Page 25 - 2018-2019 MVUAnnual Report

CITY OF MORENO VALLEY, CA
Statement of Revenues, Expenses, and

Changes in Net Position Proprietary Funds

FOR THE YEAR ENDED JUNE 30, 2019

Enterprise Fund-
ELECTRIC
OPERATING REVENUES
Sales and service charges $30,767,861
Miscellaneous $231,497
Total Operating Revenues $30,999,358

OPERATING EXPENSES
Cost of services $1,201,253
Depreciation expense $1,845,742
Amortization-Utility Distribution System $177,477
Electricity purchased $12,400,447
Services and supplies $5,811,841
Distribution share $4,600,248
Self-insurance claims and charges -
Total Operating Expenses $26,037,008
Net Operating Income $4,962,350

NON-OPERATING REVENUES (EXPENSES)
Interest revenue $504,300
Interest expense and debt issuance costs ($2,247,633)
Engineering plan check fees $306,462
Gain (loss) on disposal of capital assets ($456,279)
Total Current Liabilities ($1,893,150)
Income Before Contributions and Transfers $3,069,200

TRANSFERS AND CONTRIBUTIONS
Contributed capital $2,496,022
Transfers in (note 7) -
Transfers out (note 7) ($5,354)
Change in Net Position $5,559,868
Total Net Position - Beginning of Year $38,588,058
Total Net Position - End of Year $44,147,926

25

ANNUAL REPORT
FISCAL YEAR 2018-19