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CITY OF LINO LAKES, MINNESOTA
<br />NOTES TO FINANCIAL STATEMENTS
<br />December 31, 2001
<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 />Note 8 RECONCILIATION OF CONTRIBUTED CAPITAL
<br />Changes to contributed capital during the year are as follows:
<br />Water
<br />Sewer
<br />Total
<br />Beginning
<br />Balance
<br />$ 9,137,401
<br />13,980,160
<br />$ 23,117,561
<br />Note 9 SEGMENT INFORMATION
<br />Capital
<br />Contributions
<br />$ 409,605
<br />472,630
<br />$ 882,235
<br />Depreciation
<br />on Contributed
<br />Assets
<br />$ (209,500)
<br />(319,971)
<br />$ (529,471)
<br />Ending
<br />Balance
<br />$ 9,337,506
<br />14,132,819
<br />$ 23,470,325
<br />The City actively maintains two Enterprise Funds which provide water and sanitary sewer services. Segment
<br />information for the year ended December 31, 2001 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 Sewer
<br />Utility Utility
<br />$ 865,943 $ 1,011,983
<br />295,706 336,857
<br />61,588 99,747
<br />2,074 2,074
<br />409,605 472,630
<br />211,625 135,911
<br />307,650
<br />12,762,678 14,231,647
<br />349,148 1,470,911
<br />13,763,896 15,710,492
<br />3,465,000 -
<br />10,164,619 15,688,053
<br />Totals
<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
<br />2000
<br />$ 1,594,672
<br />609,383
<br />(151,623)
<br />1,233,267
<br />37,522
<br />320,509
<br />26,730,505
<br />1,078,244
<br />29,185,135
<br />4,340,000
<br />24,612,901
<br />
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