2005 Annual Report - Erie County Water Authority

ERIE COUNTY WATER AUTHORITYComprehensive Annual Financial ReportTable of ContentsIntroductory SectionLetter of Transmittal..............................................................................................................................1GFOA Certificate of Achievement........................................................................................................7Members of the Board of Commissioners .............................................................................................8Organizational Chart..............................................................................................................................9Financial SectionReport of Independent Auditors ............................................................................................................10Management’s Discussion and Analysis (MD&A) ...............................................................................11Financial StatementsStatement of Net Assets...............................................................................................................24Statement of Revenues, Expenses and Changes in Net Assets....................................................25Statement of Cash Flows .............................................................................................................26Notes to Financial Statements......................................................................................................28Statistical SectionSummary Comparison of the Statement of Net Assets..........................................................................43Summary Comparison of the Statement of Net Assets (chart)..............................................................44Summary Comparison of the Statement of Revenues, Expenses and Changes in Net Assets ..............45Summary Comparison of the Statement of Operating Revenues to Operating Expenses .....................46Sources of Revenue ...............................................................................................................................47Water Sales ............................................................................................................................................48Residential Rate History Compared to Inflation....................................................................................49Collection Rates.....................................................................................................................................50(continued)