Sub- Audit Report 2003 (new

Comprehensive Annual Financial ReportMunicipal Subdistrict,Northern Colorado Water Conservancy DistrictBerthoud, ColoradoIssued By:The Municipal Subdistrict with the assistance of John Budde, CPAFor the year ended September 30, 2006Front Cover:Photo illustration of Windy Gap Reservoir Comprehensive Annual Financial Report, September 30, 2006Table of ContentsIntroductory Section PageLetter of transmittal i-iiSubdistrict officials iiiOrganizational chart ivCertificate of Achievement for Excellence in Financial Reporting vFinancial SectionIndependent auditors’ report 1Management’s Discussion and Analysis 2-4Basic Financial StatementsStatement of net assets 6-7Statement of revenues, expenses and change in fund net assets 8Statement of cash flows 9Notes to financial statements 10-16Supplemental Information -- FinancialSchedule of revenues and expenses -- budget to actual - Windy Gap Water Activity 18Schedule of operating and nonoperating revenues -- budget to actual - Windy Gap Water Activity 19Scating expenses -- budget to actual - Windy Gap Water Activity 20-22Schedule of capital outlay and debt service -- budget to actual - Windy Gap Water Activity 23Schedule of changes in revenue bonds, restricted assets and cash balances - Windy Gap Water Activity 24-25Schedule of bond retirements and interest payable - Windy Gap Water Activity 26-27Schedule of revenues and expenses, budget to actual - Windy Gap Firming Project 28Statistical ...