|
Honorable Mayor and Members of the City Council
<br />City of Lino Lakes
<br />Page 23
<br />Table of Sewer Fund Revenues and Expenses (Continued):
<br />Operating revenue:
<br />Charges for services
<br />Other revenue
<br />Total operating revenue
<br />1999 % of Sales 1998 % of Sales
<br />$ 679,020
<br />34,503
<br />713,523
<br />95.2% $ 668,779
<br />4.8% 50,612
<br />100.0% 719,391
<br />93.0%
<br />7.0%
<br />100.0%
<br />Operating expenses:
<br />Personal services 120,254 16.9% 88,419 12.3%
<br />Materials and supplies 5,536 0.8% 4,844 0.7%
<br />Contractual services 29,329 4.1% 28,981 4.0%
<br />Repair and maintenance 1,568 0.2% 175,033 24.3%
<br />MCES sewer charges 368,937 51.7% 326,619 45.4%
<br />Depreciation on Purchased assets 11,378 1.6% 8,618 1.2%
<br />Utilities 20,052 2.8% 24,750 3.4%
<br />Other 3,486 0.5% 3,369 0.5%
<br />Total operating expenses 560,540 78.6% 660,633 91.8%
<br />Net income from operations 152,983
<br />21.4% 58,758
<br />8.2%
<br />Other income:
<br />Investment eamings 5,795 0.8% 24,894 3.5%
<br />Special assessments 133 0.0% 283 0.0%
<br />Total other income 5,928 0.8% 25,177 3.5%
<br />Net income (loss) before operating transfers 158,911 22.3% 83,935 11.7%
<br />Operating transfer to Capital Projects Fund 0.0% (90,000) - 12.5%
<br />Net income (loss) 158,911 22.3% (6,065) -0.8%
<br />Retained earnings (deficit)
<br />Beginning balance, as previously stated 661,503 669,899
<br />Prior period adjustment - (2,331)
<br />Beginning balance, as restated 661,503 667,568
<br />Retained earnings - December 31 $ 820,414 $ 661,503
<br />Depreciation on Contributed assets
<br />excluded above
<br />247,128 196,639
<br />• Operating Revenue increased slightly because of additional users.
<br />• Operating expenses decreased substantially in 1999. This is due in part to repairs done on the
<br />Lakes Addition Sewer Lines in 1998.
<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 need
<br />to be replaced at some point in the future when their useful life has expired.
<br />
|