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CITY OF LINO LAKES, MINNESOTA
<br />- ENTERPRISE FUND
<br />COMBINING STATEMENT OF REVENUE, EXPENSES
<br />AND CHANGES IN RETAINED EARNINGS
<br />For The Year Ended December 31, 1996
<br />With Comparative Totals For The Year Ended December 31, 1995
<br />Statement 15
<br />Gas Totals
<br />Water Sewer Utility 1996 1995
<br />VI
<br />Operating revenue:
<br />-
<br />Charges for services $377,764 $508,407 $ $886,171 $730,431
<br />- Hook -up charges 24,125 19,100 43,225 46,075
<br />Water meter sales 28,960 - 28,960 22,121
<br />Other operating revenue 148 148 22,968
<br />Total operating revenue 430,997 527,507 0 958,504 821,595
<br />Operating expenses:
<br />Personal services 73,337 71,844 145,181 133,505
<br />- Materials and supplies 40,019 2,267 42,286 48,115
<br />_ Contractual services 47,619 17,828 8,885 74,332 26,330
<br />Repair and maintenance 6,351 2,225 - 8,576 14,010
<br />- MCES sewer charges - 260,421 260,421 236,388
<br />Depreciation:
<br />Purchased assets 25,618 3,932 29,550 23,020
<br />Contributed assets 115,843 184,021 299,864 281,455
<br />,,
<br />Utilities 41,472 42,200 83,672 67,604
<br />Other 1,980 1,871 3,851 3,261
<br />Total operating expenses 352,239 586,609 8,885 947,733 833,688
<br />- Net income (loss) from operations 78,758 (59,102) (8,885) 10,771 (12,093)
<br />▪ Other income (expense):
<br />Interest on investments 35,313 11,480 46,793 26,275
<br />Area and unit charges - - 179,250
<br />N. Bond interest (144,228) (144,228) (63,718)
<br />_ Paying agent fees (26,653) (26,653) (400)
<br />Total other income (expense) (135,568) 11,480 0 (124,088) 141,407
<br />Net income (loss) before operating transfers (56,810) (47,622) (8,885) (113,317) 129,314
<br />Operating transfers:
<br />Operating transfer from Capital Project Funds 104,565
<br />Operating transfer to Capital Project Funds (179,250)
<br />Total operating transfers 0 0 0 0 (74,685)
<br />Net income (loss) (56,810) (47,622) (8,885) (113,317) 54,629
<br />Credit arising from transfer of depreciation
<br />to contributed capital 115,843 184,021 299,864 281,455
<br />- Retained earnings (deficit) - January 1 474,508 311,806 (49) 786,265 450,181
<br />Retained earnings (deficit) - December 31 $533,541 $448,205 ($8,934) $972,812 $786,265
<br />85
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