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CITY OF ELK RIVER
<br /> ENTERPRISE FUNDS-BUDGET TO ACTUAL
<br /> MONTH ENDED AUGUST,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 $ 4,483,399 $ 2,450,601 64.66%
<br /> Cost of sales (4,957,300) (2,883,697) (2,073,603) 58.17%
<br /> Gross profit 1,976,700 1,599,702 376,998 80.93%
<br /> Operating revenues:
<br /> User charges $ - $ - $ - 0.00% $ 1,860,000 $ 1,103,415 $ 756,585 59.32% $ 1,310,000 $ 780,570 $ 529,430 59.59% $ 420,000 $ 262,640 $ 157,360 62.53%
<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 1,647 53 96.88% 2,000 - 2,000 0.00% 3,500 1,331 2,169 38.03% - 11 (11) 0.00%
<br /> Total operating revenues 1,700 1,647 53 96.88% 1,863,300 1,104,894 758,406 59.30% 1,326,500 786,485 540,015 59.29% 420,000 263,195 156,805 62.67%
<br /> Operating expenses:
<br /> Personal services 659,850 422,423 237,427 64.02% 532,650 338,066 194,584 63.47% 22,900 14,318 8,582 62.52% 80,650 51,009 29,641 63.25%
<br /> Supplies 53,700 12,659 41,041 23.57% 217,800 47,118 170,682 21.63% 6,300 2,046 4,254 32.48% 7,000 90 6,910 1.29%
<br /> Other service charges 231,950 151,293 80,657 65.23% 517,200 322,051 195,149 62.27% 1,340,700 836,875 503,825 62.42% 403,150 87,653 315,497 21.74%
<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 1,068,500 586,375 482,125 54.88% 2,692,000 707,235 1,984,765 26.27% 1,369,900 853,239 516,661 62.28% 924,550 138,752 785,798 15.01%
<br /> Operating income(loss) 909,900 1,014,974 (105,074) 111.55% (828,700) 397,659 (1,226,359) -47.99% (43,400) (66,754) 23,354 153.81% (504,550) 124,443 (628,993) -24.66%
<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% 800,000 339,728 460,272 42.47% - - - 0.00% - - - 0.00%
<br /> Interest expense - - - 0.00% (272,400) (157,236) (115,164) 57.72% - - - 0.00% - - - 0.00%
<br /> Total nonoperating revenues(expenses) 25,000 27,770 (2,770) 111.08% 607,600 233,697 373,903 38.46% 6,250 4,644 1,606 74.30% 1,500 2,053 (553) 136.87%
<br /> Income(loss)before contributions and transfers 934,900 1,042,744 (107,844) 111.54% (221,100) 631,356 (852,456) -285.55% (37,150) (62,110) 24,960 167.19% (503,050) 126,496 (629,546) -25.15%
<br /> Contributions-connection fees - - - 0.00% 492,700 299,053 193,647 60.70% - - - 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) - 100.00%
<br /> NET INCOME(LOSS) 215,950 338,177 122,227 156.60% 171,600 866,909 (695,309) 505.19% 45,550 107,110 61,560 235.15% 4569550 132,200 588,750 -28.96%
<br /> Items reclassified to balance sheet at year end:
<br /> Capital Outlay (5,012,000) (2,509,757) (2,502,243) 50.07%
<br /> Bond Payment (400,000) (400,000) - 100.00%
<br /> Revenues over/(under)expenditures 215,950 338,177 (122,227) (5,240,400) (2,042,848) (3,197,552) (45,550) (107,110) 61,560 (456,550) 132,200 (588,750)
<br /> *Recorded at yearend
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