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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, 2005
<br />Statement 8
<br />Operating revenue:
<br />Charges for services
<br />Hook -up charges
<br />Water meter sales
<br />Other operating revenue
<br />Total operating revenue
<br />Water
<br />Totals
<br />Sewer 2005
<br />$ 918,409 $ 1,319,849 $ 2,238,258
<br />53,510 41,910 95,420
<br />57,276 57,276
<br />1,980 1,980
<br />1,031,175 1,361,759 2,392,934
<br />Operating expenses:
<br />Personal services 153,940 155,575 309,515
<br />Materials and supplies 158,992 49,608 208,600
<br />Contractual services 27,316 49,974 77,290
<br />MCES sewer charges - 541,039 541,039
<br />Depreciation 338,451 390,628 729,079
<br />Utilities 48,114 23,241 71,355
<br />Other 16,927 7,760 24,687
<br />Total operating expenses 743,740 1,217,825 1,961,565
<br />Net income (loss) from operations 287,435 143,934 431,369
<br />Other income (expense):
<br />Investment earnings 36,105 84,205 120,310
<br />Special assessments 13,239 1,006 14,245
<br />Bond interest (131,327) - (1.31,327)
<br />Paying agent fees (1,525) (1,525)
<br />Total other income (expense) (83,508) 85,211 1,703
<br />Net income before contributions and transfers 203,927 229,145 433,072
<br />Contributions and transfers:
<br />Contributions from private sources 771,360 948,170 1,719,530
<br />Transfer from capital projects fund 304,195 304,195
<br />Total contributions and transfers 1,075,555 948,170 2,023,725
<br />Net income (loss) 1,279,482 1,177,315 2,456,797
<br />Net Assets - January 1 12,720,946 18,737,427 31,458,373
<br />Net Assets - December 31 $ 14,000,428 $ 19,914,742 S 33,915,170
<br />The accompanying notes are an integral part of these basic financial statements.
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