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CITY OF ELK RIVER, MINNESOTA
<br />PLEDGED -REVENUE COVERAGE
<br />LAST TEN FISCAL YEARS
<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 $1,540,000 refunded principal paid through cash with fiscal agent.
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<br />Revenue Bonds'
<br />Net
<br />Fiscal
<br />Gross
<br />Operating
<br />Revenue
<br />Debt
<br />Service
<br />Year
<br />Revenue z
<br />Expenses'
<br />Available
<br />Principal
<br />Interest
<br />Coverage
<br />2006
<br />$ 21,940,299
<br />$ 16,970,625
<br />$ 4,969,674
<br />$ 2,405,000
<br />$ 573,345
<br />1.67
<br />2007
<br />25,212,616
<br />19,212,200
<br />6,000,416
<br />1,045,000
<br />595,642
<br />3.66
<br />2008
<br />28,380,372
<br />22,562,437
<br />5,817,935
<br />1,330,000
<br />669,406
<br />2.91
<br />2009
<br />29,665,332
<br />23,654,659
<br />6,010,673
<br />1,000,000
<br />681,124
<br />3.58
<br />2010
<br />31,869,940
<br />25,849,033
<br />6,020,907
<br />3,785,000
<br />564,105
<br />1.38
<br />2011
<br />33,672,393
<br />27,326,836
<br />6,345,557
<br />1,335,000
<br />458,888
<br />3.54
<br />2012
<br />35,944,367
<br />28,444,321
<br />7,500,046
<br />1,950,000
<br />410,320
<br />3.18
<br />2013
<br />34,737,779
<br />28,629,356
<br />6,108,423
<br />1,505,000
<br />341,419
<br />3.31
<br />2014
<br />35,249,153
<br />29,806,010
<br />5,443,143
<br />3,940,000
<br />282,209
<br />1.29
<br />2015
<br />36,568,235
<br />30,281,264
<br />6,286,971
<br />900,000
<br />464,938
<br />4.61
<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.
<br />-154-
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