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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, 2022
<br />601 Water 602 Sewer 603 Storm Water Totals
<br />Operating revenues:
<br />Charges for services $1,723,692 $1,922,439 $486,069 $4,132,200
<br />Hook-up charges 37,030 29,860 - 66,890
<br />Water meter sales 84,590 - - 84,590
<br />Total operating revenues 1,845,312 1,952,299 486,069 4,283,680
<br />Operating expenses:
<br />Personal services 326,919 335,257 164,987 827,163
<br />Materials and supplies 345,357 68,913 15,467 429,737
<br />Contractual services 183,507 164,662 67,714 415,883
<br />Repairs and maintenance 1,206,321 - - 1,206,321
<br />MCES sewer charges - 1,087,739 - 1,087,739
<br />Depreciation 789,107 597,713 - 1,386,820
<br />Utilities 127,409 50,988 348 178,745
<br />Other 40,730 42,267 2,962 85,959
<br />Total operating expenses 3,019,350 2,347,539 251,478 5,618,367
<br />Operating income (loss) (1,174,038) (395,240) 234,591 (1,334,687)
<br />Nonoperating revenues (expenses):
<br />Investment earnings (246,188) (398,835) (895) (645,918)
<br />Income (loss) before contributions and transfers (1,420,226) (794,075) 233,696 (1,980,605)
<br />Contributions and transfers:
<br />Capital contributions from private sources 2,694,636 2,573,920 - 5,268,556
<br />Capital contributions from governmental activities 498,130 1,141,087 - 1,639,217
<br />Transfer in - - 76,620 76,620
<br />Transfer out (573,283) - - (573,283)
<br />Total contributions and transfers 2,619,483 3,715,007 76,620 6,411,110
<br />Change in net position 1,199,257 2,920,932 310,316 4,430,505
<br />Net position - January 1, as previously reported 31,458,223 28,533,395 - 59,991,618
<br />Change in reporting entity - See Note 18 - - (55,157) (55,157)
<br />Net position - January 1, as restated 31,458,223 28,533,395 (55,157) 59,936,461
<br />Net position - December 31 $32,657,480 $31,454,327 $255,159 $64,366,966
<br />Capital
<br />Contributions Transfers - Net
<br />Amounts reported above $6,907,773 ($496,663)
<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 (1,639,217) 1,639,217
<br />Amounts reported on the statement of activities $5,268,556 $1,142,554
<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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