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City of Lake Elmo <br />February 17, 2006 <br />Page Fourteen <br />Enterprise Funds <br />The Water Utility, Sewer Utility and Storm Water Utility make up this fund type. A three year comparison for the Water <br />Utilities fund follows: <br />Operating revenues <br />Operating expenses <br />Income (loss) <br />from operations <br />Nonoperating revenues <br />Income (loss) <br />before transfers <br />Cash and investments <br />Bonds payable <br />$6,000,000 <br />$5,000,000 <br />$4,000,000 <br />$3,000,000 <br />$2,000,000 <br />$1,000,000 <br />$(1,000,000) <br />Percent of <br />Percent of <br />Percent of <br />2003 <br />Total <br />2004 <br />Total <br />2005 <br />Total <br />$ <br />289,189 <br />100.0 % <br />$ 215,263 <br />100.0 % <br />$ 211,525 <br />100.0 % <br />252,270 <br />87.2 <br />333,705 <br />155.0 <br />321,907 <br />152.2 <br />36,919 <br />12.8 <br />(118,442) <br />(55.0) <br />(110,382) <br />(52.2) <br />20,345 <br />7.0 <br />21,155 <br />9.8 <br />12,914 <br />6.1 <br />$ <br />57,264 <br />19.8 % <br />$ (97,287) <br />(45.2) % <br />$ (97,468) <br />(46.1) % <br />$ <br />1,059,937 <br />$ 1,015,137 <br />$ 4,628,826 <br />$ <br />665,000 <br />$ 640,000 <br />$ 5,215,000 <br />2003 <br />Water Utility Fund <br />2004 <br />2005 <br />■ Operating revenues ■ Operating expenses ■ Nonoperating revenues <br />❑ Change in net assets ■ Cash and investments ❑ Bonds payable <br />The large increase in cash was due to unspent bond proceeds. The Water fund owes $500,000 to the General fund. <br />Repayment terms have not yet been set. The City should establish an amortization schedule to provide for repayment. <br />952.835.9090 • Fax 952.835.3261 <br />www.aemcpas.com <br />