position of enterprise funds
<br />Total by classification
<br />Net investment in capital assets 17,248,962$ 17,452,137$ (203,175)$
<br />Unrestricted 3,000,493 2,025,812 974,681
<br />Total enterprise funds 20,249,455$ 19,477,949$ 771,506$
<br />Total by fund
<br />Water 8,524,928$ 8,228,211$ 296,717$
<br />Sewer 6,598,119 6,412,749 185,370
<br />Surface Water Management 4,984,413 4,718,789 265,624
<br />Nonmajor Recycling 141,995 118,200 23,795
<br />Total enterprise funds 20,249,455$ 19,477,949$ 771,506$
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<br />Enterprise Funds Change in Financial Position
<br />Net Position
<br />as of December 31,
<br />
<br />
<br />In total, the net position of the City’s enterprise funds increased by $771,506 during the year ended
<br />December 31, 2020. 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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