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11
<br />CITI' OF ELK RIA~R MINNESOTA
<br />STATEMENT OF RE«NUES, EXPENSES, AND CHANGES IN FUND NET ASSETS
<br />PROPRIETARY FUNDS
<br />YEAR ENDED DECEMBER 31, 2010
<br /> Municipal Liquor Garbage
<br /> Current Year Prior Year Current Year Prior Year
<br />Sales and cost of sales:
<br />Sales $ x,948,986 $ 6,076,245 $ - $ -
<br />Cost of sales (4,273,029) (4,34,597) - -
<br />Gross profit 1,675,957 1,721,648 - -
<br />Operating revenues:
<br />User charges - - 1,271,275 1,188,754
<br />Delinquency collections - - 10,738 6,183
<br />Other 4,640 4,727 103,324 92,957
<br />Total operating revenues 4,640 4,727 1,385,337 1,287,894
<br />Operating expenses:
<br />Personal services 579,959 595,758 29,705 29,631
<br />Supplies 32,639 13,755 23,268 41,438
<br />Purchased power - - - -
<br />Other service charges 218,309 239,496 1,278,541 1,185,108
<br />Depreciation 123,130 126,391 - -
<br />Total operating expenses 954,037 975,400 1,331,514 1,256,177
<br />Operating income (loss) 726,560 750,975 53,823 31,717
<br />Nonoperating revenues (expenses):
<br />Connection charges - - - -
<br />Interest income 43,920 68,932 5,041 6,783
<br />Miscellaneous revenue - 13,086 - -
<br />Interest expense (39,975) (44,456) - -
<br />Amortization expense (414) (414) - -
<br />Gain (]oss) on disposal of capital assets - - - -
<br />Total nonoperating revenues (expenses) 3,531 37,148 5,041 6,783
<br />Income before contributions and transfers 730,091 788,123 58,864 38,500
<br />Capital contributions - - - -
<br />Transfers in - - 58,457 25,639
<br />Transfers out (341,415) (400,500) - -
<br />Change in net assets 388,676 387,623 117,321 64,139
<br />Total net assets -January 1 6,011,884 5,624,261 383,498 319,359
<br />Total net assets -December 31 $ 6,400,560 $ 6,011,884 $ 500,819 $ 383,498
<br />The notes to the financial statements are an integral part of this statement.
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