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<br /> CITY OF MOUNDS VIEW, MINNESOTA
<br /> Exhibit 1
<br /> I , WATER ENTERPRISE FUND
<br /> PROJECTED BALANCE SHEET
<br /> December 31, 1990, 1991, 1992, 1993 and 1994 „ F ; , n
<br /> , ,sa Vitt, iiTii---
<br /> i'¢i ei lc,li US6 y alst;
<br /> 11NUL �`i ithorized fca R6iea e
<br /> 1990 1991 1992 1993 1994
<br /> Assets
<br /> I Current Assets:
<br /> Cash and investments $1,686,887 $1,687,275 $1,650,734 $1,624,025 $1,683,801
<br /> Accounts receivable 100,500 106,653 118,547 124,851 137,016
<br /> I Other current
<br /> Total current assets 1,787,387 1,793,928 1,769,281 1,748,876 1,820,817
<br /> I Property,plant and equipment,at cost:
<br /> Land 7,596 7,596 7,596 7,596 7,596
<br /> Buildings 1,630,529 1,630,529 1,630,529 1,630,529 1,630,529
<br /> Lift stations
<br /> I Distribution and collection systems 2,729,549 5,119,549 5,155,949 5,155,949 5,155,949
<br /> Equipment 254,772 269,682 285,982 360,582 365,582
<br /> Water meters 130,551 130,551 130,551 130,551 130,551
<br /> Total 4,752,997 7,157,907 7,210,607 7,285,207 7,290,207
<br /> I
<br /> Less: Accumulated depreciation (2,322,050) (2,478,851) (2,663,037) (2,853,197) (3,047,837)
<br /> Net property,plant and equipment 2,430,947 4,679,056 4,547,570 4,432,010 4,242,370
<br /> ITotal assets $4,218,334 $6,472,984 $6,316,851 $6,180,886 $6,063,187
<br /> Liabilities and fund equity
<br /> I Current liabilities:
<br /> Payables and accrued expenses $35,118 $36,874 $38,718 $40,654 $42,687
<br /> Bonds payable-current 65,000 70,000 75,000 80,000
<br /> Total current liabilities 35,118 101,874 108,718 115,654 122,687
<br /> I Non-current liabilities
<br /> Compensated absences payable 17,430 18,302 19,217 20,178 21,187
<br /> Deposits payable 76,305 71,405 66,505 61,605 56,705
<br /> I Bonds payable 2,265,000 2,195,000 2,120,000 2,040,000
<br /> Total non-current liabilities 93,735 2,354,707 2,280,722 2,201,783 2,117,892
<br /> Total liabilities 128 853 2 456 581 2,389,440 2,317,437 2,240,579
<br /> 1 Fund equity.
<br /> Contributions- net 1,888,255 1,788,314 1,688,373 1,588,432 1,488,491
<br /> Retained earnings:
<br /> I Reserved 134,045 134,045 134,045 134,045 134,045
<br /> Unreserved 2,067,181 2,089,044 2,089,993 2,110,972 2,155,072
<br /> Total retained earnings 2,201,226 2,223,089 2,224,038 2,245,017 2,289,117
<br /> Total fund equity 4,089,481 4,011,403 3,912,411 3,833,449 3,777,608
<br /> ITotal liabilities and fund equity $4,218,334 $6,467,984 $6,301,851 $6,150,886 $6,018,187
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