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I
<br /> ILOGAN WELL USERS,INC.
<br /> STATEMENTS OF ACTIVITIES
<br /> IYears Ended December 31,2012 and 2011
<br /> 2012 2011
<br /> IChanges in unrestricted net assets:
<br /> Revenue:
<br /> Member assessments
<br /> I Administrative fees $ 89,000 $ 89,000
<br /> Well certification 15,550 14,700
<br /> Water assessments 517,407 $ 464,701
<br /> I SPWRAP water credits - 145,715
<br /> Other income 175 327
<br /> Interest income 605 805
<br /> ITotal revenue 622,737 715,248
<br /> Expenses:
<br /> I Program services(water-related expenses):
<br /> Recharge 418,904 445,134
<br /> Engineer expense 98,812 8,377
<br /> Augmentation 88,589 -
<br /> I Logan Prewitt 33,858 20,859
<br /> Legal fees 23,850 5,479
<br /> SPWRAP water credit reimbursement-recharge 49 71,227
<br /> I SPWRAP water credit reimbursement -wells - 74,550
<br /> General and administrative:
<br /> Personnel -
<br /> I Salary 44,500 48,208
<br /> Payroll taxes 3,728 4,268
<br /> Workers comp insurance 225 267
<br /> I Accounting 22,493 21,360
<br /> Meter reading 12,182 10,526
<br /> Meter certification expense 6,256 8,750
<br /> I Newspapers - legal notices 2,771 -
<br /> Insurance - directors 1,604 1,604
<br /> Meetings 1,175 513
<br /> Miscellaneous 713 317
<br /> IPostage 577 523
<br /> Office supplies 157 559
<br /> Penalties - 404
<br /> I Donations - 1,500
<br /> 760,443 724,425
<br /> IChange in unrestricted net assets (137,706) (9,177)
<br /> Unrestricted net assets, beginning of year 522,861 532,038
<br /> IUnrestricted net assets, end of year $ 385,155 $ 522,861
<br /> I
<br /> See accompanying notes and independent accountants'review report.
<br /> I3
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