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City of Centerville MI N March 20, 2013 i t Page 11 Enterprise Funds Water Fund The results of the operations and cash position of the Water fund for the past three years are as follows: 2010 2011 2012 Total Percent Total Percent Total Percent Operating revenues $ 305,056 100.0 % $ 277,217 100.0 % $ 320,631 100.0 % Operating expenses 345,071 113.1 373,184 134.6 349,521 109.0 Operating loss (40,015) (13.1) (95,967) (34.6) (28,890) (9.0) Nonoperating revenues 175,709 57.6 16,057 5.8 15,599 4.9 Income (loss) before contributions and transfers 135,694 44.5 (79,910) (28.8) (13,291) (4.1) Capital contributions from other funds /developers - - 59,698 21.5 62,294 19.4 Change in net position $ 135,694 44.5 % $ (20,212) (7.3) % $ 49,003 15.3 % Cash and temporary investments $ 961,881 $ 1,074,848 $ 1,288,411 Water Fund Operations $1,400,000 — -- $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $- $(200,000) 2010 2011 2012 • Operating revenues ■ Operating expenses ■ Nonoperating revenues • Change in net position ■ Cash and temporary investments The Water fund operated at a loss in 2012, primarily due to depreciation expense. The cash balance, however, has increased over the prior two years due to positive cash flows from operations. Rates are analyzed each year by staff. This is a good practice and should be continued. 952. 8-35.9090 + Fax 952.835.3261 www.aemepas.com 122