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CITY OF ELK RIVER
<br /> ENTERPRISE FUNDS- BUDGET TO ACTUAL
<br /> MONTH ENDED MARCH,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 $ 1,408,700 $ 5,291,300 21.03%
<br /> Cost of sales (4,761,250) (763,682) (3,997,568) 16.04%
<br /> Gross profit 1,938,750 645,018 1,293,732 33.27%
<br /> Operating revenues:
<br /> User charges - - - 0.00% $ 1,668,900 $ 271,581 $ 1,397,319 16.27% $ 1,291,000 $ 215,910 $ 1,075,090 16.72%
<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 1,022 2,478 29.20% 2,000 - 2,000 0.00% 2,300 1,100 1,200 47.83%
<br /> Total operating revenues 3,500 1,022 2,478 29.20% 1,673,400 264,496 1,408,904 15.81% 1,303,300 204,007 1,099,293 15.65%
<br /> Operating expenses:
<br /> Personal services 623,350 154,722 468,628 24.82% 518,100 121,751 396,349 23.50% 27,500 1,957 25,543 7.12%
<br /> Supplies 44,600 6,839 37,761 15.33% 254,100 32,448 221,652 12.77% 5,000 - 5,000 0.00%
<br /> Other service charges 217,050 34,547 182,503 15.92% 526,650 130,775 395,875 24.83% 1,316,450 196,690 1,119,760 14.94%
<br /> Depreciation* 124,400 - 124,400 0.00% 977,950 - 977,950 0.00% - - - 0.00%
<br /> Total operating expenses 1,009,400 196,108 813,292 19.43% 2,276,800 284,974 1,991,826 12.52% 1,348,950 198,647 1,150,303 14.73%
<br /> Operating income(loss) 932,850 4499932 482,918 48.23% (603,400) (20,478) (582,922) 3.39% (45,650) 51360 (51,010) -11.74%
<br /> Nonoperating revenues(expenses):
<br /> Interest income 26,100 2,020 24,080 7.74% 81,550 5,112 76,438 6.27% 5,500 626 4,874 11.38%
<br /> Grant revenue - - - 0.00% 3,000,000 - 3,000,000 0.00% - - - 0.00%
<br /> Interest expense - - - 0.00% (10,850) (1,810) (9,040) 16.68% - - - 0.00%
<br /> Total nonoperating revenues(expenses) 26,100 2,020 24,080 7.74% 3,070,700 3,302 3,067,398 0.11% 5,500 626 4,874 11.38%
<br /> Income(loss)before contributions and transfers 958,950 451,952 506,998 47.13% 21467,300 (17,176) 21484,476 -0.70% (40,150) 51986 (46,136) -14.91%
<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 4519952 (146,852) 148.13% 3,808,400 (136,940) 319459340 -3.60% (68,900) 5,986 (74,886) -8.69%
<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 4519952 (146,852) (31751,600) (696,940) (39054,660) (68,900) 51986 (74,886)
<br /> *Recorded at year end
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