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IV-5CITY OF ELK RIVER MANAGEMENT'S DISCUSSION AND ANALYSIS YEAR ENDED DECEMBER 31, 2019 At the end of the current fiscal year, the City of Elk River is able to report positive balances in all three categories of net position, both for the City as a whole, as well as for its separate governmental and business-type activities. Governmental Acttvilles BUllneu-Tn!!;Actlvltles Tolal 2019 2018 ______!!!1! 2018 2019 2018 REVENUES Progran Revenues: ChargnforServioes $ 2,995,949 $ 3,143,111 s 53,372,888 s 53,452,010 $ 56,368,837 s 58,595,121 Operating Grants and Contributions 1,396,313 1,381,151 uoo 1,397,513 1,381,161 capital Grants and Contributions 1,609,860 1,721,838 1,277,598 2,295,004 2,787,248 4,018,642 General Revenun: Property Taxes 13,022,991 12,192,911 13,022,991 12,192,911 Other Taxes 2,288,998 1,591,863 2,288,998 1,691,663 Unreatrloted Investment Eamlnga 1,420,677 430,642 704,099 487,294 2,124,778 897,938 Grants and Contributions Not Reatricled 2,688,461 1,754,373 2,588,461 1,754,373 Gain on Sale of Capital Anets 41,698 8,280 2.482 49978 2482 TolalRevenuH 25,264,737 22,215,489 55,384,063 56.216,770 80,828,800 78,432,259 EXPENSES General Government 3,786,257 3,881,134 3,786,257 3,981,134 Public Safely 9,188,562 7,398,041 9,188,562 7,398,041 Public Works 5,920,022 5,819,836 5,920,022 5,619,836 CulluraandR8Cf811tion '4,094,690 4,474,619 4,094,690 4,474,619 Economic Development 540,497 969,-443 540,497 989.443 Interest: on Long-Tenn Debt 979,755 486.630 979,755 486.630 MunlclpalLlquor e.m,,414 6,233,700 e,m,,41,4 6,233,700 Sawer 3,560,622 3,504,489 3,550,622 3,504,469 Garbage 1,456,,482 1,586,956 1,456,,482 1,588,956 ._,._ 1,024,928 63"4,073 1,024,926 834.073 Electric 35.200,295 35,680,220 35,200,296 35.680.220 -2,703,390 2,666,149 2,703,390 21688149 TotalE,cpenseB 2-4,509,763 22,929,703 60,708,131 50,307,587 75,217,914 ~290. CHANGE IN NET POSITION BEFORE TRANSFERS 754,954 (714,214) "4,666,932 5,909,163 5,410,686 6,194,969 Tranefers and Conblbullona 2,065,300 2,063,636 (2,086,3002 e.oe3.e36> CHANGE IN NET POSITION 2,840,25,4 1,349,424 2,570,632 3,845,545 5,410,688 5,194,969 Net PosHlon-Beglnnlng of Year 99,013,558 97,664,135 110,67-4,754 106,629,209 209,686,313 20,4,493134"4 NET POSITION -END OF YEAR $ 101,653,613 $ 99,013,558 $ 113,2"46,386 $ 110,6741754 $ 215,099,199 $ 209:668,31 ~ Governmental activities. Governmental activities account for 47% of the City of Elk River's net position. Governmental activities increased the City's net position by $2,840,254. Key elements of the relevant changes are as follows: • $697,335 increase in other taxes related to the implementation of a local sales tax in 2019 to fund park and recreation improvements. • $830,080 increase in property taxes related to the increase in the tax levy. • $990,035 increase in unrestricted investment earning due to 2019 being a better investing year than 2018 for the types of investment held by the City. • $834,088 increase in grants and contributions not restricted related to increased landfill fees resulting from the closure of the garbage burning facility. $10,000.000 $9.000,000 $8,000,000 $7.000,000 $6,000,000 $5,000,000 $4,000,000 $3.000,000 $2,000,000 $1.000,000 $0 CITY OF ELK RIVER MANAGEMENT'S DISCUSSION AND ANALYSIS YEAR ENDED DECEMBER 31, 2019 Expenses and Program Revenues -Governmental Activities .I I General Public Safety Govemment I Public Works .I Culture and Reaeatlon • Revenues • Elcpenses -• I Economic Interest and Fiscal Development Charges Revenues by Source -Governmental Activities Grants and Contributions Not Restricted, 10.25% Unrestricted Investment, ~ Gain on Sale of Capltal Charges for Services, 11.86% Earnings, 5.62% Capital Grants and Other Taxes, 9.06% =------PropertyTaxes,51.55% 153
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