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<br />
<br />
<br />AMITY MUTUAL IRRIGATION COMPANY
<br />HOLLY, COLORADO
<br />
<br />STATEMENT OF INCOME and EXPENSES
<br />For Years Ended December 31, 1999 and 1998
<br />
<br /> 1222. l22B.
<br />Assessments $ 485,710 $ 485,710
<br />Interest Earned 4,358 3,411
<br />Supplie~ and Equipment Sold 687 490
<br />i" Certificate Fees 545 685
<br />Oil and Gas Royalties 1,021 1,259
<br />Pasture, Office, House Rent 4,725 3,966
<br />Dragline and Dozer Work 683 4,060
<br />Water Sold 2,367 0
<br />Fuel Tax Refund 1,309 777
<br />Other Refunds 136 26
<br />Fort Lyon Settlement 8,999 4,073
<br />Headgates Installed and Repaired 1,221 1,387
<br />Insurance Claim and Refunds 7,269 313
<br />Labor 386 6
<br />Permits 2,000 0
<br />Gain (Loss) Sale of Fixed Assets 1,288 0 (.
<br /> TOTAL INCOME $ 522,704 $ 506,163
<br />.~. OPERATING and ADMINISTRATIVE EXPENSES
<br />Salaries $ 170,082 $ 180,067
<br />Repairs and Maintenance 8,244 23,276 '0
<br />Employee Vehicle Expense 13,163 14,667
<br />Fuel, Repairs and Supplies 114,559 118,859
<br />R.E.A. 2,763 2,940
<br />Ditch Association Assessments 4,752 2,376
<br />Director Fees and Travel 6,567 7,851
<br />Office Supplies and Expense 5,462 4,889
<br />Telephone 4,199 4,626
<br />Taxes and Licenses 1,198 1,013
<br />Taxes - Payroll 11,685 12,515
<br />Insurance 19,058 24,978
<br />Medical Insurance 5,284 4,931
<br />Legal Expense 30,339 28,199
<br />Engineering Fees 7,829 14,162
<br />Professional Fees 1,781 1,762
<br />Interest Expense 13,000 15,008
<br />Litigation Interest 1,073 0
<br />Depreciation 42,936 58,678
<br />Fort Lyon Settlement 36,108 29,770
<br />Tower Rent 1,011 1,064
<br />Miscellaneous 2.874 2,975
<br /> TOTAL EXPENSES 503,967 554,606
<br /> NET GAIN (LOSS) $ 18,737 $( 48,443)
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<br />
<br />SEE ACCOUNTANT'S REVIEW REPORT.
<br />
<br />EXHIBIT C
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