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CITY OF ORONO, MINNESOTA
<br />MANAGEMENT’S DISCUSSION AND ANALYSIS
<br />YEAR ENDED DECEMBER 31, 2015
<br />
<br />
<br />
<br />(15)
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<br />The following is a summary of the City’s change in Business-type net position:
<br />
<br />2015 2014
<br />Annual
<br />Change
<br />Percent
<br />Change
<br />REVENUES
<br />Program Revenues:
<br />Charges for Services $ 2,546,007 $ 2,156,172 389,835$ 18 %
<br />Capital Grants and Contributions 16,765 178,371 (161,606) (91)
<br />General Revenues:
<br />Unrestricted Interest Income on
<br /> Special Assessments 2,714 10,860 (8,146) (75)
<br />Unrestricted Investment Earnings 64,362 113,238 (48,876) (43)
<br />Miscellaneous 141,546 163,719 (22,173) (14)
<br />Total Revenues 2,771,394 2,622,360 149,034 6
<br />EXPENSES
<br />Water Operating 545,592 556,766 (11,174) (2)
<br />Sewer Operating 1,332,617 1,184,629 147,988 12
<br />Storm Water 163,747 186,719 (22,972) (12)
<br />Recycling 116,642 114,983 1,659 1
<br />Cable Television 31,802 12,675 19,127 151
<br />Interest on Long-Term Debt 36,166 - 36,166 -
<br />Total Expenses 2,226,566 2,055,772 170,794 8
<br />CHANGE IN NET POSITION
<br /> BEFORE TRANSFERS 544,828 566,588 (21,760) (4)
<br />Transfers (320,209) (269,300)(50,909) 19
<br />CHANGE IN NET POSITION 224,619 297,288 (72,669) (24)
<br />
<br />Net Position - Beginning of Year 21,989,066 21,691,778 297,288 1
<br />Prior Period Restatement, See Note 11 (295,982) - (295,982) -
<br />Net Position - Beginning of Year, as Restated 21,693,084 21,691,778 1,306
<br />NET POSITION - END OF YEAR 21,917,703$ 21,989,066$ (71,363)$ (0)%
<br />Business-Type Activities
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<br />The business-type activities, primarily the City’s utility operations, showed a modest growth in net
<br />position. This is reflective of ongoing growth in the utilities system.
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