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IMANCOS WATER CONSERVANCY DISTRICT <br /> STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET ASSETS <br /> I PROPRIETARY FUND <br /> Year Ended December 31, 2011 <br /> IWater Activity <br /> Enterprise <br /> I <br /> Fund <br /> OPERATING REVENUES <br /> Water assessments $108,209 <br /> I Hydro plant revenues 28,385 <br /> Contract fees 42,596 <br /> Total Operating Revenues 179,190 <br /> IOPERATING EXPENSES <br /> General and administrative 22,224 <br /> I Salaries 58,138 <br /> Payroll taxes 4,446 <br /> Fringe benefits 14,804 <br /> Contract services 32,340 <br /> IInsurance 16,748 <br /> Repairs and maintenance 24,176 <br /> Supplies 5,323 <br /> I Utilities 14,051 <br /> Miscellaneous 546 <br /> Depreciation 24,028 <br /> ITotal Operating Expenses 216,824 <br /> Operating Income (Loss) (37,634) <br /> INON-OPERATING REVENUES (EXPENSES) <br /> Rehabilitation project income 622,292 <br /> I Interest income 2,819 <br /> Rehabilitation project expense (622,292) <br /> Gain on sale of assets 303 <br /> IInterest expense (39,149) <br /> Non-Operating Income (Loss) (36,027) <br /> 1 Net Income (Loss) before Operating Transfers (73,661) <br /> IOperating Transfers 18,200 <br /> Decrease in Net Assets (55,461) <br /> I NET ASSETS <br /> Beginning of Year (729,946) <br /> End of Year ($785,407) <br /> I <br /> I See accompanying notes to the basic financial statements. <br /> 6 <br />