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<br /> IBudgeted Amounts Variance with Final Budget
<br /> Favorable
<br /> Original Final Actual (Unfavorable)
<br /> I Nonoperating revenues (expenses)
<br /> Inclusion fees 1,250 1,250 (1,250)
<br /> I Ad valorem charges 24,000 24,000 23,903 (97)
<br /> Interest and dividends 12,000 12,000 24,771 12,771
<br /> Pasture lease 3,500 3,500 3,080 (420)
<br /> Water rentals and leases 20,000 20,000 15,235 (4,765)
<br /> I Property and other taxes 150,268 150,268 155,907 5,639
<br /> Forfeited developer deposits 64,116 64,116
<br /> Gain on disposal of assets 375,000 375,000 144,693 (230,307)
<br /> I Loan proceeds 460,000 460,000 (460,000)
<br /> Amortization expense (9,000) (9,000) (5,572) 3,428
<br /> Interest expense (162,153) (162,153) (158,702) 3,451
<br /> Principal retirement (239,066) (239,066) (239,065) 1
<br /> Total nonoperating revenues
<br /> (expenses) 635,799 635,799 28,366 (607,433)
<br /> INet loss before capital
<br /> contributions (281,015) (281,015) (506,575) (225,560)
<br /> ICapital contributions 174,000 174,000 330,212 156,212
<br /> Change in net assets $ (107,015) $ (107,015) (176,363) $ (69,348)
<br /> I Adjustments to GAAP Basis
<br /> Deduct depreciation (562,790) .
<br /> Add capital purchases 1,367,590
<br /> IAdd principal retirement 239,065
<br /> Change in net assets-
<br /> GAAP Basis 867,502
<br /> Net assets at beginning of year 25,075,961
<br /> Net assets at end of year $25,943,463
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<br /> -29-
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