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CITY OF CENTERVILLE, MINNESOTA <br />NOTES TO THE FINANCIAL STATEMENTS <br />FOR THE YEAR ENDEDDECEMBER 31, 2010 <br /> <br />Note 3:DETAILED NOTES ON ALL FUNDS - CONTINUED <br /> <br />Advances from/toother funds <br />The following is a schedule of interfund advances: <br />Receivable Fund <br />Payable FundAmount <br />Enterprise <br />Sewer General$ 448,828 <br />Sewer Park 1,108,312 <br />Sewer Debt service 371,334 <br />Sewer Storm water 110,000 <br />Total$ 2,038,474 <br /> <br />The Sewer fund advanced the Park fund an additional $825,000 during the year to provide temporary <br />financing to cover the costs of improvements to the property until funds are available from developer fees <br />for parks. In the event that park fees are insufficient to make payments on the advance, the required funds <br />shall be included in the operating levy. <br /> <br />The Sewer fund advanced the Downtown Storm Water Reclamation fund $110,000 to provide monies for <br />the project funding plan. The advance will be repaid upon the completion of the project. <br /> <br />All of the above interfund advances have associated amortization schedules, of which current payments are being <br />made. <br /> <br />G.Fund equity <br />Certain reservations and designations have been made in the following funds: <br /> <br />Fund <br />Purpose Amount <br />Fund balance - Reserved <br />Debt ServiceDebt service on bonds issued$ 2,096,530 <br />Prepaids 6,151 <br />General Prepaids 5,213 <br />Total reserved fund balance$ 2,107,894 <br />Fund balance - Unreserved - Designated <br />GeneralWorking capital$ 1,063,198 <br /> <br />-64- <br /> <br />