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CITY OF ELK RIVER, MINNESOTA
<br />STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND NET ASSETS
<br />PROPRIETARY FUNDS
<br /> YEAR ENDED DECEMBER 31, 2003
<br />
<br />Sales and cost of sales:
<br /> Sales
<br /> Cost of sales
<br /> Gross profit
<br />
<br />Operating revenues:
<br /> User charges
<br /> Delinquency collections
<br /> Other
<br /> Total operating revenues
<br />
<br />Operating expenses:
<br /> Personal services
<br /> Supplies
<br /> Purchased power
<br /> Other service charges
<br /> Depreciation
<br /> Total operating expenses
<br />
<br />Operating income (loss)
<br />
<br />Nonoperating revenues (expenses):
<br /> Connection charges
<br /> Interest income
<br /> Interest expense
<br /> Amortization of bond discount
<br /> Total nonoperating revenues (expenses)
<br />
<br />Income (loss) before contributions and transfers
<br />
<br />Capital contributions
<br />Transfers in (out)
<br />
<br />Change in net assets
<br />
<br />Total net assets - January 1, as previously stated
<br />Prior period adjustment
<br />
<br />Total net assets - January 1, as restated
<br />
<br />Total net assets - December 31
<br />
<br />Municipal
<br />Liquor
<br />
<br />$ 4,152,235
<br /> (3,040,286)
<br /> 1,111,949
<br />
<br />4,041
<br />4,041
<br />
<br />350,101
<br />11,019
<br />
<br />112,711
<br />65,880
<br />
<br />539,711
<br />576,279
<br />
<br /> 24,232
<br />(41,090)
<br />
<br />(16,858)
<br />559,421
<br />
<br /> (183,300)
<br /> 376,121
<br />
<br /> 3,275,435
<br /> (20,638)
<br />
<br /> 3,254,797
<br />$ 3,630,918
<br />
<br /> Garbage
<br />
<br />$
<br />
<br />806,102
<br />16,562
<br />8,144
<br />830,808
<br />
<br /> 3,833
<br /> 32
<br />
<br />880,667
<br />
<br />884,532
<br />
<br />(53,724)
<br />
<br />468
<br />
<br />468
<br />
<br />(53,256)
<br />
<br /> 2,130
<br /> (51,126)
<br />
<br /> 94,694
<br /> 7,317
<br />
<br /> 102,011
<br />$ 50,885
<br />
<br /> Sewer
<br />
<br />$
<br />
<br />1,054,110
<br />
<br /> 12,092
<br />1,066,202
<br />
<br />253,884
<br />58,755
<br />
<br />256,995
<br />685,800
<br />
<br />1,255,434
<br />
<br /> (189,232)
<br />
<br /> 752,615
<br />53,459
<br />(148,264)
<br /> (3,015)
<br /> 654,795
<br />
<br /> 465,563
<br />
<br />1,043,994
<br /> (33,910)
<br />
<br />1,475,647
<br />
<br /> 8,228,419
<br /> 11,071,998
<br />
<br /> 19,300,417
<br />$ 20,776,064
<br />
<br />The notes to the financial statements are an integral part of this statement.
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