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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, 2024
<br />601 Water 602 Sewer 603 Storm Water Totals
<br />Operating revenues:
<br />Charges for services $1,937,526 $2,157,807 $559,217 $4,654,550
<br />Hook-up charges 34,000 28,680 - 62,680
<br />Water meter sales 100,582 - - 100,582
<br />Total operating revenues 2,072,108 2,186,487 559,217 4,817,812
<br />Operating expenses:
<br />Personal services 409,500 419,091 189,706 1,018,297
<br />Materials and supplies 353,106 77,690 5,853 436,649
<br />Contractual services 250,296 297,523 208,377 756,196
<br />MCES sewer charges - 1,291,179 - 1,291,179
<br />Depreciation 927,267 753,799 - 1,681,066
<br />Utilities 97,816 44,614 - 142,430
<br />Other 89,096 105,236 5,384 199,716
<br />Total operating expenses 2,127,081 2,989,132 409,320 5,525,533
<br />Operating income (loss)(54,973) (802,645) 149,897 (707,721)
<br />Nonoperating revenues (expenses):
<br />Investment earnings 250,835 331,428 21,519 603,782
<br />Interest expense (3,092) - - (3,092)
<br />Intergovernmental revenue 7,589 - - 7,589
<br />Total nonoperating revenues (expenses)255,332 331,428 21,519 608,279
<br />Income (loss) before contributions and transfers 200,359 (471,217) 171,416 (99,442)
<br />Contributions and transfers:
<br />Capital contributions from private sources 911,151 1,208,076 - 2,119,227
<br />Capital contributions from governmental activities 6,008,188 - - 6,008,188
<br />Transfer out (2,024,951) - (55,507) (2,080,458)
<br />Total contributions and transfers 4,894,388 1,208,076 (55,507) 6,046,957
<br />Change in net position 5,094,747 736,859 115,909 5,947,515
<br />Net position - January 1 33,713,939 31,533,345 247,475 65,494,759
<br />Net position - December 31 $38,808,686 $32,270,204 $363,384 $71,442,274
<br />Capital
<br />Grants and
<br />Contributions Transfers - Net
<br />Amounts reported above $8,127,415 ($2,080,458)
<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 (6,008,188) 6,008,188
<br />Amounts reported on the statement of activities $2,119,227 $3,927,730
<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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