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CITY OF LINO LAKES, MINNESOTA Statement 8
<br />STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION - PROPRIETARY FUNDS
<br />Year Ended December 31, 2013
<br />Water
<br />Total
<br />Sewer 2013
<br />Operating revenue:
<br />Charges for services $ 1,176,917 $ 1,508,997 $ 2,685,914
<br />Hook-up charges 8,750 7,400 16,150
<br />Water meter sales 12,332 12,332
<br />Other operating revenue 10,743 10,743
<br />Total operating revenue 1,208,742 1,516,397 2,725,139
<br />Operating expenses:
<br />Personal services 187,942 192,292 380,234
<br />Materials and supplies 148,516 65,547 214,063
<br />Contractual services 58,886 80,653 139,539
<br />MCES sewer charges - 747,199 747,199
<br />Depreciation 416,468 437,725 854,193
<br />Utilities 96,850 45,123 141,973
<br />Other 19,138 15,856 34,994
<br />Total operating expenses 927,800 1,584,395 2,512,195
<br />Net income (loss) from operations 280,942
<br />(67,998) 212,944
<br />Other income (expense):
<br />Investment earnings 43,075 70,327 113,402
<br />Net increase (decrease) in fair value of investments (60,082) (98,093) (158,175)
<br />Special assessments 442 441 883
<br />Total other expense (16,565) (27,325) (43,890)
<br />Net income before contributions and transfers 264,377 (95,323) 169,054
<br />Capital contributions and transfers:
<br />Capital contributions from primary government
<br />Transfer out
<br />Total contributions and transfers
<br />291,403
<br />(35,862)
<br />255,541
<br />133,625 425,028
<br />(35,862) (71,724)
<br />97,763 353,304
<br />Change in net position 519,918 2,440 522,358
<br />Net position - January 1 18,313,145 22,586,963 40,900,108
<br />Net position - December 31 $ 18,833,063 $ 22,589,403 $ 41,422,466
<br />The accompanying notes are an integral part of these basic financial statements.
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