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<br />ENTERPRISE FUNDS OVERVIEW
<br />
<br />The City maintains several enterprise funds to account for services the City provides that are financed
<br />primarily through fees charged to those utilizing the services. This section of the report provides you with
<br />an overview of the financial trends and activities of the City’s enterprise funds, which include the Water,
<br />Sewer, Storm Water, and Street Light Funds.
<br />
<br />ENTERPRISE FUNDS FINANCIAL POSITION
<br />
<br />The following table summarizes the changes in the financial position of the City’s enterprise funds during
<br />the year ended December 31, 2024, presented both by classification and by fund:
<br />
<br />2024 2023 Change
<br />Net position of enterprise funds
<br />Total by classification
<br />Net investment in capital assets 9,456,028$ 7,617,563$ 1,838,465$
<br />Unrestricted 3,430,415 5,088,544 (1,658,129)
<br />Total enterprise funds 12,886,443$ 12,706,107$ 180,336$
<br />Total by fund
<br />Water 4,331,311$ 4,627,101$ (295,790)$
<br />Sewer 4,876,713 4,630,230 246,483
<br />Storm Water 3,598,240 3,363,021 235,219
<br />Street Light 80,179 85,755 (5,576)
<br />Total enterprise funds 12,886,443$ 12,706,107$ 180,336$
<br />
<br />Enterprise Funds Change in Financial Position
<br />Net Position
<br />as of December 31,
<br />
<br />
<br />In total, the net position of the City’s enterprise funds increased by $180,336 during the year ended
<br />December 31, 2024. The City’s ongoing investment in water, sewer, and storm water infrastructure
<br />contributed to the increase in net investment in capital assets, while reducing unrestricted net position.
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