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14
<br />2017 2016 2017 2016 2017 2016
<br />Revenues:
<br />Program revenues:
<br />Charges for services 3,544,605$ 2,883,489$ 49,950,014$ 47,867,360$ 53,494,619$ 50,750,849$
<br />Operating grants and contributions 1,319,377 1,692,517 - - 1,319,377 1,692,517
<br />Capital grants and contributions 3,187,830 1,333,057 2,196,626 1,758,131 5,384,456 3,091,188
<br />General revenues:
<br />Property taxes 11,645,328 11,136,310 - - 11,645,328 11,136,310
<br />Other taxes 1,543,086 1,552,499 - - 1,543,086 1,552,499
<br />Unrestricted investment earnings 498,235 311,469 231,599 167,849 729,834 479,318
<br />Miscellaneous revenue 1,720,932 1,820,248 - - 1,720,932 1,820,248
<br />Gain on disposal of capital assets 116,012 29,695 17,500 1,050 133,512 30,745
<br />Total revenues 23,575,405 20,759,284 52,395,739 49,794,390 75,971,144 70,553,674
<br />Expenses:
<br />General government 3,932,100 3,996,316 - - 3,932,100 3,996,316
<br />Public safety 7,670,839 9,231,492 - - 7,670,839 9,231,492
<br />Public works 6,803,504 5,539,045 - - 6,803,504 5,539,045
<br />Culture and recreation 4,157,960 4,014,737 - - 4,157,960 4,014,737
<br />Economic development 1,221,761 954,723 - - 1,221,761 954,723
<br />Interest on long-term debt 549,303 996,933 - - 549,303 996,933
<br />Municipal liquor - - 6,030,973 6,063,922 6,030,973 6,063,922
<br />Garbage - - 1,521,803 1,475,027 1,521,803 1,475,027
<br />Sewer - - 3,377,828 2,473,139 3,377,828 2,473,139
<br />Storm Water - - 774,805 645,596 774,805 645,596
<br />Water - - 2,856,343 2,532,653 2,856,343 2,532,653
<br />Electric - - 33,688,690 32,190,114 33,688,690 32,190,114
<br />Total expenses 24,335,467 24,733,246 48,250,442 45,380,451 72,585,909 70,113,697
<br />Change in net position before
<br />special item and transfers (760,062) (3,973,962) 4,145,297 4,413,939 3,385,235 439,977
<br />Special item - - - 330,923 - 330,923
<br />Transfers 1,971,250 1,791,690 (1,971,250) (1,791,690) - -
<br />Change in net position 1,211,188 (2,182,272) 2,174,047 2,953,172 3,385,235 770,900
<br />Net position - beginning 96,694,646 98,876,918 104,695,240 101,742,068 201,389,886 200,618,986
<br />Net position - ending 97,905,834$ 96,694,646$ 106,869,287$ 104,695,240$ 204,775,121$ 201,389,886$
<br />Activities Activities Total
<br />City of Elk River Changes in Net Position
<br />Governmental Business-type
<br />Governmental activities. Governmental activities account for 48 percent of the City of Elk River’s net position.
<br />Governmental activities increased the City’s net position by $1,211,188. Key elements of the relevant changes are as
<br />follows:
<br />•In 2017, the City received $2.7 million from the State for reimbursement of street improvement
<br />projects.
<br />•The increase in charges for services reflects the increase in building activity experienced in 2017.
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