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Center of Colorado Water Conservancy District <br />Park County Water for Park County" <br />P.O. Box 1747 - 848 Front St - Fairplay. CO 80440 -1747" <br />Tol. 719 -836 -2120 Fax. 719- 836 -2120 <br />MANAGEMENT'S DISCUSSION AND ANALYSIS <br />This section of the Center of Colorado Water Conservancy District's (referred to as the District) <br />annual financial report presents our discussion and analysis of the District's financial` <br />performance during the calendar year ended December 31, 2009. Please read it m conjunction <br />with the financial statements which follow. <br />FINANCIAL HIGHLIGHTS <br />The District's net assets have increased more than <br />$2,409,003 (2008) to $2,860,699. <br />Our unrestricted net assets improved significantly; an i <br />($33,894) (2008) to $675,087 at the end of 2009. <br />Total Assets increased approximately 16% from $4 <br />2009. <br />Total Liabilities, increased almost 13% <br />2009. <br />Revenues increased to $667,876 <br />taxes remained essentially state, <br />decreased over 11 % year -ova <br />Change in Net <br />expenses, with <br />from a deficit <br />$5,205,610 at year end <br />at year end <br />sn)rig December 31, 2009. Real property <br />d $2,419, while specific ownership taxes <br />ues resulted from increased water lease fees <br />1 improved to $451,697 on both higher revenues and <br />pproximately 2% year -over. <br />)bring our governmental fund balances reported an Excess of <br />urces Over Expenditures in the amount of $705,138 for the 2009 <br />:eds of $450,000 contributed significantly to this result. <br />eir focus and measurement methods, these financial presentations reflect <br />conserving and defending the water resources of Park County. <br />IS ANNUAL REPORT <br />This annual report consists of several parts; the basic financial statements, and an optional <br />section which consists of the supplementary schedule as listed in the table of contents. The <br />basic financial statements include two kinds of statements that present different views of the <br />District; Government -wide and individual fund. <br />-2- <br />