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Water Fund Summary <br />194 <br />The Water Fund includes the activities associated with the City’s water distribution system. Its primary <br />195 <br />funding source are fees charged to water customers. <br />196 <br />197 <br />The following table depicts the 2014 financial activity for the Water Fund for the fiscal period ending <br />198 <br />September 30, 2014 (unaudited). <br />199 <br />200 <br />20142014%% <br />BudgetActualActualExpect.Diff. <br />Revenues <br />Charges for services9,206,200$ 4,205,727$ 45.7%54.7%-9.0% <br />Interest earnings- - n/an/an/a <br />Miscellaneous2,000 200 10.0%256.8%-246.8% <br />Total Revenues$ 4,205,9279,208,200$ 45.7%54.8%1.1% <br />Expenditures <br />Water operations <br /> 5,022,2469,208,200 54.5%61.1%-6.6% <br />Total Expenditures$ 5,022,2469,208,200$ 54.5%61.1%-6.6% <br />201 <br />202 <br />Comments: <br />203 <br />Water Fund revenues and expenditures are near expected levels. <br />204 <br />205 <br />The Water Fund is currently in poor financial condition with no cash reserves; although the Fund’s <br />206 <br />overall financial condition has been improving in recent years. An internal loan has been made from <br />207 <br />the Sanitary Sewer Fund to the Water Fund to cover prior period operating losses. Future rate increases <br />208 <br />will be needed to repay the internal loan and to offset projected increases in operational and capital <br />209 <br />replacement costs. <br />210 <br />211 <br />212 <br />Page 10 of 14 <br />