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CITY OF LINO LAKES, MINNESOTA
<br />STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET ASSETS - PROPRIETARY FUNDS
<br />Year Ended December 31, 2004
<br />Statement 8
<br />Water
<br />Totals
<br />Sewer 2004
<br />Operating revenue:
<br />Charges for services $ 897,120 $ 1 ,260,342 $ 2,1 57,462
<br />Hook -up charges 25,250 20,310 45,560
<br />Water meter sales 54,460 54,460
<br />Other operating revenue 2,245 2,245
<br />Total operating revenue 979,075 1,280,652 2,259,727
<br />Operating expenses:
<br />Personal services 165,855 157,159 323,014
<br />Materials and supplies 160,592 11,261 171,853
<br />Contractual services 37,001 58,961 95,962
<br />MCES sewer charges 495,023 495,023
<br />Depreciation 322,835 376,800 699,635
<br />Utilities 62,845 22,859 85,704
<br />Other 16,682 8,931 25,613
<br />Total operating expenses 765,810 1,130,994 1,896,804
<br />Net income (loss) from operations 213,265 149,658 362,923
<br />Other income (expense):
<br />Investment earnings 8,846 25,987 34,833
<br />Special assessments 13,966 128 14,094
<br />Bond interest (144,860) (144,860)
<br />Paying agent fees (3,369) - (3,369)
<br />Total other income (expense) (125,417) 26,115 (99,302)
<br />Net income before contributions and transfers 87,848 175,773 263,621
<br />Contributions and transfers:
<br />Contributions from private sources 842,183 733,142 1,575,325
<br />Transfer from Capital Projects Fund 303,108 - 303,108
<br />Total contributions and transfers 1,145,291 733,142 1,878,433
<br />Net income (loss) 1,233,139 908,915 2,142,054
<br />Net Assets - January 1 11,487,807 17,828,512 29,316,319
<br />Net Assets - December 31 $ 12,720,946 $ 18,737,427 $ 31,458,373
<br />The accompanying notes are an integral part of these basic financial statements.
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