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Minnesota Municipal Power Agency <br /> Statements of Revenues, Expenses and Changes in Net Position <br /> YTD March 31, 2018 -Unaudited <br /> Operating revenues—power sales to members $ 26,687,660 <br /> Operating revenues—power sales to non-members 309,498 <br /> Total operating revenues 26,997,158 <br /> Operating expenses: <br /> Power acquisition expense 11,298,600 <br /> Transmission 3,978,137 <br /> Other operating expenses 5,826,311 <br /> Depreciation 3,603,046 <br /> Total operating expenses24,706,094 <br /> Operating income(loss) 2,291,064 <br /> Nonoperating revenues(expenses): <br /> Amortization of premium on long-term debt,net 283,146 <br /> Interest expense (3,363,511) <br /> Investment income 325,825 <br /> Loss on bond investment redemption (41,745) <br /> Net change in the fair value of investments (194,712) <br /> Total nonoperating revenues(expenses),net (2,990,997) <br /> Change in net position before future recoverable costs (699,933) <br /> Future recoverable costs 1,178,085 <br /> Change in net position 478,152 <br /> Total net position,beginning of year 82,388,629 <br /> Total net position,March 31,2018 $ 82,866,781 <br /> 77 <br />