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CITY OF LINO LAKES, MINNESOTA
<br />COMBINED STATEMENT OF REVENUE, EXPENSES AND
<br />AND CHANGES IN RETAINED EARNING - ALL PROPRIETARY FUND TYPES
<br />For The Year Ended December 31, 1999
<br />Statement 4
<br />Enterprise Funds
<br />1999 1998
<br />Operating revenue:
<br />Water sales $ 453,092 $ 519,505
<br />Sewer charges 679,020 668,779
<br />Other operating revenue 136,779 117,413
<br />Total operating revenue 1,268,891 1,305,697
<br />Operating expenses:
<br />Personal services 238,667 176,155
<br />Materials and supplies 137,852 78,145
<br />Contractual services 98,557 46,270
<br />Repair and maintenance 1,568 180,012
<br />MCES sewer charges 368,937 326,619
<br />Depreciation:
<br />Purchased assets 102,777 52,061
<br />Contributed assets 412,573 322,807
<br />Utilities 71,367 77,328
<br />Other 13,142 5,352
<br />Total operating expenses 1,445,440 1,264,749
<br />Net income (loss) from operations (176,549) 40,948
<br />Other income (expense):
<br />Investment earnings 14,668 36,310
<br />Special assessments 42,010 566
<br />Loss on disposal of assets (2,375)
<br />Bond interest (228,000) (223,582)
<br />Paying agent fees (2,800) (1,600)
<br />Total other income (expense) (174,122) (190,681)
<br />Net income (loss) before operating transfers (350,671) (149,733)
<br />Operating transfers:
<br />Operating transfer from General Fund 49,366 17,241
<br />Operating transfer to Capital Project Fund - (180,000)
<br />Total operating transfers 49,366 (162,759)
<br />Net income (loss) (301,305) (312,492)
<br />Credit arising from transfer of depreciation
<br />to contributions from property owners 412,573 322,807
<br />Retained earnings
<br />Beginning balance, as previously stated 841,745 1,492,588
<br />Prior period adjustment - (5,875)
<br />Beginning balance as restated 841,745 1,486,713
<br />Residual equity transfer to Sewer Fund (655,283)
<br />Retained earnings - December 31 $ 953,013 $ 841,745
<br />The accompanying notes are an integral part of these financial statements.
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