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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 03/31/25 03/31/26 (Unfavorable) 03/31/26
<br /> REVENUES
<br /> User charges $ 1,703,440 $ 331,123 $ 367,834 $ 36,711 111.1
<br /> Connection charges 1,500 1,950 8,055 6,105 413.1
<br /> Other 25,470 5,272 20,338 15,066 385.8
<br /> Interest earnings - - - - N/A
<br /> TOTAL REVENUES 1,730,410 338,345 396,227 57,882 117.1
<br /> EXPENSES
<br /> Personnel expenses 620,940 122,454 119,438 3,016 97.5
<br /> Supplies and materials 114,270 15,801 20,951 (5,150) 132.6
<br /> Other services and charges 587,606 93,832 91,945 1,887 98.0
<br /> Water purchases - - - - N/A
<br /> Depreciation 337,000 - - N/A
<br /> Capital expenses 172,000 9,005 - 9,005 0.0
<br /> Debt service 434,000 396,311 402,711 (6,400) 101.6
<br /> TOTAL EXPENSES 2,265,816 637,404 635,046 2,358 99.6
<br /> Bond Proceeds - - - - N/A
<br /> Transfers in 52,000 N/A
<br /> Transfers out 169,369 - N/A
<br /> EXCESS(DEFICIT)REVENUES OVER EXPENSES $ (652,775) $ (299,058) $ (238,818) $ 60,240 79.9
<br /> Water Sales Comparison
<br /> $1.80
<br /> 0
<br /> 51.60
<br /> $1.40
<br /> $1.20
<br /> $1.00
<br /> $0.80
<br /> $0.60
<br /> $0.40
<br /> $0.20
<br /> Q1 Q2 Q3 Q4
<br /> -2024 274,254.09 562,261.32 896,279.11 1,358,126.55
<br /> -2025 331,123.19 668,043.11 1,036,993.04 1,556,432.24
<br /> -2026 367,834.05
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