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<br /> CITY OF CENTERVILLE, MINNESOTA
<br /> STATEMENTS OF REVENUES, EXPENSES AND
<br /> CHANGES IN FUND NET ASSETS
<br /> PROPRIETARY FUNDS
<br /> YEARS ENDED DECEMBER 31,2007 AND 2006
<br /> Business-type Activities - Enterprise Funds
<br /> Water Sewer
<br /> 2007 2006 2007 2006
<br />OPERATING REVENUES
<br />Charges for services $ 260,190 $ 273,996 $ 290,581 $ 303,294
<br />OPERATING EXPENSES
<br />Salaries and benefits 74,913 61,651 75,854 63,792
<br />Supplies 21,097 18,495 1,198 4,616
<br />Other services and charges 39,047 115,599 21,209 50,044
<br />Utilities 5,993 1,915 2,550 1,260
<br />MCES - disposal charges 148,132 144,137
<br />Depreciation 167,805 151,858 108,438 99,521
<br />TOTAL OPERATING EXPENSES 308,855 349,518 357,381 363,370
<br />OPERATING INCOME (LOSS) (48,665) (75,522) (66,800) (60,076)
<br />NONOPERATING REVENUES (EXPENSES)
<br />Interest on investments 31,183 14,865 116,163 76,425
<br />Special assessments 11 ,260 47,907 5,521 18,134
<br />Hook up fees and unit charges 50,115 27,568 54,669 39,494
<br />Miscellaneous revenue 3,000
<br />Loss on sale of capital assets (2,160) (2,160)
<br />Interest expense (45) (55)
<br />TOTAL NONOPERATING
<br />REVENUES 90,398 93,295 174,193 133,998
<br />INCOME BEFORE
<br />CONTRIBUTIONS AND TRANSFERS 41,733 17,773 107,393 73,922
<br />CAPITAL CONTRIBUTIONS FROM OTHER FUNDS 390,413 152,071
<br />CAPITAL CONTRIBUTIONS BY DEVELOPERS 95,575 88,745
<br />CHANGE IN NET ASSETS 41,733 503,761 107,393 314,738
<br />NET ASSETS, JANUARY 1 4,970,553 4,466,792 4,849,593 4,534,855
<br />NET ASSETS, DECEMBER 31 $ 5,012,286 $ 4,970,553 $ 4,956,986 $ 4,849,593
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<br />The notes to the financial statements are an integral part of this statement.
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