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CITY OF CENTERVILLE, MINNESOTA <br />NOTES TO THE FINANCIAL STATEMENTS <br />DECEMBER 31, 2013 <br />Note 3:DETAILED NOTES ON ALL FUNDS - CONTINUED <br />Depreciation expense was charged to functions/programs of the City as follows: <br />Governmental activities <br />General government$13,168 <br />Public safety2,339 <br />Public works819,065 <br />Culture and recreation107,912 <br />Total depreciation expense - governmental activities$942,484 <br />Business-type activities <br />Water$188,589 <br />Sewer117,790 <br />Storm water33,322 <br />Total depreciation expense - business-type activities$339,701 <br />Construction commitment <br />As of December 31, 2013, the City has signed contracts in place for one construction project. The following summarizes <br />this commitment: <br />SpentRemaining <br />Project <br />to DateCommitment <br />Northdale Construction$ 1,247,187$299,009 <br />C.Interfund balances and transfers <br />The following is a schedule of interfund transfers as of December 31, 2013: <br />Transfer In <br />DebtOther <br />Fund <br />ServiceGovernmentalTotal <br />Transfer out <br />General$40,000$212,203$252,203 <br />Sewer388,296-388,296 <br />Total$428,296$212,203$640,499 <br />A transfer of $168,900from the Generalfund to other governmentalfunds for funding of future street projects <br />and maintenance. <br />A transfer of $388,296 from the Sewer fund to the Debt Service fund was made to eliminatethe interfund loan <br />between the funds. <br />A transfer of $40,000 from the General fund to the Debt Service fund for future debt service payments. <br />A transfer of $43,303 from the General fund to other governmental funds to establish a new capital equipment <br />revolving fund. <br /> <br />