Condensed Balance Sheet at March 31, 2007
Assets |
||
|---|---|---|
Current |
||
Cash |
$ 2,140,610 |
|
Accounts Receivable |
1,434,840 |
|
Inventory |
502,852 |
|
| Advanced DEMEC |
0 |
|
Dividends Receivable |
0 |
|
Prepayments |
37,152 |
|
|
$ 4,115,454 |
||
Investments |
||
At Lower of Aggregate Cost or Market |
$ 489,871 |
$ 489,871 |
Fixed Assets |
||
Cost (less accumulated Depreciation of $6,154,714 |
$ 5,201,602 |
$ 5,201,602 |
$ 9,806,927 |
||
Liabilities and Fund Balances |
||
Current Liabilities |
||
Accounts Payable |
$ 783,869 |
|
| Wages Payable- Retroactive |
17,213 |
|
Employee
Withholding & |
1,994 |
|
Utility Tax Payable |
14,626 |
|
Accrued Pension |
17,360 |
|
Consumer Meter Deposits |
82,522 |
|
Developer Deposits |
183,143 |
|
Liability for Compensated Absences |
240,988 |
|
$ 1,341,715 |
||
Fund Equity |
||
Capital
Grants |
$ 1,126,975 |
|
Retained Earnings |
7,338,236 |
|
$ 8,465,211 |
||
$ 9,806,926 |
||
Condensed Income and Expense Statement
at March 31, 2007
Total |
Water |
Light |
|
|---|---|---|---|
Operating Income |
|||
User Charges |
$10,615,899 | $969,352 | $9,646,547 |
Free Service |
16,841 |
1,506 |
15,335 |
| $10,599,058 | $967,846 | $9,631,212 | |
| Operating Expenses | |||
Electric Power & Water Purchased |
$6,820,579 | $50,615 | $6,769,964 |
Salaries and Wages |
377,274 |
194,298 |
182,976 |
Repairs and Maintenance |
263,938 |
84,508 |
179,430 |
| Supplies and Training | 37,248 |
8,380 |
28,868 |
Insurance |
93,132 |
46,566 |
46,566 |
Deprecation |
486,857 |
96,870 |
389,987 |
| CAD Mapping |
476 |
67 |
409 |
Other |
67,947 |
18,417 |
49,530 |
| $8,147,451 | $499,721 | $7,647,730 | |
Administrative and |
|||
Salaries |
$354,818 | $72,850 | $281,968 |
Payroll Taxes |
73,017 |
24,549 |
48,468 |
Pension Expense |
122,809 |
54,028 |
68,781 |
Insurance |
46,566 |
22,903 |
23,663 |
Employee Benefits |
126,052 |
53,068 |
72,984 |
Professional Fees |
42,339 |
14,850 |
27,489 |
| Fees and Permits |
160 |
0 |
160 |
Office Supplies and Expense |
191,645 |
26,179 |
165,466 |
Depreciation |
45,022 |
8,104 |
36,918 |
Other |
6,262 |
433 |
5,829 |
| $1,008,690 | $276,964 | $731,726 | |
Operating Income |
$1,442,917 | $191,155 |
$1,251,762 |
Other Income |
|||
Investment Income |
$80,192 | $0 | $80,192 |
|
Loss on Sale of Investments |
(16,258) |
(16,258) |
0 |
|
Gain on Sale of Asset |
3,300 |
0 |
3,300 |
Net Income |
$1,506,851 | $174,897 |
$1,331,954 |
| Appropriation to Mayor and Council | 375,000 |
0 |
375,000 |
For City Services |
70,847 |
0 |
70,847 |
|
Special Appropriation (City) |
41,718 |
0 |
41,718 |
Net Income(Loss) |
1,019,286 |
$174,897 | $844,389 |
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