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<br />The table below shows a summary of the Water Operating Fund financial results for the past six years.
<br />Metered water sales increased 13% over 1995 amounts, due mainly to a rate increase implemented during
<br />1996. For the firsi time in six years, the City had net income before operating transfers in.
<br />During 1996, the Water Operating Fund received a $70,000 operating transfer from the Sewer Operating
<br />Fund. This transfer was recorded as an other financing source and it is intended to help finance the revenue
<br />bond debt of 1995.
<br />*-4 Water 1991 1992 1993 1994 1995 19%
<br />r
<br />Metered water sales $153,199 $169,470 $151,798 $199,208 S 220,848 $249.504
<br />Total operating revenue $157,152 $171,376 $155,126 S 202.446 $223,638 $251,538
<br />Total operating expenses (200,912)(219,277) (198,527)(231,518)(243,378)(250,184)
<br />‘I Operating income (loss)(43,760)(47.901)(43,401)(29.072)(19,740)1,354
<br />Nonoperating revenue 77.691 50,315 10,252 40,975 47,894 118.438
<br />Nonoperating expenses (77.013)(74,808)(70.143)(64.691) (58,871)(42.278)
<br />Operating transfers in --142,088 -—70,000
<br />Net income (loss)$(43,082)S (72,394)$38,796 $(52,788)$(30.717)$147,514
<br />I ;
<br />Depreciation on
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<br />1 contributed assets charged
<br />r k"*to operations s 33,329 $33,329 $33,329 S 34,872 $32,886 $32,886
<br />Net income (loss)
<br />as a percentage of
<br />operating revenue (27.4)%(42.2)%25.0%(26.1)%(I3.7)%58.6%
<br />Statewide average 6.7%7.7%5.4%10.8%N/A N/A
<br />♦ Per report of the Slate Auditor on Revenues, Expenditures, and Debt of Minnesota Cities over 2,500
<br />in population.
<br />We have also indicated the amount of depreciation expense on contributed assets which is included in operating
<br />expenses. These are assets that were paid for by other funds which typically were fmanced by special
<br />assessments or taxes. In sotw cases, it is not the intent of the City to entirely recover this depreciation through
<br />user charges.
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