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<br />CITY OF ELK RIVER, A'HNNESOTA
<br />STATEDZENT OF REVENUES, EKPENSES, AND CHANGES IN FUND NET ASSETS
<br />PROPRIETARY FUNDS
<br />YEAR ENDED DECEMBER 31, 2009
<br /> Municipal Liquor Garbage
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<br /> Current Year Prior Year Current Year Prior Year
<br />Sales and cost of sales:
<br />Sales $ 6,076,245 $ 6,209,322 $ - $ -
<br />Cost of sales (4,354,597) (4,421,064) - -
<br />Gross profit 1,721,648 1,788,258 - -
<br />Operating revenues:
<br />User charges - - 1,188,754 1,153,377
<br />Delinquency collections - - 6,183 6,780
<br />Other 4,727 4,335 92,957 22,975
<br />Total operating revenues 4,727 4,335 1,287,894 1,183,132
<br />Operating expenses:
<br />Personal services 595,758 623,815 29,631 26,866
<br />Supplies 13,755 20,653 41,438 59
<br />Purchased power - - - -
<br />Otherservicecharges 239,496 225,143 1,185,108 1,139,784
<br />Depreciation 126,391 125,489 - -
<br />Total operating expenses 975,400 995,100 1,256,177 1,166,709
<br />Operating income (loss) 750,975 797,493 31,717 16,423
<br />Nonoperating revenues (expenses):
<br />Connection charges - - - -
<br />Interest income 68,932 125,346 6,783 11,055
<br />Miscellaneous revenue 13,086 - - -
<br />Interest expense (44,456) (48,655) - -
<br />Amortization expense (414) (414) - -
<br />Gain (loss) on sale of capital assets - - - -
<br />Total nonoperating revenues (expenses) 37,148 76,277 6,783 11,055
<br />Income before contributions and transfers 788,123 873,770 38,500 27,478
<br />Transfers in - - 25,639 37,883
<br />Transfers out (400,500) (471,548) - -
<br />Change in net assets 387,623 402,222 64,139 65,361
<br />Total net assets -January 1 5,624,261 5,222,039 319,359 253,998
<br />Prior period adjustments - - - -
<br />Total net assets, restated -January 1 5,624,261 5,222,039 319,359 253,998
<br />Total net assets -December 31 $ 6,011,884 $ 5,624,261 $ 383,498 $ 319,359
<br />The notes to the financial statements are an integral part of this statement.
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