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<br />-12- <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, 2023, presented both by classification and by fund: <br /> <br />2023 2022 Change <br />Net position of enterprise funds <br />Total by classification <br />Net investment in capital assets 1,193,870$ 1,232,736$ (38,866)$ <br />Unrestricted 455,794 420,313 35,481 <br />Total enterprise funds 1,649,664$ 1,653,049$ (3,385)$ <br />Total by fund <br />Water 557,574$ 568,019$ (10,445)$ <br />Sewer 1,092,090 1,085,030 7,060 <br />Total enterprise funds 1,649,664$ 1,653,049$ (3,385)$ <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 $3,385 during the year ended <br />December 31, 2023, due to negative operating results in the Water Fund in the current year. <br />