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Business -type Activities. Business -type activities increased the City of Elk River's net position by $3,845,545. Key <br />elements of this increase are as follows: <br />• Charges for services for business -type activities increased $3.5 million due largely to an increase in electric <br />revenues impacted by increased electric usage due in part by territory acquisition. The electric utility accounts <br />for 73% of the total charges for services. <br />• Garbage rates were restructured and increased an average of 10% to offset the increased garbage hauling and <br />disposal fees. <br />• Investment income increased $235,695 during 2018 due to investment market conditions. <br />Expenses and ProgramRevenues - Business -type Activities <br />$45,000,000 <br />$40,000,000 <br />$35,000,000 <br />$30,000,000 <br />$25,000,000 — $20,000,000 <br />$15,000,000 <br />$10,000,000 <br />$5,000,000 <br />Municipal liquor Garbage Sewer Storm Water Water Electric <br />■ Revenues ■ Expenses <br />Revenues by Source - Business -type Activities <br />Unrestricted <br />in ,,,trr t -i- Gain on disnosalof <br />95.0% <br />