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CITY OF LINO LAKES, MINNESOTA
<br />ENTERPRISE FUND
<br />COMBINING STATEMENT OF REVENUE, EXPENSES
<br />AND CHANGES IN RETAINED EARNINGS
<br />For The Year Ended December 31, 1998
<br />With Comparative Totals For The Year Ended December 31, 1997
<br />Statement 16
<br />Gas Totals
<br />Water Sewer Utility 1998 1997
<br />Operating revenue:
<br />Charges for services $ 519,505 $ 668,779 $ - $ 1,188,284 $ 1,016,087
<br />Hook -up charges 26,750 21,400 48,150 38,700
<br />Water meter sales 36,020 36,020 24,632
<br />Other operating revenue 4,031 29,212 33,243 35,504
<br />Total operating revenue 586,306 719,391 1,305,697 1,114,923
<br />Operating expenses:
<br />Personal services 87,736 88,419 176,155 154,387
<br />- Materials and supplies 73,301 4,844 78,145 98,421
<br />Contractual services 17,2 €9 28,981 46,270 79,976
<br />Repair and maintenance 4,979 175,033 180,012 42,731
<br />- MCES sewer charges - 326,619 326,619 285,468
<br />Depreciation:
<br />Purchased assets 43.443 8,61E 52,061 31,768
<br />Contributed assets 126,168 196,639 - 322,807 334,208
<br />Utilities 52,578 24,750 77,328 107,566
<br />Other 1,983 3,369 5,352 3,177
<br />Total operating expenses 407.477 857,272 1,264,749 1,137,702
<br />Net income (loss) from operations 178,829 (137,381' - 40,948 (22,779)
<br />-
<br />Investment earnings 11,416 24,894 36,310 53,824
<br />Special assessments 283 283 566 329,405
<br />Loss on disposal of assets - - (2,375) (2,375)
<br />- Bond intcrest (223,582) - (223,582) (229,375)
<br />Paying agent fees (1,600) - (1,600) (525)
<br />Total other income (expense) (213,483) 25.177 (2,375) (190,681) 153.329
<br />Other income (expense):
<br />Net income (ioss) before operating transfers (34,654) (112,704) (2,375) (149,733) 130,550
<br />Operating transfers:
<br />Operating transfer from General Fund 17,241 17,241
<br />Operating transfer to Capital Projects Fund (90,000) (90,000) - (180,000)
<br />Total operating transfers (90,000) (90,000) 17,241 (162,759)
<br />Net income (loss) (124,654) (202,704) 14,866 (312,492) 130,550
<br />_ Credit arising from transfer of depreciation
<br />to contributed capital 126,168 196,639 322,807 334,208
<br />Retained earnings (deficit)
<br />Beginning balance, as previously stated 837,555 669,899 (14,866) 1,492,588 1,027,830
<br />Prior period adjustment (3,544) (2,331) - (5,875) -
<br />Beginning balance, as restated 834,011 667,568 (14,866) 1,486,713 1.027,830
<br />Residual equity transfer to Sewer Fund (655,283) (655,283)
<br />Retained earnings - December 31 $ 180,242 $ 661,503 $ - $ 841,745 $ 1,492,588
<br />97
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