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APS BOOK 6 4 year and did use some of the impact fee money to do some improvements. He continued that in general the balance sheets are in relatively good shape. Almost 2 million of impact fees were paid up in advance, and those are sitting there as liabilities, but as those projects come on line, that will flow down into the contributions to the system and that money will be available to spend on those facilities, and only those facilities. Page 102 is the operating statement for enterprise funds. The water and sewer fund did reflect a net loss of about $82,000. However, some major system improvements and expansion will be showing as well as picking up additional customers, and that should not be a major concern at this point. The solid waste system ended the year with a net income of $98,000, which is up from roughly $21,000 the previous years. That seems to be functioning okay, but you do have to look to the future expenditures of closing out the Landfill cells and there is a definite need to build some cash in that fund. The County Building Fund did well with a net income of about $202,000. Page 175 This audit was done in compliance with the regula- tions of the Federal Single Audit Act requirements as well as the State's audit requirements. Page 177 This is the Accountant's report on compliance with the requirements of the law as it relates to major and non -major federal programs. Any major program is one where you receive $300,000 or more in cash, and the County has about three major programs to deal with. Page 177 & 179 is a very technical report, which, in a nutshell, is saying that the accountants found no major problems with the administration, etc., associated with major and non -major programs. Page 180 & 181 Includes 2 comments - one dealing with Federal Revenue Sharing where several of the required notifica- 36 M