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Management's Discussion and Analysis - Continued <br />March 19, 2008 <br />Governmental activities. Governmental activities increased the City's net assets by $149,930. <br />Changes in Net Assets <br />December 31, Increase <br />2007 2006 (Decrease) <br />Revenues <br />Program <br />Charges for services $ 228,000 $ 178,540 $ 49,460 <br />Operating grants and contributions 5,526 36,691 (31,165) <br />Capital grants and contribution 138,878 138,878 <br />General <br />Unrestricted investment earnings 1,461 104 1,357 <br />Miscellaneous 300 (300) <br />Total revenues <br />373,865 215,635 158,230 <br />Expenses <br />General government 141,006 81,655 59,351 <br />Programs 68,143 9,078 59,065 <br />Projects 14,786 104,960 (90,174) <br />Total expenses 223,935 195,693 28,242 <br />Change in net assets 149,930 19,942 129,988 <br />Net assets, January 1, 54,194 34,252 19,942 <br />Net assets, December 31, $ 204,124 $ 54,194 $ 149,930 <br />• Charges for services increased $49,460 despite losing one of the Organization's member cities. The final year in which <br />the Organization assesses its member cities for its operating revenues was 2007. Beginning in 2008, the Organization <br />will send out an annual Storm Water Utility bill to residents within the Organizations borders. <br />• Operating grants and contributions increased $138,878 primarily due to grant proceeds from the Minnesota Pollution <br />Control Agency involved with the Lambert Creek Flume project. <br />• Capital grants and contributions amounts represent unpaid Storm Water Utility charges, which have been assessed by the <br />Organization to the Counties for collection with the 2008 residential property taxes. <br />-VI- <br />