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Financial Highlights
<br /> Minnesota Municipal Power Agency
<br /> Statements of Revenues, Expenses,
<br /> and Changes in Net Position Year ended Year ended
<br /> December 31 December 31
<br /> 2015 2014
<br /> Operating revenues:
<br /> Power sales to members $104,806,467 104,722,737
<br /> Power sales to nonmembers 577,120 156,123
<br /> Total operating revenues 105,383,587 104,878,860
<br /> Operating expenses:
<br /> Power acquisition expense 42,466,770 44,839,029
<br /> Transmission 11,125,853 10,444,101
<br /> Other operating expenses 23,597,219 21,836,740
<br /> Depreciation 11,834,346 11,576,917
<br /> Total operating expenses 89,024,188 88,696,787
<br /> Operating income 16,359,399 16,182,073
<br /> Nonoperating revenues (expenses):
<br /> Amortization of premium on long-term debt, net 782,146 324,833
<br /> Interest expense (13,403,391) (14,422,118)
<br /> Investment income 1,402,545 980,363
<br /> Net(decrease) increase in fair value of investments (680,102) 1,999,388
<br /> Gain on extinguishment of debt 378,022 -
<br /> Gain on sale of investments - 102,123
<br /> Total nonoperating revenues (expenses), net (11,520,780) (11,015,411)
<br /> Change in net position before
<br /> future recoverable costs 4,838,619 5,166,662
<br /> Future recoverable costs 4,626,165 2,267,338
<br /> Change in net position 9,464,784 7,434,000
<br /> Total net position, beginning of year 48,644,595 41,210,595
<br /> Total net position, end of year $ 58,109,379 48,644,595
<br /> Visit www.mmpa.org to see comolete aucitec
<br /> financial statements anc learn more aoout VV DA.
<br /> NfMPA
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<br /> 24 2015 MMPA Annual Report
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