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2013_0826_packet
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2013_0826_packet
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8/30/2013 2:06:35 PM
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Page 10 of 13 <br />Water Fund Summary 175 <br />The following table depicts the 2013 financial activity for the Water F und for the fiscal period ending 176 <br />June 30, 2013 (unaudited). 177 <br /> 178 <br />20132013%% <br />Budget Actual Actual Expect.Diff. <br />Revenues <br />Charges for services7,839,440 $ 2,282,365 $ 29.1%30.2%-1.1% <br />Interest earnings- - n/an/an/a <br />Miscellaneous2,000 - 0.0%2.0%-2.0% <br />Total Revenues 7,841,440 $ 2,282,365 $ 29.1%30.2%-0.8% <br />Expenditures <br />Water operations 7,841,440 2,174,376 27.7%32.0%-4.3% <br />Total Expenditures 7,841,440 $ 2,174,376 $ 27.7%32.0%-4.3% 179 180 <br />Comments: 181 <br />Water Fund revenues and expenditure s are near expected levels. 182 <br /> 183 <br />The Water Fund is currently in poor financial condition with no cash reserves; although the Fund’s 184 <br />overall financial condition has been improving in recent years. An internal loan has been made from 185 <br />the Sanitary Sewer Fund to the Water Fund to cover pr ior period operating losses. Future rate increases 186 <br />will be needed to repay the internal loan and to offset projected increases in operational and capital 187 <br />replacement costs. 188 <br /> 189 <br />190
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