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<br /> CITY OF ST. ANTHONY '
<br /> NOTES TO FINANCIAL STATEMENTS
<br /> DECEMBER 31 , 1999
<br /> Note 8. . Segment Information for Enterprise Funds
<br /> Segment information for each of the enterprise funds maintained by the City for the
<br /> year ended December 31 , 1999 is as follows: .
<br /> Liquor Utility
<br /> Fund Fund Totals
<br /> ------------ ------------ ------------
<br /> Operating Revenues $1 ,245, 120 $1 ,123,893 $2,369,013 ,
<br /> Operating Expenses 1 ,031 ,997 1 , 173,377 2,205,374
<br /> ------------ ------------ ------------
<br /> Operating Income' (Loss) 213, 123 (49,484) _163,639 1
<br /> Nonoperating Revenues (Expenses) (7,898) 144,082 136,184
<br /> ------------ ------------ ------------
<br /> Net Income 205,225 94,598 299,823 '
<br /> Transfers to Other Funds (65,000) (65,000)
<br /> ------------ ------------ ------------
<br /> Net Change in Retained Earnings $140,225 $94,598 $234,823 ,
<br /> ------------ ------------ ------------
<br /> Total Assets $2,334,705 $6,847;027 $9,181 ,732 '
<br /> Total Liabilities 1 ,277,794 184, 191 1 ,461 ,985
<br /> ------------ ------------ ------------
<br /> Total Equity -$1 ,056,911- -$6,662,836- -$7,719,747- '
<br /> Working Capital $579,594 $5,716,140 $6,295,734 ,
<br /> Bonds Payable 845,000 845,000
<br /> Notes Payable 7,849 7,849
<br /> Loans Payable 30,000 '
<br /> Fixed Asset Additions 13,903 26,556 40,459
<br /> Depreciation 91 ,081 97,744 188,825
<br /> Note 9. Compensated Absences
<br /> City employees are entitled to vacation pay based upon length of employment. In addi-
<br /> tion, the City has established a severance pay policy; this policy provides for sever-
<br /> ance payments upon termination of employment based upon accumulated sick leave accrued,
<br /> subject to certain conditions and specified maximums. Vested benefits totaled $382,890
<br /> as of December 31 , 1999 and is recorded in the Employee Benefit Fund. Transfers from ,
<br /> the General Fund have provided the funding for the liability associated with govern-
<br /> mental fund types. For proprietary fund types, the liability is accrued and expensed
<br /> in each fund as incurred; the liability is subsequently transferred to this fund with ,
<br /> a corresponding amount recorded as due from these funds.
<br /> The Employee Benefit Fund had a fund balance deficit of $94,773 as of December 31 ,
<br /> 1999. '
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