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1 <br />NOTES TO FINANCIAL STATEMENTS - Continued <br />December 31, 1980 <br />Note 4: Changes in Account Groups <br />Balance - beginning of year <br />Increases: <br />Certificates of Indebtedness issued <br />Xerox machine purchased on contract <br />Purchases of equipment <br />General General <br />Long -Term Fixed Assets <br />Debt (Unaudited) <br />$ 31,138 $ 717,073 <br />63,000 <br />4,580 <br />68,636 <br />Decreases: <br />Bond and certificate principal paid (31,000) <br />Contract payments (631) <br />Transfer of Water and Sewer Fund assets <br />to the enterprise fund (406,115) <br />Balance - End of Year <br />$ 67,087 $_ 379,594 <br />Note 5: Amount to be Provided for Debt Service <br />Deferred tax levies for future debt service on bonds will be placed annually <br />as scheduled to provide funds for debt retirement. The total deferred tax <br />levies to retire General Long -Term Debt are $59,865. In addition, <br />substantially all amounts to be provided for debt service in the 1980 <br />Improvement Bond Fund will be derived from assessments levied against <br />the benefited properties of these improvement projects. <br />Note 6: Water and Sewer Enterprise Fund <br />Prior to January 1, 1980, the operations of the Water and Sewer Fund <br />were accounted for for three years in the General Fund and the fixed <br />assets of the water and sewer operation were reported in the General <br />Fixed Assets Account Group. <br />By Council resolution the Water and Sewer Fund was re- established in <br />1980. On January 1, 1980, the net assets in the General Fund and <br />General Fixed Assets Account Group relating to the water and sewer <br />operations were transferred to the Water and Sewer Enterprise Fund. <br />Note 7: General Purpose Financial Statements "Total Columns (Memorandum Only)" <br />Due to the diverse and complex nature of a governmental unit's <br />operations, the accounting system is organized and operated on a fund <br />basis in accordance with special regulation, restrictions, or admini- <br />strative guidelines. Therefore, the columns on the combined financial <br />statements captioned "Total (Memorandum Only)" are presented for infor- <br />mation purposes only, and are not intended to present consolidated <br />financial information. <br />- 16 - <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />