|
CITY OF ELK RIVER, MINNESOTA
<br />STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN
<br />NET POSITION - PROPRIETARY FUNDS
<br />YEAR ENDED DECEMBER 31, 2020
<br />Municipal
<br />Liquor
<br />Sewer
<br />Garbage
<br />Storm Water
<br />Electric
<br />SALES AND COST OF SALES
<br />Sales
<br />$ 7,924,956
<br />$
<br />$
<br />$
<br />$
<br />Cost of Sales
<br />(5,679,211)
<br />Gross Profit
<br />2,245,745
<br />OPERATING REVENUE
<br />User Charges
<br />-
<br />2,296,735
<br />1,684,840
<br />564,123
<br />37,714,965
<br />Delinquent Collections
<br />-
<br />1,692
<br />1,824
<br />576
<br />42,556
<br />Other
<br />2,750
<br />183,095
<br />-
<br />-
<br />164,986
<br />Total Operating Revenue
<br />2,750
<br />2,481,522
<br />1,686,664
<br />564,699
<br />37,922,507
<br />OPERATING EXPENSES
<br />Personnel Services
<br />957,028
<br />661,298
<br />28,780
<br />49,630
<br />2,844,551
<br />Supplies
<br />27,386
<br />279,186
<br />19,616
<br />575
<br />177,216
<br />Purchased Power
<br />-
<br />-
<br />-
<br />-
<br />24,240,440
<br />Other Service Charges
<br />360,039
<br />767,321
<br />1,517,086
<br />57,907
<br />3,799,958
<br />Depreciation
<br />95,998
<br />1,636,413
<br />-
<br />463,058
<br />2,896,839
<br />Total Operating Expenses
<br />1,440,451
<br />3,344,218
<br />1,565,482
<br />571,170
<br />33,959,004
<br />OPERATING INCOME (LOSS)
<br />808,044
<br />(862,696)
<br />121,182
<br />(6,471)
<br />3,963,503
<br />NONOPERATING REVENUE (EXPENSES)
<br />Connection and Other Fees
<br />-
<br />1,193,701
<br />-
<br />-
<br />-
<br />Investment Earnings
<br />215,252
<br />265,503
<br />19,017
<br />48,888
<br />134,468
<br />Interest Expense
<br />-
<br />(327,958)
<br />-
<br />-
<br />(606,313)
<br />Gain (Loss) on Disposal of Capital Asset
<br />23,263
<br />Miscellaneous Revenue
<br />-
<br />-
<br />-
<br />-
<br />547,009
<br />Total Nonoperating Revenue (Expenses)
<br />215,252
<br />1,131,246
<br />19,017
<br />48,888
<br />98,427
<br />INCOME (LOSS) BEFORE CONTRIBUTIONS
<br />AND TRANSFERS
<br />1,023,296
<br />268,550
<br />140,199
<br />42,417
<br />4,061,930
<br />Capital Grants and Contributions
<br />-
<br />444,622
<br />-
<br />446,428
<br />174,557
<br />Transfers In
<br />14,205
<br />20,780
<br />-
<br />-
<br />Transfers Out
<br />(755,147)
<br />(155,000)
<br />(50,000)
<br />(15,500)
<br />(1,340,218)
<br />Total Contributions and Transfers
<br />(740,942)
<br />310,402
<br />(50,000)
<br />430,928
<br />(1,165,661)
<br />CHANGE IN NET POSITION
<br />282,354
<br />578,952
<br />90,199
<br />473,345
<br />2,896,269
<br />NET POSITION
<br />Beginning of Year
<br />6,306,632
<br />29,323,915
<br />348,539
<br />9,856,488
<br />42,052,105
<br />End of Year
<br />$ 6,588,986
<br />$ 29,902,867
<br />$ 438,738
<br />$ 10,329,833
<br />$ 44,948,374
<br />See accompanying Notes to Basic Financial Statements.
<br />(31)
<br />
|