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<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 1996 Annual Financial Report. Statements of
<br />income and expense for 1996 (excluding depreciation on contributed assets) for the water and
<br />sewer utility fund are shown in the following schedule:
<br />Water Sewer
<br />1995 1996 1995 1996
<br />Operating revenue:
<br />Charges for services S290,588 S377,764 $439,843 5508,407
<br />Other 47,886 53,233 43,278 19,100
<br />Total operating revenue 338,474 430,997 483,121 527,507
<br />Operating expenses:
<br />Personal services 69,790 73,337 63,715 71,844
<br />Materials and supplies 47,250 40,019 865 2,267
<br />Contractual services 17,361 47,619 8,969 17,828
<br />Repair and maintenance 9,040 6,351 4,970 2,225
<br />MCES sewer charges - 236,388 260,421
<br />Depreciation 22,227 25,618 793 3,932
<br />Other 34,283 43,452 36,582 44,071
<br />Total operating expenses 199,951 236,396 352,282 402,588
<br />Income from operations
<br />138,523 194,601 130,839 124,919
<br />Other income (expense):
<br />Interest on investments 18,708 35,313 7,567 11,480
<br />Maintenance agreement - MCES
<br />Area and unit charges 179,250 -
<br />Bond interest and paying agent fees (64,118) (170,881)
<br />Total other income 133,840 (135,568) 7,567 11,480
<br />Net income before transfers 272,363 59,033 138,406 136,399
<br />Transfer from Area and Unit Charge Fund 104,565
<br />Transfer to Area and Unit Charge Fund (179,250) -
<br />Net increase in retained earnings 197,678 59,033 138,406 136,399
<br />Retained earnings - January 1, 1995 276,830 474,508 173,400 311,806
<br />Retained earnings - December 31, 1995 5474,508 $533,541 5311,806 5448,205
<br />As shown above, both the water and sewer funds experienced net increases in retained
<br />earnings for 1995 and 1996. Also as shown above, the single largest expense of the sewer fund is
<br />MCES sewer charges.
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