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<br />MANAGEMENT'S DISCUSSION AND ANALYSIS - CONTINUED
<br />
<br />TABLE A
<br />Condensed Financial Data
<br />
<br /> Total
<br /> Dollar Percent
<br /> 2002 2001 Change Change
<br />Other Assets $1,993,668 $2,436,398 ($442,730) (18.2%)
<br />Capital Assets $4,089,664 $3,591,530 $498,134 13.9%
<br />Total Assets $6,083,332 $6,027,928 $55,404 0.9%
<br />Current Liabilities $623,669 $592,800 $30,869 5.2%
<br />Non Current Liabilities $1,037,918 $1,017,241 $20,677 2.0%
<br />Total Liabilities $1,661,587 $1,610,041 $51,546 3.2%
<br />Invested in Capital Assets $3,665,223 $3,157,289 $507,934 16.1%
<br />Restricted $232,188 $227,151 $5,037 2.2%
<br />Unrestricted $1,148,003 $1,626,247 ($478,244) (29.4%)
<br />TOTAL NET ASSETS $5,045,414 $5,010,687 $34,727 0.7%
<br />. Total Operating Revenues $645,639 $658,309 ($12,670) (1.9%)
<br />Total Operating Expenses $736,747 $625,448 $111,299 17.8%
<br />Operating Income (Loss) ($91,108) $32,861 ($123,969) (377.3%)
<br />Nonoperating Revenue $144,058 $176,381 ($32,323) (18.3%)
<br />Nonoperating Expense $18,223 $18,759 ($536) (2.9%)
<br />Total Nonoperating Revenue $125,835 $157,622 ($31,787) (20.2%)
<br />Change in Net Assets $34,727 $190,483 ($155,756) (81.8%)
<br />Beginning Net Assets $5,010,687 $4,820,20'4 " $190,483 4.0%
<br />Ending Net Assets $5,045,414 $5,010,687 $34,727 0.7%
<br />
<br />. Capital Asset and Debt Administration
<br />
<br />CAPITAL ASSETS
<br />
<br />As of December 31, 2002 the District's capital assets were $3,665,223 (net of
<br />accumulated depreciation and debt). This investment in capital assets included buildings,
<br />equipment (i.e. pumps, construction equipment, trucks, office computers and copiers) and
<br />delivery canals.
<br />
<br />Major capital asset purchases for the current fiscal year are the following:
<br />
<br />· Capital expenditures of $17,800 were made to purchase a maintenance
<br />vehicle.
<br />· A capital expenditures of $670, 111 was made for canal improvements.
<br />
<br />Note D on page 11 of this report gives additional detail of the District's capital assets.
<br />
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