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ja <br />Water and Sewer Fund (Cont'd) <br />• Water and sewer service supported by ratepayers <br />• Increased usage for population and commercial industrial <br />growth have created increases in operating revenues, <br />operating expenses and other income <br />• Higher than normal revenues in 2012 due to a one-time <br />refund to the City for previous expenditures, as well as <br />higher future infrastructure charges <br />• Other income includes future infrastructure charges, <br />developer fees, special assessments, investment earnings <br />and other miscellaneous income and expenses <br />• Fund balance growing each year due to net income (positive <br />income each year even after subtracting depreciation) <br />Z/ SMITH �SCHAFER <br />AYES LTV <br />C4,Y"Ied Pwlt •oowwntbnrs 4n1 C*.MUtrin» <br />4 n ,YEARS <br />smithschafer.com "19 7 1 21 <br />