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<br />MAY-23-2003 15:15 <br /> <br />763 569 5799 <br /> <br />763 569 5799 <br /> <br />P.15/19 <br /> <br />FINANCIAL ANALYSIS (Continued) <br /> <br />Hydro Plan!.. <br /> <br />Hydro Plant operating revenues havc declined significantly over the last two years as a result of <br />the Mississippi River flooding in the spring of 200 1. . <br /> <br />The City received Federal assistance through FEMA in 2002 to assist in the repair efforts. <br /> <br />Also during 2002, the City refunded the G.O. Hydroelectric Revenue Bonds of 1997 with a new <br />bond which extends the payment 10 years to 2016 and provided additional funds for expenses <br />not covered by FEMA. <br /> <br />Hydro Plant Fund perfonnance over the past five years is indicated in the following graph: <br /> <br />.. Hydro Plant Fund <br /> <br />$400,000 <br /> <br /> <br />$1,400,000 <br /> <br />$1,200,000 <br /> <br />$1,000,000 <br /> <br />$800,000 <br /> <br />$600.000 <br /> <br />$200,000 <br /> <br />$0 <br /> <br />1998 <br /> <br />1999 <br /> <br />2000 <br /> <br />2001 <br /> <br />2002 <br /> <br />EJ Sales and Charges <br />. OpQrarJng Income <br /> <br />.Operating Expensati (Indudlng Depreciation) <br />[Jlncom& (LotS) Before OperatiD9. Transfers <br /> <br />13 <br />