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City of Lino Lakes, Minnesota
<br />Management Report, Page 32
<br />ENTERPRISE (UTILITY FUND)
<br />1
<br />The City maintains three enterprise operating funds. The financial statements for these funds
<br />are presented in Statements 14 through 16 of the 1994 Annual Financial Report. Statements of
<br />income and expense for 1994 (excluding depreciation on contributed assets) for the water and
<br />sewer utility fund are shown in the following schedule:
<br />Nor
<br />low
<br />Operating revenue:
<br />Charges for services
<br />Other
<br />Total operating revenue
<br />Operating expenses:
<br />Personal services
<br />Materials and supplies
<br />Contractual services
<br />Repair and maintenance
<br />MCWS sewer charges
<br />Depreciation
<br />Or
<br />Total operating expenses
<br />Income from operations
<br />Other income (expense):
<br />Interest on investments
<br />Maintenance agreement - MCWS
<br />Area and unit charges
<br />Bond interest and paying agent fees
<br />Total other income (expense) 7,671 16,965 _
<br />Water Sewer
<br />1993 1994
<br />$177,536 $252,301
<br />55,863 _ 42,705
<br />233,399 295,006
<br />47,796
<br />79,808
<br />11 ,502
<br />8,297
<br />18
<br />22,028
<br />169,449
<br />51,133
<br />48,758
<br />4,985
<br />6,625
<br />20,198
<br />38,263
<br />169,962
<br />1993 1994
<br />$291,062 $357,605
<br />5,237 9,238
<br />296,299 366,843
<br />43,942 44,201
<br />1,192 1,124
<br />19,983 11,490
<br />9,702 2,189
<br />168,891 224,268
<br />713 713
<br />21,324 30,145
<br />265,747 314,130
<br />63,950 125,044 30,552 52,713
<br />6,251 7,691 377 4,266
<br />7,294 12,699
<br />132,175 183,667
<br />(75,350) (66,080)
<br />63,076 125,278
<br />Net income before transfers
<br />127,026
<br />250,322 38,223 69,678
<br />Transfer from Area and Unit Charge Fund 93,238 91,548
<br />Transfer to Area and Unit Charge Fund (132,175) (183,667)
<br />Net increase in retained earnings 88,089 158,203 38,223 69,678
<br />Retained earnings - January 1, 1994 30,538 118.627 65.499 103.722
<br />Retained earnings - December 31, 1994 $118,627 276 830 $103,722 $173,400
<br />As shown above, both the water and sewer funds experienced net increases in retained
<br />earnings for 1993 and 1994. Also as shown above, the single largest expense of the sewer fund is
<br />MCWS sewer charges.
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