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-83-
<br />Exhibit F-5
<br />CITY OF ORONO, MINNESOTA
<br />Water Operating Fund
<br />Comparative Statement of Revenue, Expenses, and Changes in Retained Earnings t '
<br />Years Ended December 31,1996 and 1995
<br />1996 _ 1995 _i 1
<br />Operating revenue
<br />Metered water sales $ 249,504 $ 220,848 ••
<br />Other 2,034 2,790
<br />^ i
<br />Total operating revenue ■ 251,538 223,638
<br />*
<br />Operating expenses
<br />mm
<br />Salaries and wages 75,136 59,035
<br />Retirement contributions 8,765 6,759
<br />Health and life insurance contributions 1,362 2,847
<br />Purchased water 13,092 10,878
<br />Professional services 3,601 31,512
<br />Operating and maintenance supplies 19,250 11,709
<br />Heat, light, and power 26,759 21,454
<br />Depreciation 64,342 64,764 * .
<br />Maintenance and repairs 19,173 6,686
<br />Administrative charges from General Fund 5,825 5,830
<br />Communications 1,903 2,612
<br />Office supplies 98 —
<br />Printing, publishing, and advertising 551 117
<br />Data processing 174 3,726
<br />Insurance 9,027 9,154
<br />Other expenses 1,126 6,295 r"
<br />Total operating expenses 250,184 243,378 •
<br />Operating income (loss)1,354 (19,740)
<br />Nonoperating revenue (expense)
<br />Property tax revenue 90,175 40,586
<br />Interest earned on investments r-*
<br />Operations 8,014 5,069 i
<br />Interest on special assessments 20,249 1,178 Wm*
<br />Interest expense on revenue bonds (41,727) (58,666)
<br />Revenue bond expense (551)(205)1
<br />Gain on disposal of assets —1,061
<br />Total nonoperating revenue (expense)76,160 (10,972)
<br />r'
<br />Income (loss) before operating transfers 77,514 (30,717)•
<br />Operating transfers in 70,000 —
<br />Net income (loss)147,514 (30,717)—
<br />Credit for depreciation on contributed equity 32,886 32,886 '
<br />Net increase in retained earnings 180,400 2,169
<br />Retained earnings
<br />•• *
<br />Beginning of year 156,238 154,069
<br />rnm0
<br />End of year ■$J3_6.638 $ 156,23|^
<br />ii
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