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CITY OF LINO LAKES, MINNESOTA
<br />STATEMENT OF REVENUES, EXPENSES AND Statement 8
<br />PROPRIETARY FUNDS
<br />For The Year Ended December 31, 2019
<br />601 Water 602 Sewer Totals
<br />Operating revenues:
<br />Charges for services $1,100,675 $1,745,709 $2,846,384
<br />Hook-up charges 31,510 25,434 56,944
<br />Water meter sales 37,442 - 37,442
<br />Other operating revenue 2,953 - 2,953
<br />Total operating revenues 1,172,580 1,771,143 2,943,723
<br />Operating expenses:
<br />Personal services 297,355 305,645 603,000
<br />Materials and supplies 174,870 30,492 205,362
<br />Contractual services 128,800 122,540 251,340
<br />MCES sewer charges - 977,612 977,612
<br />Depreciation 603,559 495,816 1,099,375
<br />Utilities 97,224 44,927 142,151
<br />Other 18,968 25,679 44,647
<br />Total operating expenses 1,320,776 2,002,711 3,323,487
<br />Operating income (loss) (148,196) (231,568) (379,764)
<br />Nonoperating revenues (expenses):
<br />Investment earnings 210,056 313,498 523,554
<br />Loss on sale of capital assets (2,035) - (2,035)
<br />Total nonoperating revenues (expenses) 208,021 313,498 521,519
<br />Income before contributions and transfers 59,825 81,930 141,755
<br />Contributions and transfers:
<br />Capital contributions from private sources 1,291,185 1,603,609 2,894,794
<br />Capital contributions from governmental activities 921,368 616,947 1,538,315
<br />Transfer out (226,722) - (226,722)
<br />Total contributions and transfers 1,985,831 2,220,556 4,206,387
<br />Change in net position 2,045,656 2,302,486 4,348,142
<br />Net position - January 1 23,481,908 24,797,998 48,279,906
<br />Net position - December 31 $25,527,564 $27,100,484 $52,628,048
<br />Capital
<br />Contributions Transfers - Net
<br />Amounts reported above $4,433,109 ($226,722)
<br />Amounts reported for business-type activities in the
<br />statement of activities are different because:
<br />Transfer in of capital assets from governmental activities (1,538,315) 1,538,315
<br />Amounts reported on the statement of activities $2,894,794 $1,311,593
<br />CHANGES IN FUND NET POSITION
<br />Business-Type Activities - Enterprise Funds
<br />The accompanying notes are an integral part of these financial statements.
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