5.1. SR 05-14-2001 - Laserfiche WebLink

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CITY OF ELK RIVER, MINNESOTA NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 2000 Note 8: FUND EQUITY The various components of fund equity are contributed capital, retained earnings, and fund balance. Contributed Capital - The amount represents the value of assets contributed to the enterprise funds by other City funds and developers. The balances are as follows: Sewage Disposal Water Electric Total. Balance, December 31 $2,687,733 $1,061,925 $1,245,039 $4,994,697 Retained d Earnina .............. _ § - The amount represents the portion of retained earnings legally segregated for a specific future use. Reserved Fund Balance - This represents the portion of fund balance which cannot be appropriated for future expenditures. Designated Fund Balance - Designated amounts indicate tentative plans for future uses of financial . . ............... ....... resources. Unreserved and undesignated amounts are available to finance current and future years' expenditures. The following reservations and designations of fund equity have been made as of December 31, 2000: General Fund - Designated for working capital $2,695,612 Special Revenue Funds - Reserved for prepaid items $ 43,732 Reserved for development projects 750,042 Reserved for trail development 188,441 Reserved for building debt 945,146 Designated for capital outlay 918,856 Total Special Revenue Funds 2,846,217 Debt Service Funds - Reserved for Debt Service $6,039,757 Capital Projects Funds - Reserved for western area utilities $ 560,356 Designated for capital projects 2,345,843 Total Capital Projects Funds $2,906AI99 Electric Enterprise Fund Retained earnings - Reserved for emergency $ 85,000 Reserved for construction 1,125,764 Total Electric Enterprise Fund $1,210,764 26