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CITY OF ELK RIVER,MINNESOTA
<br /> PLEDGED-REVENUE COVERAGE
<br /> LAST TEN FISCAL YEARS
<br /> Revenue Bonds'
<br /> Net
<br /> Fiscal Gross Operating Revenue Debt Service
<br /> Year Revenue Expenses' Available Principal Interest Coverage
<br /> 2004 $ 17,656,784 $ 13,760,051 $ 3,896,733 $ 2,445,000 $513,878 1.32
<br /> 2005 19,791,626 15,615,453 4,176,173 1,150,000 485,777 2.55
<br /> 2006 21,940,299 16,970,625 4,969,674 2,405,000 573,345 1.67
<br /> 2007 25,212,616 19,212,200 6,000,416 1,045,000 595,642 3.66
<br /> 2008 28,380,372 22,562,437 5,817,935 1,330,000 669,406 2.91
<br /> 2009 29,665,332 23,654,659 6,010,673 1,000,000 681,124 3.58
<br /> 2010 31,869,940 25,849,033 6,020,907 3,785,000 564,105 1.38
<br /> 2011 33,672,393 27,326,836 6,345,557 1,335,000 458,888 3.54
<br /> 2012 35,944,367 28,444,321 7,500,046 1,950,000 410,320 3.18
<br /> 2013 34,737,779 28,629,356 6,108,423 1,505,000 341,419 3.3I
<br /> Note: Details regarding the government's outstanding debt can be found in the notes to the financial statements.
<br /> ' Includes Liquor,Sewer,Water and Electric revenue bonds
<br /> 2 Gross revenue excludes interest income,connection fees and miscellaneous revenues
<br /> 3 Expenses exclude depreciation, interest on bonds and miscellaneous expenses
<br /> 4 Excludes$1,540,000 refunded principal paid through cash with fiscal agent.
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