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CITY OF MOUNDS VIEW, MINNESOTA
<br /> Exhibit 1
<br /> WATER ENTERPRISE FUND
<br /> • PROJECTED BALANCE SHEET
<br /> December 31, 1990, 1991, 1992, 1993 and 1994 _
<br /> y
<br /> �'ti ,l lltlr USe
<br /> •
<br /> iia ,y R eas
<br /> e
<br /> 1990 1991 1992 1993 1994
<br /> Assets
<br /> 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 /> Other current
<br /> Total current assets 1.787387 1,793,928 1,769,281 1,748,876 1,820.817
<br /> 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 /> 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 /> 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 /> Total assets 54.218.334 56.472.984 56.316.851 56.180.886 56.063.187
<br /> Liabilities and fund equity
<br /> 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 /> 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 /> 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 /> Fund equity:
<br /> Contributions-net 1.888 255 1.788.314 1.688.373 1.588.432 1.488.491
<br /> Retained earnings:
<br /> 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 /> Total liabilities and fund equity S4.218.334 $6.467.984 56.301.851 $6.150.886 S6,018.187
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