Laserfiche WebLink
<br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />t <br />t <br />I <br />I <br />I <br />, <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />In addition to the major project facilities, the Water Department owns several <br />pump stations, numerous buildings, nearly 1200 fire hydrants, laboratory <br />equipment, office furniture and equipment, miscellaneous tool s and equipment, <br />several cars and trucks, and some small construction and maintenance <br />equipment. These items are listed On the depreciation schedule in Appendix <br />F. Included on the list is the description of the property, acquisition date, <br />estimated servi ce 1 ife, cost, and accumulated depreci ati on. The facil i ti es <br />and equipment are well maintained. <br /> <br />In 1985, the Water Department owned about $54.1 million of fixed assets. The <br />net value after depreciation was about $44.9 million. The amount outstanding <br />on general obligation water bonds was about $22.4 million. <br /> <br />4.0 FINANCIAL STATUS <br /> <br />The diversity of city services and the necessity of assuring legal compliance <br />preclude recording and summarizing 411 financial activity of the city in a <br />si ng1 e account enti ty. Therefore, the accounti ng system used by the Ci ty of <br />Greeley combines several fiscal units which are accounted for in separate <br />funds. For the Water and Sewer Department, three separate funds have been <br />estab1ished--the water fund, sewer fund, and sewer lagoon fund. Only the <br />water fund will be discussed in this ~port. <br /> <br />The water fund is a proprietary fund which is used to provide water service to <br />the residents of the city. The fund is self-sustaining and self-supporting by <br />relying completely on user charges. The water fund is administered by the <br />Water Department. All acti vi ties n~cessary to provi de treated water to the <br />Ci ty I S water customers are supported by thi s fund, i nc1 udi ng admi ni strati on, <br />operati ons, maintenance, fi nanci ng and debt servi ce, and bi 11 I ng and revenue <br />coll ecti on. <br /> <br />The schedule of water general obligation bond coverage for the last ten fiscal <br />years is presented on Tab1 e 11.1. The co1 umn in the tab1 e representi ng the <br />net revenue available for debt service is derived from the gross revenues, <br /> <br />-10- <br />