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Elk River Municipal Utilities
<br /> Elk River, Minnesota
<br /> Statement of Revenues, Expenses and Changes in Net Position
<br /> For the Year Ended December 31, 2018
<br /> Electric Water Total
<br /> Operating Revenues
<br /> Charges for services $ 37,910,780 $ 2,445,688 $ 40,356,468
<br /> LFG project 1,128,793 - 1,128,793
<br /> Generation credit (729,208) - (729,208)
<br /> Connection maintenance 269,787 52,052 321,839
<br /> Customer penalties 199,753 18,081 217,834
<br /> Total Operating Revenues 38,779,905 2,515,821 41,295,726
<br /> Operating Expenses
<br /> Purchased power 26,710,514 - 26,710,514
<br /> Production 1,002,064 537,719 1,539,783
<br /> Distribution 1,658,167 232,576 1,890,743
<br /> Depreciation 2,297,349 1,193,745 3,491,094
<br /> Customer accounts 442,701 37,969 480,670
<br /> General and administrative 3,090,611 622,275 3,712,886
<br /> Total Operating Expenses 35,201,406 2,624,284 37,825,690
<br /> Operating Income(Loss) 3,578,499 (108,463) 3,470,036
<br /> Nonoperating Revenues (Expenses)
<br /> Interest income 330,110 25,334 355,444
<br /> Miscellaneous revenue 372,253 241,416 613,669
<br /> Interest expense and other (478,814) (41,865) (520,679)
<br /> Gain (loss)on sale of capital assets (4,963) 7,425 2,462
<br /> Total Nonoperating Revenues 218,586 232,310 450,896
<br /> Income before Contributions and Transfers 3,797,085 123,847 3,920,932
<br /> Capital Contributions -
<br /> Connection Fees - 716,810 716,810
<br /> Contribution from Customers 352,104 - 352,104
<br /> Transfers to Other City Funds (1,188,664) - (1,188,664)
<br /> Total Contributions and Transfers (836,560) 716,810 (119,750)
<br /> Change in Net Position 2,960,525 840,657 3,801,182
<br /> Net Position, January 1 36,491,274 24,201,051 60,692,325
<br /> Net Position, December 31 $ 39,451,799 $ 25,041,708 $ 64,493,507
<br /> The notes to the financial statements are an integral part of this statement.
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