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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 and
<br /> Changes in Net Position,provides answers as to the nature and source of these changes. As can be seen in Table A-2,revenues in
<br /> excess of expenses was the main source of the increase in net position of$2,409,730 in fiscal 2013. A closer examination of the
<br /> 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 /> 2013 2012 (Decrease)
<br /> Revenues
<br /> Operating $ 33,124,503 $ 32,523,832 $ 600,671
<br /> Nonoperating 388,535 373,401 15,134
<br /> Total revenues 33,513,038 32,897,233 615,805
<br /> Expenses
<br /> Operating 30,371,131 29,509,870 861,261
<br /> Nonoperating 382,736 341,517 41,219
<br /> Total expenses 30,753,867 29,851,387 902,480
<br /> Income before contributions and operating transfers 2,759,171 3,045,846 (286,675)
<br /> Capital contributions-developer infrastructure and connection fees 295,549 174,607 120,942
<br /> Capital contributions of asset from City 121,172 218,845 (97,673)
<br /> Transfers from other City funds 40,000 1,372 38,628
<br /> Transfers to other City funds (806,162) (857,692) 51,530
<br /> Change in net position 2,409,730 2,582,978 (173,248)
<br /> Net position,January 1 51,606,358 49,023,380 2,582,978
<br /> Net position,December 31 $ 54,016,088 $ 51,606,358 $ 2,409,730
<br /> Revenues
<br /> Table A-2 shows that operating revenue increased by 1.85 percent in 2013 for the Electric and Water Departments combined.
<br /> Nonoperating revenue is comprised of transmission rebate revenue in the Electric Department,and water tower lease revenue in the
<br /> Water Department,as well as connection fees in both departments. Regarding transmission rebates,in 2007 the Electric Utility
<br /> partnered with Midwest Municipal Transmission Group(MMTG)in order to have our transmission assets recognized in the Midwest
<br /> Independent Transmission System Operator(MISO)market. In doing so,our transmission assets generate a revenue rebate,which in
<br /> turn helps keep our rates down. In 2013,rebates received from our 2011 filings were approximately$5,400 per month.The Water
<br /> Department is receiving lease revenue from Sprint for antennas on the water towers. In 2013 this amount was approximately$98,000,
<br /> and will continue for the duration of the multi-year contract.
<br /> Capital Contributions increased this year for a water main project of approximately$121,000. Water Connection Fees increased
<br /> approximately$100,000,and Electric Connection Fees increased approximately$33,000.The increase in Connection Fees was largely
<br /> impacted by the resurgence in new homes as the economy has begun rebounding.
<br /> Total Expenses
<br /> In reviewing total expenses in Table A-2 you will notice that there was an increase of 2.7 percent overall. Purchased Power(the
<br /> amount the Utilities pays for the power distributed)increased 3.7 percent.
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