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CITY OF LINO LAKES, MINNESOTA
<br />COMBINED STAIEMENT OF REVENUE, EXPENSES AND
<br />AND CHANGES IN RETAINED EARNING - ALL PROPRIETARY FUND TYPES
<br />For The Year Ended December 31, 2001
<br />Statement 4
<br />Enterprise Funds
<br />2001 2000
<br />Operating revenue:
<br />Water sales $ 860,896 $ 717,617
<br />Sewer charges 1,011,940 875,850
<br />Other operating revenue 5,090 1,205
<br />Total operating revenue 1,877,926 1,594,672
<br />Operating expenses:
<br />Personal services 258,237 262,284
<br />Materials and supplies 257,796 257,187
<br />Contractual services 97,140 124,547
<br />MCES sewer charges 370,968 396,800
<br />Depreciation:
<br />Purchased assets 103,092 104,578
<br />Contributed assets 529,471 504,805
<br />Utilities 78,020 86,257
<br />Other 21,867 9,837
<br />Total operating expenses 1,716,591 1,746,295
<br />Net income (loss) from operations
<br />161,335 (151,623)
<br />Other income (expense):
<br />Investment earnings 40,558 70,738
<br />Special assessments 23,243 35,510
<br />Bond interest (183,750) (234,812)
<br />Paying agent fees (1,500) (2,800)
<br />Total other income (expense) (121,449) (131,364)
<br />Net income (loss) before operating transfers 39,886 (282,987)
<br />Operating transfers:
<br />Operating transfer from Capital Project Fund 307,650 320,509
<br />Net income (loss) 347,536 37,522
<br />Credit arising from transfer of depreciation
<br />to contributions from property owners 529,471 504,805
<br />Retained earnings - January 1 1,495,340 953,013
<br />Retained earnings - December 31 $ 2,372,347 $ 1,495,340
<br />The accompanying notes are an integral part of these financial statements.
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