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STATEMENTS OF REVENUES,EXPENSES AND CHANGES IN NET POSITION
<br /> While the Statements of Net Position shows the change in financial assets and liabilities,the Statements of Revenues,Expenses
<br /> and Changes in Net Position,provides answers as to the nature and source of these changes. As can be seen in Table A-2,the
<br /> increase in"Operating Revenues"was the main source of the increase in net position of$2,582,978 in fiscal 2012. A closer
<br /> examination of the individual categories affecting the source of changes in net position is discussed below:
<br /> TABLE A-2
<br /> Condensed Statements of Revenues,
<br /> Expenses and Changes in Net Position
<br /> Increase
<br /> 2012 2011 (Decrease)
<br /> Revenues
<br /> Operating $ 32,523,832 $ 30,416,803 $ 2,107,029
<br /> Nonoperating 373,401 300,813 72,588
<br /> Total revenues 32,897,233 30,717,616 2,179,617
<br /> Expenses
<br /> Operating 29,509,870 28,421,809 1,088,061
<br /> Nonoperating 341,517 413,039 (71,522)
<br /> Total expenses 29,851,387 28,834,848 1,016,539
<br /> Income before contributions and operating transfers 3,045,846 1,882,768 1,163,078
<br /> Capital Contributions -Developer Infrastructure and Connection Fees 174,607 195,853 (21,246)
<br /> Capital Contributions of Asset from City 218,845 - 218,845
<br /> Transfers from other City funds 1,372 312,823 (311,451)
<br /> Transfers to other City funds (857,692) (736,415) (121,277)
<br /> Change in net position 2,582,978 1,655,029 927,949
<br /> Net position as restated,January 1 49,023,380 47,368,351 1,655,029
<br /> Net position,December 31 $ 51,606,358 $ 49,023,380 $ 2,582,978
<br /> Revenues
<br /> Table A-2 shows that operating revenue increased by 7 percent in 2012 for the Electric and Water Departments combined. This
<br /> increase was a result of increased electric usage in the commercial/industrial sector,up 4%, and increased water usage in all
<br /> sectors,up 20%. The increases are largely a result of the weather due to the hot dry summer.
<br /> Nonoperating revenue is comprised of transmission rebate revenue in the Electric Department,and water tower lease revenue in
<br /> the Water Department. In 2007 the Electric Utility partnered with Midwest Municipal Transmission Group(MMTG) in order to
<br /> have our transmission assets recognized in the Midwest Independent Transmission System Operator(MISO)market. In doing so,
<br /> our transmission assets generate a revenue rebate,which in turn helps keep our rates down. In 2012,rebates received from our
<br /> 2010 filings were approximately$5,000 per month. The Water Department is receiving lease revenue from Sprint for antennas on
<br /> the water towers. In 2012 this amount was approximately$73,000, and will continue for the duration of the multi-year contract.
<br /> Capital Contributions from developers increased this year for a water main project of approximately$218,000 and water
<br /> Connection Fees decreased approximately$20,000.
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