Water Department Income Statement

Water Department Income Statement
December 2008 After Audit Year-To-Date Compared To Budget 
             
      YTD YTD YTD Actual YTD Variance
      Actual Timing   Budget To Budget
Income            
  City of Bella Vista   20,030 0 20,030 49,259 (29,229)
  Water   6,577,728 0 6,577,728 7,177,485 (599,757)
  Restricted Revenue   4,112 0 4,112 3,600 512
  Other   545,888 0 545,888 532,450 13,438
             
  Total Income   7,147,758 0 7,147,758 7,762,794 (615,036)
             
               
  Water   1,863,837 0 1,863,837 2,011,605 (147,768)
             
  Total Cost of Goods   1,863,837 0 1,863,837 2,011,605 (147,768)
             
Gross Profit   5,283,921 0 5,283,921 5,751,189 (467,268)
             
Expense            
  Salary and Wages   837,411 0 837,411 852,945 (15,534)
  Employee Benefits   202,357 0 202,357 275,525 (73,168)
  Maintenance and Repairs   334,841 0 334,841 474,520 (139,679)
  Supplies   652,891 0 652,891 711,652 (58,761)
  Outside Contracts   100,003 0 100,003 129,662 (29,659)
  Insurance   152,704 0 152,704 143,196 9,508
  Utilities   79,531 0 79,531 93,800 (14,269)
  Memberships, Training and Travel   8,284 0 8,284 11,843 (3,559)
  Fuel and Oil   76,629 0 76,629 62,470 14,159
  Taxes and Permits   49,834 0 49,834 51,960 (2,126)
  Professional Services   24,800 0 24,800 37,600 (12,800)
  Postage   60,581 0 60,581 78,805 (18,224)
  Interest Expense & CC Charges   86,023 0 86,023 189,200 (103,177)
  Other   731,914 0 731,914 862,403 (130,489)
             
  Total Expense   3,397,803 0 3,397,803 3,975,581 (577,778)
             
Pre-Depreciation Gross   1,886,118 0 1,886,118 1,775,608 110,510
             
  Depreciation   871,251 0 871,251 893,142 (21,891)
               
  Change in Accounting Procedure (Note 1 Below) (30,158) 0 (30,158) 0 (30,158)
               
Income / (Cost) of Operations   1,045,025 0 1,045,025 882,466 162,559
             
  Simple Cash Flow            
  Add Depreciation   871,251 0 871,251 893,142 (21,891)
  Subtract Capital Projects   (1,049,369) 0 (1,049,369) (2,030,492) 981,123
  Add: Reserves for Carry Over Expenses & Financing 271,295 0 271,295 771,295 (500,000)
  Subtract Debt Service   (115,000) 0 (115,000) (115,000) 0
  Simple Cash Flow   1,023,202 0 1,023,202 401,411 621,791
             
             
Note1.Prior to 2008, vacation and sick benefits were based
on obligations for the year. The auditors have adjusted the
obligation based on anniversary dates.