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IV-17
<br />CITY OF ELK RIVER
<br />STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN
<br />NET POSITION -PROPRIETARY FUNDS
<br />YEAR ENDED DECEMBER 31, 2019
<br />Municipal
<br />Liquor Sewer Garbage Storm water Elecbic Water Totals
<br />SALES AND COST OF SALES
<br />Sales $ 7,614,986 $ $ $ $ $ $ 7,614,986
<br />Cost of Sales (5,399,897) !5,399,8971
<br />Gross Profit 2,215,089 2,215,089
<br />OPERATING REVENUE
<br />User Charges 2,188,671 1,643,598 510,598 37,640,985 2,235,222 44,219,074
<br />Delinquent Collections 1,079 1,517 291 254,553 17,865 275,305
<br />Other 2,804 193,446 199,095 50,583 445,928
<br />Total Operating Revenue 2,804 2,383,196 1,645,115 510,889 38,094,633 2,303,670 44,940,307
<br />OPERATING EXPENSES
<br />Personnel Services 899,750 637,909 29,377 101,695 3,199,774 682,215 5,550,720
<br />Supplies 41,527 213,686 19,152 1,523 131,546 279,751 687,185
<br />Purchased Power 24,851,301 24,851,301
<br />Other Service Charges 307,954 809,763 1,407,953 464,233 3,516,207 561,336 7,067,446
<br />Depreciation 123,286 1,644,459 457,477 2,856,258 1,147,149 6,228,629
<br />Total Operating Expenses 1,372,517 3,305,817 1,456,462 1,024,928 34,555,086 2,670,451 44,365,281
<br />OPERATING INCOME (LOSS) 845,376 (922,621) 188,633 (514,039) 3,539,547 (366,781) 2,770,115
<br />NONOPERATING REVENUE (EXPENSES)
<br />Connection and Other Fees 713,170 713,170
<br />Investment Earnings 221,617 235,105 10,628 39,636 159,014 38,097 704,099
<br />Interest Expense (244,805) (643,159) (32,939) (920,903)
<br />Intergovernmental Grants 1,200 1,200
<br />Gain (Loss) on Disposal of Capital Asset 8,280 (2,050) 6,230
<br />Miscellaneous Revenue 568,635 248,960 817,595
<br />Total Nonoperating Revenue (Expenses) 221,617 711,750 11,828 39,638 82,440 254,118 1,321,391
<br />INCOME (LOSS) BEFORE CONTRIBUTIONS
<br />AND TRANSFERS 1,066,993 (210,871) 200,461 (474,401) 3,621,987 (112,663) 4,091,506
<br />Capital Grants and Contributions 135,764 428,662 564,426
<br />Transfers Out !714,8551 !150,0001 !46,0001 !15,0001 !1,157,4451 (2,085,300)
<br />Total Contributions and Transfers (714,855) (150,000) !48,0001 (15,000) (1,021,681) 428,662 (1,520,874)
<br />CHANGE IN NET POSITION 352,138 (360,871) 152,461 (489,401) 2,600,306 315,999 2,570,632
<br />NET POSITION
<br />Beginning of Year 5,954,494 29,684,786 196,078 10,345,889 39,451,799 25,041,708 110,674,754
<br />End of Year $ 6,306,632 $ 29,323,915 $ 348,539 $ 9,856,488 $ 42,052,105 $ 25,357,707 $ 113,245,366
<br />See accompanying Notes to Basic Financial Statements.
<br />165
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