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CITY OF LINO LAKES, MINNESOTA
<br />ENTERPRISE FUNDS
<br />COMBINING STATEMENT OF REVENUE, EXPENSES
<br />AND CHANGES IN RETAINED EARNINGS
<br />For The Year Ended December 31, 1999
<br />With Comparative Totals For The Year Ended December 31, 1998
<br />Statement 16
<br />Totals
<br />Water Sewer 1999 1998
<br />Operating revenue:
<br />Charges for services $ 453,092 $ 679,020 $ 1,132,112 $ 1,188,284
<br />Hook -up charges 33,885 27,150 61,035 48,150
<br />Water meter sales 68,172 68,172 36,020
<br />Other operating revenue 219 7,353 7,572 33,243
<br />Total operating revenue 555,368 713,523 1,268,891 1,305,697
<br />Operating expenses:
<br />Personal services 118,413 120,254 238,667 176,155
<br />Materials and supplies 132,316 5,536 137,852 78,145
<br />Contractual services 69,228 29,329 98,557 46,270
<br />Repair and maintenance - 1,568 1,568 180,012
<br />MCES sewer charges 368,937 368,937 326,619
<br />Depreciation:
<br />Purchased assets 91,399 11,378 102,777 52,061
<br />Contributed assets 165,445 247,128 412,573 322,807
<br />Utilities 51,315 20,052 71,367 77,328
<br />Other 9,656 3,486 13,142 5,352
<br />Total operating expenses 637,772 807,668 1,445,440 1,264,749
<br />Net income (loss) from operations (82,404) (94,145) (176,549) 40,948
<br />Other income (expense):
<br />Investment earnings 8,873 5,795 14,668 36,310
<br />Special assessments 41,877 133 42,010 566
<br />Loss on disposal of assets - - - (2,375)
<br />Bond interest (228,000) - (228,000) (223,582)
<br />Paying agent fees (2,800) (2,800) (1,600)
<br />Total other income (expense) (180,050) 5,928 ( 174, 122) (190,681)
<br />Net income (loss) before operating transfers (262,454) (88,217) (350,671) (149,733)
<br />Operating transfers:
<br />Operating transfer from General Fund 49,366 - 49,366 17,241
<br />Operating transfer to Capital Projects Fund - - - (180,000)
<br />Total operating transfers 49,366 49,366 (162,759)
<br />Net income (loss) (213,088) (88,217) (301,305) (312,492)
<br />Credit arising from transfer of depreciation
<br />to contributed capital 165,445 247,128 412,573 322,807
<br />Retained earnings (deficit)
<br />Beginning balance, as previously stated 180,242 661,503 841,745 1,492,588
<br />Prior period adjustment - (5,875)
<br />Beginning balance, as restated 180,242 661,503 841,745 1,486,713
<br />Residual equity transfer to Sewer Fund (655,283)
<br />Retained earnings - December 31
<br />132,599 $ 820,414 $ 953,013 $ 841,745
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