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<br />COLORADO WATER CONSERVATION BOARD
<br />CONSTRUCTION FUND
<br />STATEMENTS OF REVENUE, EXPENSES AND CHANGES IN NET ASSETS
<br />Years Ended June 30, 2003, 2002 and 2001
<br />(See Accountant's Compilation Report)
<br />
<br /> 2003 2002 2001
<br />OPERATING REVENUE
<br />Interest revenue
<br />Net investment income $ 3,842,771 $ 4,320,761 $ 5,592,115
<br />Interest earnings - Loans 6,390,632 6,659,438 3,966,160
<br />Total interest revenue 10,233,403 10,980,199 9,558,275
<br />Other revenue
<br />Mineral lease income 4,953,826 4,513,769 6,069,323
<br />Other 14,910 8,706 26,273
<br />Total other revenue 4,968,736 4,522,475 6,095,596
<br />Total operating revenue 15,202,139 15,502,674 15,653,871
<br />OPERATING EXPENSE
<br />. Interdepartmental operations 6,039,309 5,677,290 2,364,408
<br />Nonreimbursable investments 1,361,620 1,006,904 1,960,644
<br />Personal services and other operating expenses 1,711,069 1,686,001 2,085,816 ..
<br />Total operating expense 9,111,998 8,370,195 6,410,868
<br />OPERATING INCOME/CHANGE IN
<br />NET ASSETS 6,090,141 7,132,479 9,243,003
<br />NET ASSETS - BEGINNING OF YEAR 238,748,829 231,616,350 222,373,347
<br />NET ASSETS - END OF YEAR $ 244,838,970 $ 238,748,829 $ 231,616,350
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