07-10-1995 Council Packet - Laserfiche WebLink

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I I I f I I I I I I I I I I I I I I I To the City Council and Citizens of the City of Orono May 17, 1995 Water Operatinc ; Fund 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 service.^ are accounted for in this fund, including administration, operations, maintenance, billing, and collection. The summary of r^rations for 1994 and 1993 is as folh>ws: December 31 1994 1993 Operating revenue Operating expenses $ 202,446 $ 155.126 231.518 198,527 Operating loss $ (29.072) $ (43.401) The operating loss for 1994 docs not include nonoperating revenue of $40,975 or nonoperating expenses of $64,691. The operating loss for 1993 also does not include nonoperating revenue of $10,252 or nonoperating expen.ses of $70,143. Retained earnings as of December 31. 1994 were $158,5%, which represents a decrease of $17,915 from 1993, net of the effects of depreciation on contributed as.sets. nonoperating items, and transfers in. During 1994, the 1980 Improvement Bond Debt Service Fund transferred $71,483 of residual equity to the Water Operating Fund to assist in financing the revenue bond debt. Sewer Operattnc , Fi^t> The Sewer Operating 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, operatitms. maintenance, billing, and collection. The summary' of operations for 1994 and 1993 is as follows: December 31 Operating revenue Operating expenses Operating loss 1994 1993 $556.360 $441.2.55 647,610 6.55.835 $(91.2.50)$(214.580) The operating loss for 1994 does not include nonoperating revenue of $151,670 or nonoperating expenses of $63,160 The operating loss for 1993 also does not include nonoperating revenue of $116,744 or nonoperating expen.ses of $68,531. Retained earnings as of December 31. 1994 were $1,684,078. which represents an increase of $119.015 from 1993. net of the effects of depreciation on contributed as.sets. nonoperating items, and transfers in. -13-