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ELK RIVER MUNICIPAL UTILITIES
<br />ELK RIVER, MINNESOTA
<br />STATEMENTS OF REVENUES, EXPENSES AND CHANGES IN FUND NET ASSETS
<br />YEARS ENDED DECEMBER 31, 2010 AND 2009
<br />OPERATING REVENUES
<br />Charges for services
<br />Security systems
<br />LFG project
<br />Generation credit
<br />Customer penalties
<br />TOTAL OPERATING REVENUES
<br />Electric
<br />2010 2009
<br />$ 25,056,960 $ 22,581,803
<br />256,647 254,773
<br />],003,341 1,009,682
<br />173,534 172,427
<br />237,319 209,064
<br />26,727,801 24,227,743
<br />OPERATING EXPENSES
<br />18,373,386
<br />16,161,444
<br />Purchased power 919,638 862,345
<br />Production
<br />972,574
<br />1,074,751
<br />Distribution 2,062,942 2,126,794
<br />Depreciation
<br />692,703
<br />797,482
<br />Customer accounts 2,140,948 1,903,943
<br />General and administrative
<br />TOTAL OPERATING EXPENSES 25,162,191 22,926,759
<br />OPERATING INCOME (LOSS) 1,565,610 1,300,984
<br />NONOPERATING REVENUES (EXPENSES)
<br />Interest income
<br />Connection charges
<br />Miscellaneous revenue
<br />Interest expense
<br />Amortization of deferred charges
<br />Loss on sale of capital assets
<br />89,948
<br />64,761
<br />48,421
<br />(272,897)
<br />(8,819)
<br />(11,609)
<br />87,857
<br />78,208
<br />30,377
<br />(299,452)
<br />(11,169)
<br />(32,173)
<br />TOTAL NONOPERATING REVENUES (EXPENSES)
<br />INCOME BEFORE CONTRIBUTIONS AND TRANSFERS
<br />CONTRIBUTIONS FROM DEVELOPERS
<br />TRANSFERS FROM OTHER CITY FUNDS
<br />TRANSFERS TO OTHER CITY FUNDS
<br />CHANGE IN NET ASSETS
<br />NET ASSETS, JANUARY l
<br />NET ASSETS, DECEMBER 31
<br />The notes to [he financial statements are an integral part of this statement.
<br />(90,195)
<br />1,475,415
<br />(146,352)
<br />1,154,632
<br />53,741 -
<br />(657,086) (585,141)
<br />872,070 569,491
<br />25,522,027 24,952,536
<br />$ 26,394,097 $ 25,522,027
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