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CITY OF ELK RIVER
<br /> ENTERPRISE FUNDS- BUDGET TO ACTUAL
<br /> MONTH ENDED MAY,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 $ 2,587,093 $ 4,112,907 38.61%
<br /> Cost of sales 4,761,250 1,457,671 3,303,579 30.62%
<br /> Gross profit 1,938,750 1,129,422 809,328 58.26%
<br /> Operating revenues:
<br /> User charges - - - 0.00% $ 1,668,900 $ 539,905 $ 1,128,995 32.35% $ 1,291,000 $ 433,870 $ 857,130 33.61%
<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 1,535 1,965 43.86% 2,000 40,685 (38,685) 2034.25% 2,300 1,448 852 62.96%
<br /> Total operating revenues 3,500 1,535 1,965 43.86% 1,673,400 573,505 1,099,895 34.27% 1,303,300 422,315 880,985 32.40%
<br /> Operating expenses:
<br /> Personal services 623,350 249,711 373,639 40.06% 518,100 201,851 316,249 38.96% 27,500 5,558 21,942 20.21%
<br /> Supplies 44,600 8,822 35,778 19.78% 254,100 59,630 194,470 23.47% 5,000 1,103 3,897 22.06%
<br /> Other service charges 217,050 66,408 150,642 30.60% 526,650 277,655 248,995 52.72% 1,316,450 403,762 912,688 30.67%
<br /> Depreciation* 124,400 - 124,400 0.00% 977,950 - 977,950 0.00% - - - 0.00%
<br /> Total operating expenses 1,009,400 324,941 684,459 32.19% 2,276,800 539,136 1,737,664 23.68% 1,348,950 410,423 938,527 30.43%
<br /> Operating income(loss) 932,850 806,016 126,834 86.40% (603,400) 34,369 (637,769) -5.70% 45,650 11,892 57,542 -26.05%
<br /> Nonoperating revenues(expenses):
<br /> Interest income 26,100 5,219 20,881 20.00% 81,550 12,542 69,008 15.38% 5,500 1,553 3,947 28.24%
<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 5,219 20,881 20.00% 3,070,700 10,732 3,059,968 0.35% 5,500 1,553 3,947 28.24%
<br /> Income(loss)before contributions and transfers 958,950 811,235 147,715 84.60% 21467,300 45,101 21422,199 1.83% (40,150) 13,445 (53,595) -33.49%
<br /> Contributions-connection fees - - - 0.00% 454,750 (65,541) 520,291 -14.41% - - - 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) 305,100 811,235 (506,135) 265.89% 31808,400 (20,440) 31828,840 -0.54% (68,900) 13,445 (829345) -19.51%
<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 305,100 811,235 (506,135) (31751,600) (580,440) (31171,160) (68,900) 13,445 (82,345)
<br /> *Recorded at year end
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