Laserfiche WebLink
CITY OF ELK RIVER, MINNESOTA <br />MANAGEMENT'S DISCUSSION AND ANALYSIS <br />YEAR ENDED DECEMBER 31, 2020 <br />Business -Type Activities. Business -type activities increased the City of Elk River's net position by <br />$5,670,410 in 2020 as compared to an increase in net position of $2,570,632 in 2019. Key elements of <br />this increase in net income are as follows: <br />• Capital grants and contributions increased $1,600,000 due to utility connection fees related to <br />development activity in 2020. <br />• Charges for services increased $694,000 due largely to increased liquor sales and increased <br />water usage from the prior year. <br />• Stormwater fund operating expenses decreased $453,000 due to storm water pond <br />maintenance projects conducted every other year. <br />• Electric fund operating expenses decreased $635,000 due to purchased power expenses <br />decreased 2.5%. <br />Expenses and Program Revenues - Business -Type Activities <br />$40,000,000 <br />$35,000,000 <br />$30,000,000 <br />$25,000,000 <br />$20,000,000 <br />$15,000,000 <br />$10,000,000 <br />$5,000,000 <br />$0 • <br />Municipal Liquor Sewer Garbage <br />Revenues <br />Storm Water Electric <br />Expenses <br />Water <br />