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DRAFT
<br />An additional portion of the Authority's net position (9.10%) represents resources that are subject to
<br />external restrictions for debt service. The remaining balance of unrestricted net position of $2,174,269
<br />represents funds available to meet other ongoing obligations to participants and/or creditors.
<br />Analysis of the Water Authority's Operations -- the following table provides a summary of the Water
<br />Authority's operations for the year ended September 30, 2016.
<br />AUTHORITY'S CHANGE IN NET POSITIONT
<br />Business 'type Activities
<br />2016 2015
<br />Revenues
<br />Charges for services $ 1,181,318 $ 1,106,779
<br />Total revenues 1,181,318 1.106,779
<br />Operating expeneses
<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
<br />Capital contributions
<br />Change in net position
<br />Net position - beginning
<br />Net position T ending
<br />4,863
<br />7,985
<br />939,140
<br />829,346
<br />86,535
<br />379,535
<br />465,687
<br />464,999
<br />1,496,225
<br />1,681,865
<br />( 314,907) (
<br />575,086)
<br />14,193 (9,074)
<br />( 300,714) ( 584,160)
<br />98,169 787,285
<br />( 202,545) 203,125
<br />8,235,165 8,032,040
<br />$ 8,032,620 $ 8,235,165
<br />Total net position decreased by $202,545 in 2016. The actual water revenue for fiscal year ended
<br />September 30, 2016, of $1,181,318 was $42,803 lower than the amount budgeted of $1,224,121.
<br />Capital Assets and Debt Administration
<br />Capital Assets — The La Porte Area Water Authority's investment in capital assets as of September 30,
<br />2016 amounts to $5,127,502 (net of accumulated depreciation).
<br />There were not any additions or retirements of capital assets during the current fiscal year. The only
<br />activity is current depreciation in the amount of $465,687. Capital assets at year end consisted of water,
<br />sewer and drainage facilities for water production and distribution in the amount of $15,477,051.
<br />Additional information of the La Porte Area Water Authority's capital assets can be found in Note V on
<br />page 14 of this report.
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