Comprehensive Annual Financial Report - Cobb County

Cobb County, Georgia
Water and Sewer Enterprise Fund
Comparative Statements of Revenues and Expenses
For the Fiscal Years Ended September 30, 2007 and 2006
2007 2006
Operating revenues:
Water sales $ 71,775,004 $ 68,630,230
Sewer sales 95,710,957 89,883,904
Water connection charges 5,044,207 5,335,654
Sewer connection charges 2,079,045 3,223,278
Other 889,475 1,792,599
Total operating revenues $ 175,498,688 $ 168,865,665
Operating expenses:
Administrative $ 17,996,048 $ 17,401,263
Engineering 2,532,971 2,285,020
Water operations 38,555,520 35,986,518
Sewer operations 44,831,396 44,886,706
Total operating expenses $ 103,915,935 $ 100,559,507
Operating income before depreciation $ 71,582,753 $ 68,306,158
Less depreciation (36,284,315) (37,623,887)
Operating income $ 35,298,438 $ 30,682,271
Nonoperating revenues (expenses):
Intergovernmental $ 571,081 $ 4,654,379
Interest income 3,480,994 5,172,094
Interest and fiscal charges (6,178,080) (6,877,315)
Amortization of bond costs 544,777 544,777
Gain from sale of capital assets 41,069 58,495
Total nonoperating revenues (expenses) $ (1,540,159) $ 3,552,430
Net income before transfers and capital contributions $ 33,758,279 $ 34,234,701
Capital contributions $ 24,512,794 27,372,916
Total capital contributions $ 24,512,794 $ 27,372,916
Transfers:
Transfers in $ 3,894,772 $ 913,139
Transfers out (18,675,248) (18,786,537)
Total transfers $ (14,780,476) $ (17,873,398)
Change in net assets $ 43,490,597 $ 43,734,219
Note:
The comparative financial statement above has been prepared in order to meet continuing disclosure
requirements as set forth in the Security and Exchange Commission's Rule 15c2-12(b)(5).
132