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WATER FUND <br />The following graph presents four years of comparative operating results for the City's Water Fund: <br />Water Fund <br />Year Ended December 31, <br />$80,000 <br />$60,000 <br />$40,000 <br />$20,000 <br />$(20,000) - — <br />$(40,000 ) <br />$(60.000) <br />2018 <br />2019 <br />2020 <br />2021 <br />IIIIIIIIIII10per Rev <br />$10,040 <br />$37,538 <br />$16,042 <br />$33,051 <br />=Oper Exp <br />$21,173 <br />$55.212 <br />$73,975 <br />$36,958 <br />Oper Inc (Loss) <br />$(l 1,133) <br />$(17,674) <br />$(57,933) <br />$(3,907) <br />Inc (Loss) Before Dep <br />$(1306) <br />$(5,150) <br />$(44,464) <br />$9,562 <br />The Water Fund ended 2021 with a total net position of $603,450, a decrease of $4,432 from the prior year. <br />Of this, $672,422 represents the investment in capital assets, leaving unrestricted net position of negative <br />$68,972. <br />Operating revenue in the Water Fund increased $17,009 from the prior year. The increase is due to an <br />increase in rates and higher consumption. <br />Water Fund operating expenses for 2021 decreased $37,017 from the previous year. The decrease is due to <br />a reduction in costs for water usage from the City of Vadnais Heights. <br />-13- <br />