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City of Elk River <br />Financial Analysis <br />Municipal Liquor Operations <br />The following graph illustrates the current operations of the Municipal Liquor Fund for the past five <br />years. Sales decreased $87,703 in 2022 after being at a high mark in 2021. Cost of sales also decreased <br />$43,468, ending with a decrease in gross profit of 1.9%. The net effect of the decreases in revenues and <br />expenses is operating income of $746.731, a decrease of $190,217 compared to 2021. <br />Municipal Liquor Operations <br />$2,000,000 <br />$1,500,000 <br />$1,000,000 <br />$500,000 <br />2022 <br />2021 <br />2020 <br />2018 <br />2019 <br />■ Gross Profit <br />$2,081,377 <br />$2,215,089 <br />$2,245,745 <br />$2,379,769 <br />$2,335,534 <br />■ Operating Expenses <br />1,114,046 <br />1,372,517 <br />1,440,451 <br />1,448,717 <br />1,593,173 <br />■ Operating Income without <br />Depreci ation/A mortizat ion <br />1,088,641 <br />968,662 <br />904,042 <br />1,031,887 <br />840,546 <br />■ Operating Income <br />969,455 <br />845,376 <br />808,044 <br />936,948 <br />746,731 <br />19 <br />