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CITY OF ELK RIVER, MINNESOTA
<br />Elk River Municipal Utilities - Electric System
<br />Statement of Revenues, Expenses, and Changes in Net Position
<br />For Fiscal Years ended December 31
<br />20152016201720182019
<br />OPERATING REVENUES
<br />User Charges$ 32,951,267$ 34,746,670$ 36,458,061$ 39,039,573$ 37,640,985
<br />Delinquency Collections238,339253,137242,739199,753254,553
<br />Other(642,384)(535,411)(579,976)(459,421)199,095
<br /> Total Operating Revenues$ 32,547,222$ 34,464,396$ 36,120,824$ 38,779,905$ 38,094,633
<br />OPERATING EXPENSES
<br />Personal Services$ 2,344,264$ 2,853,048$ 2,712,070$ 2,615,460$ 3,199,774
<br />Supplies197,014110,343106,500124,830131,546
<br />Purchased Power22,034,30723,991,06925,402,57626,710,51424,851,301
<br />Other Service Charges3,398,2102,867,0463,126,3903,453,2533,516,207
<br />Depreciation1,922,3592,005,0932,046,9352,297,3492,856,258
<br /> Total Operating Expense$ 29,896,154$ 31,826,599$ 33,394,471$ 35,201,406$ 34,555,086
<br />OPERATING INCOME (LOSS)$ 2,651,068$ 2,637,797$ 2,726,353$ 3,578,499$ 3,539,547
<br />NONOPERATING REVENUES (EXPENSES)
<br />Interest Income$ 95,533$ 90,804$ 79,543$ 330,110$ 159,014
<br />Miscellaneous Revenue283,987281,702344,558371,303568,635
<br />Interest Expense(116,676)(198,194)(294,219)(478,814)(643,159)
<br />Bond Issuance Costs-(85,195)---
<br />Grants--209,051--
<br />Gain (Loss) on Sale of Capital Assets8,899(80,126)15,152(4,963)(2,050)
<br /> Total Nonoperating Revenues (Expenses)$ 271,743$ 8,991$ 354,085$ 217,636$ 82,440
<br />INCOME (LOSS) BEFORE CONTRIBUTIONS
<br /> AND TRANSFERS$ 2,922,811$ 2,646,788$ 3,080,438$ 3,796,135$ 3,621,987
<br />Capital Contributions----10,000
<br />Transfers In---352,104125,764
<br />Transfers Out(824,743)(1,089,287)(1,113,264)(1,187,714)(1,157,445)
<br />CHANGE IN NET POSITION$ 2,098,068$ 1,557,501$ 1,967,174$ 2,960,525$ 2,600,306
<br />Special Item-330,923---
<br />CHANGE IN NET POSITION AFTER SPECIAL ITEM$ -$ 1,888,424$ -$ -$ -
<br />TOTAL NET POSITION (JANUARY 1)$ 32,969,053*$ 32,635,676$ 34,524,100$ 36,491,274$ 39,451,799
<br />PRIOR PERIOD ADJUSTMENTS(2,431,445)----
<br />TOTAL NET POSITION, RESTATED (JANUARY 1)$ 30,537,608$ -$ -$ -
<br />TOTAL NET POSITION (DECEMBER 31)$ 32,635,676$ 34,524,100$ 36,491,274$ 39,451,799$ 42,052,105
<br />* As restated.
<br />- 19 -
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