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<br />12. Transfers Out <br />The amount shown represents the debt-related transfers made earlier this year <br />(city hall lease payment, etc.) This will be the last year for those obligations. <br /> <br />Entemrise Funds <br /> <br />1. Water and Sewer <br />Both funds show positive net income. Utility revenue will fluctuate with the <br />quarterly billings. Depreciation will be recorded at year-end. The amount of <br />$15,000 was budgeted in both the Water and Sewer funds for transfer to the <br />General Fund. Last year, Council chose not to do this. It is still an option for this <br />year. The construction of a water tower and new well over the next two years will <br />substantially deplete the Water Fund. <br /> <br />Prepared By: <br /> <br />Approved By: <br /> <br />Finance Director <br /> <br />Administrator <br /> <br />N arrative.doc <br />