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Operating Revenues
<br />User Charges
<br />Other
<br />Total Operating Revenues
<br />Operating ExpenBes
<br />Disposal charge - MWCC
<br />Depreciation
<br />Other
<br />Total Operating Expenses
<br />Operating Income (loss)
<br />Nonoperating Reveaues
<br />Net Income (loss)
<br />1991
<br />$ 2,236,718
<br />109,635
<br />S 2 346,352
<br />1,948,694
<br />122,926
<br />357.285
<br />$ 2 428,905
<br />$ (82,552)
<br />146.578
<br />$ 64,026
<br />1992
<br />$ 2,286,610
<br />141.437
<br />S 2,428,047
<br />2,105,927
<br />114,154
<br />520,585
<br />S 2,740.666
<br />$ (312,619)
<br />( 16.234)
<br />5 (328 853)
<br />The Water Fund accounte for the operation of the water eystem,
<br />with 9,188 customers currently being billed. The City purchaeed
<br />all of the water it usee from the City of St. Paul. The City
<br />reviews its financial position and the rate structure annually.
<br />Excees fund balances are ueed to finance current operatione. The
<br />City increased rates by 4.7� in 1985, 6.4� in 1966, 5� in 1987,
<br />2.7$ in 1990,3� in 1991 and 17.6+k in 1992. In addition, it was
<br />determined in 1992 that aome under registration had taken place
<br />in the wholeeale metering from the City of St. Paul. That under-
<br />registration was negotiated to the amount of $400,000. An agree-
<br />ment wae entered to pay that amount with 7� intereSt over 4
<br />years.
<br />Approximately 70� of the water operating expense, including
<br />depseciation of the dietribution syetem, is for water provided by
<br />the City of St. Paul. Coneequently, the water rates are in a
<br />large part determined by the City of St. Paul charges. Water
<br />ratee are calculated to generate revenues to offset depreciation
<br />on the dietribution syatem eince these aseete were originally
<br />financed by epecial aseessment, and future replacement of these
<br />assets is planned to be financed by aystem users.
<br />Zt is expected the City will continue to both increase rates and
<br />work to reduce coste ae much as poeeible to move the water opera-
<br />tione to at least a break-even point during the next 2-3 years.
<br />Following ie a summar}' of the water operations:
<br />1991
<br />Operating Revenuea
<br />User charges
<br />Other
<br />Total Opesating Revenues
<br />Operating Expeneea
<br />Water purchaeed from
<br />City of St. Paul
<br />Depzeciation
<br />Other
<br />Total Operating Expenses
<br />Operating income (loss)
<br />Nonoperating revenues
<br />Net Income (loes)
<br />$ 2,115,068
<br />13.286
<br />$ 2 128,355
<br />$ 1,828,346
<br />154,497
<br />495.554
<br />C� 2 478, 399
<br />S (350.044)
<br />168.630
<br />S (181,414)
<br />12
<br />1992
<br />$ 2,175,856
<br />24,014
<br />$ 2 199,870
<br />$ 2,008,026
<br />249,223
<br />613.320
<br />� 2 870 569
<br />$ ( 670,699)
<br />98,700
<br />$ ( 571,999�
<br />
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