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09/12/2006 TUE 15:56 FAg 7192545150 LAVVPCD Fax ��� Peter Nichols � 008/029 <br />I: <br />i <br />4 <br />� Revenues: Changes between actual revenue and budgeted amounts were primarily due to operational <br />changes resulting from water leasing, application easement fee, baseline inventory fee and interest. <br />j. Projected amount were determined by a productive conservation easement year. However, due to <br />� past problems with appraisal methodology, the 2004 conservation easement showed a very slow year. <br />REVIEW OF EXPENSES VS BUDGETARY COMPARISON ENTERPRISE FUND <br />2ooa • <br />Revenues: Final Budget Actual <br />Water Leasing $40,000 $12,099 <br />Application Easement Fee 10,500 0 <br />Baseline inventory Fae 21,000 0 <br />Interest 1,500 290 <br />Total Revenues 73,000 12,389 <br />Expenditures: Changes between actual expenditures and budgeted amounts were primarily due to <br />� small changes to operational changes resulting in water storage, administration, assessment fees, and <br />debt sexvices. The majority of changes came from interest, which reflected an increase of $29,825 and <br />water acti�vity amounts that are transferred in from Governmentat Activities of $594,755. Since the <br />District's formation is still fairly new, last years Enterprise budget was an initial budget attempt to <br />provide a working guideline for the Disfict, since then there has been items that have surfaced that <br />will need to be considered in the future. <br />Expenditures:2004 Final Budget Actual <br />Waterstorage Fees $5,000 $i,798 <br />General & AdminisErative 27,000 4,352 <br />Water Assessments 16,OQ0 11,044 <br />Debt Service 23,300 0 <br />tnterest 100 29,925 <br />Total Expenditures 77,400 47,119 <br />. Revenues over/under expenditures 1,600 34,730 <br />Transfers In 0 590,755 <br />Net change in net assets 1600 556,025 <br />Canital Activitv <br />The LAVWCD mission is to participate in water-related projects that will embody thoughtful <br />conserva#ion, responsible growth, and beneficial water usage within the Lower Arkansas <br />Valley. One attempt in keeping water in the valley is to purchase water/land with the end <br />result that the water will remain in the valley. <br />. A listing of water rights pu.rchase by the District for 2004 is as follows: <br />1. Meredith Lake & Colorado Canal — 35 shares water <br />2. Bessemer Ditch land and water rights- 73.6 shares of water and 71.2 acres of land <br />. 3. Lower Arkansas Water Management Association water- 50 shares of water <br />i: <br />i: <br />