Page 14 - MVU Annual Report 2019/20

Statement of Revenues, Expenses, and Changes
IN NET POSITION PROPRIETARY FUNDS

FOR THE YEAR ENDED JUNE 30, 2020

Enterprise Fund-
ELECTRIC
OPERATING REVENUES
Sales and service charges $35,475,108
Miscellaneous $182,689
Total Operating Revenues $35,657,797

OPERATING EXPENSES
Cost of services $1,414, 206
Depreciation expense $2,115,577
Amortization-Utility Distribution System $177,477
Electricity purchased $11,706,628
Services and supplies $7,800,489
Distribution share $4,443,892
Self-insurance claims and charges -
Total Operating Expenses $27,658,269
Net Operating Income $7,999,528

NON-OPERATING REVENUES (EXPENSES)
Interest revenue $810,852
Interest expense and debt issuance costs ($2,856,298)
Engineering plan check fees $423,917
Gain (loss) on disposal of capital assets -
Total Current Liabilities ($1,621,529)
Income Before Contributions and Transfers $6,377,999

TRANSFERS AND CONTRIBUTIONS
Contributed capital $1,704, 623
Transfers in (note 7) -
Transfers out (note 7) ($147,460)
Change in Net Position $7,935,162
Total Net Position - Beginning of Year $44,147,926
Total Net Position - End of Year $52,083,088
Statement of Cash Flows

PROPRIETARY FUNDS

FOR THE YEAR ENDED JUNE 30, 2020

Enterprise Fund-
ELECTRIC

CASH FLOWS FROM OPERATING ACTIVITIES
Cash receipts from customers $34,890,350
Payments to suppliers ($25,679,326)
Payments to employees ($1,242,736)
Cash paid for claims -
Net cash provided (used) by operating activities $7,968,288

CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES
Cash transfers in -
Cash transfers out ($147,460)
Net cash provided (used) by noncapital financing activities ($147,460)