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Elk River Municipal Utilities <br />April 24, 2012 <br />Page 6 <br />Water Fund <br />The results of the Water fund are as follows: <br />Water Operations Summary <br /> 2009 2010 2011 <br /> Total Percent Total Percent Total Percent <br />Operating revenues $ 2,206,429 100 % $ 1,913,661 100 % $ 1,832,817 100 <br />Operating expenses 2,059,430 93 1,945,059 102 1,988,759 109 <br />Operating income (loss) 146,999 7 (31,398) (2) (155,942) (9) <br />Nonoperating expenses (61,060) (3) (75,596) (4) (18,933) (1) <br />Income (loss) before <br />contributions and transfers 85,939 4 (106,994) (6) (174,875) (10) <br />Capital contributions -developer <br />infrastructure and connection fees - - 460,534 24 195,853 11 <br />Transfers from City - - 17,914 1 312,823 17 <br />Transfers to City (20,000) (1) (25,000) (1) (25,000) (1) <br />Change in net assets $ 65,939 3 % $ 346,454 18 % $ 308,801 17 <br />Cash and investments $ 2,500,960 $ 2,793,142 $ 2,619,574 <br />952.835.9090 Fax 952.835.3261 <br />www.aemepas.com <br />