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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, 1988
<br />Statement 13
<br />December 31,
<br />Water Sewer 1988 1987
<br />Operating revenue:
<br />Charges for services $43,708 $69,873 $113,581 $71,434
<br />Other operating revenue 12,527 1,971 14,498 6,916
<br />Total operating revenue 56,235 71,844 128,079 78,350
<br />Operating expenses:
<br />Personal services 19,147 15,819 34,966 29,577
<br />Materials and supplies 1,233 1,108 2,341 4,532
<br />Contractual services 1,068 856 1,924 8,295
<br />Repair and maintenance 16,712 423 17,135 11,003
<br />MWCC sewer charges 36,025 36,025 33,709
<br />Depreciation:
<br />Purchased assets 645 168 813 1,082
<br />Contributed assets 9,058 13,472 22,530 22,530
<br />Utilities 2,676 2,225 4,901 2,849
<br />Sewer service charge 956
<br />Other 1,589 2,308 3,897 2,835
<br />Total operating expenses 52,128 72,404 124,532 117,368
<br />Net income (loss) from operations $4,107 ($560) 3,547 (39,018)
<br />Other income :
<br />Maintenance agreement - MWCC
<br />7,319 10,072
<br />Net income (loss) 10,866 (28,946)
<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 33,396 (6,416)
<br />Retained earnings - January 1 14,458 20,874
<br />Retained earnings - December 31 $47,854 $14,458
<br />The accompanying notes are an integral part of these financial statements.
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