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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, 2006
<br />Water
<br />Totals
<br />Sewer 2006
<br />Operating revenue:
<br />Charges for services $ 1,107,107 $ 1,371,832 $ 2,478,939
<br />Hook -up charges 26,321 19,870 46,191
<br />Water meter sales 32,783 32,783
<br />Other operating revenue 8,961 - 8,961
<br />Total operating revenue 1,175,172 1,391,702 2,566,874
<br />Operating expenses:
<br />Personal services 164,548 151,643 316,191
<br />Materials and supplies 219,842 23,184 243,026
<br />Contractual services 41,310 77,895 119,205
<br />MCES sewer charges - 537,824 537,824
<br />Depreciation 353,349 404,200 757,549
<br />Utilities 53,078 25,111 78,189
<br />Other 15,230 8,266 23,496
<br />Total operating expenses 847,357 1,228,123 2,075,480
<br />Net income from operations 327,815 163,579 491,394
<br />Other income (expense):
<br />Investment earnings 86,890 166,897 253,787
<br />Special assessments 11,171 109 11,280
<br />Bond interest (127,254) (127,254)
<br />Paying agent fees (1,964) (1,964)
<br />Total other income (expense) (31,157) 167,006 135,849
<br />Net income before contributions and transfers 296,658 330,585 627,243
<br />Contributions and transfers:
<br />Contributions from private sources 635,765 888,586 1,524,351
<br />Transfer in 299,725 299,725
<br />Total contributions and transfers 935,490 888,586 1,824,076
<br />Net income 1,232,148 1,219,171 2,451,319
<br />Net Assets - January 1 14,000,428 19,914,742 33,915,170
<br />Net Assets - December 31 $ 15,232,576 $ 21,133,913 $ 36,366,489
<br />The accompanying notes are an integral part of these basic financial statements.
<br />IV -10
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