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CITY OF LINO LAKES, MINNESOTA
<br />STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET ASSETS - PROPRIETARY FUNDS
<br />Year Ended December 31, 2010
<br />Statement 8
<br />Total
<br />Water Sewer 2010
<br />Operating revenue:
<br />Charges for services $ 1,059,994 $ 1,491,728 $ 2,551,722
<br />Hook -up charges 8,000 6,490 14,490
<br />Water meter sales 8,698 - 8,698
<br />Other operating revenue 10,321 10,321
<br />Total operating revenue 1,087,013 1,498,218 2,585,231
<br />Operating expenses:
<br />Personal services 172,095 173,937 346,032
<br />Materials and supplies 208,872 43,252 252,124
<br />Contractual services 76,755 70,464 147,219
<br />MCES sewer charges - 681,591 681,591
<br />Depreciation 426,861 445,956 872,817
<br />Utilities 97,060 34,047 131,107
<br />Other 28,640 17,600 46,240
<br />Total operating expenses 1,010,283 1,466,847 2,477,130
<br />Net income from operations 76,730 31,371 108,101
<br />Other income (expense):
<br />Investment earnings 37,249 67,521 104,770
<br />Special assessments 6,216 2,493 8,709
<br />Bond interest (29,858) - (29,858)
<br />Paying agent fees (5,760) (5,760)
<br />Total other income (expense) 7,847 70,014 77,861
<br />Net income before contributions and transfers 84,577 101,385 185,962
<br />Contributions and transfers:
<br />Capital contributions from primary government 57,200 18,000 75,200
<br />Transfer out (34,061) (34,061) (68,122)
<br />Total contributions and transfers 23,139 (16,061) 7,078
<br />Change in Net Assets 107,716 85,324 193,040
<br />Net Assets - January 1 17,614,967 22,569,080 40,184,047
<br />Net Assets - December 31 $ 17,722,683 $ 22,654,404 $ 40,377,087
<br />The accompanying notes are an integral part of these basic financial statements.
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