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CITY OF LITTLE CANADA, MINNESOTA
<br />STATEMENT OF REVENUES, EXPENSES AND CHANGES IN NET POSITION
<br />PROPRIETARY FUNDS
<br />YEAR ENDED DECEMBER 31, 2015
<br />WITH COMPARATIVE TOTALS FOR YEAR ENDED DECEMBER 31, 2014
<br />
<br />
<br />
<br />See accompanying Notes to Basic Financial Statements.
<br />(34)
<br />
<br />Water Sewer 2014
<br />(601)(602/603)Totals Totals
<br />OPERATING REVENUE
<br />General Customers 1,442,752$ 1,270,560 2,713,312$ 2,683,229$
<br />Other 680 - 680 630
<br />Meter Sales 11,610 - 11,610 9,686
<br />Total Operating Revenue 1,455,042 1,270,560 2,725,602 2,693,545
<br />OPERATING EXPENSES
<br />Personnel Services 295,853 306,332 602,185 590,533
<br />MCES - Sewer Service Charge - 721,654 721,654 623,083
<br />Purchased Water 739,037 - 739,037 863,442
<br />Supplies, Services, and Other Charges 150,148 86,266 236,414 352,098
<br />Depreciation 249,611 146,664 396,275 394,941
<br />Total Operating Expenses 1,434,649 1,260,916 2,695,565 2,824,097
<br />OPERATING INCOME (LOSS)20,393 9,644 30,037 (130,552)
<br />NONOPERATING REVENUE
<br />Investment Earnings 8,794 16,620 25,414 40,058
<br />Rental of City Property 63,720 - 63,720 57,808
<br />Miscellaneous Revenue 2,666 3,521 6,187 4,852
<br />Total Nonoperating Revenue 75,180 20,141 95,321 102,718
<br />INCOME (LOSS) BEFORE TRANSFERS
<br />AND CAPITAL CONTRIBUTIONS 95,573 29,785 125,358 (27,834)
<br />Transfers Out (200,000) (100,000) (300,000) (300,000)
<br />Capital Contributions 34,825 66,604 101,429 324,720
<br />CHANGES IN NET POSITION (69,602) (3,611) (73,213) (3,114)
<br />NET POSITION
<br />Beginning of Year 5,984,071 4,801,953 10,786,024 10,789,138
<br />Prior Period Restatement, See Note 19 (186,439) (191,344) (377,783) -
<br />Beginning of Year, as Restated 5,797,632 4,610,609 10,408,241 10,789,138
<br />End of Year 5,728,030$ 4,606,998$ 10,335,028$ 10,786,024$
<br />Business-Type Activities
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