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Capital Project Funds <br />The Closed Bond Fund was established to account for all excess bond receipts. <br />The Dedicated Parks Fund accounts for revenues and expenditures for the acquisition and construction of park <br />proj ects. <br />The Area and Unit Charges Fund accounts for water and sewer area assessments to be used for the construction <br />of City utility infrastructure. <br />The Surface Water Management was established to help fund the costs associated with surface water issues and <br />planning. <br />The Town Center /Civic Center Project Funds were established to account for costs associated with the creation <br />of the "Village ", including: infrastructure, civic buildings and development of the property for commercial use. <br />Tax Increment Funds were established to account for projects financed with tax increments. <br />Enterprise Funds <br />The Water Fund accounts for the operations of the municipal water system. The following table illustrates the <br />operations: <br />2001 2000 $ Change % Change <br />Operating Revenues $865,943 $718,822 $147,121 20.47% <br />Operating Expenses 508,649 495,183 13,466 2.72% <br />(Excluding Depreciation) <br />Operating Income (Loss) <br />$357,294 $223,639 $133,655 59.76% <br />New water rates were implemented in April. The rates were reconfigured into a tiered structured to provide an <br />incentive to conserve water. The rates were also set to capture system depreciation for future system <br />replacement. In addition , water revenues increased due to increased number of users on the system, resulting in <br />greater consumption. Continuation of a program to implement a telephone meter reading system resulted in <br />increases in personnel, supply and contractual costs over the previous year. <br />The Sewer Fund accounts for the operations of the municipal sanitary sewer system. The following table <br />illustrates the operations: <br />Operating Revenues <br />Operating Expenses <br />(Excluding Deprecation) <br />Operating Income (Loss) <br />2001 2000 S Change % Change <br />$1,011,983 $875,850 $136,133 15.54% <br />575,379 641,729 (66,350) (10.34 %) <br />$436,604 $234,121 $202,483 86.49% <br />8 <br />