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CITY OF ARDEN HILLS, MINNESOTA <br />STATEMENT OF REVENUES AND EXPENSES <br />BUDGET AND ACTUAL <br />FOR THE THREE MONTHS ENDED MARCH 31 <br />WATER FUND <br />Percent <br />Received or <br />Expended <br />Actual Actual Variance - Based on <br />Annual Thru Thru Favorable Actuals Thru <br />Budget 03/31/23 03/31/24 (Unfavorable) 03/31/24 <br />REVENUES <br />User charges <br />$ 3,116,020 <br />$ 939 $ <br />373 $ <br />(566) <br />39.7 % <br />Connection charges <br />13,750 <br />- <br />- <br />- <br />N/A <br />Other <br />546,860 <br />(3,127) <br />3,299 <br />6,426 <br />-105.5 <br />Interest earnings <br />- <br />7,318 <br />8,628 <br />1,310 <br />117.9 <br />TOTAL REVENUES <br />3,676,630 <br />5,130 <br />12,300 <br />7,170 <br />239.8 <br />EXPENSES <br />Personnel expenses <br />433,770 <br />85,044 <br />91,312 <br />(6,268) <br />107.4 <br />Supplies and materials <br />54,000 <br />1,333 <br />142 <br />1,191 <br />10.7 <br />Other services and charges <br />352,730 <br />57,670 <br />70,730 <br />(13,059) <br />122.6 <br />Water purchases <br />1,387,000 <br />- <br />- <br />N/A <br />Depreciation <br />376,640 <br />N/A <br />Capital expenses <br />1,497,100 <br />- <br />- <br />N/A <br />Debt service <br />250,050 <br />223,475 <br />229,986 <br />(6,511) <br />102.9 <br />TOTAL EXPENSES <br />4,351,290 <br />367,522 <br />392,170 <br />(24,647) <br />106.7 <br />Bond Proceeds <br />- <br />- <br />- <br />N/A <br />Transfers out <br />100,000 <br />N/A <br />EXCESS (DEFICIT) REVENUES OVER EXPENSES <br />$ (774,660) <br />$ (362,392) $ <br />(379,870) $ <br />(17,478) <br />104.8 % <br />