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CITY OF LINO LAKES, MINNESOTA
<br />Statement 15
<br />ENTERPRISE FUND
<br />COMBINING STATEMENT OF REVENUE, EXPENSES
<br />AND CHANGES IN RETAINED EARNINGS
<br />For The Year Ended December 31, 1990
<br />Gas December 31,
<br />Water and Sewer Utility 1990 1989
<br />(Memorandum
<br />Operating revenue: Only)
<br />Charges for services $219,006 $219,006 $154,646
<br />Other operating revenue 28,100 28,100 26,942
<br />Total operating revenue 247,106 $0 247,106 181,588
<br />Operating expenses:
<br />Personal services 61,965 61,965 35,549
<br />- Materials and supplies 2,295 2,295 2,458
<br />Contractual services 17,504 17,504 8,590
<br />Repair and maintenance 38,845 38,845 35,798
<br />MWCC sewer charges 63,655 63,655 50,531
<br />-
<br />Depreciation:
<br />Purchased assets 820 820 769
<br />Contributed assets 72,431 72,431 67,001
<br />- Utilities 13,335 13,335 18,049
<br />Other 10,206 10,206 574
<br />Total operating expenses 281,056 0 281,056 219,319
<br />Net (loss) from operations (33,950) 0 (33,950) (37,731)
<br />Other income:
<br />Interest on investments 256 256
<br />Maintenance agreement - MWCC 7,233 7,233 10,656
<br />Total other income 7,489 0 7,489 10,656
<br />- Net (loss) (26,461) 0 (26,461) (27,075)
<br />Other increases (decreases):
<br />Credit arising from transfer of depreciation
<br />to contributions from property owners 72,431 72,431 67,001
<br />Operating transfer to Capital Project Fund (80,365) (80,365)
<br />Total other increases (decreases) (7,934) 0 (7,934) 67,001
<br />Net increase (decrease) in retained earnings (34,395) 0 (34,395) 39,926
<br />Retained earnings - January 1 87,780 0 87,780 47,854
<br />-
<br />Retained earnings - December 31 $53,385 $0 $53,385 $87,780
<br />The accompanying notes are an integral part of these financial statements.
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