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CITY OF HUGO, MINNESOTA <br />PROPRIETARY FUND <br />Statement of Revenues, Expenses <br />and Changes in Fund Net Position <br />For the Year Ended December 31, 2016 <br />Operating Revenue <br />387,354 <br />Water charges <br />$ 858,525 <br />Meter sales <br />32,770 <br />Sewer charges <br />1,101,429 <br />Total Operating Revenues <br />1,992,724 <br />Operating Expenses <br />Personal services <br />387,354 <br />Engineering <br />61,673 <br />Electricity <br />99,656 <br />Repairs and maintenance <br />741,376 <br />Sewer charges - MCES <br />514,502 <br />Depreciation <br />606,578 <br />Miscellaneous <br />114,064 <br />Total Operating Expenses <br />2,525,203 <br />Operating (Loss) <br />(532,479) <br />Nonoperating Revenue <br />Future infrastructure charges <br />371,765 <br />Rental income <br />30,874 <br />Intergovernmental revenue <br />445,984 <br />Investment earnings <br />65,119 <br />Net decrease in the fair value of investments <br />(22,568) <br />Miscellaneous <br />103,120 <br />Total Nonoperating Revenue <br />994,294 <br />Net Income Before Transfers and Contributions <br />461,815 <br />Capital contributions - special assessments 37,076 <br />Noncash capital contributions 569,628 <br />Transfers out (109,068) <br />Change in net position 959,451 <br />Net Position, Beginning of Year 35,614,246 <br />Net Position, End of Year $ 36,573,697 <br />See Notes to Financial Statements <br />9.1 <br />