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CITY OF LINO LAKES, MINNESOTA Statement 8
<br />STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET ASSETS - PROPRIETARY FUNDS
<br />Year Ended December 31, 2008
<br />Total
<br />Water Sewer 2008
<br />Operating revenue:
<br />Charges for services $ 1,035,462 $ 1,465,001 $ 2,500,463
<br />Hook -up charges 9,020 7,060 16,080
<br />Water meter sales 12,898 - 12,898
<br />Other operating revenue 1,113 32 1,145
<br />Total operating revenue 1,058,493 1,472,093 2,530,586
<br />Operating expenses:
<br />Personal services 185,970 167,782 353,752
<br />Materials and supplies 166,023 13,496 179,519
<br />Contractual services 104,604 62,431 167,035
<br />MCES sewer charges - 565,801 565,801
<br />Depreciation 411,992 432,366 844,358
<br />Utilities 70,388 35,059 105,447
<br />Other 20,066 11,008 31,074
<br />Total operating expenses 959,043 1,287,943 2,246,986
<br />Net income from operations
<br />99,450 184,150 283,600
<br />Other income (expense):
<br />Investment earnings 90,992 183,506 274,498
<br />Special assessments 9,587 530 10,117
<br />Bond interest (56,104) (56,104)
<br />Paying agent fees (5,623) (5,623)
<br />Total other income (expense) 38,852 184,036 222,888
<br />Net income before contributions and transfers 138,302 368,186 506,488
<br />Contributions and transfers:
<br />Capital contributions from primary government 551,965 409,469 961,434
<br />Transfer in 57,768 57,768
<br />Transfer out (25,000) (25,000)
<br />Total contributions and transfers 551,965 442,237 994,202
<br />Change in Net Assets 690,267 810,423 1,500,690
<br />Net Assets - January 1 16,356,188 21,544,570 37,900,758
<br />Net Assets - December 31 $ 17,046,455 $ 22,354,993 $ 39,401,448
<br />31
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