See accompanying notes to financial statements. VILLAGE OF GRAFTON Ozaukee County, Wisconsin Statement of Revenues, Expenses and Changes in Net Position - Proprietary Funds For the Year Ended December 31, 2016 Wastewater Water Utility Utility Total Operating Revenues $ 1,786,694 $ 2,289,029 $ 4,075,723 Operating Expenses Operation and maintenance 901,947 1,370,344 2,272,291 Depreciation expense 473,613 782,286 1,255,899 Taxes 16,183 28,410 44,593 Total Operating Expenses 1,391,743 2,181,040 3,572,783 Operating Income 394,951 107,989 502,940 Nonoperating Revenues (Expenses) Investment income 10,479 9,150 19,629 Gain (loss) on sale of capital assets 9,600 (68,400) (58,800) Interest on long-term debt (38,461) (195,285) (233,746) Amortization of loss on refunding (7,302) (2,632) (9,934) Amortization of debt premiums 2,692 10,771 13,463 Total Nonoperating Expenses (22,992) (246,396) (269,388) Income before capital contributions and transfers 371,959 (138,407) 233,552 Capital Contributions 966 91,878 92,844 Transfers Out (348,227) (183,303) (531,530) Change in Net Position 24,698 (229,832) (205,134) NET POSITION - Beginning of year 18,752,706 $ 16,104,505 $ 34,857,211 NET POSITION - END OF YEAR $ 18,777,404 $ 15,874,673 $ 34,652,077 38