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<br />See notes to basic financial statements. 50
<br />Municipal Liquor Sewer Garbage Storm Water
<br />Sales and Cost of Sales
<br />Sales 7,974,201$ -$ -$ -$
<br />Cost of sales (5,762,668) - - -
<br />Gross profit 2,211,533 - - -
<br />Operating Revenues
<br />User charges - 2,581,293 1,918,204 633,969
<br />Delinquent collections - 1,735 2,312 212
<br />Other 4,693 191,049 - 271,710
<br />Total operating revenues 4,693 2,774,077 1,920,516 905,891
<br />Operating Expenses
<br />Personnel services 1,119,287 827,512 46,318 -
<br />Materials and supplies 38,089 307,724 3,017 757
<br />Purchased power - - - -
<br />Other services and charges 359,657 906,050 1,653,476 485,419
<br />Depreciation/amortization 62,030 1,710,941 - 494,793
<br />Equipment - 134,413 - -
<br />Total operating expenses 1,579,063 3,886,640 1,702,811 980,969
<br />Operating income (loss) 637,163 (1,112,563) 217,705 (75,078)
<br />Nonoperating Revenues (Expenses)
<br />Investment income 329,638 515,308 30,921 85,586
<br />Gain (loss) on sale of asset (4,150) - - -
<br />Interest and other charges (461) (83,907) - -
<br />Miscellaneous revenue - - - -
<br />Total nonoperating revenues 325,027 431,401 30,921 85,586
<br />Income (loss) before capital
<br /> contributions and transfers 962,190 (681,162) 248,626 10,508
<br />Capital Contributions
<br />Contributions from Governmental - 1,641,841 - 487,524
<br />Contributions from Customers - - - -
<br />Connection Fees - 840,480 - -
<br />Transfers out (1,250,000) (170,000) (56,500) (135,000)
<br />Change in net position (287,810) 1,631,159 192,126 363,032
<br />Net Position
<br />Beginning of year 5,713,591 32,487,806 620,506 11,241,093
<br />End of year 5,425,781$ 34,118,965$ 812,632$ 11,604,125$
<br />Business-Type Activities - Enterprise Funds
<br />City of Elk River
<br />Statement of Revenues, Expenses, and Changes
<br />in Net Position - Proprietary Funds
<br />Year Ended December 31, 2023
<br />Page 171 of 464
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