07-08-1996 Council Packet - Laserfiche WebLink

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I To the City Council and Citizens of the City of Orono May 29. 1996 I Water Operating FL’ND The Water Operating Fund accounts for the provision of water services to the residents of the City who have water 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 1995 and 1994 is as follows; December 31 Operating revenue Operating expenses Operating loss 1995 1994 $223,638 $202,446 243,378 231,518 $(19,740)$(29,072) The operating loss for 1995 docs not include nonoperating re^'enue of $47,894 or nonoperating expenses of $58,871. The operating loss for 1994 also does not include nonoperating revenue of $40,975 or nonoperating expenses of $64,691. Retained earnings as of December 31 , 1995 were $156,238, which represents an increase of $2,169 from 1994, net of the effects of depreciation on contributed assets, and nonoperating items. During 1995, the 1980 Improvement Boird Debt Servir- Fund transferred $26,326 of residual equity to the Water Operating Fund to assist in financ. ,-, revenue bond debt. Sev ? ^ Fl^sT) The Sev . >perating Fund accounts for the provision of sewer services to the residents of the Citv who ha' sanitary’ sewer service available. All activities necessary to provide such services accounted for in this fund, including administration, operations, maintenance, billing, and collection. The summary of operations for 1995 and 1994 is as follows: December 31 1995 1994 Operating revenue $ 579,390 $ 551,963 Operating expenses 771,112 647,610 Operating loss S (191,722)$ (95.647) The operating expenses in 1995 increased $123,502 from the previous year. This increase was due primarily to increases in sewer treatment charges from the Metropolitan Council Wastewater Services (M.C.W.S.) of $46,944; engineering services related to the reduction of ground water infiltration and inflow to the sewer sys: ,n of $15,033; engineering services related to sewer line and lift station rehabilitation projects of $14,247; refunding bond costs of $10,724; and payments of $28,000 to the M.C.W.S. for reconveyance of certain sewer lines to the City from the M.C.W.S. -11-