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TOWN OF DEBEQUE, COLORADO <br />NOTES TO FINANCIAL STATEMENTS - continued <br />December 31, 2005 <br />N�TE K- PROPRIETARY FUND BUDGETS, BUDGET AND ACTUAL <br />The Town's proprietary fund budgets are adopted with differences from generally accepted <br />accounting principles. A comparison of budget and actual expendituxes with adjustments necessary <br />to convert the expenses at the end of the year on the generally accepted accounting principles <br />(GAAP) basis to the budgetary basis are as follows: '' <br />Revenues reported in accordance with generally <br />accepted accounting principles (GAAP): <br />Operating revenues <br />Interest income <br />Contributions <br />Tota1 Revenues GAAP Basis <br />Modification to GAAP revenues: <br />Revenues on budgetary basis <br />Budget <br />Revenues - Variance - (unfavorable) <br />Expenses reported in accordance with generally <br />aceepted accounting principles (GAAP); <br />Operating expenses <br />Interest <br />Total expenses GAAP Basis <br />1Vlodification to GAAP expenses: <br />Add debt service principal payments <br />Add capital outlay expenditures <br />Expenditures on budgetary basis <br />Budget <br />Expenses - Variance - favorable (unfavorable) <br />Total Fund Variance - (unfavorable) <br />' Water Sewer <br />$' 106,553 $ 40,372 <br />' 11,356 3,162 <br />', 256,000 18,000 <br />� <br />! 373,909 61,534 <br />', 373,909 61,534 <br />' 331,500 56,200 <br />$ 42,409 $ 5,334 <br />' Water Sewer <br />--r- <br />� <br />$' 146,185 $ 76,595 <br />' 11,724 - <br />' 157,909 76,595 <br />, 22,328 - <br />� 461,109 - <br />� 641,346 76,595 <br />1630,424 84,574 <br />$' (10,922} $ 7,979 <br />$' 31,487 $ 13,313 <br />25 <br />, .. ' <br />' <br />� <br />' <br /> � _. <br />