|
Hnterprise Fmids (Continued)
<br />The City reviews the rate structure a�uivally. Rates were increased by 7.5% in
<br />1951 �vitll no change in rates for 1980 and a 9.7% increase for 1979.
<br />Approximately 720 of the iaater operating expense, excluding depreciation of the
<br />distribution system, is for water provided by the City of St. Paul. Consequently,
<br />the water rates are in a large part determined by the City of St. Paui charges.
<br />The City has increased rates for all types of users in 1982 due to the increase
<br />in cliarges from the City of St. Paul. Water rates are not calculated to gcnerate
<br />revenues to offset depreciation on the distribution system since these assets were
<br />originally financed by special assessment, and future replacement of these assets
<br />is planned to be financed by special assessments. Below is a sunm�ary of the water
<br />operations:
<br />1981 1980 1979
<br />Operating revenue
<br />User charges $1,184,357 $1,181,197 �1,005,572
<br />Other 2,086 4,216 9,363
<br />Total operating revenue $1,186,443 $1,185;413 $1,014,935
<br />Operating expense
<br />1Vater-City of St. Paul
<br />Depreciation
<br />Plant and equipment
<br />Distribution system
<br />Other
<br />Total operating expense
<br />Operating income (loss)
<br />Nonoperating revenue
<br />$ 912,735
<br />56,433
<br />84,760
<br />297,575
<br />$1,351,503
<br />� (165,060)
<br />148,036
<br />$ 867,632
<br />55,000
<br />33,969
<br />237,411
<br />$1,294,012
<br />$ (108,599)
<br />109,063
<br />Income (loss) before operating
<br />transfers � (17,024) �
<br />Operating transfers to ot}ier
<br />City funds (25,000)
<br />Net Income (loss)
<br />464
<br />(95,000)
<br />$ 686,926
<br />55,609
<br />82,633
<br />251,465
<br />$1,076,633
<br />$ (61,695)
<br />93,557
<br />$ 36,859
<br />(165,000)
<br />$ (42,024) $ (94,536) $ (128,141)
<br />The Golf Fund accounts for the operati.on of one par three, nine-hole golf
<br />course. This golf course was purchased in 1967 and the annual profits from
<br />user charges have been sufficient to cover all operating costs and the bond
<br />principal and interest payments since the purcliase date. Green fees were
<br />increased in 1981 to $3.25 from ,^53.00 in 1980 and $2.75 in 1979.
<br />-10-
<br />
|