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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 Business-Type Activities Total
<br /> 2016 2015 2016 2015 2016 2015
<br /> REVENUES
<br /> Program Revenues:
<br /> Charges for Services $ 2,883,489 $ 2,827,043 $ 47,867,360 $ 45,680,611 $ 50,750,849 $ 48,507,654
<br /> Operating Grants and Contributions 1,692,517 1,033,338 - - 1,692,517 1,033,338
<br /> Capital Grants and Contributions 1,333,057 3,574,036 1,758,131 2,708,564 3,091,188 6,282,600
<br /> General Revenues: - -
<br /> Property Taxes 11,136,310 10,931,945 - - 11,136,310 10,931,945
<br /> Other Taxes 1,552,499 1,513,621 - - 1,552,499 1,513,621
<br /> Unrestricted Investment Earnings 311,469 512,193 167,849 259,494 479,318 771,687
<br /> Miscellaneous Revenue 1,820,248 1,642,098 - - 1,820,248 1,642,098
<br /> Gain on Sale of Capital Assets 29,695 2,796,041 1,050 8,899 30,745 2,804,940
<br /> Total Revenues 20,759,284 24,830,315 49,794,390 48,657,568 70,553,674 (4,071,031)
<br /> EXPENSES
<br /> General Government 3,996,316 3,619,293 - - 3,996,316 3,619,293
<br /> Public Safety 9,231,492 6,720,283 9,231,492 6,720,283
<br /> Public Works 5,539,045 5,351,630 5,539,045 5,351,630
<br /> Culture and Recreation 4,014,737 3,970,704 4,014,737 3,970,704
<br /> Economic Development 954,723 959,414 954,723 959,414
<br /> Interest on Long-Term Debt 996,933 1,084,902 - - 996,933 1,084,902
<br /> Municipal Liquor - - 6,063,922 5,945,126 6,063,922 5,945,126
<br /> Sewer 2,473,139 2,318,709 2,473,139 2,318,709
<br /> Garbage 1,475,027 1,382,890 1,475,027 1,382,890
<br /> Storm Water 645,596 736,411 645,596 736,411
<br /> Electric 32,190,114 30,012,830 32,190,114 30,012,830
<br /> Water 2,532,653 2,478,904 2,532,653 2,478,904
<br /> Total Expenses 24,733,246 21,706,226 45,380,451 42,874,870 70,113,697 3,027,020
<br /> CHANGE IN NET POSITION BEFORE
<br /> SPECIAL ITEM AND TRANSFERES (3,973,962) 3,124,089 4,413,939 5,782,698 439,977 8,906,787
<br /> Special Item - - 330,923 - 330,923 -
<br /> Transfers and Contributions 1,791,690 (10,891,333) (1,791,690) 10,891,333 - -
<br /> CHANGE IN NET POSITION (2,182,272) (7,767,244) 2,953,172 16,674,031 770,900 8,906,787
<br /> Net Position-Beginning of Year 98,876,918 106,644,162 101,742,068 85,068,037 200,618,986 191,712,199
<br /> NET POSITION-END OF YEAR $ 96,694,646 $ 98,876,918 $104,695,240 $101,742,068 $201,389,886 $200,618,986
<br /> Governmental activities. Governmental activities account for 48% 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 /> (16)
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