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CITY OF LINO LAKES, MINNESOTA
<br />COMBINED STATEMENT OF REVENUE, EXPENSES AND
<br />CHANGES IN RETAINED EARNINGS - ALL PROPRIETARY FUND TYPES
<br />For The Year Ended December 31, 1997
<br />Statement 4
<br />Enterprise Funds
<br />1997 1996
<br />Operating revenue:
<br />Water sales $452,438 $401,889
<br />Sewer charges 602,349 527,507
<br />Other operating revenue 60,136 52,065
<br />Total operating revenue 1,114,923 981,461
<br />Operating expenses:
<br />Personal services 154,387 145,181
<br />Materials and supplies 98,421 42,286
<br />Contractual services 79,976 74,332
<br />Repair and maintenance 42,731 8,576
<br />MCES sewer charges 297,202 260,421
<br />Depreciation:
<br />Purchased assets 31,768 29,550
<br />Contributed assets 334,208 299,864
<br />Utilities 95,832 83,672
<br />Other 3,177 3,851
<br />Total operating expenses 1,137,702 947,733
<br />Net income (loss) from operations (22,779 33,728
<br />Other income (expense):
<br />Interest on investments - 53,824 46,793
<br />Special assessments 329,405 -
<br />Bond interest (229,375) (144,228)
<br />Paying agent fees (525) (26,653)
<br />Total other income (expense) 153,329 (124,088)
<br />Net income (loss) 130,550 (90,360)
<br />Credit arising from transfer of depreciation
<br />to contributions from property owners 334,208 299,864
<br />Retained earnings - January 1 1,027,830 818,326
<br />Retained earnings - December 31 $1,492,588 $1,027,830
<br />28 The accompanying notes are an integral part of these financial statements.
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