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CITY OF ELK RIVER
<br /> ENTERPRISE FUNDS- BUDGET TO ACTUAL
<br /> MONTH ENDED JUNE,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 $ 3,169,583 $ 3,530,417 47.31%
<br /> Cost of sales (4,761,250) (1,903,429) (2,857,821) 39.98%
<br /> Gross profit 1,938,750 1,266,154 672,596 65.31%
<br /> Operating revenues:
<br /> User charges - - - 0.00% $ 1,668,900 $ 681,822 $ 987,078 40.85% $ 1,291,000 $ 543,484 $ 747,516 42.10%
<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 1,617 683 70.30%
<br /> Total operating revenues 3,500 1,535 1,965 43.86% 1,673,400 715,422 957,978 42.75% 1,303,300 532,098 771,202 40.83%
<br /> Operating expenses:
<br /> Personal services 623,350 302,353 320,997 48.50% 518,100 237,385 280,715 45.82% 27,500 7,351 20,149 26.73%
<br /> Supplies 44,600 11,405 33,195 25.57% 254,100 72,898 181,202 28.69% 5,000 1,916 3,084 38.32%
<br /> Other service charges 217,050 84,960 132,090 39.14% 526,650 414,454 112,196 78.70% 1,316,450 517,032 799,418 39.27%
<br /> Depreciation* 124,400 - 124,400 0.00% 977,950 - 977,950 0.00% - - - 0.00%
<br /> Total operating expenses 1,009,400 398,718 610,682 39.50% 2,276,800 724,737 1,552,063 31.83% 1,348,950 526,299 822,651 39.02%
<br /> Operating income(loss) 932,850 868,971 63,879 93.15% (603,400) (91315) (594,085) 1.54% (45,650) 51799 (51,449) -12.70%
<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 958,950 874,190 84,760 91.16% 21467,300 11417 21465,883 0.06% (40,150) 7,352 (47,502) -18.31%
<br /> Contributions-connection fees - - - 0.00% 454,750 17,799 436,951 3.91% - - - 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) (282,519) (371,331) 43.21% (113,650) - (113,650) 0.00% (43,150) - (43,150) 0.00%
<br /> NET INCOME(LOSS) 3059100 5919671 (286,571) 193.93% 3,808,400 19,216 317899184 0.50% (68,900) 7,352 (76,252) -10.67%
<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 305,100 591,671 (286,571) (31751,600) (540,784) (39210,816) (68,900) 71352 (76,252)
<br /> *Recorded at year end
<br /> GL Rev over/(under)Exp 696,767 (253,474) 38,658
<br /> Interest reversal (105,095) (287,311) (31,306)
<br /> Reported Rev over/(under)Exp 591,672 (540,785) 7,352
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