|The FY07 budget was adopted by the city council on October 20, 2006. The water enterprise fund is primarily funded through user fees. This fund is budgeted to receive $30,000.00 in FY07, which is a slight increase over FY06 actual revenue. The fund has $83,400.00 in budgeted expenditures, which is $3,371.00 below FY06 actual expenditures. The water fund is budgeted to operate at a $53,400.00 deficit with no other sources of revenue identified to subsidize operations. The combined water, wastewater and garbage funds are budgeted to operate at a $63,625.00 deficit. The city was unable to provide a current monthly financial statement to verify YTD revenues and expenditures compared to the budget. The city has recently struggled with being able to meet all of their accounts payable including making electric payments on time and purchasing heating oil due to increasing cost. At present, the city is current on paying its electric bills and it purchases fuel as needed, and when funds are available. The utility meets the essential indicator for being current on its electric bills, however it will probably continue to struggle meeting this obligation due to the overall financial condition of the city. The Mayor provides the council with verbal status reports on the utility. The council does not make budget amendments during the fiscal year. Once the council has adopted the budget, it remains the same until the next year's budget is prepared.