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CITY OF ftOSEVILLE MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS (CONTINUED)
<br />DECEMBER 31 1986
<br />Not 13 - SeQment Information for Enterprise Eunds (Continued)
<br />Sanitary Ice SGorm
<br />Sewer Water Golf Arena Drainaqe Total
<br />Sales 5 15,409 5 22,396 5 37,805
<br />Operating
<br />revenues 51,728,569 51,641,298 155,661 282,138 548,713 4,556,3�9
<br />Depceciatlon 119,083 191,370 10,689 31,105 129,721 921,968
<br />Operating
<br />Sncame
<br />(loss)
<br />Othec
<br />nonoperating
<br />revenues
<br />(expenses)
<br />Property tax
<br />revenue
<br />Net Income
<br />(Loss)
<br />Property and
<br />equipment
<br />Additions
<br />Contributions
<br />Net working
<br />capital
<br />Total assets
<br />Bonds payable
<br />Erom operating
<br />revenue
<br />Erom other
<br />sources
<br />Fund equity
<br />ConGributed
<br />ftetained
<br />earnings
<br />Total equity
<br />C 234,722) C 89,559)
<br />97,799 94,470
<br />(136,9�3) 5,911
<br />30,970 219,490
<br />1,253,820 1,614,2�2
<br />7,998,299 9,671,063
<br />5,266,625 6,848,519
<br />2,600,066 1,926,897
<br />7,866,691 6,775,916
<br />40,390 (57,256)
<br />9,784 13,870
<br />29.272
<br />95,174 ( 19,114)
<br />6,296 24.544
<br />220,762 ( 119,385)
<br />1,100 211,973
<br />24,272
<br />221,862 116,860
<br />79,833 363,133
<br />137,157 221,592 247,073 3,473,914
<br />506,067 942,199 10,594,679 29,662,257
<br />15,000 15,000
<br />500,000 100,000
<br />65,809 489,237 11,113,843 23,764,033
<br />421,698 331,544 ( 591,716) 4,738,439
<br />987,457 820,781 10,572,127 28,522,472
<br />Note 14 Deferred Compensation Plan
<br />The City offers its employees a deferred compensation plan established in accordance
<br />with Internal Revenue Code Section 457. The plan, available to all employees,
<br />permits them to defer a portion of their salary until future years. The deferred
<br />compensation is not available to employees until Germination, retirement, death, or
<br />unforeseeable emergency.
<br />All amounts of compensation deferred under the plan, all property and rights
<br />property purchased with thoses amounts, and all income attributable to those amounCs,
<br />� or rlghts are (until paid or made available to Che employee or other be�efic!ary)
<br />solely the property and righ[s of the City, subject only to the claims of the City's
<br />general creditors. Participants' rights under the plan are equal [o those of
<br />qeneral creditors of the City in an amount equal to the fair market value of <he
<br />deferred account for each participant,
<br />It is the opinion of the City's legal counsel Lhat the City has no llabillGy for
<br />losses undec the plan but does have the duty o£ due care that would be required of
<br />, an ordinary prudent Snvestor. The City believes that SG is unllkely that it will use
<br />the assets to satisfy [he claims of general credlLors in the future,
<br />Plan assets of 5339,869 at December 31, 1986 are shown in the financial statement as
<br />a"Deposits with Trustees" Sn the agency funds wiCh a correspondi�g credit to
<br />deposits payable.
<br />39-
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