VLAWMO Annual Financial Report 2018

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VADNAIS LAKE AREA WATER MANAGEMENT ORGANIZATION MANAGEMENT'S DISCUSSION AND ANALYSIS DECEMBER 31, 2018 Capital Asset and Debt Administration Capital Assets The Organization's investment in capital assets for its governmental activities as of December 31, 2018, amounts to $500,845 (net of accumulated depreciation). Additional information on the Organization's capital assets can be found in Note 3 of this report. Economic Factors and Next Year's Budgets The Organization considered and prepared the 2019 budget based on the following factors: • Revenue is primarily from the storm sewer utility assessment, with occasional income from grants, service fees, and interest. • Expenditures fall into three main categories: Programs, projects, and general and administration. • Programs include: monitoring and data analysis, sustainable lake plans, cost -share, education and outreach, maintenance, and 30% of payroll for five employees. • Projects include capital projects such as the Sucker Lake channel restoration, year four of the bacteria source monitoring on Lambert Creek, Lambert Creek hydrologic study, and development of the Whitaker Treatment wetland project occupying 40% of payroll for five employees. • Operations and administration include office rent and supplies, bookkeeping and general and program audit, information systems, insurance, and 30% payroll for five employees and legal expenses. All of these factors were considered in preparing the Organization's budget for the 2019 fiscal year. Requests for Information This financial report is designed to provide a general overview of the Organization's finances for all those with an interest in the Organization's finances. Questions concerning any of the information provided in this report or requests for additional financial information should be addressed to Stephanie McNamara, Administrator, Vadnais Lake Area Water Management Organization, 800 County Road E East, Vadnais Heights, MN 55127. (12)