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128
<br />Net
<br />Fiscal Gross Operating Revenue Debt Service
<br />Year Revenue 2 Expenses 3 Available Principal Interest Coverage
<br />2008 28,380,372$ 22,562,437$ 5,817,935$ 1,330,000$ 669,406$ 2.91
<br />2009 29,665,332 23,654,659 6,010,673 1,000,000 681,124 3.58
<br />2010 31,869,940 25,849,033 6,020,907 3,785,000 564,105 1.38
<br />2011 33,672,393 27,326,836 6,345,557 1,335,000 458,888 3.54
<br />2012 35,944,367 28,444,321 7,500,046 1,950,000 410,320 3.18
<br />2013 34,737,779 28,629,356 6,108,423 1,505,000 341,419 3.31
<br />2014 35,249,153 29,806,010 5,443,143 3,940,000 282,209 1.29
<br />2015 36,586,235 30,281,264 6,286,971 900,000 464,938 4.61
<br />2016 38,559,107 32,376,907 6,182,200 2,860,000 183,634 2.03
<br />2017 40,563,969 34,509,407 6,054,562 1,355,000 673,662 2.98
<br /> Note: Details regarding the government's outstanding debt can be found in the notes to the financial statements.
<br />1 Includes Liquor, Sewer, Water and Electric revenue bonds
<br />2 Gross revenue excludes interest income, connection fees and miscellaneous revenues
<br />3 Expenses exclude depreciation, interest on bonds and miscellaneous expenses
<br />4 Excludes $1,540,000 refunded principal paid through cash with fiscal agent.
<br />Revenue Bonds 1
<br />CITY OF ELK RIVER, MINNESOTA
<br />PLEDGED-REVENUE COVERAGE
<br />LAST TEN FISCAL YEARS
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