06-09-1997 Council Packet - Laserfiche WebLink

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ii » I ■' z r M .1 To the City Council and Citizens of the City of Orono April 29. 1997 income for 1996 does not include nonoperating revenues and transfers in of SI 88.438 or nonoperating expenses of $42,278. The operating loss for 1995 also does not include nonoperating revenue of $47,894 or nonoperating expenses of $58.871. Retained earnings as of December 31. 1996 were $336,638, which represents an increase of $180,400 from 1995. net of the effects of depreciation on contributed assets and nonoperating items. During 1996 the Sewer grating Fund transferred $70,000 to the Water Operating Fund to assist in financing the Water Operatmg Fund’s share of revenue bond debt. Sewer OPERATiNn Finsm The Sewer 0|»rating Fund accounts for the provision of sewer services to the residents of the City who have sanitary sewer service available. All activities necessary to provide such services are accounted for in this fund, including administration, operations, maintenance, billing, and collection. ® The summary of operations for 1996 and 1995 is as follows: December 31 1996 1995 m Isif Operating revenue $ 621.235 $ 579,390 Operating expenses 765.045 771,112 Operating loss $ (143.810)$ (191.722) I: n i.. The operating expenses in 1996 decreased primarily from efforts to reduce groundwater inflow and infiltration into the sanitary sewer system. This resulted in lower measured flows and subsequent treatment costs with the Metropolitan Council Environmental Services (MCES). The operating loss for 1996 does not include nonoperating revenues of $135,093 or nonoperating expenses and transfers out of $111,564. The operating loss for 1995 also does not include nonoperating revenue of $167,138 or nonoperating expenses of $67,721. Retained earnings as of December 31, 1996 were $1,749,833, which represents an increase of $38,614 from 1995, net of the effects of depreciation on contributed assets and nonoperating items. During i996 the Sewer Operating Fund transferred $70,000 to the Water Operating Fund to assist in financing the Water Operating Fund’s share of revenue bond debt. Golf C oluse Operatinh Fin>m The Golf Course Operating Fund accounts for the operation of the City-owned and operated golf course facility. All activities necessary for operations are accounted for in this fund, including administration, operations, and maintenance. I ^ -11-