|
Statements of Revenues, Expenses and Changes in Net Position. While the Statements of Net Position show the change
<br />in financial assets/deferred outflows and liabilities/deferred inflows, the Statements of Revenues, Expenses and Changes
<br />in Net Position, provide answers as to the nature and source of these changes. As can be seen in Table A-2, revenues in
<br />excess of expenses were the main source of the increase in net position of $2,769,707 in fiscal 2022. A closer
<br />examination of the individual categories affecting the source of changes in net position is discussed below:
<br />Table A-2
<br />Condensed Statements of Revenues,
<br />Expenses and Changes in Net Position
<br />Revenues
<br />Operating
<br />Nonoperating
<br />Total Revenues
<br />Expenses
<br />Operating
<br />Nonoperating
<br />Total Expenses
<br />Income Before Contributions and Operating Transfers
<br />Capital Contributions - Developer Infrastructure and Connection Fees
<br />Grants
<br />Contribution from Customers
<br />Transfers from Other City Funds
<br />Transfers to Other City Funds
<br />Change in Net Position
<br />Net Position, January 1
<br />Net Position, December 31
<br />2022
<br />$ 46,811,891
<br />1,174,011
<br />47,985,902
<br />45,579,586
<br />892,147
<br />46,471,733
<br />Increase
<br />2021 (Decrease)
<br />$ 43,881,604
<br />959,409
<br />44,841,013
<br />40,770,940
<br />901,770
<br />41,672,710
<br />$ 2,930,287
<br />214,602
<br />3,144,889
<br />4,808,646
<br />(9,623)
<br />4,799,023
<br />1,514,169
<br />3,168,303
<br />(1,654,134)
<br />2,488,236
<br />1,101,868
<br />1,386,368
<br />-
<br />3,288
<br />(3,288)
<br />298,935
<br />385,316
<br />(86,381)
<br />-
<br />195,245
<br />(195,245)
<br />(1,531,633)
<br />(1,407,734)
<br />(123,899)
<br />2,769,707
<br />3,446,286
<br />(676,579)
<br />75,101,658
<br />71,655,372
<br />3,446,286
<br />$ 77,871,365 $ 75,101,658 $ 2,769,707
<br />Revenues. Table A-2 shows that operating revenue increased by 6.7 percent in 2022 for the Electric and Water
<br />Departments combined.
<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 Department partnered 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 2022, rebates received from our 2020 filings averaged approximately
<br />$51,600 per month. The Water Department is receiving lease revenue from Sprint and Verizon for antennas on the water
<br />towers. In 2022 this amount was approximately $405,882 and will continue for the duration of the multi -year contracts.
<br />18
<br />101
<br />
|