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CITY OF ELK RIVER
<br /> ENTERPRISE FUNDS-BUDGET TO ACTUAL
<br /> MONTH ENDED JULY,2016
<br /> Liquor', Sewer Garbage, Stormwater,
<br /> Current Year to Date Budget %of 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 Budget Actual Variance Budget
<br /> Sales and cost of sales:
<br /> Sales $ 6,934,000 $ 3,877,332 $ 3,056,668 55.92%
<br /> Cost of sales (4,957,300) (2,374,997) (2,582,303) 47.91%
<br /> Gross profit 1,976,700 1,502,335 474,365 76.00%
<br /> Operating revenues:
<br /> User charges $ - $ - $ - 0.00% $ 1,860,000 $ 937,471 $ 922,529 50.40% $ 1,310,000 $ 668,010 $ 641,990 50.99% $ 420,000 $ 224,938 $ 195,062 53.56%
<br /> Delinquency collections - - - 0.00% 1,300 1,479 (179) 113.77% 13,000 4,584 8,416 35.26% - 544 (544) 0.00%
<br /> Other 1,700 1,347 353 79.24% 2,000 - 2,000 0.00% 3,500 1,188 2,312 33.94% - 11 (11) 0.00%
<br /> Total operating revenues 1,700 1,347 353 79.24% 1,863,300 938,950 924,350 50.39% 1,326,500 673,782 652,718 50.79% 420,000 225,493 194,507 53.69%
<br /> Operating expenses:
<br /> Personal services 659,850 371,844 288,006 56.35% 532,650 297,833 234,817 55.92% 22,900 12,509 10,391 54.62% 80,650 44,734 35,916 55.47%
<br /> Supplies 53,700 11,580 42,120 21.56% 217,800 35,809 181,991 16.44% 6,300 1,992 4,308 31.62% 7,000 90 6,910 1.29%
<br /> Other service charges 231,950 115,304 116,646 49.71% 517,200 280,481 236,719 54.23% 1,340,700 711,468 629,232 53.07% 403,150 85,610 317,540 21.24%
<br /> Depreciation* 123,000 - 123,000 0.00% 1,424,350 - 1,424,350 0.00% - - - 0.00% 433,750 - 433,750 0.00%
<br /> Total operating expenses 1,068,500 498,728 569,772 46.68% 2,692,000 614,123 2,077,877 22.81% 1,369,900 725,969 643,931 52.99% 924,550 130,434 794,116 14.11%
<br /> Operating income(loss) 909,900 1,004,954 (95,054) 110.45% (828,700) 324,827 (1,153,527) -39.20% (43,400) (52,187) 8,787 120.25% (504,550) 95,059 (599,609) -18.84%
<br /> Nonoperating revenues(expenses):
<br /> Interest income 25,000 27,770 (2,770) 111.08% 80,000 51,205 28,795 64.01% 6,250 4,644 1,606 74.30% 1,500 2,053 (553) 136.87%
<br /> Grant revenue - - - 0.00% 800,000 255,023 544,977 31.88% - - - 0.00% - - - 0.00%
<br /> Interest expense - - - 0.00% (272,400) (23,033) (249,367) 8.46% - - - 0.00% - - - 0.00%
<br /> Total nonoperating revenues(expenses) 25,000 27,770 (2,770) 111.08% 607,600 283,195 324,405 46.61% 6,250 4,644 1,606 74.30% 1,500 2,053 (553) 136.87%
<br /> Income(loss)before contributions and transfers 934,900 1,032,724 (97,824) 110.46% (221,100) 608,022 (829,122) -275.00% (37,150) (47,543) 10,393 127.98% (503,050) 97,112 (600,162) -19.30%
<br /> Contributions-connection fees - - - 0.00% 492,700 270,553 222,147 54.91% - - - 0.00% 51,500 10,704 40,796 20.78%
<br /> Sale of assets - - - 0.00% - 36,500 (36,500) 0.00% - - - 0.00% - - - 0.00%
<br /> Transfers in - - - 0.00% - - - 0.00% 36,600 - 36,600 0.00% - - - 0.00%
<br /> Transfers out (718,950) (704,567) (14,383) 98.00% (100,000) (100,000) - 100.00% (45,000) (45,000) - 100.00% (5,000) (5,000) - 0.00%
<br /> NET INCOME(LOSS) 215,950 328,157 112,207 151.96% 171,600 815,075 (643,475) 474.99% 45,550 92,543 46,993 203.17% 4569550 102,816 559,366 -22.52%
<br /> Items reclassified to balance sheet at year end:
<br /> Capital Outlay (5,012,000) (2,083,142) (2,928,858) 41.56%
<br /> Bond Payment (400,000) (400,000) - 100.00%
<br /> Revenues over/(under)expenditures 215,950 328,157 (112,207) (5,240,400) (1,668,067) (3,572,333) (45,550) (92,543) 46,993 (456,550) 102,816 (559,366)
<br /> *Recorded ar yearend
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