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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, 2018
<br />Operating expenses:
<br />Personal services
<br />Supplies
<br />Purchased power
<br />Other service charges
<br />Depreciation
<br />Total operating expenses
<br />Operating income (loss)
<br />Nonoperating revenues (expenses):
<br />Interest income
<br />Miscellaneous revenue
<br />Interest expense
<br />Gain (loss) on disposal of capital assets
<br />Total nonoperating revenues (expenses)
<br />Income (loss) before contributions and transfers
<br />Capital contributions
<br />Transfers in
<br />Transfers out
<br />Change in net position
<br />Net position - beginning, as restated (Note 15)
<br />Net position - ending
<br />716,243
<br />Municipal
<br />536,657
<br />95,117
<br />Storm
<br />16,169
<br />Liquor
<br />Garbage
<br />Sewer
<br />Water
<br />Sales and cost of sales:
<br />81,304
<br />119,186
<br />-
<br />1,639,461
<br />Sales
<br />$ 7,201,031
<br />$
<br />$
<br />$
<br />Cost of sales
<br />(5,119,654)
<br />(1,004,498)
<br />(148,589)
<br />Gross profit
<br />2,081,377
<br />4,865
<br />48,050
<br />3,700
<br />Operating revenues:
<br />-
<br />54,634
<br />-
<br />User charges
<br />-
<br />1,550,274
<br />2,116,555
<br />485,087
<br />Delinquency collections
<br />-
<br />2,674
<br />1,242
<br />397
<br />Other
<br />2,124
<br />550
<br />128,997
<br />-
<br />Total operating revenues
<br />2,124
<br />1,553,498
<br />2,246,794
<br />485,484
<br />Operating expenses:
<br />Personal services
<br />Supplies
<br />Purchased power
<br />Other service charges
<br />Depreciation
<br />Total operating expenses
<br />Operating income (loss)
<br />Nonoperating revenues (expenses):
<br />Interest income
<br />Miscellaneous revenue
<br />Interest expense
<br />Gain (loss) on disposal of capital assets
<br />Total nonoperating revenues (expenses)
<br />Income (loss) before contributions and transfers
<br />Capital contributions
<br />Transfers in
<br />Transfers out
<br />Change in net position
<br />Net position - beginning, as restated (Note 15)
<br />Net position - ending
<br />716,243
<br />25,887
<br />536,657
<br />95,117
<br />15,850
<br />16,169
<br />244,354
<br />174
<br />262,767
<br />1,546,900
<br />830,820
<br />81,304
<br />119,186
<br />-
<br />1,639,461
<br />457,478
<br />1,114,046
<br />1,588,956
<br />3,251,292
<br />634,073
<br />969,455
<br />(35,458)
<br />(1,004,498)
<br />(148,589)
<br />55,235
<br />4,865
<br />48,050
<br />3,700
<br />-
<br />-
<br />54,634
<br />-
<br />(253,197)
<br />55,235
<br />4,865
<br />(150,513)
<br />3,700
<br />1,024,690
<br />(30,593)
<br />(1,155,011)
<br />(144,889)
<br />- 1,188,777 37,313
<br />45,000 - -
<br />(689,174) (46,750) (150,000) (35,000)
<br />335,516 (32,343) (116,234) (142,576)
<br />5,618,978 228,421 29,801,020 10,488,465
<br />$ 5,954,494 $ 196,078 $ 29,684,786 $ 10,345,889
<br />The notes to the fmancial statements are an integral part of this statement.
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