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APR * 9 1996 BOOK 64 FA,J06 Overall, the County's fund equity rose about 14%. Pages 28 8 29 show the Combined Statement of Revenue Expenditures and changes in fund balance for all your governmen- tal fund types, which does not include the enterprise operations. Total revenues were about 271 million, up about 18%, and expenditures were about 28 million, up about 15%. The County about broke even last year and has a relatively good fund balance. The General Fund is also in relatively good shape as far as fund balance as a percentage of expenditures is concerned. Chairman Scurlock noted the General Revenue Funds were increased over the previous year by $4,356,000, but if you look at the total revenues compared with the increase in expenditures, it looks as if what we have done is invaded cash carry forward and contingency funds again the second year in a row. He emphasized that is a dangerous habit and we need to be cautious about continuing this practice. Mr. Landorf agreed with, but noted the Board did not go into it very much. Commissioner Wodtke asked if the fund balances at the end of the year were approximately the same as last year, and Mr. Landorf stated that they were pretty much -the same; they actually were down about $60,000. Chairman Scurlock brought up the fact that we actually are a year ahead of this report, and he felt, especially in regard to bond coverage, this can be a little misleading as to what current conditions are. He referred to page 5 of the Letter of Trans- mittal which shows 1.53 bond coverage in 1983 which increased to 1.81 and then again this year to 1.91, and believed the question that arises is why we are having rate increases if our bond coverage is increasing by those amounts. Mr. Landorf agreed this can be misleading, but noted that you have to be careful when you look at bond coverage because it does not include factors for replacing the plant and equipment; 34