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City of Elk River <br /> May 17,2013 <br /> Page 13 <br /> Garbage Fund <br /> The following is a summary of operations in the Garbage fund for the past three years: <br /> 2010 2011 2012 <br /> Total Percent Total Percent Total Percent <br /> Operating revenues $ 1,385,337 100.0 % $ 1,344,674 100.0 % $ 1,326,360 100.0 % <br /> Operating expenses 1,331,514 96.1 1,304,238 97.0 1,276,887 96.3 <br /> Operating income 53,823 3.9 40,436 3.0 49,473 3.7 <br /> Nonoperating revenues 5,041 0.4 8,005 0.6 5,730 0.4 <br /> Transfers in 58,457 4.2 18,330 1.4 - - <br /> Transfers out - - - - (4,120) (0.3) <br /> Change in net position $ 117,321 8.5 % $ 66,771 5.0 % $ 51,083 3.8 % <br /> Cash and investments $ 467,670 $ 540,516 $ 591,503 <br /> Garbage Fund Operations Summary <br /> $1,600,000 <br /> $1,400,000 <br /> $1,200,000 <br /> $1,000,000 <br /> $800,000 <br /> $600,000 <br /> $400,000 <br /> $200,000 <br /> $- <br /> 2010 2011 2012 <br /> ■Operating revenues ■Operating expenses ■Operating income ■Change in net position ■Cash and investments <br /> The expenses of this fund are mainly contracted services that are generally fixed in amount and relate to the number of users. As <br /> a result,it is not necessary to carry a large cash reserve. The current level appears adequate. Cash has increased each of the last <br /> three years. Changes in net position decreased from the prior year as a result of no transfers in. <br /> 952.835.9090 • Fax 952.835.3261 <br /> www.aemcpas.com <br />