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<br /> <br />Proprietary funds. The City maintains two different types of proprietary funds. Enterprise <br />funds are used to report the same functions presented as business-type activities in the <br />government-wide financial statements. The City uses enterprise funds to account for its water <br />and sewer, storm water, and municipal liquor operations. Internal service funds are an <br />accounting device used to accumulate and allocate costs internally among the City various <br />functions. The City uses an internal service fund to account for its compensated absences, OPEB <br />and pension benefits. Because these services predominantly benefit governmental rather than <br />business-type functions, they have been included within governmental activities in the <br />government-wide financial statements. <br /> <br />Proprietary funds provide the same type of information as the government-wide financial <br />statements, only in more detail. The proprietary fund financial statements provide separate <br />information for the water and sewer, storm water, and municipal liquor operations, which are <br />considered to be major funds of the City. <br /> <br />The basic proprietary fund financial statements can be found on Statements 6 through 8 of this <br />report. <br /> <br />Notes to the financial statements. The notes provide additional information that is essential to <br />a full understanding of the data provided in the government-wide and fund financial statements. <br />The notes to the financial statements can be found following Statement 8 of this report. <br /> <br />The combining statements referred to earlier in connection with non-major governmental funds <br />are presented immediately following the required supplementary information on budgetary <br />comparisons, OPEB and pension information. Combining and individual fund statements and <br />schedules can be found on Statements 17 through 24 of this report. <br /> <br />Government-wide Financial Analysis <br /> <br />As noted earlier, net position may serve over time as a useful indicator of a City’s financial <br />position. Assets and deferred outflows of resources exceeded liabilities and deferred inflows of <br />resources by $48,440,876 at the close of the most recent fiscal year. <br /> <br /> <br />21