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<br />CITY OF CENTERVllLE, MINNESOTA <br />NOTES TO FINANCIAL STATEMENTS <br />DECEMBER 31, 2001 <br /> <br />Note 3; DETAILED NOTES ON ALL FUNDS AND ACCOUNT GROUPS - CONTINUED <br /> <br />C. Fixed Assets <br /> <br />A summary of changes in general fixed assets (unaudited) for the year ended December 31, 2001 is as follows: <br /> <br /> Balance <br /> Beginning Balance <br /> of Year Additions End of Year <br />Land and land improvements $ 27,450 $ $ 27,450 <br />Buildings 742,728 742,728 <br />Furniture and equipment 688,299 255,406 943,705 <br />Other improvements 70,431 70.431 <br />Total $ 1 528 908 $ 255 406 $ 1 784314 <br /> <br />The following is a swnmary of proprietary fund type fixed assets at December 31, 2001: <br /> <br />Total <br />Less accumulated depreciation <br /> <br /> Enterorise Funds <br /> Water Sewer Total <br />$ 1,364,761 $ $ 1,364,761 <br /> 1.683.510 1.683,510 <br /> 1,364,761 1,683,510 3,048,271 <br /> (] 80.984 ) (337.501 ) (518,485) <br />$ I 183777 $ I ,46 009 $ 2.529 786 <br /> <br />Water distribution system <br />Sewer collection system <br /> <br />Net Fixed Assets <br /> <br />D. Deferred Revenue <br /> <br />Deferred revenue at December 31, 2001 is comprised of the following: <br /> <br /> Debt <br /> General Service Enterorise Total <br /> Delinquent taxes $ 29,623 $ $ $ 29,623 <br /> Special assessments <br /> Delinquent 1,233 9,548 10,781 <br /> Deferred 347.410 442.455 789.865 <br /> Total $ 29 623 $ 348 643 $ 452 003 $ 830 269 <br />E. Long-term Debt <br /> <br />General Obligation Bonds. The City issues general obligation bonds to provide funds for the acquisition and <br />construction of major capital facilities. General obligation bonds have been issued for general goverrunent <br />activities. <br /> <br />General obligation bonds are direct obligations and pledge the full faith and credit of the City. General <br />obligation bonds currently outstanding are as follows: <br /> <br />-16- <br />