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CITY OF ST. ANTHONY NOTES TO FINANCIAL STATEMENTS DECEMBER 31, 1981 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, 1981: Liquor Fund Land $ 2,232 Land Improvements 8,920 Buildings and Structures 472,014 Furniture, Fixtures and Equipment 257,685 Distribution and Collection System 740,851 Less Accumulated Depreciation 359,278 $381,573 Note 3. McCTODOlitan Waste Control Commission Water Fund $ 2,000 5,006 665,202 97,198 1,467,523 2,236,929 1,207,060 Sewer Fund $ 3,645 9,000 63,637 1,046,615 1,122,897 508,326 $1,029,869 $ 614,571 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. Revenue will be recorded as credits are received from the Commission. Deferred revenue is recorded for the remaining balance due to the uncertainty of when credits will be issued to the City. 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 operations as received. -14- .owI.n s..E.�ESDN a Co.