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Little Thompson Water District <br /> Management's Discussion and Analysis <br /> For the Year Ended December 31,2009 and 2008 <br /> Review of Revenues <br /> Year Ending December 31, <br /> 2009 2008 <br /> Operating Revenues <br /> Water—treated 5,635,585 6,036,459 <br /> Service and other revenue 191,246 114,344 <br /> Subtotal 5,826,831 6,150,803 <br /> Non-Operating Revenues <br /> Earnings on investments 53,122 116,536 <br /> Miscellaneous income - 35,273 <br /> Realized gain on disposal of capital assets - 8,804 <br /> Unrealized gain on investments 17,536 3,391 <br /> Subtotal 70,658 164,004 <br /> Total Revenue 5,897,489 6,314,807 <br /> Water sales were$5,826,631 or 13.26% under budget due to unseasonably cool weather and less demand <br /> from District customers. Earnings on investments were down $63,414 from 2008 due to a lower rate of return <br /> being paid to the District during 2009 resulting from the current economic situation as well as use of reserves <br /> in 2008. Total operating and non-operating revenues were down $417,318 from 2008 primarily due to a <br /> decrease in treated water sales and earnings on investments. <br /> 4 <br />