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CITY OF LITTLE CANADA, MINNESOTA
<br />STATEMENT OF REVENUES, EXPENSES AND
<br />CHANGES 114 FUND NET ASSETS
<br />PROPRIETARY FUNDS
<br />For The Year Ended December 31, 2005
<br />Statement 7
<br />Business -Type Activities Enterprise Funds
<br />Water Sewer Infra Activity Total
<br />Operating Operating Elimination 2005 2004
<br />Operating revenues:
<br />General customers $976,349 81,163,503 $ - $2,139,852 82,159,530
<br />Other 2,940 - - 2,940 2,526
<br />Meter sales 17,957 - 17,957 14,876
<br />Total operating revenues 997,246 1,163,503 0 2,160,749 2,176,932
<br />Operating expenses:
<br />Personal services 204,335 210,434 - 414,769 384,107
<br />MCES - sewer service charge 774,438 - 774,438 708,894
<br />Water purchases 559,483 - - 559,483 660,127
<br />Supplies, services and other charges 102,131 43,585 - 145,716 154,381
<br />Depreciation 187,343 108,547 - 295,890 250,833
<br />Total operating expenses 1,053,292 1,137,004 0 2,190,296 2,158,342
<br />Operating income (loss) (56,046) 26,499 0 (29,547) 18,590
<br />Nonoperating revenues (expenses):
<br />Investment income 13,969 21,402 - 35,371 29,296
<br />Rental of City property 17,869 - - 17,869 15,863
<br />Miscellaneous 1,054 3,991 5,045 (80)
<br />Total nonoperating revenues (expenses) 32,892 25,393 0 58,285 45,079
<br />Income (loss) before contributions and transfers (23,154) 51,892 - 28,738 63,669
<br />Capital contributions 187,973 137,083 - 325,056 2,122,646
<br />Transfers:
<br />Transfers out (187,143) (108,547) _
<br />) ( 1 ) (295,690) (250,833)
<br />Change in net assets (22,324) 80,428 0 58,104 1,935,482
<br />Net assets- January I, as previously reported 5,845,282 3,475,023 - 9,320,305 7,400,900
<br />Cumulative effect of change in accounting principle - - - (16,077)
<br />Net assets - January 1, as restated 5,845,282 3,475,023 0 9,320,305 7,384,823
<br />Net assets - December 31
<br />Amounts reported above
<br />Amounts reported for business -type activities in the 325,056 (295,690)
<br />statement of activities are different because:
<br />Transfer in of capital assets from governmental activities (283,971) 283,971
<br />Amounts reported on the statement of activities
<br />$5,822,958 $3,555,451 $0 $9,378,409 $9,320,305
<br />Capital Transfers -
<br />Contributions Net
<br />A -8
<br />$41,085 ($11,719)
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