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SCHEDULE 1 (Continued)
<br /> PINEWOOD SPRINGS WATER DISTRICT
<br /> SCHEDULE OF REVENUES AND EXPENDITURES -
<br /> BUDGET AND ACTUAL (BUDGETARY BASIS)
<br /> Year Ended December 31, 2011
<br /> Actual Variance-
<br /> 2011 (Budgetary Favorable
<br /> Budget Basis) (Unfavorable)
<br /> General and Administrative-
<br /> Wages $ 27,192 $ 29,136 $ (1,944)
<br /> Insurance 11,500 6,995 4,505
<br /> Professional fees 16,500 9,575 6,925
<br /> County treasurer's fees 5,500 5,300 200
<br /> Directors' fees 6,000 5,500 500
<br /> Office supplies 2,922 2,928 (6)
<br /> Payroll taxes 2,162 2,232 (70)
<br /> Dues 800 945 (145)
<br /> Miscellaneous expense 500 1,181 (681)
<br /> Travel and training 500 401 99
<br /> Telephone expense 720 715 5
<br /> Bank charges 150 115 35
<br /> Advertising 50 52 (2)
<br /> Total general and administrative expenses 74,496 65,075 9,421
<br /> Debt service
<br /> Loan origination fee 223,845 223,845 -
<br /> Principal 25,000 25,000 -
<br /> Interest 9,850 10,250 (400)
<br /> Total debt service 258,695 259,095 (400)
<br /> Capital Improvements -
<br /> System improvements 29,601 47,161 (17,560)
<br /> Aeration Project 10,000 - 10,000
<br /> Legal fees - 1,746 (1,746)
<br /> Studies and miscellaneous 33,000 - 33,000
<br /> Vehicle fund - 9,000 (9,000)
<br /> Total capital improvements 72,601 57,907 14,694
<br /> Total expenditures 583,721 526,531 57,190
<br /> Excess of revenues over(under) expenditures $ (66,525) $ 15,400 $ 81,925
<br /> The accompanying notes are an integral part of this schedule. Page 25
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