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CITY OF LINO LAKES, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 2002
<br />Note 7 METROPOLITAN COUNCIL ENVIRONMENTAL SERVICES
<br />'— During 1971, the Metropolitan Waste Control Commission (MWCC) was organized to provide for consolidation
<br />of the sanitary sewer collection, treatment and disposal in the seven county metropolitan area surrounding
<br />Minneapolis and St. Paul. Previously, these operations were maintained by the city governments on an
<br />individual or collective basis. The MWCC merged with the Metropolitan Council during 1994 to form
<br />Metropolitan Council Wastewater Services (MCWS) and is now called the Metropolitan Council Environmental
<br />Services (MCES). The MCES bills the City annually based upon estimated volume and budgeted costs. The
<br />City follows the accounting policy of recognizing these charges as an expense of the sewer utility operation in
<br />the year for which they are billed.
<br />NNW
<br />Note 8 RECONCILIATION OF CONTRIBUTED CAPITAL
<br />Changes to contributed capital during the year are as follows:
<br />Water
<br />Sewer
<br />Total
<br />Depreciation
<br />Beginning Capital on Contributed
<br />Balance Contributions Assets
<br />$ 9,337,506 $ $ (216,485)
<br />14,142,819 - (328,417)
<br />$ 23,480,325 $ $ (544,902)
<br />Note 9 SEGMENT INFORMATION
<br />Ending
<br />Balance
<br />$ 9,121,021
<br />13,814,402
<br />$ 22,935,423
<br />The City actively maintains two Enterprise Funds, which provide water and sanitary sewer services. Segment
<br />information for the year ended December 31, 2002 is as follows:
<br />Operating revenue
<br />Depreciation expense
<br />Operating income (loss)
<br />Property, plant, and
<br />equipment additions
<br />Capital Contributions
<br />Net income (loss)
<br />Operating transfers in
<br />Net property, plant
<br />and equipment
<br />Net working capital
<br />Total assets
<br />Bonds payable
<br />Total equity
<br />Water
<br />Utility
<br />$ 777,978
<br />300,863
<br />(133,636)
<br />Sewer
<br />Utility
<br />$ 1,112,809
<br />345,098
<br />122,645
<br />93,217 39,174
<br />(35,939) 191,997
<br />304,075
<br />12,555,032
<br />367,211
<br />13,481,609
<br />3,220,000
<br />10,128,680
<br />13,925,723
<br />1,969,027
<br />15,913,138
<br />15,880,050
<br />Totals
<br />2002
<br />$ 1,890,787
<br />645,961
<br />(10,991)
<br />132,391
<br />156,058
<br />304,075
<br />26,480,755
<br />2,336,238
<br />29,394,747
<br />3,220,000
<br />26,008,730
<br />2001
<br />$ 1,877,926
<br />632,563
<br />161,335
<br />4,148
<br />882,235
<br />347,536
<br />307,650
<br />26,994,325
<br />1,820,059
<br />29,474,388
<br />3,465,000
<br />25,852,672
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