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<br />f <br /> <br />9. Capital Outlay <br />No capital expenditures have been made to date. The capital budget may be <br />reallocated as the council sees fit, (i.e., new vehicle, park capital, etc.) <br /> <br />10. 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 />Enterorise 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. <br /> <br />Prepared By: <br /> <br />Approved By: <br /> <br />Finance Director <br /> <br />Administrator <br /> <br />N arrative.doc <br />