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CITY OF LINO LAKES, MINNESOTA
<br />COMBINED STATEMENT OF REVENUE, EXPENSES AND
<br />AND CHANGES N RETAINED EARNING - ALL PROPRIETARY FUND TYPES
<br />For The Year Ended December 31, 2002
<br />Operating revenue:
<br />Water sales
<br />Sewer charges
<br />Other operating revenue
<br />Total operating revenue
<br />Statement 4
<br />Enterprise Funds
<br />2002 2001
<br />$ 767,766 $ 860,896
<br />1,112,809 1,011,940
<br />10,212 5,090
<br />1,890,787 1,877,926
<br />Operating expenses:
<br />Personal services 283,517 258,237
<br />Materials and supplies 370,050 257,796
<br />Contractual services 70,926 97,140
<br />MCES sewer charges 436,219 370,968
<br />Depreciation:
<br />Purchased assets 101,059 103,092
<br />Contributed assets 544,902 529,471
<br />Utilities 74,369 78,020
<br />Other 20,736 21,867
<br />Total operating expenses 1,901,778 1,716,591
<br />Net income (loss) from operations
<br />(10,991) 161,335
<br />Other income (expense):
<br />Investment earnings 40,323 40,558
<br />Special assessments (67,775) 23,243
<br />Contributions from private sources 60,111
<br />Bond interest (168,935) (183,750)
<br />Paying agent fees (750) (1,500)
<br />Total other income (expense) (137,026) (121,449)
<br />Net income (loss) before operating transfers (148,017) 39,886
<br />Operating transfers:
<br />Operating transfer from Capital Project Fund 304,075 307,650
<br />Net income (loss) 156,058 347,536
<br />Credit arising from transfer of depreciation
<br />to contributions from property owners 544,902 529,471
<br />Retained earnings - January 1 2,372,347 1,495,340
<br />Retained earnings - December 31 $ 3,073,307 $ 2,372,347
<br />The accompanying notes are an integral part of these financial statements.
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