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CITY OF ELK RIVER
<br />PLEDGED -REVENUE COVERAGE - LAST TEN FISCAL YEARS
<br />Revenue Bonds'
<br />Net
<br />Fiscal
<br />Gross
<br />Operating
<br />Revenue
<br />Debt Service
<br />Year
<br />Revenue 2
<br />Expenses3
<br />Available
<br />Principal
<br />Interest
<br />Coverage
<br />2010
<br />$ 31,869,940
<br />$ 25,849,033
<br />$ 6,020,907 $
<br />3,785,000
<br />$ 564,105
<br />1.38
<br />2011
<br />33,672,393
<br />27,326,836
<br />6,345,557
<br />1,335,000
<br />458,888
<br />3.54
<br />2012
<br />35,944,367
<br />28,444,321
<br />7,500,046
<br />1,950,000
<br />410,320
<br />3.18
<br />2013
<br />34,737,779
<br />28,629,356
<br />6,108,423
<br />1,505,000
<br />341,419
<br />3.31
<br />2014
<br />35,249,153
<br />29,806,010
<br />5,443,143
<br />3,940,000
<br />282,209
<br />1.29
<br />2015
<br />36,586,235
<br />30,281,264
<br />6,286,971
<br />900,000
<br />464,938
<br />4.61
<br />2016
<br />38,559,107
<br />32,376,907
<br />6,182,200
<br />2,860,000
<br />183,634
<br />2.03
<br />2017
<br />40,563,969
<br />34,509,407
<br />6,054,562
<br />1,355,000
<br />673,662
<br />2.98
<br />2018
<br />43,542,520
<br />35,946,427
<br />7,596,093
<br />1,390,000
<br />627,528
<br />3.77
<br />2019
<br />42,779,016
<br />34,245,577
<br />8,533,439
<br />1,620,000
<br />924,005
<br />3.35
<br />Note: Details regarding the government's outstanding debt can be found in the notes to the financial statements.
<br />' Includes Liquor, Sewer, Water and Electric revenue bonds
<br />2 Gross revenue excludes interest income, connection fees and miscellaneous revenues
<br />3 Expenses exclude depreciation, interest on bonds and miscellaneous expenses
<br />4 Excludes $1,540,000 refunded principal paid through cash with fiscal agent.
<br />(137)
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