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Water Supply/treatment improvements$320,000 <br />WaterLeasePayments $448,550 <br />PlannedDistributionReplacements $200,000 <br />* <br />Total Year Desirable Capital BudgetApproximately:$4,300,000/yr <br />(Minimal growth scenario) <br />* <br />Allow for New Debt in 2011 since larger than early payments – Early NISP not additional. <br />The average capital requirement for the next 5 years is $3,669,000. After 2014, the projected <br />amount (without inflation and with low growth) is about $4,200,000. Since there is a realistic <br />possibility of enough additional customers by 2015to cover that amount, the setting of a pro <br />$3,700,000 is reasonable. <br />forma design capital budget of <br />3.5Water Enterprise Fund Revenue <br />Based on audited reports, annual revenues from all water proceeds and expenses are as <br />follows: <br />YearRevenueCapital Outlay O&MFund Balance <br />ExpendituresGAAP Basis <br />2006$5,842,534$1,618,167$4,947,735$978,972 <br />2005$5,494,276$ 750,098 $4,897,349$623,014 <br />2004$5,038,099$ 710,267 $4,653,957$364,359 <br />Capital improvement program projects can only proceed as fund revenues allow. Capital outlay <br />from 2004 – 2006 averaged $1,026,177 annually, considerably less than the average capital <br />requirement as set forth above. Additionally, the Water Fund has significant long term bond <br />debt for notes obtained to construct the water treatment plant and to convert to the Colorado Big <br />Thompson water supply system.Water sales are important to the Water Fund to pay off the <br />long term debt and to be able to proceed with capital improvements in the system. <br />City of Fort Morgan Water Conservation PlanPage 27 <br />