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CITY OF LINO LAKES, MINNESOTA
<br />STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET ASSETS - PROPRIETARY FUNDS
<br />Year Ended December 31, 2011
<br />Statement 8
<br />Total
<br />Water Sewer 2011
<br />Operating revenue:
<br />Charges for services $ 1,054,977 $ 1,486,616 $ 2,541,593
<br />Hook -up charges 9,260 7,220 16,480
<br />Water meter sales 10,561 - 10,561
<br />Other operating revenue 15,306 352 15,658
<br />Total operating revenue 1,090,104 1,494,188 2,584,292
<br />Operating expenses:
<br />Personal services 175,906 177,758 353,664
<br />Materials and supplies 154,450 73,029 227,479
<br />Contractual services 92,345 163,233 255,578
<br />MCES sewer charges - 720,986 720,986
<br />Depreciation 421,616 446,577 868,193
<br />Utilities 80,906 42,251 123,157
<br />Other 19,903 14,229 34,132
<br />Total operating expenses 945,126 1,638,063 2,583,189
<br />Net income from operations 144,978 (143,875) 1,103
<br />Other income (expense):
<br />Investment earnings 43,983
<br />Special assessments 731
<br />Bond interest (15,864)
<br />Paying agent fees (5,653)
<br />Total other income (expense) 23,197
<br />82,232
<br />731
<br />82,963
<br />126,215
<br />1,462
<br />(15,864)
<br />(5,653)
<br />106,160
<br />Net income before contributions and transfers 168,175 (60,912) 107,263
<br />Transfers:
<br />Transfer out (33,061) (33,061) (66,122)
<br />Change in Net Assets 135,114 (93,973) 41,141
<br />Net Assets - January 1 17,722,683 22,654,404 40,377,087
<br />Net Assets - December 31 $ 17,857,797 $ 22,560,431 $ 40,418,228
<br />The accompanying notes are an integral part of these basic financial statements.
<br />31
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