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Exhibit C
<br />CITY OF MOUNDS VIEW, MINNESOTA
<br />STATEMENT OF REVENUES AND EXPENSES
<br />BUDGET AND ACTUAL
<br />FOR THE THREE MONTHS ENDED MARCH 31
<br />WATER FUND
<br />Percent
<br />Received or
<br />Expended
<br />Actual Actual Variance - Based on
<br />Annual Thru Thru Favorable Actuals Thru
<br />Budget 03/31/24 03/31/25 (Unfavorable) 03/31/25
<br />REVENUES
<br />User charges
<br />$ 1,605,560 $
<br />274,254 $
<br />331,123 $
<br />56,869
<br />120.7 %
<br />Connection charges
<br />2,000
<br />1,000
<br />1,950
<br />950
<br />195.0
<br />Other
<br />12,000
<br />5,707
<br />5,272
<br />(435)
<br />92.4
<br />Interest earnings
<br />-
<br />-
<br />-
<br />-
<br />N/A
<br />TOTAL REVENUES
<br />1,619,560
<br />280,961
<br />338,345
<br />57,384
<br />120.4
<br />EXPENSES
<br />Personnel expenses
<br />591,850
<br />113,136
<br />122,454
<br />(9,318)
<br />108.2
<br />Supplies and materials
<br />119,450
<br />17,481
<br />15,801
<br />1,680
<br />90.4
<br />Other services and charges
<br />584,401
<br />126,743
<br />93,832
<br />32,911
<br />74.0
<br />Water purchases
<br />-
<br />-
<br />-
<br />-
<br />N/A
<br />Depreciation
<br />194,770
<br />-
<br />-
<br />-
<br />N/A
<br />Capital expenses
<br />70,000
<br />212,750
<br />9,005
<br />203,745
<br />4.2
<br />Debt service
<br />431,497
<br />394,861
<br />396,311
<br />(1,450)
<br />100.4
<br />TOTAL EXPENSES
<br />1,991,968
<br />864,972
<br />637,404
<br />227,568
<br />73.7
<br />Bond Proceeds
<br />-
<br />-
<br />-
<br />-
<br />N/A
<br />Transfers in
<br />-
<br />N/A
<br />Transfers out
<br />167,742
<br />-
<br />N/A
<br />EXCESS (DEFICIT) REVENUES OVER EXPENSES
<br />$ (540,150) $
<br />(584,010) $
<br />(299,058) $
<br />284,952
<br />51.2 %
<br />Water Sales Comparison
<br />$1.60
<br />c
<br />0
<br />$1.40
<br />$1.20
<br />$1.00
<br />$0.80
<br />$0.60
<br />$0.40
<br />$0.20
<br />$-
<br />Q1
<br />Q2
<br />Q3
<br />Q4
<br />-2023
<br />305,786.46
<br />572,129.18
<br />987,857.87
<br />1,428,487.42
<br />-2024
<br />274,254.09
<br />562,261.32
<br />896,279.11
<br />1,358,126.55
<br />-2025
<br />331,123.19
<br />
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