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CITY OF ELK RIVER, MINNESOTA
<br />STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND NET ASSETS
<br />PROPRIETARY FUNDS
<br />YEAR ENDED DECEMBER 31, 2011
<br />Operating expenses:
<br />Personal services
<br />Supplies
<br />Purchased power
<br />Other service charges
<br />Depreciation
<br />Total operating expenses
<br />Operating income (loss)
<br />Nonoperating revenues (expenses):
<br />Interest income
<br />Miscellaneous revenue
<br />Interest expense
<br />Amortization expense
<br />Gain (loss) on disposal of capital assets
<br />Total nonoperating revenues (expenses)
<br />Income before contributions and transfers
<br />Contributions - connection fees
<br />Capital contributions
<br />Transfers in
<br />Transfers out
<br />Change in net assets
<br />Total net assets - January I
<br />Total net assets - December 31
<br />589,576
<br />Municipal Liquor
<br />Garbage
<br />29,705
<br />24,291
<br />Current Year
<br />Prior Year
<br />Current Year
<br />Prior Year
<br />Sales and cost of sales:
<br />1,238,136
<br />1,278,541
<br />123,130
<br />123,130
<br />Sales
<br />$ 6,139,096
<br />$ 5,948,986
<br />$ - $
<br />-
<br />Cost of sales
<br />(4,385,452)
<br />(4,273,029)
<br />-
<br />53,823
<br />Gross profit
<br />1,753,644
<br />1,675,957
<br />45,444
<br />Operating revenues:
<br />8,005
<br />5,041
<br />(33,413)
<br />(39,975)
<br />User charges
<br />-
<br />-
<br />1,287,667
<br />1,271,275
<br />Delinquency collections
<br />-
<br />-
<br />10,839
<br />10,738
<br />Other
<br />6,596
<br />4,640
<br />46,168
<br />103,324
<br />Total operating revenues
<br />6,596
<br />4,640
<br />1,344,674
<br />1,385,337
<br />Operating expenses:
<br />Personal services
<br />Supplies
<br />Purchased power
<br />Other service charges
<br />Depreciation
<br />Total operating expenses
<br />Operating income (loss)
<br />Nonoperating revenues (expenses):
<br />Interest income
<br />Miscellaneous revenue
<br />Interest expense
<br />Amortization expense
<br />Gain (loss) on disposal of capital assets
<br />Total nonoperating revenues (expenses)
<br />Income before contributions and transfers
<br />Contributions - connection fees
<br />Capital contributions
<br />Transfers in
<br />Transfers out
<br />Change in net assets
<br />Total net assets - January I
<br />Total net assets - December 31
<br />589,576
<br />579,959
<br />33,791
<br />29,705
<br />24,291
<br />32,639
<br />32,311
<br />23,268
<br />210,695
<br />218,309
<br />1,238,136
<br />1,278,541
<br />123,130
<br />123,130
<br />-
<br />-
<br />947,692
<br />954,037
<br />1,304,238
<br />1,331,514
<br />812,548
<br />726,560
<br />40,436
<br />53,823
<br />45,444
<br />43,920
<br />8,005
<br />5,041
<br />(33,413)
<br />(39,975)
<br />-
<br />(414)
<br />(414)
<br />-
<br />11,617
<br />3,531
<br />8,005
<br />5,041
<br />824,165
<br />730,091
<br />48,441
<br />58,864
<br />18,330
<br />58,457
<br />(3,115,592)
<br />(341,415)
<br />-
<br />-
<br />(2,291,427)
<br />388,676
<br />66,771
<br />117,321
<br />6,400,560
<br />6,011,884
<br />500,819
<br />383,498
<br />$ 4,109,133
<br />$ 6,400,560
<br />$ 567,590
<br />$ 500,819
<br />The notes to the financial statements are an integral part of this statement.
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