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<br />Table 15
<br /> Net Special
<br />Fiscal Gross Operating Revenue Debt Service Assessment Debt Service
<br />Year Revenue 2 Expenses 3 Available Principal Interest Coverage Collections Principal Interest Coverage
<br />2015 36,586,235$ 30,281,264$ 6,286,971$ 900,000$ 464,938$ 4.61 162,519$ 310,000$ 21,550$ 0.49
<br />2016 38,559,107 32,376,907 6,182,200 2,860,000 183,634 2.03 135,447 305,000 15,400 0.42
<br />2017 40,563,969 34,509,407 6,054,562 1,355,000 673,662 2.98 106,349 300,000 8,900 0.34
<br />2018 43,542,520 35,946,427 7,596,093 1,390,000 627,528 3.77 -295,000 2,950 0.00
<br />2019 42,781,499 34,883,488 7,898,011 1,620,000 924,505 3.10 - - -0.00
<br />2020 43,078,573 34,310,476 8,768,097 1,625,000 1,023,466 3.31 - - -0.00
<br />2021 46,398,629 38,450,863 7,947,766 1,915,000 927,535 2.80 - - -0.00
<br />2022 49,445,623 43,409,827 6,035,796 8,865,000 1,262,155 0.60 - - -0.00
<br />2023 50,608,815 43,077,556 7,531,259 1,435,000 973,191 3.13 - - -0.00
<br />2024 49,043,988 41,761,588 7,282,400 1,535,000 935,776 2.95 - - -0.00
<br /> Note: Details regarding the government's outstanding debt can be found in the notes to the financial statements.
<br />1 Includes Liquor, Sewer, Water and Electric revenue bonds
<br />2 Gross revenue excludes interest income, connection fees and miscellaneous revenues
<br />3 Expenses exclude depreciation, interest on bonds and miscellaneous expenses
<br />Revenue Bonds 1 Special Assessment Bonds
<br />City of Elk River
<br />Pledged-Revenue Coverage
<br />Last Ten Fiscal Years
<br />
<br />Page 368 of 637
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