|
low
<br />VENN
<br />Vms
<br />Vow
<br />City of Lino Lakes, Minnesota
<br />Management Report, Page 36
<br />ENTERPRISE (UTILITY FUND)
<br />The City maintains three enterprise operating funds. The financial statements for these funds
<br />are presented in Statements 14 through 16 of the 1995 Annual Financial Report. Statements of
<br />income and expense for 1995 (excluding depreciation on contributed assets) for the water and
<br />sewer utility fund are shown in the following schedule:
<br />Water Sewer
<br />1994 1995 1994 1995
<br />Operating revenue:
<br />Charges for services $252,301 S290,588 $357,605 $439,843
<br />Other 42,705 47,886 9,238 43,278
<br />Total operating revenue 295,006 338,474 366,843 483,121
<br />Operating expenses:
<br />Personal services 51,133 69,790 44,201 63,715
<br />Materials and supplies 48,758 47,250 1,124 865
<br />Contractual services 4,985 17,361 11,490 8,969
<br />Repair and maintenance 6,625 9,040 2,189 4,970
<br />MCES sewer charges - 224,268 236,388
<br />Depreciation 20,198 22,227 713 793
<br />Other 38,263 34,283 30,145 36,582
<br />Total operating expenses 169,962 199,951 314,130 352,282
<br />Income from operations
<br />125,044 138,523 52,713 130,839
<br />Other income (expense):
<br />Interest on investments 7,691 18,708 4,266 7,567
<br />Maintenance agreement - MCES - 12,699 -
<br />Area and unit charges 183,667 179,250 - -
<br />Bond interest and paying agent fees (66,080) (64,118)
<br />Total other income 125,278 133,840 16,965 7,567
<br />Net income before transfers 250,322 272,363 69,678 138,406
<br />Transfer from Area and Unit Charge Fund 91,548 104,565 -
<br />Transfer to Area and Unit Charge Fund (183,667) (179,250)
<br />Net increase in retained earnings 158,203 197,678 69,678 138,406
<br />Retained earnings - January 1, 1995 118,627 276,830 103,722 173,400
<br />Retained earnings - December 31, 1995 $276,830 $474,508 $173,400 $311,806
<br />As shown above, both the water and sewer funds experienced net increases in retained
<br />earnings for 1994 and 1995. Also as shown above, the single largest expense of the sewer fund is
<br />MCES sewer charges.
<br />
|