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CITY OF ELK RIVER
<br /> STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION
<br /> PROPRIETARY FUNDS
<br /> YEAR ENDED DECEMBER 31, 2016
<br /> Municipal
<br /> Liquor Sewer Garbage Storm Water Electric
<br /> SALES AND COST OF SALES
<br /> Sales $ 7,007,627 $ $ $ $
<br /> Cost of Sales (4,997,934)
<br /> Gross Profit 2,009,693
<br /> OPERATING REVENUE
<br /> User Charges $ - 1,917,991 1,332,910 475,046 $ 34,746,670
<br /> Delinquent Collections - 1,474 8,517 2,331 253,137
<br /> Other 1,947 1,725 1,473 - (535,411)
<br /> Total Operating Revenue 1,947 1,921,190 1,342,900 477,377 34,464,396
<br /> OPERATING EXPENSES
<br /> Personnel Services 670,303 581,334 18,356 85,917 2,853,048
<br /> Supplies 21,161 114,855 2,046 6,193 110,343
<br /> Purchased Power - - - - 23,991,069
<br /> Other Service Charges 253,424 532,855 1,454,625 102,017 2,867,046
<br /> Depreciation 121,100 983,689 - 447,535 2,005,093
<br /> Total Operating Expenses 1,065,988 2,212,733 1,475,027 641,662 31,826,599
<br /> OPERATING INCOME(LOSS) 945,652 (291,543) (132,127) (164,285) 2,637,797
<br /> NONOPERATING REVENUE(EXPENSES)
<br /> Connection and Other Fees - 587,300 - -
<br /> Investment Earnings 287 48,005 3,836 90,804
<br /> Interest Expense - - - (198,194)
<br /> Gain(Loss)on Disposal of Capital Asset (260,406) (3,934) (80,126)
<br /> Miscellaneous Revenue 102,993 - 281,702
<br /> Bond Issuance Costs - - - 0.00 (85,195)
<br /> Total Nonoperating Revenue(Expenses) 287 477,892 3,836 (3,934) 8,991
<br /> INCOME(LOSS)BEFORE CONTRIBUTIONS
<br /> AND TRANSFERS 945,939 186,349 (128,291) (168,219) 2,646,788
<br /> Capital Grants and Contributions - 636,152 -
<br /> Capital Contributions to Other Funds - - (99,553)
<br /> Transfers In 27,716
<br /> Transfers Out (704,567) (119,255) (45,000) (61,744) (1,089,287)
<br /> Total Contributions and Transfers (704,567) 516,897 (17,284) (161,297) (1,089,287)
<br /> CHANGE IN NET POSITION BEFORE SPECIAL ITEM 241,372 703,246 (145,575) (329,516) 1,557,501
<br /> Special Item - - 330,923
<br /> CHANGE IN NET POSITION 241,372 703,246 (145,575) (329,516) 1,888,424
<br /> NET POSITION
<br /> Beginning of Year 5,142,459 29,285,357 537,038 11,065,901 32,635,676
<br /> End of Year $ 5,383,831 $ 29,988,603 $ 391,463 $ 10,736,385 $ 34,524,100
<br /> See accompanying Notes to Basic Financial Statements.
<br /> (30)
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