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<br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />and is not well located to provide adequate pressure to all areas of town, These tank deficiencies <br />form the primary stimulus for the work to be undertaken in this water system upgrade project. <br /> <br />D. Financial Status of any Operating Central Facilities <br /> <br />Table 4 shows the annual operating income and expenses for the town's water utility over the <br />last three fiscal years. Water fees for 1994 were based on standard rates shown in Table 5. <br /> <br />Table 4 <br />Town of Minturn Water Utility Operating Income and Expense, FY 1992 - 1994 <br /> <br />Operating Income: 1992 1993 1994 <br />Water Fees $ 200,115 $ 206,954 $ 205,200 <br />Tap Fees $ 6,000 $0 $ 20,500 <br />Miscellaneous $ 43,287 $ 11,137 $ 3,800 <br />Total Oper. Income $ 249,402 $ 218,091 $ 229,500 <br /> <br />Operating Expenses: <br />Payroll $ 55,522 $ 59,555 $ 57,585 <br />Benefits $ 18,395 $ 13,991 $ 16,885 <br />General Expenses $ 67,559 $ 60,249 $ 66,476 <br />Interest Pre 95' $ 52,358 $ 42,365 $ 39,761 <br />Depreciation $43,309 $ 59,370 $ 62,000 <br />Total Oper. Expenses $ 237,143 $ 235,530 $ 242,707 <br />Net Oper. Income $ 12,259 ($ 17,439) ($ 13,207) <br />Non-Oper, Income $ 15,594 $ 3,182 $ 4,000 <br /> <br />Net Income <br /> <br />$ 27,853 <br /> <br />($ 14,257) <br /> <br />($ 9,207) <br /> <br />Source: Town of Minturn, form FmHA 442-7 <br /> <br />Town of Minturn Water System Upgrade Project, March, 1995 <br /> <br />12 <br />