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CITY OF ELK RIVER,MINNESOTA
<br /> Elk River Municipal Utilities-Electric System
<br /> Statement of Revenues,Expenses,and Changes In Net Position
<br /> For Fiscal Years ended December 31
<br /> 2008 2009 2010 2011 2012
<br /> OPERATING REVENUES
<br /> User Charges $22,531,766 $23,846,258 $26,316,948 $28,150,773 $30,365,645
<br /> Delinquency Collections 187,553 209,064 237,319 257,040 238,314
<br /> Other 222,584 172,421 173,534 176,173 (345,269)
<br /> Total Operating Revenues $22,941,903 $24,227,743 $26,727,801 $28,583,986 $30,258,690
<br /> OPERATING EXPENSES
<br /> Personal Services $ 1,615,414 $ 1,700,994 $ 1,773,380 $ 1,692,020 $ 1,707,401
<br /> Supplies 117,437 133,347 116,299 132,149 135,161
<br /> Purchased Power 14,778,270 16,318,126 18,527,610 19,758,584 20,499,773
<br /> Other Service Charges 3,035,938 2,647,498 2,681,960 2,808,580 2,908,383
<br /> Depreciation 2,057,851 2,126,794 2,062,942 2,041,717 2,099,594
<br /> Total Operating Expense $21,604,910 $22,926,759 $25,162,191 $26,433,050 $27,350,312
<br /> OPERATING INCOME(LOSS) $ 1,336,993 $ 1,300,984 $ 1,565,610 $ 2,150,936 $ 2,908,378
<br /> NONOPERATING REVENUES(EXPENSES)
<br /> Connection Charges $ 300,769 $ 78,208 $ 64,761 $ - $
<br /> -
<br /> Interest Income 155,597 87,857 89,948 113,983 117,753
<br /> Miscellaneous Revenue 126,969 30,377 48,421 73,712 144,779
<br /> Interest Expense (314,775) (299,452) (272,897) (256,141) (236,261)
<br /> Amortization Expense (11,169) (11,169) (8,819) - -
<br /> Gain(Loss)on Sale of Capital Assets (8,369) (32,173) (11,609) (37,158) 2,260
<br /> Total Nonoperating Revenues(Expenses) $ 249,022 $ (146,352) $ (90,195) $ (105,604) $ 28,531
<br /> INCOME(LOSS)BEFORE CONTRIBUTIONS
<br /> AND TRANSFERS $ 1,586,015 $ 1,154,632 $ 1,475,415 $ 2,045,332 $ 2,936,909
<br /> Transfers In - - 53,741 - -
<br /> Transfers Out (540,636) (585,141) (657,086) (711,415) (816,864)
<br /> CHANGE IN NET POSITION $ 1,045,379 $ 569,491 $ 872,070 $ 1,333,917 $ 2,120,045
<br /> TOTAL NET POSITION(JANUARY 1) $24,015,574 $24,952,536 $25,522,027 $26,279,322 $27,613,239
<br /> PRIOR PERIOD ADJUSTMENTS (108,417) - - - -
<br /> TOTAL NET POSITION,RESTATED(JANUARY 1) $23,907,157 $24,952,536 $25,522,027 $26,279,322 $27,613,239
<br /> TOTAL NET POSITION(DECEMBER 31) $24,952,536 $25,522,027 $26,394,097 $27,613,239 $29,733,284
<br /> - 18 -
<br /> 99
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