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<br />City of Elk River
<br />
<br />2004 Annual Report
<br />
<br />LIQUOR
<br />
<br />TRANSFERS
<br />
<br />Year
<br />
<br />2002
<br />
<br />2003
<br />
<br />2004
<br />
<br />General Fund 120,000 145,000 195,000
<br />City Hall Debt Service 38,300 38,300 38,300
<br />Ice Arena 232,268
<br />Total 158,300 183,300 465,568
<br />
<br />COMPARISON
<br />
<br />2002
<br />
<br />2003
<br />
<br />(Unaudited)
<br />2004
<br />
<br />Net Profit
<br />
<br />4,072,018 4,152,235 4,341,148
<br />2,997,847 3.040,286 3,160,094
<br />1,074,171 26.4% 1,111,949 26.8% 1,181,054 27.2%
<br />599,892 14.7% 580,802 14% 600,062 13.8%
<br />474,279 11.6% 531,147 12.8% 580,992 13.4%
<br />60,000 28,273 35,529
<br />534,279 13.1% 559,420 13.5% 616,521 14.2%
<br />( 158,300) ( 183,300) (465,568)
<br />375,979 9.2% 376,120 9% 150,953 3.5%
<br />
<br />Sales
<br />Cost of Sales
<br />Gross Profit
<br />
<br />Operating Expenses
<br />
<br />Other Income
<br />Total Net Profit
<br />Transfer
<br />Net Income
<br />(after transfers)
<br />
<br />Percent of Sales 2002 2003 2004
<br />Liquor I, 195,260 29% 1,273,487 31% 1,337,342 31%
<br />Beer 2,039,362 50% 2,025,294 49% 2,081,648 48%
<br />Wine 627,952 15% 654,515 16% 734,185 17%
<br />Misc. 209,088 5% 198,619 5% 187,972 4%
<br />Labor Cost as a % of Sales 8.2% 8.4% 8.5%
<br />
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