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Water Fund Summary <br />160 <br />The following table depicts the 2012 financial activity for the Water Fund for the fiscal period ending June <br />161 <br />30, 2012 (unaudited). <br />162 <br />163 <br />20122012%% <br />ActualActualExpect.Diff. <br />Budget <br />Revenues <br />Charges for services7,000,750$ 2,057,726$ 29.4%29.8%-0.4% <br />Interest earnings- - n/an/an/a <br />Miscellaneous2,000 80 4.0%0.0%4.0% <br />Total Revenues <br />$ 2,057,8067,002,750$ 29.4%29.7%-0.4% <br />Expenditures <br /> 2,496,0467,002,750 35.6%28.9%6.7% <br />Water operations <br />Other- - n/an/an/a <br />Total Expenditures$ 2,496,0467,002,750$ 35.6%28.9%6.7% <br />164 <br />165 <br />Comments: <br />166 <br />Water Fund revenues and expenditures are near expected levels. <br />167 <br />168 <br />The Water Fund is currently in poor financial condition with virtually no cash reserves; although the Fund’s <br />169 <br />overall financial condition has been improving in recent years. An internal loan has been made from the <br />170 <br />Sanitary Sewer Fund to the Water Fund to cover prior period operating losses. Future rate increases will be <br />171 <br />needed to repay the internal loan and to offset projected increases in operational and capital replacement <br />172 <br />costs. <br />173 <br />174 <br />175 <br />Page 10 of 13 <br /> <br />