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CITY OF ELK RIVER <br />MANAGEMENT'S DISCUSSION AND ANALYSIS <br />YEAR ENDED DECEMBER 31, 2019 <br />Business -type activities. Business -type activities increased the City of Elk River's net position by <br />$2,570,632 in 2019 as compared to an increase in net position of $3,845,545 in 2018. Key elements of <br />this decrease in net income are as follows: <br />• Capital grants and contributions decreased $1,017,408 due to utility connection fees related to <br />building activity in 2019. <br />• Investment earnings increased $236,805 due to 2019 being a better investing year than 2018 <br />for the types of investment held by the City. <br />• Liquor fund operating expenses increased $538,714 due to inventory purchases related to <br />increased liquor sales. <br />• Garbage fund operating expenses decreased $132,474 due to a reduction in waste disposal <br />fees. <br />• Stormwater fund operating expenses increased $390,855 due to storm water pond maintenance <br />projects conducted every other year. <br />• Electric fund operating expenses decreased $479,925 due to purchased power expenses <br />decreased 7%. <br />Expenses and Program Revenues - Business -Type Activities <br />$40,000,000 <br />$35,000,000 <br />$3 0, 00 0, 00 0 <br />$25,000,000 <br />$2 0, 00 0, 00 0 <br />$15, 00 0, 00 0 <br />$10,000,000 <br />$5,000,000 <br />$0 • <br />Municipal Liquor Sewer Garbage <br />Revenues <br />Storm Water <br />Electric <br />Water <br />■ Expenses <br />(17) <br />