Minneapolis Water Works Has Good Year
The municipal water works of Minneapolis, Minn., according to the annual report of Registrar W. R. Young, had one of its best years in 1922. A net profit of $294,118.75 was the result of the excess of receipts over expenditures. The total revenue for 1922 was $793,989.54 and total cost of operation and maintenance was $499,870.79. Principal sources of revenue during the year were from the following in the amounts named: Metered water rentals, $763,651.12; tapping permits, $13,778; penalties on turn offs, $2,617; profits on meter sales, $5,867.83; profits on meter repairs. $2,130.18; profits on curb cocks, $2,591.46; rentals for water for building purposes, inspection, thawing of pipes and rental of steam shovel contributed to the revenue item. The revenue from operation of the city-owned trolley line leading from Central Avenue to the filtration plant was $225.24.
The expenses for maintaining the water department during 1922 were $117,687.51; cost of pumping was $115,140.53; purification, $150,550.02; registrar’s office and collections, $113,230.87, and general expenses, $3,261.86, making the total of $499,870.79.
Construction work in 1922 cost the department $398,689.21. Of this amount $270,627.79 was for new extensions; $18,039.35 for street mains; about $17,000 in connection with the filtration plant; $4,255 for the Filmore Street booster pump; $31,706.19 for work at pumping station No. 4; $34,561.90 for the street service building, and $21,951.02 for the 24-inch distribution main for the Lake Harriet and Lynnhurst districts. The balance in the revenue and surplus account at the beginning of this year was $365,546.26.
The value of the fixed properties of the department now amounts to $13,248,984.98. Water mains are valued at $8,698,469 and the filtration plant at $2,141,431. Inventories amount to $211,878. Uncollected taxes total $81,708.83. These go hack to prior to 1916. Water works bonds outstanding aggregate $1,750,000.
Operating profit of the water works in 1921 was $256,701.36. Revenue for that year was $769,932.79 and operation and maintenance expense $513,231.43.
Mr. Young attributes the increased profit during last year to low operation and maintenance costs.