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CITY OF ST. ANTHONY NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 1980 Note 2. Property, Plant and Equipment The following is a summary of the property, plant and equipment of the proprietary fund types at December 31, 1980: Liquor Water Sewer Fund Fund Fund Land $ 2,232 $ 2,000 $ 3,645 Land Improvements 8,920 5,006 Buildings and Structures 468,089 665,202 9,000 Furniture, Fixtures and Equipment 248,473 96,018 63,637 Distribution and Collection System 1,466,822 1,027,862 727,714 2,235,048 1,104,144 Less Accumulated Depreciation 323,680 1,152,139 483,877 Totals $404,034 $1,082,909 $ 620,267 Note 3. Metropolitan Waste Control Commission Under terms of an agreement with the Metropolitan Waste Control Commission, the City will be repaid the reserve capacity charges advanced to the Commission in annual installments including interest through 1988. These advances were charged against net income of prior years and the repayment will be reflected as income when received. The City received from the Metropolitan Waste Control Commission a refund for past sewer availability charges. Credits against future sewer availability charges payable will be issued by the Commission to repay this refund. Deferred revenue was recorded due to the uncertainty of when credits will be issued to the City. Revenue will be recorded as credits are received from the Commission. Another receivable from the Metropolitan Waste Control Commission, and the corresponding deferred gain of the Utility Funds, represents the City's equity in the City's sewer system which was acquired by the Commission January 1, 1971. This receivable will be paid to the City by issuing credits annually through the year 2000, with interest, against future disposal charges from the Commission. These credits will be reflected in the statement of income as received. -14-