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C1TY OF LINO LAKES, MINNESOTA
<br />COMBINED STATEMENT OF REVENUE, EXPENSES AND
<br />CHANGES IN RETAINED EARNINGS - PROPRIETARY FUND TYPE
<br />For The Year Ended December 31, 1987
<br />Statement 4
<br />December 31,
<br />1987 1986
<br />Operating revenue:
<br />Water sales $21,492 $11,608
<br />Sewer charges 49,942 41,655
<br />Other operating revenue 6,916 4,676
<br />Total operating revenue 78,350 57,939
<br />Operating expenses:
<br />Personal services 29,577 16,204
<br />Materials and supplies 4,532 3,623
<br />Contractual services 8,295 710
<br />Repair and maintenance 11,003 5,313
<br />MWCC sewer charges 33,709 28,272
<br />Depreciation:
<br />Purchased assets 1,082 984
<br />Contributed assets 22,530 22,530
<br />Utilities 2,849 2,229
<br />Sewer service charge 956 2,110
<br />Other 2,835 336
<br />Total operating expenses 117,368 82,311
<br />Net income (loss) from operations
<br />Other income :
<br />Maintenance agreement - MWCC
<br />Net other income
<br />Net income (loss)
<br />(39,018) (24,372)
<br />10,072
<br />10,072
<br />7,100
<br />7,100
<br />(28,946) (17,272)
<br />Other increases :
<br />Credit arising from transfer of depreciation
<br />to contributions from property owners 22,530 22,530
<br />Net other increases (decreases) 22,530 22,530
<br />Net increase (decrease) in retained earnings (6,416) 5,258
<br />Retained earnings - January 1 20,874 15,616
<br />Retained earnings - December 31 $14,458 $20,874
<br />The accompanying notes are an integral part of these financial statements.
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