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The rates for customer charges for stormwater were increased in order to eliminate the cash deficit. The <br />cash has increased from a deficit of $878 in 2007 to a positive balance of $194,575 in 2008. <br />STREET LIGHT SYSTEM FUND <br />Street light rates will continue to be gradually increased to address the cash deficit of $46,926. <br />GOLF COURSE FUND <br />2008 <br />2007 <br />• <br />Actual <br />Actual <br />Operating revenue <br />$149,436 <br />$144,681 <br />Operating expenses <br />162,066 <br />131,904 <br />Income/(loss) from operations <br />(12,6 <br />12,777 <br />Non-operating revenues, (expenses) <br />(1,29 <br />(5,648) <br />and transfers <br />Change in net assets <br />(51 3925) <br />$7,129 <br />Street light rates will continue to be gradually increased to address the cash deficit of $46,926. <br />GOLF COURSE FUND <br />Change in net assets 513.752 ($3517) <br />Financially, the golf course continues to show improvement over the prior year. <br />The City has submitted previous Comprehensive Annual Financial Reports (CAFR) to the Government <br />Finance Officers Association of the United States and Canada (GFOA) for a comprehensive review. We <br />have received the Certificate of Achievement for Excellence in Financial Reporting award for each year <br />submitted. We will be submitting this year's report for their review and subsequent consideration for the <br />award. <br />Costs and Funding: NA <br />Dan Maiers <br />Director of Finance <br />2008 <br />2007 <br />• <br />Actual <br />Actual <br />Operating revenue <br />$311,314 <br />$286,737 <br />Operating expenses <br />298,910 <br />297,114 <br />Income/(loss) from operations <br />12,404 <br />(10.377) <br />Non-operating revenues, (expenses) <br />1,348 <br />(24,940) <br />and transfers <br />Change in net assets 513.752 ($3517) <br />Financially, the golf course continues to show improvement over the prior year. <br />The City has submitted previous Comprehensive Annual Financial Reports (CAFR) to the Government <br />Finance Officers Association of the United States and Canada (GFOA) for a comprehensive review. We <br />have received the Certificate of Achievement for Excellence in Financial Reporting award for each year <br />submitted. We will be submitting this year's report for their review and subsequent consideration for the <br />award. <br />Costs and Funding: NA <br />Dan Maiers <br />Director of Finance <br />