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IMANCOS WATER CONSERVANCY DISTRICT
<br /> SCHEDULE OF REVENUES AND EXPENSES, BUDGET TO ACTUAL
<br /> I WATER ACTIVITY ENTERPRISE FUND
<br /> Year Ended December 31, 2011
<br /> I Original
<br /> and Variance
<br /> Final Favorable
<br /> I Budget Actual (Unfavorable)
<br /> Revenues
<br /> Water assessments $108,496 $108,209 ($287)
<br /> I Hydro plant revenues 20,000 28,385 8,385
<br /> Interest on investments 2,400 2,819 419
<br /> Contract fees 30,679 42,596 11,917
<br /> ITotal Revenues 161,575 182,009 20,434
<br /> Expenses
<br /> General and administrative 36,267 22,224 14,043
<br /> 1 Salaries 69,638 58,138 11,500
<br /> Payroll taxes 3,722 4,446 (724)
<br /> Employee fringe benefits 14,804 (14,804)
<br /> I Contract services 26,718 32,340 (5,622)
<br /> Insurance 39,632 16,748 22,884
<br /> Repairs and maintenance 24,338 24,176 162
<br /> I Supplies 5,850 5,323 527
<br /> Utilities 11,233 14,051 (2,818)
<br /> Miscellaneous 546 (546)
<br /> I Capital expenditures 624,326 (624,326)
<br /> Interest expense 39,149 (39,149)
<br /> Debt retirement 60,000 21,290 38,710
<br /> I Total Expenses 277,398 877,561 (600,163)
<br /> Excess (Deficiency) of
<br /> Revenues over Expenses (115,823) (695,552) (579,729)
<br /> I Other Financing Sources (Uses)
<br /> Transfers from General Fund 205,000 18,200 (186,800)
<br /> Deferred grant revenues 1,387,000 622,292 (764,708)
<br /> IRehabilitation project costs (2,558,000) (622,292) 1,935,708
<br /> Loan proceeds from CWCB 180,355 180,355
<br /> I Gain on sale of assets 303 303
<br /> Unappropriated surplus 1,100,000 (1,100,000)
<br /> Total Other Financing Sources (Uses) 134,000 198,858 64,858
<br /> IChange in Net Assets (Budgetary Basis) $18,177 (496,694) ($514,871)
<br /> Adjustments to GAAP Basis
<br /> I Deferred grant revenues (622,292)
<br /> Loan proceeds from CWCB (180,355)
<br /> Capital purchases and rehabilitiation project 1,246,618
<br /> I Depreciation (24,028)
<br /> Debt retirement 21,290
<br /> Change in Net Assets (GAAP Basis) ($55,461)
<br /> I 19
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