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16

City of Raleigh

Financial Section

STATEMENT OF REVENUES, EXPENSES

AND CHANGES IN FUND NET POSITION

PROPRIETARY FUNDS

For the fiscal year ended June 30, 2016

Convention

Water and

Center Complex

Mass Transit

Stormwater

Operating revenues

Sewer Fund

Fund

Fund

Fund

User charges

219,842,310

$

13,766,370

$

6,874,246

$

17,829,638

$

Charges for services - internal

-

-

-

-

Other

7,153,975

18,178

242,984

109,022

Drug rebate

-

-

-

-

Total operating revenues

226,996,285

13,784,548

7,117,230

17,938,660

Operating expenses

Personnel services

-

8,528,890

701,724

4,249,119

Other facility operating costs

-

8,832,222

8,752,035

6,823,903

Operational expenses

-

-

-

-

Administration

9,634,152

-

-

-

Water supply and treatment

27,928,220

-

-

-

Sewer system and treatment

20,871,828

-

-

-

Warehousing, maintenance and construction

16,669,275

-

-

-

Utility billing

5,926,932

-

-

-

Other services

3,956,179

-

-

-

Non-departmental charges

8,886,751

-

-

-

Management contract charges

-

-

24,989,504

-

Claims

-

-

-

-

Premiums

-

-

-

-

Depreciation

34,822,233

8,215,751

3,724,582

2,118,660

Other

-

-

-

-

Total operating expenses

128,695,570

25,576,863

38,167,845

13,191,682

Operating income (loss)

98,300,715

(11,792,315)

(31,050,615)

4,746,978

Nonoperating revenue (expense)

Gain (loss) on investments

3,036,029

135,671

-

537,907

Subsidy income - federal and state

-

-

7,685,351

-

Recovery of claims

-

-

-

-

Other revenues

600,130

-

-

-

Interest expense

(22,227,256)

(7,788,151)

-

-

Gain (loss) on sale of capital assets

614,672

-

467

-

Miscellaneous expense

(2,417,249)

(1,224,881)

-

-

Total nonoperating revenue (expense)

(20,393,674)

(8,877,361)

7,685,818

537,907

Income (loss) before contributions,

transfers and special items

77,907,041

(20,669,676)

(23,364,797)

5,284,885

Capital contributions

1,681,573

-

1,942,973

1,210,796

Transfers in

331,360

22,883,546

20,075,542

18,326

Transfers out

(1,709,278)

(257,694)

(241,164)

(180,232)

Change in net position

78,210,696

1,956,176

(1,587,446)

6,333,775

Net position, beginning of year

867,191,881

18,327,382

44,535,321

88,971,030

Net position, end of year

945,402,577

$

20,283,558

$

42,947,875

$

95,304,805

$

The notes to the financial statements are an integral part of this statement.

Enterprise Funds

16