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Enterprise Funds
<br /> The activities of the Enterprise funds include the municipal liquor,garbage, sewer,water and electric. The electric and water
<br /> operations,under the direction of the Utilities Commission,are included in the financial statements since City Council has the ultimate
<br /> oversight responsibility for their operations.
<br /> Municipal Liquor Fund
<br /> The following is a summary of operations in the Municipal Liquor fund for the past three years:
<br /> 2011 2012 2013
<br /> Total Percent Total Percent Total Percent
<br /> Sales $ 6,139,096 100.0 % $ 6,516,386 100.0 % $ 6,753,521 100.0 %
<br /> Cost of sales (4,385,452) (71.4) (4,638,550) (71.2) (4,705,979) (69.7)
<br /> Gross profit 1,753,644 28.6 1,877,836 28.8 2,047,542 30.3
<br /> Operating revenues 6,596 0.1 8,848 0.1 3,060 -
<br /> Operating expenses (947,692) (15-4) (970,330) (14-9) (1,000,781) (14-8)
<br /> Operating income 812,548 13.3 916,354 14.0 1,049,821 15.5
<br /> Nonoperating
<br /> revenues(expenses) 12,031 0.2 (68,740) (1.1) (87,003) (1.3)
<br /> Transfers out (3,115,592) (50.8) (468,667) (7.2) (672,289) (10.0)
<br /> Change in net position $ (2,291,013) 37.3L% $ 378,947 5.7 % $ 290,529 4.2 %
<br /> Bonds payable $ 730,000 $ - $ -
<br /> Municipal Liquor Fund Cash Balance
<br /> $2,500,000
<br /> $1,797,477 $1,992,380
<br /> $2,000,000
<br /> $1,555,676
<br /> $1,500,000
<br /> $1,000,000
<br /> $500,000
<br /> $-
<br /> 2011 2012 2013
<br /> Unrestricted (Minimum target balance(one year of operating expenses)
<br /> The 2011 change in net position decreased significantly due to a transfer out to provide funding for the public works facility
<br /> project.The change in net position for 2013 is comparable to prior year.
<br /> Cash continues to remain strong in relation to operations. The decrease in cash in 2012 was a result of$570,000 People
<br /> debt prepaid. The increase in cash for 2013 was a result of net cash provided by operations($1,198,752) P
<br /> exceeding transfers out of$672,289. Also,the net cash from operations was roughly$200,000 more than the +Process®
<br /> net cash from operations in 2012 of$996,396. GoiN
<br /> B�Uthe
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