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Business-type activities. Business-type activities increased the City of Elk River's net assets by $920,055 which accounts <br />for 51 percent of the total growth in the net assets of the City. Key elements of this increase are as follows: <br />• Charges for services for business-type activities totaled $35,270,716. The electric utility accounts for 69% of the <br />total. Overall charges for services increased $1,304,171 or 4% when compared to 2008. This increase was due <br />mainly to increased electric usage. <br />• As a result of the decrease in construction activity, connection fees were down $651,692. <br />• Investment income decreased by $166,602 due to market rate conditions. <br />• The increase in operating expenses is a result from the increase in purchased power for the electric utility of <br />$1,539,856 or l0% over 2008. <br />Below are graphs showing the business-type activities revenue and expense comparisons. <br />Revenues by Source -Business-type Activities <br />Unrestricted investment <br />earnings <br />1.0% <br />Capital grants and <br />contributions <br />0.7% <br />Operating grants and <br />contributions <br />0.3% <br />arges for services <br />98.0% <br />16 <br />