Page 10 - Beaumont Basin Watermaster Meeting Material

BEAUMONT BASIN WATERMASTER

MEMORANDUM NO. 13-17

Date: August 7, 2013

From: Joseph Zoba, Treasurer

Subject: Independent Accountant’s Financial Report of
Agreed-Upon Procedures for the Beaumont Basin
Watermaster

Recommendation: That the Watermaster Committee receives and files
the Independent Accountant’s Financial Report for
the period ending June 30, 2013.

The Beaumont Basin Watermaster has engaged the firm of Rogers, Anderson, Malody & Scott
to perform an independent financial review of the Watermaster activities for the fiscal year
ending June 30, 2013. The independent financial review was conducted under the same terms
as the prior fiscal year.

At the beginning of the 2012-2013 fiscal year, the Beaumont Basin Watermaster had
unrestricted net assets in the amount of $20,158. During the fiscal year, the Watermaster
collected $405,155 in revenues and expended $205,760. As of June 30, 2013, the
Watermaster had unrestricted net assets in the amount of $219,553.

The following illustration provides a summary of the annual revenues and expenses of the
Beaumont Basin Watermaster since its formation in 2004.

$400,000
$350,000 Annual Revenue

$300,000 Annual Expense

$250,000
$200,000

$150,000

$100,000
$50,000

$0
FY 2004 FY 2005 FY 2006 FY 2007 FY 2008 FY 2009 FY 2010 FY 2011 FY 2012 FY 2013