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Statements of Revenues, Expenses and Changes in Net Position.While the Statements of Net Position shows the
<br /> change in financial assets/deferred outflows and liabilities/deferred inflows, 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,
<br /> revenues in excess of expenses was the main source of the increase in net position of$2,497,367 in fiscal 2017. 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 /> 2017 2016 (Decrease)
<br /> Revenues
<br /> Operating $ 38,447,069 $ 36,637,917 $ 1,809,152
<br /> Nonoperating 700,321 594,123 106,198
<br /> Total Revenues 39,147,390 37,232,040 1,915,350
<br /> Expenses
<br /> Operating 36,200,460 34,300,740 1,899,720
<br /> Nonoperating 344,573 420,451 (75,878)
<br /> Total Expenses 36,545,033 34,721,191 1,823,842
<br /> Income Before Contributions and Operating Transfers 2,602,357 2,510,849 91,508
<br /> Capital Contributions- Developer Infrastructure and Connection Fees 799,223 358,684 440,539
<br /> Capital Contributions of Asset From City - 73,002 (73,002)
<br /> Grants 40,000 - 40,000
<br /> Contribution from Customers 169,051 - 169,051
<br /> Transfers From Other City Funds - 300,000 (300,000)
<br /> Transfers to Other City Funds (1,113,264) (1,089,287) (23,977)
<br /> Change in Net Position Before Special Item 2,497,367 2,153,248 344,119
<br /> Special Item - 330,923 (330,923)
<br /> Change in Net Position 2,497,367 2,484,171 13,196
<br /> Net Position, January 1 58,194,958 55,885,878 2,309,080
<br /> Prior Period Adjustment - (175,091) 175,091
<br /> Net Position, December 31 $ 60,692,325 $ 58,194,958 $ 2,497,367
<br /> Revenues. Table A-2 shows that operating revenue increased by 4.9 percent in 2017 for the Electric and Water
<br /> Departments combined. The Electric Department operating revenue was impacted partly by the territory acquisition in
<br /> September 2017 adding approximately 480 customers, and also impacted by increased construction activity resulting in
<br /> new customers.
<br /> Nonoperating revenue is comprised of transmission rebate revenue in the Electric Department, and water tower lease
<br /> revenue in the Water Department. Regarding transmission rebates, in 2007 the Electric Utility partnered with Midwest
<br /> Municipal Transmission Group (MMTG) in order to have our transmission assets recognized in the Midwest Independent
<br /> 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 2017, rebates received from our 2015 filings were approximately$11,000 per month.
<br /> The Water Department is receiving lease revenue from Sprint and Verizon for antennas on the water towers. In 2017 this
<br /> amount was approximately$209,000, and will continue for the duration of the multi-year contracts.
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