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CITY OF CENTERVILLE, MINNESOTA <br /> NOTES TO FINANCIAL STATEMENTS <br /> DECEMBER 31, 1999 <br /> Note 3: DETAILED NOTES ON ALL FUNDS AND ACCOUNT GROUPS - CONTINUED <br /> C. Fixed Assets <br /> A summary of changes in general fixed assets (unaudited) for the year ended December 31, 1999 is as follows: <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 129,549 83,538 213,087 <br /> Other improvements 70,431 - 70,431 <br /> Total $ 970,158 L33,531 S 1.053.696 <br /> The following is a summary of proprietary fund type fixed assets at December 31, 1999: <br /> Enterprise Funds <br /> Water Sewer Total <br /> Water distribution system $1,059,266 $ - $ 1,059,266 <br /> Sewer collection system - 1,119,814 1,119,814 <br /> Total 1,059,266 1,119,814 2,179,080 <br /> Less accumulated depreciation (127,177) 1293,638) (420,815) <br /> Net Fixed Assets $ 1,758,265 <br /> D. Deferred Revenue <br /> Deferred revenue at December 31, 1999 is comprised of the following: <br /> Debt <br /> General Service Enterprise Total <br /> Delinquent taxes $ 19,414 $ - $ - $ 19,414 <br /> Special assessments <br /> Delinquent - 2,711 13,032 15,743 <br /> Deferred - 211,349 509,557 720.906 <br /> Total 14 $214 Q $ 522,589 $ 756.063 <br /> E. Long - term Debt <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 government <br /> activities. <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 /> -16- <br />