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CITY OF ELK RIVER
<br /> ENTERPRISE FUNDS- BUDGET TO ACTUAL
<br /> MONTH ENDED FEBRUARY,2014
<br /> Liquor Sewer Garbage
<br /> Current Year to Date Budget %of Current Year to Date Budget %of Current Year to Date Budget %of
<br /> Budget Actual Variance Budget Budget Actual Variance Budget Budget Actual Variance Budget
<br /> Sales and cost of sales:
<br /> Sales $ 6,700,000 $ 901,527 $ 5,798,473 13.46%
<br /> Cost of sales (4,761,250) (455,615) (4,305,635) 9.57%
<br /> Gross profit 1,938,750 445,912 1,492,838 23.00%
<br /> Operating revenues:
<br /> User charges - - - 0.00% $ 1,668,900 $ - $ 1,668,900 0.00% $ 1,291,000 $ 108,016 $ 1,182,984 8.37%
<br /> Delinquency collections - - - 0.00% 2,500 (7,085) 9,585 -283.40% 10,000 (13,003) 23,003 -130.03%
<br /> Other 3,500 834 2,666 23.83% 2,000 - 2,000 0.00% 2,300 724 1,576 31.48%
<br /> Total operating revenues 3,500 834 2,666 23.83% 1,673,400 (7,085) 1,680,485 -0.42% 1,303,300 95,737 1,207,563 7.35%
<br /> Operating expenses:
<br /> Personal services 623,350 97,675 525,675 15.67% 518,100 80,997 437,103 15.63% 27,500 178 27,322 0.65%
<br /> Supplies 44,600 6,328 38,272 14.19% 254,100 21,797 232,303 8.58% 5,000 - 5,000 0.00%
<br /> Other service charges 217,050 19,414 197,636 8.94% 526,650 44,646 482,004 8.48% 1,316,450 101,130 1,215,320 7.68%
<br /> Depreciation* 124,400 - 124,400 0.00% 977,950 - 977,950 0.00% - - - 0.00%
<br /> Total operating expenses 1,009,400 123,417 885,983 12.23% 2,276,800 147,440 2,129,360 6.48% 1,348,950 101,308 1,247,642 7.51%
<br /> Operating income(loss) 932,850 3239329 609,521 34.66% (603,400) (154,525) (448,875) 25.61% (45,650) (51571) (40,079) 12.20%
<br /> Nonoperating revenues(expenses):
<br /> Interest income 26,100 - 26,100 0.00% 81,550 - 81,550 0.00% 5,500 - 5,500 0.00%
<br /> Grant revenue - - - 0.00% 3,000,000 - 3,000,000 0.00% - - - 0.00%
<br /> Interest expense - - - 0.00% (10,850) (10,859) 9 100.08% - - - 0.00%
<br /> Total nonoperating revenues(expenses) 26,100 - 26,100 0.00% 3,070,700 (10,859) 3,081,559 -0.35% 5,500 - 5,500 0.00%
<br /> Income(loss)before contributions and transfers 958,950 323,329 635,621 33.72% 21467,300 (165,384) 21632,684 -6.70% (40,150) (5,571) (34,579) 13.88%
<br /> Contributions-connection fees - - - 0.00% 454,750 (119,764) 574,514 -26.34% - - - 0.00%
<br /> Transfers in - - - 0.00% 1,000,000 - 1,000,000 0.00% 14,400 - 14,400 0.00%
<br /> Transfers out (653,850) - (653,850) 0.00% (113,650) - (113,650) 0.00% (43,150) - (43,150) 0.00%
<br /> NET INCOME(LOSS) 3059100 3239329 (18,229) 105.97% 3,808,400 (285,148) 490939548 -7.49% (68,900) (5,571) (63,329) 8.09%
<br /> Items reclassified to balance sheet at year end:
<br /> Bond Proceeds 5,619,000 - 5,619,000 0.00%
<br /> Capital Outlay (12,619,000) - (12,619,000) 0.00%
<br /> Bond Payment (560,000) (560,000) - 100.00%
<br /> Revenues over/(under)expenditures 305,100 3239329 (18,229) (31751,600) (845,148) (29906,452) (68,900) (51571) (63,329)
<br /> *Recorded at year end
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