The Brazos River Authority Waco Texas

BRAZOS RIVER AUTHORITYSTATEMENTS OF REVENUES, EXPENSES AND CHANGES IN NET ASSETSFISCAL YEARS ENDED AUGUST 31, 2008AND 2007 (in thousands)2008 2007OPERATING REVENUES:Water Supply System:Raw water sales $ 26,093 $ 23,010Treated water 1,022 1,062Wastewater treatment 2,989 2,572Lake operations 3,181 3,121Hydroelectric 631 603Grants 1,264 1,101Other 1,356 1,229Cost Reimbursable Operations:Water conveyance/supply 2,346 2,247Water treatment 8,174 7,880Wastewater treatment 7,827 7,321TOTAL OPERATING REVENUES 54,883 50,146OPERATING EXPENSES:Personnel services 15,271 14,744Materials and supplies 2,613 2,501Utilities 4,836 4,545Depreciation and amortization 10,124 9,819Outside services 4,993 4,959Other 7,025 6,655TOTAL OPERATING EXPENSES 44,862 43,223OPERATING INCOME 10,021 6,923NON-OPERATING REVENUES (EXPENSES):Investment income 2,187 2,832Interest expense (5,848) (5,928)Other income 4,125 -Other expenses (292) (765)Gain/(Loss) on sale of capital assets (391) 33TOTAL NET NON-OPERATING EXPENSES (219) (3,828)GAIN BEFORE CONTRIBUTIONS 9,802 3,095Capital contributions 661 1,933CHANGE IN NET ASSETS 10,463 5,028NET ASSETS, BEGINNING 131,291 126,263NET ASSETS, ENDING $ 141,754 $ 131,291The accompanying notes are an integral part of these statements.18