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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, 2022, presented both by classification and by fund: <br /> <br />2022 2021 Change <br />Net position of enterprise funds <br />Total by classification <br />Net investment in capital assets 1,232,736$ 1,262,271$ (29,535)$ <br />Unrestricted 420,313 446,631 (26,318) <br />Total enterprise funds 1,653,049$ 1,708,902$ (55,853)$ <br />Total by fund <br />Water 568,019$ 603,450$ (35,431)$ <br />Sewer 1,085,030 1,105,452 (20,422) <br />Total enterprise funds 1,653,049$ 1,708,902$ (55,853)$ <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 $55,853 during the year ended <br />December 31, 2022, due to negative operating results in these funds in the current year. <br />