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<br />-13- <br />ENTERPRISE FUNDS OVERVIEW <br /> <br />The City maintains two enterprise funds to account for services the City provides that are financed primarily <br />through fees charged to those utilizing the service. This section of the report provides you with an overview <br />of the financial trends and activities of the City’s enterprise funds, which include the Water Fund and Sewer <br />Fund. <br /> <br />ENTERPRISE FUNDS FINANCIAL POSITION <br /> <br />The following table summarizes the changes in the financial position of the City’s enterprise funds during <br />the year ended December 31, 2020, presented both by classification and by fund: <br /> <br />2020 2019 Change <br />Net position of enterprise funds <br />Total by classification <br />Net investment in capital assets 1,291,806$ 1,311,032$ (19,226)$ <br />Unrestricted 422,201 454,037 (31,836) <br />Total enterprise funds 1,714,007$ 1,765,069$ (51,062)$ <br />Total by fund <br />Water 607,882$ 666,278$ (58,396)$ <br />Sewer 1,106,125 1,098,791 7,334 <br />Total enterprise funds 1,714,007$ 1,765,069$ (51,062)$ <br /> <br />Enterprise Funds Change in Financial Position <br />Net Position <br />as of December 31, <br /> <br /> <br />In total, the net position of the City’s enterprise funds decreased by $51,062 during the year ended <br />December 31, 2020. The decrease in unrestricted net position is primarily related to negative operating <br />results in the Water Fund in the current year. <br /> <br /> <br />