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Management's Discussion and Analysis - Continued <br />March 24, 2010 <br />Economic Factors and Next Year's Budgets <br />• 2010 Budget. <br />o Revenue is chiefly from the Storm sewer utility, with minor income from grants, service fees and interest <br />o Expenses fall into three main categories: Programs, projects, and operations and administration. <br />■ Programs include: monitoring and data analysis, sustainable lake plans, cost -share, education, and <br />maintenance. 13 percent <br />• Projects include capital projects, Whittaker pond improvements, installation of flume #2; Lambert <br />Creek, Gem Lake, Gilfillan Lake, Goose Lake, Wilkinson Lake and TMDL work planning, <br />implementation of sustainable lake plans. 29 percent <br />• Operations and administration include office rent and supplies, bookkeeping and audit, information <br />systems, insurance, all payroll for 3.33 employees and legal expenses. 58 percent <br />All of these factors were considered in preparing the Organization's budget for the 2010 fiscal year. <br />Requests for Information <br />This financial report is designed to provide a general overview of the Organization's finances for all those with an interest in the <br />Organization's finances. Questions concerning any of the information provided in this report or requests for additional financial <br />information should be addressed to Stephanie McNamara, Administrator, Vadnais Lake Area Water Management Organization, <br />800 County Road E East, Vadnais Heights, MN 55127. <br />-19- <br />