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<br />Enterprise Funds <br /> <br />1. Water and Sewer <br />No budget was set for the year 2002 for the enterprise funds. The interest on <br />investments account in both funds reflects a negative amount due to the fact that <br />reversing (accounting) entries were made at the beginning of the year and the <br />interest income has not yet been allocated from the interest account. This will be <br />done in December. Similarly, depreciation entries will be recorded at year-end. <br />Both funds show income before operating transfers. The operating transfers out <br />consist mainly of the utility oversizing transfers made to the capital projects <br />funds. <br /> <br />Prepared By: <br /> <br />Approved By: <br /> <br />Finance Director <br /> <br />Administrator <br /> <br />N arrative.doc <br /> <br />l _ <br />