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<br />. <br /> <br />The SLVID balance sheet for 1979 and 1980 is included as Table 3. <br />The statement of income and expenditures is included as Table 4. The <br />full 1980 audit report prepared by Joseph H. Cochran, CPA, is pro- <br />vided in Appendix B. A list of equipment owned by SLVID as of <br />December 31, 1979 is shown on Table 5. Also included in the table is <br />a list of major maintenance equipment that was owned by the SLVID in <br />October, 1981. <br />As shown in the 1980 audit report, SLVID has assets of about <br />$1,233,000 which include the book value of Rio Grande Reservoir and <br />Dam. Current and long term liabilities total about $316,000. The <br />remaining fund balance is about $917,000. The bulk of the SLVID <br />income is in the form of property taxes, wh i ch amounted .to about <br />$231,000 in 1980. Total 1980 income was about $266,000. Expenses <br />and depreciation totalled about $240,000, leaving a net income of <br />about $26,000. Based on an examination of the 1980 audit report, <br />the SLVID appeared to be in generally sound financial condition. We <br />are not aware of any significant changes in the financial condition <br />during 1981. <br /> <br />. <br /> <br />. <br /> <br />-20- <br />