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<br />made at the inception of the project, thus are not available for <br />investment purposes. <br /> <br />HHTKRPRISE POHDS <br /> <br />WATER/WASTEWATER <br /> <br />The cashflow in this fund occurs fairly evenly throughout the year <br />with the exception on severe swings in weather conditions. DEBT <br />SERVICE payments for Water/wastewater Utility debt is very <br />predictable. Investments terms are made to coincide with the <br />annual debt service schedule. The other expenses for operations <br />occur on a fairly even basis throughout the year. Reserve funds <br />for repair and replacement and debt service can be invested up to <br />two years. Unappropriated retained earnings can be invested up to <br />two years. The funds in the WASTEWATER CIP consists mainly of <br />capital recovery fees and bond proceeds. These funds are invested <br />from 30 to 365 days contingent on construction schedule for <br />capital improvement projects. The funds in the WATER CIP consists <br />mainly of capital recovery fees and bond proceeds. These funds <br />are invested from 30 - 365 days contingent on construction <br />schedules for capital improvement projects. <br /> <br />The cash in this fund is derived from monthly sales of electricity <br />to electric customers. The cashflow occurs on a fairly even basis <br />with minor fluctuations during summer months. DEBr SERVICE <br />payments for Electric Utility debt is very predictable. <br />Investments terms are made to coincide with the annual debt <br />service schedule. OPERATING EXPKHSES occur on a fairly even basis <br />throughout the year. The major component of operating expenses is <br />for purchased power. ELECTRIC UTILITY CAPITAL outlay funds are <br />invested for terms between 30 to 180 days contingent on <br />construction schedule for capital improvement projects. Debt <br />service reserve funds ($1,319,241) and repair and replacement <br />funds ($315,000) can be invested up to two years. <br /> <br />ELECTRIC UTILITY <br /> <br />AIRPORT FUND <br /> <br />The operating revenues and expenses in this fund occur on a fairly <br />even basis. The revenues are derived from airport leases and <br />operating subsidies from the General Fund. There is only one debt <br />service payment left to be paid from this fund. After the current <br />year's debt service payment is made, there will be no additional <br />debt paid from this fund. The AIRPORT CIP consist of projects <br />funded mostly by 90% matches by FAA grants. These are made on a <br />reimbursement basis, the General Fund advances cash to pay for <br />the construction of the project and is reimbursed by FAA. These <br />funds do not earn any interest due to the fact that funds are <br />received after the expense is incurred, therefore General Fund is <br />entitled to received reimbursement immediately. A $372,000 grant <br /> <br />15 <br />