|
CITY OF MOUNDS VIEW, MINNESOTA
<br /> •
<br /> WATER ENTERPRISE FUND
<br /> PROJECTED STATEMENT OF REVENUE,EXPENSES AND •
<br /> CHANGES IN RETAINED EARNINGS
<br /> For the years ending December 31, 1996,1997, 1998, 1999 and 2000
<br /> Increase(decrease)
<br /> 1996 1997 Amount Percent
<br /> Operating revenue:
<br /> Charges for services:
<br /> User fees $625,870 $663,422 . 537,552 6.00%
<br /> Meter charge 38,880 38,880
<br /> Connection charges 1,200 1,250 50 4.17%
<br /> Penalties and late charges 10,014 10,615 601 . 6.00%
<br /> Other revenue 28,500 29,355 855 3.00%
<br /> Total operating revenue 704,464 743,522 39,058 5.54%
<br /> Operating expenses:
<br /> Personal services 215,843 222,318 6,475 3.00%
<br /> Administrative charges-General Fund 63,207 66,367 3,160 5.00%
<br /> Supplies 45,084 46,437 1,353 3.00%
<br /> Contractual services-repair and maintenance 114,000 117,420 3,420 3.00%
<br /> Depreciation:
<br /> On assets squired with own funds 149,639 155,538 5,899 3.94°6
<br /> On assets squired from contributions 100,786 100,786
<br /> Total operating expense 688,559 708,866 20,307 2.95%
<br /> Net income(loss)from operations 15,905 34,656 18,751
<br /> Other income(expense):
<br /> Interest on investments 64,150 56,492 (7,658) (11.94%)
<br /> Gain(loss)on sale of assets (22,351) 22,351 100.00%
<br /> Interest expense (203,844) (202,599) 1,245 (0.61%)
<br /> Paying agent charges (350) (350)
<br /> Net other income(expense) (162,395) (146,457) 15,938 9.81%
<br /> Net income(loss)before operating transfer (146,490) (111,801) 34,689 23.68%
<br /> Operating transfer out (30,000) (30,000)
<br /> Net income(loss) (176,490) (141,801) 34,689 19.65%
<br /> Credit arising from transfer of depreciation on
<br /> contributed capital 100,786 100,786
<br /> Retained earnings-January 1 2,690,282 2,614,578
<br /> Retained earnings-December 31 $2,614,578 $2,573,563
<br /> i
<br /> For internal use only-not to be relied on by others for any purpose.
<br /> See accountants report and notes to financial statements,which include significant projection assumptions.
<br />
|