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Statements of Revenues,Expenses and Changes inNet Position.While the Statements of Net Positionshows the
<br />change in financial assets/deferred outflowsand 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$2,916,305in fiscal 2019.A closer
<br />examination of the individual categories affecting the source of changes in net positionis discussed below:
<br />TABLE A-2
<br />Condensed Statements of Revenues,
<br />Expensesand Changes in Net Position
<br />Increase
<br />20192018(Decrease)
<br />Revenues
<br />Operating$40,398,303$41,295,726$(897,423)
<br />Nonoperating1,012,656971,57541,081
<br />Total Revenues41,410,95942,267,301(856,342)
<br />Expenses
<br />Operating37,225,53737,825,690(600,153)
<br />Nonoperating676,098520,679155,419
<br />Total Expenses37,901,63538,346,369(444,734)
<br />Income Before Contributions and Operating Transfers3,509,3243,920,932(411,608)
<br />Capital Contributions - Developer Infrastructure and Connection Fees428,662716,810(288,148)
<br />Grants10,000-10,000
<br />Contribution from Customers125,764352,104(226,340)
<br />Transfers to Other City Funds(1,157,445)(1,188,664)31,219
<br />Change in Net Position2,916,3053,801,182(884,877)
<br />Net Position, January 164,493,50760,692,3253,801,182
<br />Net Position, December 31$67,409,812$64,493,507$2,916,305
<br />Revenues. Table A-2 shows thatoperating revenue decreased by 2.2percent in 2019for the Electric and Water
<br />Departments combined. The Electric Department operating revenue was impacted partly by the decrease in rates. Both
<br />the Electric Department and the Water Department were impacted by the cooler summer weather in 2019.
<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 Departmentpartnered with
<br />Midwest Municipal Transmission Group (MMTG) in order to have our transmission assets recognized in the Midwest
<br />Independent Transmission System Operator (MISO) market. In doing so, our transmission assets generate a revenue
<br />rebate, which in turn helps keep our rates down. In 2019, rebates received from our 2017 filings averaged approximately
<br />$31,000 per month. The Water Department is receiving lease revenue from Sprint and Verizon for antennas on the water
<br />towers. In 2019 this amount was approximately $227,000 and will continue for the duration of the multi-year contracts.
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