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City of Centerville, Minnesota <br />Notes to the Financial Statements <br />December 31, 2021 <br /> <br />Note 3: Detailed Notes on All Funds (Continued) <br /> <br />C.Interfund Balances and Transfers <br />The composition of internal balance as of December 31, 2021 is as follows: <br /> <br />The above interfund advance and the amount due to/from other funds are being paid back according to the amortization <br />schedules. The Sewer fund financed a portion of a project that the Park fund is repaying with park dedication fees. The <br />Water fund loan the Garbage fund $15,199 to cover deficit cash balances. <br />Interfund Transfers <br /> <br />A transfer of $200,000 and $81,000 was made from the General fund to the City Street Projects and Capital Equipment <br />Revolving fund for future capital projects and replacement of equipment, vehicles and computers. A $163,500 transfer <br />was made within the debt service funds to close the 2013A bond fund. <br /> <br />57 <br /> <br />