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La Porte Area Water Authority <br />--- Management's Discussion and Analysis <br />LA PORTE AREA WATER AUTHORITY'S <br />CHANGE IN NET ASSETS <br />Operating revenues: <br />Charges for Services <br />Total operating revenues <br />Operating expenses: <br />Supplies <br />Purchased water <br />Services and charges <br />Depreciation <br />Total operating expenses <br />Operating income (loss) <br />Nonoperating revenues (expenses) <br />Income (loss) before contributions and transfers <br />Capital contributions <br />Change in net assets <br />Total net assets - beginning <br />Total net assets - ending <br />Business -Type Activities <br />2011 2010 <br />$ 1,246,186 <br />$ 929,497 <br />1,246,186 <br />929,497 <br />5,343 <br />14,761 <br />1,006,229 <br />813,405 <br />81,360 <br />151,592 <br />460,877 <br />461,171 <br />1,553,809 <br />1,440,929 <br />(307,623) <br />(511,432) <br />(87,546) <br />(131,684) <br />(395,169) <br />791,435 <br />396,266 <br />(643,116) <br />860,304 <br />217,188 <br />6,624,684 6,407,496 <br />$ 7,020,950 $ 6,624,684 <br />Total fund net assets increased by in 2011. The actual water revenue and capital recovery fees for fiscal year <br />ended September 30, 2011 of $1,347,825 were 1,205,511 higher than the amount budgeted of $1,205,511 due <br />to an increase in consumption as a result of decreased rainfall. Interest earned on investments remained flat. <br />The Water Authority has not made any revisions to the original appropriations approved by the City Council for <br />the 2010-2011 budget. <br />6 <br />