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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, 1996
<br />Statement 4
<br />Enterprise Funds
<br />1996 1995
<br />Operating revenue:
<br />Water sales $401,889 $315,838
<br />Sewer charges 527,507 460,668
<br />Other operating revenue 29,108 45,089
<br />Total operating revenue 958,504 821,595
<br />Operating expenses:
<br />Personal services 145,181 133,505
<br />Materials and supplies 42,286 48,115
<br />Contractual services 74,332 26,330
<br />Repair and maintenance 8,576 14,010
<br />MCES sewer charges 260,421 236,388
<br />Depreciation:
<br />Purchased assets 29,550 23,020
<br />Contributed assets 299,864 281,455
<br />Utilities 83,672 67,604
<br />Other 3,851 3,261
<br />Total operating expenses 947,733 833,688
<br />Net income (loss) from operations 10,771 _ (12,093)
<br />Other income (expense):
<br />Interest on investments 46,793 26,275
<br />Area and unit charges 179,250
<br />Bond interest (144,228) (63,718)
<br />Paying agent fees (26,653) (400)
<br />Total other income (expense) (124,088) 141,407
<br />Net income before operating transfers: (113,317) 129,314
<br />Operating transfers:
<br />Operating transfer from Capital Project Fund 104,565
<br />Operating transfer to Capital Project Fund (179,250)
<br />Total operating transfers 0 (74,685)
<br />Net income (loss) (113,317) 54,629
<br />Credit arising from transfer of depreciation
<br />to contributions from property owners 299,864 281,455
<br />Retained earnings - January 1 786,265 450,181
<br />Retained earnings - December 31 $972,812 $786,265
<br />28 The accompanying notes are an integral part of these financial statements.
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