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CITY OF ELK RIVER
<br /> ENTERPRISE FUNDS- BUDGET TO ACTUAL
<br /> MONTH ENDED JULY,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 $ 3,813,023 $ 2,886,977 56.91%
<br /> Cost of sales (4,761,250) (2,368,947) (2,392,303) 49.75%
<br /> Gross profit 1,938,750 1,444,076 494,674 74.48%
<br /> Operating revenues:
<br /> User charges - - - 0.00% $ 1,668,900 $ 824,215 $ 844,685 49.39% $ 1,291,000 $ 653,200 $ 637,800 50.60%
<br /> Delinquency collections - - - 0.00% 2,500 (6,267) 8,767 -250.68% 10,000 (9,008) 19,008 -90.08%
<br /> Other 3,500 2,033 1,467 58.09% 2,000 40,685 (38,685) 2034.25% 2,300 1,859 441 80.83%
<br /> Total operating revenues 3,500 2,033 1,467 58.09% 1,673,400 858,633 814,767 51.31% 1,303,300 646,051 657,249 49.57%
<br /> Operating expenses:
<br /> Personal services 623,350 352,605 270,745 56.57% 518,100 270,721 247,379 52.25% 27,500 9,144 18,356 33.25%
<br /> Supplies 44,600 13,239 31,361 29.68% 254,100 84,885 169,215 33.41% 5,000 1,916 3,084 38.32%
<br /> Other service charges 217,050 98,044 119,006 45.17% 526,650 443,404 83,246 84.19% 1,316,450 623,172 693,278 47.34%
<br /> Depreciation* 124,400 - 124,400 0.00% 977,950 - 977,950 0.00% - - - 0.00%
<br /> Total operating expenses 1,009,400 463,888 545,512 45.96% 2,276,800 799,010 1,477,790 35.09% 1,348,950 634,232 714,718 47.02%
<br /> Operating income(loss) 932,850 9829221 (49,371) 105.29% (603,400) 59,623 (663,023) -9.88% (45,650) 11,819 (57,469) -25.89%
<br /> Nonoperating revenues(expenses):
<br /> Interest income 26,100 10,636 15,464 40.75% 81,550 25,404 56,146 31.15% 5,500 3,109 2,391 56.53%
<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 10,636 15,464 40.75% 3,070,700 23,594 3,047,106 0.77% 5,500 3,109 2,391 56.53%
<br /> Income(loss)before contributions and transfers 958,950 992,857 (33,907) 103.54% 21467,300 83,217 21384,083 3.37% (40,150) 14,928 (55,078) -37.18%
<br /> Contributions-connection fees - - - 0.00% 454,750 88,736 366,014 19.51% - - - 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) (644,369) (9,481) 98.55% (113,650) (118,650) 5,000 104.40% (43,150) (43,150) - 100.00%
<br /> NET INCOME(LOSS) 3059100 3489488 (43,388) 114.22% 3,808,400 53,303 317559097 1.40% (68,900) (28,222) (40,678) 40.96%
<br /> Items reclassified to balance sheet at year end:
<br /> Bond Proceeds 5,619,000 100,000 5,519,000 1.78%
<br /> Capital Outlay (12,619,000) (214,615) (12,404,385) 1.70%
<br /> Bond Payment (560,000) (560,000) - 100.00%
<br /> Revenues over/(under)expenditures 305,100 3489488 (43,388) (31751,600) (621,312) (39130,288) (68,900) (28,222) (40,678)
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