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<br /> Key elements of the relevant changes are as follows:
<br /> City of Elk River Changes in Net Position
<br /> i
<br /> Governmental Business-type
<br /> Activities Activities Total I
<br /> 2012 2011 2012 2011 2012 2011
<br /> Revenues:
<br /> Program revenues:
<br /> Charges for services $ 2,378,009 $ 2,466,517 $ 42,109,355 $ 39,522,248 $ 44,487,364 $ 41,988,765
<br /> Operating grants and contributions 1,018,519 954,831 23,440 38,550 1,041,959 993,381
<br /> Capital grants and contributions 1,007,794 1,750,824 490,916 482,319 1,498,710 2,233,143
<br /> General revenues: J
<br /> Property taxes 11,684,445 12,346,305 - - 11,684,445 12,346,305
<br /> Other taxes 125,623 83,748 125,623 83,748
<br /> Grants and contributions not
<br /> restricted to specific programs 1,307,662 1,702,334 - - 1,307,662 1,702,334
<br /> Unrestricted investment earnings 319,654 499,034 219,950 269,716 539,604 768,750
<br /> Gain on disposal of capital assets 49,470 23,233 1,260 - 50,730 23,233
<br /> Total revenues 17,891,176 19,826,826 42,844,921 40,312,833 60,736,097 60,139,659
<br /> Expenses:
<br /> General government 2,994,342 3,495,458 - 2,994,342 3,495,458
<br /> Public safety 6,187 246 6,238,611 6,187,246 6,238,611
<br /> Public works 6,037,000 5,720,759 6,037,000 5,720,759
<br /> Culture and recreation 4,013,098 3,851,181 4,013,098 3,851,181
<br /> Economic development 1,059,058 1,451,109 1,059,058 1,451,109
<br /> Interest on long-term debt 1,163,352 1,045,905 - - 1,163,352 1,045,905
<br /> Municipal liquor - - 5,622,305 5,366,557 5,622,305 5,366,557
<br /> Garbage 1,276,887 1,304,238 1,276,887 1,304,238
<br /> Sewer 2,239,914 2,130,287 2,239,914 2,130,287
<br /> Water 2,264,814 2,108,498 2,264,814 2,108,498
<br /> Electric 27,586,573 26,726,349 27,586,573 26,726,349
<br /> Total expenses 21,454,096 21,803,023 38,990,493 37,635,929 60,444,589 59,438,952
<br /> Increase(decrease)in net
<br /> position before transfers (3,562,920) (1,976,197) 3,854,428 2,676,904 291,508 700,707
<br /> Transfer of capital assets (348,259) - 348,259 - - -
<br /> Transfers 1,504,263 3,610,854 (1,504,263) (3,610,854) - -
<br /> Change in net position (2,406,916) 1,634,657 2,698,424 (933,950) 291,508 700,707
<br /> Net position-beginning,restated 120,307,554 118,672,897 80,670,804 81,604,754 200,978,358 200,277,651
<br /> Net position-ending $ 117,900,638 $ 120,307,554 $ 83,369,228 $ 80,670,804 $ 201,269,866 $ 200,978,358
<br /> • Special assessments levied in 2012 were about$693,625 lower than in 2011 due to the lack of new
<br /> development activity in recent years.
<br /> • The property tax levy for 2012 was reduced by over$425,644due to increased transfers and refunded debt
<br /> service savings.
<br /> • Landfill expansion fee revenues decreased$225,007 due to an increase of municipal waste being diverted
<br /> from the landfill to recycling facilities.
<br /> • The decrease in general government expenses were attributed largely to legal fees of$329,000 incurred in
<br /> 2011 for the settlement of a land use claim.
<br /> • Economic development expenses decreased$406,381 in 2012 due to final payment of development
<br /> commitments and decertification of two tax increment financing districts.
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