|
CITY OF ELK RIVER
<br />MANAGEMENT'S DISCUSSION AND ANALYSIS
<br />YEAR ENDED DECEMBER 31, 2019
<br />At the end of the current fiscal year, the City of Elk River is able to report positive balances in all three
<br />categories of net position, both for the City as a whole, as well as for its separate governmental and
<br />business -type activities.
<br />REVENUES
<br />Program Revenues:
<br />Charges for Services
<br />Operating Grants and Contributions
<br />Capital Grants and Contributions
<br />General Revenues:
<br />Property Taxes
<br />Other Taxes
<br />Unrestricted Investment Earnings
<br />Grants and Contributions Not Restricted
<br />Gain on Sale of Capital Assets
<br />Total Revenues
<br />EXPENSES
<br />General Government
<br />Public Safety
<br />Public Works
<br />Culture and Recreation
<br />Economic Development
<br />Interest on Long -Term Debt
<br />Municipal Liquor
<br />Sewer
<br />Garbage
<br />Storm Water
<br />Electric
<br />Water
<br />Total Expenses
<br />CHANGE IN NET POSITION BEFORE
<br />TRANSFERS
<br />Governmental Activities
<br />2019
<br />2018
<br />Business -Type Activities
<br />2019 2018
<br />Total
<br />2019 2018
<br />$ 2,995,949
<br />$ 3,143,111
<br />$ 53,372,888
<br />$ 53,452,010
<br />$ 56,368,837
<br />$ 56,595,121
<br />1,396,313
<br />1,381,151
<br />1,200
<br />-
<br />1,397,513
<br />1,381,151
<br />1,509,650
<br />1,721,638
<br />1,277,596
<br />2,295,004
<br />2,787,246
<br />4,016,642
<br />13,022,991
<br />12,192,911
<br />-
<br />-
<br />13,022,991
<br />12,192,911
<br />2,288,998
<br />1,591,663
<br />-
<br />-
<br />2,288,998
<br />1,591,663
<br />1,420,677
<br />430,642
<br />704,099
<br />467,294
<br />2,124,776
<br />897,936
<br />2,588,461
<br />1,754,373
<br />-
<br />-
<br />2,588,461
<br />1,754,373
<br />41,698
<br />-
<br />8,280
<br />2,462
<br />49,978
<br />2,462
<br />25,264,737
<br />22,215,489
<br />55,364,063
<br />56,216,770
<br />80,628,800
<br />78,432,259
<br />3,786,257
<br />3,981,134
<br />-
<br />-
<br />3,786,257
<br />3,981,134
<br />9,188,562
<br />7,398,041
<br />9,188,562
<br />7,398,041
<br />5,920,022
<br />5,619,836
<br />5,920,022
<br />5,619,836
<br />4,094,690
<br />4,474,619
<br />4,094,690
<br />4,474,619
<br />540,497
<br />969,443
<br />540,497
<br />969,443
<br />979,755
<br />486,630
<br />-
<br />-
<br />979,755
<br />486,630
<br />-
<br />-
<br />6,772,414
<br />6,233,700
<br />6,772,414
<br />6,233,700
<br />3,550,622
<br />3,504,489
<br />3,550,622
<br />3,504,489
<br />1,456,482
<br />1,588,956
<br />1,456,482
<br />1,588,956
<br />1,024,928
<br />634,073
<br />1,024,928
<br />634,073
<br />35,200,295
<br />35,680,220
<br />35,200,295
<br />35,680,220
<br />-
<br />-
<br />2,703,390
<br />2,666,149
<br />2,703,390
<br />2,666,149
<br />24,509,783
<br />22,929,703
<br />50,708,131
<br />50,307,587
<br />75,217,914
<br />73,237,290
<br />754,954
<br />(714,214)
<br />4,655,932
<br />5,909,183
<br />5,410,886
<br />5,194,969
<br />Transfers and Contributions
<br />2,085,300
<br />2,063,638
<br />(2,085,300)
<br />(2,063,638)
<br />CHANGE IN NET POSITION
<br />2,840,254
<br />1,349,424
<br />2,570,632
<br />3,845,545 5,410,886 5,194,969
<br />Net Position - Beginning of Year
<br />99,013,559
<br />97,664,135
<br />110,674,754
<br />106,829,209 209,688,313 204,493,344
<br />NET POSITION - END OF YEAR
<br />$ 101,853,813
<br />$ 99,013,559
<br />$ 113,245,386
<br />$ 110,674,754 $ 215,099,199 $ 209,688,313
<br />Governmental activities. Governmental activities account for 47% of the City of Elk River's net
<br />position. Governmental activities increased the City's net position by $2,840,254. Key elements of the
<br />relevant changes are as follows:
<br />• $697,335 increase in other taxes related to the implementation of a local sales tax in
<br />2019 to fund park and recreation improvements.
<br />• $830,080 increase in property taxes related to the increase in the tax levy.
<br />• $990,035 increase in unrestricted investment earning due to 2019 being a better
<br />investing year than 2018 for the types of investment held by the City.
<br />• $834,088 increase in grants and contributions not restricted related to increased landfill
<br />fees resulting from the closure of the garbage burning facility.
<br />(15)
<br />
|