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DRAFT
<br />An additional portion of the Authority's net position (8.87%) represents resources that are subject to
<br />external restrictions for debt service. The remaining balance of unrestricted net position of $2,639,726
<br />represents funds available to meet other ongoing obligations to participants and/or creditors.
<br />Analysis of the Water Authority's Operations -- the following table provides a summary of the Water
<br />Authority's operations for the year ended September 30, 2015.
<br />AUTHORITY'S CHANGE IN NET POSITION
<br />Revenues
<br />Charges for services
<br />Total revenues
<br />Operating expeneses
<br />Supplies
<br />Purchased water
<br />Services and charges
<br />Depreciation
<br />Total operating expenses
<br />Operating income (loss)
<br />Nonoperating revenues (expenses)
<br />Income (loss) before contributions
<br />Capital contributions
<br />Change in net position
<br />Net position - beginning
<br />Net position - ending
<br />Business -Type Activities
<br />2015 2014
<br />$ 1,106,779
<br />1,106,779
<br />$ 1,195,886
<br />1,195,886
<br />7,985
<br />1,015
<br />829,346
<br />850,142
<br />379,535
<br />95,976
<br />464,999
<br />465,000
<br />1,681,865
<br />1,412,133
<br />( 575,086) (
<br />216,247)
<br />( 9,074) { 33,784)
<br />( 584,160) (
<br />250,031)
<br />787,285
<br />784,737
<br />203,125
<br />534,706
<br />8,032,040
<br />7,497,334
<br />$ 8,235,165 $
<br />8,032,040
<br />Total net position increased by $203,125 in 2015. The actual water revenue for fiscal year ended
<br />September 30, 2015, of $1,106,779 was-$77,133 lower than the amount budgeted of $1,183,912.
<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 />2015 amounts to $4,864,589 (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 $464,999. Capital assets at year end consisted of water,
<br />sewer and drainage facilities for water production and distribution in the amount of $15,435,810.
<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.
<br />in
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