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CITY OF ELK RIVER,MINNESOTA
<br /> STATEMENTS OF REVENUES,EXPENSES,AND CHANGES IN NET POSITION
<br /> PROPRIETARY FUNDS
<br /> FOR THE YEARS ENDED DECEMBER 31,2012 AND 2011
<br /> Municipal Liquor Garbage
<br /> Restated
<br /> Current Year Prior Year Current Year Prior Year
<br /> Sales and cost of sales:
<br /> Sales $ 6,516,386 $ 6,139,096 $ $
<br /> Cost of sales (4,638,550) (4,385,452) -
<br /> Gross profit 1,877,836 1,753,644 -
<br /> Operating revenues:
<br /> User charges - - 1,279,607 1,287,667
<br /> Delinquency collections - - 11,540 10,839
<br /> Other 8,848 6,596 35,213 46,168
<br /> Total operating revenues 8,848 6,596 1,326,360 1,344,674
<br /> Operating expenses:
<br /> Personal services 607,500 589,576 54,678 33,791
<br /> Supplies 16,887 24,291 4,262 32,311
<br /> Purchased power - - - -
<br /> Other service charges 221,593 210,695 1,217,947 1,238,136
<br /> Depreciation 124,350 123,130 - -
<br /> Total operating expenses 970,330 947,692 1,276,887 1,304,238
<br /> Operating income(loss) 916,354 812,548 49,473 40,436
<br /> Nonoperating revenues(expenses):
<br /> Interest income 14,485 45,444 5,730 8,005
<br /> Miscellaneous revenue - - - -
<br /> Interest expense (13,425) (33,413)
<br /> Gain(loss)on disposal of capital assets -
<br /> Capital asset transfer (69,800) - -
<br /> Total nonoperating revenues(expenses) (68,740) 12,031 5,730 8,005
<br /> Income before contributions and transfers 847,614 824,579 55,203 48,441
<br /> Contributions-connection fees - - - -
<br /> Capital contributions - -
<br /> Transfers in 18,330
<br /> Transfers out (468,667) (3,115,592) (4,120) -
<br /> Change in net position 378,947 (2,291,013) 51,083 66,771
<br /> Net position-beginning,restated 4,107,859 6,398,872 567,590 500,819
<br /> Net position-ending $ 4,486,806 $ 4,107,859 $ 618,673 $ 567,590
<br /> The notes to the financial statements are an integral part of this statement.
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