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Minnesota Municipal Power Agency <br /> Statements of Revenues, Expenses and Changes in Net Position <br /> YTD June 30, 2018 -Unaudited <br /> Operating revenues—power sales to members $ 57,614,762 <br /> Operating revenues—power sales to non-members 670,601 <br /> Total operating revenues 58,285,363 <br /> Operating expenses: <br /> Power acquisition expense 22,577,736 <br /> Transmission 8,637,741 <br /> Other operating expenses 13,288,645 <br /> Depreciation 7,204,138 <br /> Total operating expenses 51,708,260 <br /> Operating income (loss) 6,577,103 <br /> Nonoperating revenues (expenses): <br /> Amortization of premium on long-term debt, net 566,291 <br /> Interest expense (6,723,551) <br /> Investment income 706,179 <br /> Loss on disposition of property (660,452) <br /> Loss on bond investment redemption (41,745) <br /> Net change in the fair value of investments (422,031) <br /> Total nonoperating revenues (expenses), net (6,575,309) <br /> Change in net position before future recoverable costs 1,794 <br /> Future recoverable costs 2,380,080 <br /> Change in net position 2,381,874 <br /> Total net position,beginning of year 82,388,629 <br /> Total net position,June 30,2018 $ 84,770,503 <br /> 69 <br />