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<br />32
<br />CITY OF LINO LAKES, MINNESOTA Statement 8
<br />STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION - PROPRIETARY FUNDS
<br />Year Ended December 31, 2015
<br />Total
<br />Water Sewer 2015
<br />Operating revenue:
<br /> Charges for services 972,096$ 1,611,053$ 2,583,149$
<br /> Hook-up charges 13,260 10,580 23,840
<br /> Water meter sales 15,128 - 15,128
<br /> Other operating revenue 14,352 - 14,352
<br /> Total operating revenue 1,014,836 1,621,633 2,636,469
<br />Operating expenses:
<br /> Personal services 204,983 209,624 414,607
<br /> Materials and supplies 136,270 29,145 165,415
<br /> Contractual services 117,204 128,324 245,528
<br /> MCES sewer charges - 751,648 751,648
<br /> Depreciation 836,772 892,427 1,729,199
<br /> Utilities 84,645 41,263 125,908
<br /> Other 15,023 37,411 52,434
<br /> Total operating expenses 1,394,897 2,089,842 3,484,739
<br />Net income (loss) from operations (380,061) (468,209) (848,270)
<br />Other income (expense):
<br /> Investment earnings 33,166 47,918 81,084
<br /> Net increase (decrease) in fair value of investments (12,245) (17,672) (29,917)
<br /> Special assessments 472 473 945
<br /> Total other expense 21,393 30,719 52,112
<br />Net income before contributions and transfers (358,668) (437,490) (796,158)
<br />Capital contributions and transfers:
<br /> Contributions from private sources 263,024 142,017 405,041
<br /> Capital contributions from primary government 1,708,933 1,183,136 2,892,069
<br /> Transfer out (33,417) (33,417) (66,834)
<br /> Total contributions and transfers 1,938,540 1,291,736 3,230,276
<br />Change in net position 1,579,872 854,246 2,434,118
<br />Net position - January 1 18,860,755 22,583,545 41,444,300
<br />Prior Period restatement for Implementation
<br /> of GASB Standard (See Note 20) (38,999) (38,960) (77,959)
<br />Net position - January 1, as Restated 18,821,756 22,544,585 41,366,341
<br />Net position - December 31 20,401,628$ 23,398,831$ 43,800,459$
<br />The accompanying notes are an integral part of these basic financial statements.
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