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CITY OF LINO LAKES, MINNESOTA <br />ENTERPRISE FUND <br />WATER AND SEWER FUND <br />STATEMENT OF REVENUE, EXPENSES AND CHANGES IN RETAINED EARNINGS <br />For The Year Ended December 31, 1987 <br />Statement 15 <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 income (loss) <br />(39,018) (24,372) <br />10,072 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. <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 />1 <br />1 <br />1 <br />1 <br />