1974 CAFR - Laserfiche WebLink

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r r MUNICIPAL LIQUOR FUND (CONTINUED) I Transfers to other funds Equivalent mill rate of. transfers PUBLIC UTILITY FUNDS 1974 1973 1972 Percent Percent Percent of sales of sales of sales 1_2L5,000.66 S 289 817 86.35 $, 300,0`0 119.1_ 29.70 Water Operating Fund - This fund accounts for the operations of the City-ovmed water system. The fund had net income of $64,116 in 1974. Revenues of the fuel are pledged for payment of the Water Revenue Bonds of 1961 and 1963. Sewer Operating Fund - This fund accounts for the operations of the City -owned sewer system. The fund reported a net income of $30,828 for 1974. During 1971, the Metropolitan Waste Control Commission purchased the City's equity in the Minneapolis sewer system. Payment is being made over. a. 30 -year period by means of annual credits against future sewer billings from the Board. The amount payable by the Board in future years is shown as a receivable on the balance sheet in the amount of $134,115. A condensed summary of operations for the Water and Sewer Operating Funds for the last three years is presented below: 1974 1973 Water Operating _F: Iyil Operating revenue $157,348 Operating expense (less depreciation) 68,434 Other income and (expense) 11,715 Income before depreciation $100,629 Depreciation 36,513 Net income i. 64. 7.16 Sewer Or:Lind Operating revenue Operating expense Other income and $151,157 64,145 289 $ 87,301 36.096 S .575205 $108,701 $707,065 (less depreciation), 102,109 90,969 (expense) 27,322 1,987 ncc:ebefore depreciation Dapreci ation. Net income $ 33,914 3,036 $ 18,083 2,231 15 852 1972 $144,573 1-1,922 __�_3�095) $ 69,556 32,583 $_ 36 97. $104,992 85,310 2,385) 1.7,297 3 ,1- 24_ 7_.r0 Operating expenses for 1974 incl.iida disl;osal charges of $80,083 as compared $70,566 and $63,831 in 1973 and 1972 respectively. III