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- Honorable Mayor and Members of the City Council
<br />City of Lino Lakes
<br />Page 22
<br />Table of Water Fund Revenues and Expenses:
<br />Operating revenue:
<br />Charges for services
<br />Other revenue
<br />Total operating revenue
<br />Operating expenses:
<br />Personal services
<br />Materials and supplies
<br />Contractual services
<br />Repair and maintenance
<br />Depreciation on purchased assets
<br />Utilities
<br />Other
<br />Total operating expenses
<br />Net income (loss) from operations
<br />Other income (expense):
<br />Investment earnings
<br />Special assessments
<br />Bond interest & paying agent fees
<br />Total other income (expense)
<br />Net income (loss) before operating transfers
<br />Operating transfer from General Fund
<br />Operating transfer to Capital Projects Fund
<br />Total Operating Transfers
<br />Net income (loss)
<br />Retained earnings (deficit)
<br />Beginning balance, as previously stated
<br />Prior period adjustment
<br />Beginning balance, as restated
<br />Residual equity transfer to Sewer Fund
<br />Retained earnings - December 31
<br />Depreciation on contributed assets
<br />excluded above
<br />1999 % of Sales 1998 % of Sales
<br />$ 453,092 81.6% $ 519,505 88.6%
<br />102,276 18.4% 66,801 11.4%
<br />555,368 100.0% 586,306 100.0%
<br />118,413 21.3% 87,736 15.0%
<br />132,316 23.8% 73,301 12.5%
<br />69,228 12.5% 17,289 2.9%
<br />0.0% 4,979 0.8%
<br />91,399 16.5% 43,443 7.4%
<br />51,315 9.2% 52,578 9.0%
<br />9,656 1.7% 1,983 0.3%
<br />472,327 85.0% 281,309 48.0%
<br />83,041 15.0% 304,997 52.0%
<br />8,873 1.6% 11,416 1.9%
<br />41,877 7.5% 283 0.0%
<br />(230,800) -41.6% (225,182) -38.4%
<br />(180,050) -32.4% (213,483) -36.4%
<br />(97,009) -17.5% 91,514 15.6%
<br />49,366
<br />0.0% (90,000) -15.4%
<br />49,366 8.9% (90,000) -15.4%
<br />(47,643) -8.6% 1,514 0.3%
<br />180,242 837,555
<br />(3,544)
<br />180,242 834,011
<br />(655,283)
<br />$ 132,599 $ 180,242
<br />165,445 126,168
<br />• Operating Revenue decreased slightly because of the reduced consumption in 1999.
<br />• Income from Operations decreased because of additional personnel and costs associated with the
<br />meter change out program.
<br />• The operating expenses as presented exclude the effects of the depreciation on contributed assets.
<br />These assets represent assets that were constructed using proceeds of special assessment bonds.
<br />While these assets are not included as a charge against the current operations these assets will
<br />need to be replaced at some point in the future when their useful life has expired.
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