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CITY OF LINO LAKES <br />WATER AND SEWER FUND <br />STATEMENT OF INCOME <br />For the Year Ended December 31, 1977 <br />Over <br />(Under) <br />Actual Budget Budget. <br />Operating revenue: <br />Water sales $ 1,808 <br />Sewer service 2,156 <br />Metropolitan Waste Control Commission 3,646 <br />Other 569 <br />Total Operating Revenue 8,179 $ 4,500 $ 3,679 <br />Operating expenses: <br />Salaries 3,845 $ 1,280 $ 2,565 <br />Contracted services 1,063 1,063 <br />Utilities 1,616 1,860 (244) <br />Bulk fuels 794 794 <br />Depreciation 11,480 11,480 <br />Metropolitan Waste Control Commission Charges 2,589 3,900 (1,311) <br />Other 299 50 249 <br />Total Operating Expenses 21,686 $ 7,090 $ 14,596 <br />NET LOSS (13,507) <br />Add: Credit arising from depreciation charged <br />to contributed equity <br />Loss Charged to Retained Earnings <br />11,480 <br />$ (2,027) <br />The accompanying Notes to Financial Statements are an integral part of this statement. <br />- 15 - <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />1 <br />r <br />