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Water Fund Summary <br />175 <br />The following table depicts the 2013 financial activity for the Water Fund for the fiscal period ending <br />176 <br />March 31, 2013 (unaudited). <br />177 <br />178 <br />20132013%% <br />ActualActualExpect.Diff. <br />Budget <br />Revenues <br />Charges for services7,839,440$ 769,814$ 9.8%6.6%3.2% <br />Interest earnings- - n/an/an/a <br />Miscellaneous2,000 - 0.0%1.3%-1.3% <br />Total Revenues$ 769,8147,841,440$ 9.8%6.6%3.2% <br />Expenditures <br />Water operations <br /> 898,6747,841,440 11.5%10.4%1.1% <br />Total Expenditures$ 898,6747,841,440$ 11.5%10.4%1.1% <br />179 <br />180 <br />Comments: <br />181 <br />Water Fund revenues and expenditures are near expected levels. <br />182 <br />183 <br />The Water Fund is currently in poor financial condition with no cash reserves; although the Fund’s <br />184 <br />overall financial condition has been improving in recent years. An internal loan has been made from <br />185 <br />the Sanitary Sewer Fund to the Water Fund to cover prior period operating losses. Future rate increases <br />186 <br />will be needed to repay the internal loan and to offset projected increases in operational and capital <br />187 <br />replacement costs. <br />188 <br />189 <br />190 <br />Page 10 of 13 <br /> <br />