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Management's Discussion and Analysis ~ Continued
<br />April 6, 2010
<br />ST.ATEI~ENTS ®F REVENUES, EXPENSES AND C~A:NGES ~N NET ASSETS
<br />while the Statements ofNet Assets shows the change in financial position of net assets, the Statements of Revenues, Expenses
<br />and Changes in Net Assets, provides answers as to the nature and source of these changes, As can be seen in Table Awl, the
<br />increase in "Operating Revenues" was the main source of the increase in net assets of $635,430 in fiscal 2009. A closer
<br />examination of the individual categories affecting the source of changes in net assets is discussed below;
<br />TABLE A.4Z
<br />Condensed S~a~emen~~ of Revenue,
<br />Expen~e~ and Chan~e~ ~~. Nei Asses
<br /> Increase
<br /> 2009 2008 Decrease
<br />Revenues
<br />Operating $ 26,434,172 $ 25,472,027 $ 1,362,145
<br />Nonoperating 424,659 880,666 (456,007}
<br />Total revenues 26,$58,831 25,952,693 906,138
<br />Expenses
<br />Operath~g 24,986,189 23,765,171 1,221,018
<br />Nonoperating 632,071 626,769 5,302
<br />Total expenses 25,618,260 24,391,940 1,226,320
<br />Income before operating transfers 1,240,571 1,564,753 (320,18:,
<br />Transfers to other City funds (605,141} _ ~560,636~ w (44,505),
<br />
<br />Change in net assets 635,430 1,004,117 (364,687)
<br />Net assets, ranuary 1 45,729,130 44,845,990 883,140
<br />Prior period adjustments - (116,977} 116,977
<br />Net assets, December 31 _ $ 46,364,560 , $ 45,729,130 $ 635,430
<br />Revenues
<br />Table A-2 slows that operating revenue increased by 5 percent in 2009 for the water and Electric Depai~nents combined, This
<br />increase was due marnly to the new data Centers m town, Non operating revenue decreased 44 percent as a result of the decrease
<br />in construction this year, and was expected, Between the two departments, Connection Fees were down over $375,000.
<br />Total Expenses
<br />~n reviewi.ng total expenses in Table A~2 you will notice that there was an increase of 5,4 percent overall, The Electric and water
<br />Department's operating expenses remained pretty consistent.
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