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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, 2023
<br />601 Water 602 Sewer 603 Storm Water Totals
<br />Operating revenues:
<br />Charges for services $2,197,651 $2,054,721 $552,121 $4,804,493
<br />Hook-up charges 30,000 25,040 - 55,040
<br />Water meter sales 96,112 - - 96,112
<br />Total operating revenues 2,323,763 2,079,761 552,121 4,955,645
<br />Operating expenses:
<br />Personal services 354,335 363,836 161,636 879,807
<br />Materials and supplies 317,641 24,845 4,835 347,321
<br />Contractual services 359,463 267,949 407,658 1,035,070
<br />Repairs and maintenance 10,034 - - 10,034
<br />MCES sewer charges - 1,165,548 - 1,165,548
<br />Depreciation 796,587 611,106 - 1,407,693
<br />Utilities 134,488 50,068 - 184,556
<br />Other 54,554 51,891 3,275 109,720
<br />Total operating expenses 2,027,102 2,535,243 577,404 5,139,749
<br />Operating income (loss)296,661 (455,482) (25,283) (184,104)
<br />Nonoperating revenues (expenses):
<br />Investment earnings 280,682 429,729 17,599 728,010
<br />Intergovernmental revenue 7,079 51,953 - 59,032
<br />Total nonoperating revenues (expenses)287,761 481,682 17,599 787,042
<br />Income (loss) before contributions and transfers 584,422 26,200 (7,684) 602,938
<br />Contributions and transfers:
<br />Capital contributions from private sources 360 8,185 - 8,545
<br />Capital contributions from governmental activities 1,426,587 179,107 - 1,605,694
<br />Transfer out (954,910) (134,474) - (1,089,384)
<br />Total contributions and transfers 472,037 52,818 - 524,855
<br />Change in net position 1,056,459 79,018 (7,684) 1,127,793
<br />Net position - January 1 32,657,480 31,454,327 255,159 64,366,966
<br />Net position - December 31 $33,713,939 $31,533,345 $247,475 $65,494,759
<br />Capital
<br />Grants and
<br />Contributions Transfers - Net
<br />Amounts reported above $1,614,239 ($1,089,384)
<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 (1,605,694) 1,605,694
<br />Amounts reported on the statement of activities $8,545 $516,310
<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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