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CITY OF LINO LAKES, MINNESOTA
<br />COMBINED STATEMENT OF REVENUE, EXPENSES AND
<br />CHANGES IN RETAINED EARNINGS - ALL PROPRIETARY FUND TYPES
<br />For The Year Ended December 31, 1990
<br />Statement 4
<br />Totals
<br />(Memorandum Only)
<br />December 31,
<br />1990 1989
<br />Operating revenue:
<br />Water sales $99,894 $72,238
<br />Sewer charges 119,112 82,408
<br />Other operating revenue 28,100 26,942
<br />Total operating revenue 247,106 181,588
<br />Operating expenses:
<br />Personal services 61,965 35,549
<br />Materials and supplies 2,295 2,458
<br />Contractual services 17,504 8,590
<br />Repair and maintenance 38,845 35,798
<br />MWCC sewer charges 63,655 50,531
<br />Depreciation:
<br />Purchased assets 820 769
<br />Contributed assets 72,431 67,001
<br />Utilities 13,335 18,049
<br />Other 10,206 574
<br />Total operating expenses 281,056 219,319
<br />Net (loss) from operations
<br />(33,950) (37,731)
<br />Other income:
<br />Interest on investments 256
<br />Maintenance agreement - MWCC 7,233
<br />Total other income 7,489
<br />Net (loss)
<br />10,656
<br />10,656
<br />(26,461) (27,075)
<br />Other increases (decreases):
<br />Credit arising from transfer of depreciation
<br />to contributions from property owners 72,431 67,001
<br />Operating transfer to Capital Project Fund (80,365)
<br />Total other increases (decreases) (7,934) 67,001
<br />Net increase (decrease) in retained earnings (34,395) 39,926
<br />Retained earnings - January 1 87,780 47,854
<br />Retained earnings - December 31 $53,385 $87,780
<br />The accompanying notes are an integral part of these financial statements.
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