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<br />Management Discussion and Analysis <br />February 6, 2004 <br />Page VII <br /> <br />Business-type activities: Business-type activities increased the City's net assets by $2,504,681, accounting for 72.8 <br />percent of the total growth in the City's net assets. Key elements of this increase are as follows: <br /> <br />. Charges for services for business-type activities increased by $22,293, or 5.5 percent, over last year as a result <br />of a modest increase in demand. <br /> <br />. Entries made to accommodate the capital asset and debt related provisions of GASB Statement No. 34 account <br />for a significant portion of the increase. <br /> <br />. Investment earnings increased by $27 ,003 for business-type activities because of more aggressive investment <br />strategies and an overall increase in the size of the investment portfolio (due, in part, to the temporary <br />investment of debt proceeds.) <br /> <br />Expenses and Program Revenue - Business-type Activities <br /> <br />Expenses <br /> <br />Sewer <br />$270,450 <br /> <br /> <br />Water <br />$201,323 <br />