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CITY OF ELK RIVER
<br />MANAGEMENT'S DISCUSSION AND ANALYSIS
<br />ENDED DECEMBER 31, 2016
<br />At the end of the current fiscal year, the City of Elk River is able to report positive balances in all three
<br />categories of net position, both for the City as a whole, as well as for its separate governmental and
<br />business -type activities.
<br />Governmental activities. Governmental activities account for 48 percent of the City of Elk River's net
<br />position. Governmental activities decreased the City's net position by $2,182,273. Key elements of the
<br />relevant changes are as follows:
<br />• In 2016 the City accepted a donation of police equipment valued at over $660,000.
<br />• The increase in public safety reflects the adjustment to the pension liability.
<br />(15)
<br />Governmental Activities
<br />Business -Type Activities
<br />Total
<br />2016
<br />2015
<br />2016
<br />2015
<br />2016
<br />2015
<br />REVENUES
<br />Program Revenues:
<br />Charges for Services
<br />$ 2,883,489 $
<br />2,827,043
<br />$ 47,867,360
<br />$ 45,680,611
<br />$ 50,750,849
<br />$ 48,507,654
<br />Operating Grants and Contributions
<br />1,664,977
<br />1,033,338
<br />-
<br />-
<br />1,664,977
<br />1,033,338
<br />Capital Grants and Contributions
<br />1,333,057
<br />3,574,036
<br />1,685,129
<br />2,708,564
<br />3,018,186
<br />6,282,600
<br />General Revenues:
<br />-
<br />-
<br />Property Taxes
<br />11,136,310
<br />10,931,945
<br />-
<br />-
<br />11,136,310
<br />10,931,945
<br />Other Taxes
<br />1,552,499
<br />1,513,621
<br />-
<br />-
<br />1,513,621
<br />Unrestricted Investment Earnings
<br />311,469
<br />512,193
<br />167,849
<br />259,494
<br />479,318
<br />771,687
<br />Miscellaneous Revenue
<br />1,820,248
<br />1,642,098
<br />-
<br />-
<br />1,642,098
<br />Gain on Sale of Capital Assets
<br />29,695
<br />2,796,041
<br />1,050
<br />8,899
<br />30,745
<br />2,804,940
<br />Capital Contributions
<br />-
<br />-
<br />(26,551)
<br />-
<br />(26,551)
<br />-
<br />Total Revenues
<br />20,731,744
<br />24,830,315
<br />49,694,837
<br />48,657,568
<br />67,053,834
<br />(4,098,571)
<br />EXPENSES
<br />General Government
<br />3,996,317
<br />3,619,293
<br />-
<br />-
<br />3,996,317
<br />3,619,293
<br />Public Safety
<br />9,203,952
<br />6,720,283
<br />-
<br />9,203,952
<br />6,720,283
<br />Public Works
<br />5,439,492
<br />5,351,630
<br />40001115,439,492
<br />5,351,630
<br />Culture and Recreation
<br />4,014,737
<br />3,970,704
<br />4,014,737
<br />3,970,704
<br />Economic Development
<br />954,723
<br />959,414
<br />S" -
<br />954,723
<br />959,414
<br />Interest on Long -Term Debt
<br />996,933
<br />1,084,902
<br />-
<br />996,933
<br />1,084,902
<br />Municipal Liquor
<br />Sewer-
<br />-
<br />-
<br />-
<br />6,063,922
<br />2,473,139
<br />5,945,126
<br />2,318,709
<br />6,063,922
<br />2,473,139
<br />5,945,126
<br />2,318,709
<br />Garbage
<br />-
<br />-
<br />1,475,027
<br />1,382,890
<br />1,475,027
<br />1,382,890
<br />Storm Water
<br />-
<br />-
<br />645,596
<br />736,411
<br />645,596
<br />736,411
<br />Electric
<br />-
<br />32,190,114
<br />30,012,830
<br />32,190,114
<br />30,012,830
<br />Water
<br />-
<br />2,532,653
<br />2,478,904
<br />2,532,653
<br />2,478,904
<br />Total Expenses
<br />24,606,154
<br />21,706,226
<br />45,380,451
<br />42,874,870
<br />69,986,605
<br />2,899,928
<br />CHANGE IN NET POSITION BEFORE
<br />SPECIAL ITEM AND TRANSFERES
<br />(3,874,410)
<br />3,124,089
<br />4,314,386
<br />5,782,698
<br />(2,932,771)
<br />8,906,787
<br />Special Item
<br />-
<br />330,923
<br />-
<br />330,923
<br />-
<br />Transfers
<br />1,692,137
<br />(10,891,333)
<br />(1,692,137)
<br />10,891,333
<br />,%'(2,182,273)
<br />CHANGE IN NET POSITION
<br />(7,767,244)
<br />2,953,172
<br />16,674,031
<br />770,899
<br />8,906,787
<br />Net Position - Beginning of Year
<br />98,876,918
<br />106,644,162
<br />101,742,068
<br />85,068,037
<br />200,618,986
<br />191,712,199
<br />NET POSITION - END OF YEAR
<br />$ 96,694,645 $
<br />98,876,918
<br />$ 104,695,240
<br />$ 101,742,068
<br />$ 201,389,885
<br />$ 200,618,986
<br />Governmental activities. Governmental activities account for 48 percent of the City of Elk River's net
<br />position. Governmental activities decreased the City's net position by $2,182,273. Key elements of the
<br />relevant changes are as follows:
<br />• In 2016 the City accepted a donation of police equipment valued at over $660,000.
<br />• The increase in public safety reflects the adjustment to the pension liability.
<br />(15)
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