Page 69 - 2018 Comprehensive Annual Financial Report - City of Winston-Salem

City of Winston-Salem, North Carolina
Statement of Revenues, Expenses, and Changes in Fund Net Position
Proprietary Funds

For the Fiscal Year Ended June 30, 2018 Exhibit 7
Enterprise Funds Internal
Water and Solid Waste Transit Non-Major Service
Sewer Utility Disposal Authority Funds Total Funds
Operating Revenues
Sales $ 104,882,024 $ - $ - $ - $ 104,882,024 $ -
Charges for services 4,316,905 11,450,547 1,760,419 15,321,890 32,849,761 75,422,833
Other 27,890 21,842 308,289 2,589,701 2,947,722 1,418,581
Total operating revenues 109,226,819 11,472,389 2,068,708 17,911,591 140,679,507 76,841,414
Operating Expenses
Personal services 19,706,734 2,140,663 12,241,222 4,126,712 38,215,331 7,168,629
Maintenance and operations 23,519,501 5,509,711 4,503,576 8,526,537 42,059,325 66,612,662
Total operating expenses
before depreciation 43,226,235 7,650,374 16,744,798 12,653,249 80,274,656 73,781,291
Depreciation 26,939,559 4,313,764 2,946,743 3,271,222 37,471,288 1,175,314
Total operating expenses 70,165,794 11,964,138 19,691,541 15,924,471 117,745,944 74,956,605
Operating income (loss) 39,061,025 (491,749) (17,622,833) 1,987,120 22,933,563 1,884,809
Nonoperating Revenues
(Expenses)
Intergovernmental revenue 1,614,268 988,762 5,355,774 501,860 8,460,664 -
Property taxes - - 10,434,990 - 10,434,990 -
Investment income (loss) 6,613,477 1,569,572 158 1,341,897 9,525,104 5,104,876
Gain (loss) on disposal of assets 2,558,982 621,563 21,289 (341,008) 2,860,826 56,754
Damage settlements - - 21,234 - 21,234 -
Interest and scal expense (17,710,379) (294,061) - (1,361,181) (19,365,621) (164,452)
Amortization of nancing costs (887,039) 98,759 - 37,116 (751,164) -
Total nonoperating revenues
(expenses), net (7,810,691) 2,984,595 15,833,445 178,684 11,186,033 4,997,178
Income (loss) before capital
contributions and transfers 31,250,334 2,492,846 (1,789,388) 2,165,804 34,119,596 6,881,987
Capital Contributions 9,677,021 - 473,893 58,467 10,209,381 -

Transfers In - 543,319 - 3,605,700 4,149,019 -
Transfers Out (433,007) - (13,781) (1,993,747) (2,440,535) (129,670)
Total transfers (433,007) 543,319 (13,781) 1,611,953 1,708,484 (129,670)
Change in net position 40,494,348 3,036,165 (1,329,276) 3,836,224 46,037,461 6,752,317

Total net position – beginning, as
previously stated 461,961,850 45,097,081 30,102,784 91,666,449 46,789,140
Cumulative e ect adjustment (2,635,597) (286,871) - (560,101) (956,946)
Total net position - beginning, as adjusted 459,326,253 44,810,210 30,102,784 91,106,348 45,832,194
Total net position - ending $ 499,820,601 $ 47,846,375 $ 28,773,508 $ 94,942,572 $ 52,584,511
Adjustment to re ect the consolidation
of internal service fund activities related
to enterprise funds 2,667,999
Change in net position of
business-type activities $ 48,705,460

The accompanying notes are an integral part of the nancial statements.

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