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The notes to the financial statements are an integral part of this statement.
<br />29
<br />Municipal Storm
<br />Liquor Garbage Sewer Water
<br />Sales and cost of sales:
<br /> Sales 6,947,768$ -$ -$ -$
<br /> Cost of sales (4,925,531) - - -
<br /> Gross profit 2,022,237 - - -
<br />Operating revenues:
<br /> User charges - 1,348,001 2,030,475 508,660
<br /> Delinquency collections - 3,783 581 705
<br /> Other 4,220 944 85,844 -
<br /> Total operating revenues 4,220 1,352,728 2,116,900 509,365
<br />Operating expenses:
<br /> Personal services 710,239 18,569 600,646 78,098
<br /> Supplies 13,563 16,049 212,455 188
<br /> Purchased power - - - -
<br /> Other service charges 262,454 1,487,185 734,675 243,691
<br /> Depreciation 119,186 - 1,568,622 452,828
<br /> Total operating expenses 1,105,442 1,521,803 3,116,398 774,805
<br />Operating income (loss)921,015 (169,075) (999,498) (265,440)
<br />Nonoperating revenues (expenses):
<br /> Interest income 44,010 8,153 68,069 510
<br /> Miscellaneous revenue - - - -
<br /> Interest expense - - (261,430) -
<br /> Grants - - 163,561 -
<br /> Gain on disposal of capital assets - - - -
<br /> Total nonoperating revenues (expenses)44,010 8,153 (29,800) 510
<br />Income (loss) before contributions and transfers 965,025 (160,922) (1,029,298) (264,930)
<br />Capital contributions - - 991,533 33,258
<br />Transfers in - 44,030 - -
<br />Transfers out (710,866) (46,150) (130,000) (15,000)
<br />Change in net position 254,159 (163,042) (167,765) (246,672)
<br />Net position - beginning 5,383,831 391,463 29,988,603 10,736,385
<br />Net position - ending 5,637,990$ 228,421$ 29,820,838$ 10,489,713$
<br />CITY OF ELK RIVER, MINNESOTA
<br />STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN NET POSITION
<br />PROPRIETARY FUNDS
<br />FOR THE YEAR ENDED DECEMBER 31, 2017
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