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<br />IMPERIAL IRRIGATION DISTRICT
<br />Combined Statements of Changes in District Equity
<br />Years ended December 31, 1994 and 1993
<br />
<br />Water
<br />Department
<br />
<br />Power
<br />Department
<br />
<br />Combined
<br />
<br />Retained earnings:
<br />Balance at January 1, 1994 $135,107,638 335,012,860 470,120,498
<br />Net income (loss) (5,371,801 ) 31,344,785 25,972,984
<br />Add back depreciation of fixed assets acquired
<br />through contributions (note 4) 3,188,527 1,599,684 4,788,211
<br />Balance at December 31, 1994 132,924,364 367,957,329 500,881,693
<br />Contributions in aid of construction:
<br />Balance at January 1, 1994 86,856,054 46,822,103 133,678,157
<br />Contributions received 8,555,494 3,633,246 12,188,740
<br />Heber-Mirage transmission credits (8,966,453) (8,966,453)
<br />Less depreciation of fixed assets acquired
<br />through contributions (note 4) (3,188,527) (1,599,684) (4,788,211 )
<br />Balance at December 31, 1994 92,223,021 39,889,212 132,112,233
<br />Total District equity at December 31, 1994 $225,147,385 407,846,541 632,993,926
<br />Retained earnings:
<br />Balance at January 1, 1993 $127,497,769 314,816,565 442,314,334
<br />Net income 4,675,854 18,436,615 23,112,469
<br />Add back depreciation of fixed assets acquired
<br />through contributions (note 4) 2,934,015 1,759,680 4,693,695
<br />Balance at December 31, 1993 135,107,638 335,012,860 470,120,498
<br />Contributions in aid of construction:
<br />Balance at January 1, 1993 75,885,194 54,403,468 130,288,662
<br />Contributions received 13,904,875 2,802,675 16,707,550
<br />Heber-Mirage transmission credits (8,624,360) (8,624,360)
<br />Less depreciation of fixed assets acquired
<br />through contributions (note 4) (2,934,015) (1,759,680) (4,693,695)
<br />Balance at December 31, 1993 86,856,054 46,822,103 133,678,157
<br />Total District equity at December 31, 1993 $ 221 ,963,692 381,834,963 603,798,655
<br />See accompanying notes to combined financial statements,
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