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09/12/2006 TUE 15:55 FA% 7192545150 LAVwCD Fax ��� Peter Nichols
<br />Statement of Activities
<br />�joo�io2s
<br />The perspective of the statement of activities is of the District as a whole. The following table
<br />reflects the change in net assets for year 2004.
<br />CHANGES IN NET ASSETS
<br />Business
<br />� Charges for Govemmentai Type
<br />Functions Expenses Services Activi6es Activities Total
<br />TOTAL GOVERNMENTAL ACTIVI7IES $ 677,010 $ 29,129 $(647,881} $(&47,881)
<br />TOTAL BUSINESS-TYPE ACTIVITIES 47 11 12 099 - {35,020) (35,020)
<br />TOTAL PRIMARY GOVERNMENT S 724.129 _ S 41. 228 (647,881) (35,020) (682,901)
<br />TOTAL GENERAL REVENUES & TRANSFERS 1,065,280 591,045 1,656,325
<br />CHANGE IN NET ASSETS
<br />$ d17 �Q9 t 55f.�25 $ Q73A24
<br />The change in net assets for the govemmental activity was $ 417,399 for the year ended December
<br />31, 2004 and $589,987 for the year ended December 31, 2003. The primary reason for decrease in
<br />the change in net assets was an increase in of water leases expenditures of approximately $ 21b,000
<br />and a reduction in election expenditures of approximately $58,000.
<br />The change in net assets for the business-type activity was $556,025 for the year ended Dec�rnber 31,
<br />2004 and $716,684 for the year ended December 31, 2003. The decrease is attributed to costs
<br />incurred vvith the acquisition of water righ#s such as assessments and a reduction in the transfer from
<br />the governmental activities.
<br />REVIEW OF EXPENSES VS BUDGETARY COMPARISON GENERAL FUND
<br />Yeax Ended December 31, 2004
<br />Final Bndget Actaal
<br />'Cotal Revenues
<br />- Totat Expenditures
<br />Revenues over Expenditures
<br />' Transfers Out
<br />Net Change [n Fund Balance
<br />Fund Balance January 1
<br />�und Balance December 31
<br />I'
<br />$1,602,489 $ 1,685,764
<br />512,456 677,010
<br />1,090,033 i
<br />-1,077,246 -590,755
<br />12,793 417,399
<br />589,987 589,987
<br />662,780 1,0�7,386
<br />Revenues: Changes between actual revenues and budgeted amounts were mainly due to an increase in
<br />water leases of $23, IO2, which was not considered in the budget and increase in interest on bank
<br />accounts of $3,679 because interest was projected on a lower rate. And in increase in Specific
<br />Ownership of $56,039, which was based on 2003 totals and a decrease in ReaI Properiy taxes of
<br />($4,244). The total changes were an increase of $82,675.
<br />Expenditures: Changes between actual expenditures and budgeted amounts were primarily due to
<br />operational changes in administration, water leasing, and conservation easements resuIting higher
<br />Lega1 Fees, and assistance to other entities. Since the District's formation is still fairly new, last years
<br />budget was an initial budget attempt to provide a working guideline for the District, since then there
<br />has been items that have surfaced and considered as unexpected items wi11 need to be considered in
<br />the future. The total changes in expenditures showed an increase of $ 164,554.
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