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163 Water Fund Summary <br />164 The following table depicts the 2008 financial activity for the Water Fund for the fiscal period ending <br />165 SeptemDer _30, 2008 unaudited). <br />166 <br />Revenues <br />Charges for services <br />Interest earnings <br />Miscellaneous <br />Total Revenues <br />Expenditures <br />Water op erations <br />Other <br />2008 <br />2008 <br />% <br />% <br />Budget <br />Actual <br />Actual <br />E <br />Diff. <br />5.1242.1560 <br />2.1947.1478 <br />56.2% <br />46.8% <br />9.4% <br />2.1000 <br />0.0% <br />0.0% <br />0.0% <br />2.1000 <br />4.1629 <br />231.5% <br />142.6% <br />88.9% <br />5.1246.1560 <br />2.1952.1107 <br />56.3% <br />46.8% <br />9.5% <br />5.1173.1800 3.1161.1423 61.1% 67.2% - . 1 % <br />-1 -1 n/a n/a n/a <br />Total Expenditures $ 5.1173.1800 $ .1I 1 .1423 61.1% 67.2% - . 1% <br />167 <br />168 Comments.- <br />169 Water Fund revenues are above expected levels due to timing differences in billing out 3'd quarter charges <br />1 "7 0 as compared to previous years. Expenditures are below expected levels due to timing differences in paying <br />1 "7 1 for water from St. Paul as compared to previous years. <br />1 "72 <br />1 "7 3 The Water Fund is currently in poor financial condition with no cash reserves. Although a positive <br />1 "74 operating surplus was realized in 2007, an internal loan of $,500,000 has been made from the Sanitary <br />1 "7 5 Sewer Fund to the Water Fund to cover prior period operating losses. Future rate increases will be needed <br />1 "7 6 to repay the internal loan and to offset projected increases in operational and capital replacement costs. <br />1 7 7 <br />Page I I of 14 <br />