2011 actual 2011 budget Difference

Total operating revenues $1,528,499 $2,291,829 $-763,330

Total operating expenses $1,860,829 $944,246 $-916,583

Operating income or loss $-332,330 $1,347,583 $-1,679,913

Depreciation/amortization

(not budgeted) $662,488 $0 $662,488

Adjusted operating income $330,158 $1,347,583 $-1,017,425

Source: City of Vadnais Heights