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12/21/2011 10:57 7197425420 TOWN OF LA VETA PAGE 04/11
<br />TOWN OF LA VETA, COLORADO
<br />STATEMENT OF REVENUES, EXPENDITURES - BUDGET (NON -GAAP BASIS) AND
<br />ACTUAL
<br />WATER UTILITY FUND
<br />For the Year Ended December 31,
<br />2008
<br />Variance-
<br />Favorable
<br />O^ CRATING REVENL7F,S9
<br />Odg
<br />Final
<br />(Unfavorable)
<br />Water and Sales
<br />242,
<br />242,591
<br />316 025
<br />,
<br />73,434
<br />Water Connects
<br />-
<br />-
<br />3,000
<br />3,000
<br />Miscellaneous
<br />8,000
<br />$.000
<br />-
<br />X8.004)
<br />Total Operating Revenue
<br />2%
<br />250,591
<br />MAO
<br />68AH
<br />pPERATING EXPENDMig-ES
<br />Legal and Audit Fees
<br />9,300
<br />9,300
<br />11,622
<br />(2,323)
<br />Administration
<br />5,910
<br />51910
<br />7,409
<br />(1,499)
<br />Water Salaries
<br />69,896
<br />69,8%
<br />69,843
<br />53
<br />Repairs and Maintenance
<br />8,000
<br />8,000
<br />32,844''
<br />(24,844)
<br />Payroll Taxes & Employee Benefits
<br />19,822
<br />19,822
<br />19,517-r
<br />305
<br />Water Sample and Testing
<br />16,700
<br />16,700
<br />5,5981C
<br />11,102
<br />Miscellaneous
<br />3,010
<br />3,010
<br />1,289k
<br />1,721
<br />Utilities
<br />8,200
<br />8,200
<br />8,254-+-
<br />(54)
<br />Engineering
<br />-
<br />-
<br />982ty
<br />(982)
<br />Depreciation
<br />40,421
<br />40,421
<br />401519 -r
<br />(98)
<br />Fuel
<br />1,200
<br />1,200
<br />477"'
<br />723
<br />Bad Debt Expense
<br />-
<br />-
<br />-
<br />-
<br />Contingency Fund
<br />235 576
<br />235.57§
<br />235,57.6
<br />Tot alOpe_r-ati_e-g.Ex� s
<br />418.035
<br />418,035
<br />198,354
<br />21
<br />OPERATING INCOME
<br />(167,444)
<br />(167,444)
<br />120,671
<br />OTHER REVENUES (EXPI)`TSES3
<br />Water Taps
<br />16,000
<br />16,000
<br />12,000/
<br />(4,000)
<br />Interest Income
<br />4,500
<br />4,500
<br />6,174'
<br />1,674
<br />Contributions - Grants
<br />475,000
<br />475,000
<br />400,704
<br />(74,2966)
<br />Proceeds From Debt
<br />1,134,000
<br />1,134,000
<br />602,952
<br />(531,048)
<br />Capital Outlay
<br />(1,818,000) (1,818,000)
<br />(1,078,6$7)
<br />739,313
<br />Debt Principal
<br />(11,589)
<br />(11,589)
<br />(11,589)
<br />-
<br />Interest Expense
<br />-(1,176)
<br />(1.176)
<br />(1.176)/
<br />Total Other Revenues (,.xpenses) 2 1 b
<br />(201,265
<br />(69622)
<br />INCOME (LOSSI BEFORE OPERATING
<br />TRANSFERS 36( 8,709)
<br />3( 68,_ZQ9l
<br />5104
<br />Ql?ERATING TRANSFER- S
<br />-
<br />Operating Transfers in
<br />Operating Transfers (Out).
<br />_-
<br />Total OwratjUTransf e
<br />NET INCOME (LQSS) - MON -GAA,)
<br />(63 8.709)
<br />(3b &7091
<br />51.049
<br />R
<br />.t-qndding hams -to Changgs in Net Assets
<br />Capital outlay
<br />-
<br />-
<br />1,078,687
<br />Debt Proceeds
<br />-
<br />-
<br />(602,952)
<br />Debt Principal
<br />11,589
<br />Total Recon 'li I e
<br />487.324
<br />CHANQE INN T ASSETS
<br />(368,709)
<br />(368,709)
<br />538,373
<br />T A SET-Sdanu 1
<br />368.704
<br />368.7 09
<br />1.614.196
<br />Nl✓T AS TS m
<br />-
<br />2 [ 52569
<br />The accompanying notes are an integral
<br />part of these financial statements.
<br />-29-
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