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Minnesota Municipal Power Agency <br /> Statements of Revenues,Expenses and Changes in Net Position <br /> YTD September 30,2019-Unaudited <br /> Operating revenue: <br /> Power sales to members $ 109,639,116 <br /> Power sales to non-members 1,030,489 <br /> Total operating revenue 110,669,605 <br /> Operating expenses: <br /> Power acquisition expense 38,748,080 <br /> Transmission 18,079,032 <br /> Other operating expenses 20,893,948 <br /> Depreciation 10,847,622 <br /> Total operating expenses 88,568,682 <br /> Operating income(loss) 22,100,923 <br /> Nonoperating revenues(expenses): <br /> Amortization of premium on long-term debt,net 849,437 <br /> Interest expense (9,702,465) <br /> Investment income 1,963,973 <br /> Loss on bond investment redemption (56,710) <br /> Net change in the fair value of investments 1,139,663 <br /> Total nonoperating revenues(expenses),net (5,806,102) <br /> Change in net position before future recoverable costs 16,294,821 <br /> Future recoverable costs 1,443,297 <br /> Change in net position 17,738,118 <br /> Total net position,beginning of year 118,320,796 <br /> Total net position, September 30,2019 $ 136,058,914 <br /> 226 <br />