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<br />Analysis of the Authority's Operations. The following table provides a summary of the Authority's
<br />operations for the year ended September 30, 2009.
<br />
<br /> 2009 2008
<br />Operating revenues
<br />Charges for services $ 962,843 $ 985,972
<br />Total operating revenues 962,843 985,972
<br />Operating expenses
<br />Supplies 9 46
<br />Purchased water 818,482 745,775
<br />Services and charges 96,242 85,459
<br />Depreciation 461,465 451,689
<br />Total operating expenses 1,376,198 1,282,969
<br />Operating income (loss) 413,355) 296,997)
<br />Nonoperating revenues (expenses) 213,902) 194,499)
<br />Income (loss) before contributions 627,257) 491,496)
<br />Capital contributions 860,304 860,388
<br />Change in net assets 233,047 368,892
<br />Net assets, beginning 6,174,449 5,805,557
<br />Net assets, ending $ 6,407,496 $ 6,174,449
<br />
<br />Total fund net assets increased by $233,047 in 2009. The actual water revenue and capital recovery fees
<br />for the fiscal year ended September 30, 2009, $1,064,615, were 10% lower than the amount budgeted
<br />for $1,181,202 due to a decrease in consumption as a result of increased rainfall. Interest earned on
<br />investments was down due to lower interest rates.
<br />
<br />The Authority has not made any revisions to the original appropriations approved by the City Council
<br />for the 2008-2009 budget.
<br />
<br />CAPITAL ASSETS AND DEBT ADMINISTRATION
<br />
<br />Capital Assets. The La Porte Area Water Authority's investment in capital assets as of September 30,
<br />2008, amounts to $8,659,811 (net of accumulated depreciation).
<br />
<br />There were additions of $123,680 of capital assets during the current fiscal year. The current year
<br />depreciation is $461,465. Capital assets at year-end consisted of the following:
<br />
<br /> Ending
<br /> Balance
<br />$ 123,680
<br /> 8,536,131
<br />$ 8,659,811
<br />
<br />Water, sewer and drainage facilities
<br />Construction in progress
<br />Water production and distribution system
<br />
<br />Additional information of the La Porte Area Water Authority's capital assets can be found in Note 5 on
<br />page 12 of this report.
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