VLAWMO Annual Financial Report 2007

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VLAWMO Annual Report - 2007 2007 Annual Report for the Vadnais Lake Area Water Management Organization Introduction The Vadnais Lake Area Water Management Organization (VLAWMO) covers approximately 25 square miles in the northeast metropolitan area. VLAWMO is a joint powers water management organization empowered by its member communities to manage water resources under Minnesota statute Chapters 103A — 103H. VLAWMO shares responsibility with its member communities to: ❑ Protect surface water quality ❑ Manage stormwater and control flooding ❑ Require good erosion control practices, both during development and as a part of good stewardship ❑ Protect and manage wetlands through the Wetland Conservation Act and local effo rt ❑ Protect groundwater quality and recharge areas. Vadnais Lake, in the southwest corner of the watershed, serves as a reservoir for the St. Paul Regional Water Service (SPRWS). The SPRWS provides drinking water to about 400,000 customers in several communities. VLAWMO includes parts of Vadnais Heights, White Bear Township, White Bear Lake, Gem Lake, Lino Lakes and all of North Oaks. Most of the watershed lies in Ramsey County with a small portion in Anoka County. This Annual Report is provided to the public and the State of Minnesota, Board of Water and Soil Resources in compliance with MN Rules Chapter 8410.0150. Financial Reporting The 2007 Approved Budget is included in Part 2 of this Report. Line item footnotes provide further clarification of the budget. Actual expenditures and income are also included. The budget provides detail in each expense and income category. Discussion will follow below. The Balance Sheet for 2007 is also included. Income. The majority of the VLAWMO budget is supported by contributions from the member communities. All requested contributions were received as of this report. The actual income derived from service fees was considerably less than was budgeted ($340 actual vs. $2500 budgeted), less than 1 % of the budget. Income from interest was higher than budgeted ($1400 vs. $2500 budgeted). VLAWMO secured two Certificates of Deposit with market rate interest that provided the above budget interest income. The rest of the income is derived from a state cost share grant covering half of the cost of administering the Wetland Conservation Act. The Capital Improvement budget for 2007 was funded by a continuing grant from the Clean Water Partnership program. -5-