|
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, 1995
<br />Statement 4
<br />Enterprise Funds
<br />1995 1994
<br />Operating revenue:
<br />Water sales $315,838 $252,301
<br />Sewer charges 460,668 357,605
<br />Other operating revenue 45,089 51,943
<br />Total operating revenue 821,595 661,849
<br />Operating expenses:
<br />Personal services 133,505 95,334
<br />Materials and supplies 48,115 49,882
<br />Contractual services 26,330 16,475
<br />Repair and maintenance 14,010 8,814
<br />MCES sewer charges 236,388 224,268
<br />Depreciation:
<br />Purchased assets 23,020 20,911
<br />Contributed assets 281,455 266,187
<br />Utilities 67,604 59,238
<br />Other 3,261 9,170
<br />Total operating expenses 833,688 750,279
<br />Net income (loss) from operations (12,093) (88,430)
<br />Other income (expense):
<br />Interest on investments 26,275 11,957
<br />Maintenance agreement - MCES - 12,699
<br />Area and unit charges 179,250 183,667
<br />Bond interest (63,718) (65,680)
<br />Paying agent fees (400) (400)
<br />Total other income (expense) 141,407 142,243
<br />Net income before operating transfers: 129,314 53,813
<br />Operating transfers:
<br />Operating transfer from Capital Project Fund 104,565 91,548
<br />Operating transfer to Capital Project Fund (179,250) (183,667)
<br />Total operating transfers (74,685) (92,119)
<br />Net income (loss) 54,629 (38,306)
<br />Credit arising from transfer of depreciation
<br />to contributions from property owners 281,455 266,187
<br />Retained earnings - January 1 450,181 222,300
<br />Retained earnings - December 31 $786,265 $450,181
<br />24
<br />The accompanying notes are an integral part of these financial statements.
<br />
|