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Water rates aze calculated to generate revenues to offset depreciation on the disuibution system <br />since these asseu were originally financed by special assessment, and future replacement of these <br />asseu is planned to be financed by system users. <br />It is expected the City wili continue to both increase rates and work to reduce cosu as much as <br />possible to move the water operations to at least a break-even point during the next 2-3 years. <br />Following is a summary of the water operations: <br />1993 <br />Operating Revenues <br />User Chazges <br />Other <br />Total Operating Revenues <br />Operating Expenses <br />Water Purchased From <br />City of St Paul <br />Depreciation <br />Other <br />Total Operating Expenses <br />Operating Income (Loss) <br />Nonoperating Revenues <br />Transfers In (Out) <br />Net Income (Loss) <br />$2,404,107 <br />9.337 <br />$2.413.444 <br />$2,257,085 <br />143,304 <br />547.736 <br />1994 <br />$2,921,014 <br />11.744 <br />$2.932.758 <br />$2,514,974 <br />150,819 <br />545.802 <br />$2.948.125 $3.211.595 <br />$ (534,681) $ (278,837) <br />23,257 <br />(20.0001 <br />531 424 <br />r:. <br />276 Ol l <br />The Golf Fund accounts for the operation of one, par-three, nine-hole golf course. The golf <br />couise was purchased in 1967, and the annual profits from the user charge have been sufficient <br />to cover all operating and capital cosu since the purchase date. <br />Green fees were increased in 1994 to $6.00 per round. <br />The City's goif operation has continued to be sound financially during 1994. Even though green <br />fees have been increased slightly each year, the course remains very competitive with the other <br />meuo facilities. <br />Below is a summary of golf operations: <br />12 <br />