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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 position for future capital improvements
<br />and 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, 2022, presented both by classification and by fund:
<br />
<br />2022 2021 Change
<br />Net position of enterprise funds
<br />Total by classification
<br />Net investment in capital assets 18,960,842$ 18,373,335$ 587,507$
<br />Unrestricted 4,679,804 3,921,634 758,170
<br />Total enterprise funds 23,640,646$ 22,294,969$ 1,345,677$
<br />Total by fund
<br />Water 10,350,785$ 9,870,248$ 480,537$
<br />Sewer 7,544,199 7,022,865 521,334
<br />Surface Water Management 5,539,163 5,211,661 327,502
<br />Nonmajor Recycling 206,499 190,195 16,304
<br />Total enterprise funds 23,640,646$ 22,294,969$ 1,345,677$
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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 $1,345,677 during the year ended
<br />December 31, 2022. The increase in net position is primarily related to positive operating results and
<br />capital contributions for connection fees and capital grants recognized in the current year.
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