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Minnesota Municipal Power Agency <br /> Statements of Revenues, Expenses and Changes in Net Position <br /> YTD March 31, 2017- Unaudited <br /> Operating revenues–power sales to members $ 24,274,234 <br /> Operating revenues–power sales to non-members 290,053 <br /> Total operating revenues 24,564,287 <br /> Operating expenses: <br /> Power acquisition expense 10,440,903 <br /> Transmission 3,562,129 <br /> Other operating expenses 5,335,099 <br /> Depreciation 3,176,212 <br /> Total operating expenses 22,514,343 <br /> Operating income(loss) 2,049,944 <br /> Nonoperating revenues(expenses): <br /> Amortization of premium on long-term debt,net 282,417 <br /> Interest expense (3,274,084) <br /> Investment income 260,521 <br /> Net change in the fair value of investments (12,676) <br /> Gain on extinguishment of debt — <br /> Gain on sale of investments <br /> Gain on bond retirement <br /> Total nonoperating revenues(expenses),net (2,743,822) <br /> Change in net position before future recoverable costs (693,878) <br /> Future recoverable costs 918,424 <br /> Change in net position 224,546 <br /> Total net position,beginning of year 69,795,529 <br /> Total net position,March 31, 2017 $ 70,020,076 <br /> 89 <br />