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<br />CITY OF ORONO, MINNESOTA
<br />Exhibit A-4
<br />Statement of Revenue, Expenses, and Changes in Retained Earnings
<br />Proprietary Fund Type
<br />Years Ended December 31, 1996 and 1995
<br />End of year
<br />See notes to financial statements
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<br />$2,413,1.24 $2,136,30!
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<br />Sales and cost of sales
<br />1996 1995
<br />Sales S 19,163 $ 17,728 (mm,
<br />Cost of sales 11,313 10,467
<br />Gross pront 7,848 7.261'
<br />Operating revenue
<br />Metered water sales 249,504 220,848
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<br />User charges 619,169 578,149
<br />Green fees 152,947 136,809
<br />Equipment rental 31,523 29.084
<br />Other 4,135 4,811
<br />Total operating revenue 1,057,278 969,701
<br />Total gross profit and operating revenue 1,065,126 976,962 -
<br />Operating expenses
<br />Personal serv ices 276,301 261,356
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<br />Purchased water 13,092 10,878 m
<br />Sewer disposal charges 318,940 329.536
<br />Professional services 22,375 76,262
<br />Operating and maintenance supplies 38,889 25,780
<br />Heat, light, and power 47,992 43.496
<br />Depreciation 257,488 222,246
<br />Rent and equipment 6,977 3,456 m
<br />Maintenance and repairs 85,981 49,270
<br />Administrative and other expense 84,824 93,293
<br />Other expenses 7,028 37,087
<br />Total operating expenses 1,159,887 1.1 56.6M n
<br />Operating loss (94,761)(179.698)m
<br />Nonoperating revenue (expense)
<br />Property tax revenue 93,566 83.794
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<br />Interest income 163,007 128,797 t 1
<br />Amortization of deferred credits 9,531 9,530
<br />Interest expense (82,482)(115,962)
<br />Revenue bond expense (1.100)(405)
<br />Loss on disposal of assets (3,512)(9.164)^4
<br />Total nonoperating revenue (expense)179,010 96.590
<br />Net income (loss) before other financing sources (uses)84,249 (83,108)
<br />Other financing sources (uses)
<br />Operating transfers in 70,000
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<br />Operating transfers (out)(70,000)—
<br />Total other financing sources (uses)-—
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<br />Net income (loss)84^49 (83.108)
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<br />Credit for depreciation on contributed assets 192,574 157,647 » 1
<br />Net increase in retained earnings 276,823 74,539
<br />Retained earnings
<br />Beginning of year 2,136,301 2.061,762
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