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CITY OF MOUNDS VIEW, MINNESOTA
<br /> ISchedule 7
<br /> WATER ENTERPRISE FUND
<br /> • PROJECTED BALANCE SHEET
<br /> December 31,1996,1997, 1998,1999 and 2000
<br /> •
<br /> 1 1996 1997 1998 1999 2000
<br /> Assets
<br /> 1 Current Assets:
<br /> Cash and investments $1,279,934 $1,230,818 $1,239,839 $1,199,887 $1,252,668
<br /> Accounts receivable 168,985 179,124 189,871 201,264 213,339
<br /> Total current assets 1,448,919 1,409,942 1,429,710 1,401,151 1,466,007
<br /> Property,plant and equipment,at cost
<br /> Land 7,596 7,596 7,596 7,596 7,596
<br /> Buildings 4,619,647 4,619,647 4,619,647 4,644,647 4,644,647
<br /> Distribution and collection systems 2,954,098 2,954,098 2,954,098 2,954,098 2,954,098
<br /> Equipment 355,706 393,656 398,956 456,241 461,841
<br /> Water meters 830,000 830,000 830,000 830,000 830,000
<br /> Total 8,767,047 8,804,997 8,810,297 8,892,582 8,898,182
<br /> Less: Accumulated depreciation (3,007,821) (3,264,145) (3,522,029) (3,771,534) (3,976,175)
<br /> Net property,plant and equipment 5,759,226 5,540,852 5,288,268 5,121,048 4,922,007
<br /> Total assets $7,208,145 $6,950,794 $6,717,978 $6,522,199 $6,388,014
<br /> 1 410 Liabilities and fiord equity
<br /> A Current liabilities:
<br /> Q. Payables and accrued expenses $128,750 $132,613 $136,591 $140,689 $144,910
<br /> Bonds and loan payable-current 120,164 127,312 134,614 142,079 169,720
<br /> Total current liabilities 248,914 259,925 271,205 282,768 314,630
<br /> Non-current liabilities:
<br /> Compensated absences payable 25,034 25,785 26,559 27,356 28,177
<br /> Deposits payable 70,000 70,000 70,000 70,000 70,000
<br /> Bonds and loans payable 3,055,949 2,928,637 2,794,023 2,651,944 2,482,224
<br /> Total non-current liabilities 3,150,983 3,024,422 2,890,582 2,749,300 2,580,401
<br /> Total liabilities 3,399,897 3,284,347 3,161,787 3,032,068 2,895,031 •
<br /> Fund equity
<br /> Contributions-net 1,193,670 1,092,884 992,098 891,312 833,434
<br /> I Retained earnings:
<br /> Reserved 178,359 178,359 178,359 178,359 178,359
<br /> Unreserved 2,436,219 2,395,204 2,385,734 2,420,460 2,481,190
<br /> I Total retained earnings 2,614,578 2,573,563 2,564,093 2,598,819 2,659,549
<br /> Totalfimdequity 3,808,248 3,666,447 3,556,191 3,490,131 3,492,983
<br /> ITotal liabilities and fiord equity $7,208,145 $6,950,794 $6,717,978 $6,522,199 $6,388,014
<br /> I
<br /> i
<br /> 1For internal use only-not to be relied on by others for any purpose.
<br /> Sec ac coImtAnts report and notes to financial statements,which include significant projection assumptions.
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